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Muniandy Krishnan's comment on PARKSON. All Comments

Muniandy Krishnan
7 Like
cantik la. up up up
cheng
Wang, Sean, I have liquidated 7081 at 2.49 as it met the fair value set early of this year. Will revisit again after one more quarter. It will probably go higher based on the current sentiment of healthcare as discussed few days back :) but I am not taking risk as the divergence of economic indicator and stock market is worrying for me.
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2 Like · 1 week · translate
王襱胤
noted , thx cheng bro.. waseong i sold early due to not fight qr.. watever, its good company, just collect when its reach undervalue lvl... gl, i have won some counter, wait me take profit first, my r stock (lost) cover soon.. :) thx u again for all u taught me.
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cheng
Yes, Wang. Good company and wait for the opportunity. One thing I learned from observing and also from what you shared about banker is that when it’s undervalued and banker is in, the swing to its fair value will be faster :)
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1 Like · 1 week · translate
王襱胤
cheng bro, u r too humble, we learn togather XD hehhe... have a nice day too :)
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cheng
Sure. Have a great day to you too :)
1 Like · 1 week · translate
lee sean
Thx Cheng for the info, will keep an eye on that after i read up..
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Hairol Kamal Bin Razali
never imagine this counter share price used to be RM15
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Rafie Jainuddin
hi Cheng, may I have your opinion on Bahvest? I've recently look at this company. Since they venture to gold mining business, saw their cash flow looks improving. the time they acquire the mining land, gold price was at $1200, now it's already at $1700 level. and if I do my valuation right, I see this company FV at 0.57.
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lee sean
Cheng, I have read through Pharma latest qr and have a basic analyse on it prospect for the next 2 qr. I estimated the general patient (covid and non covid cases) who require medication in Gov hospital during Covid season (march end until current).
Above comment u told me and wang that you have sold pharma due to reach it fair value right?
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cheng
Yes, Sean. When i bought it early of this year, it was based on the calculations done last year; fair value of $2.49. However, the last quarter and latest quarter showing some signs that it may be better than what I used for calculations last year. Hence, I would like to see another qr performance before revising it. I was using $52M fcf projection but actual achieved last year was higher. Latest qr showing -ve fcf but its just the first qr for FY2020.
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1 Like · 1 week edited · translate
lee sean
I do some research base on patient who need medication during hospitalization within covid season in Malaysia, found that there is significant drop of medication usage in Gov hospital. Ofcuz not sure this will affect pharma or not...
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cheng
Hi Rafie, bahvest is indeed more mining than aquaculture. You are right that it’s cash flow is improving and turned positive for the first time in 2019. It is heavily diluted and hence, it requires substantial earnings to justify its current price or higher valuations. The margins are not stable and erratic. The bigger chunk of income is coming from mining and hence fluctuating according to gold/silver prices and qty that it produced/mined. It is not a direct correlations with gold price as amount of gold produced each time is different. It used to provide monthly production figures but not now anymore. It’s included in quarterly report. Makes it difficult to trend it. From valuations perspective, it depends on the method that you are using. 2019 was the first year of +ve fcf of approx $4M; quiet low. Current price requires at least $40M fcf using dcfa valuations. This stock can be traded repeatedly between its low (0.4) and high (0.625); using the gold/silver productions and the commodities price trend. Price below 0.20 will be safe entry from valuations perspective.
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1 Like · 1 week · translate
cheng
That’s good data, Sean. It’s possible lower as some hospitals focuses on Covid19 patients only. Pharmacies will probably see increase of sales during this period of time - supplements, generics med, repeats of medication.
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cheng
Will the divergence of economic data and stock market remains or the long awaited double bottom coming? :) nevertheless, looking at Gtronic, Inari’s performance, indeed a slow down in these sector. We maybe able to get on board soon :) waiting patiently.
