Bee Hive Expansion experiment

In a coincident known that there is ex College who is having 4 bee hive currently, have recommend and introduce for bee hive to be around home area.

the Hive was brought over from this college as he intend to change the bee to cica instead of itama. cica is bigger size of bee can produce more honey than itama.

over the period, out of curiosity i have done the following experiment with the intention to expand the current hive topping with adding another layer on top of it.

the box was brought from art accessories shop with coincident suitable size and cost around rm 33. to try out.

1st time - failed, the bee seal up the hole without hesitate.
Reason the hole is too small, the bee feel is a leaking hole instead of a new spacious for storage.

2nd time - failed, the bee seal up the hole as well.
Reason the hole is light bigger only, bee manage to fill it up as well.
No photo(forgot to take)

3rd time - failed, the bee took about a week time and seal up the hole completely
Reason the hole was quite big, but i guess without the pollen,propolis or honey to attract it to feel comfort to expand their storage.



















4th time - in review
Action - open up the previous hive and put a portion of propolis nearby to the hole make it feel more comfortable to expand.

This attempt was made on 15 dec 2018
The results is under observation at the moment.

To be confirm again if expansion successful or failed.

Watch list Brusa

No	Stock	Type	Own	AGM gift
1	Gamuda	Project		#N/A
6	dailog	Petrol reserve		#N/A
7	serbak			#N/A
8	petronm	OIL & GAS PRODUCERS		tumble
9	hengyuan	OIL & GAS PRODUCERS		touch&go 20+kfc 40
10	gas malaysia	GAS, WATER & MULTI-UTILITIES		#N/A
11	Nestle	Food	Y	nestle pack food
12	genting	gamble		genting voucher bus and food
13	genm	gamble		genting voucher bus and food
14	petdag	petrol station		giftcard
15	ppb	Food		pbb product
16	IHH	Hospital		#N/A
17	harta	Glove		glove
18	topglov	Glove	Y	glove
19	kossan	Glove		#N/A
20	KPJ	Hospital		#N/A
21	petchem	chemical		MO voucher 100
22	hapseng			#N/A
23	pmetal	Aluminium		#N/A
24	lctitan	chemical		aeon 80
36	klcc	shopping mall		MO voucher 100
37	igbreit	shopping mall	Y	38 voucher
38	sunreit	Mix REIT	Y	food lunch
39	pavreit	shopping mall		#N/A
40	CMMT	shopping mall		#N/A
41	inari			#N/A
42	myeg			#N/A
43	vitrox			#N/A
44	MPI			#N/A
45	unisem			#N/A
46	maxis	Mobile		prepaid 30+kfc 50
47	axiata	Mobile		prepaid 20 + boost 40
48	TM	Fiber		#N/A
49	time	fiber		#N/A
51	MISC	petrol shipping		#N/A
52	airport	Airport		bag + kfc 25
53	westport	sea port		#N/A
56	tenaga	special license	Y	electronic + ae0n 20
57	petgas	Gas		MO voucher 100
60	malakof	IPP	Y	kfc 40(agm notice say no dooor gift)
61	maybank	bank		aeon 50
62	pbb	bank		tumble + parkson 50
63	cimb	bank	Y	30
64	hlb	bank	Y	#N/A
65	hlfg	bank		#N/A
66	ambank	bank	Y	Aeon 50 + oldtown 20
67	MBSB	bank	Y	Tumble
68	RHB	bank		aeon 30 + oldtown 20
70	ABMB	bank		#N/A
71	Aeoncr	Non bank	Y	snack + tissue + tumble
73	Brusa	special license		kfc 40
74	apollo	Food		#N/A
76	carlsberg	Beer		kfc + carlsberg
77	Dlady	Milk	Y	dlady milk
78	F&N	100 plus		F&N product
79	Heim	Beer		hein product
80	kawan	Roti prata		#N/A
81	pwroot	Coffee		#N/A
82	yeelee	Food		yeelee product
83	Haio	MLM		#N/A
85	Ql	Egg		#N/A
87	Allianz	insurance		PA insurance
88	LPI	insurance	Y	gift + parkson 50(need after vote)
92	takaful	insurance		#N/A
93	tunepro	insurance		#N/A
95	HLI	Yamaha motor		#N/A
96	panamy	Panasonic		panasonic voucher 50
97	airasia	short haul < 4 hour		rebate 500
98	AAX	long haul> 4 hour		#N/A
99	padini	Cloth		padini voucher
100	CCMD	medicine		#N/A
101	pharma	medicine		#N/A
102	litrack	LDP,		#N/A
103	Aeon	Mall		Aeon 60
104	Aji	aji product		aji product
105	digi	Mobile		prepaid 100

Overall owe 14 out of 77. still got a long way to go.

