ICAP ICAP !!!

This stock in KLSE main board "ICAP" was highly recommended by my investment siffu and his siffu very very much. They always said that buy this stock for say 20-25 years as long term investment. Everytime I asked him what is the best price to buy, he will always give me a consistent reply:

"When you see it's low, just buy and slowly accumulate. If you buy this round at higher price, your next round buying price at lower will for sure lower down your average buying price."

Convincing enough? Hehe. Anyway, here's the latest Q2 report by them. Looking at it, sounds good? So is it really a time for me to enter? I'm still wondering...

icapital.biz Bhd, a close-ended fund, posted an 88% jump in its net profit to RM14.74 million in the second quarter ended Nov 30, 2008 (2QFY09) from a year earlier, as it booked more income from the disposal of securities.

The profit translates to an earnings per share of 10.53 sen, up from 5.6 sen in 2Q08.

Revenue for the quarter increased 71.2% to RM15.94 million from RM9.31 million previously.

In its statement to Bursa Malaysia, icapital.biz said it made a gain of RM14.38 million from the disposal of securities for RM22.55 million. The cost of securities was RM8.17 million.

“The gain came very substantially from the sale of VADS,” it said.

The company had cash and cash equivalents totalling RM75.56 million as of November 2008, up from RM49.17 million a year earlier.

icapital.biz’s net asset value (NAV) per share, a better measure of the close-ended fund’s performance, decreased by 24% to RM1.49 at Nov 30, 2008 from RM1.95 at the end of FY08, and down 15% against RM1.75 in 1QFY09.