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Thursday, March 31, 2016

WCT bags RM133.9m job to redevelop Gombak police quarters

WCT bags RM133.9m job to redevelop Gombak police quarters
By Gho Chee Yuan / theedgemarkets.com | March 31, 2016 : 7:49 PM MYT

KUALA LUMPUR (March 31): WCT Holdings Bhd has bagged a RM133.93 million contract to undertake the redevelopment of an existing police quarters (Block 10&11) at Bandar Ulu Kelang in Gombak, Selangor.

In a filing with Bursa Malaysia today, WCT said its wholly-owned subsidiary WCT Bhd has accepted an appointment by executing the letter of acceptance from Mass Rapid Transit Corp Sdn Bhd to build a 20-storey police quarters housing 300 units, with facilities and a five-storey podium car park.

"The works under the contract are expected to be completed in 28 months," said WCT.

WCT shares closed unchanged at RM1.69 today, for a market capitalisation of RM2.1 billion.

[转贴] 你以为的节俭,其实是最大的浪费 - 由牧

[转贴] 你以为的节俭,其实是最大的浪费 - 由牧
Author: Tan KW | Publish date: Thu, 31 Mar 2016, 05:38 PM

你以为的节俭,其实是最大的浪费
作者:由牧(文艺女青年)

王尔德说过:一个愤世嫉俗的人知道所有东西的价格,却不知道任何东西的价值。

每次买东西时,这句话都会浮现在脑海里:不过不外乎是这个东西好贵,或者这个价格好划算此类。

但浪费的钱多了,慢慢悟出些不同的道理来:一件物品,价格的生命力是短暂的,价值的生命力却可以很长。

对价格的感受,在挑选和买单的时候达到顶峰。然后我们开始真正拥有它,剩下的时间里与之相处,便大都是价值在物品身上的延续了。

1、买自己能力范围之内的

当然,我指的是在个人能力范围之内的消费。超出能力范围的消费,经常会无意中让价格的生命力延续的更长。

剁手买回来可能会让你在很长的一段时间里处于或兴奋或紧张或虚荣的情绪里。但这情绪大多是因为价格造成的,反而容易让人忽略掉事物的真正价值。

我见过不只一个花大价钱买了包包舍不得背,或者套上帆布包背出去挤公交的姑娘,简直成了昂贵包包的奴隶。
与之相反,简·铂金将她价值几十万的铂金包随意顶在头上挡雨,让孩子在上边贴贴画,而不是放在水晶柜子里展示起来。

这样洒脱的人与物的关系是我特别欣赏的。物品确实值得被珍爱,但比这更重要的是——作为主人要充分发挥它的价值。

2、买自己真正喜欢的

我们父母那一辈,勤俭持家习惯了,对价格异常敏感。尤其是我妈妈,即使我们再喜欢,也从来不会给我们买她觉得贵的东西。

以至于小时候,我爸常跟我们戏言:东西越贵越省钱。东西贵了,你妈不会买就省钱了;一旦便宜,买一堆回来,反而花钱多。

这样的消费观也影响了我。很长一段时间里,我喜欢买便宜东西,并因此沾沾自喜:瞧,我多会省钱;看,我多会过日子。

可是一到搬家的时候,我就开始犯愁:那些买燕麦买饼干赠送的水杯饭盒质量不佳;那些打折的衣服,也许质量还不错,但是真正特别喜欢的没几件,很多只是觉得特别划算才买下的……

而那些因为非常喜欢,所以觉得略贵也咬牙买下的反而利用率最高,再费劲我也愿意把它们都带走。

我沮丧地发现:在决定买下一件东西的时候,我更关注的是它的价格而不是价值。

后来,每当一件东西让人产生“哇,好划算啊”这样的念头的时候,我就开始警惕并问自己:你是不是真的需要它,是不是真的喜欢它?

当我开始看重一件物品的价值甚于它的价格的时候,身边令我喜悦,用着顺手的东西变得越来越多。

也许当时是觉得贵了些,本该有更便宜的选择,但是就像文章开头所说的,价值的生命力更长,是能够长久陪伴我们的。所以,通常买回来没几天价格的印象就慢慢淡去了,剩下的就是这件物品对于我的价值。

现在买东西尤其喜欢先看好东西再看价格,若是便宜那自然是意外之喜;超出自己承受范围的,那便列入愿望清单,继续努力便是;感觉有点贵的,实在喜欢,也有预算,那就闭上眼拿下。

虽然总体花的钱跟以前差不多,但一件因喜欢而付款的物品,胜于十件因便宜而入手的。

3、热爱的,更值得买贵的

有句玩笑话叫“摄影穷三代,单反毁一生”。做一个对器材要求高的摄影发烧友对非富非贵的普罗大众确实是件比较烧钱的事儿。

很久之前在一个摄影师微博评论里看到她回答粉丝问题,那句话到现在还总是不经意间想起来。

有粉丝问:我该买什么配置的单反?

摄影师回:你买得起的最贵的配置。

我想这个回答适用于一切热爱。没有必要所有东西都买最贵的,但是你热爱的值得你花费。

大约两年前决定为了看书入手一台kindle的时候,刚纠结完用不用买机器的我又开始纠结皮套:900块的机器,皮套的价格将近300块,总觉得不值。

还是先生帮我下定了决心。虽然贵的感觉伴随了我一小段时间,但是后来看到别人买的便宜保护套质感不佳,唤醒不灵敏费电,还是很庆幸自己没有贪一时的小便宜。

这两年时间,我带着它走南闯北,地铁里,公交上,餐厅等人,看了不知道多少本书。

很多人都不解,觉得用手机看看不就行了。但是正因为热爱读书,机器利用率很高,体验好,皮套质感好也皮实,用到今天仍然非常爱惜。1000多块的价格已经完全不算什么,一直陪伴在我身边的是它对于我独特的价值。

更早的时候买画材就没这么好运了。

贪便宜买的颜料特别容易干,每次用之前都要用软化一下,甚至影响到了画画的心情,最后干脆就扔在画室,都没有拿走。而先生送我的那时对我们还嫌贵的毛笔,一直被我带在身边。

4、说点看似无关的,时间成本算了没?

可人是多么贪心,总想着花最少的钱买到最好的东西。所以商家才总打着物美价廉的宣传语招徕生意,才会不断打折送赠品诱惑你。

物美价廉的东西不是没有,只是需要费尽心思去找去鉴别,而在这过程中花费的时间和精力,已经让你的成本大大上去了。

朋友大学时候有个舍友,一直很极端地发挥着“货比三家“的精神,买完发现别处更便宜简直会令他崩溃。

所以,即使只是买一箱牛奶,他也会花一下午时间去学校附近的三家大型超市比价。七八块钱的大宝,刚买完就特价便宜了一块钱,足以让他持续念叨半个月。

最后,当同宿舍的人都穿上学士服拍毕业照的时候,他却因频繁挂科被降级了。面对他的是,多花一年的时间;当然,对他而言更残酷的是:一年的学费。

他从来没有计算过:那省下来的几块钱,与他花费掉的时间和精力完全无法平衡。

http://mother-lov.blogspot.my/2016/03/blog-post_451.html

[转贴] 曾渊沧:富足自由人的6个投资心法 - 杨佳文

[转贴] 曾渊沧:富足自由人的6个投资心法 - 杨佳文
Author: Tan KW | Publish date: Thu, 31 Mar 2016, 05:42 PM
杨佳文
2016年 03月 01日

