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Thursday, August 29, 2013

Solid Automotive IPO Share Price Target


TA Securities gives Solid Automotive fair value at RM0.56, using CY14 EPS of 7.5sen and fair PER of 7.5x, in line with its peers’ average trailing PER of 7.5x. Kenanga gives Solid Automotive target price of RM0.57, based on a FY14E PER of 7.8x, which is at 15% discount (for its relatively smaller market cap of RM84m and smaller niche in the Tier-2 market) from the current valuation of its closest competitors, New Hoong Fatt and Delloyd Ventures, both at current PER of c.9x.

Solid PE ratio is less than 10 with forecast growth of around 10%.

Solid Automotive Berhad does not have a formal dividend policy. However, the group intends a dividend payout ratio of 40%. The dividend yields are estimated at about 5%.

Net cash with no gearing.

 

Recent IPO info, here.
http://politemarket.blogspot.com/search/label/IPO


More info on Solid Automotive IPO, here.
http://politemarket.blogspot.com/2013/08/solid-automotive-berhad-ipo.html


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Thursday, August 22, 2013

Transaction, Boilerm and TSH stock news

Boilerm news, financial result nothing special. Increased year on year but dropped quarter on quarter.
Selling some now. Order book still stronng and net cash is RM0.25.


Wanted to wait until RM2.00, PE ratio not cheap already and RM2.00 is a phychological level. Good level to sell, but financial result nothing special.

TSH result normal, although fruit harvest increased, profit not so good due to low CPO price.

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Monday, August 19, 2013

SOLID AUTOMOTIVE BERHAD IPO

Opening of application 19/08/2013
Closing of application 30/08/2013
Balloting of applications 03/09/2013
Allotment of IPO shares to successful applicants 10/09/2013
Tentative listing date 12/09/2013

SOLID AUTOMOTIVE BERHAD IPO Price RM0.56
INITIAL PUBLIC OFFERING IN CONJUNCTION WITH OUR LISTING ON THE MAIN MARKET OF BURSA MALAYSIA SECURITIES BERHAD COMPRISING:

(I) PUBLIC ISSUE OF 35,384,000 NEW ORDINARY SHARES OF RM0.50 EACH ("SHARES") IN THE FOLLOWING MANNER:

- 7,500,000 NEW SHARES AVAILABLE FOR APPLICATION BY THE PUBLIC;
- 9,847,500 NEW SHARES AVAILABLE FOR APPLICATION BY OUR ELIGIBLE DIRECTORS, EMPLOYEES AND PERSONS WHO HAVE CONTRIBUTED TO THE SUCCESS OF OUR GROUP;

- 15,000,000 NEW SHARES AVAILABLE FOR APPLICATION BY BUMIPUTERA INVESTORS APPROVED BY THE MINISTRY OF INTERNATIONAL TRADE AND INDUSTRY; AND
- 3,036,500 NEW SHARES BY WAY OF PLACEMENT TO SELECTED INVESTORS

AND

(II) OFFER FOR SALE OF UP TO 8,361,000 EXISTING SHARES BY WAY OF PLACEMENT TO SELECTED INVESTORS,

AT AN ISSUE/OFFER PRICE OF RM0.56 PER SHARE, PAYABLE IN FULL UPON APPLICATION

Stock Code Stock Name SOLID

====================== 
According to The Star, the company is founded in 1982, now has seven branches in Malaysia and one in Singapore. Besides the local market, the group has also managed to penetrate into over 30 countries such as Saudi Arabia, UAE, Libya, Ecuador, Indonesia, Syria, Yemen, Thailand, Sri Lanka and Sudan.

Solid Automotive’s subsidiaries Solid Corporation, Twinco, Auto Empire, JBS and Uni Point are involved in the trading and distribution of automotive parts and components as well as remanufacturing of automotive alternators and starters for the passenger and commercial vehicle segments in the automotive aftermarket in Malaysia and overseas.

