Exit By Company Valuation Draf transkrip automatik penuh. Pembetulan istilah berdasarkan sumber direkodkan secara berasingan; tanda semakan menunjukkan perkataan yang perlu diperiksa. [00:00:00–00:00:05] Chapter terakhir, Exit Strategy dan ini adalah Exit By Valuation. [semak: uncertain words] [00:00:05–00:00:08] Kalau sebelum ni kita dah belajar yang ni, kita nak pergi yang ni pula. [00:00:08–00:00:11] Exit By Valuation. [semak: uncertain words] [00:00:11–00:00:17] Guys, akhirnya saya nak share dengan awak empat cara nak buat company valuation. [semak: uncertain words] [00:00:17–00:00:21] Hulamak, lepas belajar benda ni, awak dah macam sembang korporat tu. [semak: uncertain words] [00:00:22–00:00:22] Korporat tu. [00:00:23–00:00:26] Okay, first kali dia panggil sebagai AV, Asset Valuation. [semak: uncertain words] [00:00:27–00:00:29] Okay, AV, Asset Valuation. [00:00:30–00:00:34] So, asset valuation ni adalah valuation berdasarkan nilai asset yang awak ada. [00:00:34–00:00:38] Contohnya, awak ada rumah, kereta, awak ada ofis, awak ada duit. [00:00:38–00:00:39] Asset ni, formula ni simple je. [00:00:40–00:00:41] Asset minus liability. [00:00:41–00:00:42] Boleh tengok dekat situ. [00:00:42–00:00:43] Asset ni maksudnya apa? [00:00:44–00:00:44] Apa-apalah. [00:00:45–00:00:47] Kereta, rumah, contohnya awak ada cash dalam bank account awak, [00:00:48–00:00:51] awak ada perabot, awak ada mikrofon ke, [00:00:51–00:00:54] apa-apa sahaja asset yang ada dalam business awak, [semak: uncertain words] [00:00:54–00:00:56] itu adalah asset. [00:00:56–00:00:58] Apa-apa sahaja barang, berharga, yang ada nilai. [00:00:58–00:01:00] Tapi kalau katakanlah saya punya microphone ni [00:01:00–00:01:02] Saya kena bayar hutang dengan bank setiap bulan [semak: uncertain words] [00:01:02–00:01:03] Sebab itulah formula dia [00:01:03–00:01:05] Asset tolak liability [00:01:05–00:01:06] Liability ni apa? [semak: uncertain words] [00:01:06–00:01:08] Adalah hutang ataupun tanggungan [00:01:08–00:01:09] So [00:01:09–00:01:10] Berapa nilai company awak [00:01:10–00:01:12] Semua sekali katalah RM100,000 [semak: uncertain words, number or amount] [00:01:12–00:01:16] So katalah company awak ni RM100,000 [semak: uncertain words, number or amount] [00:01:16–00:01:20] Tapi tolak dengan hutang-hutang ataupun liability tanggungan [00:01:20–00:01:21] Oh tanggungan saya [00:01:21–00:01:23] Saya kena bayar sana sini tuan [00:01:23–00:01:24] Ni bukan yang bayaran bulanan tau [00:01:24–00:01:26] Yang ni yang asset punya liability [00:01:26–00:01:28] Maksudnya, saya punya microphone ni [00:01:28–00:01:30] Harga RM10,000 tapi [semak: uncertain words, number or amount] [00:01:30–00:01:32] Loan dengan bank masih RM3,000 [semak: number or amount] [00:01:32–00:01:34] Jadi nilai dia RM10,000 ke berapa? [semak: number or amount] [00:01:34–00:01:35] Tak, nilai dia adalah RM7,000 [semak: number or amount] [00:01:35–00:01:38] Sebab nilai dia adalah ibarat RM10,000 [semak: number or amount] [00:01:38–00:01:39] Harga ni tolak dengan RM7,000 [semak: number or amount] [00:01:39–00:01:41] So nilai dia tolak dengan RM3,000 [semak: number or amount] [00:01:41–00:01:43] So nilai dia adalah RM7,000 [semak: number or amount] [00:01:43–00:01:45] Macam tu, sama macam company kita [semak: uncertain words] [00:01:46–00:01:47] Ada tak company berhutang apa-apa? [00:01:48–00:01:50] Duit yang kena bayar pada vendor ke apa-apa [00:01:50–00:01:51] Sebab monthly overhead tu [00:01:51–00:01:52] Madam [semak: uncertain words] [00:01:53–00:01:55] Monthly overhead tu, dia tidak dikira sebagai [semak: uncertain words] [00:01:55–00:01:57] Tidak dikira sebagai [00:01:57–00:01:58] Liability [00:01:58–00:01:59] Itu cost overhead [semak: uncertain words] [00:01:59–00:02:00] So katalah [00:02:00–00:02:01] Oh saya punya liability [00:02:01–00:02:02] Adalah 30k tuan [semak: number or amount] [00:02:02–00:02:03] Jadi alhamdulillah [00:02:03–00:02:04] Company awak [00:02:04–00:02:05] Bernilai [00:02:05–00:02:06] 70k [semak: number or amount] [00:02:06–00:02:07] Dah settle [00:02:07–00:02:07] Cerita je [semak: uncertain words] [00:02:07–00:02:09] Maksudnya berapa [00:02:09–00:02:10] Value company saya [00:02:10–00:02:11] 70,000 [semak: number or amount] [00:02:12–00:02:14] Dan nombor dua pula [semak: uncertain words] [00:02:14–00:02:15] Adalah dipanggil sebagai [00:02:15–00:02:16] Profit valuation [00:02:16–00:02:17] Yang ni yang saya lebih [00:02:17–00:02:18] Prefer lah [00:02:18–00:02:18] PV [00:02:18–00:02:20] Profit [00:02:20–00:02:21] Valuation [00:02:21–00:02:22] Valuation profit ni [00:02:22–00:02:23] Mengikut nilai [00:02:23–00:02:25] Keuntungan tahunan kita [00:02:25–00:02:26] Berapa awak untung setiap tahun [00:02:26–00:02:29] Bila katakanlah kita audit keuntungan bersih awak [semak: uncertain words] [00:02:29–00:02:30] Lepas dah tolak [00:02:30–00:02:32] Apa-apa pun semua [semak: uncertain words] [00:02:32–00:02:32] Okey tuan [semak: uncertain words] [00:02:32–00:02:34] Keuntungan bersih saya adalah [00:02:35–00:02:37] RM100,000 [semak: number or amount] [00:02:37–00:02:37] Oh [00:02:37–00:02:40] Ni pada tahun 2024 [semak: uncertain words, number or amount] [00:02:40–00:02:41] Tahun lepas [00:02:41–00:02:42] Katakanlah [00:02:42–00:02:43] Jadi [00:02:43–00:02:44] Kalau untung awak RM100,000 [semak: uncertain words, number or amount] [00:02:44–00:02:46] Ada satu benda dipanggil sebagai [00:02:46–00:02:47] PE multiple [semak: uncertain words] [00:02:47–00:02:49] PE multiple ni adalah [00:02:49–00:02:50] Price to earning