Wednesday, November 25, 2009

Hot Pick Stock, BJTOTO



12/12/2008   7.0 sen

07/12/2007   8.0 sen

08/12/2006   25.0 sen

09/12/2005   12.5 sen

08/12/2004   8.0 %

17/12/2003   8.0 %

18/12/2002   5.0 %



8 DEC 2009 ???

Wednesday, November 4, 2009

The mystery of Sugar King Kuok exiting sugar business in M'sia

IT is and probably will remain a mystery why Tan Sri Robert Kuok has exited the sugar business in Malaysia. It is likely though that the following reasons played a part: First, the Malaysian sugar business is small compared with Kuok’s vast businesses overseas, especially in China.

Second, Kuok got a decent price for his exit and third, the Kuok group was unhappy with developments taking place at Tradewinds (M) Bhd, where a proposed acquisition of Padiberas Nasional Bhd (Bernas) is likely to result in Tradewinds having an unreasonable amount of debt.
Kuok’s business empire in Asia needs little elaboration. Suffice to say, his net worth of US$10bil (RM34.3bil, based on Forbes magazine’s estimation) makes his Malaysian sugar business small by comparison.

The Kuok group’s Singapore-listed plantation giant, Wilmar International, has a market capitalisation of S$39.1bil or more than RM95bil.

To recap, Kuok’s vehicle, PPB Group Bhd, is getting RM1.25bil from the sale of its sugar refineries and land used for sugar cane cultivation to Federal Land Development Authority (Felda). Of this, the largest asset is the Prai-based Malayan Sugar Manufacturing Co Bhd (MSM) operations, that was sold for RM1.2bil.

PPB Group said its cost of investment in MSM was RM60mil (incurred from 1976 to 1999), thereby giving it a massive gain of RM1.17bil from the sale.

That amount is justified, given that the investment had been made a long time ago as well as the fact that the Kuok group had managed the business well.

Furthermore, the price of RM1.2bil represents a price-earnings multiple of 9.8 times MSM’s FY2008 earnings and a price-to-book ratio of 2.46 times. On both counts, the deal seems to have been reasonably priced.

PPB Group had also disposed of its 20% stake in Tradewinds to Felda for RM207.5mil or RM3.50 per share. This was done at about a 20% premium over Tradewinds’ three months’ weighted average market price. While some could argue that this was at too high a premium, it should also been seen in light of the fact that Tradewinds’ net assets per share stood at RM4.63 as at June 30.

Kuok’s exit from Tradewinds had been speculated in media reports, soon after the latter announced plans to buy into Bernas.

In 2002, Tan Sri Syed Mokhtar Al-Bukhary had surfaced in Tradewinds and become a partner with the Kuok group. Syed Mokhtar controls about 43% of Tradewinds, compared with Kuok’s 20%.

It had been speculated that the partnership had been uneasy, although that could not be verified. Still, the fact remains that Syed Mokhtar owes Tradewinds some RM200mil and there have been related party transactions involving Tradewinds and him.

For example, Syed Mokhtar is said to control about 22% of Bernas, the company that Tradewinds is planning to buy. That purchase will gear up Tradewinds to unreasonable levels. There is now also a proposal for Tradewinds Plantation Bhd, a 70% unit of Tradewinds, to buy rubber conglomerate Mardec Bhd for RM150mil.

Syed Mokhtar is believed to be linked to Semi Bayu Sdn Bhd, which owns Mardec. The price of RM150mil was arrived at based on a valuation done by Ernst & Young, which used such benchmarks as adjusted net assets, discounted cash flows and the dividend discount model.

However, the announcement by Tradewinds Plantation does not provide any more details on how Mardec stacked up on these valuation methods. There is also no information on Mardec’s earnings.

There has been at least one other related party transaction involving Tradewinds and assets controlled by Syed Mokhtar.

Back to Kuok. PPB Group’s sugar refining operations are undertaken by MSM and a joint venture with Felda – Kilang Gula Felda Perlis Sdn Bhd –- which is also being sold to Felda. The two produce over 700,000 tonnes of refined sugar yearly. Kuok’s exit from these business is bound to have repercussions.

