Uncle Kee I really think 2.8 might be on the high side.

So, Mr. Auditor, how’s Gan doing? Still managing to survive somehow? Every stock he picks tanks and I’m starting to wonder if his EPF fund’s already gone down into the drain

He bragged his returns beat EPF, so he cashed out everything. Now his group’s wondering if he really went all-in on BAT but mention it, and he scolds them. Funny, since even his daughter’s portfolio is drowning in BAT and GENM. His so-called software clearly flopped, yet he’s dragging his feet on refunds while clinging to annual fees. Maybe one member’s just a secret admirer someone has to still believe the circus, right?

The article highlights BAT Malaysia’s enviable cash returns, but I see a deeper problem: investors risk being lulled into the comfort of TTM cash flows while ignoring the structural erosion beneath.
Yes, BAT Malaysia delivered a solid ROIC and ROE, but TTM revenue has stagnated and profits are being sustained more by price hikes and cost cuts than by genuine volume or market growth. That is financial engineering, not a scalable business model. With illicit trade eating into legal sales and new categories still too small to matter, the core combustible business remains in decline.
Even if BAT ekes out another good year of cash flow, the question is: why allocate capital here when Bursa Malaysia has multiple companies with actual growth runways? Whether in consumer staples, export-oriented tech, or logistics, there are listed names showing TTM revenue and profit expansion backed by structural tailwinds. Compared to those, BAT looks more like a yield play masking long-term decay.
Investors should ask:
Are we buying durable cash flows, or just milking a sunset industry?
If BAT’s TTM revenue is flat and its future upside depends on defending against illicit trade and squeezing costs, is that really superior to companies compounding earnings in growing sectors?
With many better businesses in Bursa delivering both dividends and growth, why bother with BAT beyond a narrow dividend-harvest strategy?
In short, BAT Malaysia’s investment case feels less like “buying cash flows” and more like settling for declining cash flows when the broader market offers healthier alternatives.

I’d call it karma being a bitch. He thought he was clever scamming money and outsmarting the system just so he could send his kids to public uni, but money has a way of being spent and now it’s slipping away from him one way or another

Word has it his daughters, even after matriculation, couldn’t make it into public uni and ended up in some bargain basement private university instead. This from a man who never stops boasting about how “exceptional” they are in academics, though clearly the social skills and EQ tell a different story. Is this considered karma, or just poetic justice catching up?

For a cheapskate crook like him, after years of bragging about his “wealth”, his portfolio’s now back to zero, EPF not even hitting a million, and still two kids bleeding him dry in private uni. What else can he do? Of course he’s clutching every cent, pretending it’s part of his “strategy.”

So this shameless Gan actually published a book? Not surprising at all , his whole game has always been stepping on others just to inflate his own ego. In his paid group, his crappy software is beyond questioning, and the moment someone dares to ask for clarification on his stock picks, he acts like his throne is being attacked. He’s nothing more than a crook through and through.

He’s obviously the latter, but somehow he’s smug enough to believe he’s the best even bragging he can outdo the EPF. Makes you wonder if his math flunked him, or if common sense just skipped his brain entirely.

The problem is, he’s not even good , his YTD profile performance is negative 50% yet he keeps buying calls and leading his paid group astray. He loves to parade himself as the ‘Mayor of Arbitrary’ and even fancies himself as Malaysia’s Warren Buffett.