哦哦理财网站是以理财和投资股票爱好者交流学习为目的，部分文章原创，部分文章转贴，转贴文章已尽可能的标明作者和出处。如果您对某些内容有版权声明，请联系
，本网站将标明或删除。不周之处，敬请谅解。
希望通过哦哦理财网站，可以与网友们分享财经消息，一起学习理财以及投资股票！如果您有任何意见，可以在此留言。
浏览旧留言：
从2005年到2006年11月
从2006年11月到2007年4月
哦哦理财网站是以理财和投资股票爱好者交流学习为目的，部分文章原创，部分文章转贴，转贴文章已尽可能的标明作者和出处。如果您对某些内容有版权声明，请联系，本网站将标明或删除。不周之处，敬请谅解。
希望通过哦哦理财网站，可以与网友们分享财经消息，一起学习理财以及投资股票！如果您有任何意见，可以在此留言。
浏览旧留言：
从2005年到2006年11月
从2006年11月到2007年4月
May 1st, 2007 at 1:45 am
你好oo前辈,小弟最近一直在研究年报不过遇到一些困难,请oo前辈帮帮忙.请问在Cash Flow Statements为什么tax paid会加进Profit before taxation里?tax paid不是开销吗?
和Share premium是什么?我刚看了GPACKET的年报share premium突然从 30,988增加到281,833.
请oo前辈赐教,谢谢.
May 1st, 2007 at 8:05 pm
Tax Paid就是应该付给政府的税务，也算是公司的支出，不过不能算是公司的开销。
因为公司有赚钱，才需要付税；公司没有赚，就不需要付。
至于为什么会加进去Profit before taxation，你就必须看看财务报告的notes了，里面应该有详细的解释。
从2000年起，公司需要估计一年内的盈利，然后推算出需要缴付的税务，这样一来，公司就可以每两个月缴付这个估计的税务。
到了年尾，公司真正的盈利出炉了，公司就可以知道真正需要缴付的税务。
那么，如果之前缴付多了，就可以跟政府要回；如果缴付少了，当然就要将欠缺的税务缴清。
以上只是哦哦假设的其中一个可能性。不晓得那个位网友精通会计，可否帮帮忙？
至于Share Premium，应该是之前GPacket有进行Private Placement，大约是10%的总股数，哦哦不晓得这10%的股权卖给谁。
那么，这新的10%股权，每一股肯定不只值它的账面价值（Par Value），因为公司除了原本的股东基金，还有公司几年来的盈利，或者说Retained Earnings。
所以，要买这10%股权的人，肯定要付比账面价值（Par Value）要高的价格。
那么，公司收到这笔比账面价值多出来钱，就暂时存入Share Premium Account。
所以，GPacket的Share Premium突然增加，应该是因为之前的Private Placement。
希望可以帮到你，谢谢。
May 2nd, 2007 at 12:30 am
谢谢.指导.oo
May 6th, 2007 at 12:06 pm
hi oo
我觉得这是世界上最好的网站之一，希望越办越好。
May 6th, 2007 at 12:15 pm
非常谢谢你的支持！
哦哦会加油的。
May 18th, 2007 at 10:34 am
From KLSE website, in all 2007 company quaterly report, I found this row:
“Profit/(loss) attributable to ordinary equity holders of the parent”.
oo, you know what is this means?
Thanks!
(Sorry, this machine don’t have chinese editor)
May 18th, 2007 at 3:57 pm
这句话的意思应该是：所有归于母公司的盈利或亏损。
也就是说这间公司是属于另外一间公司（母公司）所有，那么这间公司的盈利/亏损都是属于母公司的。
对吧？谢谢。
May 20th, 2007 at 1:48 am
有人在美国股市投资吗?
美国股市透明高,而且上市公司的财务报告,管理层,各种资料等不仅容易获得,而且比较齐全详尽,其中包括专家对公司未来发展的估算等等.(游览msn money 还是 yahoo! Finance)
况且目前上网做海外股市买卖也不是难事. oo如何评价?
May 21st, 2007 at 2:11 pm
oo, I am confusing with the Par value and NTA.
I understand that when a stock is listed, it is RM1.
After it split 1 to 2, it will become RM0.50.
Split again 1 to 2, it will become RM0.25.
On the other hand, NTA/share initially also RM1.
And after it split twice, the NTA/share now is 1.90.
So, my question is the NTA 1.90 now, does it related to the Par value?
I know if the Par value is RM1, and NTA is 1.9, still consider healthy.
But, I am not sure whether NTA 1.9 is consider healthy when the Par value is RM0.25.
(sorry, no chinese input here.)
May 22nd, 2007 at 9:38 am
其实，NTA和Par value是没有直接的关系的。
Par value就是股票的面值，并不代表着真正的价值；而NTA/share就代表着每一股股票真正的价值了。
一般上，公司开始营业后，就会有盈利，如果这些盈利没有用来派发股息，那么这些盈利就被纳入NTA里，叫做Retained Earnings。你只要看看公司的Equity Statements就可以知道公司有多少Retained Earnings，就是公司累计下来所赚的钱。
所以，公司split之后，NTA还可以继续上涨，这是因为公司在赚钱！
因此，NTA = 1.9，Par value = 0.25 并没有什么奇怪。
Par value并不重要，重要的是，NTA = 1.9，现在的股价是多少呢？
谢谢。
May 22nd, 2007 at 1:15 pm
After reading the
释放价值
and your reply.
I Understand now.
May 22nd, 2007 at 3:51 pm
OO,为什么不提供Rss呢？
May 23rd, 2007 at 9:55 am
谢谢Kwing的提议，哦哦弄了RSS，你可以在本站右上方subscribe。
May 23rd, 2007 at 11:57 am
非常感谢哦哦.我还从未踏入股市,在你这里我想我应该可以学到一些东西.再次感谢你了!
May 23rd, 2007 at 12:29 pm
不用客气，慢慢学习，要有耐心。
May 23rd, 2007 at 1:05 pm
请问哦哦,如果我想投资国外的股市如美国股市,我是否需要开其他户口other than CDS? 请问我能通过什么管道开启这些户口呢?是否有那些股票行有提供此服务?谢谢!
May 23rd, 2007 at 1:15 pm
哦哦只知道OSK有提供买卖香港和新加坡的股票，并没有美国的。
也许有一些网上的美国公司有提供买卖美国股票的服务，不过哦哦个人觉得非常不可靠，毕竟那些公司并不在马来西亚。
谢谢。
May 23rd, 2007 at 5:38 pm
Jeff, 如果有兴趣可以用 http://www.tdameritrade.com/welcome1.html。但是你要把汇到美国的户口， 那是你的私人户口， 有利息的。每个交易US$9.99， 但马币的关系，我多年没有用了。
May 24th, 2007 at 2:25 am
谢谢还是大小孩和oo的意见。因为下个月到英国工作2年，所以考虑投资美国股市。当然，肯定不会错过哦哦理财！
May 24th, 2007 at 9:33 am
谢谢支持，希望你工作顺利。
June 1st, 2007 at 5:26 pm
各位朋友,最新的SPG已經出版了,昨天拿到書.
有興趣的朋友可以去大眾書局買,有20%折扣,才RM52而已.
June 1st, 2007 at 10:47 pm
谢谢你的通知，哦哦明天就去买一本。
June 4th, 2007 at 7:51 pm
oo, do you have any comment on recent accounting fraud in Transmile.
Being a investor, i’m feeling pretty worried the quality of accountancy in our country, and questioning the reliability of financial statements.
Before that, i was basically using ratio analysis to evaluate a stock.And now i really realized it may not be effective, making me a bit helpless as there is possibility for the mis-statement of financial statement.
We cant never know when a blue-chip company can suddenly be revealed for having fraud and so on. I’m really feeling pity for those who believe that “so called” blue-chip company and invested in it.
So,do you have any recommendation for me?
haha…thank you…
June 5th, 2007 at 11:05 am
不要因为一个坏的苹果而将整篮子的苹果丢掉！
哦哦觉得，在BursaMalaysia的管理下，大马的股市还是很健全的。
我们没有必要因为Transmile这件事而对马来西亚的上市公司失去信心；马来西亚还是有很多值得信赖和拥有卓越管理层的上市公司。
谢谢。
June 7th, 2007 at 10:08 pm
支持！越办越好
June 8th, 2007 at 5:31 pm
谢谢支持。
June 10th, 2007 at 1:25 pm
我以前在新加坡的时候(1996–1998),买了在新加坡上市的马来西亚公司股票叫”马玲珑”(英文名记不清了),金融危机后,听说该股票转到了马来西亚,但在网上查不到马来西亚股市,不知道哪位能帮我查一下,股价现在是多少,如何做交易卖掉(我的股票帐户是新加坡的)
June 10th, 2007 at 8:27 pm
如果哦哦没有猜错的话，你所提到的“马玲珑”，应该就是Renong，93和97年大牛市时，是很出名的公司。
之后97金融风暴，Renong出现很多问题，陷入困境，详情不太清楚。
后来和另外几间公司合并，重组，变成现在的DRB-HICOM。
谢谢。
June 11th, 2007 at 9:48 am
谢谢OO
June 19th, 2007 at 12:32 pm
oo 前辈，
请问如果到OSK开account买新加坡股票需要哪些手续与费用？谢谢。
June 19th, 2007 at 2:08 pm
如果你要买新加坡或者香港的股票，你应该只需要签多一张表格，表示你知道有关买卖外国股票的规则和条例等等，并且不需要任何手续费。
至于如何买卖和交易费用，哦哦就不大清楚了。
你可以打电话问问OSK。
谢谢。
June 19th, 2007 at 2:11 pm
oo 前辈，谢谢你！
June 19th, 2007 at 2:29 pm
不用客气，叫我哦哦就可以了。
June 20th, 2007 at 9:51 pm
Hi Sir,
I wish to ask you guys who are really experienced in reviewing the company annual reports. Im doing some research on some companies regarding their ROE, EPS Growth Rate, D/E to check their Intrinsic Value.However I face problems to trace this record from their annual reports. Is there any books that I can trace those records for most of the companies?
