这就是社会， 防人之心不可无

股市就像马来西亚的天气， 又下雨，等下又晴天， 时不时会打雷。。。。起起跌跌。。正常

国会报道 财政部长林冠英否认政府终止捷运二号线（MRT2）地下建筑工程，引发上周股市抛售。


VVVVVVVVVV

股市就像马来西亚的天气， 又下雨，等下又晴天， 时不时会打雷。。。。起起跌跌。。正常

KIANJOO 18:28:35 SEE TEOW CHUAN (5,900 units Acquired)

Kindly refer to below announcement for your information and action:- 

Tuesday, 16 Oct 2018
KIANJOO
18:28:35	SEE TEOW CHUAN (5,900 units Acquired)

Should you require further assistance, please do not hesitate to contact your dealer representative. 

LAY HONG GREATLY EFFECTED BY HIGHER RAW MATERIAL COSTS

Higher raw material costs driven by the weaker ringgit, particularly for corn feed, are expected to hit integrated livestock player Lay Hong Bhd significantly this financial year. Furthermore, the potentially lower selling prices for table eggs could negate the potential gains from the higher sales of their other products.

The company is involved in the production and sale of eggs, chickens, ready-to-eat meals and processed chicken products such as nuggets and sausages, among others. It is also involved in the retail sector as it owns the G-Mart chain of supermarkets in Sabah.

Lay Hong’s revenue grew in the first quarter of FY19 (1QFY19) as it benefitted from a higher quantity of eggs sold following the completion of a new farm which boosted production capacity to three million eggs a day. Topline was also driven by higher quantities sold and better prices for its processed frozen products and pasteurised liquid eggs in the quarter.

However, lower egg prices and higher raw material prices combined to drag down their bottomline. Streets suggest that a 1% decrease in egg prices can cause earnings to decrease by a similar quantum, while a 1% increase in feed costs can potentially reduce earnings by 4% to 5%.

This was quite evident in Lay Hong’s 1Q results. Its revenue for the period increased by 8.9% to RM199.3 mil from RM183 mil in the previous year’s corresponding period. However, its bottomline contracted significantly by 62% to RM2.3 mil from RM6.2 mil over the same period under review.

Lay Hong executive director Yap Chor How admits that the sharp increase in raw material prices over the past year (FY2018) is, and will be, a significant problem for the company in FY19.

Yap admits the raw material price increase is quite serious and management is trying to find remedies in terms of feed formulation and operational efficiencies so that Layhong can weather this price increase.

On a year-on-year (yoy) basis the price per metric tonne (MT) of corn rose from around RM700 to about RM900 plus recently (end Sept 2018). This translates into about 30% increase in just corn costs for Lay Hong.

Worryingly, Yap sees prices rising further as weather drives down corn inventories worldwide. The biggest impact on the crop is the weather and this will be the biggest challenge in production in the coming year (2019)… at this rate prices could potentially breach new levels in the next six to 12 months from Oct 2018.

Corn represents about half of Lay Hong’s costs.

While high raw material prices would be unwelcome at any time, it has hit Lay Hong at a particularly bad time as it ramps up its egg production levels. Feed costs are going up in tandem with its production levels. Given that Lay Hong has already invested in expanding its production capacity, it cannot slow its production too much.

The ringgit’s depreciation against the USD has made matters worse for the livestock player. Like most commodities, corn is denominated in USD.

Yap admits that in view of these challenges, Lay Hong is gearing up for a weaker set of results in FY19. LayHong will still be profitable but it will not be as good as in FY18.

biggest mall in Malaysia

ESOS FOR YSP---RM1.89

Additional Listing Announcement /Subdivision of Shares

Y.S.P.SOUTHEAST ASIA HOLDING BERHAD

1. Details of Corporate Proposal
Involve issuance of new type/class of securities ?	No
Types of corporate proposal	ESOS
Details of corporate proposal	Employees' Shares Option Scheme
No. of shares issued under this corporate proposal	20,000
Issue price per share ($$)	Malaysian Ringgit (MYR)   1.8900
Par Value($$) (if applicable)
Latest issued share capital after the above corporate proposal in the following
Units	138,240,985
Issued Share Capital ($$)	Malaysian Ringgit (MYR) 141,852,665.000
Listing Date	08 Oct 2018
2. Details of Corporate Proposal
Involve issuance of new type/class of securities ?	No
Types of corporate proposal	ESOS
Details of corporate proposal	Employees' Shares Option Scheme
No. of shares issued under this corporate proposal	10,000
Issue price per share ($$)	Malaysian Ringgit (MYR)   2.4000
Par Value($$) (if applicable)
Latest issued share capital after the above corporate proposal in the following
Units	138,250,985
Issued Share Capital ($$)	Malaysian Ringgit (MYR) 141,876,665.000
Listing Date	08 Oct 2018

