Leigh

Genesis Mining ROI and Other Updates

By Leigh
Updated December 4, 2021 Filed Under: Cryptocurrencies 15

Cloud Mining on Genesis

As promised, here’s an update on my 2-year Dash(x11) mining contract with Genesis Mining. But first, I’d like to thank everyone for the love and using my promo code – KT7r1S (it gives you a 3% discount upon purchase by the way).

If you’re perplexed and utterly confused by everything I’ve just said, head over to my previous post – Bitcoin Cloud Mining in Malaysia.

Now, the update!

ROI on Genesis – Cloud Mining Dash (x11)

I’ll be using the payout on 20th July because the one on 19th includes mining from when I signed up on the 18th.

As of right now, Dash is valued at USD 186.69. That gives me about USD 0.247 per day and USD 90.29 per annum from mining. I spent USD 93.20 purchasing the 2 year contract. That’s an ROI of around 96.8% pa.

Of course, all this is provided the price and mining difficulty remain constant. Which won’t.

Now, this ROI will increase when I purchase the USD500 contract as you get more MH/s per USD. I’m limited to the current one because Genesis has a USD per day limit for Dash x11 contracts (due to the huge demand). Nevertheless, I’ve still been adding and purchasing more Dash mining contracts because I do see Dash’s potential in the future.

I’m really loving Ethereum as well. I’ll be adding more mining power for Ether next month. For now, I’ve been slowly accumulating Dash (x11) and I’m currently almost reaching 50 MH/s. Still waiting for their USD100 per day limit to be lifted so I can get that USD500 for 100MH/s contract.

With the promo code – KT7r1S , I’ll be paying USD485 for 100MH/s. This will be the most value for money in terms of dollars paid per MH/s.

Storing my Coins

Because I’m mining alternative coins like Dash (x11) and Ethereum, I opted to store them on a multi wallet. I use Exodus. Their UI is awesome.

So after transferring and storing my alt coins on Exodus, I’ll then move it to a more local (Malaysian friendly wallet) – Luno.

Enter my promo code: LNDVDMAGIC50. You can still enter the code after signing up. Inside your account as shown in the picture below.

End.

As mentioned earlier, the next big purchase would be Dash (x11)’s USD485 for 100MH/s mining contract. Thereinafter, I’ll be focusing on Ether mining and then reinvesting my returns. In the long run, turning my alternative coins into Bitcoins will be the goal. From there, it’s long term holding of Bitcoin. I’ll have to get used to holding an asset that doesn’t pay interest.

All that being said, the Freedom Fund is doing really well. Hopefully, this exciting little mining venture will pay off in the next 2 years and provide additional funds to be invested in stocks.

Have you purchased any mining contracts with Genesis Mining or are planning to? Hope to hear from my fellow miners. Use promo code – KT7r1S for a small 3% discount.

A warning to everyone, cryptocurrencies in and of itself are extremely volatile and risky. Cloud mining adds to that risk because you’re placing your money with a company and trusting them to continue mining for the foreseeable future. As always, invest at your own risk!

Bitcoin Cloud Mining in Malaysia

By Leigh
Updated December 4, 2021 Filed Under: Investment, Cryptocurrencies 38

Cryptocurrency in Malaysia

If you’ve heard of bitcoin, you would be privy to its meteoric rise in value. If you could go back to 2010 and buy $1,000 worth, it would be worth an estimated $20 million right now.

I won’t be spending too much time explaining cryptocurrencies and Bitcoin here, an awesome guide has already been created by my friends Suraya from Ringgit Oh Ringgit and Aaron from Mr-Stingy.

Instead, I’d like to talk about something I’ve recently invested in – Cloud Mining! Also, we will not limit ourselves to only Bitcoin but other currencies out there as well.

Bitcoin Mining

So first thing’s first, what does mining these currencies entail?

From my understanding and to put it in layman’s terms…

Mining – like mining for gold. You do some work, and you hope to turn up something valuable. In this case, it’s bitcoins.

Mining computers and equipment everywhere in the world are taking in and recording Bitcoin transactions from around the world. They’re making sure that everybody has enough money to complete the transactions, and then they’re adding them to the list of all the bitcoin transactions that have ever happened.