Or there is really no “short cut” but have to calculate manually?
If I really need to do the calculation base on the annual reports, is there any books that I can buy from the book shops to refer the formula on how to review the company’s annual reports?
Thanks advance for your advise.
June 20th, 2007 at 10:06 pm
Hi Sir,
1 more questions, is there anyone can give me some comments on PETRA?
thanks
June 21st, 2007 at 4:45 pm
There is a book — Stock Performance Guide, that you can buy from bookstore and it cost about RM60. It contains all the above information that you mentioned before.
Sorry, I have no time to check on PETRA recently.
Thank you.
June 21st, 2007 at 5:59 pm
thanks a lot Sir
June 22nd, 2007 at 3:41 pm
你好oo,我是一位出来社会做了两年工的打工一族， 看了你大部分的文章，很想了解多一点关于股票的基本知识，很多特别的名词都还不明白，比如说一股是多少,什么是lot,一粒是多少等等！最基础的知识。你是否已经发表过有关这方面的文章呢？还是你能告诉我哪里有这方面的资料吗？谢谢
June 22nd, 2007 at 8:54 pm
小弟想请教一下关于凭单， 我看到凭单会有以下几个项目
发行价 - 19。5仙
转换价 - 11令吉10仙
转换比例 - 10：1
问题是：
1。 什么是 转换价？为什么会高过发行价？
２。转换比例是怎样解释？
３。是不是届满期之后我们就拿回我们投资的钱？或是我们可以在届满期之前也可以卖出？
4。 凭单是属于投机吗？
请指教
June 23rd, 2007 at 3:47 pm
谢谢你的中庸和教导
June 24th, 2007 at 12:28 pm
sam，你好。
一股就是一share的意思，你报章上或网络上看到的股价，就是一股的价格。
但是，你是不能只买或者卖一股的某某公司股票。
每一次的交易（买或卖），都至少100股，这个是马来西亚交易所（BursaMalaysia）规定的。
1 Lot = 100 Share
1 粒 = 1,000 Share
哦哦暂时还没有发表过有关基本的股票知识，不过哦哦会考虑发表有关这方面的文章。
希望你明白。
June 24th, 2007 at 4:15 pm
New Comer，你好。
简单来说，凭单本身不代表公司的股份，它只是一张合约，说明在未来的一段时期内，你可以用某一个价格（转换价），转换成公司的股票。
1 - 发行价是凭单第一天公开买卖时候的价格。转换价就是你需要多付的价钱，才可以将凭单换成公司股票。
2 - 转换比例就是你需要用多少张凭单，才可以转换成一股的公司股票。你的例子，就需要10张凭单，才可以换到一股的股票。
3 - 届满期之前，你可以选择卖掉凭单，或者转换成公司股票；届满期之后，凭单就是等于废纸，没有价值！
还有一点，如果差不多要届满了，凭单的转换价还是高过市场上公司股票的价格（也就是说直接从股市中买入公司股票会更便宜），那么你就不可能那么傻去用凭单换公司股票，那么你的选择就只有卖出。
4 - 如果拿股票和凭单相比，凭单的投机成分较高。
哦哦的解释并不完整，你必须去阅读其他有关凭单的知识，才决定要不要买。
谢谢。
June 25th, 2007 at 5:46 pm
oo你好，谢谢你解释，想知道的都是些基本的知识。
接下来想再了解多一点的是关于买进某某公司的股票是否是如我接下来所说：
J公司今天的股价= rm 1.15
买一粒= rm1.15×1000 share(每次买最少过100share)
我需要用rm1150块钱才能买到J公司的1000 share对吗？
谢谢
June 26th, 2007 at 9:42 am
是的，你需要RM1150，再加上一些brokerage-fee和stamp-duty，一般上不会超过交易值的1%，也就是大约RM11左右。
希望你明白。
有什么问题可以继续在这里发问，哦哦会尽力解答。
June 26th, 2007 at 2:12 pm
oo你好，谢谢你解释，接下来的问题是如果要买和卖股票，必须到银行开个用来交易股票的户口对吗？还是需要到外面找一些专门帮人交易的股票的股票行呢？最低需要多少钱来开始呢？每次交易都要付的brokerage fee是否就是要付给那些帮忙交易的人的费用呢？
第一次来这个网站是由别的网站连接过来得,一读了里面的文章就爱上了,真的是一个很好的理财网站,里面的资料给了大家一个正确的理财观念.谢谢你oo
June 27th, 2007 at 11:01 am
其实银行或股票行，他们的收费都差不多一样。
开户口，就一定要开一个CDS（Central Depository System） Account，就是电子储存股票的户口，这是马来西亚政府规定的。
然后就是交易户口（Trading Account）：
- 你可以开Direct Account，所有的broker都有提供这种服务。你买了的股票将会放上你的大名，也就是说该公司会知道你是他们的股东之一。至于股息，公司会直接寄支票给你。如果公司要发附加股，凭单等，你需要自己去办手续（填表格，交支票等），全部要亲历亲为。
- 或者，你可以开Nominee Account，一般的银行都有提供这种服务。你买了的股票将会放上银行的名义，可是是benificial to你的大名，也就是说该公司并不知道你是他们的股东之一。至于股息，公司会寄钱给银行，然后银行转账进你的交易户口，不过银行会收一些费用（RM2左右）。如果公司要发附加股，凭单等，银行会帮你搞定，你只需要付少许的费用，不必亲历亲为。
Nominee Account还有一个好处，因为它是银行的服务之一，所以你可以直接从你的银行户口直接转帐进入你的交易户口，拿钱的时候也可以直接转帐进入你的银行户口，不过就需要签名。
不论是Direct Account或者是Nominee Account，你都可以从网上买卖股票，不过你要问清楚该银行或股票行，如何从网上进行买卖。
当然，如果你从网上买卖，因为不需要通过任何remisier，所以brokerage fee就便宜些，大约0.4%左右，如果你打电话给remisier，叫他帮你买卖，那么你就必须付比较高的brokerage fee，大约0.7%左右。
希望你可以明白，谢谢。
June 27th, 2007 at 5:30 pm
Thanks Sir,
谢谢你的解释关于凭单。最近小弟有看几间公司的财务报告，发觉名词 “freecashflow to capital” 。这是不是代表公司的现金流动？但奇怪得是差不多每间公司在大马的现金情况都是零或是negative. 甚至bluechips 也有这种情况？尤其是在2004年的时候。 那不就是大多数的公司都有现金流动问题？
June 28th, 2007 at 8:02 pm
free cash flow 就是净现金流，Investopedia有详细的解释。
净现金流 = Net Income + Amortization - Changes in Working Capital - Capital Expenditures
至于 free cash flow to capital，哦哦看了很多年报都没有看到。
不过哦哦猜想会不会就是（净现金流/资本）的比例，还是（净现金流/资本支出）的比例？
谢谢。
June 29th, 2007 at 6:11 pm
free cash flow to capital 就是从哦哦介绍给我的STOCK PERFORMANCE GUIDE 里找到的。
我就是奇怪为什么连一些bluechips也是NEGATIVE.
June 29th, 2007 at 9:51 pm
请问报章所说的拍卖银行呆账是会拍卖给谁呢？ 为什么“他们“会买呆账？ 呆账就是说讨不回来的钱，为什么会买回来？
不好意思，有时我想我的问题有些浅，但除了这个网站我不知道我可以问谁？
June 30th, 2007 at 2:55 pm
原来你是在STOCK PERFORMANCE GUIDE 里找到的，那本书前面几页有解释：
这就是哦哦之前说的：（净现金流/资本）的比例——该公司每一令吉的资本可以赚取多少现金回酬？
这个比例越高，就表示该公司能够更有效率的应用该公司的资本；如果这个比例低，就表示该公司需要很大的资本才可以赚取现金；如果是负数，那么该公司并没有现金流入，而是现金流出，迟早亏本！
对于不同的行业，需要的资本都不一样，所以这个比例只可以和同行业的公司相比。
希望你可以明白。
谢谢。
June 30th, 2007 at 3:01 pm
拍卖银行呆账，就是将呆账以一个非常便宜的价格卖出去，然后银行就不需要在为这笔呆账而操心了。
“他们”会买呆账，应该是希望买回来后，可以慢慢的去追回那些呆账，如果能追回部分呆账，可能还有得赚，只是不晓得是几年后的事了。
谢谢。
July 1st, 2007 at 4:38 pm
oo你好，我是股市新手。請問怎樣評估一家公司的股價是否高或低？ 請問有什麼方式可以計算？ 還有 price-book-ratio 是計算什麼？
謝謝。
July 1st, 2007 at 4:45 pm
請問怎樣計算 dividend yield?
