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London Biscuits - The Only Value Left Is In The Name

Let's look at the demise or downhill run by London Biscuits. We may then be able to see the various permutations involved and announced. How investors should react and so on.


Timeline

2019 February, London Biscuits’ external auditors Nexia SSY had expressed a qualified opinion on the group’s financial statements for the financial year ended Sept 30, 2018 (FY18). It had raised concern on the group’s physical inventories held at Sept 30, 2018, which were stated in the statements as RM26.89 million at the group level and RM20.79 million at the company level,
(LESSON: any kind of qualified opinion, one should sell first... our professional accountants are loathed to qualify anything unless its really necessary ... sell first then do research later, a lot of time to buy back if you were wrong)

On July 8, London Biscuits slipped into PN17 status after it defaulted on a RM9.8 million in loan payment to Bank of Nova Scotia Bhd,

(July 3), London Biscuits said that its executive director Datuk R…
Recent posts

My Own Comics

A few years back, on the official Dilbert site, you could pick any strips and put in your own words to create your own comic strips. I did quite a few. Hey, maybe I could make a living writing for a good cartoonist. Sadly the site does not allow "user creativity" anymore.











Understanding The HK Situation

I have HK friends who cannot sit at the same table for dinner because of differing opinions on the way the protests have descended to. Even back in Malaysia, I have close friends who keep posting how the rioters should be handled, locked up and punished.


I don't think that the majority understand fully why the protests are ongoing; why it has descended into rioting and mayhem ... and many people in HK are still in support.

Anyone who is outside of HK would find it easy to question and condemn the silliness, naivety, and futility of the rioters' efforts.

This is by no means an apologetics diatribe to justify the protesters and (maybe even) the rioters. Rather, it is an attempt to understand the thinking and makeup of most Hongkongers.

First, let's look at why a lot of foreign people dislike the protesters/rioters:
- a complete disregard for rule of law
- the HK police force has been too 'lenient' and the "rules of engagement" too humanist as to limit the powers …

The Not-So-Enigmatic Success Story Behind QL Resources?

CAVEAT:  This is entirely MY OWN VIEW, I could be wrong here. It is mainly conjecture on my part.

It has been said when you wish to emulate someone, learn from the best. QL Resources, a shining star in terms of stock price performance for the last 15 years, did very well again in 2018 in spite of trying conditions. 

 QL was founded in 1987, but its roots stretch back to the late 1970s. In those early years, Dr Chia Song Kun and his brothers harvested the calcium-infused shells of dead mollusks from a remote shoreline near their home village, which they supplied to local feed millers. The hard-fought success of this modest business allowed them to expand their product range and open new branches across Malaysia. 

 After establishing a core business in feedstuff trading the company grew through adjacency expansion, which led to diversification into food for human consumption. QL now operates in three distinct sectors: Integrated Livestock Farming, which includes poultry farming, feedstuff …

AMLA Overkill For the Majority Of Malaysians

The objectives for AMLA are fine. However, most will agree that the "checks and balances" on ordinary Malaysians of late (over the past 6-9 months) have been bordering on overkill. A sudden substantial sum should attract proper queries. But please, not RM2,000 or RM8,000 here, TT here kena and TT there kena. For the majority of Malaysians, we are being "mildly persecuted for having and using and receiving money", so much so that we are "made to feel that we ordinary Malaysians cannot and certainly should not nor are we capable of earning or handling money more than RM500".

New accounts should be checked sure. But if we have been holding active bank accounts for 15-20-25 years, why now? Even so, ask once every 6 months, please ... not every other transaction 2-3 times a month. We feel like ex-prison convicts being checked by our supervisor for post-good behavior.



Why should Bank Negara tone down the "overkill":

- You are letting the eagles go free, …

What's Ailing The Local Equities Market

So, whats ailing the local bourse. The Dow keeps chugging along and most other markets have been doing relatively well for the longest time. Our local markets have been in the doldrums since we changed government. Is it that we are still on the clean-up stage owing to the many mismanagement at plenty of GLCs? Is our debt burden so insurmountable? Is the property overhang causing a shrinkage in liquidity?

Or has it to do with the Malaysian bonds' future?



Stock market indices provider FTSE Russell’s decision to retain Malaysian bonds on its FTSE World Government Bond Index (WGBI) watch list is negative to the market, AmBank Research says. “The next review will only be due in March 2020. This is negative to the market as it means the overhanging concern on potential US$8bil (RM33.6bil) foreign outflows from the Malaysian bond market in the event of a downgrade will not immediately go away, ” the research house said on Friday. “Apart from Malaysian bonds, a downgrade would hurt the ringgi…

Grumpy Old Man Syndrome

Sometimes we stereotypify something because we can see them in substantive numbers but we may not understand why they occur. Grumpy old men ... we all have more than our share of experiences with our fellow man. 

For women, we ha

ve had a lot of attention and research into the period when a woman goes into menopause. Hormone replacement therapy was a wonderful discovery for all humankind. We know that women lose a lot of the necessary hormones to be normal and hence many has to have some form of hormone replacement therapy.

Not a week goes by that I am not asked about testosterone levels. Especially one of the following questions:

—”How can I raise my testosterone?”

—”Can supplements actually boost testosterone?”

—”How do I know if I have low testosterone?”

The questions are endless. Testosterone is a hot marketing area for men, that strikes at the core of machismo and male health. Attach testosterone to any product with some hyperbole, and you can market it effectively.


But truth be told, te…