“With Kuok’s exit, will the management remain the same and as efficient, going forward?” asked an industry observer.

To be sure, Felda is seeking to reinvent itself. The entity that is buying PPB Group’s businesses is Felda Global Ventures Sdn Bhd (FGV). FGV is the new commercial arm of Felda aiming to spend over RM6bil in the next five years to expand its overseas presence in its core plantations and related businesses.

With that kind of firepower, it is conceivable that FGV may not be content with its 20% shareholding in Tradewinds.

“It is possible that Felda could seek to take over the operations of Tradewinds, considering that the latter will have Bernas in its stable,” said an analyst. Bernas is the country’s sole rice importer, with a wide marketing and distribution network nationwide.

At what price will Syed Mokhtar be willing to cash out of Tradewinds is another matter.

As far as Kuok is concerned though, this “cashing out” of Malaysia is more clear-cut than what happened in December 2006, when PPB Oil Palms Bhd injected its palm oil operations into Singapore-listed Wilmar International Ltd.

The counter argument then was that the merger brought about economies of scale and Malaysian shareholders still benefited, as there was a share swap, with PPB Oil Palm shareholders receiving Wilmar shares.

Furthermore, PPB Group ended up owning close to 18% of Wilmar, so the argument that Kuok was exiting Malaysia did not hold up.

Indeed, Kuok still has other small businesses in Malaysia and Wilmar even recently paid RM46.2mil for a stake in little-known Three-A Resources Bhd to venture into China together.
But the value of these businesses is small compared with Kuok’s sugar business here. In all likelihood, Kuok is unlikely to be troubled by the recent sale of his sugar assets here.

OSK Research reckons that the PPB Group may use the sale proceeds to invest in Wilmar China, which is planning an initial public offering in Hong Kong.

And judging by the way Wilmar’s China businesses are growing, Kuok is likely to get more bang for his buck by putting his money there. And so too will shareholders of the PPB Group.

Tuesday, November 3, 2009


2009-11-03 12:41





商業操作的話,就令人費 解,15億令吉是大數目,脫售令PPB集團和郭鶴年都賺不少。但是, PPB集團並不缺錢;而郭鶴年貴為大馬首富,身價高達307億令吉,最多就是錢。







如果他是因為其他“不為外人所知”的原因,不得不賣掉“祖業”,把“大馬糖王”的寶座讓給賽莫達坐,如果“這背後原因”讓 郭鶴年決定退出大馬商界,這對積極吸引外資的大馬經濟,拼命說服海外公司來上市的馬股來說,都是震撼彈!




Sunday, October 11, 2009

Stock Event: Trading within the Bands

Date: 11 Oct 2009 (Sunday) 
Time: 10:00am - 12:00pm 


Paragon Hotel 
Diamond 5 - Level 6
18, Jalan Harimau,
Taman Century, 80250,
Johor Bahru, Johor,

Date : 18 Oct 2009 (Sunday) 

Time : 9:30am - 11:30am 


Gurney Hotel 

Function Hall 1
18 Persiaran Gurney
10250 Georgetown


Date: 24 Oct 2009 (Saturday) 
Time: 10:00am - 12:00pm 


Heritage Hotel 
Meeting Room 1 - Level 1
Jalan Raja DiHilir
30350 Ipoh
Perak Darul Ridzuan

The Bollinger Bands was developed by Mr. John Bollinger. It is widely used by traders to trade the market effectively.

Many traders often miss the right entry point which might cause a lesser profit or even worst a loss. One of the usages of Bollinger Bands is in the powerful Bollinger Squeeze, which triggers high probability buy or sell signals. Just think of the possible benefits you will get by having indicators to buy as well as to sell!

Learn more about Bollinger Bands and use it to trade to your advantage.

Seminar Outline

Introduction to Technical Analysis

This seminar will cover the concepts of Bollinger Bands and will showcase how powerful Bollinger Bands to find for a buy and sell signals. The highlight of this seminar will be on how to obtain clear and powerful signals from Bollinger Bands and ride through the trend. This indicator can help trader to take advantage over others in timing their entries and exits.

