定期存款(Fixed Deposits)

定期存款是指存款人将现金存入在银行的定期储蓄账户内，事先约定以固定期限为储蓄时间，以高于活期存款的利率获得回报，期满后可领取本金和利息的一种储蓄形式。

A fixed deposit is a financial instrument provided by banks which provides investors with a higher rate of interest than a regular savings account, until the given maturity date.

左边是马来西亚各大银行在2017年的定存利息。一般我们都会有一笔钱放在银行，临时有急事时可以使用。
以刚工作的朋友，最好有一笔半年生活费的存款。
多余的可以考虑放在定期存款。


12期定存法：
每月放一笔你存下钱，那明年每个月你都会得到你的存款+利息，有急用就可以使用，也不会影响存款利息，不急就继续放入定期存款，让它钱滚钱。

定存法来自: Ali Blog













不过对我而言，除了一笔存款用作急事时使用，我会放入股票中，一些股票达到5%的股息是没问题的。而且公司价格还会上涨，这就是为什么我不放入定期存款。当然股市有风险，这点银行是没有的。我也不鼓励没有对该公司做研究就盲目的购买股票。或者可以考虑Islamic 的Unit Trust，虽然华人去买一般都满了。

季报2016第四季

15-02-17
BPLANT
-Gain on disposal 2016
-2017 even more gain on disposal about 3 times than 2016 profit

RCECAP
-cost growth

16-02-17
IBHD
-will have a good growth

ELKDESA
-stable growth, reach market price

20-02-17
INNO
-CG, due to increase in CPO and PK sales volume and prices , timber logging activity contract expired on 4th June 2016, over value

SALUTE
-reported a 27% increased in its net profit compare to a year ago
-VG, can monitor,

PADINI
-net profit jumped 64.7% to RM54.47 million comare to a year ago, on improved gross profit margins as there were less markdowns during the quarter under review.
-CG, a bit under value

-PCHEM
-over value

DNEX
-VG,cash company, a bit under value
-acquisition revenue of OGPC Group
-The Group completed its transformation to become a stronger company

KRONO
-CG, a bit over value, can monitor good growth.

21-02-17
HLFG
-CG, under value
-higher revenue, lower operating expenses and lower allowance for impairment losses on loans, advances and financing. (收入提高、营运开销降低，以及贷款、透支和融资减值损失拨备减少)

KPJ
-VG, over value

GHLSYS
-VG, over value
-GSL 的Transaction Payment Acquisition (TPA)占了大部分营业额
-如果支付宝引进马来西亚，绝对造成重大冲击，在中国现在人们开始使用支付宝或者微信支付来付款，而不是现金或者信用卡，相信未来大马也可能往这方面改变

TNLOGIS
-CG, a bit under value
-NG运输费仍处于2011年以来的低点
-在未来两年，更多新建好的LNG运输船将投入市场，直至2019年供应才渐渐减少。估计今年有42艘新船交付，明年为40艘。
-巴生加里岛建第三座码头,到时可能令港口供应过剩和竞争恶化，对现有业者带来负面冲击。无论如何，此计划仍在初步阶段，长期才会影响西港。
-2017年船运和港口领域前景毫无振奋，预料成长平平
-快递领域,因东盟电子商务潜能庞大,但需要至少一年才可看到电子商务展现催化动力。
-TNLOGIS 将会把Warehouse拆成REIT,大多数的收入都是在Warehouse那边。

IGB
Property,under value

LATITUD
-CG

IOIPG
-VG, good growth, under value

FLBHD
-hardwood
-CG, reach market price

22-02-17
YSPSAH
-pharmaceutical companies
-RISK:Cost control problem, lower product margin, involved in foreign exchange trading
-slow grow

23-02-17（今天是朋友做的，偷偷拿来用..^^）
TUNEPRO
-VG

NOTION
-CG,VG

GTRONIC
-VG

INARI
-VG,CG

HOVID
-VG

GESHEN
-CG,VG

SLP
-CG,VG

GENTING
-VG,CG

GENM
-VG.CG

KOSSAN
-VG
-

24-02-17
CG
-CMSB
-PWROOT
-RUBBEREX
-PERSONA
-EKOVEST
-SUPERMX
-ALLIANZ
-WANGZHG
-HEVEA
-VITROX
-EFORCE
-PSIPTEK

VG&CG
-BPPLAS






*CG:Increase of revenue or cost control
*VG:Conpany have expension in new market or build new plants
达到市价或者高于市价的股票不会放入我季报研究

