资金增值

以前我股市中赚的钱包括股息，又重投入股市中，
股票价钱涨时，我的纸上财富就增加，跌时就缩水。

这样情形，我的钱财数目是不会有绝对性的增加的，
后来，我又在银行开了另外一个储蓄户口，这户口的钱是有进没有出的。
也没有 ATM卡，每次卖了股票所赚的30%盈利是存进这户口的，
其余的才转投回股市或其他用途。
别小看这少少的 30%盈利，如果你永远不动它，日久见功夫，相当可观的数目。

有些人是买产业地皮屋子，或储蓄基金等等。

比如在籍的学生，用一千零吉买股票，
他上到千二时卖掉，赚了 RM200,
RM200 的30% 是 RM60,

那麽就把 RM60 存起来。

在此，我们不谈货币贬值，我们谈的是钱财数目。

hiro 即将停牌

hiro, 它的母股，带给长期投资者物有所值的回酬，光荣下台，

它的儿子，可说是上天赐给 hiro长期投资者的恩物，上市不到一年就夭折了，

许多股友因此哭断肠。

Submitting Merchant Bank	:	AMINVESTMENT BANK BERHAD
Company Name	:	MBM RESOURCES BHD
Stock Name	:	MBMR
Date Announced	:	20/12/2011

Type	:	Announcement
Subject	:	TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS
Description	:	MBM RESOURCES BERHAD (“MBMR”) UNCONDITIONAL TAKE-OVER OFFER TO ACQUIRE ALL THE VOTING SHARES OF RM0.25 EACH IN HIROTAKO HOLDINGS BERHAD (“HHB”) (EXCLUDING TREASURY SHARES) (“HHB SHARES”), ALL THE NEW HHB SHARES WHICH MAY BE ISSUED ARISING FROM THE EXERCISE OF OUTSTANDING WARRANTS 2011/2016 IN HHB (“WARRANTS”) AND THE ALL OUTSTANDING WARRANTS IN HHB NOT HELD BY MBMR (“OFFER”)
Attachments	:	Press Release - CA.pdf
Announcement Details/Table Section : We refer to the announcements dated 27 October 2011, 31 October 2011, 1 November 2011, 8 November 2011, 17 November 2011, 29 November 2011, 15 December 2011 and 16 December 2011 in respect of the Offer. On behalf of MBMR, AmInvestment Bank Berhad (a member of AmInvestment Bank Group) (“AmInvestment Bank”) wishes to announce that MBMR, at 12.00 p.m. (Malaysian time) on 20 December 2011, holds 386,493,528 HHB Shares representing 92.12% of the issued and paid up share capital of HHB (excluding treasury shares) as a result of valid acceptances in respect of the ongoing take-over offer. Accordingly, the Offer has been validly accepted by the holders of not less than nine-tenths in the nominal value of the HHB Shares. Pursuant to paragraph 16.02(3) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad (“Listing Requirements”), trading of HHB Shares and Warrants shall be suspended upon the expiry of  five (5)  market days from the date of the immediate announcement to be made by HHB pursuant to paragraph 9.19(48) of the Listing Requirements in view that more than 90% of the listed shares of HHB (excluding treasury shares) are held by MBMR. In addition, MBMR will proceed to invoke Section 222 of the Capital Markets and Services Act, 2007 to compulsorily acquire any remaining HHB Shares for which valid acceptances have not been received within two (2) months from the date of this announcement. The Offer shall remain open for acceptances up to 5.00 p.m. (Malaysian time) on Tuesday, 3 January 2012, unless revised or extended in accordance with the provisions of the Malaysian Code on Take-Overs and Mergers, 2010 (“Code”). Enclosed is the press notice released by AmInvestment Bank (on behalf of MBMR) pursuant to Section 32(4) of the Code in relation to the above. This announcement is dated 20 December 2011.

hero

这次mbmr 收购 hiro, 我把 hiro 卖掉， 把一部分钱转过来买 hiro-wa,

这是投机。

胜败现在还未分胜负，因为我不轻言败，

不过从中得了宝贵经验.

这是我先赚到的。

hiro-wa 奇货可居

Hiro-wa 的总票数= 110,554,399，

Hiro 的总票数= 440,340,952,

纸上谈兵，为了好算， 就当这hiro-wa 的总票数 = 110,000,000

Hiro 的总票数 = 440,000,000

现在 mbmr 已收购了超过86% 的票，只有13%多的票还没被收购

为了不让它吞吃或触动上市公众持股25%条例，

我们还需 12% 的 hiro 票。

这 12%的票怎样变出来呢？当然是从 hiro-wa那儿转换过来。

因此，hiro-wa 奇货可居也。

等下开市时 hiro-wa 就变成抢手货了。

另一面，

有些人可能认为 hiro 除牌下市成定局，因此等下会贱卖 hiro-wa,

无论如何， mbmr 收购 hiro， hiro-wa 变化多端，会越来越好玩了,

除牌？

Company Name	:	HIROTAKO HOLDINGS BHD
Stock Name	:	HIRO
Date Announced	:	16/12/2011

Type	:	Announcement
Subject	:	PUBLIC SHAREHOLDINGS SPREAD
Description	:	HIROTAKO HOLDINGS BERHAD (“HHB” OR THE “COMPANY”) NON-COMPLIANCE WITH THE PUBLIC SHAREHOLDING SPREAD REQUIREMENT PURSUANT TO PARAGRAPH 8.02(1) OF THE MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD (“BURSA SECURITIES”)
Announcement Details/Table Section : HHB wishes to announce that the Company has today received a press release from AmInvestment Bank on behalf of MBM Resources Berhad (“MBMR”), informing that as at 5:00 p.m. (Malaysian time) on 16 December 2011, MBMR holds 362,332,145 HHB Shares representing 86.36% of the issued and paid-up share capital of HHB (excluding treasury shares) as a result of valid acceptances in respect of the ongoing take-over offer. Accordingly, HHB does not comply with the public shareholding spread requirement pursuant to Paragraph 8.02(1) of the Main Market Listing Requirements of Bursa Securities as less than 25% of its total listed shares are in the hands of public shareholders. As stated in Section 4 of the offer document issued in relation to the ongoing take-over offer, it is not the intention of MBMR to maintain the listing status of HHB. This Announcement is dated 16 December 2011.

hiro and hiro-wa

"....................HHB wishes to announce that the Company has today received the attached press release from AmInvestment Bank on behalf of the Offeror, informing that the Offer has been approved by the shareholders of the Offeror at the extraordinary general meeting held today.