Cloud Mining

The main difference between traditional mining and cloud mining lies in who houses and maintains the mining hardware.

With traditional mining, you buy, set up and maintain the mining rigs. This requires extensive technical knowledge as well as adequate ventilation for cooling and will result in an increase in electricity costs.

On the other hand, with cloud mining, the mining rigs are housed and maintained in a facility owned by the mining company. The customer simply needs to register an account and purchase mining contracts or shares.

These mining contracts immediately start mining your cryptocurrency which is paid out to the user on a regular basis. The user does not have to concern him/herself with ordering, setting up or maintaining the mining hardware. Nor is the user required to fork out a substantial sum as initial mining investment. For as little as USD50, he/she can begin cloud mining.

My Investment

Just today, I’ve started venturing into cloud mining to test the waters. After some tedious research, I’ve decided to go with Genesis Mining. Why? Because they are the largest in the world.

I guess I like having a sort of safety net by investing in the biggest.

Also, with Genesis, they have regular daily payouts and low maintenance fees.

From my research, I found mining alt coins like Dash (x11) to be more profitable. I intend to keep the currency and reinvest them into more raw MINING POWER! Eventually, exchanging them to all time reigning – Bitcoin. Why? Again, because they are the largest.

Cloud Mining Malaysia — *My Order – Use code promo code* **KT7r1S (3% off)**

Cloud Mining Malaysia Pricing — *Genesis Dash Pricing*

Return on Investment (ROI)

I’m still waiting for the payout figures from Genesis. Updated figures will be published here for everyone that is interested.

I spent USD93.20 for that 15 MH/s of mining power. Initially, I wanted to go for the USD500 one for 100 MH/s but they’re limiting the amount to below USD100 per transaction.

Just a test run for now to familiarize myself with everything.

Risks

The main risk I’ve identified with Cloud Mining (as with everything else) is the price as well as the mining difficulty. It gets increasingly difficult to mine coins as the number of transactions goes up and more and more people get into mining.

My USD93.20 lasts for 2 years. At current rates, I expect a full ROI in a year (I’m being conservative). However, if the price of my coins drop below the threshold of which I’ll be able to make a profit, I’ll then be stuck with a 2-year mining contract making a loss.

Getting Started

Cloud Mining on Genesis

It was pretty straight forward for me, I headed over to Genesis, registered for an account. Proceeded to select my package and paid with my credit card.

If you’re using Genesis as well, please go ahead and key in the following code: KT7r1S which gives you a 3% discount on your purchase.

Storing my Coins

Because I’m mining alternative coins like Dash (x11) and Ethereum, I opted to store on a multi wallet. I use Exodus. Their UI is awesome by the way.

So after, transferring and storing my alt coins on Exodus, I’ll then move it to a more local (Malaysian friendly wallet) – Luno.

Enter my promo code: LNDVDMAGIC50. You can still enter the code after signing up. Inside your account as shown in the picture below.

End.

I know this is a move away from my usual investments in shares. However, as it is an (very risky) investment nonetheless for me, I’ve decided to put up a post on it.

I’ll probably be spending about RM5 – RM10K if all goes well with my initial investment.

I’m prepared to lose this money at the time of writing.

A big thank you to Suraya from Ringgit Oh Ringgit for showing me the ropes and answering my newbie questions.

Thank you for reading!

Nestle Malaysia AGM – Door gift / Goody Bag (April 2017)

By Leigh
Updated May 14, 2019 Filed Under: Dividends, Annual General Meetings (AGM), Doorgift / Goody Bag 25

Nestle Bhd 2017 AGM

Nestle Malaysia Bhd had their annual general meeting on 27 April 2017. I’m a month late in posting this but if you’ve been keeping up with my Facebook updates, you’d know that I went for the AGM but Nestle had, unfortunately, ran out of their door gifts. So here are the events that transpired.

The Annual General Meeting (AGM)

27 April 2017 was a gloomy Thursday and Nestle’s AGM was set to begin at 10 am. I was a little late and arrived at 10.15 am. The meeting was already underway and I didn’t want to disturb everyone by entering late. I proceeded to register myself and collect my door gift.

