macha!

Errr... already gave my 3 sen on HDBS la... scroll back few pages.

not yet sau kong ah?

all ready for CNY pok sat?

689/690 looks like a not bad price...
ONLY if you want to pok sat wif Ajib's bro horse.

Cannot find meh?


anyway... are you sure you want this TYPE of stock meh?

this kind of play, needs lots of time one wor....

must wait many, many moons....

you sure you can wait one meh?

I am not buying anything yet hor......

you miss Ah Lian.

She now 341.

See, this is why I try not to bottom fish.

This is Kenanga's report which I copy and paste...

Actual vs.Expectations
Pantech Group Holdings Bhd (PANTECH)’s 3Q14 net profit of RM12.1m brought 9M14 net profit to RM41.1m which is below expectations, at 62.2% of our (RM66.1m) and 62.8% of the consensus (RM65.4m) full-year estimates, respectively.

The variance to our expectations is due to the lower-than-expected margins from the trading division on slower project execution, which affected the trading division’s revenue and less optimal product mix.

Dividends

A NDPS of 1.0 sen was declared, bringing the 9M14 NDPS to 3.4 sen. This only accounted for 64.2% of our full-year NDPS expectation of 5.3 sen.

Key Results Highlights
QoQ, 3Q14 net profit was lower by 21.2%, at RM12.1m, compared to RM15.3m in 2Q14, mainly due to a drop in the revenue in the manufacturing divisions which suffered from lower exports. Having said that, the division turned in better margins as the stainless steel division was not suffering from losses anymore.

YoY, net profit declined 22.6% from RM15.6m in 3Q13 as trading revenue contracted significantly by 23.6% on the back of weaker demand from oil and gas sector with slower project execution (fabrication and downstream contracts seem to be delayed thus far).

Outlook

Management guides that the next two quarters could be quiet for the trading division given that the fabrication and downstream oil and gas projects in Malaysia are still sluggish. PANTECH envisages better fortune from 2Q15 onwards, which would coincide with our view that fabrication contracts will likely only materialize from 2QCY14 onwards.


Management guides that it is still contesting the US anti-dumping suit in its stainless steel division. A resolution is expected by July-14. As mentioned previously, PANTECH’s alternative strategy is to shift production to higher-end stainless steel fittings production (which is not subject to such anti-dumping laws and have higher margins than stainless steel pipes); and is actively exploring other potential export markets such as South America and Europe.

Management does not rule out any further M&As as growth catalysts.

Change to Forecasts
Given the upcoming weakness, we are cutting the trading division’s FY14 revenue growth to 2% (from 15% previously) and 10% in FY15 (from 15% previously). The better growth in FY15 is based on expectations that activities will pick up by 2HCY14.


The cuts resulted in overall Group net profit being reduced by 12.8% and 17.4% for FY14 and FY15 to RM57.7m and RM61.9m, respectively (from RM66.1m and RM75.0m).

Some of my comments:

You can see a lot of negative issues.
Profits way below expectation.
Dividends also looking sluggish.
Management had declared next 2 quarters could be quiet... (and if that happens, that's the end of the growth story for Pantech)

1023 leh...



( You better check on valuations with Ah Gark. hehe.. )

I always see see one ma...

Ok...

Think...

1. How many points have CI drop lately?

ok... it went up without much reason in Dec, so correction much expected...
but then... now we have the other same old same old issue...

the nuisance taper nonsense...
which has caused the USD much stronger than it fundamentally should...
and made our ringgit much less value...

then you have the usual annual pre CNY sluggish market..

thus... the sort of perfect setting for this current weakness..

2. But nothing drop forever, right?

In that sense, sooner rather later, the market will bounce back up.
If it does, which stock could ENGINEER the fight back?

3. The usual same old same old theory...

Ah Jib's tee tee wo...
How can let the tee tee's kuda to die?


Reasonable?
Or silly thinking?

What you think?

ps:

You are VERY CORRECT that the chart is so scary.

Kuaci time.

Belum sau kung meh?

Hmmm...

Net profit for FY14 Q1 5.792 million
Net profit for Fy13 Q1 2.872 million

I think net profit more than doubled.

Yeah, results not bad.

Especially Q1 has always been a seasonally weak quarter.



Trailing EPS = 9 sen

Cash increased by 7 mil to 42 mil. Not bad.

So is this your CNY tipsy?

Can I buy?

Nope.

Done and dusted. Not going in again.

Brokerage fee is not my main criteria.
Service is much more important.

Getting the lowest brokerage but a buggy system/setup/service is not my cup of kopi-o.

having said that, I have never traded with HLB before.
So cannot comment more.

This a pretty normal market phenomena.

Whenever a glorious 'investment' stock tanks, everyone thinks they are a pro...
and not only that.....

they start thinking of bottom fishing....

Many a fortune are usually lost in their bid to fish for their golden fish.....

I know....
everything of yours is A1 good service.




So where is my new year ang pow tipsy?

What is important for you in a broker?

I think you have answered most of your own questions.

Whichever broker you sign with, ask them FIRST if they can provide you with what you want and of course, the desired brokerage fees.

For foreign trading, well you better ask around. There's no one size fits all broker.

Happy CNY to all my trading kakis.

Wishing you all a prosperous and healthy New Year.

May the horse be with you this year.

Gong hei.. gong hei..

Tipsy come already....
Gong hei gong hei....