謝謝。
July 2nd, 2007 at 10:20 pm
small yang，你好。
有些人用NTA（Net Tangible Asset）来看股票是否被低估或高估？
有些人用PE来看股票是否被低估或高估？
有些人用DY（Dividend Yield）来看股票是否被低估或高估？
有些人用其他的方法，有些人参参用，等等。
总结，哦哦觉得没有一个general的formula去算股票是否被低估或高估。
你必须了解公司的类型，然后再了解公司的财务报告表，才可以下决定，公司的股票是否被高估或低估。
谢谢，希望可以帮到你。
July 2nd, 2007 at 10:32 pm
Price Book Ratio，就是 Share Price / Book Value 的一个比例。
其实，你可以把book value当作是NTA，它们是一样的。
所以，如果一间公司的股价是6令吉，每股NTA是2令吉，那么Price Book Ratio就是3倍。
假如该公司的股价是1令吉，那么Price Book Ratio就是1/2倍，账面上看起来其股价是低估了。
可是值不值得买入，就要看你认为该公司未来是否能够赚取盈利，而且稳定的增加盈利？
毕竟最重要的，还是公司未来的赚钱能力，而不是公司的资产有多少。
Dididend Yield，就是周息率。
Dividend Yield = （每股的股息 / 股价） X 100%
只要一间公司的周息率高过定期存款，那么你把钱投资在该公司的股票上，所得到的回酬，是不是比把钱放在银行定存好呢？
谢谢。
July 4th, 2007 at 12:47 pm
请问OO,
我在前面的提问中看到有一个数据—股息3%
请问这3%是根据什么算出来的?
July 4th, 2007 at 6:04 pm
3%的股息，是由公司的管理层决定的。
怎么算？
如果公司决定派发3%的股息，那么每一股股票，就可以得到股票面值的3%。
所以如果该公司的股票面值是1令吉，那么每一股就可以分到0.03令吉，如果你有100股，就可以分到3令吉。
如果该公司的股票面值是0.5令吉，那么每一股就可以分到0.015令吉，如果你有100股，就可以分到1.5令吉。
可以明白吗？
谢谢。
July 4th, 2007 at 11:06 pm
Hi OO, just wondering why the company need to share split? What is the purpose?
Thanks.
July 5th, 2007 at 9:32 am
Share split will makes the share’s price drop, and the number of shares on market will increase.
With cheaper price and more number of shares on market, it will attract more people to trade and increase the turnover rate. Which might then stimulate the share price to increase.
This is just my opinion on share split. Any other comments on this?
Thank you.
July 5th, 2007 at 10:35 pm
明白了!!!!
谢谢OO!!
July 7th, 2007 at 3:36 pm
no comments. 谢谢OO!!
July 7th, 2007 at 10:28 pm
hi sir,
what is the meaning of the Entitlement Date and the EX Date?will the share price dropping after two share bonus 1 share?
July 8th, 2007 at 2:24 am
oo前辈你好，想要请教您关于私有化的问题， 请问上次synergy drive将kumpulan guthrie, sime darby, H&L 等公司合并的个案， 是否属于私有化呢？我个人理解是！ 因为私有化的模式包括：要约收购、吸收合并、净壳出让及 换股合并 （tender offer, cash-out merger, asset sale) , 对吗？ 可是，有一位前辈告诉我，merger 不是私有化，私有化是将上市公司除牌后， 公司还存在的，但是merger 是公司被合并， 并不存在了。到底， 私有化包括合并的公司吗？ N 年前I&P merger with Austral Enterprise 也是私有化吗？ 恳请哦哦授教。
July 8th, 2007 at 11:04 am
不论是Dividend或者是Bonus Share，都会有Entitlement Date和Ex Date。
如果在Entitlement Date那一天，你拥有该公司的股票，那么你就有资格获得Dividend或者Bonus Share。
记得，是要拥有该公司的股票，也就是你的CDS户口里面要有该公司的股票。
一般上在Bursa Malaysia股市里的买卖，都是T+3的，也就是你今天买了，3天后才拿到股票。
比如，你星期一买入某某股票，那么你要等到星期四，你才真正拥有某某股票。
所以，如果Entitlement Date是星期四，那么你最迟可以在星期一买入该股票，或者是Ex Date之前的一天，以获得Dividend或者Bonus Share。
而Ex Date，就是股价修正的一天。
比如，2 Share Bonus 1 Share，如果股价是RM3，你拥有200股；Bonus Share后，你就拥有200+100=300股，Ex Date当天，股价就会调整到RM2。
这样一来，之前你拥有股票的价值是 RM3 X 200 = RM600；之后你拥有股票的价值是 RM2 X 300 = RM600。
所以，有了股价的调整，这样在Ex Date之前买入，和之后买入，就没有什么分别了。
要不然，一定会有很多人抢着在Ex Date之前买入，对不对？这样的股市肯定不平衡！
所以，你在Ex Date之前买入，你就可以获得Dividend或者Bonus Share；如果在Ex Date之后买入，你就不能够获得Dividend或者Bonus Share了。
你也可以发现，因为Bursa Malaysia是实行T+3的制度，所以Ex Date一定是Entitlement Date的前两天。
希望你能够明白，谢谢。
July 8th, 2007 at 11:33 am
thank you sir!!
July 8th, 2007 at 11:35 am
hi sir,
can i sell all the share including bonus share after the entitlement date?
thanks.
July 8th, 2007 at 6:49 pm
是的，其实在Ex Date当天，你就可以卖掉包括你获得的Bonus Share的股票了。
谢谢。
July 8th, 2007 at 8:26 pm
关关雎鸠，你好。
那位前辈是对的，私有化和合并是完全不一样的东西，不能相提并论。
merger是合并，就是几间公司合并起来，一般上合并后都会用一个新的公司名字。
比如以前的Commerce Bank和Bumiputra Bank合并，合并后的公司名字就变成Bumiputra-Commerce Bank；而新的合并公司Bumiputra-Commerce Bank，还是属于一间上市公司，它并没有被私有化。
至于Kumpulan Guthrie，Sime Darby，H&L等公司的合并，就和以上的例子有些不一样。
它们是由一间叫Synergy Drive的私人公司，来收购（Acquire）它们的股票——就好像Synergy Drive吃掉Kumpulan Guthrie，Sime Darby，H&L等公司一样；吃掉以后当然就只剩下Synergy Drive，而Synergy Drive原本就是私人公司，所以以后Synergy Drive还是属于一间私人公司，一般人不能够在股市上买到该公司的股票。
私有化呢，就是某某公司的大股东决定将该公司完全占为己有，拿钱出来买下其余股东手上的公司股票。
私有化之后，该大股东就拥有了100%的公司股票，那么就没有另外的股票在股市上流通了，所以自然而然就没有在股市上交易了。
那么公司呢，还是一样存在的，名字还是一样，只是一般人不能够从股市上买入该公司的股票罢了。
谢谢。
July 8th, 2007 at 10:50 pm
哦， 原来如此， 多谢=）
July 12th, 2007 at 1:31 pm
请问oo如果一间公司把它的股价split,那我们是不是也要把它的EPS也分成2来计算它的PE?
1. 1 SPLIT 2, EPS 也分成2？
2. 1 配 2 RIGHT ISSUES, EPS 分成3?