Accordingly, save for the 65% Acceptance Condition, all the conditions for the Offer have been fulfilled................."

意思是说除了65％的接受条件，要约的所有条件都得到满足，

mbmr 收购到最少 65% hirotako 的总数票了吗？
文告没说明，因为这文告是 hirotako 发布的。

uchitec

这公司有现金超过 140mil, 总债务才不过 18mil,

每年给两次股息，一次 5sen, 另一次 7sen,

从 weekly chart 图表显示，tweezer bottom,可以捞低了

买棕油股好过年

请记住：买棕油股，好过年




回酬最少 15% 两个月内。

华人新年红包

没想到它会派息，我买了2年，今年年头拿了每单位 2sen 股息，

 在未发红股前已卖了七七八八，手中剩下是没本的（本钱已拿回），

 1对1派发红股后，数量又 DOUBLE 了，现在每单位又将给免税1SEN.

 这比中 4D 更开心，这就是股票。

快快的到bursa网站翻查它的纪录，自 2006年上市以来，2008年头开始派 2007财政年的股息，

年年新年都有派一次股息，可当着新年红包，不错不错，原本打算把它卖掉的念头取消了。

备注：我不鼓励大家买 GREENYB, 因为这间公司的业务实在令我捉不着头脑，

 KLK, IOI, SIME, RVIEW等等这些大公司会不会向它买它的产品？

笔者身边的朋友们也有好多树胶芭，但是他们都没用 GREENYB 的产品。

 以下是它的派息记录：

Company Name	:	GREENYIELD BERHAD (ACE Market)
Stock Name	:	GREENYB
Date Announced	:	25/11/2011

EX-date	:	06/01/2012
Entitlement date	:	10/01/2012
Entitlement time	:	05:00:00 PM
Entitlement subject	:	Final Dividend
Entitlement description	:	Single Tier Final Dividend of 1.0 sen per ordinary share
Payment date	:	17/01/2012
	:	10/01/2012
Entitlement indicator	:	Currency
Currency	:	Malaysian Ringgit (MYR)
Entitlement in Currency	:	0.01

Company Name	:	GREENYIELD BERHAD (ACE Market)
Stock Name	:	GREENYB
Date Announced	:	30/11/2010

Subject	:	GREENYB - NOTICE OF BOOK CLOSURE
Contents	:	Single Tier Final Dividend of 2.0 sen per ordinary share Kindly be advised of the following : 1) The above Company's securities will be traded and quoted [ "Ex - Dividend" ] as from : [ 5 January 2011 ] 2) The last date of lodgement : [ 7 January 2011 ] 3) Date Payable : [ 14 January 2011 ]

Company Name	:	GREENYIELD BERHAD (ACE Market)
Stock Name	:	GREENYB
Date Announced	:	02/12/2009

Subject	:	GREENYB - NOTICE OF BOOK CLOSURE
Contents	:	Further to Listing Circular No. L/Q : 55350 of 2009, kindly be advised of the following : Single Tier Final Dividend of 1.5 sen per Ordinary Share (instead of Final Dividend of 1.5 sen per Ordinary Share) 1) The above Company's securities will be traded and quoted [ "Ex - Dividend" ] as from : [ 5 January 2010 (Remain Unchanged)] 2) The last date of lodgement : [ 7 January 2010 (Remain Unchanged) ] 3) Date Payable : [ 15 January 2010 (Remain Unchanged) ]

Company Name	:	GREENYIELD BERHAD (MESDAQ Market)
Stock Name	:	GREENYB
Date Announced	:	24/12/2008

Subject	:	GREENYB - NOTICE OF BOOK CLOSURE
Contents	:	Single Tier Final Dividend of 1.8 Sen Per Ordinary Share Kindly be advised of the following : 1) The above Company's securities will be traded and quoted [ "Ex - Dividend" ] as from : [ 7 January 2009 ] 2) The last date of lodgement : [ 9 January 2009 ] 3) Date Payable : [ 16 January 2009 ]

Company Name	:	GREENYIELD BERHAD (MESDAQ Market)
Stock Name	:	GREENYB
Date Announced	:	29/11/2007

Subject	:	GREENYB - NOTICE OF BOOK CLOSURE
Contents	:	Final dividend of 15% comprising 5% per share tax exempt and 10% per share less 27% tax. Kindly be advised of the following : 1) The above Company's securities will be traded and quoted [ "Ex - Dividend" ] as from : [ 3 January 2008 ] 2) The last date of lodgement : [ 7 January 2008 ] 3) Date Payable : [ 28 January 2008 ]

回归基本面

mbfhldg，oskprop

以上两间公司每股合理价该在 RM1.50 以上，
可是它们的大股东却以极不合理低价收购，
搞到它的股价长期低糜，
凭单更惨，价钱被压着，
凭单持有者如果立志不坚，手中的票就随着收购行动忍痛割爱了，


当市场知悉收购行动不成功，
它们的股价就会回归基本面，慢慢的升回合理的价位。

今天，

mbfhldg = 96.5sen
mbfhldg-wa = 25.5sen

oskprop = 89sen
oskprop-wb = 14sen

往后，它们要吐气扬眉了。

so, better watch out above two counters.

but hirotako and hiro-wa are different cases，

hirotako 97sen 收购价高过合理价，

而 hiro-wa 5sen 收购价低过合理价。

依我的计算方式（用 本益比=10 算），

hiro 合理价大约 7毛多，

hiro-wa 15sen 左右。

请看Friday, October 28, 2011我的blog,
http://musicalwaterfall.blogspot.com/2011/10/hirotako_28.html

文末有写到，

“。。。如果5sen卖掉 hiro-wa, 那我该向你说：。。。。。。。。。。。“



我该向你说甚麽呢？
我该向你说谢谢，因为 5sen 我每天排着买，希望有人丢给我


最后告诉大家，买个棕油股好过年，任何一只棕油股，亏盈自负。

罩门

Submitting Merchant Bank : AMINVESTMENT BANK BERHAD

Company Name : MBM RESOURCES BHD

Date Announced : 17/11/2011

Type : Announcement

Subject : TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)

NON RELATED PARTY TRANSACTIONS

Description : MBM RESOURCES BERHAD (“MBMR” OR “COMPANY”)

PROPOSED CONDITIONAL TAKE-OVER OFFER BY MBMR TO ACQUIRE ALL THE VOTING SHARES OF RM0.25 EACH IN HIROTAKO HOLDINGS BERHAD (“HHB”) (EXCLUDING TREASURY SHARES) (“HHB SHARES”), ALL THE NEW HHB SHARES WHICH MAY BE ISSUED ARISING FROM THE EXERCISE OF OUTSTANDING WARRANTS 2011/2016 IN HHB (“WARRANTS”) AND THE ALL OUTSTANDING WARRANTS IN HHB NOT HELD BY MBMR (“PROPOSED OFFER”)

Announcement Details/Table Section :

We refer to the announcements dated 27 October 2011 and 8 November 2011 in respect of the Proposed Offer.

