Thursday 30 April 2020

ALLIANZ最新年度财政报告


ALLIANZ前几天刚出炉了年度财政报告，
那么理所当然地得来看一下。

 首先是过去5年的表现：
每年都有进步，
很好。

 税前盈利方面：
这两年的盈利可说是突飞猛进。

 然后下面的EPS不建议盲目地参考，
最好看Diluted的，
所以下面看Dividend就好：

这两年的股息也可说是年年高升。

 根据Chairman所说，
今年的增长主要是来自Life insurance business:


接下来分别看General Insurance和Life Insurance的表现：
税前盈利进步挺多的。

 不过ALLIANZ在General Insurance市场仍然是领头羊，
市占为12.3%：

General Insurance的生意里面，
单单车险就占了62.6%：


然后Life Insurance:

令人眼前为之一亮的表现。
Life Insurance方面的市占率为8.5%：

 在市场中只排名第5位。

 2019年也是ALLIANZ 与马来西亚HSBC银行合作的第7个年头，
去年从HSBC得到的生意量有35.2%的成长：
 CCS也有18.4%的成长，
难怪Life Insurance的业绩这么好看。

 这里有听到Allianz Life的效率：



下面也有提到说ALLIANZ这个名字的品牌价值提升：

以上就是本次关于ALLIANZ最新年度和季度财政报告的要点，
若你觉得有所不足的话，
欢迎到BURSA网站自己下载一份来细读。

 至于ALLIANZ值不值得投资呢？

 就像我以前说过的，
一切得看以后即将实施的MFRS17会计准则。

 投资就是自己思考，自己做决定。

 感谢阅读。

 以上言论没有任何买卖建议，
大家买卖自负。













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ALLIANZ Latest Annual Report


Since ALLIANZ released the latest annual report few days ago,
of course I must have a look at it.

 First,
let's look at the past 5 years performance:
Every year also got improvement,
good.

 As for Profit Before Tax:


The profit improved a lot for the past two years.

 Well,
as for below,
I think is better look at the Diluted EPS instead of the basic EPS....

The dividend also grew a lot for the past two years.

 According to Chairman's statement,
The growth was mainly from Life insurance segment:


Let's look at the performance of General Insurance and Life Insurance separately:

 The profit improved a lot.

 ALLIANZ still the market leader in General Insurance market,
the market share is 12.3%:
Motor insurance took up 62.6% of the total general insurance of ALLIANZ:


Next,
the Life Insurance sgement:

The profit improvement is excellent.

 The market share of ALLIANZ in life insurance market is 8.5% :

 Ranking as the fifth only.

 Year 2019 also marked the 7th year of partnership with HSBC Malaysia,
the ANP from HSBC grew by 35.2% last year:
The CCS also grew by 18.4% in ANP,
no wonder the result of Life Insurance was so good.

 Here also talked about how fast the company proceed and issued a policy: 




The brand of ALLIANZ is actually grew in value:


That's all for the important points of latest annual report and quarter report,
if you feel like something is lacking,
feel free to go to BURSA website to download and read it.

 As for is it worthy to invest at ALLIANZ?

 Like what I said before,
it depends on what will happen after applying the new MFRS17 accounting standard soon.

 Investment is about doing own thinking, making own decision.

 Thanks for reading.

I don't provide any buying/selling suggestion above,
please make your own investment decision and be responsible with it.

 List of articles year 2018
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Thursday 23 April 2020

My buying & selling record from 13rd to 23rd March 2020


As you all know,
I am not a person who likes to open up about my buying & selling record for investment,
usually I would just update my investment portfolio once in a 3 months time at here.

 Well,
since I don't need to open any investment class to get students and earn the fees,
so there is no reason for me to show off.

 Also,
sometimes I feel very ashamed to show everyone those investment which I lost my money at~

 HOWEVER during March 2020,
a sudden drop of the shares market happened which caused by the Covid-19.

 Even though I invested for almost 10 years,
this was the first time I became panic and did some irrational decisions.

 THUS,
I think is necessary for me to record down all the buying & selling decision which I made around that time,
so that it will be a reference for the future.

 FRANKLY SPEAKING,
at first when the Covid-19 started to appear,
I compared it with SARS and assumed that it will not affect Malaysia very much just like SARS.

 Until February,
even the new cases in China started to drop,
so I thought that this virus will soon be over and I still ALL IN at shares market.

 At March,
the virus slapped me on my face.
Ouch!

 Before looking at my investment decision from 13rd to 23rd March,
let's have a look at my portfolio at 1st January 2020:
(There was some changes on my portfolio before 13rd March,
but it wasn't related with Covid-19 so I will not talk about it here.)
1) HARTA (26%)
2) AEONCR (20%)
3) LPI (14%)
4) ALLIANZ (13%)
5) STMKB (11%)
6) AEON (8%)
7) NESTLE (6%)
8) PANAMY (2%)
At 13rd March:
(Around the days when the new cases started to grow in 3 digits number)
I sold almost half of my holding in ALLIANZ at RM13.58,
and I sold 1/4 of my holding in STMKB at RM3.99.
Aiks............

