Maybe Tabung Haji also kena conned.

Seems like more investors want to get out of the market, then to get into the market.

The problem is when you expand a hospital, the CAPEX AND MANPOWER COSTS GO UP FIRST.

So Future PE is very subjective.

Not the same as setting a 4 ekor branch.

This post has been edited by SKY 1809: Feb 10 2010, 04:40 PM

Thanks.

Look good on the surface.

I let my broker to come out with analysis.

Too lazy to look into details.

Rotten eggs or shoes are still acceptable practices , but plse do not go beyond that.

Frankly, Fajar 's contracts are of a better profit margin so far, and also the co places the important of cost controls, though Fajar is a small co as compared to Gamuda or WCT. Being small, the fixed overheads could be low.

Its cash position is still very healthy, with improved dividend payment.

The danger is they could be " out of favour" with some powerful people.

Other big contractors could win the contracts with slim profit margin. Only book orders look good. Gamuda has cost overrun problem for the train project.

Fajar is more careful on that part. They also have the expertise in certain areas.

This post has been edited by SKY 1809: Feb 10 2010, 08:36 PM

I think East Malaysia is still behind West M by 10-15 years, perhaps.

Probably is quite close to our Dr M 's Era.

Still in the comfort zone perhaps.

Sorry , I refer to Political Era, not the economic Era.

East M still have vast resources on their lands. Resources Rich.

Let set politics aside.

But I believe future developments in Sarawak could have China as partnership ( through their fundings )

In the long run, basing on connections alone without the so called expertise might not work to a desired level.

Just my personal opinion only.

Correct me if I am wrong.

This post has been edited by SKY 1809: Feb 10 2010, 09:44 PM

To RCE Cap Investors :-

RCE Capital – 9MFY10 results on-track (Results Note)


Target Price: RM0.90

Recommendation: BUY



· RCE’s 9MFY10 net profit of RM58.3m was within expectations, at 75% of our FY10 net profit forecast of RM78.1m and 76% of street estimate of RM77.2m. 9MFY10 loans growth of 27% was supported by seasonally stronger demand during Hari Raya and year-end festive period.

· 27% increase in net loan receivables in 9MFY10 to RM1.1b (from RM871.8m in 9MFY09) drove revenue up by 21% YoY, as public employee demand for financing continued to remain robust particularly for RCE’s 15-year loan and Islamic products. 9MFY10 pretax profit margin remained stable at 42% resulting in pretax profit increasing by 18% YoY. Provision for doubtful debt was stable at RM19.9m (compared to RM19.8m in 9MFY09) and NPL ratio remained below 3%.

· Added demand during Hari Raya and year-end school holidays caused loan book to swell by 5% QoQ, resulting in 3QFY10 revenue rising by 6% QoQ. EBIT margin improved by 6% QoQ mainly due to lower operating expenses (sales and marketing) from dearth of product launches during the quarter. Core net profit rose by 10% QoQ in line with higher sales and lower marketing costs.

· FY10 and FY11 forecast net profit maintained. RCE looks set to meet, if not outperform our loans growth assumption of 15% in FY10.

· Reiterate BUY recommendation with target price of RM0.90, based on 8x PER applied to rolled-over FY11 EPS of 11.5 sen. Our target PER is at a 1x premium to regional industry average given RCE’s unique low-risk model of direct salary deduction. We expect the firm to maintain its DPS of 1 sen as per FY09 moving forward, resulting in a FY10 dividend yield of 1.5%. Give its curent undemanding 6x FY11 PER valuation, we believe that there is still significant upside to RCE’s share price.

This post has been edited by SKY 1809: Feb 11 2010, 10:26 AM

RECap is more or less belonged to AMMB boss.

It was converted from "Cempaka Finance" after the Asia Financial Crisis.

AMMB took over MBF Fin and Cempaka as a result.

Correct me if I am wrong.

PS : If you solely looking for dividends, then not your cup of tea.

This post has been edited by SKY 1809: Feb 11 2010, 10:38 AM

I do not know about Genting.

Generally , I think sharks are supporting the market now to create a post CNY goreng.

There is no reason for them to dump and destroy the market sentiment now.

Just my personal opinion.

There are always some local and foreign funds invested in Genting.

The dumpings could come from them .

Sharks - I refer to those intend to goreng the stock or Market Makers.

Maybe we are on diff wave bands.

I guess only.

This post has been edited by SKY 1809: Feb 11 2010, 11:17 AM

I still prefer this way of trading. I did it with RCE Cap for 2 times.

Sell when there is arally, and buy back when it drops to some support line.

Making a bit as compared to many of you.

I guess markets are very volatile this year.

No one could give you a guarantee to make money when comes to buying shares.

What is your time horizon and risk profile ?

No one can decide how much risk you should take.

When you always blame people for your investment decisions , then you can never learn.

If you want to learn , then identify some stocks on your own, and say / state why you are buying these stocks.

Then, Let forumers share back their opinions with you.

This post has been edited by SKY 1809: Feb 11 2010, 11:45 AM

I guess you could make some money if you could identify these " buy low and sell high" points.

But do not position too low until you cannot catch the bull, that does not come too often.

Quite many sell calls after their report.

The profit came from one off sell off of a business.

Operating profit is below expectation.

Year 2010 maybe not as strong as Year 2009.

Judge your own.

Teach us how to contra in Aust market, just joking.

Best of luck to you.

I think Sarawak has better prospects in view of the unlimited resources.

And the monopoly position they enjoy.