KUALA LUMPUR: GREEN PACKET BHD []'s net loss widened further to RM31.85 million in its third quarter ended Sept 30, 2009 from RM10.29 million a year earlier, despite surging revenue, due partly to a continued heavy promotional activities and subscriber acquisition costs.
The WiMAX and broadband solutions provider said higher amortisation and depreciation costs for further expansion of the business also contributed to the widening losses. Revenue surged nearly 250% to RM63.04 million from RM18.17 million.
For the nine months to Sept 30, 2009, net loss widened to RM81.94 million from RM17.91 million a year earlier, while revenue rose 156% to RM160.99 million from RM62.96 million.
Green Packet said today its board viewed "2009 and 2010 as important investment years to prepare, position and expand the group's operations".
It said the ongoing investments in Malaysia, Singapore and Thailand was to establish a physical presence for long term growth in the provision of affordable fixed and wireless broadband and voices services.
"In view of these planned investments, the board of directors expects the performance of the group to remain as planned for the financial year ending Dec 31, 2009 with improved prospects for FY10," the company said.
Friday, November 13, 2009
Friday, November 6, 2009
Green Packet unaware of unusual market activity
KUALA LUMPUR: GREEN PACKET BHD [and REDTONE INTERNATIONAL BHD [, both of which were queried by Bursa Malaysia Securities over unusual market activity on Friday, Nov 6, replied they were unaware of any reasons for the activity.Green Packet said the only announcements made were in October about its Packet One WiMAX operations securing approval to launch services in East Malaysia and that it had secured the go-ahead to operate in Singapore.
RedTone said, after making inquiries, to the best of its knowledge, it was not aware of any reasons that might have contributed to the unusual market activity.SCOMI Research
SCOMI price was going down as many other counter are on the up trend because of investor believe market recovery is coming soon. You also can noticed that many shareholder disposed their share in big quantity and no buying from any financial institute.
The internet forum research conclusion is this is the political share and it future move will solely depend s on the politic move as well.
source from The Edge 6 Nov
Scomi Group Bhd's net profit rose 19% rise in net profit to RM22.98 million in its third quarter (3Q) from RM19.33 million a year earlier mainly due to the contribution from the energy and logistics engineering division.
One year history chart
8 months resistant = RM0.57
TP: RM1.00
The internet forum research conclusion is this is the political share and it future move will solely depend s on the politic move as well.
source from The Edge 6 Nov
Scomi Group Bhd's net profit rose 19% rise in net profit to RM22.98 million in its third quarter (3Q) from RM19.33 million a year earlier mainly due to the contribution from the energy and logistics engineering division.
One year history chart
8 months resistant = RM0.57
TP: RM1.00
MRCP 1651
MRCB has proposed a renounceable rights issue to raise up to RM566 million. The rights shares could be issued at RM1.172 each, a discount of about 9.8% to the theoretical ex-rights price of MRCB shares of RM1.30,based on the three-month weighted average market price of about RM1.36.The basis for the proposed rights issue is one rights share for every two existing MRCB shares held at the entitlement date.
MBSB's net profit for the third quarter (3Q) ended Sept 30, 2009 jumped 565% to RM52.68 million from RM7.92 million a year ago due to higher net interest income, the recovery of a major account and lower allowance for loans and financing losses. source from The EDge 6 Nov 09
Tuesday, November 3, 2009
ICAP at Discounted Price
ICAPITAL.BIZ Bhd. (Stock Code: 5108 ICAP) is listed in the KLSE on Oct 2005 as a company under the Closed End Fund section.
Closed Ended Fund vs Unit Trust Fund
A closed-end fund has a fixed amount of units. For instance, ICAP has a fixed 140 million units available. It will still be capped at 140 million units no matter how many people sell or buy it. In this case, the buy and sell price do not depend on the NAV but actually depends on supply and demand.
An open-ended fund doesn’t have a fixed amount of units. It can be 13 million units today and down to 10 million units the next day, depending on how many people have bought or sold the funds. The price that you buy or sell an open-ended fund is based on the NAV of the fund, which is calculated daily by the fund companies.
For instance, when you buy a Public Mutual fund, you are buying from Public Mutual directly at the NAV + entry fee (6.5%). If you sell, you are selling to Public Mutual directly at the NAV + entry fee (6.5%). But you don’t need to worry whether there are buyers or sellers available, Public Mutual will always buy or sell to you.
Since ICAP is also a fund, it also has its own NAV. But instead of being calculated and published daily like other mutual funds. ICAP NAV is calculated on every Wednesday and will be published end of Thursday on icapital.biz and klse.com.my.
Why We Need to Know the NAV
Logically, ICAP should be bought or sold around the NAV. So if the NAV is RM1.80, buy and sell should be around that amount. As a buyer, you want to buy it as low as possible. If the NAV is RM1.80 and you pay RM2.00 to buy it, you are actually paying a premium to buy it. It is OK to pay a premium to buy a good fund. When you buy a mutual fund, you need to pay 6% to 7% entry fee as well which is also a premium. However, this stock is trading below its NAV today which I find it is a good time to get it at this discounted price. No speculation for this stock, it is just the matter or worth it or not.