On behalf of MBMR, AmInvestment Bank Berhad (a member of AmInvestment Bank Group) (“AmInvestment Bank”) wishes to announce that the Company has obtained the approval from the Securities Commission (“SC”) under the equity requirement for public companies vide its letter dated 16 November 2011 (which was received today) subject to the following:

(i) AmInvestment Bank to inform the SC upon completion of the Proposed Offer; and

(ii) Upon completion of the Proposed Offer, AmInvestment Bank/HHB is to submit a list of acceptances for each category of shareholders and its effective equity structure before and after the completion of the Proposed Offer. Equity condition may be imposed on HHB in the event that HHB remains listed on Bursa Malaysia Securities Berhad and HHB needs to comply with public shareholding spread requirement.

This announcement is dated 17 November 2011.


看了以上的文告，我想：

HIROTAKO 会被 MBMR 收购成功，

但不是全面收购成功，

MBMR 可成为 HIROTAKO 的大股东之一，

HIROTAKO 不会被除牌。

暗藏杀机的 hirotako

诸葛亮观察天象知国家军事，
技术分析师研究图表，想抢先市场知道 股市/股票价钱走势，


从技术分析角度来看：
hirotako 图表呈现 expanding triangle,
hiro 这只金鹅暗藏杀机呀，
hiro 很可能会跌到 56sen 以下。


因此，以 bomoh hujan 角色预言：
MBMR 未必可以全面收购它。


综合技术分析师与 bomoh hujan 的分析及预言，
因此， now is best time/ best price to sell HIROTAKO.

注意：I only said HIROTAKO, not others.

public smallcap fund

在 22/8/2011 那天，朋友介绍下买了 public smallcap fund, 每单位 79.xxx sen,详细数字我忘了，

31/8/2011， ex-dividen, 每单位 给 12sen, 而我选择 reinvest，每一千单位得超过 140单位，

大约的算， 100% X 12sen / 80sen = 15%,


public smallcap fund 现市价大约在 66sen 左右。


大众银行的股息回酬平均每年不超过 10%，

而 public smallcap fund 是在 10%以上.
 
如果要比较，而且公平的比较，那麽就要定下一个时段，

比如 3年回酬比较， 五年回酬比较，十年回酬比较，
或是从明天买入，年底卖出，
或是明天买入，那一只回酬先达到 10%， 20%， 30%， 100%， 200%。。。。就卖出。

所以各有千秋。

谁急谁就先输

希腊公投，又不公投，全球股价来回震荡，
今天占据大马股市热门版的大多是 mesdaq股，
这些公司大多数是空壳，没什麽正经的业务，
它们是庄家/炒家（它们本身的老板）用来赚取无知散户$的合法工具。

散户要赚股市钱也是非常容易，而且可以说是不费吹力，
散户本钱少，每次交易赚它20%不成问题，只是要有耐性，
可是对于我来说， 买它们和在云顶赌场买大小没分别，
所以 20%太少了，要就是 100%为目标，不然就不要买。

100%? 岂不是等很久，平常静静时就累积？
就是这样，像钓鱼一般，耐心，而且一定得心静自然凉，
大股东不急，我们小散户更不需急，
谁急谁就先输。

可能有人会想把钱下注在别的，股价起更快的公司不是更好吗？
好，当然非常好，

所以还没买时就得作足功课，买了就得好好走完这盘棋。


如何与大股东/庄家/炒家 斗智斗勇，请看
相关文章，仙股 ，发表于 21-3-2010

hirotako 持有者该怎麽做？

hirotako 持有者该怎麽做？
买好还是卖好？还是继续持有，保留现状？


持有 hirotako者不会亏，
亏的大多数是 hiro-wa,
这个 offer 对 hiro-wa 持有者是非常不公平的，

在人生道路上，遇到不如意事时，有些人选择
1。反抗到底 （上策）
2。逆来顺受（下策）
3。不理不睬，逃避现实。

所以，如果你觉得价钱不合理，那就坚持不卖，
或是向有关当局投报，查看有无舞弊事件。

或是做鸵鸟，
股市之中，大多数鸵鸟也不会亏钱的，
现在美国正大起 超过 300点，道琼斯指数已超过12200 了，
1-8-2011 （12132）到 10-8-2011 （10719），
短短十天，跌了近 1500点，
在这期间，买股票的股友大多数赚钱，
惊慌抛售的呢？
如果是鸵鸟，把头埋进沙堆，不闻不问，暴风雨过后，才把头抬起，
手中股票也没跌多少，有些反而比以前更高价。


如果5sen卖掉 hiro-wa, 那我该向你说：。。。。。。。。。。。
改次做到了才告诉大家，现在暂且不说，因为我还没做到。

为何杀金鹅？

mbmr offer 97sen 买 hiro 母股，5sen 买 hiro-wa,

hiro fair value 是 75.2sen, (如果 以 pe=10 来算）

上半年eps=9.4sen,

9.4 x 2 = 18.8sen(预计全年）

18.8 / 2.5 = 7.52sen (被 2.5 除因为 红股和拆细活动）

97sen - 75.2sen = 21.8sen

100% x 21.8 / 75.2 = 29%.