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1 Like · 1 week · translate
Rafie Jainuddin
Thanks Cheng, will continue monitor their upcoming earning report by end of this month. US-China trade war escalate again, oil price rally seems affected by the news
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王襱胤
yup, cheng bro..hit n run better XD i will wait patiently with u :)
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cheng
Yes, Rafie. My personal opinion is still politics of divergence as US election is coming. Trump’s administration needed something to rally the people and divert the attention of poor handling of Covid19 situation. He is a businessman by background and stock market has always been his “KPI”. The economic/PMI indicators are bad but stock market has been rallying. That’s the divergence I am referring to. Each time it touches key SMA, it fell again. As for oil price, it has gone up a lot and normal to have corrections. Oil price will not go up too high too fast as that is bad for growth :) when there is inflation, there is growth. Countries are slowing productions and economies are reopening, the next thing that will happen in months to come would be demand more than supply for oil, that’s where oil price will start to go above $40.
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2 Like · 1 week · translate
cheng
Yes, Wang. Long holiday coming and good opportunity to update your data/charts. Will be updating my files as well for those that have just released its latest QR.
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Rafie Jainuddin
There's also news that China scraps their GDP target for 2020, I think this make it harder for everyone also since other countries depending on China growth a lot as 2nd largest economy in the world. The sign of economic downturn is so clear but I wonder how stock market keep soaring up.
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1 Like · 1 week · translate
cheng
Probably China could not meet its GDP target :) and I agree with you the signs and facts are clear. We just need to be cautious as retail investors - we want to participate in panic relief rally/bear rally/v recovery but should not over expose if we are the type that believes in fundamentals indicators - PMI indicators, retails, unemployment, yield curves, GDP. Look at the recent reports and you will noticed that the impact is real :) As Wang said, hit and run. Or use trend lines/price actions to assist with your exit/stops planning during this rally.
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2 Like · 1 week · translate
王襱胤
alright, cheng bro.. i will did it when holiday, hehehe. thx :)
1 Like · 1 week · translate
lee sean
Exactly Cheng. Among all kind of medication, usually damn expensive will be those acute disease medication like antibiotics, antiviral... Fact is covid pt 80% above doesn't need any antiviral medication, nost of the time only some symptomatic supporting medication like panadol, cough syrup, flu pill etc... Those cost damn cheap and max 3 times a day only... Plus some took when necessary... Therefore if compare normal elective cases or acute cases pt, those medication they need for...
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1 Like · 1 week · translate
lee sean
.... Covid pt will be not significant enough to take over the quota of usual cases... Only my opinion... Could be wrong
1 Like · 1 week · translate
cheng
I agree with you, Sean :) Covid19 is an interesting topic itself - virus and vaccines; different school of thoughts. So, it creates an opportunity for beaten down industry and disruptive technology. Without covid, it’s tough to replace the existing systems in place or make known its superior attributes. :)
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1 Like · 1 week · translate
lee sean
Cheng, mind to get some of your opinion on Kotra and it latest QR
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Ricardo Siau
afternoon cheng, what's yr view on lambo?
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cheng
Sean, I briefly looked at its latest QR and compared with the previous year performance. Not much safety margin at this point of time based on $30M fcf target; fair value $2.59. There is possibility that it will be able to achieve higher fcf for current fiscal year but may not be sustainable due to lack of contract mfg. While it is in compliance with cGMP for PICs guidelines, it has more work to be done if it intends to penetrate US market - 21 CFR Part820 is just an example of the requirements. Malaysia will be its primary market and if it cannot secure contract mfg build, it will be tough. On the other hand, if there is an announcement of successful bid of contracts, you can then start initiating position. A safe entry would be at $1.81 and below. Technically, it’s showing that it has broken above the previous high but I would suggest to observe it first as it is on the high side of its valuations; insufficient margins of safety.
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cheng
Evening Ricardo, I would suggest to ignore this. I am not sure your objectives of investment/trading, but if you would like to have some speculative stocks for trading purposes, there will be better ones from time to time. Most speculative stocks uses “theme” based operations. Once you detected theme based operations at work, you can then use your own technical analysis to trade it accordingly. Example - glove stocks which is currently a covid theme based operations at work. The outcome is still the same - decent gains.