For more information on IPO, here.
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Saturday, August 17, 2013

UMW Oil and Gas Corporation Berhad IPO, Westport Malaysia IPO, SKPRES and Mourinho

UMW Oil and Gas Corporation Berhad IPO

Limited info because many details are not out yet. From the information that I have gathered through web, news, prospectus, etc, market capitalisation few billion Ringgit. Malaysia’s biggest IPO of the year so far.  UMW Oil and Gas IPO price is estimated to be around RM3.00.  PE ratio is quite high at this moment. Big company normally will have high PE Ratio. If you compare with world oil and gas companies, then the PE ratio will be very high. But UMW Oil and Gas revenue is mainly from Malaysia, so probably people compare it with local company.

A big part of the IPO proceed is to pay debt. Probably MITI application may have started. Parent company is UMW holdings Bhd.

Another IPO coming up is Westport Malaysia Bhd.


====================

Now on SKP RESources stock.

This is how I had analysed SKPRES stock few weeks ago. Why SKPRES stock got potential to move up from few weeks ago:

1) Many stocks have gone up substantially, but SKPRES has not. Sooner there may be buying interest.

2) Fundamental, the stock is giving high dividend yield, low PE ratio. Good to buy. News on SKPRES shows that TA Securities is recommending a BUY with fair value of RM0.65, compare with SKPRES share price of about RM0.32.

Based on the above, I wanted to buy. It turned out to be true where SKPRES went up to RM0.385 recently, up 20%.

Why I didn’t buy?

Many stocks have gone up substantially, but SKPRES has not. Sooner there may be buying interest. I fully agreed with this. But there are many stocks out there, why SKPRES?

SKPRES stock is giving high dividend yield and low PE ratio, TA Securities also recommending buy. Ok, but past few quarters TA Securities also recommended buy, but the profit dropped. If the profit drop further, then the PE ratio may not be cheap anymore and dividend yield also probably will drop.

For the past few weeks still thinking to buy or not to buy. I have decided not to buy, because I’m not good in trading. Not good in predicting when the stock will up, when to buy, whether now can buy or not. What I’m good at is just buy and hold, and make profit.

No regret.

If another stock in similar situation, I also will not buy. I’ll still stick to long term investment. Maybe just buy little for trading. Maybe.
 

=============

Now we talk a bit on football. There are many criticisms on Jose Mourinho. Saying he anti-football by not playing attacking football, and said he failed in Real Madrid.

While under Jose Mourinho, Real Madrid achieved the highest points in Spanish League history, 100 points. Most goals scored in a season, 121 goals. A record goals scored, you called that not playing attacking football? Laugh out loud.

We all know that Barcelona team is the best in the world. So not many people can avoid defeat to Barcelona. But look at Mourinho, he won 4, drew 4 and lost 4 to Barcelona during his spell with Real Madrid. Barcelona is really the best, with super Messi and other world class players. Even with different managers, and there were times they were without manager because he was on cancer treatment, Barcelona still won. The players are just too good.

On this third season in Real Madrid, the players were at fault not to listen to instructions and play revolt.

You look at how Maurihno Inter Milan beat Barcelona. His records speak for him.

Just to give some facts for those who simply criticize.

I agree many dislike him, because he is cocky, sore loser because he always give funny excuses whenever he lose, he blame the “park the bus’, the injuries, the referees, the penalties, etc. That I fully agreed. Many hate him, but he is good. I also dislike the way he talk and create trouble, but I can’t deny he has a good track records and talent.

 
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Sunday, August 11, 2013

Pantech, Bonia, LPI, ECS stock News and MYR vs USD

Pantech stock announced quarterly financial result, normal only. But don’t know why I read Pantech news, many analysts said the result is good and recommended buy on the share.