How to construct Bollinger Bands
What are the trading signals with Bollinger Bands
How to identify the "high" or "low" with Bollinger Bands
Learn how a software can help you pick the next winner in 10 mins

Sunday, October 4, 2009


除了PA(preference share)之外,这些产品是统称为derivatives.所有的warrant,call warrant,iculs等都有以下的共同点,

1.转换价(excersise /strike price)
这是把warrant转换为母股的价格,cash settled call warrant方面,这是作为计算赚/损的价格。

2.寿命期(expiry/maturity period)
所有的warrant,callwarrant,iculs等都有一定的寿命期,warrant一般上是五到十年,能否延长是取决于发行warrant时的deed poll,以及Bursa andSC的批准。CA早期有四年的(例,Khazanah 发行的MISC-CA),但最近所发行的CA寿命期非常短,CIMB发行的CA是八个月,AMMB发行的CA是一年。CA不能延长。icul寿命期从二到
到期的warrant&call warrant假如没有转换为母股,将成为废纸,现金结算(cash-settled)CA例外。到期的iculs自动的以转换比率换为母股。

#2 Warrant 是怎样来的?
当一间公司筹资时,会选择发行附加股(rights issue)或债券(iculs),为吸引小股东们认购,公司通常会加上甜品,也就是warrant.Warrant 本身起源自call options.请看看Investopedia 对于calloption的定义:

An agreement that gives an investor the right (but not the obligation) to buy astock, bond, commodity, or other instrument at a specified price within aspecific time period.




#3 CA,CB,CC。。。

Call warrant 基本上也是call option,但和warrant有稍微不同。
-Call warrant 非由公司发行,issue者是第三者,通常这个第三者是大股东或者是Merchant bank 如CIMB,AMMB,OSK等。

-Call warrant分为covered或uncovered.covered warrant 是由大股东发行,(例khazanah发行的Telecom CA)coveredwarrant到期时只能够以转换价转换成母股,到期没有转换的covered warrant成为废纸。因为转换时没有涉及发行新的母股,公司的earning 不会dilute.

uncovered warrant也称为naked warrant,发行者通常没有或者只拥有很少量的母股。近来发行的call warrant多为这类。uncoveredwarrant结算时以现金支付,不能以转换价转换成母股。(例-Bj Toto 今天闭市价为4.60,如果某人拥有一千股CA要求结算,他将获得4.60减去转换价,也就是4.43,等于RM170。既然现今CA市价为0.34,要求结算者将要亏损RM170。手续费还没算入。)

covered and uncovered warrant结算时相对的一方(counter party)是issuer.

uncovered warrant寿命期一般上比covered warrant短。

不同时期由不同issuer发行的call warrant,由以转换价与寿命期个别不同,因此以CA,CB,CC等区别。

#4-Iredeemable convertible unsecured loanstock(Iculs)-LA,LB。。。
我暂时的跳过Preference share(PA),因为 PA不是derivatives.让我们先谈谈Iculs.

公司筹资的方法之一是发行loanstock(债卷),发行loanstock事实上就是公司向股东借钱,表明利率,年仿及到期时的偿还方法。Loan stock到期时的偿还方法有二种,一是现金偿还,二是以早先表明的转换比率转换成母股。现金偿还者称为redeemable loan stock,可转换成母股者便称为Iredeemable convertible loan stock.我们现在只集中讨论Iredeemable convertible loan stock。


Iculs不是股票,也不是warrant,发行Iculs时有份Trust deed说明利率,年仿,转换比率等。

Iculs因为不是warrant,所以没有time decay的问题,接近到期时不会越来越没有time value.

同样的,因为不同期限与转换比率等的差别,loan stock以LA,LB等来区别。购买loan stock必须留意convertible还是unconvertible,后者的capital appreciation 较少。



不同Ordinary share,Preference shares没有voting rights,股息取决于发行时相关的条款。股息又分为cumulative 和non-cumulative.

期权有二种,American style 和European style,American style 的期权可在任何时候要求转换,European style的期权只可以在到期时转换。
大部分的warrant,call warrant是American style,Iculs和PA是Europeanstyle,也有例外。
要转换母股,请首先由Stockbroker or registrar处取得excercise form填好,把转换价以银行本票方式附上给Registrar,大约三个星期,DONE!!!