长期为本站供稿的专栏作家曾渊沧博士在去年初出版了《富足自由人1—买股收息10S大计》,这本书在2015年商务十大畅销书榜中排名第三,可见曾渊沧博士确实是一名备受散户推崇的名师。

笔者因为工作关系,过去一年来也把这本书读了好几遍。个人觉得,这本书的主要优点在于教导大家如何对人生、财务做全盘的规划,还有要以正确的态度看待“投资”这件事。

以下是笔者认为每个投资者都应该铭记在心的6个“富足自由人投资心法”:

一、人生目标——富足自由(第26和27页)


什么是“富足自由”?用坊间的说法,就是“上岸了!”,不用做工也够钱生活了。

富足,就是靠投资取得的收入足以应付生活所需。自由,就是能自由安排时间,做自己想做的事。人生能够达到这样的境界,自然快活自在。但这一切都必须靠计划和实践才能达成。

曾渊沧博士在书中引用了《少林足球》中的一句对白:“如果人生无梦想,同条咸鱼有咩分别?”

有了达到“富足自由”的梦想,做人就有魄力,同时也会了解掌控财务的重要性。



人生不能没有梦想

二、要区分消费和投资(第39和49页)

曾渊沧博士反对女人买太多手提袋。

他说:“无论是鞋、手袋等等,我奉劝这些女士需要问问自己,买这些东西有什么用?是否认为可以吸引到男性?我认为男性通常不会留意你用什么类型、又或用多少个手袋……买这个袋或这双鞋子,对于你日后可以富足自由有没有帮助?”



你真的需要这个手提袋吗?

钱应该要花在刀口上。必须品,省不得;增进知识,增加技能,省不得;满足虚荣心、一时之快的东西,能省则省,也不可能不能省。

三、投资的资金=闲钱(第47页)

曾渊沧博士强调,用来投资的钱,必须是“闲钱”,就是丢到海中也不影响你生活的钱,本来可以花掉,但储蓄起来的钱。

唯有如此,才能确保自己的生活不会因为投资失利而受到影响,而且能够东山再起。



投资的钱,必须是丢到海中也不影响你生活的钱

四、投资不是为了多吃两餐(第68页)

要达到“富足自由”,就需要长期的规划,买卖股票不能当赌博。

有个投资名词叫“值博率”,就是以现价买入股票获利的机会高不高。

曾渊沧博士指出,投资不能靠“博”。“博”赢了,赚到点小钱,最多能多吃两餐,或吃一顿好的,但这并不能令我们富足自由。



投资不是赌博

五、细价股——用来观察市况(第80页)

曾渊沧博士说,其选股主力,基本上只有两种,就是蓝筹股,以及有潜质成为蓝筹股的股票。

但他手头上也有不少细价股(penny stock)。曾渊沧博士指出,他买入这些股票,纯粹是用来观察市况。如果这类股票突然狂升,可能就是股市见顶的讯号。

当然,要买细价股来观察市况,前提是资金要充裕。一般散户大可不必效仿。



曾渊沧博士买细价股是为了观察市况

六、股价上涨4倍就拿回成本(第88和89页)

曾渊沧博士的其中一个减持策略,是在股价上涨了4倍后,卖出25%的股票,从而拿回成本。

比方说,买入价是1元,股价上涨至4元,就卖出25%的股票取回成本。

他指出,这么做的好处在于,拿回成本之后,基本上所持有的股票就是“零成本”了,日后无论股价升跌,投资者都可安心持有。

http://cj.sharesinv.com/20160301/17212

想看就看吧

想看就看吧
Author: Rolling Coast | Publish date: Wed, 30 Mar 2016, 11:39 PM

再次声明:本文章纯属各人意见,如有不悦,大可不阅

好久没发文章了,上来看看。

看到网络的发达,Fb的功力不容小视,不停地看到一些所谓一系列的所谓金融专才到处分享自己的见解,靠教学收学费,靠提供买卖信号赚取月费年费甚至终身会员费,还有的一系列的看盘软件;


看到这里,只想再次给大众茫茫股民一些实用的Tips :

i)金融见解文章 - 这些是一系列很有值得参考性的文章,因为它们帮我们省略了自己收集资讯的时间,它们给我是一个Summary,让大家能来明白现在发生什么事情。但往往这些见解都是大同小异,你抄我的我炒你的,文章内容每次都会有一些“不确定性”的字眼,你读了见解也是白读,因为基本它们只是告诉你买也可以,卖也可以,当任何一边吹对的时候,它们就再声明“就如我们上次所预料,市场走势xxx",这些就是金融见解,读不懂没关系,因为自己看新闻也是一样的。

ii)教学收费课程 - 这类的导师通常学费都不便宜,卖的是经验知识,我没法否认他们存在的意义性,但滥竽充数的占为多数,往往容易让人进入盲区,他们的观点通常都是这样:不管是实盘基本面或技术面分析,你拿到的不可能是绝对,然后课程就结束了

iii)提供买卖信号交易者 - 这种通常很容易被封为股神,只要蒙对了,就有人截图大力宣传多棒多赞,但当你真正进来时,你会发现到他只是另个骗子,用的是吹嘘赢家,遮盖输家的概念,赢了就Yes Yes Yes,输了就没声音

iv) 马后炮分析文章 - 这种文章最长见到,哪一只股爆升后才出来说并解释种种理由,说的花天坠地,其实自己什么都没买

iv)看盘软件 - 不多说了,就是看盘选股分析等等等等,只是一种工具

v)还有其他种种服务,但全部都有一个特征 => 不靠谱

市场玩家有3种,虽然没有定义性的分类,但来来去去差不远:

1)smart money - 这些都是一些内幕消息掌控家,或者一些大师级人物,他们都有个同样的特点。(见解深,资金大,但买进时搞的市场波动不大)

2)professional money - 这些都是银行玩家,他们有个特点,眼明手快,一看到怀疑有smart money进来了,他们就下手了

3)dumb money - 这些不用说,都是散户,资金小,人数大,所以习惯性集体被骗,就跟政治权利游戏大同小异,低阶层人士只相信眼前看到的东西,涨就想跟,有消息就想买,但他们往往都不知道整盘局都是有smart and professional money一起联手玩上来的

无风不起浪,要只股票上涨三者缺一不可。

那散户到底有没有机会在股市或任何金融市场挣钱呢?

其实诀窍很简单,你只要把自己变成Professional Money就行了。三步曲节奏 :

- smart money进来会把Volume带大稍微一点,但价格永远不会起太高,这边的最低点你就叫它"support"或者支撑点吧

- professional money责任是让技术指标Indicator成形,不成形怎样能吸引dumb money进来购买呢?

- dumb money负责让smart money和professional money赚钱,因为他们的进场永远是把市场的波动给带动得最大的

看到这里,是不是觉得很简单呢?那实际该怎么应用?

