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Monday, January 28, 2013

TUNE INS Holdings Berhad and CHINA AUTOMOBILE PARTS HOLDINGS LIMITED IPO

TUNE INS Holdings Berhad and CHINA AUTOMOBILE PARTS HOLDINGS LIMITED IPO

According to TA Securities, China Automobile Parts fair value is RM0.72 per share based on 5x FY13 EPS of 14.4sen after benchmarking to EP Manufacturing Bhd (forward PER: 3.6x) and APM Automotive Holdings Bhd (forward PER: 7.2x). While they see some upside on the stock, their view is dampened by the poor performance of China-based company on the local bourse. That said, CAP has an aggregate potential upside of 10.2% (capital – 6%; Dividend yield – 4.2%).

Stock Name and Stock Code: CAP


CHINA AUTOMOBILE PARTS HOLDINGS LIMITED


Opening of application
11/01/2013

Closing of application
18/01/2013

Balloting of applications
22/01/2013

Allotment of IPO shares to successful applicants
25/01/2013

Tentative listing date
30/01/2013

THE INITIAL PUBLIC OFFERING OF UP TO 150,000,000 ORDINARY SHARES OF US$0.10 EACH (“SHARES”) COMPRISING:-

(I) PUBLIC ISSUE OF 90,000,000 NEW SHARES COMPRISING:-

• 30,000,000 NEW SHARES AVAILABLE FOR APPLICATION BY THE MALAYSIAN PUBLIC;

• 60,000,000 NEW SHARES AVAILABLE FOR PRIVATE PLACEMENT TO SELECTED INVESTORS; AND

(II) OFFER FOR SALE OF UP TO 60,000,000 SHARES AVAILABLE FOR PRIVATE PLACEMENT TO SELECTED INVESTORS,

AT AN ISSUE/OFFER PRICE OF RM0.68 PER SHARE PAYABLE IN FULL ON APPLICATION PURSUANT TO ITS LISTING ON THE MAIN MARKET OF BURSA MALAYSIA SECURITIES BERHAD.

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Tune Ins IPO:

Stock Name Stock Code: TUNEINS

Tune IPO price RM1.55

Opening of application
23/01/2013

Closing of application
04/02/2013

Balloting of applications
06/02/2013

Allotment of IPO shares to successful applicants
20/02/2013

Tentative listing date
22/02/2013

INITIAL PUBLIC OFFERING OF UP TO 210,224,900 ORDINARY SHARES OF RM0.10 EACH IN TUNE INS HOLDINGS BERHAD ("TIH") ("TIH SHARES") COMPRISING A PUBLIC ISSUE OF UP TO 143,374,900 NEW TIH SHARES ("PUBLIC ISSUE SHARES") AND AN OFFER FOR SALE OF UP TO 66,850,000 EXISTING TIH SHARES ("OFFER SHARES") COMPRISING:

(I) THE INSTITUTIONAL OFFERING OF UP TO 102,028,100 PUBLIC ISSUE SHARES AND UP TO 66,850,000 OFFER SHARES TO:

(A) MALAYSIAN INSTITUTIONAL AND SELECTED INVESTORS INCLUDING BUMIPUTERA INVESTORS APPROVED BY THE MINISTRY OF FINANCE; AND

(B) FOREIGN INSTITUTIONAL AND SELECTED INVESTORS OUTSIDE THE UNITED STATES IN RELIANCE ON REGULATIONS UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED,
AT THE INSTITUTIONAL PRICE TO BE DETERMINED BY WAY OF BOOKBUILDING; AND

(II) THE RETAIL OFFERING OF UP TO 41,346,800 PUBLIC ISSUE SHARES TO:

(A) MALAYSIAN CITIZENS, COMPANIES, CO-OPERATIVES, SOCIETIES AND INSTITUTIONS; AND

(B) THE ELIGIBLE DIRECTORS, EMPLOYEES AND PERSONS WHO HAVE CONTRIBUTED TO THE SUCCESS OF TIH AND ITS SUBSIDIARIES,

AT THE RETAIL PRICE OF RM1.55 PER PUBLIC ISSUE SHARE,

SUBJECT TO CLAWBACK AND REALLOCATION PROVISIONS AND OVER-ALLOTMENT OPTION AS DESCRIBED IN THIS PROSPECTUS.