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1 Like · 1 week · translate
Tan Tze Hong
hi Cheng, could you share your opinion on Gadang? I notice this company, most of it's contract are government related project I.e tun razak exchange and also it's utility segment, although the revenue is small compared to other segment, but it do provide recurring income to the Company.
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Ricardo Siau
thx cheng... same like another chinese conman company to me too
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lee sean
Thz Cheng, the reason I ask you is because Kotra roughly same counter with Pharma. I am sure u compare both counter be4 that why u more prefer pharma...
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cheng
Hi Tze Hong, construction is a tough sector without fiscal spending - mega projects, infra projects. Many players in these sector aiming for the same pie :) it all depends on your objectives. (1) If you are looking from long term positions, gadang is ok. I briefly looked at its latest financials and assuming gadang can maintain $60M fcf yoy, I am in the opinion the fair value is at $1.03 and current price offers 60% mos. The lower it goes the higher the mos and the safer it is especially in such sector. (2) if you are looking for positions in construction sectors, I presumed you would have looked at all the companies in these sector and shortlist a few of it and keep track of it. You should be open and flexible to rebalance your portfolios accordingly within the shortlisted few as and when it is needed. Just my opinions, could be wrong. Hope it helps.
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1 Like · 1 week · translate
Tan Tze Hong
hi Cheng, thanks alot. yeah, I'm looking at long term position, for around 6m to 1 year.
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cheng
You are welcome, Ricardo, Sean. Yes, I did compare it with a few more end of last year and early of this year before deciding on Pharma - kotra, dpharma, yspsah, ahealth, kpj and ihh. Back in early of this year, pharma presented with the best margins of safety from valuations perspective. Hence I picked it. And when it met its valuations at 2.49 last week, I exited all my positions on pharma. Right now, most of these are near or exceeding its valuations. Hence, observing whether will there be any theme based operations - covid/vaccines/supplement :) if there is, possible short term trades arising for those with strong trends.
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1 Like · 1 week edited · translate
Ricardo Siau
cheng, congrats on yr pharma trades, nice insightful move
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cheng
You are welcome, Tze Hong. Hope it helps with your research. Thanks, Ricardo. I don’t have positions in pharma for now and happy for all the pharma shareholders. Will still keep pharma in my watchlist :)
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eng hock ooi
bro cheng, any suggestions for TM safe entry
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cheng
It depends on your objective, Eng Hock. If it is long term position, can consider between $4.00 and $3.32 which is 40% to 50% mos. Technically, its out from its bottom back in Oct’18 and May’19; resembling complex head and shoulder bottoms which typically is flatter and longer since reversal happening in major bearish trend from 2014 to 2018. Good to note that there is a change in the leadership as well. Hence, it takes time fundamentally and technically. Just my opinions, could be wrong. Hope it helps with your research.
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eng hock ooi
bro cheng, thanks for your opinion.
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lee sean
Cheng, you are one of the most patience investor i know... Glad that able have the opportunity to learn from u.
1 Like · 6 days · translate
cheng
You are welcome, Eng Hock, Sean. We are learning from each other. It’s good to continue to exchange opinions.
1 Like · 6 days · translate
Vincent Wong
Good morning Bro Cheng.what is ur opinion about hwgb?jz wonder y most of the ppl focus about glove stock(mask) instead of test kits.in my opinion demand to test kits are higher than mask in future since there are lesser competitors in test kits compare to mask
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cheng
Morning Vincent. My personal opinion on hwgb is that it is more towards the speculative side of it rather than the business itself. Hence, you should just manage it technically without worrying about the difference between masks, gloves, test kits. (1) the company has been trying out with different business and didn’t last long each time. Recently there is also a take over offer saga which is unfolding at the back of the news of the test kits. So, I would say noise traders would have jumped in. (2) Msia’s glove producers are ranked top in the world in terms of capacity. Covid theme played out nicely this time at the back of favourable forex; though capacity expansion is on going. And the fight between top 2 economic power, has also benefited glove producers. Test kits from hwgb is new and demand for it cannot be compared with glove demand worldwide :) (3) test kits itself has a few variance and challenges. Apart from the test itself which can be only done by hospitals/accredited laboratories, the kits itself has the swab and reagents; which has its limitations/challenges as well. There are a lot of companies offering test kits. I am not sure what test kits hwgb is providing and you may have better informations. (4) since its full of uncertainties and speculative if you will, it’s good to have your exit and stops plan upfront. Ride it until the trend breaks perhaps; depending where your entry level is. Just my opinions, could be wrong. Hope it helps with your situation.