 Then I was thinking that the glove counters might be worthy to invest,
so I bought some KOSSAN shares at RM5.06,
and TOPGLOV at RM6.06.
Then the weekend came.
I was very anxious because more and more new cases,
and the newly formed government was like no action at all...
16th March:
I sold 1/3 of my holding in AEONCR at RM11.50,
and sold all of my holding in AEON at RM0.93,
only keeping 100 shares for memory.
Aiks...........

 At the same day,
I bought more KOSSAN shares at RM5.01.
17th March:

 The day when I was the closest to Margin Call.

 I sold 1/3 of my holding in ALLIANZ at RM12.30,
and sold half of my holding in STMKB at RM3.35,
and sold 1/3 of my holding in AEONCR at RM9.40,
and sold my NESTLE shares at RM123.10, (I am idiot.........)
and sold 2/3 of my holding in HARTA at RM5.95.
(which was my worst decision ever,
if I kept all my holding in HARTA,
my investment return will be not more than -10%.)

 Until that day,
my holding in STMKB left only 1/3 if comparing with early March......
19th March:
I sold 1/3 of my holding in ALLIANZ at RM11.90.
Aiks.........

 Thus,
my holding in ALLIANZ left only 1/4 if comparing with early March............
20th March:
I sold 1/4 of my holding in HARTA at RM6.41.
Aiks..........

 Thus,
my holding in HARTA left only 1/4 if comparing with early March.............
23rd March:
I sold 1/3 of my holding in AEONCR at RM7.89,
and I sold half of my holding in TOPGLOV at RM6.15.
Aiks..........

 Thus,
my holding in AEONCR left only 1/3 if comparing with early March............

 At the same day,
the financing amount of my Margin account dropped to less than RM10,000.
(usually I used more than RM100,000.)

 My investment return was around -30%.

 At the same time,
I started to feel that I oversold.

 Thus,
I started to buy shares at the following days........

 That's all for now,
I will write about my buying & selling record at 24th March 2020 at my next article.

 Thanks for reading.

 I don't provide any buying/selling suggestion above,
please make your own investment decision and be responsible with it.

 List of articles year 2018
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我在2020年3月13日~23日之间的投资记录


众所周知，
我不是一个喜欢公开自己的股市交易记录之人，
充其量就是每三个月在这里更新一下我的投资组合。

 毕竟我又没有开课收学生来赚学费，
所以也没有必要拿自己的交易记录来钓学生。

 而且，
有些亏钱的投资，
实在不好意思公开~

 不过在2020年的3月，
一场因为疫情引起的股市大跌，
让投资接近10年的我也惊慌失措，
做出了很多不理性的投资决定。

 所以，
我觉得有必要记录一下那段时间的买卖决定，
检讨检讨并拿来当日后的借鉴。

 说实话，
面对这次的疫情，
我一开始就拿2003年的SARS疫情来参考，
毕竟那次疫情也是在中国先爆发。

 当时SARS并没有严重影响到马来西亚，
所以我原本以为这次也会这样。

 一直到2月，
中国甚至开始确诊病例下降，
我还天真地以为疫情就快结束了，
所以我一直都ALL IN在股市中。

 然后............
3月时我就被狠狠地打脸了。

 在看回3月13日到23日之间的投资买卖记录之前，
先来回顾一下我在2020年1月1日的投资组合：
(1月1日到3月13日之间投资组合也有所变动，
但无关疫情，所以不提也罢。)
1) HARTA (26%)
2) AEONCR (20%)
3) LPI (14%)
4) ALLIANZ (13%)
5) STMKB (11%)
6) AEON (8%)
7) NESTLE (6%)
8) PANAMY (2%)
首先是疫情开始在马来西亚以3位数增长头几天的3月13日：
我在RM13.58的价位卖掉了将近一半的ALLIANZ，
并在RM3.99的价位卖掉了四分之一的STMKB，
唉.......

 卖出的同时，
考虑到疫情对手套股有利，
我也分别在RM5.06的价位买进KOSSAN，
在RM6.06的价位买进TOPGLOV。
然后度过了一个忧虑的周末，
特别是确诊病患不断增加，
但新政府却没有任何行动，
更是令我焦虑不已。
3月16日：
我在RM11.50的价位卖掉三分之一的AEONCR，
并在RM0.93的价位卖完AEON，只留100股做纪念。
唉............

 同一天，
我继续在RM5.01的价位加码KOSSAN。
3月17日：

 当天是我最接近Margin Call的一天。

 我在RM12.30的价位卖掉三分之一的ALLIANZ，
在RM3.35左右的价位卖掉一半的STMKB，
在RM9.40左右的价位卖掉三分之一的AEONCR，
在RM123.10的价位卖掉NESTLE，（笨啊.....）
并在RM5.95左右的价位卖掉三分之二的HARTA。
(这也是我最愚蠢的决定，
要是保留HARTA的话，
投资亏损会少过10%。)

 至此，
STMKB的持股数量只有3月头的三分之一............
3月19日：
我在RM11.90的价位卖掉三分之一的ALLIANZ。
唉..........