ratio [00:02:51–00:02:51] Price [00:02:51–00:02:52] Harga company [00:02:52–00:02:54] Berdasarkan earning [00:02:54–00:02:56] income pendapatan [semak: uncertain words] [00:02:56–00:02:57] so maksudnya [semak: uncertain words] [00:02:57–00:02:58] berapa kali ganda [00:02:58–00:02:59] contohnya kalau awak [00:02:59–00:03:00] takkan awak nak jual [semak: uncertain words] [00:03:00–00:03:01] harga RM100,000 [semak: number or amount] [00:03:01–00:03:02] ini maksudnya [00:03:02–00:03:03] PE 1 [semak: uncertain words, number or amount] [00:03:03–00:03:04] ini maksudnya [00:03:04–00:03:05] PE darab dengan [00:03:05–00:03:06] PE 1 [semak: number or amount] [00:03:06–00:03:07] so RM100,000 [semak: number or amount] [00:03:07–00:03:08] darab dengan 1 [semak: number or amount] [00:03:08–00:03:09] dapatlah [00:03:09–00:03:10] RM100,000 [semak: number or amount] [00:03:10–00:03:11] ok nilai syarikat saya [00:03:11–00:03:12] RM100,000 [semak: number or amount] [00:03:12–00:03:13] tapi biasanya jarang macam ni [00:03:13–00:03:14] sebab banyak company [00:03:14–00:03:15] dia akan guna [00:03:15–00:03:16] PE multiplier [00:03:16–00:03:16] maksudnya [00:03:16–00:03:18] nilai syarikat tu [00:03:18–00:03:18] sebenarnya adalah [00:03:18–00:03:19] 5 kali ganda [semak: number or amount] [00:03:19–00:03:20] daripada untung dia [00:03:20–00:03:21] sebab tu kalau tengok [00:03:21–00:03:22] dekat table ni [00:03:22–00:03:23] saya tunjuk [00:03:23–00:03:25] industri tech [semak: uncertain words] [00:03:25–00:03:25] ni [semak: uncertain words] [00:03:25–00:03:26] industri tech [semak: uncertain words] [00:03:26–00:03:27] ataupun SAS [semak: uncertain words] [00:03:27–00:03:28] kebiasaannya [00:03:28–00:03:29] dia punya PE dia [00:03:31–00:03:32] keser [semak: uncertain words] [00:03:32–00:03:32] ok [semak: uncertain words] [00:03:33–00:03:34] company macam [00:03:34–00:03:35] contoh tech [00:03:35–00:03:36] atau SAS ni [semak: uncertain words] [00:03:36–00:03:37] PE dia dalam sekitar [00:03:37–00:03:38] 15% [semak: number or amount] [00:03:38–00:03:39] 15 kali ganda [semak: number or amount] [00:03:39–00:03:40] maksudnya katakanlah [00:03:40–00:03:41] profit dia 100 ribu [semak: uncertain words, number or amount] [00:03:41–00:03:42] nilai dia adalah [00:03:42–00:03:43] 1.5 juta [semak: number or amount] [00:03:43–00:03:45] 15 ke 25 kali ganda [semak: number or amount] [00:03:45–00:03:46] dia adalah company-company [00:03:46–00:03:46] yang high grow [semak: uncertain words] [00:03:46–00:03:47] yang scalable [00:03:47–00:03:48] ini company-company [00:03:48–00:03:49] tech biasanya [00:03:49–00:03:50] that's why [00:03:50–00:03:51] banyak company pergi IPO [00:03:51–00:03:52] busa saham [semak: uncertain words] [00:03:52–00:03:53] yang jadi unicorn [00:03:53–00:03:54] ataupun [00:03:54–00:03:55] billion dollar company [semak: uncertain words] [00:03:55–00:03:57] adalah company teknologi [00:03:57–00:03:58] sebab profit sikit je [00:03:58–00:03:59] tapi di value kan [semak: uncertain words] [00:03:59–00:04:00] 20 kali ganda [semak: number or amount] [00:04:01–00:04:01] healthcare [00:04:01–00:04:03] dia lebih stable lah [00:04:03–00:04:03] strong demand [00:04:04–00:04:05] dan dia punya [00:04:05–00:04:06] valuation dia [00:04:06–00:04:07] biasanya 12 kali ganda [semak: number or amount] [00:04:07–00:04:09] daripada profit [00:04:09–00:04:10] katakanlah kita ambil [00:04:10–00:04:11] industri-industri lain [00:04:11–00:04:12] macam premium [00:04:12–00:04:13] ni barang-barang premium [00:04:13–00:04:13] barang mahal eh [semak: uncertain words] [00:04:13–00:04:14] bukan barang murah [00:04:14–00:04:15] macam beg [semak: uncertain words] [00:04:15–00:04:16] Gucci, Hermes [semak: uncertain words] [00:04:16–00:04:17] apa bagai semua tu [00:04:17–00:04:19] yang ni LV [00:04:19–00:04:20] dalam 10-15 kali ganda [semak: number or amount] [00:04:20–00:04:21] stable brand [00:04:21–00:04:22] steady sale [00:04:22–00:04:22] industries [00:04:22–00:04:24] Industri-industri perkilangan [00:04:24–00:04:25] Apa semua ni [semak: uncertain words] [00:04:25–00:04:27] Dia dalam 8 ke 12 kali ganda [semak: number or amount] [00:04:27–00:04:28] Moderate lah [00:04:28–00:04:29] Sebab orang akan repeat purchase [00:04:30–00:04:30] Retail [00:04:30–00:04:32] Barang-barang retail [00:04:32–00:04:33] Contohnya macam 7-11 [semak: number or amount] [00:04:33–00:04:34] Apa semua kat sini [00:04:34–00:04:36] 6 ke 10 kali ganda [semak: number or amount] [00:04:36–00:04:36] Ini standard [00:04:36–00:04:38] Siapa yang beritahu benda ni [00:04:38–00:04:39] Ini average industry lah [00:04:39–00:04:40] Ada je company [00:04:40–00:04:41] Yang berkali-kali ganda [00:04:42–00:04:42] Utilities [00:04:42–00:04:43] Telekom [00:04:43–00:04:45] 5 ke 8 kali ganda [semak: uncertain words, number or amount] [00:04:45–00:04:46] Oil and gas [00:04:46–00:04:48] 5 ke 8 kali ganda [semak: number or amount] [00:04:48–00:04:49] Nampak volatile [00:04:49–00:04:50] Financial service [00:04:50–00:04:52] Kita tengok jap saham Tesla [00:04:53–00:04:54] Tesla [00:04:54–00:04:56] PE ratio [00:04:56–00:04:57] awak boleh type dekat search [semak: uncertain words] [00:04:57–00:04:58] type Tesla PE ratio [00:04:58–00:04:59] tengok [00:04:59–00:05:01] berapa PE ratio Tesla [00:05:01–00:05:02] ok kita baca eh [00:05:02–00:05:02] Tesla [00:05:03–00:05:05] ratio is approximately [00:05:07–00:05:09] 247 kali ganda [semak: number or amount] [00:05:09–00:05:10] daripada profit dia [00:05:12–00:05:12] gila tak? [00:05:12–00:05:13] gila tak gila