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1 Like · 6 days edited · translate
Vincent Wong
Noted Bro Cheng.nice opinion.Tqvm
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Rafie Jainuddin
Hi Cheng, speaking of glove producer like Harta, supermx etc expansion plan, do you think HLT company will be really benefited? They're the only glove-dipping line provider in the Bursa that I'm aware of.
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cheng
You are welcome, Vincent. Hi Rafie, I am not sure about supermax but Harta and Topglove expansion plan have been put in place since two years ago. If HLT is benefitting from it, it should be reflected in its earning moving forward. As of last year plan; Harta’s plant 6 will be operating in Q1’2020 and plant 7 in 2nd half of 2020. Dipping lines would have been ordered and commissioning in place perhaps. Additional $600M plus capex forecasted for the next 3 yrs until 2022. Topglove expansion plan which is to increase from 33 factories to 38 factories by end of Dec’2020; which we are talking about additional 200 lines from last year until end of this year. If we look at the numbers, seems that it’s not reflected in HLT’s revenue. Possible that Harta and TopGlove using different dipping lines manufacturer. Looking at the future directions for both Harta and TopGlove, it’s not about capacity anymore but rather efficiencies and innovations. May not see exponential new dipping lines orders but rather modifications/improvement to existing lines. Hence, can keep an eye on HLT’s revenue growth qoq for signs of growth.
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2 Like · 6 days · translate
Rafie Jainuddin
Thanks Cheng. From their 2019 AR they secured 16 new lines order (10 from local customers) for the year, I tend to agree this number seems too small to account from Harta and Topglove expansion. On efficiency, I read that HLT have new technology to upgrade from 2 production lines to 3 lines, will keep watching if they can leverage on this. FY19 if first full year contribution from their glove business, it account for more than 60% of group revenue, but the profit margin seems too small <2%
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Rafie Jainuddin
I just put HLT under my study, just wanna see their growth. If you don't mind Cheng, did you have any look at KPOWER? Since Serbadk founder acquired majority shares of this company last year, they have quite a turnaround. Read company announcement they wanna propose new shares and do share splits afterward. Normallyy what is the purpose of company doing this share splits?
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cheng
You are welcome, Rafie. Have faith in your own plans and it’s really good that you are going for details in its financial report (qr/ar) and connecting the dots - making sense of the numbers. In terms of efficiencies, I am actually referring to manual operations to automated - example introduction of robots/fully automated lines. Current pandemic fear has successfully pushed forward the benefits of IOT and big data. Labour intensive works were impacted tremendously by the pandemic fear. As for kpower, I did not check it’s details but I am aware it’s getting projects similar to Rohas; it’s more industrial rather consumer classifications :) share split for kpower is probably to improve its liquidity as it has about 82M shares right now, too thin. You may want to take note of it’s par value of 0 which means it has 0 face value. Decision to split or bonus share affects par value and when par value is 0, it makes no difference. However, look at it from existing shareholders and new investors perspective. Bonus is a good thing for existing shareholders, split is good for existing shareholders and new investors. That will give you an idea what the mgmt is trying to do. Hope it helps.
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王襱胤
cheng bro, morning :) seems like oil price move stable between 30-40us..today w counter so attractive, got chances maybe... XD
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cheng
Morning Wang. Yes, that should be the range for this year. High oil price is not good for growth. As for w, it almost touches the beginning of safe entry. I saw it too. Waiting for alert to trigger :) No rush as there is additional noise level at current market - the high participation of retails. So, just develop your plans accordingly and execute it well :)
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1 Like · 5 days · translate
王襱胤
noted, i know what ur meaning... i will hit n run, thx bro :)
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Vincent Wong
oil might fly until usd 45.Bro Cheng,rmb to let me know when u do open the finance class.I m sure I m the one support ur class.rmb hello me.