看到Support被跌破,除非您有100%的信息源,不然你就出场先,跌破的因素可以有很多,如果你的资金不够大,别学大手硬撑吃货

看到涨的时候不要太早出手,耐心,等!到support再买,再买,再买

买进后看到涨时,也是需要耐心,它不会马上直接涨很多,因为它需要经过Professional money进来让技术指标成形,然后再涨再涨。

这就是简单的操盘法,大户小户都是这样,差别是资金的大小,资金大的就能先发制人,小的就等被收割的份

好了,不写了,共勤之,共勉之。希望一点的Tips能帮助些人少走些冤枉路吧。

如果有兴趣交流者,欢迎Inbox一起讨论学习,还有给那些称我为所谓”同行“的”同行“,我并不想砸你们的饭碗,也不想跟你们争这种饭碗,因为还不需要吧。但切记,赚钱要对的起良心,蒙骗不能混一辈子的,谢谢

Oil & Gas - At the bottom of the cliff?

Oil & Gas - At the bottom of the cliff?
Author: kiasutrader | Publish date: Thu, 31 Mar 2016, 09:32 AM

We came back from the Douglas Westwood (DW)’s Oil and Gas Talk feeling largely NEUTRAL as their view of a challenging market environment and expectations for a gradual improvement in oil prices were very much within our expectations. DW believes that the current downtrend is worse than the previous one in 2008/09 and concurs with the consensus view on a U-shaped recovery in oil prices, premised on the oil market reaching equilibrium in 2018. Impairments, unfortunately, in their view, are here to stay, despite many companies already taking big cuts in 2015 while earnings outlook remains murky amidst dwindling tenders, utilisation and expectations for further cost cutting. We were pleasantly surprised by the shale breakeven price of USD70- 75/bbl which is higher than our view of USD55-60/bbl, providing more upside room for oil prices over the near-term. While the lacklustre outlook in the upstream segment is likely to persist, we prefer downstream players like PCHEM for its long-term growth story anchored by the RAPID project. Reiterate NEUTRAL.

Current industry downturn is worse than 2008-09. We hosted Douglas Westwood (DW)’s Associate Director, Mr. Thomas Payne in a small group presentation on Tuesday. According to him, unlike the 2008-09 decline which was demand-led, the current down-cycle is led by oversupply mainly dragged by the key culprit, US shale oil production. Payne sees USD35-40/bbl oil price as a fundamental trough and believed it to be oversold at recent lows of USD20+/bbl. He appears confident in consumption growth and appears less concerned on a slowdown in China’s economy.

Expecting US production to show a lagged decline after the sharp falls in US oil rig count. Payne highlighted that approximately 600k bpd shale oil is already off the market (~<1% of global supply) with further attritions likely as long as oil prices stay below USD75/bbl – or the shale break-even line. Drilled but unfracked shale wells remain short-term price cappers but over the longer-term, he believes the shale industry will be capped by availability of capital after this recent ‘turmoil’ as shale investments could be deemed as higher risk.

Payne concurs with consensus view on a U-shaped recovery in oil prices, premised on oil market reaching equilibrium in 2018 with a corresponding oil price of USD65-75/bbl. That said, geopolitical reasons could see a quicker-than-expected recovery. Interestingly, Payne does not see the need for USD100/bbl oil as market has seen 20% cost reductions with E&P players squeezing contractors and service providers. Payne believes there is still pressure until 30-35% levels are reached, more pressure to charter rates and longer period before new fabrication and FPSO jobs surface.

Not over with impairment. Despite the massive kitchen sinking activities carried out in 2015, Payne is still anticipating more impairment ahead in view of weaker cash generating ability but ‘what is the right amount of impairment’ remains a very qualitative matter and differs from one company to another. Owners with more than 10 years’ old uncontracted assets will likely see further write-downs. He emphasised that the impairment is necessary and healthy for players to stay leaner and cost effective.

Mixed outlook on key sub-sectors. Overall, Payne is expecting the South East Asia market to stay sluggish in the next two years and will recover in 2018 onwards especially the offshore asset-focused players. Drilling rates are likely to stay at depressed level until the oversupply is neutralised while robust installation in FPS segment is expected in 2016/17 arising from previous commitment before oil prices plunged but to trend downwards beyond that due to lack of orders at this juncture. Basically, Payne opined that capex spent on LNG project will pick up gradually from 2016 to 2020 as it is seen as a resilient market which is delinked to oil prices.

Maintain NEUTRAL. We came back from the session feeling largely NEUTRAL as the view of a challenging market environment and expectations for a gradual improvement in oil prices were very much within our expectations. However, we were pleasantly surprised by the shale breakeven price of USD70-75/bbl which is higher than our estimate of USD55-60/bbl, providing more upside for oil prices over the near-term. While the lacklustre outlook in the upstream segment is likely to persist, we prefer downstream players like PCHEM for its long-term growth story anchored by the RAPID project. Reiterate NEUTRAL.

Source: Kenanga Research - 31 Mar 2016

迎來女代CEO‧海事重工維持正面

迎來女代CEO‧海事重工維持正面
Author: Tan KW | Publish date: Thu, 31 Mar 2016, 05:19 PM
2016-03-31 16:58

(吉隆坡31日訊)海事重工(MHB,5186,主板貿服組)從5月1日起迎來女性代首席執行員萬瑪西達,以代攝原任董事經理兼首席執行員拿督阿布費特里,後者將回返國油(Petronas)履任新職。

分析

大馬研究對上述發展維持中和,不認為整個管理將面臨重大干擾,因為萬瑪西達經驗豐富,對海事重工前景維持正面。

該行說,萬瑪西達自2002年加入國際船務(MISC,3816,主板貿服組),2010年6月升任海事重工首席財務員時也涉營運、供應鏈與工程頒發評估,可謂經驗豐富。

阿布費特里2015年3月1日履任,4月杪卸任後回返國油任新職,以配合國油集團轉型整頓計劃。

有望獲國油RAPID工程

“海事重工第四季撥出一筆一億令吉資產注銷,未來可再出發,有望獲國油頒發新工程和獲取邊佳蘭的煉油及石油化學綜合發展計劃(RAPID)工程。”

海事重工目前競標工程已由前季40億倍增至目前84億令吉,其中76%來自國內工程,提供更大清晰度。

“在RAPID工程中,海事重工也獲3億1千900萬令吉二手承包工程,預期未來將獲更多訂單。”

該行指出,假設海事重工擷取50%訂單(相比管理層預計獲60%訂單),可額外增加42億令吉訂單,這將是目前所獲11億令吉訂單的4倍,或是2015財政年7億5千700萬令吉訂單的5.5倍。

該行保持“買進”評級,目標價從1令吉調高至1令吉25仙。(星洲日報/財經)

點看全文:http://biz.sinchew.com.my/node/134117#ixzz44TExKfZ0

Econpile gets piling contract in Penang valuing RM51.6m

Econpile gets piling contract in Penang valuing RM51.6m
By Gho Chee Yuan / theedgemarkets.com | March 31, 2016 : 6:09 PM MYT

KUALA LUMPUR (March 31): Econpile Holdings Bhd has bagged a RM51.63 million contract from Eco Meridian Sdn Bhd to provide bored piling and basement works for a hotel development in Penang.

In a statement, today, the piling and foundation specialist said its unit Econpile (M) Sdn Bhd was awarded the contract for the 453-room four-star business hotel within the Setia SPICE (Subterranean Penang International Convention and Exhibition Centre) development on Penang Island.

Setia SPICE is a public-private partnership between property developer SP Setia and the Penang Municipal Council.

Econpile said the piling and basement works under the new contract are targeted to commence in April 2016, and slated for completion in June 2017.