guys? [00:05:13–00:05:15] bayangkan Tesla punya level ni [00:05:15–00:05:16] lain macam sikit [00:05:16–00:05:17] sebab tu Elon Musk beritahu [00:05:17–00:05:18] Tesla ni overpriced [00:05:18–00:05:19] memang betul pun [00:05:19–00:05:20] bayangkan Tesla [00:05:20–00:05:22] katalah profit dia [00:05:22–00:05:22] Adalah RM [00:05:23–00:05:24] Seratus [semak: uncertain words] [00:05:25–00:05:26] Juta [00:05:26–00:05:27] Value dia [00:05:27–00:05:28] Bukan ada seratus juta [semak: uncertain words] [00:05:28–00:05:29] Padahal ni profit [00:05:29–00:05:31] Value dia adalah [00:05:31–00:05:32] Darab dengan [00:05:34–00:05:35] 247 kali ganda [semak: uncertain words, number or amount] [00:05:35–00:05:37] Minimum lah kita ambil [00:05:37–00:05:38] Ni sebab dia naik turun ke Raffi [semak: uncertain words] [00:05:38–00:05:39] Berapa ni [00:05:40–00:05:41] 2 bilion [semak: uncertain words, number or amount] [00:05:41–00:05:42] 24 [semak: number or amount] [00:05:43–00:05:44] 0.7 [semak: uncertain words, number or amount] [00:05:45–00:05:45] Bilion [00:05:46–00:05:47] Nilai dia [00:05:47–00:05:49] Sebab kalau 10 kali ganda [semak: number or amount] [00:05:50–00:05:50] 1B [semak: number or amount] [00:05:52–00:05:52] Haa betul tak [semak: uncertain words] [00:05:52–00:05:54] Betul tak [semak: uncertain words] [00:05:54–00:05:54] Cukup daripada [semak: uncertain words] [00:05:54–00:05:55] Aduh banyak sangat nombor ni [semak: uncertain words] [00:05:55–00:05:56] Jam kat saya [semak: uncertain words] [00:05:57–00:05:58] B [00:05:59–00:06:00] Betul lah tu [semak: uncertain words] [00:06:00–00:06:01] Betul lah tu [00:06:01–00:06:02] Haa betul lah tu [00:06:02–00:06:04] 24.7B [semak: number or amount] [00:06:04–00:06:05] Kita tengok Petronas pula [00:06:05–00:06:07] Haa sambil admin tolong kirakan ni [semak: uncertain words] [00:06:08–00:06:09] Petronas [00:06:10–00:06:11] PE ratio [semak: uncertain words] [00:06:11–00:06:12] Kita tengok [00:06:12–00:06:13] Ni public listed company [00:06:13–00:06:13] Biasa memang ada [00:06:15–00:06:15] Petronas [00:06:15–00:06:16] Trailing around [00:06:16–00:06:18] 19.94 [semak: number or amount] [00:06:18–00:06:19] Nampak [00:06:19–00:06:19] Haa okey lah [00:06:19–00:06:22] Petronas tak adalah overpriced sangat [00:06:22–00:06:23] Maksudnya tak adalah power sangat [00:06:23–00:06:24] Tesla memang power lain macam [semak: uncertain words] [00:06:25–00:06:27] Company-company yang seakan-tan dengannya [semak: uncertain words] [00:06:27–00:06:28] Kita tengok Honda ada [00:06:28–00:06:31] Honda PE ratio [semak: uncertain words] [00:06:31–00:06:32] Honda PE ratio [00:06:32–00:06:33] 11 je [semak: uncertain words, number or amount] [00:06:34–00:06:37] Honda punya multiplier dia daripada profit dia [00:06:37–00:06:39] Macam mana Tesla boleh 200 [semak: number or amount] [00:06:39–00:06:40] Saya pun tak faham lah [00:06:40–00:06:41] Itu kuasa branding Elon Musk [00:06:41–00:06:43] Elon Musk [00:06:44–00:06:44] Toyota [00:06:44–00:06:45] Tengok Toyota pula [00:06:46–00:06:48] Toyota 8 [semak: number or amount] [00:06:48–00:06:49] Oh rendah betul eh [semak: uncertain words] [00:06:49–00:06:51] Dia kadang-kadang company besar ni dia banyak risiko [semak: uncertain words] [00:06:51–00:06:53] Jadi itulah valuation [semak: uncertain words] [00:06:53–00:06:54] Sebab ada seorang ni [00:06:54–00:06:55] Dia DM saya [00:06:55–00:06:58] Tuan, saya nak jual company saya tuan [00:06:58–00:07:00] Saya sale RM100,000 sebulan [semak: number or amount] [00:07:01–00:07:03] Okay, RM100,000 sebulan [semak: uncertain words, number or amount] [00:07:03–00:07:05] Jadi saya nak jual company saya [semak: uncertain words] [00:07:05–00:07:08] Sale saya RM100,000 sebulan [semak: number or amount] [00:07:08–00:07:10] Profit dalam RM10,000 macam tu [semak: number or amount] [00:07:10–00:07:11] Dia ambil case tadi ya [semak: uncertain words] [00:07:11–00:07:13] RM100,000 sale dia [semak: number or amount] [00:07:14–00:07:16] Lepas tu dia kata profit dia dalam sekitar [00:07:16–00:07:18] RM20,000 ke RM10,000 lah [semak: uncertain words, number or amount] [00:07:18–00:07:19] Saya ingat saya macam tu [semak: uncertain words] [00:07:20–00:07:21] 20k ke 10k [semak: uncertain words, number or amount] [00:07:21–00:07:22] Ni profit [00:07:23–00:07:24] Lepas tu dia nak jual [00:07:24–00:07:25] Dia nak cara orang beli [00:07:25–00:07:26] Untuk beli [00:07:26–00:07:27] Berapa dia nak jual [00:07:27–00:07:28] Dia kata dia nak jual 1 juta [semak: number or amount] [00:07:31–00:07:32] Apa justifikasi dia [00:07:32–00:07:33] Dia kata [00:07:33–00:07:35] Saya 1,000 tu kan [semak: uncertain words, number or amount] [00:07:35–00:07:35] Darat 12 [semak: number or amount] [00:07:36–00:07:37] Dah 1.2 juta [semak: number or amount] [00:07:37–00:07:38] Saya nak jual company ni [semak: uncertain words] [00:07:38–00:07:39] Dengan harga 1 juta [semak: uncertain words, number or amount] [00:07:39–00:07:40] Padahal [00:07:40–00:07:42] Kalau kita ambil profit [00:07:42–00:07:43] Sebab ini yang lebih buy better [semak: uncertain words] [00:07:43–00:07:44] Profit [00:07:44–00:07:45] Profit ni [00:07:46–00:07:47] Katakanlah profit dia 20k [semak: number or amount] [00:07:48–00:07:49] 20k darat dengan 12 bulan [semak: uncertain words, number or amount] [00:07:49–00:07:51] Baru 240k [semak: number or amount] [00:07:51–00:07:54] Berapa PE multiplier dia? [00:07:54–00:07:55] Katalah 5 [semak: number or amount] [00:07:56–00:07:57] 5x [semak: number or amount] [00:07:57–00:07:59] 5x barulah dapat 1 