The whole AGM had a carnival-like atmosphere to it. Nestle set up a few booths promoting their new products and I’m pretty sure the shareholders that arrived before me had a wonderful time. However for me, arriving at 10.15 am, I only got to witness the aftermath.

Nestle Malaysia AGM 2017 — *Nestle – Creating Shared Value*

Nestle Ran Out of Door Gifts!!

So, adding salt to my wounds, I found out after queuing for a good 15 minutes that Nestle had run out of door gifts and vouchers. Obviously, the shareholders weren’t happy with this and were making a scene the whole time.

Picture a hundred or so royally pissed old folks all around you, raising their voices at the poor Nestle IR team and demanding door gifts even though they had none. It’s not like they didn’t have a solution, Nestle had promised to deliver the door gifts to us. We just had to write down our contact details.

I didn’t see the point in arguing or reprimanding the good people at Nestle, it’s not like they could magically produce more goody bags for us.

19 May 2017 – The Arrival

Nestle’s door gift arrived on my doorsteps on 19 May 2017. It came with a nice little card thanking me for my patience as well as an RM50 Lazada voucher which was only eligible for Nestle products.

In the box were the usual Maggi noodles, Nescafe powder, and cereal. Passed all of it to my family and I took the bottle of Milo for myself. With the RM50 Lazada voucher, I bought myself 30 cans of 240 ml Nescafe Latte.

All in all, it was a pretty good haul for me as a shareholder.

Investing in Nestle Malaysia Bhd

I’ve been a firm and staunch shareholder of Nestle Malaysia since March of 2014. I’ve also been receiving their goody bags in 2015, 2016 and most recently this year.

I own 200 units of shares in Nestle with a gross investment of RM13,376. Since 2014, I’ve received a total of RM1,620 in dividends from Nestle. That’s a 12% return via dividends only for 3 years. Today, my investments in Nestle are worth RM16,460, giving me a capital gain of 23.06%.

I’m expecting better dividends this month from Nestle and I’ve been looking for an opportunity to purchase more shares for 3 whole years now. The company just keeps growing, even with the implementation of GST in Malaysia.

Another really exciting development from Nestle Malaysia is their foray into e-commerce. The company is working really hard to increase revenue from their online sales and it should see huge increases in contribution to their bottom line in the coming years.

Do you own any shares in Nestle Malaysia? What do you think of the company?

Thanks for reading!

For more AGMs, head over hERE for a long list of Malaysian companies and their door gifts.

Revised Maybank GIA-i – The Fairy Tale is OVER

By Leigh
Updated May 27, 2017 Filed Under: Fixed Deposits, Savings Accounts etc 17

Maybank GIA-i is No More

Maybank Dividend — Malayan Banking Berhad

It’s official, my favorite place to park my excess cash has been replaced with something alien. Maybank yesterday announced a change to their immensely popular Maybank GIA-i account. Coincidentally, I had a post up about this account just last month, lauding it’s high interest rates and liquidity. Sadly, all good things must come to an end. I just didn’t expect the end to come so swiftly and abruptly.

The ‘new’ GIA-i will take effect from 16 June 2017. Interest rates will be reduced then. On 1 August 2017, your liquidity will be taken away. The revised features and rates can be found below.

The Revised Features

These are the ‘revised’ features we are left with. You basically forfeit your interests/profit if you uplift prematurely. It’s similar to CIMB’s Unfixed Deposit.

The Revised Rates

As you can see, you get your 3.45% only when you invest for 48 months. They even threw in a 3.55% for a 60-month long placement.

This is Shit

I’m calling it what it is. This is what Maybank is telling you, right now.

We’re giving you less interest.

We’re not letting you withdraw/uplift your placements without foregoing your interests.

On top of that, you’re still not getting PIDM protection for GIA-i.

So I ask you Maybank, what is the point of the GIA-i now? All other FDs are better in comparison out there. For example, putting my money in a 1 month FD with Maybank themselves will net me 2.95% today. I’d very much sacrifice that 0.5% return for some PIDM protection.

Alternatives

So, where does that leave us?

I’ll likely be placing my cash in Fixed Deposits. I’m planning to consolidate my holdings into a single bank and go for premier/priority banking in order to get better rates. Looking at Public Bank right now. Will keep you guys updated.