Even though this ICAP is not subjected to high entry fees but it is still has annual fund management fee of 1.5% to the NAV. Anyway, all mutual funds in Malaysia charge an annual management fee and 1.5% is the most commonly used. The fee is paid quarterly at 0.375% each (1.5% / 4) based on the NAV.
Another concerns is ICAP is taxed at the statutory tax rate of 27%. Compare with other types of funds. In long term, ICAP’s performance will be affected by taxation compared with other funds which have tax advantages.
Closed Ended Fund vs Unit Trust Fund
A closed-end fund has a fixed amount of units. For instance, ICAP has a fixed 140 million units available. It will still be capped at 140 million units no matter how many people sell or buy it. In this case, the buy and sell price do not depend on the NAV but actually depends on supply and demand.
An open-ended fund doesn’t have a fixed amount of units. It can be 13 million units today and down to 10 million units the next day, depending on how many people have bought or sold the funds. The price that you buy or sell an open-ended fund is based on the NAV of the fund, which is calculated daily by the fund companies.
For instance, when you buy a Public Mutual fund, you are buying from Public Mutual directly at the NAV + entry fee (6.5%). If you sell, you are selling to Public Mutual directly at the NAV + entry fee (6.5%). But you don’t need to worry whether there are buyers or sellers available, Public Mutual will always buy or sell to you.
Since ICAP is also a fund, it also has its own NAV. But instead of being calculated and published daily like other mutual funds. ICAP NAV is calculated on every Wednesday and will be published end of Thursday on icapital.biz and klse.com.my.
Why We Need to Know the NAV
Logically, ICAP should be bought or sold around the NAV. So if the NAV is RM1.80, buy and sell should be around that amount. As a buyer, you want to buy it as low as possible. If the NAV is RM1.80 and you pay RM2.00 to buy it, you are actually paying a premium to buy it. It is OK to pay a premium to buy a good fund. When you buy a mutual fund, you need to pay 6% to 7% entry fee as well which is also a premium. However, this stock is trading below its NAV today which I find it is a good time to get it at this discounted price. No speculation for this stock, it is just the matter or worth it or not.
Even though this ICAP is not subjected to high entry fees but it is still has annual fund management fee of 1.5% to the NAV. Anyway, all mutual funds in Malaysia charge an annual management fee and 1.5% is the most commonly used. The fee is paid quarterly at 0.375% each (1.5% / 4) based on the NAV.
Another concerns is ICAP is taxed at the statutory tax rate of 27%. Compare with other types of funds. In long term, ICAP’s performance will be affected by taxation compared with other funds which have tax advantages.
What makes ICAP so interesting vs other mutual funds in Malaysia?
As ICAP has low diversification about 15 stocks, its performance will not rely too much on what the overall market is doing. Whereas an mutual fund that holds too many stocks will not be able to outperform the market in a large margin in the long run. But an intelligently value investing portfolio that focus only on a few well researched stocks can easily outperform the market by a large margin in the long run.
On to of that ICAP has a good proven performace record and also the infamous fund manager Mr Tan Teng Boo who is also the founder and managing director of Capital Dynamics Sdn Bhd. Capital Dynamics is the fund manager of ICAP.
Endorced / modified the article from ahyap.com
Comments:
This is one of my favorite counter but this solely for long-term or mid-term investment just like you buying the mutual funds.
On to of that ICAP has a good proven performace record and also the infamous fund manager Mr Tan Teng Boo who is also the founder and managing director of Capital Dynamics Sdn Bhd. Capital Dynamics is the fund manager of ICAP.
Endorced / modified the article from ahyap.com
Comments:
This is one of my favorite counter but this solely for long-term or mid-term investment just like you buying the mutual funds.
Greed caused Confusion
"This counter has gone up way too fast, too high. I'm feeling quite uncomfortable.
I feel greed on one hand, i feel confused on the other.
I'm totally is in the dark right now on what to do!!!"
I got this message from Lowyat forum, someone is holding 150 lots Gpacket ABP RM0.68 with 50 lots Gpacket-WA RM0.25. The mother share and warrant price shot up to RM1.26 and RM0.945 respectively in the past two weeks. The profit would be RM87K from mother share and RM35K from warrants with total profit RM122K.
I can understand the feeling because I also having this share at ABP RM0.74 and I have sold off half of it so far. The feeling that I'm struggling with maybe in lower extent but it is still significant and affecting you to think properly to make a right decision.
For instance, I didn't subscribe the warrant offers and sold it at RM0.25 but now it has shot up to RM0.945. In this case, I didn't make any lost but profited RM0.25 per share for free. But mentally you somehow still feel disturbed because you thought that you have lost RM0.7 by not taking the warrant offers.
So now what would you do with the share that you still holding? For sure, you don't want to make a same mistake to sell it too early this time on the other hand you get a bit uncomfortable with the high speculation price. But it seems will continue to go up to higher price.
Follow up:
05 Nov - GPACKET RM1.49. I decided to hold till it drop again because at this point already 100% profit. I just want to be part of this roller coaster ride to understand more about investment physcology emotions. Now I'm feeling like flying to heaven and money keep coming in.
