Affin delivered strong EPS of 7.44

We still holding Affin and we think it is undervalued at RM 2.30. Improved EPS and total of 18.49 cents for 3Qs is actually providing an easy ROE of 10%. We will continue to hold and reward its result by buying further in the coming week.

Eventually everyone will suffer – USJ temple incident

Some extremist from all races and religions. Especially those who started this. Eventually everyone will suffer. Be it you win. But the chain effect will be huge. Do not believe in one God is better than other or one race is much excel. Eventually we are stay on earth. Today technology and population. Anyone one party started this will eventually hurt everyone. Including the starter.

Bitcoin back to USD 4K level

Another clear segment of how speculative money can move things. Once from USD 2K to USD19K. Now back to 4K or perhaps may be even lower. 2 indications over here.

1. Buy value

2. Fundamental has dead for short to mid term.

We have been buying as market oversold

We have bought substantially lately and we believed the market is oversold. We bought CIMB, MBSB, Jaks, GENM, Pantech and AirAsia. We think year end window dressing and January fund repositioning will general lift the market. If without a major crisis that market should perform a mild recovery.

MBSB is still our top pick fair valued at RM 1.5 to RM 1.8

With yesterday announcement, MBSB will have an estimated 10 cents by 4th quarter of it’s income. For a 15 times PE it should valued at RM 1.5. The merging cost and conversion of loan to full Islamic may still cost them a few quarters. I expect should be fully ended plus some capital expenditure when moving to New product lines.

I think is not easy to compete with the big banks thus niche market grow is required.

Citing new products contribution, consistent loan grow and completion of impairment plus merging cost. MBSB Bank is still a buy for me. I do think there will be a easy factor to move it above two.

We bought Genting Malaysia when panic selldown

Market opened the day with severe sell down on Genting and Genting Malaysia. Yes, gross tax increase of 10% plus license RM 30 millions is significant. But it should not promote a sell down to this level. Perhaps short selling increase volatility but a great chance for us to buy. We bought average Genting Malaysia at RM 3.30.

Budget 2019 is not affecting our portfolio

We see not much impact in term of good or bad on our portfolio. Our main holdings MBSB, CIMB, MAYBANK. Our growth stocks holding on Apex Healthcare and YSPSAH will be still on target to grow. But we have bought in quite a lot of undervalued stocks lately.

We will put a little attention back to impact investment. Besides of financial industry of Malaysia. We always like tech but that’s not much good tech in Malaysia.

Our other segments includes healthcare (but not overvalued), agriculture, climate change (green related) and tech.

We bought in HHHCorp and Bioalpha holdings. Undervalued like JAKS, AYS, Pantech, Rhonema and Ken.

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