Tuesday 30 June 2020

2020年1月~6月文章目录

每个月的最后一天都会做个目录，方便自己也方便大家~


2020年6月：
我的2020年上半年投资成绩
KAWAN股东大会2020
我在2020年4月9日~28日之间的投资记录


2020年5月：
我在2020年3月24日~4月8日之间的投资记录
NESTLE最新季度财政报告


2020年4月：
ALLIANZ最新年度财政报告
我在2020年3月13日~23日之间的投资记录
AEONCR最新季度财政报告


2020年3月：
我的2020年第1季度投资回酬
TOPGLOV最新季度财政报告
AEON最新季度财政报告
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List of articles of January~June 2020

I will make a list of articles every last day of the month,
so that is easier for me and for everyone to refer~
June 2020:
My investment return for 1st half year 2020 
KAWAN AGM 2020
My buying & selling record from 9th to 28th April 2020
May 2020:
My buying & selling record from 24th March to 8th April 2020
NESTLE latest quarter financial report
April 2020:
ALLIANZ latest annual report
My buying & selling record between 13rd~23rd March 2020
AEONCR latest quarter financial report


March 2020:
My investment return for 1st quarter 2020
TOPGLOV latest quarter financial report
AEON latest quarter financial report
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我的2020年上半年投资成绩


2020年三月的一场股市大跌，
令我一度蒸发了接近3分之1的身家，
幸好股市在接下来的时间反弹，
我才能够恢复所失去的3分之1身家，
并小赚了一点。

 我的2020年上半年投资成绩为ROA = 5.0%, ROE = 8.6%。

 接下来对比看看2020年头和现在的投资组合，
2020年一开始时，
我的投资组合如下：
1) HARTA (26%)
2) AEONCR (20%)
3) LPI (14%)
4) ALLIANZ (13%)
5) STMKB (11%)
6) AEON (8%)
7) NESTLE (6%)
8) PANAMY (2%)

现在：
1) HARTA (16%)
2) AEONCR (16%)
3) STMKB (15%)
4) ALLIANZ (14%)
5) KOSSAN (13%)
6) ELKDESA (11%)
7) KAWAN (9%)
8) 其他(6%)

 今年的回酬，
主要是靠HARTA，KOSSAN和TOPGLOV所贡献，
原本可以赚更多，
但却被组合内其他公司给拉低了回酬...............

 可能有些人会奇怪明明手套公司上涨了那么多，
但为什么我的回酬连10%都没有。

 好像上面所说的，
我是在失去了3分之1的身家后，
才反弹至如今的正回酬。

 假设说，
我今年年头有100K，
那么大跌后我就只剩下66K左右，
靠着手套公司的大涨，
我才回到108K的水平。

 从66K回到108K，
也就是要靠66K赚回42K，
所以只算我在股市最低点到如今的回酬其实是63.6%。

 在这里顺便写下历年的投资成绩：
2011 : ROE = +28.0%
2012 : ROE = +32.8%
2013 : ROE = +15.0%, ROA = +13.3% (开始使用SMF)
2014 : ROE =  -12.0%, ROA =  - 8.0%
2015 : ROE = +21.6%, ROA = +13.3%
2016 : ROE = +38.0%, ROA = +22.2%
2017 : ROE = +40.5%, ROA = +24.9%
2018 : ROE = +16.0%, ROA = +13.3%
2019 : ROE =  - 3.2% , ROA =  - 2.2%

 关于接下来的投资方向.................

 很多人说接下来经济会越来越差，
一大堆公司会在8月份的财报季节时出炉很烂的业绩，
很多人不愿意消费，
搞借贷的公司会收不回借款，
保险公司会有一堆客户没钱给保费，
手套公司的股价涨太多很危险。

 我不是神，
不知道未来会如何，
但有一样东西我很确定，
就是我不喜欢让我的钱懒惰地躺在银行睡懒觉。

 当然，
很多上岸了的的投资大师会说Cash Is King，
令堂的你上岸了当然可以啦，
就算不在股市赚钱，
单靠那些在银行睡着懒觉的存款就够活到死了。

 我还没捉到足够的鱼，
无法上岸，
也没有资格说什么现金是王。

 还有一点就是，
虽然现在下岸游泳很危险，
可能会受伤，
但却是个累计游泳经验的好机会。

 我还年轻，
这种经验X10的大好机会就算受点伤也不能错过。

 而且，
看回我所投资的公司，
就算受到伤害也不会致命才对。

 当然，
这是我的投资，
不是你的，
因为我不知道你有多少游泳经验，可能你完全是个旱鸭子呢？
也不知道你会不会受点轻伤就哭爹喊娘，搞得像世界末日似的。
最怕是你喜欢推卸责任，受伤了就怪别人，怪大师，怪政府。

 毕竟投资就是自己思考，自己做决定，
并对自己所做的决定负起责任。

 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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My investment return for 1st half year 2020


During March 2020,
the bear market caused me to lose almost 1/3 of my net worth.

