|
|
WBL Corpoartion Limited
I bought WBL Corporation Limited at $2.83 on 4 January
2012. Subsequently, I received $0.50 dividend per share three times over the
holding period. I sold at
$4.17 25 April 2013. Consequently, we earn approximately 50.13% profit taking account
of the transaction cost.
However, I did not to maximise the profit by selling the 52-week high because I believed that the company is worth much more than the total market capitalization.
Few articles I wrote
were an attempt to educate ill-informed or unknowledgeable minority and passive
ordinary shareholders. It failed because STC and UE choose not to increase the
offer price. STC is more gracious that it will just hold its current holding on
WBL while sticking to the takeover code. On the other hand, UE is not so
gracious, more like rough gentleman telling us to sell immediately lest the
share price drop due to the tightening local car market. The latter is the
first half of the trigger point.
Minority and passive shareholders are getting less and less
motivated to hold and began to sell at lower price. It is really wrong move for
them, if this is the case taking its place. STC was so smart that it used its
subsidiaries to buy 1% of outstanding WBL shares available (I believe per
subsidiary) in the market at lower open market price. At the same time, STC was
buying warrants to maintain the total holdings of WBL shares. It is because
UE’s warrants conversion dilutes the STC’s percentage holding. Yesterday, UE
made a public official announcement that it will extend the deadline to buy WBL
shares. Clearly, it wants to buy shares openly which it has demonstrate during
the last few days. These actions are the other half of the trigger point. That
is where I did not consider in the last article.
Post-analaysis after my Sale of WBL Corporation Limited Share
I was stunned that STC decided to sell whole stake in WBL to UE. It spells one good news and one bad news. Starting with good news, STC will have a lot of cash and cash equivalent from the sale of WBL shares and monetising its hospitality division by exchanging physical hospitality assets for shares in joint venture between STC and Far East. It is not known whether it is willing to pay special dividend as it has done few years ago back. This demonstrate that STC is excellent at creating positive wealth without affecting itself badly. If I were top management, I would have done the same given the current set of total assets STC has.
Bad news is that STC's chairman's reputation may be dented abit. It is because she once said that STC would hold on WBL stake no matter what happen.
It is quite expected that UE would increase its offer price again but I didn't know when. Thus my patience is too thin. If i were be that patient, i would have sold at 2nd highest share price (next to 52-week high share price).
Books
Book Title: The Art of Value Investing
Authors: Whitney Tilson and John Heins
Synopsis: The authors pieces all different quotes from experienced and professional value investors in the US-based investing community. They are grouped into few chapters that define each stage of the investing process.
Rating: 8/10
Remark: It is a good book where we can all learn and re-read for any possible inspirations at the moment you may be struck in a situation during your investing journey.
Book title: The outsiders : eight unconventional CEOs and their radically rational blueprint for success
Author: Thorndike, William
Synopsis: It consists of few chapters delicated for eight successful CEOs individually. It gives us ideas how the business should be run in term of financing and operating such that Mr Market recognises the quality of the management method adopted by CEOs and increase its share price appropriately over time.
Rating: 9/10
Remark: It is a good and simple book to read. It gives me more ideas how to identify good management over time.
Book title: The white sharks of Wall Street : Thomas Mellon Evans and the original corporate raiders
Author: Henriques, Diana B
Synopsis: The book tells us how corporate raiders were born chronically from start to end. The ending point is when Icahn appeared in the scene.
Rating: 6.5/10
Remark: I read this book in the hope to know more about legendary Thomas Mellon Evans. In the end, I have some idea about how he operate as corporate raider but not clear enough.
Book title: Super crunchers : why thinking-by-numbers is the new way to be smart
Author: Ian Ayres
Synopsis: The book discusses how you should analysis quantitative data.
Rating: 6/10
Remark: I have nothing to comment about this book since I am not fond of crunching complex quantitative data.
Movies
Primal Fear (Hollywood Movie 1996)
Synopsis:
In the story, there is a guy who turn state prosecutor to defence attorney. He, being the lover of having himself in the public eye by taking on high profile case, took a murder case. This murder case is about a young man who killed a Catholic priest. He is up against his ex-girlfriend, who works as state prosecutor. He wants to win that case. How can he do it?
Rating: 8/10
Remark: Stunning twist and top class acting.
Argo (Hollywood Movie 2012)
Synopsis:
This movie is partly based on true life story happened in late 1970s. A CIA officer was given a task to get 6 Americans out of Iran. In late 1970s, most of Iran people were angry with USA for keeping ex-shah who has the support of American and was brutal to Iran people. The current Iran government at that time hold them hostages. The aim is to exchange Americans with ex-shah who was living in USA. USA government did not accept that offer. Now, CIA officer took the mission to get these six Americans out of Iran.