那如果是配红股，也是这样去分吗？
July 12th, 2007 at 9:20 pm
New Comer，你的想法是对的！
1. 1 SPLIT 2，股票的数目多了一倍，可是公司的总盈余还是一样，所以EPS就的分成2。
2. 1 配 2 RIGHT ISSUES，股票的数目多了两倍，可是公司的总盈余还是一样，所以EPS就的分成3。
没错。
July 13th, 2007 at 1:39 am
oo前辈你好！
第一次搜寻到你的网站看了觉得很不错也蛮吸引的在里面了解到一些些知识，我找了一段时间终于让我找到关于马来西亚股市的论坛，而且还是已中文为主的对于学历不高的我非常的好，希望你能做的更好。支持！加油！
小弟对股票还是个菜鸟看了些你的文章很多一些理论方式研究都不是非常明白，而且小弟学历也不高中学都没毕业英文可说是非常的烂，所以在看有些公司的报告可以说是完全看不明白，在股市里股票上千种在选股方面我真的不知要如何选择评估分析哪一间公司是好公司，也不知要从和开始如何看是买进好时机好价位和卖出时机与价位。
在2000零出年吧（不太记得零几年了）我第一次进场，当时对股票更是白吃一个也只是听朋友说自己也想尝试一下赚点钱（当时那只股票当天从RM0.60跌到RM0.30所以就买进看看），结果买的股票都赔光光了，因为公司到最后都倒了，过后我就从没再买股票了，直到前几天小弟又尝试买了些股票也不知好不好也是朋友和我说的消息，希望不会又撞墙。哈哈！
本人这一两年来经济也不是很不好，小弟也有投资些生意，可是行情不是很好有时也会亏钱，所以也想投资些股票赚些钱。
小弟真的很想能在股票里赚到钱，当然更希望以后能有很好的退休生活，希望前辈能指点指点。
谢谢！
July 14th, 2007 at 2:52 pm
谢谢菜鸟的支持。
哦哦并不是什么前辈，只是对股票有兴趣，又懂得IT，所以就搞了一个哦哦理财网站，主要是收集有关理财和股票的文章。
其实天下没有免费的午餐，想要在股市中友好的成绩，当然就要努力去学习，去体验。
还有，不要听信别人所谓的“Tips”。
就算真的要买，至少也要了解一下公司是做什么行业的？有没有赚钱？有没有派股息？
就从这3个问题开始吧！
谢谢。
July 14th, 2007 at 6:38 pm
如果我有想买的股票能请教oo吗？顺道教教我怎么分析如何看报告等等可以吗？
谢谢！
July 14th, 2007 at 9:15 pm
如果哦哦有时间的话，哦哦会尽量回答你的问题。
你可以继续在这里发问问题。
谢谢你的支持。
July 14th, 2007 at 10:25 pm
请问oo有什么网站能看这几天，这几个月或这几年的股市记录呢？和某某公司历来的记录。
谢谢!
July 15th, 2007 at 2:08 am
请教oo：
我今天试看看了一家公司的报告（insas bhd），我找到了EPS是要看Basic的价钱还是Diluted的价钱？至于NTA我就没看到不知在哪里？希望oo不会嫌我这个菜鸟烦问那么多问题什么都不会，打扰了。呵呵！
谢谢！
July 15th, 2007 at 2:29 am
有的连EPS都没看到。英文对我来说也是个大问题都看没懂真悲哀！
最近买了些oilcorp oo能给些意见吗？
谢谢!
July 18th, 2007 at 3:36 pm
嗯，哦哦只知道以下这两个而已。
The Star
Bursa Malaysia
如果要看财经，可以看看 Business Times
不过这些网站都是英文的，谢谢。
July 18th, 2007 at 3:41 pm
主要是看Basic EPS的。
Diluted EPS是，经过调整后的EPS。
调整什么呢？主要是因为派发股息或者ESOS（公司内部人员选择性以某一个股价购买公司股票）之后，公司的EPS当然就少了，所以就需要调整。
看看这里。
这是Insas截至30/6/2007的年报，你在下面就可以看到有一栏：Net assets per share attributable to ordinary equity holders of the parent (RM)。
那个就是公司目前的NTA了。
谢谢。
July 18th, 2007 at 3:47 pm
对不起，哦哦对Oilcorp没有研究，所以不敢乱乱评语。
希望菜鸟可以明白。
July 20th, 2007 at 9:26 pm
我想现在买进megan现在RM0.04，不知oo有什么见解吗？
谢谢！
July 21st, 2007 at 3:30 am
OO前輩你好:
前輩你確是一個股壇良師,相信很多网友得益不小,現請問大众銀行,馬來銀行及雲頂集團三間公司可否做個長線投資,本人對馬股不是很熟悉,不過相信銀行為百業之母,雲頂將在獅城與金沙爭霸,東南亞與東協前境無限,因此投問一下,謝謝!!!
July 21st, 2007 at 11:11 am
去年尾买了12 lot KENCANA (EACH RM0.95),愚蠢的在新年股灾时以 RM1.08 卖了， 现在已经接近 RM3. 只怪自己没有坚持之前所设下的RM3 的目标. 忠告大家要坚持于自己所订下的目标, 还是那四个字 “坚持到底”
July 22nd, 2007 at 10:40 pm
听说KENCANA今年目标要上到RM3.50，我也后悔当初没买，结果一直看着他上不敢进场了。
July 22nd, 2007 at 11:23 pm
还是放弃吧， 倒不如留意其他还 UNDERVALUE 的股票， 那有早知， 有的话就没穷人了。 或者可以把目标放在 这星期四的 PETRA ENERGY. 可以长线投资。
July 22nd, 2007 at 11:31 pm
GUH (3247) 不妨留意它。 不妨一买。
July 23rd, 2007 at 11:03 am
菜鸟，你好。
Megan有那么多的债务，而且公司已经没有赚钱了，所以哦哦觉得不能再投资了。
谢谢。
July 23rd, 2007 at 11:14 am
醉翁之酒，谢谢你的支持。
其实如果打算做长线投资，这3间公司都很好！
大众银行积极发展香港和Indo-China的市场，业绩持续成长，平均年增长15%，而且股息不错，所以将会是哦哦的首选。
云顶虽然没有什么股息，但是云顶踏足英国，澳门，还有新加坡；开赌场的，赚钱是迟早的事，所以长期也是非常看好的。
至于马来亚银行，股市中的龙头，这几年来都没有什么并购的消息，业绩也普普通通；但是该公司的股息向来都不错，所以长期买来收股息也是不错的。
谢谢。
July 23rd, 2007 at 1:23 pm
OO你好,
I just wondering how to classified the 二三線股, is it based on the market cap of the company?
Thanks 谢谢。
July 23rd, 2007 at 1:37 pm
哦哦从google找到的资料如下：
希望你可以明白，谢谢。
July 24th, 2007 at 9:02 pm
请问身在大马的我们， 可不可以投资美国股市呢？有哪家股票行或银行提供网上投资美股吗？ 谢谢。
July 26th, 2007 at 10:58 am
嗯，哦哦知道如果要投资美国的股市，可以通过网上的外国Online Broker买卖美国股市的股票。
可是他们在马来西亚并没有公司，因此要特别小心。
至于有没有马来西亚的公司提供买卖美国股票的服务，哦哦所知道的是没有，就算有也是提供给基金和大机构的。
谢谢。
July 27th, 2007 at 11:27 pm
前辈，
相信你也看了这两天的新闻，随着美国股市波动，马股也深受其害。
请问前辈会如何应对？
从林区的书中，相信大部分股友都会抛售，因为周末得空，想太多。
我目前持有100%股票，还在考虑是否要卖掉50%。
请给点意见，谢了。
July 28th, 2007 at 5:45 pm
其实股市会上还是会跌，没有人可以预测，但是如果你有看林区的书，林区的决定一定是将100%的资金留在股市中。
将钱长期留在股市中，就有很大的机会开番，所以哦哦还是不会卖出手中的股票的。
July 29th, 2007 at 2:11 am
前辈，我买的其实是FOCUS，其实在klse的网站已经看完了所有有关这个WR的announcement和附件，但都是看不出要不要调整母股除权价。前辈如果有空的话，可以帮我看一下，和教我以后怎么看好吗？谢谢了。
July 29th, 2007 at 9:36 pm
前辈, 我在以下网址找到从1993年自今KLSE的指数。还有volume.
http://finance.yahoo.com/q/hp?s=%5EKLSE
但是里头的volume即不是交易量，也不是交易额。（我是以它和BSKL最新的交易量和交易额作比较）。真奇怪，前辈请指教里头的volume是指什么？谢谢！
August 2nd, 2007 at 1:24 pm
ck，你好。
有关FOCUS凭单的新闻终于出了，请看看31/07/2007的annoucements，里面的文件的最后一段：
也就是说，如果公司调整股本，比如拆细股票面值，凭单的价格也会跟着调整；但是，不包括分股息。
谢谢。
August 2nd, 2007 at 1:30 pm
win，你好。
哦哦猜想，Yahoo里头的Volume会不会只是Composite Index里100只股票的volume呢？
volume就是股票交易的数量，比如某某人成功以每股RM10买入了100股大众银行的股票，那么volume就是100，value就是RM10 X 100 = RM1,000。
谢谢。
August 6th, 2007 at 8:24 pm
你好 , oo ! 这是我看过最好的股票理财网站 !! 本人一直对理财很感兴趣，也很认同理财在人生中的重要 !! 本人20岁的时候曾”投资”期货，而一个月间亏了S$10000 。七年后的今天，开始认真学习投资，希望从新出发 !!
