Thursday, 29 September 2016

Icapital AGM

Icapital AGM was held on 24th September 2016 in KLCC convention center. AGM started at 9am sharp and followed by the annual Icapital.Biz Berhad Investor Day 2016 in the afternoon right after the lunch. Unlike other AGM, not many shareholders attended this AGM. I was worried about the expensive parking rate at KLCC. However to my relief, I found a cheap parking ^_^!

The RM4 per entry parking nearby KLCC.
Mr Tan explained each of the shares performances of their Icap holdings during the AGM. According to him, Icap had sold their all their stakes in VITROX; currently they are still holding BSTEAD, PADINI, PARKSON, F&N (who sponsored the mineral water).....  And they are still holding more than 60% cash for more opportunities for the coming financial crisis. Unlike last year, he spoke with cautious this time without giving a single hint on his forecast on the exact time of bottom out.

The doorgifts – Parkson Voucher RM20, a lunch voucher and Icapital exclusive offer RM99/RM49 (a year). Not much surprise can be expected as this company is not a shareholder friendly company.

The lunch box was prepared by KLCC. The food quality was good and delicious.
I was amazed by an interesting video shared by Icapital during the AGM. The video lasted about 1 hour. It explained in details about the future of the business world where new technology disruption framework is going to happen and subsequently will lead to market disruptions in short time. This video sounded so real, and it is happening right now. I was quite worried about the future O&G industries, Power Industries, Transportation industries…after watching this video...many of them will become obsolete in 2030 or as soon as 2020 like what had happened to Nokia and Kodak. Please click at the image below to watch this video.

Disclaimer: Icapital is a boring counter with no DY. This is just purely a sharing of information and it is not a buy call. Please trade at your own risk.

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