The project is to revamp the existing Penang Indoor Sports Arena (PISA) and aquatic centre, while adding three components comprising a world-class convention centre, hotel and retail outlets to increase service offerings to the target markets.

The business hotel is reported to be the final component of the development.

Commenting on this, Econpile executive director and group chief executive officer Raymond Pang said the contract winning is a vote of confidence for the group, as Econpile had previously completed the piling and basement works for the convention centre within the Setia SPICE development.

"The continuation of the works for reputed clientele, speaks of our technical expertise, project delivery timeliness and overall competitiveness," he added.

Pan said the group's total order book to date of RM627 million would sustain its earnings until early 2018.

Econpile finished the last trading day of the month, fallen by two sen or 1.61% at RM1.22, after 2.52 million shares exchanged hands.

It had a market capitalisation of RM631.3 million.

MMC-Gamuda bags largest MRT2 contract worth RM15.5b

MMC-Gamuda bags largest MRT2 contract worth RM15.5b
By Gho Chee Yuan / theedgemarkets.com | March 31, 2016 : 4:29 PM MYT

KUALA LUMPUR (March 31): MMC Gamuda KVMRT (T) Sdn Bhd (MGKT) has bagged the largest work package for the construction of the MRT Sungai Buloh-Serdang-Putrajaya (SSP) Line, also known as MRT2, valued at RM15.47 billion.

The underground works package involves the design, construction and completion of tunnels, underground stations and associated structures, such as portals and escape shafts for the SSP Line's 13.5km underground alignment from the Jalan Ipoh North Escape Shaft to the Desa Waterpark South Portal.

Mass Rapid Transit Corporation Sdn Bhd (MRT Corp) said the award to MGKT, which is a joint venture between leading engineering construction groups, MMC Corporation Bhd and Gamuda Bhd, was made following a One Stop Procurement Committee meeting, chaired by Prime Minister Datuk Seri Najib Razak.

"The successful contractor for the underground works package had a proven track record in carrying out tunnelling and other underground works in the challenging geology of the Klang Valley," MRT Corp chief executive officer Datuk Seri Shahril Mokhtar said in a statement.

Shahril said MGKT was selected on the basis of best evaluated tender, where it was evaluated on technical and commercial criteria.

"This meant that the successful tender might not always be the one with the lowest price," he explained. "Nevertheless, for this tender, I can reveal that the best evaluated tender had the best score for the technical evaluation and also had the lowest price."

MRT Corp said MGKT was one of five companies shortlisted during a pre-qualification exercise carried out in June 2015. The other four companies are China Railway Group Ltd (CREC), China Communications Construction Co Ltd, Taisei Corporation, and Hyundai Engineering and Construction Co Ltd.

However, only MGKT, CREC and China Communications Construction Company Limited (CCCC) submitted tenders, said MRT Corp.

This is the third major civil and infrastructure works package to be awarded for the SSP Line.

The first, worth RM1.44 billion, was awarded to Ahmad Zaki Sdn Bhd for the construction of the viaduct guideway and other associated works for a 4.5km elevated guideway from Persiaran Dagang, Bandar Sri Damansara to Jinjang.

Earlier this week, Sunway Construction Sdn Bhd clinched a RM1.21 billion contract for the construction of the viaduct guideway and other associated works for a 4.9km stretch of elevated alignment from Sungai Buloh to Persiaran Dagang, Bandar Sri Damansara, worth RM1.21 billion.

The SSP Line is 52.2km in length, of which 13.5km will run underground. It will have 37 stations, 11 of them being underground stations.

In total, there are 66 work packages being tendered for the construction of the SSP Line. They include 10 viaduct guideway packages, one underground works package, two depot work packages, 10 station work packages, and 15 multi-storey park and ride work packages.

The remaining tenders are for Advance Works, Connectivity, Systems, Designated Suppliers and Designated Contractors.

As at 3.02pm, shares in Sunway Construction Group Bhd fell one sen or 0.61% to RM1.63, for market capitalisation of RM2.16 billion. Ahmad Zaki Resources Bhd inched down half a sen or 0.71% at 70 sen, giving it a market value of RM345.73 million.

Gamuda was up four sen or 0.82% at RM4.92 for RM11.80 billion; while MMC Corp gained three sen or 1.42% at RM2.14, giving it a market value of RM6.30 billion as at 3.06pm.

Mudajaya - The Geese Started Producing Golden Eggs (2) - YiStock

Mudajaya - The Geese Started Producing Golden Eggs (2) - YiStock

Author: YiStock   |   Publish date: Thu, 31 Mar 2016, 10:17 AM 

logo

MUDAJAYA GROUP BERHAD

Left 3 years, Right 3 years. Finally the geese has started laying golden eggs!
I caught this golden goose. 
In October 2015, i wrote about mudajaya after reading Angel's report as per link below
http://klse.i3investor.com/blogs/mudajaya/83177.jsp

Despite lot of "rumous" spreading in the forum saying that RKM powergen Unit 1 & 2 have been ready months ago, the management of Mudajaya didn't make any annoucement. 
Then only on 17 March, they put out this annoucement: 

OTHERS MUDAJAYA GROUP BERHAD ("MUDAJAYA") R.K.M Powergen Private Limited : 4 x 360 MW Coal Based Independent Power Plant Project in India ("IPP Project")

MUDAJAYA GROUP BERHAD

TypeAnnouncement
SubjectOTHERS
Description
MUDAJAYA GROUP BERHAD ("MUDAJAYA")

R.K.M Powergen Private Limited : 4 x 360 MW Coal Based Independent Power Plant Project in India ("IPP Project")
We refer to our announcements dated 31 October 2006 and 13 May 2009 in relation to  Mudajaya Corporation Berhad’s investment in R.K.M Powergen Private Limited ("RKM").
As for the sale of power to the Chhattisgarh State Electricity Board and PTC India Limited as announced on 31 October 2006 and 13 May 2009 pursuant to the Power Purchase Agreements (“PPAs”) respectively, the terms are being renegotiated by both RKM and the relevant parties which have yet to be finalised.
For Phase 1 of the IPP Project comprising Unit 1, the Board of Directors of Mudajaya is pleased to announce that its 26% owned associated company, RKM in India has notified Mudajaya Corporation Berhad on 16 March 2016 that it has entered into a PPA for 25 years with several power distribution companies in the State of Uttar Pradesh on 15 March 2016 for the sale of 350 MW where the commercial delivery is targeted for October 2016.  However, both parties are in discussion for an early supply of electricity as allowed under the PPA, and RKM is confident that in anticipation of the higher demand for power during the summer period, Unit 1 will commence commercial delivery soon.
The power plant has a total capacity of 1,440 MW consisting of 4 generating units of 360 MW each with the development phases comprising Phase 1 (Unit 1) and Phase 2 (Units 2, 3 and 4).  RKM has also confirmed on 16 March 2016 that Units 1 and 2 have achieved the commercial operation date and are ready to commence the sale of power. The negotiation for the PPA for Unit 2 is in progress and is expected to be concluded soon.  Units 3 and 4 are still work in progress.
The successful commissioning and commercial operations of Units 1 and 2 mark a significant milestone for the Group’s participation in the power sector in India after lengthy delays.

This announcement is dated 17 March 2016.