進撃の百萬組合 - (8)

九月2018年

馬股(MYR)
資本 197,165
現值 205,794
盈虧 8,629 (4.3%)

美股(USD)
資本 27,028
現值 27,645
盈虧 617 (2.2%)

港股(HKD)
資本 181,024
現值 166,490
盈虧 - 14,534 (-8%)

---------------------------------------------------------------------------------
馬股
九月買進HLB看好銀行升息週期，盈利增進。

美股九月急跌損失去。7k美元。
但過後回升但沒買錯過最好時幾.
思過策略應買股開call同時set cut loss.
開put不能同時expired風險過大

港股
因tencent暴跌錯過cut loss導致過度損失，看好銀行保險股.
資本不大不能過度分散.

PANAMY - FY 2019

Record down on Panamy performance

This Quarter report is obviously poor than last year QR.
Revenue drop 7% ; EPS drop 37%.
Results poor due to demand lower in Middle east as well one off derivative loss(forex loss).
panamy policy is purchase forward contract for all forex trade.
this action can mitigate future risk, avoid forecast on forex risk.

Panamy major product is home appliance product & Fan & others product.
these 2 product for Asia,Mid east market already contribute more than 94%.
Malaysia market can be forecast with the property market situation, as more new house means need more new appliance and fans. Mid east cannot be retrieve.

Liabilities 
debt wise panamy is low, as no such long term debt all is only operation debt. no wonder can give out good dividend.




Prospect for year 2019 from management
The export market conditions are set to remain volatile and the performance of the Company could also be further impacted by the volatility of the Ringgit. However, the Company is committed to aggressively pursue its business strategy of prudent cost management to achieve satisfactory results for the financial year ending 31 March 2019. (overall market situation cannot be manageable, only cost can be mange better)

Chart wise
Based on 5 line chart the current price is consider at cheap value, perhaps on the EPS gain impact.
but based on candle stick chart, current price is at the high level of the stock history. entry now could be risky unless foresee the prospect will be great.


Comment
for next quarter results maybe better as it will be only GST free period. and higher consumer spending period. July & August 2018. so expect next QR on Nov 18 should be doing better.
but as after sept 2018 will implement SST, so manufacture will be taxed 10%, not sure if panamy is exempted for the export tax else the future results still uncertain. it is not having a good first year QR, as june GST exemption not seen to have a good results to panamy.
fundamentally panamy is japan company which is good at dividend pay out as they are prudent to take money back to their japan company.

Ambank AGM - 31 July 2018

Ambank Agm,

This year no give break fast but replace with RM 20 old town voucher.

and RM 50 AEON voucher.

Somethings new is  Chairman Tan Sri was there to have photo with shareholders, i think this could be he is planning retirement in the near future. 

Dividend Reinvestment Plan

As the title means, dividend is income declare from the share you purchase. and now it offer you the chance to use this dividend money to buy back the company mother shares.
Purpose of this DRP(Dividend Reinvestment Plan) is to raise up capital or increase the numbers of shares floating. its concept is similar with unit trust. where the dividend declare will be converted into unit, not cash.
*The Reinvestment is only can use dividend money to reinvest. unlike right issue which require you to give additional funding to reinvest.


Example
MBSB declare 5 cents dividend for this year 2018 dividend.

So the DRP offer shareholder to reinvest at price of RM 1.02 ; about 10% lower than current market price. so you will have the choice of to reinvest this dividend money or choose to take cash only.


Scenario 1, you choose to accept the DRP.

Then you will use the DRP form you received and post it back to the share registrar.
in the DRP form it clearly mention total amount of share you can reinvest and remaining will be paid u in cash.