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cheng
You are welcome, Wang. Lol, Vincent. You should have faith in your own plans and your past trading records is the best place to start with it - review it and ask what went well and what not, your exit/stop plans were according to initial plan or driven by market :) Congrats on your hwgb.
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1 Like · 5 days · translate
Vincent Wong
Tq Bro Cheng.same as urs
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Tan Tze Hong
Cheng, may I know you are looking at which oil & gas counter?
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cheng
Tze Hong, i have position in hibiscus and looking for two more segments to complete my positions in O&G. Hibiscus is upstream and the other two segment is downstream and service providers. Service providers will be the last one to initiate (probably end of the year or next year) as this segment will be hit the worst. I have a few downstream counters that I am observing which are lctitan, hengyuan and petronm. These 3 are very different though considered as downstream. Hengyuan and PetronM are similar but PetronM is considered integrated downstream as it has its own channel of marketing and distributions of its refined crude products while Hengyuan delivers 90% of its refined crude products to one retail distributor in Malaysia (part of its long term contract; also known as POA). Hengyuan and LCtitan are both refineries with different products. PetronM has released its QR and by business segment itself, the loss is expected. Next QR will be bad as well - lower demand (lock downs) and low crude oil price and refining margins. Waiting for Hengyuan’s report and analysing LCTitan’s report. Some positive signs from LCTitan’s report and naphtha price; negative side is demand and product selling price. Are you looking at O&G as well?
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Tan Tze Hong
Cheng, Yeap, I'm looking at oil & gas as well. but couldn't decide on which company to look at in details. based on your explanation, it definitely provide me with further insight to indentify which few companies
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Tan Tze Hong
cheng, continue from my yesterday post, I'm looking at wah seong as well
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cheng
Alright, Tze Hong. There are changes in fundamentals ( total order book) as shared previously and based on that, I have also revised my own target price for it. If it falls into the safe entry or attractive price level, I will consider to initiate position and monitor its order book progress again.
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之乎
Cheng,
How and where can we find the order book apart from the company website?
Quarterly report does not disclose order book I reckon.
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cheng
Hhc, it’s in the report and I have always tracked it in my excel based on the info provided. Go to notes to financial statement and point 16 which is prospects. It’s there every quarter. Have a look at it. Hope it helps.
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2 Like · 3 days · translate
Tan Tze Hong
Cheng, may I ask, are you involving in financial industry? seems like you're a person with financial background or accounts background as you manage to analyse things well and kept a record of it. anyway, your insight definitely enable me to gain more knowledge.
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1 Like · 3 days · translate
cheng
You are welcome, Tze Hong. Keeping track of it helps me to review its progress from time to time and I don’t have to reopen its previous report. And when you have a series of data over the last several years, try matching it with the share price performance and you will be able to see the correlations well enough :) it is also useful to keep track of it for discussion and exchanging opinions purposes. I can share my opinions as I learn from others at the same time for the same topic.
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eng hock ooi
Bro cheng morning, can share why you confident with airasia? airport is empty and planes not flying.
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cheng
Morning Eng Hock, indeed empty. It’s calculated risk perhaps. Without COVID, I will not be able to get AA at this price. Will this pandemic cause AA to default? That’s something that I have decided to take risk. My avg price offers slightly more than 50% margins of safety and I hope to add further to bring it down to 60% margins of safety. Hope to add at 0.60 and 0.45. Could be a bad investment decision or may need to wait for more than a year to achieve target price. Hope it helps.
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1 Like · 1 day · translate
王襱胤
high risk high return, cheng bro, wish u goodluck first :) i sold w counter with small profit, wait other chances..hehe..