OSK浅谈

OSK-  Properties

(a)Business
-Property Development & Property Investment and Management (45.5%)
-Construction (3.7%)
-Industries : Cables,wall panels and trading of building materials (13.5%)
-Hospitality: Hotels and Resorts,Vacation Club (LOSS)
-Financial Services and Investment Holding (46.6% )

(b)Market
97% mainly in Malaysia

(c)Performance
-Year to date 2016 3Q, revenue 3 times vs year to date 3Q 2015, due to OSK Property Holdings Berhad and PJ Development Holdings Berhad  acquired in August 2015

-pre-tax profit increased by 48% due to higher contribution by Financial Services and Investment Holding Segment; and earnings generated by OSKPH and PJDH, partly offset by interest expenses incurred for the acquisitions of OSKPH and PJDH

(d)Protential Benefit
 -Hospitality Segment should perform better in the year end holiday season.
-Financial Services expected to do well and RHB group is expected to do well

(f)Target price
2 Billion capital
Current Price RM1.44
Current PE =8
PE 10 = 1.8
PE 12 = 2.16

Currently is an undervalue price and rencently being collected by 第一天

周息率(Dividend Yield)

股息算法：
一年所有派出的股息÷现在的股价X100=回报率（%）

Example:  PBBANK
2016年派出的股息：58sen
当前股价 ：RM 20

0.58 ÷ 20 x 100 = 2.9%

2.9%也就跟放银行差不多，不过看头在于股价会上涨。
如果喜欢高股息的可以选择5%回报率以上以及业绩稳定的公司

该在那里止损 (When To Stop Loss)

Break Even Table

Losses	Recovery Needed
8%	8.7%
10%	11%
20%	25%
50%	100%
80%	500%

例子：

如果买了股值 RM 100  如果亏了RM10 ，剩下RM 90 想赚回RM 10 难吗？不难

但如果亏了RM 50 ，想赚回 RM 50 难吗？ 难，你得有一倍的回酬率100%

所以我们应该哪里止损呢？

General Rule: Technical cut loss should start at 7% - 8%

你是不是也是这样，如果一个股票RM2，跌到RM 1.80 ，你可能还在等它回升，跌倒RM1.50，你能做的只有等。等你在也不能忍受时再卖出，那当时等了多久它回升又或者一直亏？

俗话说得好：留得青山在，不怕没柴烧。止损的意义就是保证你能在市场中长久地生存。

如果有两人：一个等了一年，回升保本时卖了;另一个把止损与RM 1.80 再投入其他股票，赚了。你觉得那个比较行？而且你确定它能再保本回升吗？

当股票下跌时，你就该研究。

1)如果公司基本没有出现大问题，那么此时就不该止损。

2)如果股票上升势头良好就不该止损。

此规则只适合给中短期买家，对长期投资如果不是大问题就没有这样重要。

如何估算股价( how to estimate the share price)

较为简单的估价模式有相对法(Relative Method)比如P/E，P/S，P/B等。
以及绝对值法(Absolute Method)的现金流量折现法(Discounted Cash Flow Model)比如DCM，DDM等。

P/E 是给中短期的，DCF是给长期的。

Warren Buffett 都是用DCF，可你不能学他，他看得太长远5年10年20年，不是每个人都等得起，而且股价跌他买，再跌他再买，他预算的价钱已经是很久很久以后的事了。当然如果你买蓝筹股，还是可以用，只是这个方法这有部分人用。

我最会的就是P/E（本益比）。一般也只用这个算法。
下面我教你怎样算。

Price=RM5.66 (04-03-16)

Earning per Share= 11.9+7.5+7.5+20.3+18.5=58.2

P/E= 5.66/58.2= 9.72本益比

「本益比」也可视为 投入成本 和 每年收益 的比例

将它想像成「花多久才会回本」的概念，将更容易理解

以举例来说：

RHBCAP股价 RM5.66、EPS 为 58.2 ，本益比是 9.72

也就是投入RM5.66买进这股，一年赚 RM0.58，要 9 年才可以回本

现在是9.72本益比，我们不要求高只求他以后有14本益比，14x0.58=RM8.12（估价）

然后我们给予20%的折扣RM8.12 x 80%=RM6.50

6.5~8.12就是我们卖出的范围

"I would rather be vaguely right than precisely wrong"