Example :
you have 100,000 unit; 5 cents dividend will be RM 5000; so total numbers of share you can buy is RM 5000 / RM 1.02 (share offer price) = 4900 unit. remaining amount will be convert into cash.

total you can choose to reinvest 4900 unit. but u can choose to reinvest 1000 unit remaining into cash, up to your choice.

Pros
you can buy the share at a discount price of 10% from current market price RM 1.12. so if you choose not to reinvest the market price of MBSB will be impact after the reinvestment unit added into market. (normally will be lower than 1.12)

Cons
As the process to reinvest will require to pos back the reinvestment form to share registrar, so there is a cost of Affix RM 10 + postage fees. (but lucky this round Affix is borne by MBSB, so you save RM 10 just the postage fees require, 80 cents to be paid)


Scenario 2, you choose not to accept the DRP
then you do not need to do anythings, as the pay date due you will received your dividend money.

信貸評級

 Table 1 : 商業及消費服務業的評級標準

Table 2 : 零售業的評級標準

1)速動比率及流動比率（QUICK RATIO AND CURRENT RATIO）

速動比率及流動比率是可以反映企業流動性的財務比率，兩者的計算方法十分接近，但數值的意義則大有不同。流動比率是以企業的流動資產除以流動負債，而速動比率亦然，不過就減去庫存。從會計學的角度而言，流動資產當中除了現金及銀行存款等流動性極高的資產外，亦包括應收帳款（Account Receivable）等較為流動的資產，最後亦有庫存（Inventory）等需要較長時間出售從而轉換成為企業流動資金的資產。因為速動比率的計算並不包括庫存，所以流動比率反映的是企業較為長期償債能力，而速動比率則量化企業較短期的償債能力。以香港上市的內房企業為例，流動及速動比率的市場平均值大約為1.8及0.6，企業的比率較平均值高則表示企業的流動性較市場平均值佳。除此之外，投資者亦可參考現金比率（Cash Ratio），計算方法是以現金及現金等值除以流動負債，所以現金比率可以反映企業能夠即時撥款償債的能力；同樣地，現金比率愈高代表企業即時償付債項的能力愈好，以香港上市的內房為例，現金比率的市場平均值大約為0.3。

Formula ; Above 1 Means healthy ; below 1 means risk
Major different between this 2 ratio, Quick ration without consider inventory, so it is most stringent requirement. 

Cash Ratio = (Cash and cash equivalents / current liabilities)

The cash ratio is the ratio of a company's total cash and cash equivalents (CCE) to its current liabilities. The metric calculates a company's ability to repay its short-term debt; this information is useful to creditors when deciding how much debt, if any, they would be willing to extend to the asking party. The cash ratio is generally a more conservative look at a company's ability to cover its liabilities than many other liquidity ratios because other assets, including accounts receivable, are left out of the equation.

if results is 1 means the company have exactly the cash to repay its debt.

2)利息覆蓋率（EBIT/TOTAL INTEREST EXPENSE）

利息覆蓋率反映企業償付利息的能力，可以理解為，企業的息稅前利潤是否足夠償還融資的成本。財政狀況穩健的企業，營運收益理應蓋過營運借貸的成本。所以若然這個比率下跌至低於1的水平，企業於該個財政年度期間則有需要動用備用現金以償還利息。當然，比率低於1並不代表企業必然會違約，企業仍然可運用現金儲備以償付利息。但就長遠發展而言，如果企業的利息覆蓋率長期處於1以下的水平，企業的營運壓力將會愈來愈高，每年需要從現金及銀行存款當中撥備，當現金餘額變至不足償還利息，企業就可能需要變賣資產以籌措資金，不過變賣資產亦非一朝一夕的事，企業有可能因未能即時變賣資產以償還即將到期的債務而有可能違約。

Same above 1 means company ability to repay debt is good.