现在mbmr 愿以 高出 29% 的价钱收购，我会卖。

其实 29% 不是很多，以 hiro 的潜能，两三年后它的合理价就超过 RM1。

要杀会生金蛋的 hirotako

明天如果 hirotako 97sen, 我就毫不犹豫的卖掉，

死在我手里好过死在别人手里，

hiro-wa , 我已卖完了， 第一次卖 27sen, 第二次卖 25sen,  25sen 是最近一次，

手中还有母股，至目前为止，我卖出的最高价是 83sen,

我玩hiro很久了，打从它par value  RM1 split 成 50sen 前就开始买了。

以前赚钱亏欠都是糊里糊涂的，不知甚麽是基本面，甚麽是技术面。

不知不觉为 hirotako 写了许多篇帖，以下就是：
会生金蛋的 hirotako
补漏 会生金蛋的 hirotako
丑小鸭再生金蛋
capital proliferation vs capital appreciation
hiro-wa
是时候反弹了吧 ？ 
hirotako 最新业绩
过了苏州还有船搭吗？
越卖越爽
股中之王 hirotako

耐心

慢慢经营你的 投资/投机 portfolio，

 你就会发现到可以改进的地方，包挂，选股，买点卖点，基本/技术，交易策略等等，


当这些全部掌握了后，你就不会再为你所买的股起落而烦，也不会心急一心想赚快钱。

到那时，你将会发觉靠股票过日子太容易了。

股中之王 hirotako

hiro 从 23-9-2011 最低点 56sen 到今天最高点 90sen, 短短一个月时间，涨了 60% ，

它一路跌，我一路买，
它一路起，我一路卖，
到今天为止，手中还有 hiro,

不怕它起，也不怕它跌，它要是静止不动，也无所谓。

买得开心，卖得爽快。

越卖越爽

这几天回弹，小小粒的股占据热门版，陆陆续续放出一些票，

21-9-2011 发表现在卖股最危险，甚麽危险，当时没说清楚，只介绍一本书给大家看。

书中第54页：

“。。。。每人能比市场精明，人们还认为，在股市修正或大跌时，投资股票是危险的。其实此时，只有卖股才是最危险，他们忘记了另一种危险 - 空手的危险，即在股市飞涨时，手中没股票。。。。。“

难怪古人说 书中自有黄金屋，开卷有益，

今年我买了好多书来看，平均每个月最少两本，包括 冷眼，martin wong, eckhart tolle 等等等。

 

资金热钱最终回归股市。

把风吹不动，端坐紫金莲 ，其实还没说清楚为何泰山崩于前而不乱，

推高股市的资金大多数是热钱（hot money)，

热钱是热钱，精明钱是精明钱 (smart money)，

通常精明钱先在 货品/股价等 被低估时买入，

后引来热钱纷纷注入推高成泡沫，精明钱就先溜掉了，

精明钱通常是基本面奉行者，

热钱多属投机，

全球资金流动总量已超过130兆美元，是全球GDP总额的两倍以上，

衍生性金融商品与国债基金占最大比例。

这些资金无时无刻都在想着开番，

最好的去处就是股票市场，因此，不论股市怎样崩跌，流出去的资金终究会回来的。

重点是

“去年今日此门中，人面桃花相映红。

人面不知何处去，桃花依旧笑春风。“

我们所持的公司还在经营吗？还有利润是否依旧或更上层楼？

千万不好，

“风住尘香花已尽，日晚倦梳头。物是人非事事休，欲语泪先流。

闻说双溪春尚好，也拟泛轻舟。只恐双溪舴艋舟，载不动，许多愁。 “



所以，公司管理层，公司生意重要，（这是心），

全球经济局势，尤其是美国的 到穷指数，对于我来说，不重要。（这是八风）

管住自己的心，那麽八风就吹不动。


















http://www.chinanews.com/hb/2011/06-14/3109755.shtml

八风吹不动，端坐紫金莲

稽首天中天，毫光照大千，八风吹不动，端坐紫金莲

八风，就是利、衰、毁、誉、称、讥、苦、乐世间八法，

意思说一个人，无论顺境也好，逆境也好，
别人称赞他也好，诽谤他也好，
他都能安然不动，泰然处之。


我没有佛印禅师般修为，文采也不及苏东坡，

这里的八风是，

美国经济，欧债，人民币，黄金，原油，原产品，大马的政治课题，股市起落等等等。

过了苏州还有船搭吗？

船开了，恭喜搭上的乘客

水能载舟 亦能覆舟

我看十个股友里面最少有八个都有开番的经验，

尤其是买附加股送 涡轮的，或是买刚出的涡轮或特定的 call 涡轮，

很多 call 涡轮出时才 15分，但现在已超过 30sen.


本帖不是鼓励大家买涡轮，买股票有风险，涡轮也有风险，call 涡轮风险更大。

尤其是在个股高峰期出的 call 涡轮, 现在大都朝向黄泉路了。



请看下图，

     江河日下的  msm call 涡轮

msm 母股图

苦肉计

如果希腊等倒债，垮的是欧元，如果美国倒债，垮的是美元，

结局是 人民币上升，

人民币升，欧美产品外销，贸易逆差变顺差，

乐了欧美，苦了中国人民。

如果倒债不要出现，中国中东亚洲等得出援手。

所以，救不救，欧美根本都不必烦，

该烦的是中国，既不要他们倒债，也不要人民币短时间内大起。



欧美苦肉计的目的是要人民币起。

人民币大起，欧美债务问题迎刃而解。



以上是笔者胡乱想的，因为最近看三国演义（video), 有点走火入魔。

osk 又要嫁人

去年11月时江湖传闻马银行娶 osk, 聘礼每股 RM2.60等等，osk 就从块半以下飙上来，

事隔接近一年，osk 换了对象，这次是 rhbcap.

笔者较有兴趣的是它的价钱到底要炒到多高？

让我们看看图表吧，

手中有它的朋友，到底多少钱卖呢? 朋友sms 来, 都是问这问题。

我只能客观的告诉大家，照着你当初买时所设定的目标价卖。

 

这样的市，要投资，投机都可以

27-9-2011 买甚麽好呢？

要快进快出的有，

leweko, 今天闭市 13sen 罢了，明天早上 27-9-2011 就 13sen 直接吃, 14sen 卖都可赚到 $ 。

记得早上买，过了时辰就别买，因为过了还能买到那就证明反弹无力。

事先声明：leweko 是投机股。

至于投资吗？银行股跌低了就买来收。

LYSAGHT

刚刚看了它在 25/8/2011 公布的财报，


它没借贷，

总债务才 RM5,326,000，

现金 RM46,651,000，

如果扣掉总债务，现金还有 RM41,325,000，

总票数=41,580,000,

每股净现金=41,325,000 / 41,580,000 = RM0.99 = 99 sen,

23-9-2011 的闭市价 = RM 1.67

LYSAGHT First & Final Dividend 10% T.E. ex-date 1 Jul 2011, payment date 22 Jul 2011