希望以后可以多多指教。想请问 oo 是否有讨论关于基金理财?? 因为本人三个月前开始以基金学习理财，然后再学以股票理财，希望将来可以多向你学习，谢谢。
August 7th, 2007 at 2:58 pm
首先，谢谢你的支持！
哦哦本身并没有投资基金的经验，也不打算投资基金，所以应该不会特地写（没有经验去写）一些有关基金的文章。
谢谢，也希望你得空的时候来这里分享你的经验。
August 17th, 2007 at 7:20 pm
i want ask (WA) is what, can buy? easy sale out? can teach me>?
pls reply chinese words 4 me, thanks
August 17th, 2007 at 8:44 pm
今天是我最辛苦的一天……….马股一度跌60点.我手中的股票一度铁25%.情况很不明朗.现在不知卖还是守.请问大家的意见如何?谢谢.
August 18th, 2007 at 2:02 pm
羽, 股價下跌絕對不是你買股票的理由! 當那麼多股票都暴跌, 我覺得情緒影響的因素蠻大的, 不要受自己情緒影響, 再看看自己的功課, 這樣的價錢值得買給人家嗎?
(我也在提醒自己!)
August 19th, 2007 at 12:03 pm
WA就是warrant的意思，就是凭单。
简单来说，凭单本身不代表公司的股份，它只是一张合约，说明在未来的一段时期内，你可以用某一个价格（转换价），转换成公司的股票。
1 - 发行价是凭单第一天公开买卖时候的价格。转换价就是你需要多付的价钱，才可以将凭单换成公司股票。
2 - 转换比例就是你需要用多少张凭单，才可以转换成一股的公司股票。你的例子，就需要10张凭单，才可以换到一股的股票。
3 - 届满期之前，你可以选择卖掉凭单，或者转换成公司股票；届满期之后，凭单就是等于废纸，没有价值！
还有一点，如果差不多要届满了，凭单的转换价还是高过市场上公司股票的价格（也就是说直接从股市中买入公司股票会更便宜），那么你就不可能那么傻去用凭单换公司股票，那么你的选择就只有卖出。
4 - 如果拿股票和凭单相比，凭单的投机成分较高。
哦哦的解释并不完整，你必须去阅读其他有关凭单的知识，才决定要不要买。
谢谢。
August 19th, 2007 at 12:10 pm
是的，股价下跌绝对不是卖出股票的理由！
最近全球的股市都因为美国股市下挫，而跟着下挫。
哦哦没有卖出，也没有买进，因为哦哦真的不晓得股灾是否会来临，或者股市继续上扬？
哦哦也不打算去预测，所以哦哦暂时是按兵不动。
就算股灾真的来临，哦哦也对自己的公司有信心，所以哦哦不会卖出。
问题只是，现在可不可以再加码呢？
就像股市新手的想法一样，如果可以用一个更便宜的价格买入你想要的公司，值得吗？
如果值得，就继续加码，如果你觉得还是有点贵，那么就再等等。
就这样简单，谢谢。
August 19th, 2007 at 11:28 pm
留的青山在不怕没材烧.可是我担心青山以城平地.钱经被掏牢,每多余的钱再买,当公司股价低的时候.
August 20th, 2007 at 10:32 am
说虽如此，但是我们往往很难知道几时是股市最低点。
所以只要我们对公司有信心，就应该长期持有！
而如果股市下跌到某一个阶段（你认为股价便宜的阶段），重点是如果公司的基本面没有变，那么你就应该加码。
谢谢。
August 20th, 2007 at 10:50 am
谢谢赐教.
August 20th, 2007 at 11:07 am
不用客气，大家互相学习。
August 22nd, 2007 at 9:02 am
oo前辈你好。我想请问如果是以现金投资股票，再怎么亏，是不是不用拿钱去贴？顶多输本钱？（我还年轻，懂得不多。）
August 22nd, 2007 at 9:10 am
是的，如果你是用自己的现金（cash）去买股票，最多是亏到完，不用再拿钱出来贴。
比如：你用RM900去买了100股的大众银行股票，你最大的亏损就是RM900！
谢谢。
August 22nd, 2007 at 8:52 pm
如何计算一间公司处在undervalue股价？
一间公司的股价为什么会overvalue或undervalue?
谢谢哦哦!
你的网站真的让我这菜鸟获益良多!!
August 23rd, 2007 at 3:16 am
OO 你好。最近閲讀很多關於投資的資訊，很想在大馬股市做點投資，請多多指教。如想作長綫投資，你覺得馬資源與Airasia如何？前者目前2.39，你覺得什麽价位適合買入？後者值得投資嗎？你認爲馬股市近期還會有另一論波動嗎？
August 23rd, 2007 at 11:13 pm
oo，你好！我是一个新手，呵呵，目前资金很少，只是摸索、学习中，还不敢大规模进入市场，看了这个网站对我启发很大，有了一点点头绪。呵呵。另外我想找one up on wall street，和 Beating the Street的英文版，不知道你有没有，谢谢！
August 24th, 2007 at 11:38 am
好网站，希望您越办越好！
August 27th, 2007 at 12:37 pm
翱翔，你好。
有些人用NTA（Net Tangible Asset）来看股票是否被低估或高估？
有些人用PE来看股票是否被低估或高估？
有些人用DY（Dividend Yield）来看股票是否被低估或高估？
有些人用其他的方法，有些人参参用，等等。
总结，哦哦觉得没有一个general的formula去算股票是否被低估或高估。
你必须了解公司的类型，然后再了解公司的财务报告表，才可以下决定，公司的股票是否被高估或低估。
谢谢，希望可以帮到你。
August 27th, 2007 at 12:42 pm
cssheh，哦哦目前没有留意马资源和AirAsia，所以无法给评语。
不过哦哦知道AirAsia的市盈率相当高的。虽然多数人都看好廉价航空的前景，认为可以继续快速增长下去；但是以目前比较高的市盈率来投资，风险会比较高。
riverside66，这两本书在MPH，大众书局，或者Konokuniya应该都买得到。
谢谢大家的支持！
August 30th, 2007 at 2:17 am
想请问”纸上亏损” ，如果不卖的话就永远不算是亏损吗? 那如果跌到停板呢? 我听说买股票有所谓的”补仓” ? 什么是”补仓” ? 如果现金不充足就不能买股票吗? 是否意思说如果股票跌到一定的价位投资人就要补进一定的现金才不会亏钱??
时常听人说 : “烧到手 “。 意思是否是把那些 ” 纸上亏损 “严重的股票卖了??
还有在什么情况下要贴钱?? 不好意思。。。。 新手。
August 30th, 2007 at 5:01 pm
不卖不算是亏损，如果跌停板，也还有一个股价，所以只要你没有卖，你还不算亏损。
但是，如果公司倒闭，或股票被除牌，那么你手头上的股票就等于是废纸了，那时候你已经是亏到完了。
现金不足，还是可以买股票的，就是用“margin”——按金户口。
至于“补仓”，请看看这篇文章：按金户口：刀是两面利
“烧到手”就是亏钱的意思，通常是高价买入，然后就一直看着股价往下跌，最后很失望的以一个底价卖出去。
你要贴钱是当你玩“margin”的时候，请看看以上的：按金户口：刀是两面利
谢谢。
August 30th, 2007 at 5:03 pm
What is “put option deal”?
September 2nd, 2007 at 7:59 pm
Here is some information about “Put Option”.
Thank you.
September 4th, 2007 at 8:41 am
oo, 你好!
在cash flow那邊的inventories是甚麼意思? 如果出現負數又代表甚麼呢?
謝謝!
September 4th, 2007 at 1:40 pm
Inventories就是存货。
Inventories一般上是不会出现负数的，有没有特别的notes解释为何会如此呢？
哦哦也很想知道，谢谢。
September 4th, 2007 at 11:09 pm
謝謝你的回答!
我看了一遍,沒有發現解釋,不過我的英文不大好,可能不懂怎麼看!
我看的是PERSTIM(5436)的今年第一季度(六月)的財務報告, cash flow那邊的inventories的確出現負數!你需要我把報告e-mel給你嗎?
想問oo,Inventories也算是現金嗎?如果要算每股的現金多少,是否可以把Inventories算進去?
September 6th, 2007 at 9:55 am
Inventories是存货，包括原料和制成品，但是不包括现金。
对不起，之前哦哦看错了，你说的是在Cash Flow Statement里面的Inventories，所以出现负数是很平常的。
因为那里的标题是Changes in Working Capital，所以以下的Inventories的意思：就是之前一季和最新一季相比，Inventories是多了，还是少了？
从Balance Sheet，你可以找出之前一季和最新一季的Inventories。
之前一季的Inventories：132,400
最新一季的Inventories：152,095
所以相差：（19,695）
希望你可以明白，谢谢。
September 6th, 2007 at 4:41 pm
前辈！听說大眾銀行的彪哥跟懂事們為了投資國外的事大吵一番來，到底發生什麼事就不清楚了。如果彪哥一氣之下不玩真的跟豐隆銀行合屏的話對我們這些散戶有何影響呢？
September 7th, 2007 at 9:50 am
哇，你这消息那里的来？
不过如果大众银行和丰隆银行合并，到时候它可能成为全马最大的本地银行，哦哦相信大马政府不会允许。
另外，标叔做生意的名声那么好，哦哦相信他一定会照顾到股东的利益，就算真的要合并，也不会让股东们吃亏。
谢谢。
September 19th, 2007 at 12:28 pm
我应该到那里找到一间公司新上司或warrant要挂牌或停止交易等资料.
