Saturday, May 31, 2014

Double Whammy - Backache and Gastric Pain

A 56 year old lady, an old acquaintance of mine, CML, came to the clinic with a two -day complaint of an explosive diarrhoea, painful abdomen (stomach) and bleeding haemorrhoids.

She was from outstation and came to the city to attend a conference. She stayed at a hotel and the following morning suffered from a severe backache which she attributed to the lumpy hotel bed. As she had to do a lot of walking, she decided to buy a painkiller (generic) from the pharmacy to reduce her back spasm. The backache prompted her to change hotel room for a firmer bed.

She took the painkiller on the first day of her conference and did not suffer from any side-effects. On the second day, she took the second dose and later had a very hot Thai foods for lunch. That very night she experienced the most excruciating abdominal pain and started to purge and was not able to sleep. The purgings continued and they worsened her haemorrhoids which began to bleed. Whatever she ate became watery stools and she was really sick and unable to continue attending the conference.

She was treated with oral rehydration, anti-haemorrhoidal treatment and ordered a strict bland diet. The diarrhoea continued for almost five days before normal stools finally reformed. It was a horrible period for CML. What started off as a local backache which was alleviated by sleeping on a better bed had turned into one miserable episode of general illness.

The lesson here is whenever you are taking a painkiller in the group of non-steroidal anti-inflammatory drug or NSAID like brufen or voltaren, you must not irritate your stomach by subjecting it to extremely spicy foods. Somehow the combination of NSAID and chilies is disastrous for the lining of your stomach and intestines. Irritated, the intestinal tracts just cannot absorb what you are eating and pass on rapidly through the system. I also noted that her painkiller was generic and not film-coated which predisposed to gastritis as compared to the safer film-coated and more expensive proprietary drug.

The whole of the intestinal tract is affected by the unfortunate combination causing it to develop multiple minor bleeding points. Somehow milk further worsens the condition due to possibly the rapid transit time in the tract and reactive acidity due to sudden alkalinisation. The only way is to take bread slowly in small but frequent amount and insipid tea and oral rehydration salt to replace the lost fluid and minerals in the diarrhoea.

Avoid Hot Thai Foods
when taking strong painkiller


Painkiller in the NSAID category especially non-film coated ones cause gastritis and hot chillies also cause gastritis due to its high acid content and so we have a potent mixture which could bring any person down. People need to be extra careful about foods especially when they travel.

TM- Advantages of Dividend Reinvestment Scheme (DRS)

I have been with TM for a long time. A fairly long time. I have gone through the company from the time it still had the international component that is now AXIATA. I like it because it is a defensive stock which has been giving generous dividends of about 22%. It's capital repayment exercises, every two to three years also allow the investors to lock up gains and reinvest at a lower stock price. I must say TM has been creating wealth for me all these years.

For the financial year of 2013, I received the first dividends of 9.8 % and the second declared value is 16.3% which in all constitutes 26.1%, slightly higher than that in FY2012, at 22%.

Four days ago I received a message on my phone that the new policy of the company is to give an option for all eligible shareholders to reinvest the dividend units, an entire electable portion or part of it. I have yet to get the DRS form from the share registrar, Tricor.

 I have no problem about this policy because most of the time I have not used the dividends but instead invest it into another unit trust. I have noted TM's EGM resolutions which have all been approved recently and downloaded the TM DRS proposal . 

I have also looked at the Maybank write-up on their dividend reinvestment plan or DRP which is similar to  dividend reinvestment scheme or DRS by TM and have some ideas on how this policy operates. Maybank is among the first to implement DRS or DRP in Malaysia and have prepared an excellent FAQs.

From my understanding, following each dividend declaration, you will be asked whether to reinvest 100% of the electable portion of the dividend or part of it or you would rather accept cash. So your decision is based on a particular dividend.

Dividend Reinvestment Scheme (DRS)
is a form of Forced Savings
Why reinvestment of dividends? To me it shows that the company is confident in giving long-term value to its investors. Moreover the reinvested shares will be calculated at a discount of not more than 10% of the market price and bypassing brokerage fees. Thus I am getting more for my money.

 This is also a form of forced saving, making you more disciplined in handling your dividend payments. Apart from that you would be buying the shares regularly regardless of the price at the time and in the end the cost would average out and as your overall number of shares appreciates so does your wealth in the longer term.

I think it's a good scheme for me as I am not really able to monitor the daily stock prices and have much earlier on made a decision to stay with TM for the long term.

Saturday, April 26, 2014

IPO - Boustead Plantation Bhd

Here I go again, salivating at an IPO. Since the announcement of the proposed listing of this pure plantation stock following the privatisation of the Al-Hadharah Boustead Real Estate Investment Trust ( BSDReit)  last year, I have made up my mind to apply for this new kid on the block in the plantation counter.