回筹方面,假如是convertibleloan stock的话,它的起落应该会和母股平行。Unconvertible loan stock因为不能转换为母股,它的价钱起落不大,只会反映redemption amount on maturity减去/加上interestreceivable and risk premium for redemption .

关于iculs有趣的一点是假如是European style(届满时转换),它的价钱起落的behaviour和warrant相反,越接近届满时,越靠近母股价,没有time decay 的问题.

当一间公司发附加股或其他的筹资工具时,现有的股东们能享有以公司所定下的折扣价购买附加股或其他的筹资工具。这权利便称为"认购权"(rights to subscribe).一些公司的认购权是可以转卖的。这就是OS,OR的来源。

OS 和OR通常会在申请书寄出后,但before the closing date forsubscription前在Bursa交易二个星期。最后的买方必须以公司所定下的价认购附加股或其他的筹资工具,假如没有购买的话,OS或OR willlapse and成为废纸。
认购权的价值(intrinsic value)是不难估计的,(例,母股市价RM3,附加股为RM2.5,认购权的价值便是RM0.50),可是当认购的附加股或其他的筹资工具有附送如 warrant时,认购权的估值便变得复杂。因为多了一个可变的因素(variable),ie,warrant price.

Friday, September 4, 2009

Dividend of BJTOTO






Sunday, August 30, 2009


4.1.1 30% threshold ruleIf the reference price is above RM1, then a threshold of 30% is defined as higher andlower threshold. These thresholds are also valid at least for one session only.For upper limit, Bursa Malaysia will be adjusted downward to the nearest bid whilelower limit will be adjusted upward to the nearest bid.

4.1.2 RM 0.30 threshold ruleIf the reference price is below RM1, then a threshold of absolute RM0.30 is definedas higher and lower threshold. These thresholds are also valid at least for one sessiononly.


Saturday, August 8, 2009

FREE Historical Chart

History alway repeat in stock market...

In order to track the history, a lot of software need to pay.

Kindly share with you all, i had found FREE historical chart & quite good review...

Feel free to download from below link.


Saturday, July 11, 2009




1. 被套了。。。
2. “Error” on decision making…
3. 时间不够用。。。

但是BJTOTO就快发股息了。。。加上,之前买的数量将会得到odd unit treasurer share,于是再买进以便可以补满odd unit。在此,不忘提醒股友新手,在ex-date前补满odd unit,至少不会遗憾为何当初不补满它!


Tuesday, June 23, 2009

Minimum Bids

A minimum bid is the permissible change on the offer to buy price over the previous done or quoted price. When trading on Bursa Malaysia, bids and offers for shares within different price ranges follow different minimum bids.

The following are the minimum bids for the different price ranges:

Sourse: Bursa Malaysia

Thursday, June 18, 2009





KNM 从RM0.32(2009年3月12日),升到RM1.09(2009年6月8日),不到3个月就爆升好几倍。。。


2009年3月12日买进10,000units X RM0.32 = RM3,200 
2009年6月15日卖出10,000units X RM1.09 = RM10,900
扣除broker fees etc, 大概可以净赚RM7,600!

POLYTWR 从RM0.21(2009年5月14日),跌到RM0.05(2009年5月28日),两个星期就爆跌好几倍。。。
2009年5月14日买进10,000units X RM0.21 = RM2,100 
2009年5月28日卖出10,000units X RM0.05 = RM500
扣除broker fees etc, 大概可以净亏RM1,650!

终结:一支股要爆升很难,可能要花几个月。。。但是要暴跌,几天而已!!!正所为,下山比上山容易!!!只要一天还没离开股市,都须切记:RISK MANAGEMENT!!! 亏了就得:Cut Lost, Protect Capital!!!

Wednesday, June 17, 2009

Different within Treasury Share VS Bonus

Treasury Share:
公司把自家公司股票的收购(share buyback)分发给股们!
因此,numbers of share issued 没变!

公司也是派股票给股东们,不过是 把它分割化,如 RM2 一股变成RM1两股。。。
因此,numbers of share issued 会变!