Another good alternative is Fundsupermart’s Cash Management Fund. Although I don’t like the 2-day waiting period for funds to reach your pocket. And they offer about 3.2 – 3.3% interest.

Do you guys have any other alternatives to Maybank GIA-i to share? Let me know.

End.

It really is an end to an era with Maybank’s decision to revise their very popular GIA-i. I believe it could be due to abuse by some customers who withdraw and make placements every day to the interests daily. Maybank may change their mind in time when they realize just how many of their customers are using their GIA-i. Then again, maybe not.

There will always be bumps and challenges along the way and this will certainly pose some interesting problems to my Freedom Fund. It’s time to rethink and re-strategize. I’ll be meeting with a Public Bank Manager next week to discuss their red carpet banking.

Any of you are red carpet clients with Public Bank or priority clients with other banks? Please do let me know about it as I’m new to this.

Thanks for reading.

AirAsia AGM 2017 – RM500 Flight Voucher

By Leigh
Updated May 14, 2019 Filed Under: Annual General Meetings (AGM), Companies in the News, Doorgift / Goody Bag 39

AirAsia’s 2017 AGM

First off, do forgive me for the lack of Facebook updates this time around as I was feeling a little under the weather throughout the day. That being said, I had a marvelous time attending AirAsia’s 2017 AGM this year with my newfound friends – Steve and Heng.

I arranged to meet up with them at Subang’s LRT station at 8 am. Steve had graciously volunteered to give us a ride to the Asian Aviation Centre Of Excellence where AirAsia’s AGM was to be held at 10 am. We arrived with an hour to spare and set about registering ourselves for the meeting first. Next up was the food!

The Food

There were significantly fewer shareholders attending the AGM this year so registration was swift and smooth for us.

We headed for the food next and this was what AirAsia served up. I think it’s similar to what you’d get on their flights. Compared to some of the other AGMs I attended, AirAsia’s nasi lemak was amazing!

Air Asia AGM 2017 — *AirAsia’s Nasi Lemak*

The Annual General Meeting

AirAsia’s 2017 AGM was truly well run. The questions posed by shareholders were well-thought out and intelligent. The management revealed their capabilities and experience through their answers as well as video presentations.

AirAsia 2017 Doorgift / Goody Bag

The doorgift this year was similar to the previous year’s. All attending shareholders got a RM500 flight voucher. Holiday, here I come!

The terms and conditions of the voucher will be delivered together with the vouchers. I’ll update accordingly. Another fantastic thing about AirAsia is their annual report, they’re actually making money through endorsements and sponsors with their reports! I’ve requested for mine to be delivered so again, I’ll update when I get it.

My very lucky friend Steve managed to get his cap signed by Tan Sri Tony Fernandes and Ms. Aireen Omar.

Findings from AirAsia’s 2017 AGM

Logistics for AirAsia

The management’s plan to venture into the logistics industry was one of the airline’s strategies I found to be the most exciting. With over 200 aircraft at AirAsia’s command and tons of belly space in those said aircraft, the plan seems to be a remarkably viable one.

“Companies like Amazon were planning to buy airlines and incorporate them into their logistics operations. AirAsia already has an airline.” Tony Fernandes on the management’s vision of AirAsia as a future logistics player. AirAsia is currently in talks with POS Malaysia and Singapore Post with possible partnerships and cooperations.

No Merger with AAX

At the AGM today, AirAsia Group CEO Tan Sri Tony Fernandes said the merger was never tabled to the board of directors, and the management remains in their belief that both short and long haul operations should be separated.

“AirAsia’s position is very clear, the board has never discussed this and there is no merger at all,” he said.

“The whole purpose of setting up AAX as a separate company, is because we believe it should be separated, and 10 years on we still believe that,” he added.

This came amid wild speculations from research analysts on potential mergers between the two airlines. The statement from Fernandes should put them to rest.

Special Dividends

Tony Fernandes also mentioned his plans for several special dividends for shareholders as AirAsia unlocks value from the assets it currently owns. Currently in the mix are the sale and disposal of Asia Aviation Capital (AAC), AirAsia’s leasing arm. Other potential assets mentioned were the 50% owned Academy – Asian Aviation Centre Of Excellence as well as stakes in companies such as Expedia.