-----------------------------------------------------------------------------------------------------------------------------------------------------
In above annoucement, the management highlighted that the selling of power will only in Oct 2016.
Personally i think The management acknowledged the long delay of the power plant, therefore, they become VERY CAREFUL when making any annoucement. Perhaps they want to be VERY VERY VERY sure things really going well.
I did a search in India from the website of "CENTRAL ELECTRICITY AUTHORITY"
I found below:


From above report, i pretty sure that Unit I & II has achieved its COD target. In fact, it has STARTED generating power! 

What else?

Mudajaya - Obvious Winner for MRT 2 ?

 
Below i extracted from MRT CORP website and list of winner for MRT 1























From above MRT 1 winner list, SunCon and AZRB has already been awarded for MRT 2.

I believe Mudajaya, Gadang & Muhibbah Engineering will be awarded with MRT 2 Viaduct Project too.

By the way, what is Viaduct?

It is the high trestle bridge


Cheers, YiStock
31 March 2016

MER: Reiterates outperform call on MYEG

MER: Reiterates outperform call on MYEG
Author: kltrader   |   Publish date: Thu, 31 Mar 2016, 11:29 AM 
Macquarie Equities Research (MER) believes that MYEG will continue to be the preferred government e-service provider, with growing business volume and profit margin expansion. Hence, they have reiterated their outperform recommendation on MYEG. Outperform with a TP of RM2.60 (27% upside) MER reiterates their Outperform recommendation on MYEG with a DCF-derived TP of RM2.60. MER likes MYEG for its asset-light business model, high ROE (>30%) and exciting three-year earnings CAGR of 61%. A pick-up in registrations under the rehiring program or possible announcement of a Goods and Services Tax Electronic Monitoring System (GST EMS) program by end-CY16 could rerate the share price from its undemanding 19x CY17E PE. Additionally, Macquarie’s quant model ranks MYEG within the top 3% amongst 660 global software and services companies. Coverage was transferred to Isaac Chow in February.High profit margin, high ROEMYEG’s businesses deliver high EBIT margins (40%-48% in FY10-15A) and good ROE of 22%-28% due to its scalable business model. As an e-government services concessionaire, MYEG self-funded the R&D costs to develop its proprietary technology. As MYEG continues to develop its infrastructure (software and hardware) and gain market acceptance, MER believes it will be the clear leader in Malaysia e-government services segment. Its growing user base and increase in product offerings should enable MYEG to sustain profit margins.Earnings is expected to quadruple by FY18EMYEG’s earnings are at a tipping point – 1HFY16A net profit grew 125% yoy to RM59m, and MER forecasts net profit to quadruple by FY18E, driven by business volume growth and profit margin expansion. Key growth drivers are:
  • Foreign worker’s permit (FWP) renewal. Cessation of over-the-counter FWP renewal services in May’15 channels transactions onto MYEG’s online portal. Together with an increase in FWP quotas under the ongoing Illegal Foreign Worker Rehiring Program, MER forecasts MYEG’s FWP revenue to jump from RM40m in FY15 to RM260m in FY18E.
  • GST EMS fuel second leg of earnings growth. MER expects the government to announce the GST EMS program by end-CY16, leading to installation of 100,000 GST EMS by FY18E, contributing an additional RM75m in revenues.
Bull case FV at RM2.93 (+44%), bear case at RM1.94 (-5%)MER’s bull case fair value of RM2.93 assumes addition of 1.5m FWP quotas, faster roll-out of GST EMS Phase 2 (100,000 units per year) and higher market share gains for key commercial products. Conversely, MER’s bear case FV of RM1.94 is based on 0.5m addition in FWP quotas, lacklustre roll-out of GST EMS Phase 2 @ 30,000 units per year and lower commercial market share gain.Risk of non-renewal of master concession is lowMER believes that risk of non-renewal of master concession in 2020 is low, as the government has yet to develop any parallel delivery channel. Besides, MER expects MYEG to gain strong consumer trust as the preferred e-government service provider by 2020, supporting its case for contract renewal.Source: Macquarie Research - 31 Mar 2016

利好抵銷利空‧手套股目標價下修

利好抵銷利空‧手套股目標價下修
Author: Tan KW | Publish date: Thu, 31 Mar 2016, 01:17 PM

2016-03-30 16:27

(吉隆坡30日訊)馬幣走強和成本適度增長,將抵銷產量增加的利好因素,分析員預期橡膠產品(手套和保險套)最新業績將按季持平,並基於美元升值利好消散而下調目標價。

豐隆研究表示,該領域生產成本將微幅增加,其中天然氣和電費半年調整,加上最低薪金從7月起上調,將可能對該領域賺幅帶來壓力,至於外勞人頭稅調高則只對盈利帶來約1%的輕微影響。

儘管近期天然膠和乳膠價格上漲,但該行預期原料價格升勢將受抑制和趨軟,因供應過剩和中國汽車業成長放緩。

美元升值催化因素消散

美元升值的催化因素已經消散,因大馬經濟基本面強穩,令馬幣重新抬頭。該行已將2016至2017年馬幣兌美元匯率預測從4令吉調整至3令吉80仙,領域估值也從過往5年平均本益比的一倍標準差下調至0.5倍標準差,因此全面下修個股目標價。

其中,賀特佳(HARTA,5168,主板工業產品組)目標價從5令吉32仙下調至5令吉零9仙、高產尼品(KOSSAN,7153,主板工業產品組)從7令吉零6仙調低至6令吉73仙、頂級手套(TOPGLOV,7113,主板工業產品組)從7令吉51仙大砍至6令吉46仙及康樂(KAREX,5247,主板消費品組)從4令吉52下修至4令吉零8仙。

禁用帶粉手套
影響不大

另一方面,美國食物及藥物管理局(FDA)建議禁止帶粉醫療手套(powdered medical gloves),分析員認為此舉並不會對手套業者造成太大影響,反而可能促進丁腈手套需求。

艾芬黃氏研究表示,FDA認為帶粉手套可能會給病人及醫療業者帶來傷害,醫療領域可能禁用帶粉手套,不過,FDA聽取公眾意見,有關建議將延後90天再行定奪。

丁腈手套需求走高

艾芬黃氏說,業者已經做好準備,將手套製造轉換至丁腈,因丁腈手套需求走高。

帶粉手套常見於乳膠手套,頂級手套40%產品為帶粉手套,而速柏瑪(SUPERMX,7106,主板工業產品組)為28%。賀特佳及高產尼品主要生產丁腈手套。

艾芬黃氏看好賀特佳作為最大丁腈手套廠商,將是最的受惠者。

豐隆和艾芬黃氏都給予領域“中和”評級。


(星洲日報/財經)
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Dialog to build industrial estate in Pengerang

Wednesday, 30 March 2016 | MYT 9:03 PM
Dialog to build industrial estate in Pengerang



The storage tank farms and port facilities at the Pengerang deepwater terminal.

KUALA LUMPUR: Dialog Group Bhd, which has a 46% effective interest in the RM5bil Pengerang Independent Deepwater Petroleum Terminal, plans to develop an industrial estate within its deepwater terminal land.

In a filing with Bursa Malaysia, the oil and gas technical service provider said it had incorporated a wholly owned subsidiary, Sungai Rengit Industrial Estate Sdn Bhd, to develop the industrial estate that would support the development of the petroleum and petrochemical industry in Pengerang, Johor.

