真不敢相信马来西亚竟然有如此好的创作，实在是佩服：
Saturday, 30 June 2007
Thursday, 28 June 2007
Nextnation Communication Berhad (NEXTNAT:0096) Q&A
今天终于收到Nextnat的回复，而明天Nextnat也将会出第四季的业绩报告，希望是好消息。
1. Why is Trade Receivable of Nextnation so high compare with competitor
like Mtouche and Aknmtech? It has increased from RM39.6 millionas at
April 30, 2006 to RM67.1 million as at January 31, 2007. As a result,
the debtors' collection period has increased from 128 days to 217 days
during that period. Would there be any risk that Nextnation couldn't
collect their debt?
The industry norm is that telcos pay their suppliers or partners within 60-120 days typically after reconsolidation of their bills. Their
reconsolidation usually takes 30-120 days especially in developing countries like Thailand and Indonesia with poor infrastructure.
Any excess of cash flow on our end is reinvested in market expansion to generate more revenue.
As long the company is growing, the revenue will continue to increase and thus will directly grow the receivables and payables.
2. Why is company's share price keep dropping since Nov 2006 while the
Malaysia share market is being one of the best perform market in the
world since 2007?
Share prices are determined by the market itself, with investors and fund managers buying and selling freely. The company does not
interfere in the market free float.
3. Why did company director See Poh Yee sell 1,000,000 shares again on
10 May 2007? This is already his second time of disposing share in open
market? Is our director not confidence with company operation?
Company directors are free to buy or sell their shares to investors or funds for their personal reasons. The majority shareholders are still
actively involved in day to day operations and continue to deliver record breaking results every quarter with full confidence.
4. Why is it take so long to sell private placement shares which took
more than one year? Besides that, don't you think that you should make
announcement on day that you applied for extension to complete the
private placement instead of stated it in quater report?
With the growth and needs of the company, the company evaluates the right timing and market pricing to be reasonable before completing
the private placement. The private placement timeline is within Bursa requirement for the company to make the announcement.
5. Why is Nextnation keep getting suspension from MCMC by not being
compliance with MCMC rules? On 14-May, you made press statement said
that: "These suspensions have since been lifted. Nextnation as a mobile
application services provider strictly prohibits our partner content
providers from any form of spamming activity.", but you again being
suspended on shortcode 32966 since 12-April till now due to termination
not processed.
http://www.nextnationnet.com/press/2007-03-14-1.shtml
http://www.cmc.gov.my/mcmc/consumer/non_compliance.asp
The company has 2 subsidiaries providing mobile gateway services which few of their services was perceived as non compliant
with MCMC's guidelines. All the suspected services were normal business technical errors caused by unavoidable technical factors
such as server break down and system migration causing some disruption and resulting in the non termination or delay of processes.
These are the same types of errors which would happen and affect any bank, utility company or public transport system everyday.
These are unintentional normal business technical issues which are generally rectified by going through the normal customer service
process, and are totally different and separatef rom "SPAM" which is an intentional abuse by content providers.
Our system is geared to filter all SPAM, and termination not processed does not falls into the same category.
Wednesday, 27 June 2007
ETF: Something new for investors
转载自：
http://www.theedgedaily.com/cms/content.jsp?id=com.tms.cms.article.Article_6bf99802-cb73c03a-16f70a40-82c6d08d
27-06-2007: ETF: Something new for investors
Local investors will soon have the option to invest in a new type of instrument — Equity Exchange Traded Fund (ETF). The FBM30etf will be the first ETF, introduced by AmInvestment Bank Group, to be listed on the Bursa Malaysia next Monday.
What is an ETF?
An ETF is very similar to open-ended unit trusts. It's an instrument representing a basket of stocks that is most commonly designed to track the performance of all kinds of indices. For example, there could be an ETF to track the KLCI, the Second Board Index; a sector index, like the Property Index; or in this case, the FTSE Bursa Malaysia Large 30 Index. More innovative ETFs can track commodities like oil futures and gold.
Why invest in ETF?
ETFs, like unit trusts, offer investors the benefits of diversification. For instance, an investor buying the FBM30etf will gain exposure to the 30 largest companies by market capitalisation, all in one. In other words, they don't have to fork out a lump sum of money to buy each and every one of the 30 stocks — just the minimal one board lot (or 100 units) of the FBM30etf.
Better yet, ETFs usually has lower expense ratio than comparable unit trusts. Annual management fee for unit trusts usually range between 1% and 2%. By comparison, the annual administrative fees for FBM30etf are estimated to total around 0.65%.