谢谢!!
September 21st, 2007 at 10:49 am
可以到BursaMalaysia网站的annoucements看看。
谢谢。
October 13th, 2007 at 12:16 am
hk warrant的premium计算，是计算来做什么的？
好像很重要？
premium又是什么？
premium计算法里的underlying security price是什么？
October 14th, 2007 at 8:46 am
哦哦对warrant的研究不深，不过哦哦找到以下的资料，希望对你有帮助。
Investopedia
Finance Glossary
简单举个例子来说：假如你可以直接从市场上买入RM8的云顶股票；而目前云顶的warrant却卖RM2，转换价为RM7。
那么，如果你买入云顶的warrant然后转换去云顶的股票，你需要花RM2 + RM7 = RM9。
这比市场买入的贵，你这多付的RM1，就是premium。
当然，不会有人这么傻，去买云顶的warrant然后转换去云顶的股票。
所以你可以理解，买warrant的人，主要都是投机。
谢谢。
October 17th, 2007 at 7:23 pm
哦哦,我最近在学算ROE 和 PE。。。
想问问 在 GAMUDA 31/07/2006 的报告， EPS=22.39， 而31/07/2006 的价钱是3.31， 那PE 是不是22.39/3.31 = 0.15？
如果是这样算的话，那GAMUDA的股不就很便宜?
October 17th, 2007 at 8:52 pm
你是不是写错呢？你应该是想说 3.31 / 22.39 吧？
哦哦相信报告里的EPS应该是22.39sen，也就是RM0.2239。
所以PE应该就是 3.31 / 0.2239 = 15 倍，不算低，也不算太高。
谢谢。
October 18th, 2007 at 6:09 pm
哦哦, 謝謝。
是我大意算錯了，難怪覺得奇怪。
谢谢。
October 18th, 2007 at 6:18 pm
OO 你好!
非常侥幸能找到你的网站并希望你能指点迷津.
想请问你认为KELADI的前景如何?是否该持续拥有或马上卖掉?
我是在它Share Split 后的15/08/07买入的.买时的股价是RM0.40,(我算不算是在最高峰买?) 到今天为止巳下跌到RM0.24….心每天都在淌血…(跌了RM0.16..似乎还有往下跌的倾象)
原以为做足功课,即选择产业股和阅读报章时说此公司这几年来都有赚钱并打算要在巴生谷一带发展高尚住宅区.
我的一个朋友说就算公司赚钱,但如果股票没有人买,这公司的股价也不会升高.若还持有这公司的股,也只有坐以待毙.这是真的吗?
October 22nd, 2007 at 1:44 am
to jade,
i help you done some research already. i will post all of my works on monday. hope you come back here at 22 nd october. at the moment, keladi still a profitable company. it should be fine. but of coz, this will only been found out after going through all the pass years reports and look in their future prospectus. I will try my best. just be patient to hold them 1st.
good luck!
October 22nd, 2007 at 5:10 pm
KELADI 6769
CURRENT PRICE 0.24 12 75831000 758310000 AVERAGE
2003 2004 2005 2006 2007 2008
EPS 0.09 0.13 0.15 0.15 0.19 0.03 0.12
EPS growing rate 0.44 0.16 0.04 0.25 0.58 0.29
NTA 1.83 1.94 2.08 1.88 1.97 0.20 1.65
ROE 0.05 0.07 0.07 0.08 0.10 0.17 0.09
dividend 0.04 0.00 0.50 0.15 0.15 0.17
EQUITY 137,812,000 145,200,000 156,261,000 140,511,000 146,737,000 171,818,000
total asset 176,573,240 170,365,267 184,459,000
total liabilities 34,100,027 21,097,575 12,641,000
ROA 0.07 0.08 0.14
equity/liabilities 4.12 6.96 13.59
net cash fr operating 24176328 8674472 15814153 17073785 5957906
net cash fr investing 310590 1614581 (8715257) 636305 (450966)
free cash flow 10289053 7098896 17710090 5506940
free cashflow/share 0.32 0.14 0.09 0.23 0.07 0.17
cash in hand 29061929 37116245 43247093 33586023 30830215
October 22nd, 2007 at 5:17 pm
NOTES
PERCENTAGE PROFIT MARGIN PROFIT
TOTAL REVENUE 08 RM44,936,000 100.00% RM19,143,960
OIL RM5,702,000 12.69% 70% RM3,991,400
PROPERTY RM37,646,000 83.78% 36% RM13,552,560
RENTAL RM1,600,000 4% 100% RM1,600,000
October 22nd, 2007 at 5:19 pm
sorry, has to go out. reply you about the analysis at 1030pm later. please go through the figures 1st. thanks. poor market today, hope you didn’t sell your keladi, i just buy in RM0.24@10000 units today. they are really worth for invest. c u later.
October 22nd, 2007 at 5:40 pm
Tan81,
Really really really appreciate what you have done.
I almost sold Keladi in the morning. I have called my remisier to sell and he said I have to wait as nobody wants to buy at that moment.
Luckily, I checked mail at the right time and saw your message so I immediately inform my remisier not to sell it.好险!
I m still keeping it.
I will print out all figures and go through it….Hope to read your analysis soon because I still dont know how to justify by seeing the figures.
Thank you very much!
October 22nd, 2007 at 6:23 pm
ok, i back already. generally, keladi has high EPS growth, 0.29 (average) and ROE is 0.09. this year is expected to hit on 0.17. it seems the management improve a lots.
my study is based on peter lynx theory.
but attracting point is keladi has a wisma in kedah, earning RM1.6 million every year for rental, this is passive income, contribute to its current FY, 4% of profit.
second point is keladi is planning to increase its biz margin in oil palm (great news). from current FY report, oil palm profit margin is 70% and property is 35%. so, oil palm is more profitable. currently, its revenue consists of 12% oil palm and 80% of property. anyway, from the past 3 years, they increase their margin in oil palm gradually and apply some land switch from property to plantation.if you study their revenue, revenue drops but net profit increase coz the oil palm margin is higher.
3rd point is keladi consider as “cyclic”, now is good time for property but maybe end in next two years. oil palm is different, i think oil demand will increase for at least another 5 years,due to crude oil price, weather change and population growth, shortage of land.
October 22nd, 2007 at 6:32 pm
4th point, keladi core biz at Kulim,kedah. this help them with a unique market segment. i hope they do not come to KL, coz Klang valley is competative. Klang valley property company will never develop to kedah.so, keladi is monopoly there. if there is competitor go to kedah, they also have to buy land from keladi and joint venture with them.
5th point, keladi is having cash in hand nearly to RM30million and no long term debts. means they are net cash company. cash in hand per share is RM0.06 (after splits).you buy one unit and get rebate of cash up to RM0.06 per unit.
6th point, do not take figure from star online,they make mistake for keladi 1st Q result, it should be RM0.0046 and 2nd Q result is RM0.012. which mean recorded very well growing this year. half of EPS current FY is equal to
last year EPS already. they earn double times this year!
October 22nd, 2007 at 6:40 pm
May I know how do you get all these figures in such a short time? and where did you find all these information? I have been doing some research about Keladi, but I m not able to gather all these information like you did.
Secondly, since you have bought 10,000 @RM0.24, how long do you think you want to keep it?
If you were me in my situation, I bought 7000@RM0.40, would you buy more?
Hope to hear your good sharing again. Thanks
October 22nd, 2007 at 6:42 pm
7th point, keladi only buy land for investing every 2-3 years. they operating profit is very stable, so, they enjoy net free cash flow every year.min is RM0.07 and max is RM0.32 per share.
finally, all about the price and figures. this year EPS is expected at RM0.03. buying price at RM0.24, PE is 7 (very low if compare to EPS growth 0.29). but after deduct EPS this year and cash in hand, actual PE is 4.31 !!!! their dividend is RM0.015 per share.
in addition, there is no fund manager invest and hold their share! coz keladi is a small local company at kedah.
To jade, your buying price is RM0.40. PE is 11.76, actual PE is 9.02.
October 22nd, 2007 at 6:44 pm
by the way, i am engineer and never study fincance and accounting before. hope some frens here can help me to correct my mistake and buying keladi to keep if you think this is worth!
Good luck!
October 22nd, 2007 at 6:51 pm
jade, all the information is from financial report, can get from bursa website announcement. if you read the whole notes, you will see this info. i suggest you to buy more to lower your cost if you agree this is valuable.
KLCI PE now is 14-15 times. when bulling market come, PE is 18-22 times. if keladi that time is 15 times, price is RM0.60. if keladi go to PE=20 times, price will be RM0.80.
you can set a PE to sell, easier than just look at the price change.
share with me more. thanks and good luck!
October 22nd, 2007 at 7:23 pm
You seems to know a lot in share. How long have you been investing?
Why do you say looking at PE is easier than looking at the share price?