 Thankfully the shares market bounced back later,
which enabled me to recover my losses and earned a peanut.

 ANYWAY,
my investment return for 1st half year 2020 is ROA = 5.0%, ROE = 8.6%.

 Below is the comparison of my investment portfolio at the start of year 2020 till now:

 Start of year 2020:
1) HARTA (26%)
2) AEONCR (20%)
3) LPI (14%)
4) ALLIANZ (13%)
5) STMKB (11%)
6) AEON (8%)
7) NESTLE (6%)
8) PANAMY (2%)

 Now:
1) HARTA (16%)
2) AEONCR (16%)
3) STMKB (15%)
4) ALLIANZ (14%)
5) KOSSAN (13%)
6) ELKDESA (11%)
7) KAWAN (9%)
8) Other (6%)

 My return for the 1st half were mostly contributed by glove companies HARTA, KOSSAN and TOPGLOV,
the return could be higher but it was dragged down by other companies in my portfolio........

 Maybe some might wonder that the shares price of glove companies rose so much,
but why is it my return is so low,
even lower than 10%.

 Just like what I mentioned above,
I first lost 1/3 of my net worth,
and now only climbed back to the current positive return.

 For example,
if I have 100K at the start of year 2020,
then I only left with 66K after the bear market.

 Thanks to the glove companies,
I am able to be back to 108K.

 From 66K back to 108K,
I had to earn 42K by investing 66K only,
which means that my return from the lowest point of shares market until now is around 63.6%.

 Anyway,
My investment return for the past few years:
2011 : ROE = +28.0%
2012 : ROE = +32.8%
2013 : ROE = +15.0%, ROA = +13.3% (started using SMF)
2014 : ROE =  -12.0%, ROA =  - 8.0%
2015 : ROE = +21.6%, ROA = +13.3%
2016 : ROE = +38.0%, ROA = +22.2%
2017 : ROE = +40.5%, ROA = +24.9%
2018 : ROE = +16.0%, ROA = +13.3%
2019 : ROE =    -2.2% , ROA =   -3.2%

 As for my investment strategy for the future......................

 A lot of people are saying that the economic will become worse,
a lot of companies will release very ugly financial result during the financial report season at August,
a lot of people not willing to spend money,
a lot of people will not be able to pay back their loan from the financing companies,
a lot of people will not be able to continue paying their insurance,
the shares price of glove companies rose too much and is very dangerous now.

 I am not GOD,
I do not know how will the future become,
but one thing I am sure,
I don't like my money to be a lazy pig by sleeping at the bank doing nothing.

 Well,
a lot of investment gurus always say that CASH IS KING,
of course you can say that if you are very rich,
then even though you don't earn money from shares market,
just rely on the lazy money inside the bank you can live until the day you pass away.

 I am not that rich,
I still need to swim at the sea which is called shares market to catch enough fish to become rich,
so I don't have the qualification to say what cash is king.

 Also,
even though now swimming at shares market is dangerous,
and there is a possibility that we might get hurt,
but is also a good chance to accumulate experience.

 I still not old,
so I will not let this chance of accumulating 10X experiences to slip away fro me,
even though I might get hurt.

 Also,
looking at the companies I investing,
I think I will not become seriously injured which might cause my life.

 Of course,
THIS IS MY INVESTMENT,
NOT YOURS.

 I am not sure how much swimming experience you have,
maybe you have zero experience?

 I am not sure whether when you have a slight injury,
you will cry like a baby,
or feel like the world is going to end.

 I also scare that you like to push away your own responsibility,
like when you are injured,
you will blame other people, blame the investment gurus,
or blame the government.

 ANYWAY,
investment is about doing own thinking,
making own decision,
and you take full responsibility of your 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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Sunday 21 June 2020

KAWAN股东大会2020


在这里先跟期待我会分享整场股东大会的人说声抱歉，
我迟到了，
所以只看到最后的Q&A环节。

 只是在家里收看股东大会居然也会迟到？？

 唉......
我一时忘记了，
想起来时赶快打开直播，
就只看到了Q&A。

 所以我只在这里分享一些在Q&A听到的事项，
问题主要都是由Mr Timothy来回答。

 首先，
就听到了一个好消息。

 今年没有Door Gift，
所以公司会寄给股东价值RM50的voucher，
可以上网购买公司的产品。

 还有就是疫情期间，
公司产品的需求有所上升，
没有收到负面的影响。

 其中一个原因是公司生产"Staple Food"，
就是大众每天都需要吃的食物。

 另外就是在这种时期，
大众也会更想吃“Comfort Food”，
例如从印度移民到美国的新移民都会选择吃Pratha以追求Comforting。

 有股东提出问题，
说因为疫情导致“Ready To Eat”食物需求上升，
所以公司未来会不会更加大力注重在各种地方如便利店、油站等，
销售公司的RTE产品。

 Mr Timothy回答说会想办法增加公司RTE产品的Sales Point，
但因为疫情，
导致很多人变成在家里办公，
反而减少在外用餐，
就像他自己也是在家办公的时间多过来公司。

 因为这样，
公司迅速改变策略，
开始在公司网站销售适合在家里煮热来吃的食物，
如1公斤或500克包装的Chicken Rendang, Curry Chicken,
不过因为赶着推出，
所以包装不是很吸引...........

