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Friday, 27 February 2009

Selling of Maybulk on 27-Feb-2008

The trend of the BDI which started the year at 8,891, and peaked to a high of 11,793 during the second quarter. It started drop in 4Q down to 800, and now 1Q2009 has back to about 2,000 level.

2nd & 3rd quater results are supported by selling of tanker and dry bulk vessals which unlikely to happen in 4Q2008 or 1Q2009. And hence the profit will be dropped significantly. might be more than 90%. Since the last 2 quarters profit are mainly coming from selling of vessals.

Maybulk still cash rich. Can still buy when the market price lower than the book value of RM1.84. Maybulk has 1.4bil of cash out of total 2.4bil of asset. Total share issue are 1,000,000 (par val 0.25). Each share worth RM1.40.

I will buy again when the BDI drop below 1000 or share price between RM1.4 - RM1.60.

Tuesday, 22 July 2008

Review Zhulian

ROE up to 2nd qtr about 12. Which is quite good. Dividend also given 3sen per ordinary share of RM0.50.
Prospect, new factory still under construction. Targeted to be completed very soon.
JV in Indonesia market. Currently Msia market about 60%, Thailand 30%, Singapore 1%.
Main business still multi-level marketing. Secondary business is investment.

The investment group doesn't done a good job in 2008.
Lost about RM26 millions since early of the year.
26,000,000 consist about 5% out of the capital of RM500,000,000.

Because of this, let's review again for next qtr report.

Friday, 18 July 2008

Buying Batu Kawan (Bkawan)

Buying Bkawan on 18 Jul 2008

Market Brief: Plantation stocks price has gone down because of paying windfall profit levy to the government yesterday.
Crude Palm Oil (CPO) price is still at the high side around RM3500 per tone.

Buying price: 9.45 (all matches)
PE:
  • share buy back from shareholder and families.
  • KLK price at around RM15
  • Dividend so far 15sen
Future COP:

by July 2010, the price still very high at RM3400 per tone.

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