I have a thing about this stock as I had had shares of BSDReit since 2007 purchased at 1.04 and made a substantial gain when I sold all off at 2.06 just before the company's exercise in late 2013. I kept it very long because I was enjoying an annual  dividend rate of about 9%. I had calculated that I would make much more by clearing my position than staying on and be given Boustead Plantation Bhd shares at a given ratio of  three Boustead Plantations shares for every five Boustead REIT units held - without balloting.

And now I am going after its plantation IPO.

The name Boustead itself gives a sense of confidence for me when looking at how the company Boustead Holdings Berhad (Bstead) stock has risen in values over the years. The last closing price on Friday 25 April was 5.56 and currently volatile due to the impending removal of its plantation arm for the new listing.

Lembaga  Tabung Angkatan Tentera (LTAT)-linked Boustead Holdings Berhad, listed on Bursa is involved in businesses of the following sectors: Plantation ,property pharmaceutical,heavy industries, trading & industrial and finance and investment.


To unlock the value of its plantation business, Boustead has decided to list it separately (removing 18 plantation companies from Boustead Holdings Berhad). The indicative price is said to be 1.60 subject to bookbuilding by  AffinBank. So far I am made to understand that the majority of its 580 million new offers of shares are allocated to existing Bstead's shareholders and directors and those of the delisted BDSReit. There are no cornerstone investors as yet. A small proportion (64 million) is allocated to the Malaysian public via balloting.

I used to have several plantation stocks during their heydays before the global financial crisis in 2008: THPlant,Sarawak Plantation,Kwantas,MHC and Unico. I held them for far too long and  as a result made great losses on all those except for THPlant in 2009. It's water under the bridge now. I had wanted to purchase one plantation stock to add excitement to  my portfolio last year but missed the opportunity due to packed commitments. By that time, my target stock (giving generous dividend) THPlant has risen from 1.60 to 2.00.

And so I thought this is another opportunity to own a plantation stock and ride with the current good crude palm oil prices.

The Boustead Plantation Bhd IPO is not launched yet but I would not like to miss the opportunity to compensate for my previous specific losses on those plantation stocks and this time I have to be more aware of factors affecting the crude palm oil (CPO) prices such as rating agency's evaluation of the industry,  production, consumption, "greenie" attacks and competition from other vegetable oil like soya.

Even if I am not successful in my IPO application, I will buy the shares on the open market. And this is when you have to gauge the stock performance on post-listing. A lot may have to do with luck, though, beside good knowledge on the company: one way is through reading its prospectus. And of course, the CPO price factor, which even if it's high may not be reflected in the stock price.

All said, stock market is a playground for people who are not averse to taking risks, and either way, will take it in their stride and move on.

An Update on Boustead Plantation (BPLANT) IPO timetable:

Last day of IPO application : 11 June 2014 at 5pm
Balloting date : 16 June
Allotment of shares to successful applicants : 24 June
Tentative Listing : 26 June, Thursday

Thursday, April 24, 2014

Julio Iglesias - Historia de un amor ( A Love Story)



A classic song and sensuously delivered by Julio Iglesias. Sensitive, tender and relaxing. The song is about a man's old love written by Panamanian songwriter Carlos Eleta Almarán . I enjoy listening to the melody and the beautiful Latin voice and the sounds of those lyrics.

Music can be therapeutic to the mind.

Thursday, April 17, 2014

Tuberculosis - Unnecessary Spread Through Poor History Taking

Last week a 37-year old woman came all the way from a district to the city in search of a "cure" for her malady. The night before she saw me, she had gone to one of  Klinik 1 Malaysia nearby for breathlessness and she was nebulised ( given a bronchodilator through a spray pump). Normally patients are given this treatment to alleviate their asthmatic attacks.

This poor woman gave a long history of coughs (more than five months). She had gone to the district hospital a couple of times and getting no relief, she started to medicate herself, buying over the counter (OTC) medicine apart from  seeking traditional treatment.

Her relatives brought her to the city when her condition deteriorated with severe breathlessness. Upon questioning, it was revealed that she coughed badly and occasionally her sputum was blood-streaked. She has evening fever and excessive sweating and her weight has drastically declined. Physical examination revealed reduced air entry on her left lung with fine crackles on auscultation but no wheezing was heard. And there are enlarged lymph nodes (lymphadenopathy) on the left neck area ( posterior triangle). All classic signs and symptoms of tuberculosis.

This is the patient's Chest XRay- her left lung is
virtually consolidated with a very small unaffected apical area.
The right lung is over expanded to compensate for affected breathing function of the left lung.