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cheng
Thanks, Wang. Will just keep it until it reaches its fair value of $1.50 per the conservative calculations. If the progress it made after starting to fly again is way better, will revise it accordingly. As for W, i think it’s a good move you have there. The service providers for O&G industry will be hit the worst imo. Good to be conservative. If speculations started for w, can use the fair value as reference to manage the exit :)
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1 Like · 1 day edited · translate
王襱胤
ic, thx cheng bro.. happy to see that u made good profit again in hibiscus counter... hehe.. u r so strong as a value investor , will keep learning with u :)u busy ur things, i will rest first.. fighting togather XD
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cheng
Thanks, Wang. I am learning from you guys too. I guessed the most difficult part is waiting - specifically following your own plans when it’s losing position, profits going down or no changes while you are being exposed to gung-ho or negative comments. Really not easy :)
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1 Like · 1 day · translate
lee sean
Cheng, u power leh, Aa fly alr...I totally agree with Wang, both us quite impressive on how you apply your value investment strategy. Once again, congrat on your hibiscs and AA. Btw i am inside the ride with you now, just join in before lunch today...
My China buddy just bck from Shanghai, he told me China airline actually resume up to 80%... Just only oversea flights still remain at low %.
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1 Like · 1 day edited · translate
之乎
The market does not follow my plan.
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Ah Choon Wong
之乎
Use William O’Neil’s CANSLIM method and 52-week low Formula are the best strategy, 攻可进,退可守
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之乎
no time now, son's online studying started, has to guide him.
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cheng
Thanks, Sean. It’s a learning journey for me too. There are signs that jet fuel is rising as well - obviously driven by demand. Nevertheless, the risk for AA is still a valid risk. Lots of pessimism :) manage the risk well (volatility, dollar cost averaging) and I think it’s a risk worth taking. (1) it is a 15 to 20% range net margins business before the pandemic. I think it’s a decent business in an industry that is highly leveraged (2) bcos of its profitability, there is a possibility that it may be subjected to takeover by regional firms. Is it attractive? I compared its EV/Ebitda with Indigo (India’s largest low cost airlines) and AA has a lower ratio. In general, a lower EV/Ebitda ratio is considered a better takeover candidate. AA brand is not too bad as well. (3) as for the pandemic related news and vaccines, there are different school of thoughts. The western media publishes vaccines developer from the west only and not much mentioned about China. Probably not many are aware that there are several vaccines from China which has gone into phase 2 clinical trials. Next phase is where the vaccines needs to be tested in places where it is still spreading rapidly. One example is Sinovac Biotech from China which is already in discussion with WHO. At the same time, US pulling out from WHO :) vaccines will help those with weak immune system but my personal opinion is that it is not needed for a healthy person. (4) if there is panic sale in coming months, I hope to add at $0.60 (60% margins of safety) and $0.45 (70% margins of safety) if the price is available. Hope it helps.
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1 Like · 1 day · translate
cheng
Hhc, probably yet to. Have faith and you should disconnect to enjoy the present/beautiful moments together with your son :)
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lee sean
Cheng, i realise u really do very well and detail research on a company therefore give u a very solid confident to buy and hold it. 0.6 and 0.45 sounds awesome, i would like to have that price too.
1 Like · 23 hours · translate
之乎
The heats are so hot on most of the stocks, seems like Airasia can NOT go down to 0.60.

Even many worser counters are now joining in price climbing.
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Ikram Rasid
Investors know that AA and any other airlines stocks will pick up sooner or later. It is good to ponder the right entry price for AA, but I doubt it will go below 0.6, and if it really do, many will rush to the counter and that itself will push the value of stock further up.

The more investors anticipate for its upward, the less likely it will fall. But, fundamental analysis is crucial hence I applaud @cheng your analysis on AA's earnings versus its peers in the industry.

Cheers!
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Like · 23 hours · translate
之乎
idss will be lifted soon...let's see.
idss players are every where.
which date is the first lifted day of Idss ?
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之乎
idss players were burnt , they may seek revenge doing the same idss action?
If idss actions are repeated again, will SC ban it for second time, 3rd time, 4th time?