模糊的正确胜过于精确的错误

好股票的本益比，最多不应该超过 20 倍

合理的本益比，平均大约是 15 倍

一般上在牛市里，龙头股的本益比低于15和二线股的本益比低于10算便宜。

看「本益比」 应注意的 4 大重点

1. 景气循环股应「买在高本益比、卖在低本益比」

2. 给予「成长股」较高的本益比

3. 從「未來」的角度來看本益比

4. 计算本益比的 EPS 应排除「业外获利」-不然本益比会偏低

选股还是得做功课，本益比只是来做参考是否价格偏高或偏低。

如何获取大马股市资讯

NO 1: Bursa Malaysia
这是马来西亚官方股票交易所，所以年报，季报，任何公司发出的通知都会第一时间在这里。

NO 2: The Edge Markets
英文的网站，每天都会有公司新的资讯，非常优秀，是马来西亚最大的股票资讯网站。

NO 3: Malaysiastock.biz
年报，季报，在这都会有。还有发放的股息，以及简单的本益比。我最常用的网站。

NO 4: KLSE Screener
这手机app是我最常用的，虽然有网页版，有即时股价，简单的数据，季报，股息。最重要是当天的新闻：The Edge,星洲日报，南洋商报，The Star等。都会出现在这，不必特别需要去看财经版。我最常用的手机app。

NO 5: 阅读报章的财经版
这样就可以知道马股以及全球经济的走势。

NO 6: 上网阅读前辈的投资分享
第一天，Ali Invest，Harry的涂鸦笔记本，等等。在我Blog右角有这些Blogger的连接。

NO 7:购买投资书籍阅读
例如冷眼以及巴菲特的相关作品,最好是关于马来西亚股市的都会令你受益良多。

2017一些看好的股票

其中我比较喜欢Matrix,Insas,Inari,Penta,Scicom,Mpi 
这些是以上我觉得最好的。

不过Insas管理层有问题，这点是需要注意的。
以上只是我选股的第一个步骤。

本部落格一切言论和资料纯粹是我本人个人的参考记录, 绝无任何买卖建议。 任何人因看此部落格的文章而造成任何投资损失, 恕不负责。

浅谈Taann

i) stronger US dollar movement (QoQ: +8.4%), closing at 4.4862
ii) a jump in CPO prices (YoY: +36.5%, QoQ: +12%), averaging at RM2,948/mt.
iii) decent dividend yield

- plantation key earnings
- timber segment is expected to experience margin squeeze because of softer timber prices but due to Tokyo Olympics 2020 to revive demand for plywood and expect plywood prices to recover
-FY17 fresh fruit bunch is expected to grow 10%-13%,

-20164Q effect of El Nino expect less FFB production compared to last year.

-October 2016, acquire Agrogreen Ventures Sdn. Bhd, 5,090/5280 hectares have been planted with oil palms aged from 1 to 5 years.

Planted Area 2015 (ha)
Mature (4th – 16th Years) 34,138
Immature (2nd – 3rd Years) 5,110
Young (1st Year) 1,893

RISK
-higher fertilizer cost weighed in due to weaker ringgit
-CPO price going lower (every RM100 CPO price, influence earnings about 5%)
-Being sue by the plaintiffs claimed abbout approximately 450 hectares, The High Court allowing the plaintiffs’ claim against the defendants on July 2014. Taan appeals against the High Court’s ruling, the hearing of the appeal on 20 October 2016 has been postponed and hearing date has not been fixed by the Court of Appeal yet.
-Being sue by the plaintiffs claimed about 719 hectares ,On 13 October 2015, the plaintiff refiled the Writ and Statement of Claim. The trial of the case has ended on 4th November 2016. The High Court has given directions to prepare written submissions and bundles of authorities. Parties will exchange submissions and the Court has fixed clarification in January 2017.

Target price (current RM4.19)
EPS (10+10+8+8) x15PE   = RM5.4
EPS 10x4Qx15PE = RM6
latest EPS 3Q2016 11.71

本部落格一切言论和资料纯粹是我本人个人的参考记录, 绝无任何买卖建议。 任何人因看此部落格的文章而造成任何投资损失, 恕不负责。

CSCSTEL-钢铁股

CSC STEEL HOLDINGS BERHAD

-CSCSTEL 是 China Steel Corporation 的子公司
-  China Steel Corporation 源自于台湾，成立于1970年左右，是台湾最大的钢铁制造商，在世界排名第23名