Wednesday, June 10, 2009

DAYA, 0091 (DMB = Daya Materials Berhad)

8 June 2009, Daya had been announced will give away 3% of first and final dividend on 19 June 2009. Ex-date is around the corner, unfortunately, it just attract minor of the investor attention. 

As today, 10 June 2009 RM0.345, if buy 10,000units, cost RM3450 + broker fees etc = around RM3500

Ordinary share price is RM0.10, 
Dividend 3% = RM0.003 
10,000units, RM30 only... Added, the dividend had to deduct 25% income tax, so dividend less than RM30!!!

Definitely no attractive!!!

On the other hand, 10 June 2009 DMB announced Bonus Issue, one (1) new DMB Share (“Bonus Shares”) for every two (2) DMB Shares held will be issue on 22 June.  

So now need to do home work, company background etc b4 decide, when to BUY... plus when to SELL.

As my opinion, there is two suitable buy time. Either buy on 11 June (still cheap) & hold it, can get dividend plus bonus. Alternative, buy on 19 June will be more attractive... Once dividends give away, share price will be adjusted... can buy at cheaper price. Btw, will it be cheaper than 11 June, RM0.345 ???

**Remarks: All the sharing is personal view only, feel free to leave your comment. Pls make your own decision, calculate the risk & protect your capital! Thank you.

Thursday, June 4, 2009

Six Secrets of Money-Making Strategies

People carry debts to buy their dream. Average people study hard in university for years which is equivalent to buying a new house, and then they spend the next subsequent 20 years paying back their study loan.

They work hard for their pay and spend their entire life in debts and taxes.

By the age of 50, do they get the chance to relax and enjoy their fruits of labour in peace?

It is time for a change, get an extra income not part-time income.

Here are the six secrets to help you achieve dream without carry debts.

Secret #1 : Money is an idea

Making $10,000 a day is not simple but easy. If you think it is hard to make, you won't be able to make even $1,000 a day.

Change your mindset now, and find the right way to do it.

Secret #2 : Helping people to solve their problems, you will make money.

This is fact, you must give first before take. This is the simple rule and by doing it, you can get a lot of trust from potential customers.

Secret #3 : Focusing on things you know, you can and you have.

Not doing something that you are not familiar with.

Secret #4 : Working with a plan that creates passive income.

Fast or slow doesn't matter. Keep on working is more important.

Secret #5 : Work smart.

How the rich get richer is by investing their money in vehicles that produce passive income.

Secret #6 : Follow the footsteps of wealthy people and do things that interest you.
"The rich don't work for money, money work for them."

Source: Dr. Steven Lee

Friday, May 29, 2009

FD利息 versus股息,那一个比较高???

FD=Fix Deposit, 一年2%利息, 一定要期满了,拿出才可拿到那笔利息。

至于股息,只要在Ex Date前买,就可获得!
EX-date : 01/07/2009
Entitlement date : 03/07/2009
Entitlement time : 05:00:00 PM


假如拥有10,000units, 那么就可有RM200股息了。。。
以股价RM0.25计算,10,000units= RM2500.
*DIGI就在下周EX-Date,30 May 09大涨。。。





Wednesday, May 27, 2009


1. 炒股,成交量高的。容易买也容易卖。。。也可称投机股。
2. 名牌股,有知名度的。多数的基金经理都是攻这些股,有分红及股息。
3. 主题股,有季节性。假如买对季节,可以赚几百倍。


例子,Genting RM3.08 (10 March 2009)& Resorts RM1.84 (16 March 2009), Genting RM5.65 (25 May 2009)& Resorts RM2.89 (26 May 2009)

Saturday, May 23, 2009


当一支股被BURSA列入PN17,它就暴跌再暴跌,很可怕,随时都会跌停板,血本无归!!!相反的,假如这支股有机会翻身,在PM17榜上除名,肯定可以得到500%以上回酬!所谓,HIGH RISK, HIGH RETURN! 多数PN17都是翻身无望,没有好下场,等着跌停板而已!于是,被逼Cut Loss, Protect Capital!


