Monday, June 24, 2013

Update on My Portfolio

Another post only after 5 months, how to "cari makan"? However to my surprise the number of followers is increasing. What a boring blogger still manage to pull followers.

I disposed my Allianz due to it is fully valued currently based on my valuation, nothing wrong with the company.

I bought some CIMB as the dust already settled. Still opines that it is not fully appreciated as a regional bank by investors. I believe that a regional bank shall fetch a higher PE valuation as compared to a normal local bank. Although one can argue that Maybank is also on track to be a regional bank, which is traded at comparable PE with higher dividend. But one should notice that Maybank is following what is done by CIMB. So why want to buy a follower instead of a leader? CIMB is evolving constantly to realize its ambition to be a regional bank, which is still at infant stage. I foresee there is still more room to grow. Personally I like growth, I like a company able to grow meaningfully in years to come. It also keep streamlining is core businesses and improve its operational efficiency with CIMB 2.0 programme.

My favorite, Hartalega, is flying, hope that the sky is the limit. With NGC already move a big step forward, market appraised immediately with a even higher PE valuation. It is set to grow for years to come with this NGC, which is quantum leap. I said it is a quantum leap which it is, because instead of following what other glove makers did, it plan to multiply is capacity in a single plant. Other glove makers normally plan a plant follow by another plant with normal capacity expansion only. This how I valued Hartalega's management, I don't see a close fight in this sense. Some more NGC will also the most efficient plant by industry standard. Top notch management! It set the standard for others to follow, which I don't think others able to duplicate.

17 comments:

  1. Yes, looking forward for your sharing, please write more. :)

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    Replies

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      Delete
  2. miss your sharing, same plea as Jonas, please write more

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  3. 我是长期的followers 哈哈 支持 支持。。 many years already

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  4. Hi Jonas, khat & Polar Bear, thanks for your support. Will try to share more.

    Before year 2008, I was purely in stock. After that I started to invest in property, and get more aggressive in property from year 2010 onward. Last year I also active in property, but start to sell 2 in this year. Will not sell any after these two. Now I was at the junction whether to buy more stock or property.

    Stock is a business as usual for me as I no need to spend a lot of times but still able to survive. I did not do enough research to find out good buy, I just go along with the companies that I familiar with. This is one of the reason I did not post a new stock selection. However I still apply the same strategy like last time.

    On the other hand, most of my time spent on property investment. I am still cautiously positive on property, especially on landed property and condo that rental game is viable. Stay out from new launches, will be safer bet.

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  5. Hi Brother,
    what is your target price of CIMB? if comparing to OCBC, UOB, and Industrial and Commercial Bank of China Limited (ICBC), did you still go for CIMB?

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  6. Hi Sim, my knowledge still confine within Malaysia shore. I did not track UOB, OCBC & ICBC. I only compared CIMB to other local banks. Maybe you can share a bit.

    I normally priced good company at PE16, if the market appreciate more; I am more than happy. For case of CIMB I opine that it should "worth" a little bit more that PE16.

    If I buy a good stock that traded below this PE, I assume that I did not over paid. Couple with the company growth and possible of a stock traded at PE16 to my assumption, I am confident that I can make some pocket money.

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  7. Hi 2nd brother, may I know what is your opinion on PCHEM? This company performed very well in the past few years. I foresee it will continue to growth in future as well. I think this company also can classify as growth company, right?
    Will you also priced it at PE16?

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  8. Hi tan zi xuen, frankly I did not follow PCHEM. I do not think that PCHEM perform well in term of growth in net profit. I do not understand its products and how it going to grow its market share or more importantly its net profit. So I give it a pass.

    A company without growth prospect is unlikely to command higher PE, further more time is not at your side.

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  9. I disposed my Allianz due to it is fully valued currently based on my valuation, nothing wrong with the company

    Stock Market

    ReplyDelete
  10. hi 2nd brother,

    what do you think of MBSB Malaysia Building Society comparing with CIMB?

    ReplyDelete
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