LYSAGHT  ..........    Final Dividend 5% T.E.  ex-date 29 Jun 2010, payment date 19 Jul 2010

LYSAGHT  .......    Interim Dividend 5% T.E. ex-date 3 Dec 2009, payment date 21 Dec 2009

Ben Bernanke 跳 twist dance

Operation Twist


The Federal Open Market Committee action known as Operation Twist (named for the Twist dance craze of the time) began in 1961. The intent was to flatten the yield curve in order to promote capital inflows and strengthen the dollar. The Fed utilized open market operations to shorten the maturity of public debt in the open market. It performs the 'twist' by selling some of the short term debt (with three years or less to maturity) it purchased as part of the quantitative easing policy back into the market and using the money received from this to buy longer term government debt. Although this action was marginally successful in reducing the spread between long-term maturities and short-term maturities, some economists have suggested it did not continue for a sufficient period of time to be effective. Despite being considered a failure in near-term analyses, the action has subsequently been reexamined in isolation and certain economists have suggested it was more effective than originally thought. As a result of this reappraisal, similar action has been suggested as an alternative to quantitative easing by central banks.

The Federal Open Market Committee concluded its September 21, 2011 Meeting at about 2:15PM EDT by announcing the implementation of Operation Twist. This is a plan to purchase $400 billion of bonds with maturities of 6 to 30 years and selling bonds with maturities less than 3 years, thereby extending the average maturity. . This is an attempt to do what Quantitative Easing (QE) tries to do, without printing more money and expanding the Fed's balance sheet and therefore avoid the inflationary pressure that QE brings.  This announcement brought a bout of risk aversion seen in the equity markets, and strengthened the US Dollar, whereas QE II had weakened the USD and supported the equity markets.

http://en.wikipedia.org/wiki/Operation_Twist#Operation_Twist


想看 Ben Bernanke 怎样跳 twist dance 吗？请看 http://www.youtube.com/watch?v=u7W8gZkpj8s

想看Obama 的在这里 http://www.youtube.com/watch?v=LVQ0MXp-8ds

现在卖股最危险

现在卖股最危险？

介绍一本书给各位，

“一看就懂，投资大师的创富密码“，
22位经典投资大师投资密技，
李成思编著，夏易恩绘图，大众书局有卖。

满仓的朋友，可用股息再投资。

http://musicalwaterfall.blogspot.com/2011/08/blog-post.html
http://musicalwaterfall.blogspot.com/2011/08/blog-post_10.html
http://musicalwaterfall.blogspot.com/2011/08/dividend-yield-10.html
http://musicalwaterfall.blogspot.com/2011/08/cyl.html
http://musicalwaterfall.blogspot.com/2011/08/winners-never-quit-quitter-never-win.html
http://musicalwaterfall.blogspot.com/2011/08/blog-post_22.html
http://musicalwaterfall.blogspot.com/2011/09/blog-post_12.html

神棍

神棍，借神明骗迷信之徒的人。

股市之中有很多神棍，有时候我们自己也不知不觉的犯下同样错误，当起神棍。

“。。。某只股或股市即将大调整，大起，或大跌，小起，小跌，小调，横摆等等。。。“

对 人或朋友 说以上话或做以上预测，

得告知怎麽预测或推算出来的，或基于甚麽政策经济因素，公司生意前景，生意合约，

需求，业绩，股息，附加股，涡轮仔等。

否则，别事后孔明说：“我早就跟你说了，你不信，你看你看，现在 大起/大跌 了。。。“

等等自吹自擂的废话。

为甚麽股市跌，人们就会惊慌抛售？

只因为许多人买股票，靠买卖价差赚钱，

所以，当 九妖妖纪念，有没有 QE3， 希腊倒债 等等，

价差难玩，就得先卖 回避这些问题引发的 股价暴跌。


有没有看过 师奶股神 ？
一部香港电视连续剧， 主角商天俄，谢天华，林嘉华，

剧末有一段非常有意义的话，
详文我忘了，不过，大意是劝世人，不要忘本，忘记了股票由来的根本，

股票的产生，让世人可以参股任何上市公司，

投资股票，就是投资生意很好会赚钱的公司，

靠赚取价差买卖股票的出发点就不对，所以外围跌时，心里也会当心手中的股票价跌。

如果买股票只单纯的想要股息，那麽美国大跌也无所谓，

还可乘机多扫点便宜货。

dont buy icapital

千万别买 icap , 只因它没派息，

没派息，就没有股息再投资。

Digi 合理价

刚刚研究了 DIGI 的图表，然后作了以下的算计，

今早 digi gap up open at about RM33, 这价钱已属泡沫，

 两季 eps = 73sen,  一年四季大慨 150sen, 它在本益比 20以上交易，

本益比 20高不高？

记得长期投资得有 margin of safety，所以，现在要买它的朋友，请三思。

DIGI

等下开市时会不会 gap up, 到多少呢？RM33 ?


它是面值 10sen 的股，建议拆细为每股面值 1sen,

面值这麽低，在大马股市可算是绝无仅有的了。

刚刚查了它的基本面，今年上半年每股赚益 73sen,

却给股息 73sen, 意思上半年赚多少，给完多少，

maxis 今年上半年每股赚益 14.50sen, 却给股息 16sen, 倒贴了，

axiata 今年上半年每股赚益 14sen, 才给股息 4sen,

telekom 今年上半年每股赚益 8.1sen, 给股息 9.8sen, 也是倒贴。

由此可见， telekom, maxis, digi 这三个公司的本身基建设施已完善，

不需多余发展（扩充）开销，所以可以做到赚多少，就派完多少，

甚至拿以前所赚余的倒贴。

还有一点，这三个的管理层至目前为止，信赖度过关，至少他们愿与所有股东分享成果。

黄金会跌价吗？

黄金会跌吗？
会，肯定会。

现在近 千九美元 1安士，价钱高吗？
我不知道，

要跌了吗？
我不知道。

还会继续起吗？
我也不知道。

不知道那写这篇文章干吗？

我要告诉大家，黄金也会跌价的，

由于它是商品（commodity），它的价钱会被操纵（manipulate)。


楼房，地产会跌价吗？

会，而且非常容易，

只要政府条列一改，不利它，它就跌。

请看这篇报道，http://www.chinanews.com/gj/2011/09-04/3304965.shtml

你认为以色列政府会镇压这些示威群众，还是修改条列降低房价呢？

不论怎样， smart money 是不是先溜了呢？

smart money 溜了，后知后觉的羊群还前仆后继的奋勇而进，自己想象血淋淋的画面吧。

.............MKs: Government Should Beware


Other MKs succeeded in meeting with the students and hearing their demands. MK Carmel Shama-Hacohen (Likud) warned that the government cannot stay in power without dealing with housing prices, which have risen by 43 percent in just three years.