You mentioned that when I bought Keladi at RM0.40. PE is 11.76, actual PE is 9.02. How do you calculate this PE and why there is PE and actual PE?
How do you calculate KLCI PE? 14-15times, means it is high or low?
“when bulling market come, PE is 18-22 times. if keladi that time is 15 times, price is RM0.60. if keladi go to PE=20 times, price will be RM0.80. ” This is your assumption or you calculate it out by using formula?
Hope you can explain more………really appreciate your generous sharing….
October 22nd, 2007 at 8:09 pm
One of the reason, I intended to sell off Keladi this morning was due to a chart that showing to me by a friend yesterday.
He is using some australian software to show the performance chart of Keladi for the past 10 years. ( Subscription fee for the software is RM1000++ a year) I roughly remember he said the lowest share price of Keladi previously went down to RM0.16( Cant remember which year). It is possible this time, it can go lower than RM0.16. And he told me in order for the share price to go up, it requires some big volume of selling and buying. Otherwise, the share price can be stagnant for sometimes.
Is it true that, the rising of share price has something to do with people buying and selling of shares?
I realised there are three types of investors.(after reading one of the articles here). 有消息派，图表派，基本派.
Those people who study PE, EPS, NTA, company financial report should be 基本派(Warren Buffet is in this catergory?) My friend should be 图表派 since he show me all the chart and I m currently 消息派 hope to learn more and upgrade myself in to the correct 派.
Hope to hear more opinions from everyone. Thanks!
Thank you.
October 22nd, 2007 at 9:25 pm
短期来说，股价的上下是受人们买卖的影响；但是长期来讲，股价的上下是因为公司的价值。
哦哦非常开心看到你们的讨论，哦哦认为KLSE.8K讲得没错：投资股票，应该用基本派的方法，图表只是辅助！
还有一点，北部的经济走廊，Keladi有获得什么益处吗？
谢谢。
October 23rd, 2007 at 2:08 am
To oo, thanks for building this forum and let me read Peter Lynx. He give me a direction and make change in my way of investment. 北部的经济走廊, no idea for the benefits to keladi. but, there are some multinational industry at Kulim, like Intel. http://www.khtp.com.my/article/default.asp?ArtID=1
Anyway, i hope keladi keep on focus their biz in oil palm, not land development, in order to balance their risk before the property downturn.
October 23rd, 2007 at 2:21 am
Jade, try my best to answer all the question and hope to see u always here.
I start to invest in share start from 19yrs. quit from share market at 23yrs. these 3 years, i am doing my own business. currently, i am 26.
i just like you, starting as 消息派. I have seen 3 times market down turn in the 4 years, include Nasdaq bubble and 911, which was terrified and cost me a lots. Luckily, i didn’t lose all the money and still keep on buying. But, i have shifted my options from 消息 to some company with good fundamentals.
I did earn some money in YTL power and AZRB, AZRB still at 2nd board that time. I sold them after YTL power purchase wessex and AZRB deliver bonus and upgrade to main board. that was around in 2001 and 2002. After that, i spotted public bank and receive bonus too. i did sell public bank and buy back again. i think i have been selling and buying public bank more than 4 times. What made me excited was ytl-e. This is the only share UP until suspended when they announce to split in 2003 bull time. I sold all my share when Pak Lah become PM, only keep 25 units Public bank (from bonus) and receving RM6-7 dividend every year. haha….
October 23rd, 2007 at 2:31 am
after 2004, i didn’t buy any share and starting my business. Recently (sep 07), i just start to think of getting back to invest in KLSE. It is my fortune to find oo forum. i gone through every message and know about klse.8k, peter lynx and my old idol (冷眼). i spend some time in reading peter lynx book.
It help me to get my target and direction which is 基本派.
I am not saying that tech gang can’t earn money. But, try to look at warren buffet and peter lynx, who can beat wallstreet all the time, they emphasis about fundamentals study. when i was young, i also 消息派. i lucky enough to earn money because i invest in those great fundamental companies. be honestly, i didn’t know how to read financial report that time.
So, i start to look at many companies and select those company suitable for my risk and requirements. keladi is out of expectation. I have to say thanks to you , coz giving me such a fantastic chance.
maybe you just curios about how to learn fundamentals in short time. actually not very difficult. go to look for your accounting fren and ask them (that what i did) and play “cash flow” by rich dad, robert kiyosaki.
October 23rd, 2007 at 2:45 am
back to keladi research. share price is changing all the time, PE is telling you the price for the value. low PE means valuable things, high PE means more expensive in price than value.example, i bought in RM0.24, you bought in RM0.40. we are having same value things (keladi share), but the price we paid is different. Looking at PE, you will know the ratio between the price and value.
PE=price/EPS
My actual PE is “price after deduct EPS this year and cash in hand”.
there is always no high and low in market, coz you never know the max and min point in share market. So, the only thing is refer to history. KLCI PE is in newspaper or asking remindser. currently is 14-15. Not really bull or bear.
The bulling PE is from history, but future can change like china can go to PE=40-50 times.so, no answer for that. keladi PE is assumption. If you think keladi PE=15 is expensive, sell it at RM0.60. If you think that PE=20 is expensive, sell it at RM0.80. there is no good timing for buying and selling. only buy it when it is worth and sell it when it is overpriced.
your fren’s opinions in certain are correct but sometime it can goes wrong.
please look at this.
October 23rd, 2007 at 2:53 am
this is shell for 8 years price history. If you buy shell at 2002 april at RM4. Are you going to sell it at 2003 feb at RM2 ? now, of coz you say no, coz currently shell is RM11.30!!! the share price is reflected on growing of the company. but we only know this after it happens. We are not saint!
I have no idea when the investors will buy keladi. but when many people looking for keladi, and it is over price, it is the time we sell to them.
all this seems simple, but not easy to accomplish. if you can do, there is rewards for you. there is always no free lunch in the world.
Anyway, i still hope more people to study this report and give me opinions. i am not expert in accounting. i do not mind if you share this research with frens and internet, as long as you let me know the mistake and feedback. thanks to jade !!!
October 23rd, 2007 at 3:18 am
keladi link to their price history chart
October 23rd, 2007 at 12:52 pm
oo你可以帮我check pantech的EPSandNTA吗？ 我在算它的ROE。
它的EPS是6.56? 我觉得这个数目有点奇怪。
它的NTA我不知道在哪里， 请你帮我看看！谢谢！
October 23rd, 2007 at 3:21 pm
EPS of Pantech is RM0.22 in 2006. NTA is RM0.79.
ROE is 0.22/0.79=0.28.
1st quater in 2007, pantech EPS is RM0.05. NTA is RM0.84.
assume that the others quater, pantech earn same amount,
EPS for the year is RM0.20. ROE=0.20/0.84= 0.25.
October 23rd, 2007 at 4:59 pm
Thx tan81, May I know EPS 0.05 and NTA 0.84 u got it from which part? List out how u count it if u can. Thx !
October 23rd, 2007 at 7:04 pm
to subsub, the EPS and NTA is from 1st quater annual report ( from bursa website). my advice is try to print out, easier for your search.
already provide the calculation. sorry for if you still can’t get.
October 23rd, 2007 at 7:54 pm
Tan81,
You started invest in share market so early, no wonder you know so much. I wish I will have your kind of 功力one day, able to analyse and justify what shares to buy and when to buy and sell.
After reading your analysis, I bought more Keladi today at RM0.245. Hope this share is like what you said a “Black Horse”.
Besides, anyone heard of Dr.John Mak 麦青远博士?
October 23rd, 2007 at 10:02 pm
Thank you tan81 for sharing your own story, oo really appreciate that.
提到PE——市盈率，请参考著名的市盈率。
谢谢。
October 24th, 2007 at 12:01 am
i read his article long time ago in nanyang. 麦青远博士 is dealing with commodity? i am not really sure, coz many years that i didn’t buy nanyang.
October 28th, 2007 at 2:00 am
hi, oo. i just create my own blog. if i forward your articles, is it ok?
this is the 1st time i create my blog, still learning to use these button. i am not an IT man. hope you can help me in the future if i do not know some blog features. thanks. please leave some suggestion there.
http://tan81.blogspot.com/
thanks 00.
October 29th, 2007 at 11:15 pm
Hi tan81,
No problem, you can forward the articles on my site.
Keep it going and write articles similar to Keladi research, oo will put a link to your site to support you. Keep it up.
Thank you.
October 29th, 2007 at 11:44 pm
哦哦，
谢谢。我也有买进VITROX 和 AIM。 有时间，就会把研究所得，和大家分享。
October 29th, 2007 at 11:54 pm
JADE，
有看到今天的KELADI 吗？正如林奇所讲，永远没有人可以预测股价的起伏。
my girl fren just bought in RM0.245@10000 units this morning. and see it shoot up in the evening. hope you still hold it. i will continuos to buy keladi once i have money until it is overprice. Peter lynx said, only sell the stocks when you are not planning to buy it anymore!
Hope you enjoy this results with us. good luck!
