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Wednesday, December 29, 2010

Malaysia Smelting Corp (MSC) to list in Singapore Stock Exchange

The news is out this afternoon that MSC is going to list in Singapore stock exchange after shareholders' approval.The stock flew to RM 4.50.But this post is not about MSC.It's about a company which also owns MSC,ICAPITAL.BIZ

ICAP is non speculative,does not pay dividend and it has very small daily volume for traders.Hence,it stayed undervalued since 2008 crisis because uncle and aunty weren't interested.Why ICAPITAL is attractive?

a) ICAP is one of the THIRTY (30) LARGEST SHAREHOLDERS in MSC now. ICAP bought MSC in April 2010 at around RM 3 per share.It owned about 1.9 mil shares and at current price of RM4.50,it's sitting on an unrealised gain of RM 2.8 mil today.Since ICAP will continue to hold MSC even after it lists in Singapore,the future potential gain is tremendous.

b) ICAP is still holding RM 100 mil in its vault and judging from its impressive record to double the NAV less than 5 years, ICAP's NAV can easily breach RM 3.00

c) Tan Teng Boo is "cooking something delicious behind the kitchen" to serve to ICAP's shareholders in order to justify the under priced share

d) Current share price offers almost 20% discount to its NAV.

ICAP is ripe for picking now


  1. Would you mind to elaborate a bit further on "cooking something delicious behind the kitchen"?


  2. That's a hint to you.Check out my previous post and you'll see my track record.If you can catch my hint,you'll make a lot of $$$$.When I give a hint,it's time to buy the counter.Sometimes it's better not to know too much.Just make $$$ and stay low profile.