在此奉劝大家,当一支股暴跌时,不要以为便宜就买,先看看有什么内幕消息,再打算值得投资嘛。。。保本(Protect Capital)是投资学里重要的一党课!切记,胆大心细,不要冲动,珍重!

Tuesday, May 19, 2009

Ten Tips to Succeed in Stock Market

1. Cut your losses. Let your profits run. 
Always remember to stop at 'stop loss' point. 
2. Learn from your losses. 
Make each loss a lesson to enrich your investment experience. 

3. Don't be greedy. 
People always turn their huge profits into losses because of greediness. 

4. Never leverage when in a losing position. 
A lot of people try to leverage when in a losing position. It is not a skilful idea. 

5. Observing. 
Standing aside is a good idea when you cannot judge the changing directions. 

6. New mindset to beat the market. 
Nowadays, making fast money is the new market trend and long term trading is already obsolete. 

7. Discipline and patience is the key to win. 
If unsure of market reversal, don't chase when it is high. 

8. Apply only a few strategies to suit different stocks. 
Using too many strategies will confuse you. 

9. Narrow down your focus. 
Do not focuses on too many stocks at one go. Limit to 6-7 counters. 

10. Find a good mentor. 

A good mentor is the golden key to your investment success.

Source: Dr. Steven Lee (Ph.D)

Monday, May 18, 2009


1. 向broker确认,是否qualify得到dividends。
2. 假如合格,打电话给上市公司的registrar询问详情。
3. 写一封公函给registrar注明没有收到。
4. Registrar将会回信,要求declare没有收到dividends,贴上RM10 revenue stamp及附上RM5费用(handling fees for re-issue dividends)!
5. 把declare信,RM5费用(可以使用wang pos或者支票),RM10 revenue stamp寄回给Registrar。
6. 那么您就会收到dividends了。。。

假如dividends很少,就不值得request re-issue,但是这是很不错的经验!

Sunday, May 17, 2009

"CIMB vs OSK, which 1 is better"

以下评语是从目前拥有两间投资银行的户口,CIMB & OSK做的比较。

CIMB 免费,CIMB拥有两个选择,DIRECT或者NOMINEE (全都是免费)

网上交易佣金(Internet trade Brokerage Rate):
CIMB RM12(min), RM8.88* 的附带条件是RM10,000 (To be maintained at all times. The available balance of RM10,000 is after deducting settlement amount due for the day).
OSK RM28 (min),凡交易超过RM100k,可以要求下调至RM12 (RM100k可以累积计算)


总结:CIMB vs OSK,您认为哪一个比较好?
根据KLSE Broker排行榜,CIMB是领先众多的投资银行包括OSK。但是到目前我还是使用OSK!

危机=Dangerous Opportunity?


假如您是一位投资者,肯定会在危机里找有潜能的股,GENTING,RESORTS, MAS & AIRASIA!!!
刚刚有位好友问我,什么价钱该买进???说真心话,我不懂他会跌到哪里,几时反弹,一切有赖于“How much risk are you effort to take”!Remember, Buy Low Sell High!

每个投资都会有一定程度的风险,在于个人心思,切记不要冲动!看到别人赚赚赚,不能 tahan了也去投资,那么您肯定HIGH RISK了!!!


Saturday, May 16, 2009

Knowledge on how to maximize returns with minimum capital outlay and minimizing risk



Remarks: Perisai Bonus will be issued on 20 May 2009



Stock Engineer Life…

一个新的称呼Stock Engineer. 是货厂工程师???读完自有分晓!

见证,KNM从60仙跌到33仙,结果被套了将近半年!!!GENTING RM4.30跌到RM3.08,RESORTS RM2.40 跌到RM1.84时,为何那么棒的公司(蓝筹股)会落难到那个地步???

四月中至五月份,主攻蓝筹股, MAYBANK, AXIATA, IOICORP 还有,大马最贵的BAT!!!
Buy Low Sell High

目前主攻,KURASIA (为何这支股?请拭目以待!)


在此,奉劝那些还未或者正在炒股的,只有做功课有足够信心,就可向电影,Fast And Furious般,敢敢去,那么下一个股神“巴菲特”非您莫属!!!


其实,Stock Engineer是一个称号而已!或许可以称”股票工程师”吧!