Rating:9/10
Remark: Incredible. This movie kept me scared because I personally want these 6 Americans to escape alive.
A Gentleman's Dignity (Korean Drama 2012)
Synopsis:
This drama is equivalent to male version of desperated housewives. 4 40-years aged guys are sorting out their lives.
Rating: 8/10
Remark: It is surprising good. The lead female actress's acting skill is so convincing that she is really into that character - so real!
The Intouchables (French Movie 2012)
Synopsis:
It is based on real-life story where a rich aristocrat guy decides to employ a immigrant. The latter was interested to have his signature on his form so that he can collect the welfare instead of being employed.
Rating:8/10
Remark: It is really touching story.
Death Race 3 (Hollywood Movie 2012)
Synopsis:
Wayland corporation has no choice to sell the racing race that is participated by prison people. The acquirer wants to enhance the franchise value of that racing race. What will he do?
Rating:6/10
Remark: Full of actions.
The Grandmaster (Hong Kong Movie 2012)
Synopsis:
It is life story about Ip Man. Ip Man faced many challenges.
Rating: 7/10
Remark: It is not your typical fighting show. Rather, it is more into philosophical story.
Advertising Genius Lee Tae Baek (Korean Drama 2013)
Synopsis:
It is about Lee Tae Baek with poor education background trying to be advertiser. At the same time, he lost his first love and found the second one. Did he make it?
Rating: 7/10
Remark: I was told that it is based on real life of actual Advertising genius, Lee Jae Suk. Nevertheless, it is good story.
Dinner (Japanese Drama 2013)
Synopsis:
A Italian restaurant in Japan is facing a crisis as the founder was hospitalized. A Japanese, who used to work for famous restaurant in Italy just like that founder, was hired to do the work.
Rating:8/10
Remark: Quality acting.
Itsudatsu (Japanese Drama Special 2013)
Synopsis:
One day, a cop could not accept the fact that his cop partner resigned. Meanwhile, there is suspected serial killing. He sets out to find who the murderer is.
Rating:8/10
Remark: Surprising ending!
Gangster Squad (Hollywood Movie 2012)
Synopsis:
This movie is based on modified true life story. O'Mara is hired by the major of Los Angeles to combat the crimes of Mickey Cohen, a gang boss.
Rating:7/10
Remark: My rating is based on the level of enjoyment I derive from watching this movie.
Great Teacher Onizuka Special 3 (Japanese Movie 2012)
Synopsis:
This story starts with Onizuka's students being stressed about what they want to do after graduating the school.
Rating:7/10
Remark: It is touching story. Good advice for any graduating secondary school students.
One Piece Z (Japanese Animation 2012)
Synopsis:
Once again, Luffy decides the adventure which half of his crew do not want to go after hearing something interesting from his crew. Upon the trip there, he faces a powerful character who can easily beat Luffy at ease.
Rating:8/10
Remark: This is surprising story with the element of making you feeling touched.
Broken City (Hollywood Movie 2013)
Synopsis:
A cop-turned-into-private-detective was given a job to spy the major's wife. Giving the picture of what that wife did to the major, something bad happen. He decide to investigate about it because this is in connection to the spy job he did for the major. Hells went loose when major did not want him to know.
Rating:7/10
Remark: This is decent story with minimal amount of action.
Rise of the Guardians (Hollywood Animation 2012)
Synopsis:
The moon, which nobody saw physically, is about to select new guardian to protect the earth and the children. This is the process to ensure that newly selected guardian can prevent the evil person with power from making children sad. Did the objective met?
Rating:8/10
Remark: This rating comes about because of the main character who is confused and is learning the truth about himself slowly. Overall, the story is entertaining.
The Hobbit An Unexpected Journey (Hollywood Movie 2012)
Synopsis:
It starts with the story where the selected shortest human being in the world from its race - hobbit- to assist a group of Dwarves. The latter is trying to find suitable place where they can settle down permanently. It seems that they want to get back their old home which was occupied by powerful dragon.
Rating: 9/10
Remark: The story is so enhancing that you want to see more of it. Indeed, there is other part of the story which will be shown in near future.
Wreck-It Ralph (Hollywood Movie Animation 2012)
Synopsis:
It is about a character from a arcade machine. He wants recognition from his mates in that machine but his job is to be baddie. This means that they distance him for that reason. One day, he was challenged to get something impossible. In doing so and achieving it will get him that recognition he desired for.