Fernandes plans to pay out special dividends every 2 -3 years if and when AirAsia manages to dispose of their many assets and stakes.

Digitalization and Market Share

AirAsia is moving ahead of its competitors through technology. The airline plans to utilize their vast database of customers via their many planned digital platforms. From increasing ancillary sales on flights by understanding their customers better to grabbing and retaining market share through their BIG loyalty program.

There are many innovations and new things coming to AirAsia in the not too distant future. While I’m excited by some, I’m equally unsure about some of the initiatives mentioned. We shall see.

End.

At 6 pm yesterday, AirAsia released their Q1 2017 results which saw net profit drop by 29.8% to RM615.81 million. A key contribution to the drop in net profit is the sharp increase in staff cost by 27% as the airline aims to prevent a shortage of pilots by offering more attractive remuneration packages.

Many of you would’ve been shocked at the dip in AirAsia’s price on 24 May 2017 mainly due to the bad results of AAX. I am hoping for a further drop in price today as I am looking to purchase more of the stock.

I very much still believe in the management team at AirAsia and I’m confident of a good year ahead for the airline.

What do you think of AirAsia?

Thanks for reading and a special thanks to Steve for the ride to the AGM!

For more AGMs, head over hERE for a long list of Malaysian companies and their door gifts.

Tune Protect Group Berhad – Insurance Made Easy

By Leigh
Updated May 22, 2017 Filed Under: Annual General Meetings (AGM), Companies in the News, Dividends, Doorgift / Goody Bag 12

Tune Protect Group

Overview

Tune Protect Group Berhad (“Tune Protect”), previously known as Tune Insurance Holdings Berhad is listed on the main market of Bursa Malaysia since its initial public offering in February 2013. The main business of Tune Protect is in insurance and reinsurance, primarily travel insurance and general insurance. Through its alliance with AirAsia and its affiliates, Tune Protect has been one of the major travel insurance players in Malaysia and the ASEAN region.

I purchased a total of 10,800 shares in Tune Protect (TUNEPRO 5230) back in February and July 2015 for an average price of RM1.7133.

Tune Protect Fundamentals – Annual Report 2016

The financial year 2016 has been a positive one for Tune Protect when compared to the dismal year of 2015. The company grew revenue by 7.6% to RM516.6 million. Profit after tax increased by 18.8% to RM86.6 million. Shareholders equity also grew 10.1% to RM496.6 million. Earnings per share of the company have grown to 10.64 sen from 9.17 sen a year ago.

Profitability metrics are more than suitable. Tune Protect has a return on equity of 16.1%. A good, solid number here.

For a more comprehensive view of the company’s financials, the 2016 Annual Report can be downloaded hERE.

Tune Protect, AirAsia and Tune Group

Tune Protect Ownership / Shareholders — *Tune Protect Ownership*

15.77% of Tune Protect is owned by Tune Group Sdn Bhd whose joint-shareholders are Tan Sri Tony Fernandes and Datuk Kamarudin Meranun. Another 13.65% is further owned by AirAsia Berhad. This strong correlation to AirAsia is the reason for the strong partnership between Tune Protect and the airline. I view this as a double-edged sword because Tune Protect is deriving most of its travel insurance income from AirAsia customers – a risk in my opinion.

That being said, this risk also creates a secure and all but guaranteed stream of income for Tune Protect. AirAsia and its owners Tan Sri Tony Fernandes and Datuk Kamarudin Meranun both have a significant interest in the company and I don’t foresee a break in the strategic alliance between the parties.

Tune Protect Insurance Structure — *Tune Protect Corporate Structure – 2016 AR*

Conclusion

All in all, I view Tune Protect as an insurance company with immense growth potential. I particularly like the direction the company is going in terms of digitalisation and ease of usage. The company’s partnership with AirAsia puts it in a strong position in the travel insurance industry.

In 2016, Tune Protect added RM540 to my annual dividend income, a 2.92% dividend yield for 2016. The stock is trading at RM1.58 today (22 May 2017), translating to a capital loss of 7.78% for me.

Have you taken a look at this stock? Like it?