THE RETAIL PRICE IS PAYABLE IN FULL UPON APPLICATION AND SUBJECT TO A REFUND OF THE DIFFERENCE IN THE EVENT THAT THE FINAL RETAIL PRICE IS LESS THAN THE RETAIL PRICE.THE FINAL RETAIL PRICE WILL EQUAL THE INSTITUTIONAL PRICE, SUBJECT THAT IT WILL NOT EXCEED THE RETAIL PRICE.


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Sunday, January 27, 2013

Buy Hua Yang stock says TA Securities

Hua Yang recent financial result good. With Hua Yang share price of RM1.62, Hua Yang PE ratio is very low with growth potential. Gearing is manageable. Hua Yang dividend yield is high, one of the Bursa Malaysia stock market high dividend stocks.

TA securities recommend buy Hua Yang stock with Hua Yang fair value of RM2.20. This Hua Yang target price of RM2.20 is about 35% upside from current share price. Together with high dividend, good return.

Should buy shares now or wait after 13th Malaysia General Election?

More information on Hua Yang.
http://politemarket.blogspot.com/search/label/Hua%20Yang

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Thursday, January 24, 2013

Buy Pantech, say OSK Kenanga TA and Asia Analytical

Pantech recent financial result was good. With Pantech share price of RM0.76, PER still low, with growth potential, manageable gearing and good dividend yield. Pantech recommended buy by OSK (Pantech fair value RM1.00), Kenanga (Pantech RM0.85), and TA Securities (Pantech RM0.85) and Asia Analytical.

Can buy Pantech? Or wait after Malaysia General election?

Huayang recent financial result still good. Will post more once get more info.

Zhulian recent financial result normal. Will post more once get more info.

Sunday, January 20, 2013

SKP Resources and QL Warrant

SKPRES share price keep coming down. Don't know why. Past few weeks market sentiment was ok, but SKPRES share price came down, maybe something happened that I don't know.

Many people said Pep Guardiola is one of the best managers in the world. He managed Barcelona and won so many titles. But I think he is not tested yet. As you can see, the assistant manager without much first manager experience was promoted and is able to managed Barcelona so well. The current Barcelona players are so good that whoever manages the team will win. I'm not saying Pep Guardiola is not good, but is not really tested yet.

QL warrants is expiring and now is almost worthless. Two years ago QL Warrant share price was RM0.93, now almost zero. Sometimes I was right, sometimes I was wrong. In my case study on QL Warrant, I was right. You can refer to my post here

http://politemarket.blogspot.com/2011/04/ql-warrant-case-study.html

Pantech and Boilerm up but came down a bit. P&O taking a break. Zhulian unable to break RM3.00. QL still have many analysts ask to buy, but results still not up to expectation.

My friend said she is buying LPI and Public Bank. I have no comment.

Sunday, January 13, 2013

Can buy Unimech, P&O, Boilerm and Pantech?

P&O share price closed RM0.06 up to RM1.40, highest price for at least the past one year. I don't have historical data. Kenanga Investment Bank research has been recommending buy with latest P&O targer price of RM1.60. Low PE ratio with growth and good dividend. Recent news is the selling some of the insurance business. Based on technical analysis, it is a buy call. But I'm not good at technical analysis.

Boilermech stock, as mentioned in one of my earlier post, if Boilerm share price break RM0.905, it is a buy call. Last week I saw Boilerm trading at RM0.92, but I didn't buy more from the buy signal because:
1. Overall market sentiment was good, most stocks also up, and I was thinking Boilerm up may not be due to the technical chart, may be due to overall market.
2. My post was few weeks ago, not sure whether the buy signal still valid.
3. Boilerm shares volume is low, so technical analysis is less accurate.
Conclusion: wait and see.

Then Friday I saw Boilerm share price was trading at RM0.95, confirm broke the RM0.905 resistance. But the problem is, from 0.905 to 0.95 is already up 5%. If I consider it up from 0.86, then is up 10% already. Still can buy?

For me, there is a problem with technical analysis. When I want to buy, friends told me no buy signal yet. When got buy signal, is always too late, already up many %, still buy signal?
Boilerm share price closed at aroung RM0.93. OSK recommend Hold on Boilerm with fair value of RM0.98.

Unimech stock, recommended buy by ZJ research. Low PE ratio, with growth potential and reasonable dividend. Their Indonesia operations are also showing good growth.

Unimech share price was trading at RM1.15 to RM1.20. I just bought very little. The reason I bought because when I look at the sellers, it show RM1.21 5lots, RM1.22 5lots, RM1.23 5lots, and so forth. I was thinking so little sellers, if Unimech up, sure very easy.

Volume for Unimech stock is very little. Bought a bit play play.