Strengths	Weaknesses
-净现金公司，没有负债 -管理层，技术和产品都是母公司支持 -稳定的高股息	-本地市场占有率一路走低 -钢铁成本比中国高
Opportunities	Threats
-中国减产，有机会夺回市场占有率 -Megasteel 停止运作，不需要以高价购买原料	-钢铁价格上涨导致盈利率受损 -外劳人头税转移给公司(2018) -马来西亚最低薪金制度改变 -原料供给短缺

总结

1 从过去的记录看来，CSCSTEL 是一家赚副稳定的公司除了2014年亏损以外，而且每年都派出利息，回筹稳定。CSCSTEL的以往派息都超过了60%。因此今年2月的业绩出炉，CSCSTEL有望派发10 - 12仙或者更高的股息。

2 以目前技术面来看，这次的季报可能引起了新一次涨潮，但是还未确定。根据最新季报2016年Q4前两个月的业绩有所提升，原因是钢铁价格走高，但原料的价格也跟着提高。因此公司Q4的盈利的表现要看公司能不能把成本转嫁到下游的客户身上。

3 以目前 PE=8.55 来看，应该可以来到PE 10，即RM 2.4。最新的涨潮已经过去，现在调整中，买入大跌大涨的可能性不大，除非业绩不好不然下跌可能性不大，但目前不是钢铁股的潮流。

4 暂时不推荐短期买家购买。

本部落格一切言论和资料纯粹是我本人个人的参考记录, 绝无任何买卖建议。 任何人因看此部落格的文章而造成任何投资损失, 恕不负责。

Where to open trading account in Malaysia

想要在马来西亚买股票，你可能有不少疑问或问题，以下问答希望可以帮你


1.) 去那裡開戶 ? 
所有受承认的SECURITIES（证卷行），最好是靠近您居住的地方
开户口条件：最少18-21岁（每间证卷行都不一样）

证卷行名单http://www.bursamalaysia.com/market/securities/equities/brokers/list-of-participating-organisations

2.) 開戶多少錢 ?
证卷行开户口（Trading Account - Nominee Account / Direct Account)和CDS Account。
CDS户口需付RM10.00。
Trading Account户口收费每间正卷行不一样，有些是免费。

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。
在这个户口的股票注册拥有人和受益人的是户口拥有人。

- 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。
在这个户口的股票注册拥有人是该securities;不过受益人的是户口拥有人。

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0.42%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。

3。馬來西亞一張是多少股 ? 是不是最少都要買一張 ? 
这里称为1LOT，1LOT＝100SHARE。这也就是说若股价=RM1.2，那1lot的价格就等于RM1.20X100 = RM120.00。

4。买卖股票的费用：
a. Brokerage
大多数的股票行，打电话的brokerage fee是 0.7%，上网的是 0.42%。IntraDay 0.10%。
还有一个叫做 minimum brokage，打电话的是RM40，上网的是RM28/ RM12（有几个公司的最低是12，如pbbank, hongleong bank）

假设你买一个股票，总数 RM 2000。

打电话就被charge RM 14块，但由于你没超过 那个 40块的最低限制，所以你就被逼给RM40的水钱。

上网的话，本来应该被charge RM 8.4，但因为没超过12块就被逼要给12块。

b. StampDuty
每一个一千块就给一个RM1

RM1000的股票要给1块
RM1200的股票要给2块。
RM1800的股票给2块
RM2000的股票给2块
RM2100的股票就3块。
由此类推

c. Clearing Fee，多数都是charge 0.03%

2000块的股票才收你 6毛钱。

5. 转证卷行费用（Moving Cost）
转一个counter的股票收RM10。如果转2个公司的股票就RM20。
不过有些证卷行会代客偿还（reimburse）

6. 请问股票有没有expiry date??
除了Warrant之外,股票是沒有expiry date的.如果你是用100%本錢來購買股票,你可以享有無期限的持有此股票,除非這間公司經營不當,導至交易停牌或削資,否則是不會影響你手中的股票.

7. 买卖股票
在市場上买卖取決于供求的數量，买家和卖家兩派大多數都為了股价要价还价，堅持不下，只要你要求的价格合理，不怕找不到买家和卖家。

8. 场外交易，就是 “公开市场以外的交易” 。
direct deal = 场外交易
married deal = 私下交易 ，算是场外交易的一种。

只要涉及的股票数额很大的话 (比如说关系到 “top 30大股东” 的利益) , 那么，几天后， 就要呈报,annoucement 是可以找到的。
好处是，双方不用去股市去跟别人抢股票。。。
只要一个愿意买，一个愿意卖，就成交


Wanna trading stock in Malaysia? You may have some question, hope the following answer are helping you.