3)淨債務對息稅折舊攤銷前利潤（NET DEBT/EBITDA）

淨債務對息稅折舊攤銷前利潤反映企業目前的負債與盈利比重，這一項槓桿比率普遍受評級機構所重視。因為淨債務為總債務減去企業現有的現金及現金等值，所以分析員能夠從這項比率分析企業未來的減償能力。以香港上市的內房為例，淨債務對息稅折舊攤銷前利潤的市場平均值大約為6.7倍，意思是若然企業的營運狀況在未來保持不變（淨債務及息稅折舊攤銷前利潤均保持不變），該些企業將能以6.7年的時間將其淨債務全部清還。當然，債務能以最短時間清還最為理想，所以此比率越低代表其債務負擔越低。

Net Debt to EBITDA Example

Suppose an investor wishes to conduct horizontal analysis on Company ABC to determine its ability to pay off its debt. For its previous fiscal year, Company ABC's short-term debt was $6.31 billion, long-term debt was $28.99 billion, and cash of $13.84 billion.

Therefore, Company ABC reported net debt of $21.46 billion, or $6.31 billion plus $28.99 billion less $13.84 billion, and an EBITDA of $60.60 billion during the fiscal period. Consequently, Apple had a net debt to EBITDA ratio of 0.35, or $21.46 billion divided by $60.60 billion.

For its recent fiscal year, Apple had short-term debt of $8.50 billion, long-term debt of $53.46 billion, and cash of $21.12 billion. The company increased its net debt by 90.31%, to $40.84 billion year over year. Company ABC reported an EBITDA of $77.89 billion, a 28.53% increase from its EBITDA the previous year.

Therefore, Company ABC had a net debt to EBITDA ratio of 0.52, or $40.84 billion divided by $77.89 billion. Although Company ABC's net debt to EBITDA ratio increased by 0.17, or 49.81% year-over-year. 

The ratio the lower the better.

4)總債務對總資產比率（TOTAL LIABILITIES/TOTAL ASSETS）

總債務對總資產比率的計算方法比較簡單，概括描述企業的營運風險。總資產包含流動及非流動資產，我們在介紹流動及速動比率的部份已經簡單講述流動資產的定義，所以就不再重複，至於非流動資產則包括機器、土地、營運物業及商譽等無法輕易轉換成為現金的資產。以香港上市的內房為例，總債務對總資產比率的市場平均值大約為0.7。若然比率的數值高於1，表示企業即使全數出售資產，仍無法全數償還債務，亦代表公司無法繼續營運。

The ratio below 1 is ability to return debt is good. the lower the better.

5)資產回報率（RETURN ON ASSETS）

資產回報率反映企業運用資本的能力。數值的高低並無任何特定標準，而且對比不同公司作比較時需要小心，因為資產回報率的計算方法因應不同企業而有分別，部份企業以純利除以資產總額，亦有部份企業將利息支出重新計算至純利當中，所以對比單一公司過去的資產回報率則為簡單，因為從每年資產回報率的變化可以觀察到個別企業的營運狀況，若然資產回報率按年下跌，代表企業的營運狀況開始轉弱。

以上五個財務比率能夠反映企業的信貸基礎，但不同的財務比率的高低對於不同行業的意義會有所不同。以槓桿性較重的行業如內房為例，由於發展房地產業務需要大量資金用以買地及建築，而且回本期較其他行業為長，所以負債比率一般較其他企業為高，所以投資者參考個別企業的財務比率時，需要以相同行業的公司或其版塊的平均值以作比較。財務比率可以作為對企業信貸基礎的概覽，需要留意的是，企業的財務比率只反映企業單獨個體的狀況，若然企業有國企背景，企業的信用基礎將會與企業所在國家的主權信貸基礎掛鉤，當中包括國家經濟及長遠的貨幣走勢。由於個別財務比率不能夠直接反映企業整體的違約風險，所以作出投資決定時，投資者除了需要參考不同的財務數據及比率外，亦需要留意環球經濟狀況及該版塊的前景。

A company's return on assets (ROA) is calculated as the ratio of its net income in a given period to the total value of its assets. For instance, if a company has $10,000 in total assets and generates $2,000 in net income, its ROA would be $2,000 / $10,000 = 0.2 or 20%.

Basis Point (BPS)

What are 'Basis Point (BPS)'

Basis point (BPS) refers to a common unit of measure for interest rates and other percentages in finance. One basis point is equal to 1/100th of 1%, or 0.01%, or 0.0001, and is used to denote the percentage change in a financial instrument. The relationship between percentage changes and basis points can be summarized as follows: 1% change = 100 basis points, and 0.01% = 1 basis point.