October 30th, 2007 at 12:37 am
my research for vitrox (0097)
http://tan81.blogspot.com/search/label/vitrox%20research
vitrox is listed at the half end year at 2005. according to peter lynx sectioning, it is under 周期性行业（电子业），也是快速增长的公司。
1. if you study its EPS growth, it is not attractive. But let us go into its financial report. In 2003, vitrox just a company that earning 6million a year. 2007, it is expected to record 12million net profit a year. means, it double its net profit over 5 years! if only compare 2006 and 2007, its EPS growth is 21%, current PE at 10 (when i bought RM0.79@1000 units).
2.Its average ROE is 29%, NTA is 0.25, compare to its issue share at RM0.10 each. with only listing more than 2 years, its NTA has been double.
3. under its industry current cycle (E&E) , this is recesscion time, but virtox still able to maintain a high growth in profit. it is a good news. 1st, you can wait for E&E growing, and virtox will be growing greater. 2nd, they are not facing any new competitors in next two years.
4. they have 10million cash in hand and no debts, means they are net cashflow company. currently, their net cash from operating activities still greater than cash used in investing activities.
5. according to bursa recent announcement, only 480 small shareholders of vitrox. this does not fulfill the requirement (1000 people). So, vitrox is expected to take some action to promote their share or giving bonus. thier NTA is RM0.25, which enable for at least 1 to 1 bonus issue.
6. Vitrox has invested in china to set up a branch. this is predicted to bring positive profit in the future. they also set up their office at USA. the only thing to worry is malaysia ringgit is too strong and will affected vitrox revenue growth.
7. there is no investor /mutual manager invest in this company as up to date.
8. their equities/liabilities is 9-12 times. which means they control debts very well and using cashflow from operating activities to maintain their growth.
9. according to PE=10, EPS growth is 29%, vitrox share price can up to 2 to 3 times.
any different idea, please let me know. i am willing to learn from mistake.
Goodluck!
October 31st, 2007 at 7:06 pm
Tan81,
Yeah…I m suprised to see the share price of Keladi suddenly shoot up but today is going lower again. I hope it will go higher and higher very soon. haha……
Thanks so so much for your generous sharing and advice…..I m still keeping it….(If it is not you, I would have sold it and making a big loss already,…sob sob in great relief)
I have acquired a hard copy of Keladi Financial Report and should be able to receive by next week, I m thinking to read it all over and study how you do the calculation, those PE, EPS and etc…..
I still havent got the essence of how you can calculate everything so fast…… haha
I also bought KNM 7164, it is introduced by my friend…….If you have time….would you mind to study about this company? Thanks!!!!!!!!!
November 1st, 2007 at 12:53 am
To jade, thanks for your reply. I hope we can keep on sharing here.
maybe you do not like to hear that, I do not hope keladi will go higher and higher very soon. of coz, i also have no idea that why its price shoot up, i didn’t aspect that. But, i really think that this is a good company to invest in. I will receive some payment next week and will keep on accumulate its share. hope its price not going up so soon. Try to think about it, if you find a good chance/company, will you hope its buying price become expensive? For the buyer, we always hope it is all time cheap. the best is it can be “free”. of coz, this normally does not exist. coz good things normally are held by people.
About KNM, i try to look into some info. Long term investors normally against with short term investor. No true or false. Just opposite perspective. hope you are willing to listen. I didn’t really go in to KNM report after look at the recent Q2 results. there are a few reasons.
1. PE is too high. according its current FY profit, PE=20. Unless its growing next 3-5 years is 20%, if not, you will not benefit from the investment. again, if you look into short term, this is another aspects.
2. KNM is in petrol line. Peter Lynx never like to buy share in those well known industries, especially some very hot company. If keladi keep on famous, this is also a signal to sell it. unless, this company really under value. He did purchased a hotel share, which is he didn’t like but the hotel is really under value. He gained more than 10 times from this investment.
3. KNM is a high risk company. Look at its core business. You will have to identified how much portion in the biz is secured income to the company. I have no idea how to identified it. So, i will consider this as my risk.
As i said, i didn’t go through the details, coz the PE already make avoid this company. If a company is not worth the price, please do not put your hope to gain on it. Unless you are looking for short term investment. That will be different aspects.
By the way, i also bought in a petrol company. haha….. It just happened today. i didn’t joke. If got time, i will put the anaylsis report on.
good luck to your investment and share with you again.
November 1st, 2007 at 12:54 am
sorry. the sentence is i do not hope keladi price go higher and higher very soon…..
November 1st, 2007 at 7:31 pm
Dont thank me! I m actually feeling very thankful to your reply and generous sharing, of course not forgetting OO who created this website.
As a beginner, not knowing how share market works and how companies actually operate and simply invest is like throwing hard earned and hard saved money in the unknown bottomless hole without knowing what will happen. You dont know when your hard earned money is suddenly being swallowed!! THis feeling is scary!!!!!
My aim is of course to be an investor not a speculator ( still finding way how to be a smart investor) because I strongly believe in the power of compounding and really like the Warren Buffet’s way of investing….
Please advice more Tan81, your advices are highly appreciated!!! =)
November 1st, 2007 at 7:34 pm
Tan81, may i know which website did you go to look for KNM ’s Q2 result and how do you justify its PE is too high?
November 1st, 2007 at 8:07 pm
为什么lonbisc7126 quater 2 的盈利怎么掉得这么厉害?
November 1st, 2007 at 10:43 pm
from the star online.
The accumulated EPS is 28.29 sen for 2 Quater. So, estimate one year is 56 sen. share price is 6.00. PE is 10.71. sorry , it is my bad. i will try to recalculate again.
http://biz.thestar.com.my/marketwatch/fin_resultcode.asp?searchstr=7164
sorry… i try to let you know asap.
November 8th, 2007 at 12:41 am
to jade,
I have finish my research about KNM. Sorry for taking time, coz recently busy with some others things.
KNM split and pay bonus this year, so the calculation is very complex. KNM pay bonus RM0.50 each, 1 to 1, so, the share number is double. Then, the new share splits to RM0.25, the share number double again. After that, the new share number is 4X than original.
For the past half year, KNM earned RM0.28. Estimated EPS for 2007 is RM0.56. After bonus and split share exercise, It became RM0.56/4 =
RM 0.14. Very sorry to tell you that, according to recent share price, RM6.00 , PE is RM6/RM0.14, which is equal to ard 40X.
This is too high, and i think it is because all the speculators are aiming oils company and oil palm plantation company. This PE is irrational.
KNM has big portion of current debts and low cash in hand. even KNM has a high ROE=0.30, but they are having high debts , too. this will risk their company if the oil sector downturn.
If KNM continuous grow with 25% per year, i think the reasonable price is RM4 to RM5 per unit share. this calculation is base on Graham Rules One.
Try to sell it before it burst. There is an advice for you, if you do not mind. Please do not buy share , based on frens recommendation. If you miss a good opportunity, always is better than you met a wrong opportunity. missing chance will not cause you lost money, but choosing wrong company, will make you lost. Be patient and study the company before you invest on them. Good luck.
If you want to gain money in oils sector, may do study on shell. I am accumulate Shell. Again, do not buy because others people did. Try to buy because of you know the company.
Good luck!
November 8th, 2007 at 8:31 pm
Hi, anyone do some study or research on Sumatec?
November 9th, 2007 at 2:40 am
to jeff,
May you please sharing what is the reason that you want to buy Sumatec? then it is easier for me to check that statement is true or false.
wait for your reply.
good luck!
November 9th, 2007 at 11:10 am
to tan81,
1st of all, thanx for ur reply!
Below are some study that i have done. Pls advice:
Sumatec Resources, a Malaysian construction group that is developing the nation’s only copper mine, expects metals to contribute about a third of its profit this year.
The company owns a five-year lease covering 550,000 tons of copper in Pahang State, as well as a similar lease to mine gold in Terengganu, said James Chan, the group’s managing director. Blasting at the gold mine, which is being rehabilitated.
The company is trying to benefit from opportunities left by the withdrawal of Malaysia’s biggest miners, including MMC Corp., which diversified away from mining into energy and real estate after as metal prices fell in the 1980s.
Initial drilling at one section of Sumatec’s Lubuk Mandi gold mine, which produced about 3,300 kilograms, or 116,000 ounces, of the precious metal under a previous owner in the 1990s, revealed potential for a further 300 kilograms, the company said on April 3. That is worth about $7 million at current prices.
Sumatec’s copper mine in Pahang has “fully explored, evaluated and proven reserves” of about 550,000 tons, of which about 205,000 tons are minable.
Sumatec Resources, involved in a few industries, such as oil shipment, base metal mining, construction in oild and gas and petrocghemical industries.
As we know that, the price of natural resources are in the upside trend, include the oil & gas, gold, copper as well. It will create an opportunity for this company to boost up earnings.
Sumatec NTA per share is rm0.66 (after deduct the goodwill)
Net cash flow = 9million
ROE = 7.2% (based on 2006)
D/E = 1.7
further information: http://www.lcmart.com/viewthread_6090.html
PLS advice ya! Hope can learn from each other.