“Either prices will fall, or the government will fall,” he warned.

Housing Minister Ariel Attias (Shas) has attempted to bring prices down by issuing tenders for thousands more new housing units per year. Housing prices have risen in part due to a 10-month construction freeze in Judea and Samaria, and a continuing de facto freeze in Jerusalem. Another factor is the increasing phenomenon of apartment purchases by tourists from overseas, who leave them empty for most of the year, but drive up prices......................................
( http://www.israelnationalnews.com/News/News.aspx/145793 )
 
 

cocoaland holdings berhad

刚刚看了它的 2011年第二季财报，

这是净现金公司，

总债务才 2千6百多万，

现金有 近 6千万。

总票数是 171,600,000 , 面值50sen股，

以它现在的赚益来衡量，

理想买入价钱是 RM1.00 以下。

2011上半年， eps= 4.42sen，

保守估计，今年大慨是 4.42 X 2 = 8.84sen,

所以如果用 p.e = 10, 它也只值得 90sen 罢了，

现市价 块九多，已超出双倍。

它每年派最少一次股息， 不多，每股 4sen 左右

以下是它历年来的派息日期及数额：

An interim dividend of 8% per ordinary share of RM0.50 each tax exempt.

Kindly be advised of the following :

1) The above Company's securities will be traded and quoted [ "Ex - Dividend" ] as from : [ 19 July 2005 ]

2) The last date of lodgement : [ 21 July 2005 ]

3) Date Payable : [ 4 August 2005 ]


Bonus Issue of up to 30,000,000 new ordinary shares of RM0.50 each in Cocoaland Holdings Berhad ("CHB Shares") to be credited as fully paid-up on the basis of 1 new CHB Share for every 3 existing CHB Shares held

Kindly be advised of the following :

1) The above Company's securities will be traded and quoted [ "Ex - Bonus Issue" ] as from : [ 30 June 2006 ]

2) The last date of lodgement : [ 4 July 2006 ]


An interim dividend of 8% per ordinary share of RM0.50 sen each less 28% Malaysian income tax.

Kindly be advised of the following :

1) The above Company's securities will be traded and quoted [ "Ex - Dividend" ] as from : [ 12 December 2006 ]

2) The last date of lodgement : [ 14 December 2006 ]

3) Date Payable : [ 28 December 2006 ]


An interim dividend of 8% per ordinary share of RM0.50 sen each less 27% Malaysian income tax.

Kindly be advised of the following :

1) The above Company's securities will be traded and quoted [ "Ex - Dividend" ] as from : [ 12 December 2007 ]

2) The last date of lodgement : [ 14 December 2007 ]

3) Date Payable : [ 28 December 2007 ]



Interim dividend of 4.0 sen per Ordinary Share less 26% Malaysian Income Tax.

Kindly be advised of the following :

1) The above Company's securities will be traded and quoted [ "Ex - Dividend" ] as from : [ 11 December 2008 ]

2) The last date of lodgement : [ 15 December 2008 ]

3) Date Payable : [ 30 December 2008 ]



Interim Dividend of 10% per Ordinary Share less 25% Malaysian Income Tax.

Kindly be advised of the following :

1) The above Company's securities will be traded and quoted [ "Ex - Dividend" ] as from : [ 8 September 2009 ]

2) The last date of lodgement : [ 10 September 2009 ]

3) Date Payable : [ 25 September 2009 ]



Interim Dividend of 5% per Ordinary Share less 25% Malaysian Income Tax.

Kindly be advised of the following :

1) The above Company's securities will be traded and quoted [ "Ex - Dividend" ] as from : [ 12 March 2010 ]

2) The last date of lodgement : [ 16 March 2010 ]

3) Date Payable : [ 6 April 2010 ]



Interim Dividend of 5% per Ordinary Share less 25% Malaysian Income Tax.

Kindly be advised of the following :

1) The above Company's securities will be traded and quoted [ "Ex - Dividend" ] as from : [ 8 June 2010 ]

2) The last date of lodgement : [ 10 June 2010 ]

3) Date Payable : [ 30 June 2010 ]


Interim Dividend of 3.8% per Ordinary Share less 25% Malaysian Income Tax.

Kindly be advised of the following :

1) The above Company's securities will be traded and quoted [ "Ex - Dividend" ] as from : [ 10 March 2011 ]

2) The last date of lodgement : [ 14 March 2011 ]

3) Date Payable : [ 11 April 2011 ]

北伦敦被攻陷了

manchester city vs tottenham hotspur , 5 : 1.
manchester united vs arsenal , 8 : 2.

看得实在过瘾，我喜欢看进球多多的足球赛。
抢手的球员太嫩了，得多多磨练。

特别的爱，献给特别的你

ncb 的 die hard fans, 还有认定 cash is the king 的股友，

特别的爱，献给特别的你，

ex-date = 26-9-2011 , A Single Tier Interim Dividend of 7.0 sen per share


ex-date = 13-7-2011 , A Special Interim Dividend of 59.0 Sen Per Ordinary Share Less 25% Income Tax

ex-date = 20-4-2011 , A Final Dividend of 10.0 Sen Per Ordinary Share Less 25% Income Tax

ex-date = 20-4-2011 , A Special Dividend of 20.0 Sen Per Ordinary Share Less 25% Income Tax

2011年每股共给股息 10 + 20 + 59 +7 = 96sen

其中有两个是 special dividend,

ncb 果然 special, 一年之内派 2 次 special dividend.

