Provided you can trust Tan teng BOO! 's judgement!

Trust him to say : " ......Our NAV has gained 189% since listing or 18% per annum. At such a rate, in seven years time, it would be RM8.78. We give consistent long-term returns,”

Its no longer 18% pa...............its 25%!

i think i agree with bryan, icap doesn't give dividends, its volume is low, low liquidity will certainly affects its stock price. Everyone knows its NAV is higher than its stock price, but who wants to push the stock price to match its NAV??

That does not matter, ICAP share price is not important to me .

Ask Mr Tan to buyback share to push the price up..........

Afterall Icap has ltsa cash........

Too bad, most of the shareholders won't allow Tan to do share buyback .

ICAP Rm2.38.......... HOW?

iCapital.biz earnings jumps to RM47mil

iCapital.biz Bhd’s net profit for its fourth quarter jumped to RM47.12mil from RM1.7mil a year ago due to profit on disposal of securities and higher revenue.

Its revenue increased to RM49mil from RM4.5mil a year ago. Earnings per share were 33.66 sen compared to 1.22 sen a year ago.

For its full year, the group posted a net profit of RM56.8mil from RM15.7mil a year ago. Its full year’s revenue stood at RM65.9mil compared to RM24.8mil a year ago.

“As the company is a closed-end fund, a better indication of its performance would be the movement of its Net Assets Value (NAV). The NAV per share as at May 31, 2013 was RM2.99, compared with NAV per share of RM2.86 as at May 31, 2012,” it said.

2.99 vs 2.86 = 4.54% upside for 1 year. This is rather bad performance for the year, I bet many forumers outperformed it largely.
However, icap is holding almost 50% cash now, which make it quite defensive in a way heading towards uncertainties of QE exit risk.

On behalf of the Board of icapital.biz Berhad, we wish to announce that the Net Asset Value per share of icapital.biz Berhad as at 31 July 2013 was RM2.96.

POP* the Champagne!

Haha. I had sold off 80% of my iCap shares after holding for 5 years. I have to say I only manage to gain a little after holding for so long.

Reason Of selling is because ttb doesn't seem to be interested to invest in klse. Therefore I will only wait until he starts buying only I will act.

If you read his weekly Msian stock analysis. I can safely said 70% of them is buy at a price below the market price and the remaining 30% is hold. Haha. So there is nothing to buy. Eh sorry. There is one stock he recommends to buy, icapital. Haha

icap only discount 19%, holding mostly midcap, so not consider cheap loh for midcap valuation. Now there are lots of midcaps trading at above 30% discount to FV.
ttb is just too conservative and too lazy to deal with icap malaysia. His holding has been minimum movement for more than 3 years now, still wait for another 5 years until world economy stabilize only want to make big move?
the cash holding is now above 50% is it?
however, for those who "do not like to loss money", icap seems like a good choice. it's quite hard to loss money i think after monitoring its NAV movement vs market up/down.


This post has been edited by yok70: Aug 2 2013, 01:21 AM

In the meantime, TTB thanks all the suiyees for the management fees and funding his lifestyle

Icaps discount is based on the market price of the security. It's true that a lot of midcaps are trading at a discount towards their book value, but ICAP's discount is not based on book value, but on market share.

Correct me if im wrong

It even underperformed fund managers' 5-year average return

NAV is marked to market value
Yesterday NAV 2.99 -v- closing price 2.38

yes yes, that is what I meant.

The securities are being marked to market. Not to book value.

I was responding to another posters post.

They announce NAV on daily basis to Bursa. No one will adjust their book value on daily basis. After all, co close a/c on monthly basis

Actually I was responding to the quote below.

The stocks that icap currently holding are not trading at low PE.
I'd 11 stocks that icap holding on my list, the PE are 33, 24, 19, 15, 14, 13, 12, 11, 10, 9 and net loss (MSC).
none of them are close to average small-mid cap stocks at 6-8x.