---

Announcement Info

Company Name	Y.S.P.SOUTHEAST ASIA HOLDING BERHAD
Stock Name	YSPSAH
Date Announced	05 Oct 2018
Category	Additional Listing Announcement /Subdivision of Shares
Reference Number	ALA-04102018-00008

2018英國達人秀一個得到主持人黃金按鈕的魔術感人試鏡~(中文字幕)~讓人不禁熱淚盈眶

SC BUILD--GETTING BETTER AND BETTER

Quarterly rpt on consolidated results for the financial period ended 31 Jul 2018

SC ESTATE BUILDER BERHAD

Financial Year End	31 Jan 2019
Quarter	2 Qtr
Quarterly report for the financial period ended	31 Jul 2018
The figures	have not been audited

Attachments SC Estate Builder Berhad - 2nd Quarterly Result ended 31 July 2018.pdf 365.5 kB

• Default Currency
• Other Currency

Currency: Malaysian Ringgit (MYR)

SUMMARY OF KEY FINANCIAL INFORMATION 31 Jul 2018

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31 Jul 2018	31 Jul 2017	31 Jul 2018	31 Jul 2017
		$$'000	$$'000	$$'000	$$'000
1	Revenue	3,548	2,972	4,405	11,838
2	Profit/(loss) before tax	-283	-889	-825	-872
3	Profit/(loss) for the period	-283	-889	-825	-947
4	Profit/(loss) attributable to ordinary equity holders of the parent	-283	-889	-825	-947
5	Basic earnings/(loss) per share (Subunit)	-0.03	-0.10	-0.09	-0.11
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	0.0370		0.0380

Definition of Subunit: In a currency system, there is usually a main unit (base) and subunit that is a fraction amount of the main unit.
Example for the subunit as follows:

Country	Base Unit	Subunit
Malaysia	Ringgit	Sen
United States	Dollar	Cent
United Kingdom	Pound	Pence

---

Announcement Info

Company Name	SC ESTATE BUILDER BERHAD
Stock Name	SCBUILD
Date Announced	28 Sep 2018
Category	Financial Results
Reference Number	FRA-27092018-00015

科技趋势 | 美国四大城市上5G；只需2.6美元，脸书被骇资料随你用！微软无线耳机火了（20181003）

MALTON--PROFIT IN BAD SHAPE

Quarterly rpt on consolidated results for the financial period ended 30 Jun 2018

MALTON BERHAD

Financial Year End	30 Jun 2018
Quarter	4 Qtr
Quarterly report for the financial period ended	30 Jun 2018
The figures	have not been audited

Attachments MALTONQ4FYE30062018.pdf 950.8 kB

• Default Currency
• Other Currency

Currency: Malaysian Ringgit (MYR)

SUMMARY OF KEY FINANCIAL INFORMATION 30 Jun 2018

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30 Jun 2018	30 Jun 2017	30 Jun 2018	30 Jun 2017
		$$'000	$$'000	$$'000	$$'000
1	Revenue	274,555	348,358	818,773	830,739
2	Profit/(loss) before tax	16,583	92,155	83,028	114,665
3	Profit/(loss) for the period	146	49,004	55,649	63,181
4	Profit/(loss) attributable to ordinary equity holders of the parent	399	48,939	56,482	63,287
5	Basic earnings/(loss) per share (Subunit)	0.08	9.49	10.70	13.59
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	1.7300		1.6500

Definition of Subunit:

In a currency system, there is usually a main unit (base) and subunit that is a fraction amount of the main unit.
Example for the subunit as follows:

Country	Base Unit	Subunit
Malaysia	Ringgit	Sen
United States	Dollar	Cent
United Kingdom	Pound	Pence

---

Announcement Info

Company Name	MALTON BERHAD
Stock Name	MALTON
Date Announced	30 Aug 2018
Category	Financial Results
Reference Number	FRA-30082018-00072

只要產業前景出現疑慮時就得換股，不要等到確定之後就已經太晚了。

企業具備源源不斷獲利的條件，產業前景是首要考慮因素，接著才是競爭優勢的營運系統。產業沒有了前景最厲害的公司也沒用，柯達公司在數位相機出來之前，是該產業的佼佼者，靠著底片賺了不少錢，然而數位相機流行後，底片產業就注定沒落，柯達就在這產業消失了。然而產業的更替不會一夕間發生，從發明數位相機到取代傳統相機，中間有著一段時間差，只要產業前景出現疑慮時就得換股，不要等到確定之後就已經太晚了。

中華電信的客戶是一般企業及民眾，只要有人存在就有打電話需求，所以電信產業短期內不用擔心。除此之外，電信產業是特許行業，還得標到較好的頻段，還得投入大量資金建造機房及基地台，所以進入門檻高。也就是說，只要在這產業具優勢的股票，獲利就不容易有太大的變化。不是只有中華電信一家，台灣大(3045)、遠傳(4904)歷年的EPS也都非常穩定。