The next thing to do was a chest X-ray and sputum test for acid fast bacilli ( Mycobacterium tuberculosis- the germs causing this preventable disease). Her chest xray shows widespread consolidation of the left lung with a tiny area of respirable lung tissues. The sputum was positive for the bacteria.

The question is how many persons has this lady infected over all those months that she was not detected? She had had contact with a health facility last February 2014 on two occasions and yet was not diagnosed.

A colleague opined that the case was due to a low index of suspicion but for me it was more likely due to poor history taking and worst still if it was a case of pure laziness on the case of the health worker to take the history. It could be a case of " What is your complaint?" and the timid patient would have replied "coughs" and the doctor proceeded to prescribe a cough medicine and dismissed the woman without going into the nature,character and duration of the symptom.

The woman is put on an anti-TB treatment but the extensiveness of the infection on her right lung would affect the prognosis and as a result, her morbidity and impact on her family and economic contribution.

As TB is a notifiable communicable disease, Public Health  service  would have to trace all her contacts and test them and given treatment should any found to be positive.

TB is still a public health problem in Malaysia particularly in areas where there are many immigrants, legal and illegal.

Wednesday, April 16, 2014

Respiratory Virus - MERS-CoV has landed in Malaysia- The First Death in Asia


The first case of death due to the Middle East respiratory syndrome corona virus , MERS-CoV has been reported in Malaysia. According to the Ministry of Health, Malaysia's statement, the victim is a 54 year old man who went to Mecca for Umrah (pilgrimage) and returned to Malaysia, using a Turkish airline on 29 March 2014. He started to have signs and symptoms of respiratory disease on 8 to 9 April and as these deteriorated, he was admitted to a hospital in Batu Pahat, Johor on 10 April and expired three days ago on 13 April. The first reported death due to the virus in Asia.

MERS CoV and Distribution of Cases since 2012 with most detected in Saudi Arabia

The Ministry of health has put on a public health alert on this potentially fatal disease.

The virus was first detected in 2012 in Middle-eastern countries ( I posted in my blog earlier) . It causes similar signs and symptoms to the dreaded SARS (severe acute respiratory syndromes) and its origin is believed to be from animals such as bats and camels. The disease can be transmitted through close contact. The frightening thing about this disease is that it kills about 50% of reported cases (high case fatality rate) and it has no vaccine. And there are no medications against it. For a more detailed information on this disease you can visit the CDC Atlanta website .

All close contacts of the case would have been investigated. But like all other diseases caused by viruses, they show a spectrum: some are very ill, some have mild disease while other cases may not show the signs and symptoms, in fact they appear well but may carry the virus (known as carriers) and could transmit to others through their body fluid. You might like to read this report from Manila on a health worker tested positive for the virus but has not shown symptoms. This is the part which is causing problems or anxiety to public health so we must all do our part by being overcautious through awareness,good personal hygiene and knowledge of the disease.

Thursday, March 20, 2014

PRTASCO : The Slow and Steady Tortoise

I invested in PRTASCO about three years ago when its share was priced at about 99 to 1.05 sen. The good thing about this construction company is it gives a steady dividend between 5 to 8 sen a year and last year it gave a special dividend of 6 sen making the annual total of 14 sen.

As I was looking for a short term gain, I was not patient enough to ride this slow tortoise.  For almost two years its unit price hovered between 1.00 to 1.05 and so I cleared my position after a couple of dividend issues.

This company which traditionally has a contract on road maintenance and later migrated to construction. It has consistently been issuing an annual dividend for more than seven years. Another feature I like about this construction company is its wealth sharing with employees. I suppose many big companies have already been doing this through Employee Sharing Scheme (ESS). I know Westports has such an arrangement.

Late last year (2013) I reviewed my portfolio and in the process decided to re-purchase PRTASCO shares at 1.42 much to the the mirth of my better half. Well, he is no longer laughing at me now as PRTASCO has climbed up to 1.84  as at 1pm today.

PRTASCO_The Turtle seems to be sprinting
Source:BURSA MALAYSIA
I invested all my 2013 dividend from AS1M and a hefty loan from Jeff (already paid up with no interest) on this stock and the capital appreciation is now about 26.8% in less than six months, albeit unrealised gain. Last January 2014, I received its dividend at 4 sen a unit. I was quite pleased with it.

A dig at my better half ;)
I bought PRTASCO for two reasons; firstly I like its dividend policy , secondly I have been following its development, diversification activities and looking at its fundamentals generally. It's now into oil and gas as well.

I should have bought the stock much earlier but was mulling over it a long time and eventually forgot about it till last October 2013 when the tortoise has traversed so far ahead and now is crawling fast steadily.

I am glad I made a considered choice as far as investing in PRTASCO is concerned but really it's not always like this though. Take it from me, a small time investor who has gone through the up and down of the market, at times gritting my teeth.