1.)Where to open an account?
Authorised Agent (commercial banks, investments banks, stock brokers and investment advisors), preferably go to which is close to where you live, if not they may reject due of it.
 Condition : Minimum 18-21 years old (it may differ per securities line)

Link:http://www.bursamalaysia.com/market/securities/equities/brokers/list-of-participating-organisations

2.)Fee
(Trading Account - Nominee Account / Direct Account) and CDS account.
Trading Account Account Fee different between the Authorised Agent, some are free.
CDS account -RM10.00

CDS (Central Depository System) Account, is the electronic store stock account, which is required by the Government of Malaysia.

Trading Account:
- You can open a Direct Account, all the broker have to provide this service. You buy a stock will put your name, which means the company will know that you are one of their shareholders. As for the dividend, the company will send a check directly to you. If the company wants to send additional shares, vouchers, etc., you need to go through the formalities by yourself (filling out forms, pay checks, etc.), all to be hands-on.
The owner of the shares and the beneficiary is the owner of the account.
- Alternatively, you can open a Nominee Account, banks generally have to provide this service. You buy a stock will put the name of the bank, but benificial is to your name, that is to say the company does not know that you are one of their shareholders. As for the dividend, the company will send money to the bank, then bank transfers into your trading account, but the bank will charge some of the costs (RM2 more or less). If the company wants to send additional shares, vouchers, etc., the bank will seal the deal, you only need to pay a small fee, you do not have to hands-on.
In this owner of the shares is to bank; however, the beneficiary is to you.

Nominee Account is one of the services the bank, so you can transfer money directly from your bank account into your trading account, when take the money ,you can directly transfer into your bank account, but you need to signature.

Whether Direct Account or Nominee Account, you can buy and sell stocks online, but you have to ask the bank or stock agent, how to buy and sell online.

Of course, if you are trading online, because not have middleman , so the brokerage fee would be cheaper, about 0.42%, if you call remisier, told him to buy you sell, then you have to pay higher brokerage fee , about 0.7% or more.

3.)The minumum purchase volume of a stock.
we call as 1LOT, 1LOT = 100SHARE. This means that if the stock price = RM1.2, the price is equal to that 1lot (RM1.20X100 = RM120.00)

4. The cost of buying and selling stocks:
a. Brokerage
Most stock lines, call brokerage fee is 0.7%, online trading is 0.42%. IntraDay 0.10%.
Another one is called minimum brokage, the caller was RM40, the Internet is RM28 / RM12 (several companies minimum is 12, such as pbbank, hongleong bank)

Suppose you buy a stock, the amount is RM 2000.

Call was charge RM14, but because you are no more than the minimum limit of 40, so you are forced to pay RM40

Online, it should have been charge RM 8.4, but because no more than 12 will be forced to give RM12.

b. StampDuty
Each one thousand gave a RM1

RM1000 shares need to pay RM1
RM1200 shares need to pay RM2
RM1800 shares need to pay RM2
RM2000 shares need to pay RM2
RM2100 shares need to pay RM3
By analogy

c. Clearing Fee, most of them charge 0.03%

2000 shares only charge you 6 cents.

5.) The securities bank transfer costs (Moving Cost)
Turn a counter shares pay RM10. If have 2 company's stock then is RM20.
But some securities bank Valet repay (reimburse)

6. Does the stock have an expiry date ??
In addition to the Warrant, the stock is no expiry date. If you are using 100% of the capital to buy stock, you can enjoy holding this stock indefinitely, unless the company operating properly, leading to the suspension of trading or funding cuts, or else will not affect your stock.

7.)The sale of stock
The traded in the market depends on supply and demand, buyers and sellers are most factions asking for bargain, as long as you ask the price reasonable, not afraid can not find buyers and sellers.

8.) OTC, is the "open market transactions outside."
direct deal = OTC
married deal = private transactions, be regarded as an OTC.

As long as the stock if the amount involved is large (for example, related to the 'top 30 major shareholders' interests), then a few days later, they must report, an annoucement can be found.
Benefit is that the two sides do not have to talk to other people grab stocks .

Just a willingness to buy, willing to sell, then on a deal


摘自：投資者日記 
http://readforalife.blogspot.com/2008/11/blog-post_13.html