Not much change in the Pantech fundamental analysis. Pantech PE ratio still reasonable, with growth potential and average high dividend yield. Pantech Target Price is RM1.42 by TA Securities, RM1.43 by RHB and RM1.28 by Kenanga. I will continue to hold because I think Pantech fair value is worth what the research papers have stated.
As I mentioned earlier, after I have sold Padini stock, the share price went up, and after I have sold Bonia stock, I hoped the price doesn’t go up. But recently the share price went up to RM3.34. Should not feel sad because this is part of the investment in stock market. The prices always move up and down and I hold a portfolio of stocks and there are thousands of stocks.

Saturday just now I went to buy Bonia, not the stock but the shoe. Initially saw one Pierre Cardin, RM160 after 50% discount, but no my size. Then saw one Valentino Rudy RM195 after 50% discount. Then saw this Bonia also RM195 after 50% discount. Decided to buy Valentino Rudy, but the staff not around. Ended up bought this Bonia. Maybe that is the reason why Bonia share price went up recently, because before this I always buy Bata, less than RM70.
Previously I thought no need to buy expensive shoes because no matter how long lasting the shoe, it will be smelly. It is better to buy cheap one and throw away after few months. One day someone gave me a Crocodile brand, because he bought wrong size. I just bought a new Bata, one of the cheapest one in the Bata shop. Therefore, I rotated both shoes, one day Crocodile and the next day Bata, the next day Crocodile, and so on. My Bata broke and I have thrown away. But after many months, the Crocodile still look solid, and I’m still wearing. The shoes not really smelly. So just now I decided to buy more expensive shoes than what I have been buying. Reason of buying is because I need a pair of spare shoes as I am moving in two locations, and just thrown my spare shoes.

LPI Capital announced quarterly financial result, ok. No comment on that. One of my family members still holds on to that stock.
ECS stock announced quarterly financial result, flat. Let us wait for the research report to see what is the future potential. I can’t remember whether I have sold all or left with very little. Will check if I’m free.

Malaysia Ringgit has been dropping. My colleagues made noise because they are going overseas. At USD vs MYR below RM3.00, that was after the General Election, I thought that was just the start of a stronger MYR. But turned out to be wrong. That is always happening in stock market also. When share price drop, people will think that it will drop further. When share price up, people will think that it will go up further.
So fast, three days holiday gone. Sunday will need to get ready to work on Monday.


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Saturday, August 3, 2013

How I Made another Stock 100% Gain - Boilermech 13 months

Bought Boilerm RM0.78, and if Boilerm reach RM1.56, made 100%. Few weeks ago Boilerm share price closed above RM1.56. Total 13 months. Today closed at RM1.59.  Also, not to forget the dividend that I have received, although not much.

Past few years, here are the stocks that made at least 100%.

 
Huayang      400%
Freight       200%
Evergreen 200%
TSH          100%
Genting Singapore   200%
Adventa      100%
QL      100%
Bonia     100%
P&O     100%
Scientx 100%
Boilermech  100%


 
Not necessary made 100% is better. Maybe one stock we make 50% this year and sold, then bought another stock and made 50% the following year and sold. These two stocks will not appear in the list, but if combine still make 100% in two years which is very good, much better than if make 100% in 3 years time

If you have been reading my blog, you will know how I am able to achieve this, that is through a very simple fundamental investing called PEGGY Method, together with timing method called Dollar Cost Averaging. Once again, I will not elaborate more, because most readers are very bored with my strategy. Same old strategy but successful.


Previously stock selection was not that good, miss opportunity to buy because keep waiting price drop and sell too early.


Now, if you have read my blog, you will know that the strategy works.


If you have been following my blog, you will know how I invest and how my stocks prices have appreciated. If the price have gone up, you may notice that I may buy more if it is still good.
 

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For stocks that I have made more than 100%, here.
http://politemarket.blogspot.com/search/label/100%25%20Gain

 


For more info on Boilermech, here.



More information on PEGGY Method, here.














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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.
This blog has been compiled in good faith, with no intention to cause hurt, loss, or any trouble. No representation is (either express or implied) as to the completeness or accuracy of the information it contains.
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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