反觀台灣的遊戲產業並沒有很成熟，幾乎沒有相當穩定獲利的公司，不論是遊戲橘子、大宇資訊、鈊象都是一樣，而且每一家的規模也不夠大，當然不容易建立競爭門檻，在核心競爭力尚未建立起來之前，獲利穩定度必然受到考驗。這些產業股票要搶短沒有問題，但若要長期持有風險就比較令人憂心。

要看一家企業是否具有競爭優勢，只要看產品及規模就知道。統一超商是個服務業，門市數量已經超過5千家，遠遠的比其他便利商店多出很多，該公司已經建立了品牌及規模兩大進入門檻，規模夠大採購就更具有優勢，成本能夠降低獲利自然就較高，一哥的地位當然不簡單撼動，當然是存股族的口袋名單。

科技業容易大起大落，最典型就是宏達電(2498)，股價曾經高達1,300元，如今卻只剩下每股40元，實在令人唏噓。手機產業前景無庸置疑，但宏達電的競爭力卻相當薄弱，這產業經濟規模相當大，是國際級公司必爭之地，除非投入資源夠多，才有機會脫穎而出。而宏達電當時就是不自量力，沒有投入相對資源，才會在手機這產業敗下陣來。這種大型產業不是不能進入，但規模就得夠大才有競爭力，液晶面板、記憶體以及晶圓代工都是這產業代表，好在台積電在這產業已經建立起經濟規模，獲利才能夠源源流長。反觀面板產業及記憶體都已經被韓國盤據，台灣企業已經不容易進入，更別談獲利了。

雖然科技業變化較大，只要野心沒有太大，專精較小的產業，就比較容易建立競爭優勢。例如每個電腦都需要的電源器，以及手機鏡零件等都是規模比較小的產業，較適合台灣公司生存。愈具有競爭力的公司，毛利率通常就愈高，因為毛利率就代表產品的附加價值。所以從毛利率大小也能看出產品面的競爭優勢。

例如專注電源供應器的台達電(2308)，2018年最近4季平均毛利率26%，在製造業中算很不錯，當然成為電源供應器的龍頭廠商。另外專注光學鏡片的大立光(3008)，最近4季毛利率平均高達67%，顯示大立光的產品具有相當競爭力，所以附加價值才會這麼高，獲利就會跟著提升。除了上述幾個產業之外，還有非常多的股票獲利都非常穩定，挑選方式先從財報檢視歷年來的獲利是否穩定，再從中挑選毛利率較高的，接著檢視產業前景是否有疑慮，以及是否已經建立競爭門檻，每檔股票經過這樣精挑細選，股票才能夠存的安心，獲利也才能穩定。最後也是很重要的一點，獲利穩定的股票很多，不要只專注於一兩檔，最好分散於不同產業，讓獲利及股價波動減到最低，投資才更有保障。

本文刊登於Smart智富月刊241期58頁(2018 10月)

市淡才可擇肥而噬。

市淡才可擇肥而噬。


股市还是有机会，
一样精彩。

散户要赚钱， 要打醒12分精神

金錢遊戲

在這個經濟森林食物鏈的頂端，當然是超級大戶，他們在資金、財技、知訊都佔壓倒性優勝，隨意能把大市舞高弄低，任意魚肉我等小散戶。

而較次等的就是各式基金，他們雖專業，但錢是客人的，傳統基金經理首要是保飯碗，更看好的股票也不能買超過10%；更看淡都不能一股都無；明知物非所值也要焗買....。加埋昂貴的手績費，有好成績都算客仔夠運。

那追求絕對回報的對沖基金又如何？錢是客的，必然有多大玩多天，好運三數年，花紅佣金夠食過世，出事就大不了引咎辭職，他們當然制得過呀！

食物鏈最低層當然係我般散戶，客觀條件十分蝕底，因大都已給日常工作耗盡精力，還再要和班大鱷博殺，簡直就是場惡夢。

當然最隹方法就係不參與這等不公平的金錢遊戲，但亦吾到你吾參戰，因通脹會吃盡你血汗金錢的購買力，最令人難過的莫過於聽到某散戶打電話問財演，他聽某人推介買入隻？股，現在跌了八成，需不需要止蝕，有無機會返家鄉，這公司是做甚麼生意的.......。

還未及取笑他們就鉤起一段段回憶，自己何嘗不是一樣天真兼無知，架上一張張的股票廢紙，令我明解自己只是在五十步笑一百步而矣！

1. 回覆
2. 
   風輕雲淡2018年10月3日 上午9:45

   森林中，大鱷雖凶猛霸道，但身披鱷魚皮卻可能引來prada LV覬覦
   反觀池中小魚雖弱，但勝在數量眾多，大鱷們吃不完，總有部份身手靈活的能長成大魚，還有機會機因異變長成食人魚，哈哈！

   回覆
   回覆

   1. 
      Billy Ho2018年10月3日 上午10:32

      I hope so