Rating:7/10
Remark: It probably wants to tell us that we should be contended if we are truly limited to the role that we can actually can do and cannot do.
Jack Reacher (Hollywood Movie 2012)
Synopsis:
A guy did a random shot at 5 unrelated people on the street from the carpark building. The owner of the guy which was used for shooting asked the cops to find Jack Reacher. Who the hell is Jack Reacher?
Rating: 8/10
Remark: This is highly intelligent movie I ever seen in 2012 and 2013 by far.
The Last Stand (Hollywood Movie 2013)
Synopsis:
A cop who has wealth of experience of combating the dangerous crimes in busy city has chosen to police one of the most boring cities in USA. One day, a drug lord escapes from the hands of the FBI and he was heading towards that boring city. That cop has to decide what he has to do with this happening.
Rating: 7/10
Remark: It is all about action.
The Virus (Korean Drama 2013)
Synopsis:
It starts with a unknown virus being spread in certain part of Korea. A public department in charge of finding solutions to provide cures against virus took in charge to identify the main source of the virus. It realized that it is out of the control as the commercial party is involved in spreading that virus.
Rating: 7/10
Remark: Very good show although slow pace.
Zero Dark Thirty (Hollywood Movie 2012)
Synopsis:
It is about how US finds Osama and how US Seals kill him.
Rating: 6/10
Remark: You know the ending. The process of this event is highly depending to your liking.
Django Unchained (Hollywood Movie 2012)
Synopsis:
It is about a German bounty hunter looking for a someone who knows the criminal. That someone has the name called Django. The former stole him off two westerners who originally refused to buy.
Rating: 9/10
Remark: It is directed by famous director who has reputation of making successful gore movies. No doubt, it has met my expectation without fail.
Kyokuhoku Rhapsody (Japanese Movie 2012)
Synopsis:
The story starts with a young doctor honing his skills at rural hospital. He face crossroad of whether to stick with his girlfriend and current job or relocate his job to another hospital and break up with her.
Rating:7/10
Remark: It is slow paced story telling us what kind of medical care we should have.
The Suck Up Project: Mr. XXX-Kisser (Korean Movie)
Synopsis:
There is a man who has problem to entertain the clients as a insurance salesman. One day, he decides to learn from someone how to market the product he is selling.
Rating:7/10
Remark: Nothing special other than nice laugh we will have.
Hitchcock (Hollywood Movie 2012)
Synopsis:
It starts with a famous film director and his wife. The former is trying to create unique movie which nobody ever thought of because of horror and gore element. He struggle to get that unique movie to be screened in the cinemas.
Rating:7/10
Remark: It tells that if you have feeling that it will do well when nobody is doing it, you have go for it!
The Perfect Game (Korean Movie 2012)
Synopsis:
It was said to be based on the real life story. There used to be two best Korean pitchers who can consecutively shut the batters out. They are playing for different teams. For every match these aforementioned teams battle against each other, the coaches never put them on these matches. One day, media pressure driven by political power forced the coaches to field them.
Rating: 7/10
Remark: Indeed beautiful baseball game if it is really true. I will be damn elated to cheer for opposition team provided that it plays excellent game to the point that the crowd cannot fault them at all.
The Impossible (Hollywood Movie 2012)
Synopsis:
The story is a probably snapshot of a victim family being affected by tsunami at Thailand.
Rating: 9/10
Remark: It is really touching story. You will be glad how the family members survive there!
Bayside Shakedown The Final (Japanese TV Special 2012)
Synopsis:
It starts with a two murder cases that have similar MO. The secret evidence says it is a cop murdering two male victims. Fast forward, he made the steps to kidnap a daughter of another cop.
Rating:7/10
Remark: It is entertaining show.
Doubles ~ Futari no Keiji (Japanese Drama 2013)
Synopsis:
A two gentlemen with different characteristics are selected to be cops for Unit Zero in a district police station. They bicker each other for petty matters. Despite of minor hitches between them working as a two-person team, they still get to solve the crime cases.
Rating: 7/10
Remark: It is average show.
Snitch (Hollywood Movie 2013)
Synopsis:
It is based on true life story. A teenager boy was caught for accepting a mail that contain drugs. It happen when his friend 'push' him to accept his offer to send the mail to you even though he didn't want. Now, his father, separated from his son and his ex-wife, wants to get him out of the prison.
Rating: 8/10
Remark: It is shocking story to many average non-us residents!Very insightful.