 至此，
ALLIANZ的持股数量只有3月头的四分之一.........
3月20日：
我在RM6.41的价位卖掉四分之一的HARTA。
唉...........

 至此，
HARTA的持股数量只有3月头的四分之一.............
3月23日：
我在RM7.89的价位卖掉三分之一的AEONCR，
并在RM6.15的价位卖掉一半的TOPGLOV。
唉...............

 至此，
AEONCR的持股数量只有3月头的三分之一.........
当天，
我的Margin用量从高峰期的6位数降到了4位数，
在股市亏损了超过30%。

 同时，
我也开始觉得好像卖太多了。

 于是，
在接下来的日子我又开始买进股票............

 今天就写到这里，
3月24日开始的买卖记录就留到下一篇文章。

 感谢阅读。

以上言论没有任何买卖建议，
大家买卖自负。










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Tuesday 14 April 2020

AEONCR最新季度财政报告


原本想说写一篇题目为《写在疫情之时》，
但想来想去，
却写不出任何东西。

 最后，
还是决定写一写AEONCR最新的季度财政报告好了。

 首先来看看业绩：

营业额还算有所进步的，
但利息支出也高了很多，
所以第4季的盈利只比去年同一季好看一点点。

 NPL ratio也从去年的2.04%跌到今年的1.92%：

Operating expense占营业额的比例也从去年的62.3%降到60.4%：

Funding cost则因为receivables的增加而水涨船高。

 这一次也有谈到疫情对公司的冲击：

基本上就只有self-service terminals，
以及上网申请贷款和网上付款在运作而已。

 公司对未来的展望：

最后是股息：

一股只有14sen，
跟去年同时期的22.35sen相比少了很多。

 不过还好，
至少还肯派息~

以上就是本次最新季度财政报告的要点，
若你觉得有所不足的话，
欢迎到BURSA网站自己下载一份来细读。

 AEONCR的股价已经从年初的RM14.14跌到现在的RM9以下，
是令我在今年投资亏损的主因之一。

 你问我现在值不值得投资？

 我不知道。

 毕竟面对现在这百年难得一遇的瘟疫，
又有谁能够预知未来的发展呢？

 我当时就认为疫情最多就是像当年的SARS一样，
不会感染超过百万人。

 结果？？

 我的经验令我狠狠地被打脸了。

 在这里还是奉劝大家，
投资就是自己思考，自己做决定，
不过你如果想要跟一些投资大师的意见也可以。

 有的投资大师说接下来还会大跌，
有的说只会大起，
有的说情势不明朗，股价不会有变动。

 三个结果，
总会有一个中。

 反正这么多投资大师，
那么你跟对的机率是三分之一~~~

 感谢阅读。

 以上言论没有任何买卖建议，
大家买卖自负。



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AEONCR Latest Quarter Financial Report


Originally I wanted to write an article titled <<During the pandemic.......>>,
however I wasn't able to write down anything after squeezing my brain to the fullest.

 THUS,
I decided to just write about the latest quarter financial report of AEONCR which was released few days ago.

 First,
let's look at the financial result:

The revenue grew but so did the interest expense,
thus the quarter profit was only slightly better than the 4th quarter last year.

 Good news is that the NPL ratio dropped from 2.04% to 1.92%:

The ratio of total operating expense against revenue also dropped from 62.3% to 60.4%:

The funding cost increased accordingly to the growth of receivables.

 The impact of COVID-19 pandemic also being mentioned:

Basically only the self-service terminals,
online application and online payment still functioning now.

 Prospects for current year:

Lastly,
the final dividend:

Only 14.00 sen per share,
less than the 22.35 sen per share last year....

 Well,
atleast the company still willing to distribute dividend~

 That's all for the important points of latest financial report,
if you feel like something is lacking,
feel free to go to BURSA website to download and read it.

 The shares price of AEONCR dropped from RM14.14 until now below RM9,
the main reason of my negative return currently.

 Is it worthy to invest at AEONCR now?

 I DON'T KNOW.

 The current pandemic is huge and causing a lot of damages to the economic,
which no one had ever experienced before,
so is hard to predict what will happen next.

 At first,
I predicted that it will just be like SARS last time,
it won't affect more than millions people.

 At the end?

 My SARS experience resulted a punch on my face.

  Anyway,
investment is very personal,
and you should think by yourself,
make your own decision.

 Well,
if you want to follow the advice from some so called investment master also can.

 Some investment masters said that the market will drop more,
some said will rise,
some said the situation still unclear thus only a small fluctuation on the shares price.

 The three outcomes listed above,
one of it will definitely come true.

 Since there are so many investment masters out there,
your chance of following an advice correctly is 1/3 ~~~

 Thanks for reading.

 I don't provide any buying/selling suggestion above,
please make your own investment decision and be responsible with it.

 List of articles year 2018



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