The crude oil and petroleum product storage terminal, situated on 101.2ha of reclaimed land, is a joint venture with Royal Vopak of Netherlands and the Johor government. The terminal’s second phase of construction, which started in December 2014, will also include liquefied natural gas regasification facilities developed together with Petronas Gas Bhd and the Johor government.

Dialog executive chairman Tan Sri Ngau Boon Keat said in 2014 that the terminal project would help attract RM80bil to RM90bil in investments to the area as it expanded over the years.

Your Happiness Should Not Wait… Practice It Now

Source: http://www.harveker.com/2016/03/29/your-happiness-should-not-wait-practice-it-now/

Your Happiness Should Not Wait… Practice It Now

There’s a story of a Zen master who falls off the edge of a cliff, but he’s able to grab a berry bush sticking out of the cliff wall to keep from falling all the way down to the ground.

As it turns out, though, he looks down and he’s only about 10 feet away…but there’s a hungry tiger that sits there waiting for him.

He knows he can’t hang on for much longer, so what does he do? With his last ounce of strength, he picks a berry, puts it in his mouth and enjoys it. End of story.

What does that mean?

It means that it’s not the situation that creates your outcomes in life; it’s always your reaction to the situation that will determine your life.

There is a part of you, your higher self, that is into staying present with what you’re doing and where you’re at in any given moment, no matter what’s happening around you.

If you feel stuck, or like things aren’t moving or changing fast enough, or whatever negative weight you’re feeling, it’s because you’re not 100%, present with whatever is at your feet, even if it seems crappy.

Here’s the problem. You’re thinking, “Harv, you’re not giving me the answer that I want because I want to make a move and feel more satisfied now!”

I’m going to tell you something you’re going to hate: if you can’t be happy with where you’re at, you aren’t going to be happy in the next place either. How you do anything is how you do everything.

While you are in this job/ business you hate or whatever you want to change or improve, practice enjoying where you’re at now. Find the good in it.

I am going to tell you something you’re not going to believe. When you can do this, magic is going to happen. Something will unfold and call to you, and another opportunity is going to be standing right in front of you that you can move to with elegance and grace without fear.

Why?

It’s because you’re coming to your life with a positive and enlightened energy instead of a fear-based, negative, contraction-based energy that is only going to infect your next location. You probably won’t even see the opportunity coming.

I want you to do something totally counter-intuitive: act as if you’re going to be at that crappy job for the next 25 years, and you’re not going anywhere.

Regardless of the area of life we’re talking about that you’re dissatisfied with, find the satisfaction in it. Don’t look for anything outside of it.

Even if you end up doing this for 30 days, 10 days, or 3 months, it doesn’t matter; find happiness where you’re at and just be open to the new things that come into your life.

The point isn’t that you blindly accept people crossing your boundaries, or that you be a doormat in clearly unacceptable, intolerable situations that aren’t safe.

The point is that the satisfaction we’re all looking for–from who we want to be, to what we want to do, to what we want to have, isn’t something you can attain.

Just like your purpose or your calling. You don’t find your calling. Your calling finds you, and you’ll know it when you are engrossed in present love and passion of doing something, and you’re not thinking about it.

When it comes from joy, happiness, passion and excitement, that’s how you know. It comes from thinking, “I love doing this. When I’m doing this, I’m in my flow.”

You don’t have to love everything about it. I don’t love all the logistics about all of my workshops, courses and webinars, but I love being in the moment and speaking with people around the world!

This is the fruit of staying in the present and finding satisfaction now even when it seems like there is none to find. This is how true happiness and success finds you.

Wednesday, March 30, 2016

靠存股致富術 工程師喬飛 靠存股拼年領百萬股息!

[转贴] 靠存股致富術 工程師喬飛 靠存股拼年領百萬股息!!買一檔龍頭股,做10年想賺價差,竟然小賠,再做10年,能反虧為盈嗎?
Author: Tan KW | Publish date: Wed, 30 Mar 2016, 11:59 AM

買一檔龍頭股,做10年想賺價差,竟然小賠,再做10年,能反虧為盈嗎?答案是可以,如果你改用「存股+股利再投入」,就會賺到大錢!

一位工程師,就放棄做10年都賺不到錢的價差操作法,5年前改用「存股+股利再投入」的存股法,不但績效由負轉正,到今年手上累積的存股部位市值已達430萬元,還能年領超過25萬元現金股利。他預估再存4年,就能年領百萬元現金股利,達成財務自由的目標!

部落格「喬飛的生活日誌」的主人喬飛,就是這位工程師,今年36歲的他,目前派駐在大陸,但他把錢都存在台股。每天下班回到宿舍,他一定打開電腦,一邊看著自己寫、具有自動化程式的「養老股檔案」,是否又出現可以買進長存的股價,一邊則研究如何讓存股計畫更完善。

股市沉浮10年一場空 無心存股發現致富祕訣

很難想像,投資股票十幾年的喬飛,在2005年以前,其實沒賺過什麼錢,「因為想馬上獲利,就做價差,結果都低買高賣,賠錢居多!」

在越洋電話中他如此告訴我。

當時,喬飛做價差的股票有兩種,一種是從投資節目和親朋好友那兒聽來的明牌,大都是些奇怪的股票;另外一種則是自己挑的產業龍頭股,像中鋼、中華電等。結果,奇怪的股票讓他賠錢出場,產業龍頭股好一點,沒賺沒賠,只是拉長時間看,投資10年,等於白忙一場。

直到2004年時,同樣在科技公司工作的女友,分紅配得2張台達電(2308)股票,為紀念第1次領到員工分紅配股,他們決定不賣,一直擺著;到了隔年,竟領到4,820元現金股利,加上96股的配股。

喬飛馬上算了一下,把原本配股領到的2張台達電,按領取當年年底股價56元算,市值是11萬2,000元,到隔年年底,因股價上漲加上配得股利,市 值變成了14萬1,000多元,報酬率竟達25.9%,遠遠打敗他之前的操作績效,這個無心插柳的存股結果,讓他展開了3階段的存股行動。

第1階段》只抱股,股利沒再投入

因為只有一年的成績,喬飛還不太放心,所以他先分成2個帳戶操作:一個繼續以鴻海等電子龍頭股做價差,另一個改成存股。

才存3年,就碰上金融海嘯,當時做價差的帳戶,帳面虧損6成。但存股帳戶裡的台達電,雖然股價在2008年從年初最高的110元,跌到年底最慘只有 56.6元,跌幅達到48.55%,但在配股配息的加持之下,當年度還是配得了1萬2,000元股利。抱股4年下來,含配股配息所累積的報酬率,仍有 48.1%。

「如果把現金股利再投入買股,績效一定更可觀。」喬飛當時回頭計算績效得到這個結論:存股,即使遇到股災,都能創造正報酬率,還帶來現金流,

讓他更相信存好股,長期會致富。

雖然另一個帳戶虧損6成,但還好都是可以長抱的績優龍頭股,不怕公司會倒,因此不但沒有賣,反而趁大跌進場加碼,長期下來一定可以賺更多。

只是那時候,喬飛卻犯了一個錯誤,「從8,000點跌到6,000點就一下加碼50萬元,結果大盤跌到5,000點時,已沒有資金可投入,成本無法再攤低。」他回憶。

第2階段》積極省錢、調整持股

為了要快速累積存股資金,喬飛透過自己寫的記帳程式,節省開銷,並降低生活支出,和女友兩個人從2009年開始,竟能每年存下200萬元。



▲靠存股組合滾大財富

另外,賺價差的帳戶裡「被套牢」的鴻海等股票,隨著景氣復甦,開始回本,甚至小漲1成,但在科技業工作的喬飛,見證到產業競爭和變化大,

獲利成長到了極限,不適合用來存股長抱,便先轉換現金,準備買進新的存股標的。

在重新規畫後,他很快的調整出以下存股方法:

1.做好資金分配

喬飛和女友的年薪都超過百萬元,一起存錢速度快,加上股利要再投入,資金累積更快。但他並不急著把資金全部投入,而是先存到2年生活費約100萬元,

當作緊急預備金,接下來存的錢才用來投資。

2.嚴格選股

①大型股,且公司市占率高或技術領先,正派經營。

②過去10年配股配息穩定。

在原本持股中,若符合這2個條件的,就留下來繼續存。

3.挑買進時點

喬飛自創「還原殖利率」指標,當公司在上半年公布去年度股利,他以此計算還原殖利率,只要超過6%~7%,就在當年配息前找買點買進。



▲算出還原殖利率,配息前找買點

公式:還原殖利率=[股利÷(1-扣抵稅率)] ÷股價

另外,由於喬飛電腦中的養老股檔案,會定期自動更新所有持股的股價、營收等數據,若營收有成長,股利應該也會提高,買進價就會上調,看到更新的最新股價到達設定的合理價位時,他就出手。

4.抱股策略

①當股價上漲,還原殖利率跌到6%以下,暫時不買。

②若股價下跌,「如果公司營運沒問題,但股價跌很多,代表還原殖利率提高,應該更要加碼!但可用資金絕不一次投入,也不買滿。」喬飛說,這是他從金融海嘯學到的教訓。

而他加碼的原則是,比合理買進價低15%,就先買2~3成;再跌15%,就再加碼2~3成;如果股價跌了40%,應該就是遇到系統性風險或崩盤了。

喬飛這階段的存股計畫,很快就見到績效,到今年,執行不過2年的時間,原本持有的台達電、中鋼、中華電等存股組合,張數已快速累積超過70張,每年現金股利可領到25萬元之多。

理財部落客「怪老子」蕭世斌認為,喬飛成功的關鍵,在於他保留了部分現金,耐心等待合理的買進價位。「買進成本愈低,對股價波動風險的免疫力愈高,就會成為你長期存股的定心丸。」怪老子說。

擅長挑選成長股的基金達人何文賢也認為,喬飛對於投資股票的觀念非常清楚,選股和買進價的設計也很縝密,尤其會每月更新數據,等於是在用滾動的獲利(Rolling EPS)和營收,來推估未來殖利率與合理價,較不容易買錯,而這樣認真做存股投資,長期成功的機率會很高。

不過為讓存股風險更降低,除了喬飛已採取的「跌破買進價會加碼」、「漲過合理價會停買」操作策略之外,何文賢對喬飛有以下2個建議:

1.留意合理價計算基礎偏高

目前喬飛的方式,較適合用來評價獲利穩定或成長型的公司,但景氣循環波動較大的公司,例如四維航,在景氣好時,獲利可以衝高到11元,不景氣時就只有賺3元,所以若用該公司獲利11元時配的股利來算殖利率,恐怕合理價會偏高。

因此,何文賢建議,要用2個循環(大約10年)的獲利平均,甚或是獲利較低時的股利水準,來設定合理價,持有風險會大為降低。

2.本益比過高宜思考換股

如果個股的股價漲到太離譜,可考慮先獲利了結,把資金轉到殖利率更好的標的上。例如喬飛所持有的中碳(1723),本益比已超過18倍,要去思考,


接下來3、4年每年獲利是否能持續高度成長,如果沒有把握,就先出場為宜。


第3階段》集中財力,加碼存股

6年前,喬飛的股票資產是零,現在手上存的股票市值超過400萬元,並且連續2年都賺到7%的現金股利,

「以每年再投入200萬元,以及把賺到的 7%股利再投入;

在2015年時,我的股票資產可累積1,500萬元,一年可領到100萬元的股利。」喬飛用他養老股檔案中的現金流試算後,得意的告訴我

喬飛在存股及股利再投入的操作得到成效後,今年除了薪水和股利的再投入之外,他認賠贖回投資的基金,先停泊到銀行定存,等待可再加碼存股的時機。

不過,在他集中財力,準備加速存股時,大盤已逼近9,000點,這樣會不會擔心?「還是有些股票,可以找到合理買點。存股要持續做,我不可能等大盤崩盤了,才開始一次買入。」喬飛說。

同時他認為,股票是可以抗通膨的。目前台股指數的10年均線在6,000多點,隨著通膨,股價10年線會愈來愈高,「現在的8,900點,到10年後,可能只是10年均線了。」

受惠存股+股利再投入的好處後,喬飛最近在想,在他退休後,靠每年領的現金股利就足夠生活,不用動到股本,

「若是我走了,沒有小孩,就捐給做公益的基金會,或送給偏遠學校的棒球隊,他們還能獲得穩定的現金流!」

How to be the few above-average investors kcchongnz

How to be the few above-average investors kcchongnz
Author: kcchongnz | Publish date: Wed, 30 Mar 2016, 03:47 PM



In my last article on “Should you avoid the stock market?” in the link below,

http://klse.i3investor.com/blogs/kcchongnz/93614.jsp

I have deliberated that the stock market is an excellent place to build long-term wealth. It was shown that for a 141-year period from 1871-2012 in the USA, stocks’ compounded annual return (CAR) is 8.6%, way outperformed the 4.7% for bonds and 2.7% for gold.

Back in Malaysia, the KLCI has a CAR of 9% for the last 10 years covering a complete economic cycle from year 2006 to 2016, compared to the average bank deposit rate of about 3% during the same period. That is also a huge difference in return compounded over a ten years’ period.

The article also discussed the back testing a portfolio of 19 Bursa stocks of mine as published in i3investor, which shows that the portfolio has yielded a CAR of 24.4% for the last 10 years, outperformed the 9% of the broad market during the same period by a wide margin.

Hence it would seem a pity if individuals shun investing in the stock market and lose the golden opportunity to build long-term wealth.

However, life is not always as rosy as it seems to be.

The poor performance of individual investors



In the same article, I have shown that an average investor has been underperforming by a wide margin when compared with the return of the broad market due to various factors which are not favourable to the retail investors. This is true not only in the US, it is also true all over the world, including that in Bursa.

Here is a typical portfolio belonging to an average investor which actually went into huge losses of 43% while the broad market has gone up by 10.8% during the same period.

http://klse.i3investor.com/blogs/kcchongnz/67199.jsp

The main reason why individual investors perform poorly is because in the stock market, the odds are leaning heavily against them in an uneven playing field as it is dominated by fund managers, syndicate players, insiders etc. The problems actually go deeper than that. The herd mentality and psychology of fear and greed, overconfidence, sensation seeking etc. also play a very important role in the outcome of investing experience of individual investors.

It is really a jungle out there for retail investors. It is a loser’s game for retail investors. They as a whole have little chance, unless he is the 5%-10% above-average investors who have skewed the average results.

