I thought you don't fancy on audition?
I haven't read the paper yet actually. And I have not buying any IHH yet although feeling bullish on hospital business as a whole. Let me read read it first then, there are so many papers waiting to be read.

Ok! Took a little bit of reading....actually, can only say "browsing through", since I'm too lazy to read such big paper. It's REALLY THICK!!!

Regarding the Goodwill and the currency risk. For me, I will go straight to see what the experts have to say simply because I do not have the ability to deal with those numbers and what are the better way to solve them. From an article, it seems both CIMB and HLBank researchers have not much concern on this issue. We also saw IOICorp reported huge loss on currency risk for the past few quarters, and so did some large international corporations. I don't think that would hurt too deep on them since their scale are much larger than that. Besides, IHH's net gearing is quite low actually, just 5%(FY12) and 2%(FY13). I don't see much problem to just do a re-finance to cut down the loss.

Reputation(or branding) is one very important key point in my mind regarding the "consistency" of ability in its management team. If the performance is not consistent, be it profit up 1000% (PE 0.1x) also can become meaningless if the next day they report a net loss out of nowhere. Good brand deserve much higher valuation because of this. Take a look at Nestle. 20x that time people said expensive, now 30x, still got people buying. CAGR only 8%, not 100%. People has confidence on their management, that's why they willing to pay on higher valuation. Now IHH is a great brand with good track record, and it is a large scale company. Big means something. Big means more powerful on negotiations etc. And if the management was not great, it's very hard to become this big. There must be a reason for a company to be able to grow this big.

However, I am still concern on its very rich valuation. At 17x EV/EBITDA (vs peers 13x) which projected a 3-yr earnings CAGR of 62%, that's very optimistic as world economy uncertainty still remains. Besides that I agree on most of the bright side in the paper regarding hospital business future(ie. aging population, raising medical demands in emerging markets etc.), I will not buy unless it falls to a more comfortable price for me. And, there is no dividend plans yet, although the management did mention they are not ruling out to pay certain dividend. Holding a stock long term without any dividend is kind of painful for me.

Moody's effect today?

This has come in. Ingens's substantial shareholder Chin Boon Long is not selling his stake in the company to Ninetology. (Why am I not surprised?) He said at a press conference on Wednesday that he was not accepting the offer. "Thanks, but no thanks," he said, in reference to Ninetology's offer. (Aha, a man of principle!) It will be very interesting to hear what he had to say. After all, his exact words before today's press conference were:
"Definitely I have something to reveal. Whether I want to sell my shares or not, I will explain. I will give the rationale on that day. There are too many questions being raised (about the proposed acquisition) in the newspapers which I don't want to prolong".
Whatever it is, it better be convincing because he just dashed the hope of thousand of investors & punters who rightly or wrongly thought that they can sell their shares at RM0.55 apiece. If Ingens share price were to drop back to RM0.10 or if the company's financial performance were to revert to the bad old days of loss-making, Chin would have quite a bit of explaining to do. He can't just say, I'm a man of principles. Those are my principles. If you don't like them, I have others.

http://nexttrade.blogspot.com/2012/09/inge...d-happened.html

Euro opens green....

Moody said Euro not stable woh....may downgrade if no immediate actions to solve debt woh....
And China slowdown woh....
And food price up woh....

market breath 111(up) vs 703(down)
hand itchy, added a few Reits.
cutting away some other stocks also.

This post has been edited by yok70: Sep 5 2012, 04:01 PM

my portfolio down 1.5% today. maybe because reits all red red.

CI near to 1640 already, down 13 pts. Guess next support 1630. If fail to hold, may expect back to 1600?

HDD for server side of business? That revenue will be very little as compare to broad consumers demand. IBM sells servers, but their main income is services aka solutions provider. HDD has no such opportunity, it's just one of the component.

This post has been edited by yok70: Sep 5 2012, 05:24 PM

This is actually just giving a new name to an old concept. Cloud HDD is just a "cool new name" for a network HDD.

Take a look at Retina macbook pro, there is no more HDD inside, just SSD, storage space up to 768GB.
SSD is much more expensive? Yes, for now. But in fact, its price drops few folds if compare to years ago when it first getting popular to use on cameras.
I'm seeing another 3 years time, SSD price may drop at least another 50%. The price gap between SSD and HDD will be closer and closer, until profit margin on HDD gets really tough.
Just my view.

Far from that I guess. See how tough VCD survives while DVD came out? Very tough. Not to mention the diskette on PC, and the audio tape vs CDs. They just won't go away easily.
I guess HDD could exists for another 50 years. But it will be moving away from consumers into back office or server room. Even on consumer end, I don't think it will disappear in 10 years time.

This post has been edited by yok70: Sep 5 2012, 05:58 PM

I read that yesterday's selling down was done by local institutions, foreign funds were still the net buyer.
What about today? Who's selling? I still remember the recent sell down was also done by local institutions.
Today's world markets so far is mild green, we are the only one deep red. GE effect has started?

Thanks for sharing.

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Added on September 6, 2012, 10:58 amYa loh. Where is the link of that statistic eh? I tried to find it last night but couldn't find.

This post has been edited by yok70: Sep 6 2012, 10:58 AM

1600 coming.

PPB 10 coming.

Yeah!

You didn't receive the email notification?
Anyway, I checked the bank account and found two dividend transferred. But don't know which one is Panamy and don't know the other one is what stock. Exciting, money!

Already started yesterday, some boring reits only.