很多人都是 RM3.50以下买的，

2011年的 dividend yield = 100% X 96/350 = 27%

比银行利息高出 10倍。
 
 
 
 

hirotako 最新业绩

hirotako

trade receivables of  hiro as at end of 2nd Q 2011 = RM61,078,000
as at preceding year end 31st Dec 2010                = RM39,415,000

RM61,078,000 - RM39,415,000 = RM21,663,000
100% X (21,663,000 / 39,415,000) / 39,415,000 = 55%

the trade receivables increased 55%,

total liabilities = RM78,758,000
as at preceding year end 31st Dec 2010 = RM53,834,000
increased 100% X (78,758,000 - 53,834,000) / 53,834,000 = 46%

especially because of  the payables in current liabilities,
(RM27,719,000 + RM44,980,000 = RM72,699,000 )
100% X  72,699,000 / 78,758,000 = 92%

trade payables = RM27,719,000
other payables =RM44,980,000,  57% of it total liabilities, terror
 pay to who?  O.S.K ? ( split, bonus issued, share buy back, brokerage fee? )
no explaination about the other payables given in 2nd Q 2011 financial report.



my heart was thrilled when mention  the words O.S.K,
its masterpieces : drbhcom-ce, oskprop 87sen, oskprop-wb 6sen ..........

winners never quit, quitter never win

最近的下跌，你是否加码？或减持？

如果减持，对自己所买的股信心不足？

好好检讨所买的股，还有交易策略，

完美的交易策略是不怕风暴的，任何时候都有足够的资金作买卖。

CYL

有读者反应说除了 TM, NCB ， 有没有价钱几毛钱的股项可以用越跌越买越开心策略。

有，大把，比如 CYL, 其它以后才分享，或是大家自己动手找，

你将会发现大马股市有很多股海遗珠，由于欠缺外资关系，很多股项是被低估的，

CYL 它公司网站 http://www.cylcorporation.com/

它股价 50sen 左右，每年才给一次股息，免税 4sen,

昨天刚 ex 股息， 昨天收市48sen,

如果 50sen 买， 每年股息 4sen,

dividend yield = 4 / 50 = 0.08   ， 也既是 8 %


资金 RM1,000, 分十份，每份 RM100,

每跌 5sen 就动用 RM100 买一手

RM100 买  50sen CYL = 200 单位 
RM100 买 45sen CYL = 222 单位

RM100 买 40sen CYL = 250 单位

RM100 买 35sen CYL = 285 单位

RM100 买 30sen CYL = 333 单位
RM100 买 25sen CYL = 400 单位

RM100 买 20sen CYL = 500 单位
RM100 买 15sen CYL = 666 单位
RM100 买 10sen CYL =1000 单位
RM100 买   5sen CYL = 2000 单位


股价从 50sen 跌到 5sen,
RM1000 可买到 5856单位，

每年可收股息 5856 X 4sen = RM 234.24

你RM1000的资金 可以每年得到股息 RM234.24，

超过23%回酬，比巴菲特还厉害，他才20%。


昨天收到一位股友的信息，他说他买的股很难跌，越跌越买越开心策略用不到，不知怎办？

哈哈哈！朋友，你说他该怎办？

无论如何，我们该恭喜他，因为他买的股不会跌。

甚麽股每年 dividend yield 最少 10% ?

在大马有很多这样的上市公司，信手拈来的就有 NCB,  TM.....等等


NCB - NOTICE OF BOOK CLOSURE


A Final Dividend of 10.0 Sen Per Ordinary Share Less 25% Income Tax and A Special Dividend of 8.0 Sen Per Ordinary Share Less 25% Income Tax.

Kindly be advised of the following :

1) The above Company's securities will be traded and quoted [ "Ex - Dividend" ] as from : [ 22 April 2009 ]

2) The last date of lodgement : [ 24 April 2009 ]

3) Date Payable : [ 8 May 2009 ]


An Interim Dividend of 7.0 Sen Per Ordinary Share Less 25% Income Tax for the Year Ending 31 December 2009.

Kindly be advised of the following :

1) The above Company's securities will be traded and quoted [ "Ex - Dividend" ] as from : [ 24 September 2009 ]

2) The last date of lodgement : [ 28 September 2009 ]

3) Date Payable : [ 9 October 2009 ]

2009年共得 10 + 8 + 7 = 25sen


1) A Final Dividend of 10.0 Sen Per Ordinary Share Less 25% Income Tax for the Year Ended 31 December 2009.

2) A Special Divident of 11.0 Sen Per Ordinary Share Less 25% Income Tax for the Year Ended 31 December 2009.

Kindly be advised of the following :

1) The above Company's securities will be traded and quoted [ "Ex - Dividend" ] as from : [ 21 April 2010 ]

2) The last date of lodgement : [ 23 April 2010 ]

3) Date Payable : [ 7 May 2010 ]


An interim dividend of 7.0 Sen Per Ordinary Share Less 25% Income Tax For The Year Ended 31 December 2010.

Kindly be advised of the following :

1) The above Company's securities will be traded and quoted [ "Ex - Dividend" ] as from : [ 27 September 2010 ]

2) The last date of lodgement : [ 29 September 2010 ]

3) Date Payable : [ 13 October 2010]

2010年共得 10 + 11 + 7 = 28sen


1) A Final Dividend of 10.0 Sen Per Ordinary Share Less 25% Income Tax for the Year Ended 31 December 2010.

2) A Special Dividend of 20.0 Sen Per Ordinary Share Less 25% Income Tax for the Year Ended 31 December 2010.

Kindly be advised of the following :

1) The above Company's securities will be traded and quoted [ "Ex - Dividend" ] as from : [ 20 April 2011 ]

2) The last date of lodgement : [ 22 April 2011 ]

3) Date Payable : [ 6 May 2011 ]


A Special Interim Dividend of 59.0 Sen Per Ordinary Share Less 25% Income Tax for the Year Ended 31 December 2011.

Kindly be advised of the following :

1) The above Company's securities will be traded and quoted [ "Ex - Dividend" ] as from : [ 13 July 2011 ]

2) The last date of lodgement : [ 15 July 2011 ]

3) Date Payable : [ 2 August 2011 ]

2011年得 10 + 20 + 59 = 89sen


三年共得 25sen + 28sen + 89sen = 142sen

平均每年得 142 / 3 = 47.3sen

而这三年来它的股价都没超过 RM4.50

(说到这里，大家都可看到吧，长期投资的好处就显现出来了,

这就是为何有股息的好处，比玩价差更保险)



TM, 这股现在RM4, 每年派息最少两次， RM130 + RM130 = RM260

dividend yield = 26sen / RM4 = 6.5%,

比如开始时我们的资金才 RM1000, 平分十份，每份RM100, 

TM 每跌40sen 就动用 RM100 买，

股价(RM)    单位

100 / 4.00 =  25
100 / 3.60 =  27
100 / 3.20 =  31
100 / 2.80 =  35
100 / 2.40 =  41
100 / 2.00 =  50
100 / 1.60 =  62
100 / 1.20 =  83
100 / 0.80 =125
100 / 0.40 =250