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eric leow
Airline business is not going to die,flying is a necessity everyone needs to travel especially AA which is already a household name. Tf has done a lot of groundwork before the pandemic, i believe he will not let his empire vanish easily.
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Ikram Rasid
Nice lah, Eric Leow, you Manchester United fan ya? Cannot wait for EPL to resume with fans and spectators full house home matches.
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lee sean
Cheng, there is alot things hope can learn from you. do you mind we exchange contact through email?
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eric leow
Yeah Ikram expected to resume by end of this month
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cheng
Thanks for the sharing, everyone. Manage your own AA positions well and follow your own plans. All of us shared opinions on the fundamentals aspect and the risks. Imo- 40% mos is at 0.90 and coincide with the top of the rectangle consolidation pattern from the hourly chart. As the saying goes, technical analysis refers to the value of stocks perceived by those who is buying and selling it.
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3 Like · 12 hours · translate
eng hock ooi
Bro cheng, Thanks for sharing AA, and manage to get it. :-) . How about hibiscus still can buy? Oil price going up a lot.
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cheng
Have faith in your own plans, Eng Hock. As for hibiscus, current price is near to 40% mos and I would say it is insufficient mos near term. Additionally, current optimism of crude oil is also influenced by upcoming OPEC meeting whereby it is highly anticipated that the production cut will be extended to July. When price is up, non OPEC producers will probably start increasing productions again. My personal opinion - not a good idea to buy hibiscus now. You will have to weigh the pros and cons. Just my opinions, could be wrong. Hope it helps.
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之乎
Hi Cheng, what is Imo?
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cheng
Hhc, it’s in my opinion :)
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Chang Yong
hii. just come here.. any news about this?
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之乎
I have gone to check Imo indicator in charting.
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cheng
Thanks for pointing out, Hhc. My bad that you ended up thinking it’s an indicator. Chang Yong, we are just exchanging opinions here and nothing related to Parkson.
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Ricardo Siau
bro cheng, what's yr view of the digital insurer vs the established insurers like lpi, takaful, mnrb...
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Chang Yong
ohh okokk.. btw. I have no idea to buy in which campony
Like · 6 hours · translate
cheng
Ricardo, I would say still insurance business when you removed the word digital. Looking at the two words separately gives you clarity of what is it about and when you combine it, it’s still insurance business. Different perspective to look at (1) customer point of view - younger generations, tech savvy, telepresence - digitisation (2) from insurer perspective - possible cost savings and broader market. Can be a game changer for financial hub like HK and Singapore. Imagine insurers from both countries using the technology to reach out to China’s customers :) (3)because it is insurance business, it’s something that is also heavily regulated and it’s a mature business; growth tends to tag along with GDP. (4) IoT/digitisation trend like fintech startups and insurtech/digital insurers will most likely kick off with partnership with existing established household brands - the newbie has the technology while the established has the market and trust when it comes to money. Hope it helps.
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1 Like · 6 hours edited · translate
Ricardo Siau
cheng, may i know what u think of tuneprotec?
Like · 5 hours · translate
cheng
I briefly looked at its historical financial performance and 2017 is the start of its downfall. What I can see is that it’s ROE fell significantly to less than 10%. I did not dig further but since 2017, the ROE remained less than 10% and coincidentally share price remained subdued. If you are interested in tunepro, I would suggest you drill deeper into its report to determine where the shortfall is. Should be able to call it out if you get into the details for the last 4 years annual report. Alternatively, start to pay attention when it’s ROE starts improving >2.5% per quarter. You can use klse.i3investor financial segment for tunepro to monitor it. It’s a nicely populated table. And try to match the ROE performance with its share price movement and you will see some correlations :) just my opinions, could be wrong. Hope it helps with your research.
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1 Like · 5 hours edited · translate
Ricardo Siau
thx sifu cheng
Like · 4 hours · translate
cheng
You are welcome, Ricardo. Cheng will do. I am learning too; via exchanges of opinions. Chang Yong, maybe can start off with something that you are familiar :)
Like · 2 hours · translate