Number Station (Hollywood Movie 2013)
Synopsis:
A man, working as operation agent with the role of killing people based on the secret messages, was haunted by his colleague killing a innocent daughter of the killed target. He was assigned to a station where the messages were sent to the agents who in turn kill people upon instructions. Over there, he is to protect someone who is capable of directing the message from senders to the receivers. One day, few unknown men attack that station. What is going on especially when that station is in isolated place where nobody knows or visit before!
Rating:6/10
Remark: Slow paced story that may not set things alight. Average show by far.
The Tower (Korean Movie 2013)
Synopsis:
It is a korean version of American movie, The Towering Inferno. It starts with a company having extravagant party to promote newly built tall condominium. With poor internal control regarding with the fire fighting, unexpected man-made disaster affected that tall condominium. How will the trapped people, mainly standing on the highest floors, survive?
Rating:8/10
Remark: It is very touching story. The design of the building is very similar to the one in Detective Conan movie.
G.I.Joe Retaliation (Hollywood Movie 2013)
Synopsis:
The member of Cobra team is trying to free Cobra commander while killing all members of G.I.Joe. With the trap on the way, G.I.Joe did suffer the setback and only three members survived. They are on the way to attack Cobra. How?
Rating:7/10
Remark: It is typical action movie. Nothing to add.
Parker (Hollywood Movie 2013)
Synopsis:
There is a man, named Parker who follows by code of ethics while robbing cash-rich place with freelance robbers. The latters have no code of ethics and eventually tried to dispose Parker. Parker decides to get back at them as they set out for another robbery act.
Rating:8/10
Remark: Although the story is mildly decent, Jason Statham is fast becoming excellent choice for any action movie.
Olympus Has Fallen (Hollywood Movie 2013)
Synopsis:
White House in USA is under attack by the terrorists while US army and cops are trying to protect with lack of information.
Rating:7/10
Remark: This rating given by me is average by the standard. It is fast paced action. You are better off leaving your brain behind and enjoy the show.
Side Effects (Hollywood Movie 2013)
Synopsis:
One day, a lady crashed her car against the wall, with missing tyre marks, evidencing that she is trying to commit suicide. A psychiatrist was given a case at the public hospital to treat her. Few days later, she was given a drug to improve her mood. Apparently, there is a side effect causing her to kill her husband.
Rating:8/10
Remark: Very intelligent story with unexpected twist.
42 (Hollywood Movie 2013)
Synopsis:
It is based real-life story of a man named Jackie Robinson. It tells us how top baseball league starts to allow black man to play baseball during the year where many white men are still racists.
Rating:9/10
Remark: Very touching story. It tells us the beauty of America who has gone through so many trials.
The Call (Hollywood Movie 2013)
Synopsis:
It starts with Jordan doing her job taking emergency call for the police at Los Angeles. One night, she received a call from a female teenager asking for the help as the burglar went to break in. Cops failed to reach there on time to prevent. She was in emotional state, being affected by this incident. How shall she mange that? Will that culprit be found?
Rating:7/10
Remark: It is a good show with fresh perspective.
The Towering Inferno (Hollywood Movie 1974)
Synopsis:
A tallest building in the world is being built. One day, architect discovered flaws on the electrical wiring as it is different from what he asked for. Little wonder, with delays to fix the flaw, there is a fire. It was initially thought to be small fire from a point of view. Eventually, it was a big fire, affecting the living conditions in the building. How shall the management deal with this fire problem?
Rating:8/10
Remark: It is good show where there are some intelligent dialogues regarding fire and the design of the buildings.
The Raven (Hollywood Movie 2012)
Synopsis:
It starts with a murderer admiring the writing works made by Poe. Poe and the cop who is in charge of the case set out to find the identity of the murderer. But the murderer keeps on evading them. Who is the murderer?
Rating: 7/10
Remark: It is scary show whereby we never have easy time to figure the identity of the murderer.
D.I.E (Hong Kong Movie 2008)
Synopsis:
Heads of each department in the police station has dislike on one particular colleagues. They decide to dump them to newly-created D.I.E. D.I.E is a division where they have to investigate cold cases where there are no more clues.
Rating:7.5/10
Remark: Interesting dialogues and cases to be cracked by D.I.E
Dead Man Down (Hollywood Movie 2013)
Synopsis:
A man decided to create a plan where he pretend to be friendly to a gang. He slowly send to the leader of that gang few mysterious letters in each interval where the leader completed the 'bait' laid by him. He is getting closer to kill every member of the gang for his revenge.
Rating:7/10
Remark: Little intelligent plots.
Labels: books, investing, movies
Tony Del Piero wrote and posted at at 7:11 pm