Tune Protect Group – AGM 2017

Tune Protect Group to face ‘Short-term Pains’ in 2017

Tune Protect AGM Doorgift Tony Fernandes — *Tony Fernandes and Kamarudin bin Meranun*

The management stated in the AGM today that Tune Protect is quietly optimistic moving forward. They’re expecting to maintain single digit growth for the 2017 financial year.

Towards the end of 2016, the Malaysian Aviation Authority’s new requirement for airlines to provide an “Opt-in” facility for travelers purchasing travel insurance. This has huge negative implications for Tune Protect. However, management has several initiatives planned to offset this. The company is planning to collaborate with AirAsia, leveraging on the airline’s technology and digital platform.

AirAsia, Tune Protect ‘about to announce big tie up’

KUALA LUMPUR (May 22): AirAsia Bhd group chief executive Officer Tan Sri Tony Fernandes said the budget airline and Tune Protect Group Bhd will announce a major collaboration to further grow both companies’ income.

AirAsia is the largest shareholder in insurer Tune Protect with a 13.65% stake as at April 10, 2017. Tune Protect’s units include Tune Insurance Malaysia Bhd and Tune Insurance Labuan Ltd.

“Airasia and Tune Insurance about to announce big tie up. Both incomes will grow. PC (press conference) later.

“I believe Tune will create new markets through digital insurance,”
Fernandes said via Twitter.

The Edge Malaysia

Tune Protect 2017 AGM Doorgift / Goody Bag

I had a mini heart-attack today as I arrived to register for the AGM. They told us they ran out of door gifts again but fortunately more were on the way. I headed in to attend the AGM first after being told there would be enough gifts for everyone after the AGM. The AGM was conducted in GSC’s cinema theater and it was a well-run meeting.

Tune Protect AGM Doorgift — *A tote bag that can be worn as a backpack is how I’d describe this.*

End.

Surprisingly, the AGM today wasn’t filled with dumb questions. The shareholders today were much more sophisticated and involved.

The investor relations team from Tune Protect did a good job handling some rowdy shareholders who weren’t happy because they had to wait a few minutes for their door gifts. Some were even complaining because they wanted bottled waters to bring home.

To the Tune Protect IR team, thank you for a good AGM. And if it is of any consolation, I apologize for the garbage and self-entitled attitudes from some of my fellow shareholders.

Wanted to get a picture with Tony Fernandes but I was rushing to get some errands done. Doubt I’ll be able to during AirAsia’s AGM this coming Thursday (25/5/2017) due to the crowd.

Let me know if you’re attending the AGM this Thursday, we’ve still got 1 more slot in our little carpool squad.

After the AGM ended at around 11.30 am, I headed to Secret Recipe to redeem my RM20 cash vouchers. Had a plate of Stewed Australian Beef and a cup of coffee. Paid an extra 11 bucks for those.

As at 4 pm today, Tune Protect’s share price rose 11% to RM1.57, for a market value of a little over RM1 billion.

Thank you for reading!

Leigh

Cloud Mining on Genesis

ROI on Genesis – Cloud Mining Dash (x11)

Storing my Coins

End.

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Cryptocurrency in Malaysia

Bitcoin Mining

Cloud Mining

My Investment

Return on Investment (ROI)

Risks

Getting Started

Cloud Mining on Genesis

Storing my Coins

End.

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Nestle Bhd 2017 AGM

The Annual General Meeting (AGM)

Nestle Ran Out of Door Gifts!!

19 May 2017 – The Arrival

Investing in Nestle Malaysia Bhd

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Maybank GIA-i is No More

The Revised Features

The Revised Rates

This is Shit

Alternatives

End.

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AirAsia’s 2017 AGM

The Food

The Annual General Meeting

AirAsia 2017 Doorgift / Goody Bag

Findings from AirAsia’s 2017 AGM

Logistics for AirAsia

No Merger with AAX

Special Dividends

Digitalization and Market Share

End.

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Tune Protect Group

Overview

Tune Protect Fundamentals – Annual Report 2016

Tune Protect, AirAsia and Tune Group

Conclusion

Tune Protect Group – AGM 2017

Tune Protect Group to face ‘Short-term Pains’ in 2017

AirAsia, Tune Protect ‘about to announce big tie up’

Tune Protect 2017 AGM Doorgift / Goody Bag

End.

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