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Hikitty, i think he may have his own philosophical way of managing the company, that is, buying back only as last resort. Luckily, it is slowly climbing upwards now....
Glad that SJ participants have been buying LMA at their low prices. Let's see how long the :manipulators can manipulate LMA shares at their current low prices b4 the LMA mgt activates its buy back scheme which has been approved. SJ participants who have the investment foresight and a time horizon of just one month shd buy now before other SJ participants seize the opportunity.!!!!
Guess SJ participants are intelligent investors - they have rallied to buy a share that is being "manipulated" at low prices. Let's see how long the "manipulators" can keeping on selling at low prices to buy at low prices!!!!
Actually, if u think about it, the real BB that can cause an upswing to bring it to the SGX top 30 volumes would be the management of LMA. They may at their discretion, any time before the next AGM, buy back up to 58million shares. So really, they are in full control. However, their cash reserve at this point in time may not allow it to buy the full 58million, but even at say 30million shares buyback, would propel it to top 30.
Hikitty and Moneymatters, we may not have to wait till another year for the price to surge. Million $ question is: When will the CEO activate the buyback mandate?
If only 5% of SJ participants believe in value investing, and buy LMA shares, rather than in speculative investing, LMA shd move north. Hope many SJ participants have learnt not to punt on speculative counters which gyrate not because of good fundamentals, but because of the short selles vying against the long buyers. Sometimes the long win, and sometimes the short win the battle of guts. The gyrations are not good for the well being of an individual. Growing support for LMA clearly visible these few days. Can the BBs or syndicates of LMA afford to wait seven long long long years before they move north, like some other counters? Doubt, they have that patience. Look at Singtel today - they move north to catch the short sellers who defy the long buyers backing Singtel!!!!!!!!
There's no better time to buy LMA than at its present lehlong price.(way below IPO price) Very sure, LMA will not go bust and shd rally north soon. Buy now coz it's a very fundamentally sound company.
HI moneymatters
Tks for your excellent clarification. Let us hope as LMA investors to see increasing price with increasing volume so as ato attract more buyers for LMA. At its present "moribund" state, LMA may take some time to move north. Just can't understand the fundamental mentality of the BBs behind LMA - just queuing (or supporting) in the buy queue at the current low price!!
Hikitty, there is absolutely no contradiction to my statement. If I hold the view that LMA can return to me 2-3X based on my entry price in 12-18 months, I don't get easily swayed by short term (low volume) selling. If however the selling is accompanied by heavy volume, I will be worried and all bets are off . So far, I don't see anything on my radar to change my fundamental read. Hence if for some reasons, folks are tired of holding on to LMA because of lack of price action, etc and start selling below current level, I am inclined to collect more.
Hi moneymatters
To be as patient as Job to wait indefinitely for LMA's recovery. While we can wait, our life expectancy is not indefinite. In my earlier posting, I suggested that possibly the nok of deceased retail or placement investors are the ones selling at the current low prices. I wonder how the LMA mgt feel abt the "disgraceful" state of LMA shares, compared to lesser known companies. Guess they have washed their hands clean after having achieved their aim of raising the required funds for their shareholders. The LMA mgt has not declared any dividend (though it has been profitable most of the time) or activated the share buy back scheme (though it has been approved at its shareholders' mtg, if I am not wrong). While you rate LMA shares as a better quality stock , you contradict your statement by expecting it to trend back down again !!!! No offence, just for purpose of discussion
don't think you can find a better quality stock with such great value and margin of safety in our market today. will add if it trend back down again. this stock is definitely not for the impatient. Expect 2-3X return within the next 12-18 months time horizon.
Supported by "invisible hands" @ 55cents. Closed with a reasonable volume today. Number of low- priced LMA shares in the sell queue is drying up. Shd breeeeaaaak out anytime soon!!!!!!! In a down market, value investments are always sought after, NOT speculative shares which are bounced up and down. Surely, LMA deserves to be considered a "value" , NOT speculative" share. After all, the LMA company will never be affected by any subprime woes. In fact, human casualties of subprime woes will need to use LMA products !!!!!
Hi ten4one - u r dead right!! Both ways (win or lose) the FMs make money for themselves .Hope FMs or BBs read SJ thread and know that "mentally" SJ retail investors are OK, unlike some of the FMs or BBs who are "mentally" not OK According to statistics, there are about 15000 deaths every year. If only 1% of them invest in LMA, how long must the FMs or BBs accumulate at low prices before ramping up the shares? Another three years? By then, the nok of BBs might also have to sell the shares on their behalf coz' they might have returned to Heaven.
I am in a tax-related biz and know that the nok must sell shares on behalf of someone who is dead so that the estate duty payable by the deceased may be computed.
Aiyah hikitty, FMs are using others' money to make money (for themselves only). Win or lose, they'll 'suck' you dry 'cos both ways they win as long as they present a winning 'dressed up' portfolio when closing their books. I just couldn't understand why people still give them money to invest - the moment you signed on the dotted line, you already lose some money to them! All said, the real good ones don't have to look for Investors - it is the other way round!
BTW, are you in the Tax profession - your post re estate duty is quite similar to Shares Buy Back (no corp tax) and paying out dividends (taxable) by Companies. One of the advantages, that Companies used to save on taxes. Cheers!
The BBs or FMs know that LMA is fundamentally OK but they are "mentally" not OK. Playing low for many months - what sort of mentality? How are they going to make money for their unit trust investors if they keep on queuing to buy at low prices?
creeping up slowly...
Tks ten4one for the "enlightening" comment. The trading volume continues to be shockingly low every day - may be the sellers at low prices are the nok (next-of-kin) of"dead" investors who are obliged to sell at low prices for computation of estate duty payable? ???
Using shares buy-back to dress-up the Financial Ratio is the 'cheapo' way of managing a Company. So, be very careful when a Company is buying back their own shares instead of returning CASH to shareholders. Of course, if the Company is giving out good dividends, then that isn't a problem!
Another thing to note is the Company may not have any new projects to invest and don't know what to do with the extra cash in hand. If that's the case, why not return the excess cash to shareholders and let them decide what to do with the cash THEMSELVES!
The share price and the trading vol speak volumn of LMA, even after the shares buy back ! Only Fools die, cheers!
Tks Tradechancellor and Hohokit for the comments. Just can't understand the behaviour of BBs or FMs punting on LMA . Agree that some investors would have walked out on the counter long ago. The BBs or FMs must have hungered to death playing all the way down for the past three long years. Waiting for all the investors who have returned to Heaven to sell at low prices to them? By then, it might also be time for them to return to Heaven and they will then be obliged to sell at whatever the prevailing prices are at that time.
The October/nov verdict is likely the award of damages as well as ambu's appeal results. Strategically, i think a sharebuyback is better than giving out dividends as sharebuyback willl increase the share price + make it more valuable as there is less float or outstanding shares. Whereas dividends will only increase share price when people buy them but the float will remain the same.
Hi hikitty this counter really slow as slow as a tortoise for it to move up.Bought in Jan and sold in Aug,make so little money.Use the proceed to buy Ban Joo, in and out 5 times,really make money.