 有股东提问说为什么Sales Volume增长的幅度比Revenue多，
Mr Timothy答说是因为Sales Volume根据Container计算，
但每个Container里面的Product Mix不一样，
例如出口到澳洲的Container里面都是馒头、包子之类比较占空间的产品，
所以Sales Volume的增长幅度跟销量的增长幅度未必一致，
有时是因为某些产品比较占空间....

 有股东问公司接下来的发展方向，
Mr Timothy答说会继续寻找New market和推出New product，
但New market并非是一定要打入新的国家。

 就像去年，
公司一向来都只销售产品给各个国家的“小印度”和“唐人街”之类的，
但去年就成功打入那些国家的Mainstream market，
如Pratha成功在澳洲的400多间Coles Outlet上架，
美国的150多间Restaurant Depot。(类似食品的批发市场)

 虽然不是新的国家，
但却是同一个国家内的New Market。

 最后，
Mr Timothy还稍微提了提关于Q2的表现，
并说每次当经济不稳定以及衰退时，
都是公司表现得好的时候。

 以上就是大部分的Q&A内容。
接下来就是我自己的一点想法。

 回到股价上，
公司股价在3月大跌时一度接近跌破RM1，
现在已经反弹至RM1.75左右。

 所以现在还值不值得投资？
那就见仁见智了。

 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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KAWAN AGM 2020


First of all,
I would like to apologize to those who expecting me to share about the whole AGM,
the fact is I only watched the Q&A session,
because I was late..........

 How can someone be late to a meeting from home??

 Aiks...............
Well,
I forgotten about the AGM........

 It was when I checking my daily schedule,
only realized it,
so I quickly open the AGM live broadcast,
but only managed to watch the Q&A session.

 So I will just share about what I heard from the Q&A,
which the questions were all answered by Mr Timothy.

 First,
I heard a good news.

 Since there is no door gift this year,
so the company will send every shareholder a RM50 voucher,
to buy products from the company website.

 During the outbreak,
the demand for products rose,
no negative impact.

 One of the reason is because the company produces "Staple Food",
which the food is daily needed.

 Also during this kind of period,
many people will look for "Comfort Food" as well.

 For example,
some Indian people who immigrated to USA might choose to buy Pratha to comfort themselves.

 A shareholder asked that the demand for "Ready To Eat" food rose because of outbreak,
so will the company focus more on selling products at  convenience stores or petrol stations?

 Mr Timothy answered that they will try to grow more Sales Point for selling RTE products,
however because of the outbreak,
many people changed to work from home and thus reduced dining outside,
he himself also work longer from home than from the office.

 Because of that,
the company quickly changed the tactic,
and started to sell products which consumers can buy then heat it and eat from home,
for example the 1kg or 500g packaged Chicken Rendang, Curry Chicken.

 However the packaging not very nice looking,
because they needed to start selling it as soon as possible.

 A shareholder asked that why the growth of Sales Volume is more than the Revenue.

 Mr Timothy answered that the Sales Volume was calculated by Containers,
however the product mix in every container is different,
for example the pau, mantu which exporting to Australia,
will take up more space in the same container,
thus the growth of Sales Volume might not be in par with the growth of revenue,
since certain products took up more space in container.

 A shareholder asked about the future growth.

 Mr Timothy answered that they will continue to look for New Market and sell New Product,
however new market doesn't mean that they have to look for new country.

 Like last year,
the company only sell products to the Little India or Chinatown in some countries,
but also successfully get into the Mainstream market,
for example Pratha started selling at around 400 Coles Outlet at Australia,
around 150 Restaurant Depot at USA. (where restaurant owners shop.)

 Even though it is not new country,
but it is still new market from the same country.

 Finally Mr Timothy also mentioned a bit about Q2 performance,
he said that every time when there is recession or economic unstable,
it was also the time when company thrived.

 That's all from what I heard from the Q&A session.
Next is a bit of my own thinking.

 During the bear market at March,
the shares price of KAWAN once almost dropped to below RM1,
however now it already rebound to RM1.75.