juta [semak: number or amount] [00:07:59–00:08:00] Berapa darap? [semak: uncertain words] [00:08:01–00:08:02] Dia katakanlah 240k [semak: number or amount] [00:08:02–00:08:05] Darap dengan 2x sahaja [semak: number or amount] [00:08:05–00:08:08] So, dapatlah baru 540k [semak: uncertain words, number or amount] [00:08:08–00:08:08] 280k [semak: uncertain words, number or amount] [00:08:08–00:08:13] So, point dia guys [00:08:13–00:08:15] PE multiplier [00:08:15–00:08:17] Ratio ni, dia sangatlah [semak: uncertain words] [00:08:17–00:08:19] Berbeza-beza mengikut industri [00:08:19–00:08:20] Dan benda ni [00:08:20–00:08:22] Bukan benda yang senang lah [00:08:22–00:08:23] Kita nak kata [00:08:23–00:08:23] Oh [00:08:23–00:08:25] Saya value banyak ni tuan [00:08:25–00:08:25] Banyak ni [00:08:25–00:08:27] Tapi kalau RM10,000 pula [semak: number or amount] [00:08:27–00:08:29] Katalah kita audit nanti company dia [00:08:29–00:08:30] Kita tengok [00:08:30–00:08:31] Eh lah sebenarnya RM10,000 je [semak: number or amount] [00:08:31–00:08:32] Net profit lepas tolak semua stuff [semak: uncertain words] [00:08:32–00:08:34] So kalau RM10,000 darat dengan RM12 [semak: number or amount] [00:08:34–00:08:36] Baru RM120,000 [semak: uncertain words, number or amount] [00:08:36–00:08:38] RM120,000 darat dengan PE5 berapa? [semak: number or amount] [00:08:42–00:08:43] RM2,000,000 [semak: uncertain words, number or amount] [00:08:45–00:08:46] Darat dengan RM5,000 [semak: number or amount] [00:08:46–00:08:47] Yang ni baru RM600,000 [semak: number or amount] [00:08:47–00:08:48] Point dia bila dia letak [semak: uncertain words] [00:08:48–00:08:50] Dia letak harga [00:08:50–00:08:52] Eh RM2,000,000 ke RM1,000,000 ke [semak: uncertain words, number or amount] [00:08:52–00:08:52] Ingat ada [semak: uncertain words] [00:08:52–00:08:54] ada seorang tu nak jual company dia [semak: uncertain words] [00:08:54–00:08:56] tapi lebih kurang lah [semak: uncertain words] [00:08:56–00:08:57] dia kira [00:08:57–00:08:58] dia kena ada numbers yang tepat [00:08:58–00:09:00] jadi bila kita main bagi-bagi je [semak: uncertain words] [00:09:00–00:09:01] saya nak jual 1 juta [semak: uncertain words, number or amount] [00:09:01–00:09:02] saya nak jual 2 juta [semak: number or amount] [00:09:02–00:09:02] kan [00:09:02–00:09:03] macam main ni [00:09:03–00:09:05] so bila guna PE multiplier [semak: uncertain words] [00:09:05–00:09:07] awak boleh cari industry awak sendiri [00:09:07–00:09:07] contohnya [00:09:07–00:09:09] awak buka kedai dobi [00:09:09–00:09:10] ok kita pun [semak: uncertain words] [00:09:10–00:09:11] type lah dekat sini [00:09:12–00:09:12] laundry [00:09:15–00:09:15] laundry [00:09:16–00:09:17] service [00:09:17–00:09:18] laundry shop PE ratio [00:09:18–00:09:19] tengok je [00:09:19–00:09:20] average industry [00:09:20–00:09:21] so dia kata [00:09:23–00:09:24] industri sektor [semak: uncertain words] [00:09:25–00:09:26] 24 [semak: uncertain words, number or amount] [00:09:26–00:09:27] ni kena study betul-betul [00:09:27–00:09:30] ok bro, kita kena cari company-company [semak: uncertain words] [00:09:30–00:09:31] yang seakatan dengannya [00:09:31–00:09:34] contoh macam ni dia kata, mungkin [00:09:34–00:09:36] 20, mungkin, ni kena study [semak: number or amount] [00:09:36–00:09:38] betul-betul, jadi sebab apa [semak: uncertain words] [00:09:38–00:09:40] laundry ni dia bagus, dia repeatable [semak: uncertain words] [00:09:40–00:09:42] contohnya, restaurant, awak nak jom [semak: uncertain words] [00:09:42–00:09:44] restaurant, restaurant [semak: uncertain words] [00:09:44–00:09:48] PE ratio, berapa [00:09:48–00:09:49] industri restaurant [semak: uncertain words] [00:09:50–00:09:50] Restoran [00:09:52–00:09:53] Restoran brand [semak: uncertain words] [00:09:53–00:09:54] 18 [semak: uncertain words, number or amount] [00:09:54–00:09:55] Tinggi [00:09:55–00:09:56] Maksudnya orang suka [semak: uncertain words] [00:09:56–00:09:57] Restoran ni [00:09:57–00:09:58] Orang repeat purchase [00:09:58–00:10:00] Ada pula industri yang tak ok [00:10:01–00:10:02] Contohnya kita ambil tourism [00:10:05–00:10:07] Tourism maksudnya tak ok [00:10:07–00:10:08] Eh tinggi sangat [00:10:08–00:10:10] 20 eh [semak: number or amount] [00:10:10–00:10:10] 30 [semak: number or amount] [00:10:11–00:10:12] Tapi begin lah guys [00:10:12–00:10:14] Benda ni dia ambil genting [00:10:14–00:10:15] Dia ambil genting ni tourism [00:10:15–00:10:17] Padahal genting ni dah jadi property dah [00:10:18–00:10:19] Genting ni [00:10:19–00:10:21] Dia dah jadi company-company dah besar dah ni [00:10:21–00:10:21] Ini dah bukan [semak: uncertain words] [00:10:22–00:10:23] Tourism [semak: uncertain words] [00:10:23–00:10:24] Macam kita buat company travel agency [semak: uncertain words] [00:10:24–00:10:25] Ini dah sampai level [00:10:26–00:10:27] Leisure [00:10:27–00:10:28] Property development [00:10:28–00:10:28] Dia macam-macam [00:10:28–00:10:29] That's why [00:10:29–00:10:30] Susah juga untuk kita tengok [00:10:30–00:10:31] Stagadar kat sini sahaja [semak: uncertain words] [00:10:31–00:10:33] Kita kena tengok [00:10:33–00:10:34] Company yang lebih kurang [00:10:34–00:10:34] Sambung macam kita [00:10:34–00:10:35] Berapa [00:10:35–00:10:36] Dia [semak: uncertain words] [00:10:37–00:10:37] Valuation [00:10:37–00:10:38] Okay [00:10:38–00:10:39] So jom kita sambung [semak: uncertain words] [00:10:39–00:10:39] Again guys [00:10:39–00:10:41] Saya bukanlah orang finance sangat [00:10:41–00:10:41] Ni saya ajar [00:10:41–00:10:43] Ilmu kampung