如果 TM 从 RM4.00 跌到 RM0.40
RM1000 可买到 25 + 27 + 31 + 35 + 41 + 50 + 62 + 83 + 125 + 250 = 729单位，

每单位平均价 RM1000 / 729 = RM1.37

 telekom, 每年给你最少 RM260 的股息，

dividend yield = 100% X (26sen / RM1.37 ) = 19%


大家不妨用这方式算算看，

是不是很多公司都可以这样买，

越跌越买越开心，

股价起理所当然开心，股价跌也买的开心，

大家的心境已达到泰山崩于前而不乱的境界，

这境界比股神还厉害，

股神买股票起才赚钱，

可是大家不论起跌都赚，而且是包赚。

如何累积股票，才会越累积越开心？

脚踏实地投资，回酬是股息，要选 dividend yield 最少 10% 一年的。

如何累积股票，才会越累积越开心？

比如：资金 RM100,  分成十份，每份是 10%，每份就 RM10

把某股价除 10，如果某股价是 RM1.60,
那麽 RM1.60 / 10 = 16sen
每跌 16sen 就动用 10%资金买进。
为了好讲解，拿股价 RM1 的股做例子，dividend yield 10%, 也既是每年可收到股息 10sen,
股价在 =  RM1,      十份之一资金买，就可买到 10个单位
跌到    = RM0.90,   十份之一资金买,   就可买到 11个单位

跌到    = RM0.80,   十份之一资金买,    就可买到 12个单位
跌到    = RM0.70,   十份之一资金买,    就可买到 14个单位
跌到    = RM0.60,   十份之一资金买,    就可买到 16个单位

跌到    = RM0.50,   十份之一资金买,    就可买到 20个单位
跌到    = RM0.40,   十份之一资金买,    就可买到 25个单位
跌到    = RM0.30,   十份之一资金买,    就可买到 33个单位

跌到    = RM0.20,   十份之一资金买,    就可买到 50个单位

跌到    = RM0.10,   十份之一资金买,    就可买到100个单位

如果某股从 RM1 跌到 RM0.10,
资金RM100 就可累积 291单位，
每单位平均价 = RM100 / 291 = 34sen

由于所选股的dividen yield 是 10%, 所以每年都会收到每单位 10sen dividend
总共 291 X 10sen = RM29.10 股息

以上的只是其中一种策略，很普通，很多人都会，但是采用的有几人？

它看似平凡，却带给你充满信心安稳的愉快心情在市场下跌中买股。

越累积越开心

股票买在下跌中，越买越伤心，

换个心态投资股票，

以累积的心态投资股票，会越跌越买越开心的。

为何有这麽大的差别呢？

因为累积是看数量，越跌越便宜，可买的量就多, 当然开心啦。

但是只限好的公司，股息高的。

Is it game over ?

above dow jones chart show tat DJIA breakdown  AB uptrend line on 29-7-2011 ,

then breakdown easily too the strongest support level 12,000 on 2-8-2011 .(the bearish  marubozu)

It proved tat U.S stocks are bubble.


So, do you think tat it is good time, cheaper price to buy now?

drbhcom-ce

drbhcom  last five days closing price,

25-7-2011 = 1.95
26-7-2011 = 2.24
27-7-2011 = 2.25
28-7-2011 = 2.24
29-7-2011 = 2.24

5 days average = RM2.184,

exercise price of drbhcom-ce = 1.95 , conversion ratio = 2 for 1

(2.184 -1.95) / 2 = 0.117

drbhcom- ce shareholder only get back 11.7sen  per unit of drbhcom-ce.

above chart show start from May, drbhcom mostly trade within 2.20 - 2.30,

let us take it's mean  = (2.20 + 2.30) / 2 = 2.25

if 25-7-2011 no any trading error,

drbhcom- ce shareholder will get back

(2.25 - 1.95 ) / 2 = 0.15sen per unit of drbhcom-ce.

because of  the trading error, how much OSK save from it :

 issued drbhcom-ce = 90,000,000units

15sen - 11.7sen = 3.3sen

90,000,000 X 3.3sen = RM2,970,000,

on 25-7-2011, traded vol of drbhcom = 4,801,400,

assume tat all tis 4,801,400 share was  bought at price 2.28 (closing price on 24-7-2011  )

threw by trading error  at price 1.95 on 25-7-2011,

4,801,400 x  (2.28 - 1.95) = 4,801,400 X RM0.33 = 1,584,462

the loss of  trading error only cost RM1,584,462


but OSK can save about RM2,970,000.

Is it trading error?

call warrants

23-5-2011，  CIMB INVESTMENT BANK BERHAD  公布 TM-cm 
随着 telekom capital distribution 29sen 而调整  它的 Exercise Price 和 Exercise Ratio。
Exercise Price 从 3.20 调到 2.9763,
Exercise Ratio 从 3 warrants to 1 share  调到 2.7910 warrants to 1 share。

详情请看以下这 link:
http://announcements.bursamalaysia.com/edms/edmswebh.nsf/all/482576120041BDAA4825789900370F25/$File/TM-CM%20Ann%20Capital%20Distribution%20-%20110523%20_adjustmt_%20Final.pdf

可是今天 28-7-2011 刚才闭市过后， cimb 公布 tm-cm 的 cash settlement 如下，

We wish to announce that the TM-CM expired at 5.00 p.m. on 28 July 2011 (“Expiry Date”) and the Cash Settlement Amount shall be calculated as below.


Cash Settlement Amount = Number of TM-CM x (Closing Price – Exercise Price) x (1/Exercise Ratio)

= Number of TM-CM x (RM4.0132 – RM3.20) x (1 / 3)

= Number of TM-CM x RM0.2711

The Closing Price of RM4.0132 is the arithmetic mean of daily volume weighted average market price of TM shares for the 5 market days prior to and including the market day immediately before the Expiry Date.

也既是说没调。

如果照调整过后的来算，

Number of TM-CM x (RM4.0132 – RM2.9763) x (1 / 2.7910)


= Number of TM-CM x RM0.3715

RM0.3715 - RM0.2711 = RM0.1004

少了 1 毛钱，不得了，本来每1000单位 tm-cm 可得 RM371.50,
可是现在只得回 RM271.10