Knowledge (Plus Experience) is power

I have also deliberated that to be an above-average investor, one has to know the language of the business, i.e. some simple accounting, as investing in a stock is akin to investing in part of a business, and he must know how to value a business. The other important thing you have to know is the psychology of investing, having a proper mind set when investing, and some useful philosophies and methodologies of investing. There are plenty of resources out there for you to learn about these skills, including some online courses which one can learn during his own free time.

However, there are some problems too as shown in the comments in my previous thread.

[Posted by limko1 > Mar 25, 2016 10:50 AM | Report Abuse

Most people won't bother to invest in equipping themselves with the right attitude and knowledge on Investing. They just want the easy way by listening to tips and rumours. They just want to gamble.]

This is a real problem, people just want to take the easy way out hoping to make money from tips and rumours. They think there are tooth fairies in the stock market who want to help them to make money in the stock market by giving them tips for free.

By the way, of late there are many tips given in the public forums, but how many of you have made money in the last few months following these tips? Why are there people out there so “kind” in helping you to make money from the stock market? Why are you the chosen ones?

I do share my knowledge and views in public forums with pleasure, but frankly I find no value created for the society as whole by helping strangers to make money from the stock market. I have a lot of better and more noble things to do to the society, such as educating the public how to manage their personal finance etc.

Gambling? What is the odds against you when you are gambling with the institutional investors, the fund managers, the insiders, the syndicates, or even the ones who give you the tips, knowing very well that gambling in the stock market is a zero sum game?

Here is another good comment in the thread.

[Posted by 3iii > Mar 24, 2016 08:11 AM | Report Abuse

KC, On this topic of yours, perhaps I may add. It is great to know you are conducting courses to educate and equip those interested in fundamental investing. This is commendable. The truth and this is also borne out from my observations and interactions, only a minority will be in the position to benefit totally from everything you share. The biggest enemy to investing is still the person starring back at you in the mirror - yourself. A good education to develop a sound investing philosophy is certainly a sine qua non to profit from the stock market. The biggest enemy of your cash is inflation. The best friend of your cash is compounding. The stock market is a safe place to compound your wealth for those who know how to. It is simple but not easy.]

Besides sharing and teaching the fundamental of investing, I also dwell with the behavioural finance in my online course. Yes, it is not easy. Few are really committed to this what I consider a very important aspect of their personal finance, to learn to build long-term wealth slowly but surely.

Fundamental value investing is about finding good companies and only invest in them when they are selling at reasonable or better still, cheap prices. Often, when you find one and invest in it, it normally takes some time, 3 years, 5 years for others to discover it too when they show their results in the long run for the price to go up to their intrinsic values. Very few investors have that patience. They keep on singing the song “Three years”, 3年, left three years and right three years, expressing how frustrated it is to wait for three years to see their love ones again, or for the investments to bear fruits.

“An entrepreneur needs 3 years to see the fruits of his success of his venture, a house requires three years to build. Why can’t we investors wait for three years to see the good results of their investments?”

Cold Eye.

Yes, it is very true of this statement by the commentator below,

“The biggest enemy to investing is still the person starring back at you in the mirror - yourself.”

Most people have their career and family as their priorities, which should be, but they should have better time management to at least spare some time for this important aspect of their personal finance. Some are not willing to spend eight months to go thoroughly through a fundamental investing course. It is too time consuming and they prefer to do the other easy way out. They opine the fundamental analysis is just theory. I try to make fundamental value investing as simple as possible, but I also agree in what Albert Einstein said, “Everything should be made as simple as possible, but not simpler.”

There are also many who do not think FA works, or can work alone, despite of the volumes of evidences showing otherwise as shown in these links below.

http://klse.i3investor.com/blogs/kcchongnz/92580.jsp

http://klse.i3investor.com/blogs/kcchongnz/92871.jsp

Seth Klarmen also said it right to the point that for fundamental value investing, it is either you get it or not. However, most people don’t get it, and hence won’t bother about it.

Yes, investing is not easy, and anyone who thinks it is easy is stupid, said Charles Munger. Those who do not know how to read financial statements and understand the business they invest in, and those who have no time to learn about it will be even more difficult.

However, they may have an alternative if they still wish to build long-term wealth from investing in the stock market, i.e. to engage a knowledgeable and proven successful person to manage the investment for them. But make sure they don’t burn a big hole in your pocket, and more important, there is a proper alignment of both your interest and his interest.

However, there are still other valid concerns such as these below.

Some myths of investing



Hi KC,

I have 3 concerns and they are:

(a) The market seems to be going on the downtrend in the near future and if so, whether it is the “right” time to invest as even very fundamental stocks will also follow if that happens. I understand that some will say that timing is not critical for fundamental investing but isn’t a lower entry price preferable?

(b) I would like to learn how to invest first rather than be dependent on stock pick service only in the long run.

(c) On the first issue, is there a method to mitigate such a scenario like buying in stages instead of in one go?

Thank you.

Blanked

Regarding (a) above, the right timing is surely critical, buying a stock at a lower price later is definitely “preferable”, but my question is how are you so sure that you can buy at the right timing and get a lower price later, and not that the price will shoot up high before you can wait for that opportunity? How are you so sure that this “downtrend” will not suddenly reverses itself?

I have read many academic research showing that nobody would be able to predict the trend of the market correctly and consistently. You know with the power of computer now, it can easily simulate any trend one wishes and back test it. However, there is no statistical evidence that one can predict the trend of the market in the future based on the past.

Rather, the pertinent question should be whether you find any good buys now? If so, is the overall market that overvalued historically?

Regarding point (c) above, sure, buying stock in stages does seem to reduce risk and make you feel happier when the stock price drops after you have bought it as you can now buy it at lower price, and hence lowering your average cost. That is what is called Dollar Cost averaging (DCA). That is what the unit trust agents who sell you the unit trusts to you by asking you to sign a form and then periodically withdrawing your EPF money tell you to do so. That is how they get the most commission from your investment, to withdraw your EPF money for investment to the limit, and then again when your EPF money has built up again later. Think about how can you make money when upfront, 6% is taken off from your money before investing the rest of it in the unit trust, and continue to charge you 2%-3% annually from your fund?

The stock market has been growing at a CAR of about 10% long-term in most developed and developing countries, including that of Malaysia. How can one get a better return by investing his money in equal amounts over time using DCA when the probable direction of the market is up? You may be brain washed that it is a less risky, or lower volatility way of investing, but that is for the birds. The benefits of DCA has long been debunked.

Point (b) above, “I would like to learn how to invest first rather than be dependent on stock pick service only in the long run” is an excellent comment which I think most aspiring investor should adopt.

So contact me at the email below for an online investment course for a small fee.

ckc14training2@gmal.com

For those who are busy in your career and have limited time but still wish to invest in the stock market to build long-term wealth by someone reliable to manage your investment can also contact me for a fee.

For those who are interested in the performance of my previous picks and portfolios, they have been established in i3investor since more than three years ago and you can judge my yourself their performance as shown in the links below:

http://klse.i3investor.com/blogs/kcchongnz/88504.jsp

http://klse.i3investor.com/blogs/kcchongnz/89516.jsp

http://klse.i3investor.com/blogs/kcchongnz/92412.jsp

http://klse.i3investor.com/blogs/kcchongnz/92727.jsp

http://klse.i3investor.com/blogs/kcchongnz/92871.jsp

You can see the consistency in extra-ordinary returns from all the portfolios above with little risk.

K C Chong