....i think it is trying to emulate big bro Mah Sing...

LOL!

You cannot see the similarities meh?

Both from the plastic industry....
Both making more money from properties.....

My opinion?
Said before last time jor.....

LOL!!!

Ada meh? what?
LOL!

Aiyaaa... you should know what...
few years back...
companies like Scientex la... I Bhs la.... fitters la.... all also jumped into property sector what....

yeah... and some of them did good....
like Scientex....

but here lies the problem....
as a stock...
how exactly does investors see the company?
I remember the rocket company RHB listed them as a jewel under the consumer sector not too long ago....

LOL!

That's the problem right?
It's known to be a top player in the plastic and packaging sector...
but then....
the bulk of the profits now comes from the property....

one of the comments made .... by me.... last Sep...





so my feelings still the same...
it's rojak....

now.... whatever and however good.... the plastic industry do ......
the impact is not there......... err.... like mosquito bite.... (small one la... lol) .....

and the risk?
if property earnings slide......
it will really show.....

so if you ask me.....
i don't quite see the point....

no matter how good it does....
it probably will not get its due recognition....
yeah.... I doubt it will even trade at 16x pe.....

and where does it leave me?

errrr.........

this is screen shot from Scientex's latest profits....

It's plastics .... actually did worst when compared to 2014....

some few extra comments....

This is Scientex chart..... LOL!



If you ask me to describe the chart...

this looks to me....

a stock which is consolidating in a range after hitting its highs in Sept/Oct....
(some might point out the double top in Sept and Oct)

as it is.... it's merely trading in the range of around 6.60 and 7.00.....

for some....
this looks understandable....
as it lacks the NEW catalyst to drive the stock forward......
with property sector being the elephant in the profit room....

* the doubling of the eps.... hehe.... rather 'engineered' ... as the company went into the property sector and also purchased another plastic company (ie Great Wall) ....*

so what is good about this stock?

hehe.... no problem about being wrong ma....

for me... I know I always could be wrong in the market...
the market simply has too many cliches...
and it's rather impossible to be smarter than the market....
and I will be an ignorant fool to think so....

anyway here's the chart I am looking at...



like to hear some of YOUR COMMENTS too.... if you do not mind...

anyway... for me...
this is a stock that performed remarkably well the past couple of months...
from the lows of 1.20s ...
the stock is now trading around 1.80s/1.90s....

and more remarkably...
the profits announced....
which was rather poor (in my opinion - 3 consecutive quarters of declining profits) ....
doesn't seem to justify such a run up... (but hell yea... this is stock market... sometimes... anything also can 1 )

anyway... it appears to me...
it's consolidating around 180/190....

but what I am concerned is the heavy volume end Feb/Mar ....
for it represents a possibility that the game could be over....

my 3 sen....

and yeah.... my 3 sen could be wrong....

hehe.... no problems ...just talking ma...
not an issue who is right or wrong....

anyway....
if....
the company is winding down in its property launches.... and boosting its plastics ....

and .... using latest Q numbers as a guide...



where profits from plastics is 32 million and profits from properties is 72 million...

this means....
the company is downsizing....
its money source....

and if that's the case....

can the plastics cover the 72 million profit from its properties section?

if the answer is no....

don't you think there's a chance that future earnings might even be lower?

I did see the q2 improvement from q1....

But you know me...
I compare the numbers with the previous year...

Anyway..the main issue for me is the company is rojak.

As such...
Hard to see it trade at a higher pe valuation...

Unless of course....
You find the wok man.

lol

Well, yes, warrants and the mother share 'should' move in tandem..
and it's a 'cheaper' bet....
but to make money (once the structured warrant expires) in a structured warrant...
the warrant needs to be in a price zone...
where the warrant price + conversion price (must read the rules set by the investment bank) must be more than the mother price and once it is more, it means you have a profit...
but once it is less..... you have ZERO..... ie you get NO MONEY back....
ie you lose everything..... including the expiry price of the structured warrant....

in essence...
you are the player...
the BANK is the investment bank....
you are betting that the structured warrant can beat the terms and condition set by the bank....

Does this sound like a bet or an investment?


but then of course....
in our market...
got many wizards.....

these wizards focus on the theory that mothers and warrant shares move in tandem....
so they bet on these warrants BASED solely on this theory...
they do not care one bit about the risks in the structured warrants....
all they know ....
the warrants it's cheaper...
and they do stand to win a lot if the warrants move up a few sens...

LOL!

Dude, me not an investment adviser laaaaa......



could you understand what the summarized term sheet is saying?

then.... don't you think it's dangerous to consider this as an investment?

anyway...



Firstly, note what kind of structured warrant this is...

it's a non-collateralised european style CASH SETTLED warrant...

expiry date: MAR 2016. (life a bit long )

structured warrant price is offered at 15 sen.

conversion price is 1.80.

BUT note.... this is a 2 for 1 conversion ratio.

THIS one very snakey.

why kind these bloody bank put a 1:1 deals?
by putting a 2:1 or 5:1 ....
it's snakey ...
cos sometimes many times...
people do not read the fine print...

so all things equal....

if you get at 15 sen...
you need two to convert...
ie... 30 sen.

conversion price is 1.80.

total = 1.80 + 0.30 = 2.10.

Jaya tiasa trades at 1.64.
you are losing the bet already.....

if you bet based on conversion, you need Jaya Tiasa to trade past 2.10 by Mar 2016 to make money.

BUT....

if you bet based on mother share move, warrant move...
hell yes....
if warrant moves to 0.17 ....
your profit is already damn bloody good.

wait...
let me find Uncle Chow's hand phone first.....

I have no idea how to play Scholes hitam.....

LOL!!!!

If you insist...
You can always pay me..........

I give special discount just for you.....


Less 6%.....

Your forehead got pimples is it?

FYI, if like this, I am also a noob cause I also do not play structured warrants.

Try this one: Reminiscences of a stock operator

I also want...

try put 3 into 2 ...... can fit?

You need to give better riddles next time.......


mother market cap ~ 655 million
susi market cap? 2.49 billion....

what mystery?

LOL!




I don't like to play with mothers..... ( ..... doesn't sound right somewhere ...... )

Don't waste time trying to figure out such nonsense...

Many houses allow multiple trades to be grouped together at end of trading day.
This means any 1 trade can make multiple 1 share trades of a same stock all day long.
End of business day, the system just tallies up all these multiple trades of that particular stock into one trade.

Hidden message?
LOL!