I feel greed on one hand, i feel confused on the other.
I'm totally is in the dark right now on what to do!!!"
I got this message from Lowyat forum, someone is holding 150 lots Gpacket ABP RM0.68 with 50 lots Gpacket-WA RM0.25. The mother share and warrant price shot up to RM1.26 and RM0.945 respectively in the past two weeks. The profit would be RM87K from mother share and RM35K from warrants with total profit RM122K.
I can understand the feeling because I also having this share at ABP RM0.74 and I have sold off half of it so far. The feeling that I'm struggling with maybe in lower extent but it is still significant and affecting you to think properly to make a right decision.
For instance, I didn't subscribe the warrant offers and sold it at RM0.25 but now it has shot up to RM0.945. In this case, I didn't make any lost but profited RM0.25 per share for free. But mentally you somehow still feel disturbed because you thought that you have lost RM0.7 by not taking the warrant offers.
So now what would you do with the share that you still holding? For sure, you don't want to make a same mistake to sell it too early this time on the other hand you get a bit uncomfortable with the high speculation price. But it seems will continue to go up to higher price.
Follow up:
05 Nov - GPACKET RM1.49. I decided to hold till it drop again because at this point already 100% profit. I just want to be part of this roller coaster ride to understand more about investment physcology emotions. Now I'm feeling like flying to heaven and money keep coming in.
Axiata RM2.93 - Neutral
CIMB Research has maintained its neutral call on Axiata Group Bhd but raised its target price for Axiata’s shares to RM3.57 from RM3.47 on the back of a strong third-quarter (3Q) performance of its 84%-owned Indonesian unit Excelcomindo (XL).
Meanwhile, HwangDBS Vickers Research agreed on the possible 5% upside to Axiata’s net profit from XL’s boosted performance. However, it maintained its fully valued call on the telco giant with a target price of RM2.70 as it expressed concern that its share prices had run ahead of fundamentals.
Overall, Axiata’s total equity is valued at RM30 billion, with a PE of 16.6 times based on FY09 and 14 times based on FY10. Axiata ended flat at RM2.93 yesterday.
Meanwhile, HwangDBS Vickers Research agreed on the possible 5% upside to Axiata’s net profit from XL’s boosted performance. However, it maintained its fully valued call on the telco giant with a target price of RM2.70 as it expressed concern that its share prices had run ahead of fundamentals.
Overall, Axiata’s total equity is valued at RM30 billion, with a PE of 16.6 times based on FY09 and 14 times based on FY10. Axiata ended flat at RM2.93 yesterday.
This article appeared in The Edge Financial Daily, November 3, 2009.
Sunday, November 1, 2009
PTPTN 1% Administrative Cost
The Star - 16 June 2009
PTPTN to charge 3% till syariah system is in place
The service charge reduction from 3% to 1% for those who borrowed from the National Higher Education Fund Corporation (PTPTN) will take effect simultaneously with the offering of the Ujrah (syariah-compliant financing product).
The offer to eligible borrowers would be done in phases after the process of data migration, which is currently being done from the existing system to the new integrated financing system, is completed, said National Higher Education Fund Corporation chief executive officer Noora Md Yusoff.
“The existing administrative cost of 3% will remain until the completion of the Ujrah financing agreement between the borrowers and PTPTN,” she said in a statement yesterday. Noora was replying to a comment made by “Regular Payor” via SMS which was published in The Star recently which alleged that the PTPTN failed to implement the reduction of the service charge from 3% to 1% that was supposed to begin from June last year. Any overpayment prior to the implementation would be adjusted accordingly, Noora said. source: The Star
COMMENTS:
Administrative cost reduction from 3% to 1% effective on June 2008 has been announced more than 1 year in many mainstream newspaper. Unfortunately, there is still no adjustment until today and PTPTN has poor follow up on updating the borrowers about this matter. A long silent from them has created a lot of unnecessary confusion, anger, disappointment, waiting, restless emotions among the borrowers.
I personally think PTPTN should update borrowers consistently on this matter in their own portal because some people don't read newspaper or every page of newspaper everyday. By having an update on website will solve most of the issues.
PTPTN online Statement - http://epay.ptptn.gov.my/loan/ptptnlogin.jsp
PTPTN Loan Calculator - http://www.ptptn.gov.my/web/guest/loan_calc
COMMENTS:
Administrative cost reduction from 3% to 1% effective on June 2008 has been announced more than 1 year in many mainstream newspaper. Unfortunately, there is still no adjustment until today and PTPTN has poor follow up on updating the borrowers about this matter. A long silent from them has created a lot of unnecessary confusion, anger, disappointment, waiting, restless emotions among the borrowers.
I personally think PTPTN should update borrowers consistently on this matter in their own portal because some people don't read newspaper or every page of newspaper everyday. By having an update on website will solve most of the issues.
PTPTN online Statement - http://epay.ptptn.gov.my/loan/ptptnlogin.jsp
PTPTN Loan Calculator - http://www.ptptn.gov.my/web/guest/loan_calc
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