Bps commonly used in interest measurement and Forex term, hardly in stock. think in bond investment it is more frequently use as interest is the only measurement of earning.

example as below,

100 Bps = 1% ; 1Bps = 0.01%
this should be simple to remember and understand. 

BREAKING DOWN 'Basis Point (BPS)'

The "basis" in basis point comes from the base move between two percentages, or the spread between two interest rates. Because the changes recorded are usually narrow, and because small changes can have outsized outcomes, the "basis" is a fraction of a percent.

Example,

The basis point is commonly used for calculating changes in interest rates, equity indices, and the yield of a fixed-income security(Bond). It is common for bonds and loans to be quoted in basis point terms. For example, it could be said that the interest rate offered by your bank is 50 basis points higher than LIBOR (London Interbank Offered Rate). A bond whose yield increases from 5% to 5.5% is said to increase by 50 basis points; or interest rates that have risen 1% are said to have increased by 100 basis points. If the Federal Reserve Board raises the target interest rate by 25 basis points, it means that rates have risen by 0.25% percentage points. If rates were at 2.50%, and the Fed raised them by 0.25%, or 25 basis points, the new interest rate would be 2.75%.

Reason of used of Basis point,

By using basis points in conversation, traders and analysts remove some of the ambiguity that can arise when talking about things in percentage moves. For example, if a financial instrument is priced at a 10% rate of interest and the rate experiences a 10% increase, it could conceivably mean that it is now 0.10 x (1 + 0.10) = 11% OR it could also mean 10% + 10% = 20%. The intent of the statement is unclear. Use of basis points in this case makes the meaning obvious: if the instrument is priced at a 10% rate of interest and experiences a 100 bp move up, it is now 11%. The 20% result would occur if there was instead a move of 1,000 bps.

The Price Value of a Basis Point (PVBP) is a measure of the absolute value of the change in price of a bond for a one basis point change in yield. It is another way to measure interest-rate risk, similar to duration which measures the percent change in a bond price given a 1% change in rates.

PVBP is just a special case of dollar duration. Instead of using a 100 basis point change, the price value of a basis point simply uses a 1 basis point change. It does not matter if there is an increase or decrease in rates, because such a small move in rates will be about the same in either direction. This may also be referred to as DV01, or the dollar value change for a 1 bp move.

Basis points are also used when referring to the cost of mutual funds and exchange-traded funds (ETFs). A mutual fund that has an annual management expense ratio (MER) of 0.15% will be quoted as having 15 bps. When funds are compared, basis points is used to provide a clearer understanding of the difference between the cost of investment funds. For example, an analyst may state that a fund with 0.35% in expenses is 10 basis points lower than another with an annual expense of 0.45%.

details can refer below,

Read more: Basis Point (BPS) | Investopedia https://www.investopedia.com/terms/b/basispoint.asp#ixzz5KoXLe2wk

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AGM - MBSB - 25 Jun 2018

Overall 
Door gift - Tumbler (MBSB)
Break fast box provided.

Key Highlight
1) The impairment program is done in last Q4 2017 already.
means future earning should be much better as the impairment program done.
but now it is converted into a bank will need to spend much on IT system and Online portals and Apps many works still need to be done for this new bank.
2) just started to offer current banking account from MBSB.

Future prospect should be fine as long as the impairment is low for future.
Think it will need more time before it can be stabilized as syariah bank.

Book Review - 股票勝經 (龔成)

Summary
Overall this book teach much more about stock investing and how to choose and buy quality stock.
for what you as a consumer saw and test used before.
also it gives a few example to choose quality/good stock.
Quote : " Investing is to earn Asset Not Cash" reasons being cash in long run will depreciate but asset in long run will only appreciated.


Stock that is bad will have syndrome like below,

The way to count for discounted cash flow as below,

Overall is what i much interested is the portfolio management which comprise of below,
lesson learn would be investing to earn Asset not to earn $ only. Asset in long run will be much valuable compare to cash it self.

To make your stock portfolio balance should choose stock carefully with covering of industry so that when one of the industry not performing others industry still fine. similar to don't put all eggs inside one bucket.