The lower fees and expenses are, primarily, because ETFs are passively managed funds. That means the underlying portfolio of stocks and weightings simply mirror the indices they're tracking. In short, investors do not get the benefit of fund managers stock picking or timing the market. Having said that, it remains arguable whether actively managed funds do perform better over the longer term.
Unit trusts also have higher sales charge, typically 5% or higher, whereas the transaction costs for ETFs are similar to those for normal shares trading including brokerage commission (0.3% to 0.6%), stamp duty and clearing fees.
How to buy and sell ETFs?
Trading in ETFs is also a simpler and more convenient process — it's just like stock trading. Investors can buy or sell the ETF by calling their remisiers at any time during trading hours and using the same trading/CDS accounts. This allows investors to be more responsive to market changes. Transactions are settled in the usual way as stocks are, on T+3.
The price of an ETF is determined by demand and supply but shouldn't stray too far from the market value of its underlying portfolio. ETFs also normally have a dividend policy. The FBM30etf expects to distribute any dividends and interest income it receives semi-annually, after netting expenses.
In a nutshell...
ETFs offer investors a relatively low cost, passive way of investing in the market. Returns will more or less mirror the future performance of the underlying index. Under prevailing trading conditions, we suspect that the FBM30etf will do fairly well.
While sentiment for the broader market has been somewhat ambivalent of late, share prices for key blue chips have been inching higher. The FBM30 Index has risen some 47% since its creation just over a year ago, while cumulative gains year-to-date stand at roughly 25%.
http://www.theedgedaily.com/cms/content.jsp?id=com.tms.cms.article.Article_6bf99802-cb73c03a-16f70a40-82c6d08d
27-06-2007: ETF: Something new for investors
Local investors will soon have the option to invest in a new type of instrument — Equity Exchange Traded Fund (ETF). The FBM30etf will be the first ETF, introduced by AmInvestment Bank Group, to be listed on the Bursa Malaysia next Monday.
What is an ETF?
An ETF is very similar to open-ended unit trusts. It's an instrument representing a basket of stocks that is most commonly designed to track the performance of all kinds of indices. For example, there could be an ETF to track the KLCI, the Second Board Index; a sector index, like the Property Index; or in this case, the FTSE Bursa Malaysia Large 30 Index. More innovative ETFs can track commodities like oil futures and gold.
Why invest in ETF?
ETFs, like unit trusts, offer investors the benefits of diversification. For instance, an investor buying the FBM30etf will gain exposure to the 30 largest companies by market capitalisation, all in one. In other words, they don't have to fork out a lump sum of money to buy each and every one of the 30 stocks — just the minimal one board lot (or 100 units) of the FBM30etf.
Better yet, ETFs usually has lower expense ratio than comparable unit trusts. Annual management fee for unit trusts usually range between 1% and 2%. By comparison, the annual administrative fees for FBM30etf are estimated to total around 0.65%.
The lower fees and expenses are, primarily, because ETFs are passively managed funds. That means the underlying portfolio of stocks and weightings simply mirror the indices they're tracking. In short, investors do not get the benefit of fund managers stock picking or timing the market. Having said that, it remains arguable whether actively managed funds do perform better over the longer term.
Unit trusts also have higher sales charge, typically 5% or higher, whereas the transaction costs for ETFs are similar to those for normal shares trading including brokerage commission (0.3% to 0.6%), stamp duty and clearing fees.
How to buy and sell ETFs?
Trading in ETFs is also a simpler and more convenient process — it's just like stock trading. Investors can buy or sell the ETF by calling their remisiers at any time during trading hours and using the same trading/CDS accounts. This allows investors to be more responsive to market changes. Transactions are settled in the usual way as stocks are, on T+3.
The price of an ETF is determined by demand and supply but shouldn't stray too far from the market value of its underlying portfolio. ETFs also normally have a dividend policy. The FBM30etf expects to distribute any dividends and interest income it receives semi-annually, after netting expenses.
In a nutshell...
ETFs offer investors a relatively low cost, passive way of investing in the market. Returns will more or less mirror the future performance of the underlying index. Under prevailing trading conditions, we suspect that the FBM30etf will do fairly well.
While sentiment for the broader market has been somewhat ambivalent of late, share prices for key blue chips have been inching higher. The FBM30 Index has risen some 47% since its creation just over a year ago, while cumulative gains year-to-date stand at roughly 25%.
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