yang saya tahu je lah [00:10:43–00:10:44] Okay next [00:10:44–00:10:45] Kita ada pula [00:10:45–00:10:46] Dipanggil sebagai [00:10:47–00:10:48] Revenue valuation [00:10:48–00:10:49] Ini baru daripada sale [00:10:50–00:10:50] Revenue [00:10:50–00:10:51] PV, RV [00:10:53–00:10:54] Revenue, Valuation [00:10:54–00:10:56] Benda-benda Valuation [semak: uncertain words] [00:10:56–00:10:58] Jadi, kita darab pula daripada [00:10:58–00:11:00] Sale, ni beza [semak: uncertain words] [00:11:00–00:11:02] Yang tadi kita darab daripada [00:11:03–00:11:04] Profit, yang ni darab [00:11:04–00:11:06] Daripada Revenue, katalah [00:11:06–00:11:09] Untung kita tengok kat situ, Standard Revenue [semak: uncertain words] [00:11:09–00:11:10] Tak luar-bawah ni, boleh tengok [semak: uncertain words] [00:11:10–00:11:13] Taxas, 5 kali ganda [semak: uncertain words, number or amount] [00:11:13–00:11:14] Revenue, dia darab lagi [00:11:14–00:11:16] Sikit, contohnya [semak: uncertain words] [00:11:16–00:11:18] Macam tax tadi tu, kalau profit darab [00:11:18–00:11:20] 15, 20, Revenue darab [semak: number or amount] [00:11:20–00:11:22] 5 je. Maksudnya apa? Katakanlah [semak: number or amount] [00:11:22–00:11:24] sale dia RM [00:11:24–00:11:27] 100k. Berapa kita nak value [semak: uncertain words, number or amount] [00:11:27–00:11:27] darat 5? [semak: number or amount] [00:11:28–00:11:30] Dapatkan 500k. Itu example. [semak: uncertain words, number or amount] [00:11:30–00:11:32] Tetapi, badan ni subjek juga. Kalau [semak: uncertain words] [00:11:32–00:11:34] katalah dia dah audit, tengoklah [00:11:34–00:11:36] profit tak ada. Pun tak ok juga. [00:11:36–00:11:38] Consumer goods, nampak? Ni lagi drop lah. [00:11:38–00:11:40] Compare dengan yang ni. Yang ni consumer [00:11:40–00:11:42] goods ni 10 kali ganda, [semak: number or amount] [00:11:42–00:11:44] 15 kali ganda. Yang ni premium consumer [semak: number or amount] [00:11:44–00:11:46] goods 2 ke 4 kali ganda, industri. Dia lagi drop [semak: uncertain words, number or amount] [00:11:46–00:11:48] sebab jarang lah orang nak guna ni. [semak: uncertain words] [00:11:49–00:11:51] Revenue punya base ni [semak: uncertain words] [00:11:51–00:11:52] Dan last kali DCF [semak: uncertain words] [00:11:52–00:11:54] Okay by the way guys [00:11:54–00:11:55] Ini basic je tau [00:11:55–00:11:56] Dia ada banyak lagi cara [00:11:56–00:11:58] Dan even DCF ni pun [semak: uncertain words] [00:11:58–00:11:59] Still lagi basic [semak: uncertain words] [00:11:59–00:12:00] Dia ada banyak-banyak lagi cara [semak: uncertain words] [00:12:00–00:12:01] That's why [00:12:01–00:12:02] Saya tak boleh nak ajar semua [00:12:02–00:12:03] Saya just share [00:12:03–00:12:04] At least awak ada [semak: uncertain words] [00:12:05–00:12:06] Sedikit ilmu lah [00:12:06–00:12:07] Untuk bila kita nak borak-borak [00:12:07–00:12:08] Nak pasal nak jual company [00:12:08–00:12:09] DCF [00:12:09–00:12:09] DCF ni adalah [00:12:09–00:12:10] Discounted Cashflow [semak: uncertain words] [00:12:10–00:12:11] Maksudnya [00:12:11–00:12:12] Berapa duit yang akan ada ke depan [00:12:12–00:12:13] Dia discountkan balik [00:12:14–00:12:15] Ni formula dia [00:12:15–00:12:16] Sebab tu saya tunjuk je formula ni [00:12:16–00:12:17] Maksudnya nak kata pening [00:12:18–00:12:20] free cash flow pada bulan depan [semak: uncertain words] [00:12:20–00:12:22] tambah dengan R [00:12:22–00:12:24] darab dengan terminal value tambah R [semak: uncertain words] [00:12:24–00:12:25] ni berapa [00:12:26–00:12:29] free cash flow yang ada ke depan [00:12:29–00:12:30] darab dengan berapa tahun ke depan [00:12:30–00:12:31] kita kira 10 tahun [semak: number or amount] [00:12:31–00:12:34] so dia akan didiskaunkan balik [00:12:34–00:12:34] katalah dia kira ok [semak: uncertain words] [00:12:34–00:12:36] duit yang akan ada free flow ke depan [00:12:36–00:12:37] dalam sekitar 10 juta [semak: number or amount] [00:12:37–00:12:38] lepas tu dia cuba diskaunkan lagi [00:12:38–00:12:40] ok kita ambil diskaunt 30% [semak: number or amount] [00:12:40–00:12:42] dapatlah 7 juta valuation contohnya [semak: number or amount] [00:12:42–00:12:44] so benda ni memang ada [00:12:44–00:12:45] valuer [00:12:45–00:12:46] orang yang memang buat [00:12:46–00:12:47] company audit [00:12:47–00:12:47] Ataupun [00:12:49–00:12:50] Company valuation [semak: uncertain words] [00:12:50–00:12:51] Dia memang kerja dia buat bendalah ni [semak: uncertain words] [00:12:51–00:12:53] So kita akan hire dia [semak: uncertain words] [00:12:53–00:12:54] Untuk buat proper valuation [00:12:54–00:12:56] Dan harga company ni guys [00:12:56–00:12:56] Dia adalah [00:12:56–00:12:58] Win-win situation dia [00:12:58–00:12:59] Dia win-win [00:12:59–00:13:00] Setuju sama setuju [00:13:00–00:13:01] Awak kena faham [00:13:02–00:13:03] Katakanlah saya jual pen ni [00:13:03–00:13:04] Dengan harga RM10 [semak: number or amount] [00:13:04–00:13:05] Awak setuju [00:13:05–00:13:06] RM10 lah harga dia [semak: uncertain words, number or amount] [00:13:06–00:13:07] Saya jual harga RM1000 [semak: number or amount] [00:13:07–00:13:08] Saya kata pen ni [00:13:08–00:13:09] Design oleh Tunku Abdul Rahman [semak: uncertain words] [00:13:09–00:13:11] Sewaktu kemerdekaan Malaysia [00:13:11–00:13:12] Iconic pen ni [00:13:12–00:13:13] Nampak ada sign lagi [semak: uncertain words] [00:13:13–00:13:14] Ada date lagi [00:13:15–00:13:15] RM1957 [semak: uncertain words, number or amount] [00:13:16–00:13:18] Harga dia RM37,000 [semak: number or amount] [00:13:18–00:13:18] Saya nak jual [semak: uncertain words] [00:13:18–00:13:20] Harga dia RM150,000 [semak: number or amount] [00:13:20–00:13:21] Eh awak beli [00:13:21–00:13:24] So nilai dia RM150,000 lah contoh ni [semak: uncertain words, number or amount] [00:13:24–00:13:25] Sebab sama macam apa ni [semak: uncertain words] [00:13:25–00:13:27] Yang penting dua-dua pihak setuju [00:13:27–00:13:29] Seller dengan buyer kena setuju [semak: uncertain words] [00:13:29–00:13:30] Itu je akad dia [00:13:31–00:13:33] Kalau buyer kata setuju [00:13:33–00:13:35] Dia belilah dengan harga RM10,000,000 yang kita jual dari tu [semak: uncertain words, number or amount] [00:13:35–00:13:37] Tapi kalau buyer pula dia audit kata [semak: uncertain words] [00:13:37–00:13:38] Eh aku tak nak beli lah [00:13:38–00:13:39] Malah aku beli [00:13:39–00:13:41] Siapa yang pegang kuasa sebenarnya [00:13:42–00:13:43] Yang pegang kuasa buyer [00:13:45–00:13:47] So, cara dia untuk awak buat [semak: uncertain words] [00:13:47–00:13:48] Awak pegang kuasa [semak: uncertain words] [00:13:48–00:13:48] Pastikan [00:13:48–00:13:50] Awak dapat [semak: uncertain words] [00:13:50–00:13:51] 5 offer [semak: number or amount] [00:13:53–00:13:54] Paling sikit 3 lah [semak: uncertain words, number or amount] [00:13:55–00:13:56] So, awak pegang kuasa pula [00:13:56–00:13:58] Tapi kalau tak nak beli [00:13:58–00:13:59] Saya ada lagi 2-3 ke tempat nak beli [semak: number or amount] [00:13:59–00:14:00] Nak jual ni [00:14:01–00:14:02] So, dia ada 4 more dekat buyer ni [semak: number or amount] [00:14:02–00:14:04] So, disebabkan buyer ni 4 more [semak: number or amount] [00:14:04–00:14:04] Dia beli contoh ni [semak: uncertain words] [00:14:04–00:14:06] Fear of missing out [00:14:06–00:14:07] 4 more [semak: number or amount] [00:14:07–00:14:09] So, itu adalah DCF eh [00:14:09–00:14:10] Malayak telah lah formula dia [semak: uncertain words] [00:14:10–00:14:11] Ok [semak: uncertain words] [00:14:11–00:14:11] Dan [00:14:11–00:14:13] 5 cara nak exit ni guys [semak: number or amount] [00:14:13–00:14:13] Sebenarnya [00:14:13–00:14:15] kita ada banyak cara [semak: uncertain words] [00:14:15–00:14:16] lima-lima cara ni [semak: uncertain words] [00:14:16–00:14:16] ok [semak: uncertain words] [00:14:16–00:14:18] kita go through kat sini lah [00:14:18–00:14:19] cara pertama adalah [00:14:19–00:14:20] trade sale [00:14:20–00:14:21] trade sale ni maksudnya [00:14:21–00:14:23] company buat full acquisition [00:14:23–00:14:24] kita jual company [00:14:24–00:14:25] 100% kepada [semak: number or amount] [00:14:25–00:14:26] pembeli lain [00:14:26–00:14:27] contohnya [00:14:27–00:14:28] ada company [00:14:28–00:14:29] dia company [00:14:29–00:14:31] car wash [00:14:31–00:14:32] dia nak beli [00:14:32–00:14:32] satu company ni [00:14:32–00:14:34] dia buat sabun [00:14:34–00:14:35] so dia acquire [00:14:35–00:14:36] company buat sabun tu [00:14:36–00:14:36] sebab [00:14:36–00:14:38] dia tak nak buat sabun sendiri [00:14:38–00:14:39] so dia nak guna [00:14:39–00:14:40] sabun daripada company [00:14:40–00:14:41] yang dia baru beli tu [00:14:41–00:14:42] contoh macam [00:14:42–00:14:43] Facebook beli [semak: uncertain words] [00:14:43–00:14:43] WhatsApp [00:14:44–00:14:46] Facebook beli Snapchat contohnya [00:14:46–00:14:48] Elon Musk dia beli Tesla [semak: uncertain words] [00:14:48–00:14:49] Dia full acquisition juga [semak: uncertain words] [00:14:49–00:14:50] Tapi tak ada kaitan lah kan [semak: uncertain words] [00:14:50–00:14:52] Tesla dengan Twitter [00:14:52–00:14:53] Apa kaitan lah [semak: uncertain words] [00:14:53–00:14:54] Mungkin oh kaitan dia adalah [00:14:54–00:14:56] Elon Musk senang nak post kat Twitter lepas ni [00:14:56–00:14:58] Tak kena ban sebab dia punya platform sendiri [00:14:58–00:14:59] Mungkin ada value X tu [semak: uncertain words] [00:14:59–00:15:01] So trade sale ataupun full acquisition ni [00:15:01–00:15:02] Kita jual 100% [semak: number or amount] [00:15:02–00:15:03] Ataupun partial exit [00:15:04–00:15:05] Jual separuh [00:15:05–00:15:06] Jual sikit lah [00:15:06–00:15:09] Tapi kita masih kekal sebagai pemilik minority [semak: uncertain words] [00:15:14–00:15:15] Minority ya bukan majority dah [semak: uncertain words] [00:15:15–00:15:16] So kita dah exit [00:15:16–00:15:18] kita bagi kepada penjual baru [semak: uncertain words] [00:15:18–00:15:20] tapi penjual yang baru tu dia buat syarat [00:15:20–00:15:21] dia nak kita ada [00:15:21–00:15:22] at least kita boleh tolong monitor [00:15:23–00:15:24] tolong guide dia [00:15:24–00:15:25] ataupun tolong [00:15:25–00:15:27] tolong grow sama-sama lah [semak: uncertain words] [00:15:27–00:15:28] dalam kadang kita terima dividend [00:15:28–00:15:30] and then management buyout [00:15:30–00:15:31] ini jual kepada staff sediada [00:15:31–00:15:33] jual kepada partner sediada [00:15:33–00:15:33] MBO [00:15:33–00:15:35] maksudnya tim pengurusan sediada [00:15:35–00:15:36] yang beli saham [00:15:36–00:15:37] daripada kita jual pada orang luar [00:15:37–00:15:38] partial exit [00:15:38–00:15:39] tak tahu apa cerita [00:15:39–00:15:40] sekarang dia pergi merosak company [semak: uncertain words] [00:15:40–00:15:41] jual pada orang dalam [00:15:42–00:15:43] ataupun IPO [00:15:43–00:15:44] yang ni maksud bursa saham [semak: uncertain words] [00:15:44–00:15:45] bursa saham ni pula [semak: uncertain words] [00:15:45–00:15:46] ada dua papan [semak: uncertain words] [00:15:47–00:15:48] papan main bot [semak: uncertain words] [00:15:48–00:15:49] dengan ace bot [00:15:50–00:15:51] saya pun baru belajar [semak: uncertain words] [00:15:51–00:15:51] dengan sini kat [semak: uncertain words] [00:15:51–00:15:52] saya tengah belajar [semak: uncertain words] [00:15:52–00:15:53] dengan partner saya [00:15:53–00:15:54] dia memang ada pengalaman [00:15:54–00:15:54] kat sini [00:15:54–00:15:55] jadi saya tengah [00:15:55–00:15:56] belajar dengan dia lah [00:15:56–00:15:57] main bot [00:15:58–00:15:59] bot yang utama [00:15:59–00:15:59] dengan ace bot [00:15:59–00:16:00] ok [00:16:00–00:16:01] apa beza dia [00:16:01–00:16:02] main bot ni [00:16:02–00:16:03] company-company yang top lah [00:16:03–00:16:04] yang bila dia IPO tu [00:16:04–00:16:04] memang [00:16:04–00:16:06] valuation dia tinggi [00:16:06–00:16:06] yang ni yang [00:16:06–00:16:08] yang kira macam SME [semak: uncertain words] [00:16:08–00:16:09] company-company kecil-kecil [00:16:09–00:16:10] yang bila dia public listed [00:16:10–00:16:11] dia pergi dekat ace bot [00:16:12–00:16:13] papan utama [00:16:13–00:16:14] dengan papan nombor 2 lah [semak: uncertain words, number or amount] [00:16:15–00:16:15] dan macam mana [00:16:15–00:16:17] nak IPO ni guys, saya share simple formula [00:16:17–00:16:19] syarat nak IPO ni sebenarnya [00:16:19–00:16:21] 3 tahun [semak: number or amount] [00:16:21–00:16:23] equal [00:16:23–00:16:26] 20 juta profit [semak: number or amount] [00:16:26–00:16:27] net profit [00:16:29–00:16:30] PAT [semak: uncertain words] [00:16:30–00:16:32] P [00:16:32–00:16:35] bukan PBT, PAT [semak: uncertain words] [00:16:35–00:16:36] PAT [00:16:36–00:16:39] equal profit [00:16:39–00:16:41] after [00:16:41–00:16:42] masuk N [semak: uncertain words] [00:16:42–00:16:47] 20 juta [semak: uncertain words, number or amount] [00:16:47–00:16:49] T kata lain, katalah awak ada satu graf [semak: uncertain words] [00:16:49–00:16:50] Graf awak mungkin [semak: uncertain words] [00:16:50–00:16:53] Dia nak 3 tahun berturut-turut [semak: number or amount] [00:16:53–00:16:55] Katalah ni tahun 2025 [semak: number or amount] [00:16:55–00:16:57] Tahun ni, 2026 [semak: number or amount] [00:16:58–00:16:59] 2027 [semak: number or amount] [00:17:00–00:17:01] Katalah sini 3 juta [semak: number or amount] [00:17:01–00:17:04] 5 juta, 7 juta [semak: number or amount] [00:17:05–00:17:05] Boom [00:17:05–00:17:06] Awak dapat sini [semak: uncertain words] [00:17:07–00:17:08] 3 juta [semak: number or amount] [00:17:12–00:17:14] Tahun seterusnya, 2026 [semak: number or amount] [00:17:15–00:17:16] Boom, kat sini [semak: uncertain words] [00:17:17–00:17:19] So, investor dah boleh [00:17:19–00:17:20] buat satu prediction [00:17:20–00:17:22] kalau ikut daripada target ni [semak: uncertain words] [00:17:23–00:17:24] katalah tahun sebelumnya [00:17:24–00:17:25] kat sini lah [00:17:26–00:17:27] kan [00:17:27–00:17:29] kalau dia ikut kat sini [semak: uncertain words] [00:17:29–00:17:30] dia pergi ke sini [semak: uncertain words] [00:17:31–00:17:32] dan investor boleh buat [00:17:32–00:17:33] satu projection [00:17:33–00:17:34] mungkin tuan depan [00:17:34–00:17:35] dia akan pergi ke [00:17:35–00:17:35] sini [00:17:37–00:17:37] so [00:17:37–00:17:39] paling cepat awak nak IPO [00:17:39–00:17:40] kalau awak ada boleh buat [semak: uncertain words] [00:17:40–00:17:41] dalam masa 2 tahun [semak: number or amount] [00:17:41–00:17:42] at least ada 2 graph [semak: number or amount] [00:17:43–00:17:45] yang boleh justify [00:17:45–00:17:45] macam [00:17:45–00:17:45] uish [semak: uncertain words] [00:17:45–00:17:46] macam trend naik lah ni [00:17:47–00:17:48] buyer dah boleh nak beli lah ni [semak: uncertain words] [00:17:48–00:17:49] So sebab apa [semak: uncertain words] [00:17:49–00:17:51] 3 juta [semak: uncertain words, number or amount] [00:17:51–00:17:52] Campur [00:17:52–00:17:53] 5 juta [semak: number or amount] [00:17:53–00:17:54] Campur 7 juta [semak: number or amount] [00:17:54–00:17:55] Berapa dapat [00:17:58–00:17:59] 5 [semak: number or amount] [00:17:59–00:17:59] 7 [semak: uncertain words, number or amount] [00:17:59–00:18:00] 15 juta [semak: number or amount] [00:18:02–00:18:03] So nampak [00:18:03–00:18:04] Lebih kurang 20 juta [semak: number or amount] [00:18:04–00:18:05] 20 juta ni sweet spot dia [semak: number or amount] [00:18:05–00:18:07] Tapi ada je company yang [00:18:07–00:18:07] Serendah macam ni pun [00:18:07–00:18:08] Dia dah boleh IPO dah [semak: uncertain words] [00:18:08–00:18:10] Katalah company berbeza pulak [00:18:10–00:18:10] Tiba-tiba [00:18:10–00:18:11] Dia [00:18:12–00:18:13] Kita buat graph lain lah [semak: uncertain words] [00:18:13–00:18:15] Dia stable [00:18:16–00:18:17] Stable orang tak nak invest [00:18:17–00:18:18] Boom naik [00:18:18–00:18:19] Boom naik [00:18:19–00:18:21] So orang nak invest [00:18:21–00:18:21] Pada kenaikan [semak: uncertain words] [00:18:21–00:18:23] Dan pada [00:18:23–00:18:24] Momen dia kenaikan tu [semak: uncertain words] [00:18:24–00:18:25] Dekat part ni [00:18:26–00:18:27] Selama 3 tahun [semak: number or amount] [00:18:27–00:18:27] Macam tu [00:18:27–00:18:28] Dia nak tengok trend tu [00:18:28–00:18:29] Dia dah macam boleh [00:18:29–00:18:30] Ke arah 20 [semak: number or amount] [00:18:30–00:18:31] 20 juta [semak: uncertain words, number or amount] [00:18:31–00:18:31] 20 juta [semak: number or amount] [00:18:32–00:18:33] So itu je sebenarnya [00:18:33–00:18:35] Dan awak kena ada reason lah [00:18:35–00:18:36] Kenapa awak nak IPO [00:18:36–00:18:37] Oh rupanya [00:18:37–00:18:38] Saya berjaya IPO ni [00:18:38–00:18:39] Ataupun sorry [00:18:39–00:18:40] Kenapa