My Portfolio Nov25

 Summary For November 2025

Portfolio @ End of Nov25

November was a bad month to me as my portfolio was down by 5.3%, deepening the YTD loss to 8.9%.

The faint hope to end 2025 with a positive gain has officially gone.

The main culprit for the poor portfolio performance in Nov25 was MMSV, which plunged 41% after a poorer than expected FY25Q3 result.

Initially I didn't hold a lot of MMSV shares but I added more at 60sen before the result announcement.

It was not an extremely bad quarter result actually with net profit of RM1.85mil (EPS 0.94sen) but the market expected it to beat preceding FY25Q2 net profit of RM2.8mil.

Furthermore, the management painted a "challenging" future quarters which was exactly the opposite of what was said 3 months ago.

Together with major correction in tech sector globally, MMSV could not escape the heavy sell down.

I sold part of its shares at 55sen though, only to regret not selling all of them.

AirAsia & AirAsia X Finally Come Together

 

After much delay, the acquisition of Capital A's aviation business by AirAsia X (AAX) will be completed soon.

AirAsia is undoubtedly a well-known aviation brand which makes Malaysian proud. After the acquisition is completed, is AAX at current share price of RM1.60+ undervalued or overvalued?

To recap, AAX will acquire AirAsia Aviation Group Limited (AAAGL) & AirAsia Berhad (AAB) from Capital A for RM3bil & RM3.8bil respectively.

AAAGL provides air transport service from the Philippines, Thailand, Indonesia & Cambodia, while AAB provides air transport service from Malaysia.

AAX itself provides medium to long-haul air transport service from Malaysia (& Thailand).

After this corporate exercise, AAX will become an attractive aviation group housing all AirAsia short, medium & long haul air travels.

However, AAX currently has a net current liabilities. How can it afford to swallow 2 companies valued at RM7.8bil combined?

Is It Safe to Bottom-Fish PTRANS?

There is one company who keeps breaking its record high net profits for 10 consecutive years since IPO listing in 2016. It even achieved profit growth in the year of 2020 disrupted by Covid-19.

It's not selling gloves or Covid-19 test kits or vaccines. It's not QL or Scientex either.

The company is Perak Transit Berhad (PTRANS) who operates bus terminals, provides public bus transport services & owns petrol stations which were supposed to be badly hit by Covid-19 lockdown.

Now it even achieves a fantastic feat of  9 consecutive quarters of record high net profits which seems to be sustainable going into the near future.

It is like a "dream company" that most fundamental investors would want to have in their portfolio.

Its magnificent share price run spoke for itself. It rallied from 30sen to over 85sen (both adjusted share price) within a few months in 2022.

However, after hovering around 70sen since Apr25, its share price took a sudden dive to 33.5sen on 22 Oct25, and keeps tumbling to 26.5sen now.

Most of its investors were caught off guard and suffered heavy loss.

Why did the share price of PTRANS fall so hard in the first place?

Can Insights Analytics Conquer West Malaysia?

 

Insights Analytics Berhad (IAB) made a successful debut in the ACE market on 27 Oct25.

Its share price opened at 62sen, which was 72% higher than its IPO 36sen and reached a height of 73sen. It closed at 65.5sen with an impressive 82% gain on day one.

On 7 Nov25, its share price has rallied to 81.5sen.

IAB is a Sarawak-based water technology solution provider established in 2003.

Its IPO price of 36sen seems reasonable with a PE ratio of 10.4 based on FYE2025 (ended Apr25) PAT of RM19mil and enlarged shares of 550mil after IPO.

However, there was a 175% jump in PAT from RM6.9mil in FY24 to RM19mil in FY25, which might make some investors cautious.