 Is it still worthy to invest now?
It depends~

 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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Tuesday 9 June 2020

我在2020年4月9日~4月28日之间的投资记录



在这里先放上前2篇的链接，
欢迎点击阅读：
我在3月13日~23日之间的交易记录
我在2020年3月24日~4月8日之间的投资记录

 话说我在2020年3月13日到23日之间PANIC SELLING后，
从3月24日开始就一直PANIC BUYING。

 今天就来回顾一下我在2020年4月9日到4月28日之间的交易记录，
方便日后回味~
4月9日：
就像上一篇提到的，
因为贪心股息，
我在RM1.21的价位加码了ELKDESA。

 与此同时，
由于马来西亚疫情比我预料的恢复得快很多，
我决定把投资的策略定在“后疫情时代”，
并因此在RM1.02的价位卖出全部AEON股票，
只留下100股做纪念。

 感谢AEON，
令我亏损了5位数.............

 与此同时，
我也在RM26.98卖掉最后一点的PANAMY股票，
从此不再是PANAMY的股东。

 投资了PANAMY将近10年，
结果只赚了辆MYVI...........
4月14日：
我在RM13.58的价位买回了一些在RM12.30时卖出的ALLIANZ。
唉..........

 4月16日：
我在RM8.71的价位买回了一些在RM11.50时卖出的AEONCR。
4月17日：
我在RM14.34的价位买回了一些在RM12.30~RM13.58之间卖出的ALLIANZ。
唉............
4月20日：
我在RM5.57的价位加码了KOSSAN。
4月21日：
我在RM9.30的价位买回了一些在RM11.50~RM14.08之间卖出的AEONCR。
我的AEONCR持股量超过了PANIC SELLING时的数目。

 同一天，
我在RM7.30的价位买回了一些在RM6.41卖出的HARTA。
唉..............
4月22日：
我在RM13.88的价位买回了一些在RM13.58时卖出的ALLIANZ。
唉.............
4月23日：
我在RM1.21的价位加码了ELKDESA。
4月29日：
我在RM4.14的价位买回了一些在RM3.35时卖出的STMKB。
唉................
今天就暂时写到这里。

 就像上一篇说过的，
我个人倾向于长期投资，
而以上的交易记录都算是短期内发生的，
所以我不会做出任何关于这些交易的评论，
毕竟短期的评论对于长期的投资是没有什么意义的。

 不过我的Panic Buying并没有到此结束，
而是一直持续到5月。

 下次再继续写下去~
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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My buying & selling record from 9th April to 28th April 2020


Feel free to read the previous article of my trading record series:
My buying & selling record from 13rd March to 23rd March 2020
My buying & selling record from 24th March to 8th April 2020
After my PANIC SELLING from 13rd to 23rd March 2020,
I started to enter PANIC BUYING mode from 24th March.

 Today I am writing all my buying & selling record between 9th to 28th April 2020,
so that next time I can refer back~
9th April:
Just like what I mentioned in previous article,
since I was greedy for the dividend,
so I bought some ELKDESA shares at RM1.21.

 At the same day,
the Covid-19 outbreak at Malaysia cool down faster than I expected,
so I switched my investment strategy into "Post-pandemic era",
thus I sold all my AEON shares at RM1.02,
leaving just 100 shares as memorial.

 Thanks to AEON,
I lost 5 figures of money...............

 Also the same day,
I sold my last bit of PANAMY shares at RM26.98,
thus I am no more a shareholder of PANAMY.

 After investing PANAMY for around 10 years,
I just earned a MYVI only..............
14th April:
I bought back some ALLIANZ shares at RM13.58 which I sold at RM12.30 last time.
Aiks..............
16th April:
I bought back some AEONCR shares at RM8.71 which I sold at RM11.50 last time.
17th April:
I bought back some ALLIANZ shares at RM14.34 which I sold at between RM12.30~RM13.58 last time.
Aiks............
20th April:
I bought some KOSSAN shares at RM5.57.
21st April:
I bought back some AEONCR shares which I sold at between RM11.50~RM14.08 last time.
The amount of AEONCR shares currently is more than the period right before I PANIC SELLING.

 At the same day,
I bought back some HARTALEGA shares at RM7.30 which I sold at RM6.41 last time.
Aiks.............
22nd April:
I bought back some ALLIANZ shares at RM13.88 which I sold at RM13.58 last time.
Aiks..........
23rd April:
I bought more ELKDESA at RM1.21.
29th April:
I bought back some STMKB shares at RM4.14 which I sold at RM3.35 last time.
Aiks.............
That's all for today.

 Just like what I mentioned before,
since I am more into long term investing,
and all the buying & selling above happened not long time ago,
so I will not comment anything about it.

 It is just meaningless to comment about short term performance if long term investing is the purpose.

 Anyway,
this wasn't the end of my Panic Buying,
I will continue writing it next time~

 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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