But after I bought, so many sellers appeared with hundreds lot que to sell. That is big diffrence from past few weeks when so little que to sell.

Not sure whether I have made a wrong choice to purchase. Now suddenly so many sellers. But surprisingly, although more sellers, Unimech share price increased.

Pantech stock also doing well, with Pantech share price rising to RM0.755. Recently OSK maintain Buy call with Pantech fair value at RM1.00.

Generally for the past few weeks market sentiment is good, most stock up. If market down, most stocks also down. Our objective is if market down, hopefully our stocks will down less or flat, or still up, and plus dividend that we receive, not worse. If market up, hopefully our stocks up faster than market.

More info on Boilerm.
http://politemarket.blogspot.com/search/label/Boilermech

P&O
http://politemarket.blogspot.com/search/label/Pacific%20and%20Orient


Pantech
http://politemarket.blogspot.com/search/label/Pantech



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Sunday, January 6, 2013

My Fund (19.77%) Outperformed KLCI (10.34%) in 2012

Year 2012 my fund performance outperformed KLCI again. Let us look at the comparison below:


2010
KLCI up 19.34%
My Fund up 35.9%


2011 KLCI up 0.78%
My Fund up 27.3%


2012 KLCI up 10.34%
My Fund up 19.77%


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For Comparison: iCapital Net Asset Value NAV
30/12/2009 RM1.99
29/12/2010 RM2.55
28/12/2011 RM2.73
26/12/2012 RM2.93


iCapital due to different dates, plus minus estimate.
2010 28.1%
2011 7.1%
2012 7.3%


Note: Since inception listing on 19/10/2005, iCapital NAV up from RM0.99 to current almost RM3.00, very good. But past one year not doing well.


I was unable to find Insiderasia model portfolio performance. Once I get it, I will make a comparison. They are very good and previously performed better than me.


How do I rate my own performance. As I mentioned in one of my earlier post, I made few wrong decisions and also huge portfolio adjustment that incurred high cost in terms of % in the portfolio. Because of that, my fund actually performed on par together with KLCI for the last 6 months. But overall for the year, not really that bad. With General Election coming, low CPO price, and US debt ceiling issue, 2013 may be a tough year.


The bad performing stock in my portfolio in 2012:
Fitters stock, dropped more than 30% since I bought it in early 2012.


Good performing stocks are:
P&O stock, up more than 40% since I bought it June 2012, and have received good dividend too.

Scientex stock up 30% since I bought it in October 2012.

Zhulian stock up 65% since beginning of 2012. Bought Zhulian stock more than two years ago at RM1.9x, and beginning of 2012 was trading at RM1.74x, was having paper loss. But in 2012 Zhulian stock up 65%.


There are few stocks that up a bit, unchanged or down a bit, so on the overall including cash, my fund up 19.77% in 2012, as compared with KLCI up 10.34% only.


I know many people performed much better than me, congratulation and I’m willing to learn more. But I also know many people lose money and many also said stock market cannot make money. If want to make above average profit is not that difficult. I’m able to outperformed the KLCI for few years because of the simple method that I’m using, PEGGY Method and Dollar Cost Averaging.

Note: I made very small loss in Innoprise, but this is not in this fund. For information, except for Innoprise, most stocks in my other fund/account made gain. I don’t know what is the performance in terms of % because of the frequent cash injection and withdrawal in my other account, I didn’t keep track.

More information on PEGGY Method, here.

http://politemarket.blogspot.com/2010/08/why-peggy-method-if-we-have-analyst.html

http://politemarket.blogspot.com/2010/12/what-is-peggy-method.html

http://politemarket.blogspot.com/2010/07/how-to-use-peggy-method-to-select-stock.html

http://politemarket.blogspot.com/2010/05/how-to-get-peggy-figure.html

http://politemarket.blogspot.com/2010/05/what-is-peggy-ratio-method.html

http://politemarket.blogspot.com/2010/07/how-to-import-peggy-pe-and-growth.html


More information on Dollar Cost Averaging, here.
http://politemarket.blogspot.com/search/label/Dollar%20Cost%20Averaging

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Disclaimer

Disclaimer Clause
The information contained in this blog is my personal diary and has been prepared solely for myself. Without any previous reading material or discussion, by just reading my blog contents, reader may misunderstand the contents.
All the contents I am talking to myself and most contents are hypothetical or imaginary.
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This blog also is not an advice, recommendation or an invitation to buy or sell or invest in anything, eg shares, futures, derivatives, gold, etc. Consult your investment adviser before making any decisions.
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