awak boleh naikkan sale [00:18:40–00:18:42] Sebab ok rupanya awak dah [semak: uncertain words] [00:18:42–00:18:43] Ada merge satu company [00:18:43–00:18:44] Awak gunakan AI [00:18:44–00:18:45] Rupanya [00:18:45–00:18:46] Dia kena ada satu story lah [00:18:46–00:18:47] Yang investor buy [00:18:47–00:18:48] Oh betul lah [00:18:48–00:18:50] So orang buy based on apa [00:18:50–00:18:51] Investor [00:18:52–00:18:52] Dia beli [semak: uncertain words] [00:18:54–00:18:55] Investor [00:18:55–00:18:55] Dia beli apa [00:18:57–00:18:58] Beli [semak: uncertain words] [00:18:59–00:18:59] Future [00:19:01–00:19:02] Growth [00:19:03–00:19:04] So, kena faham [semak: uncertain words] [00:19:05–00:19:06] Banyak orang yang nak jual company [00:19:06–00:19:08] Company yang nak mampus [00:19:08–00:19:08] Buat apa saya beli [00:19:08–00:19:09] Kenapa nak beli company [00:19:09–00:19:10] Nak mati [semak: uncertain words] [00:19:10–00:19:12] Kita beli company [00:19:12–00:19:13] Yang ada potential [semak: uncertain words] [00:19:13–00:19:15] Untuk future growth [00:19:15–00:19:16] Dan nak tengok trend growth [00:19:16–00:19:17] Itu biasa 2 tahun [semak: uncertain words, number or amount] [00:19:17–00:19:17] Paling cepat [00:19:17–00:19:18] Sebab tu nak IPO pun [semak: uncertain words] [00:19:18–00:19:19] Even IPO lah [00:19:19–00:19:20] Ni IPO [00:19:20–00:19:21] Makan masa [00:19:21–00:19:23] Biasanya orang daripada kosong [00:19:23–00:19:23] Nak IPO ni [semak: uncertain words] [00:19:23–00:19:25] Dia kena design financial roadmap dia [00:19:25–00:19:26] Dalam sekitar [00:19:26–00:19:28] 6 tahun lah biasanya [semak: number or amount] [00:19:28–00:19:29] Untuk IPO [00:19:30–00:19:32] Ni anggap lah daripada kosong [00:19:33–00:19:34] Daripada [00:19:34–00:19:35] Seed round [00:19:35–00:19:36] Co-founders round [00:19:36–00:19:38] Lepas tu founders round [semak: uncertain words] [00:19:38–00:19:39] Sorry founders round [00:19:39–00:19:40] Co-founders round [00:19:40–00:19:41] Dia ada beberapa round lah [00:19:41–00:19:42] Untuk IPO ni [00:19:43–00:19:43] Contohnya [00:19:43–00:19:45] Mula-mula dia ada [semak: uncertain words] [00:19:45–00:19:46] Founders round [00:19:46–00:19:48] Terletak duit kita sendiri [00:19:48–00:19:49] Modal 10,000 [semak: number or amount] [00:19:50–00:19:52] lepas tu kita ada co-founder [00:19:52–00:19:53] co-founder ni pula [semak: uncertain words] [00:19:53–00:19:56] kita buka kepada 10 orang sahaja [semak: number or amount] [00:19:57–00:19:59] mungkin time tu kita dah inject 100k [semak: number or amount] [00:19:59–00:20:00] yang ni mungkin ada 2 orang je masuk [semak: number or amount] [00:20:00–00:20:02] yang ni dah ada 10 orang pula masuk [semak: number or amount] [00:20:02–00:20:04] ni sahabat-sahabat kawan-kawan kita [00:20:04–00:20:05] yang kita nak ajak dia sekali [00:20:05–00:20:06] kita jual share kita [00:20:06–00:20:08] yang ni kita own 100% [semak: number or amount] [00:20:08–00:20:10] kat sini kita jual pula [00:20:10–00:20:12] another 10% [semak: uncertain words, number or amount] [00:20:12–00:20:12] tu hanya [semak: uncertain words] [00:20:12–00:20:13] release [00:20:13–00:20:14] dengan 100k [semak: number or amount] [00:20:14–00:20:16] so value company kat sini [00:20:16–00:20:17] kalau dia beli dengan 100k [semak: number or amount] [00:20:17–00:20:19] 10% adalah 1M lah [semak: number or amount] [00:20:20–00:20:22] padahal kalau ikut daripada sini ke sini [00:20:23–00:20:24] ni, sini ke sini ni [semak: uncertain words] [00:20:24–00:20:25] baru 9 bulan [semak: uncertain words, number or amount] [00:20:26–00:20:27] lebih kurang lah [00:20:27–00:20:29] lepas tu dia akan pergi pulak kepada [00:20:30–00:20:32] mungkin seat round [semak: uncertain words] [00:20:33–00:20:34] seat [00:20:35–00:20:36] mungkin dia akan pergi pulak [00:20:36–00:20:38] kepada, saya dah lupa dah dulu [semak: uncertain words] [00:20:38–00:20:40] seat round ni, angel [00:20:40–00:20:41] angel akan masuk, angel investor [semak: uncertain words] [00:20:42–00:20:43] lepas tu VC akan masuk [00:20:43–00:20:46] lepas VC masuk, PE akan masuk [00:20:46–00:20:48] lepas PE masuk, IB akan masuk [00:20:49–00:20:50] lepas tu kat sini IPO [semak: uncertain words] [00:20:52–00:20:54] sit round ni still lagi duit-duit [semak: uncertain words] [00:20:54–00:20:56] duit-duit kecil lah, mungkin kita tambah lagi [00:20:56–00:20:58] nak ada 100k lagi ke kat sini [semak: uncertain words, number or amount] [00:20:58–00:21:00] let go 5%, angel [semak: uncertain words, number or amount] [00:21:00–00:21:02] angel investor ni adalah orang yang [00:21:02–00:21:04] invest tapi dia orang individu [00:21:05–00:21:06] orang tu sorang-sorang, dia macam [00:21:06–00:21:09] saya ada duit 100 juta, saya invest [semak: number or amount] [00:21:09–00:21:10] duit saya sikit lah, 500k ke [semak: number or amount] [00:21:10–00:21:12] 1 juta, so dia masuk angel kat sini [semak: uncertain words, number or amount] [00:21:13–00:21:14] mungkin dia ambil high risk [00:21:14–00:21:17] dia nak own 10%, so [semak: uncertain words, number or amount] [00:21:17–00:21:18] kita dah let go 25% lah contohnya [semak: uncertain words, number or amount] [00:21:19–00:21:21] Tapi valuation naik lah [00:21:21–00:21:21] Sebab dia beli sikit [00:21:21–00:21:22] Dengan harga yang mahal [00:21:22–00:21:23] Valuation company dah [00:21:23–00:21:24] 5M dah kat sini [semak: number or amount] [00:21:25–00:21:26] VC pula [00:21:26–00:21:27] Venture capitalist [00:21:28–00:21:29] Venture capitalist [00:21:29–00:21:29] VC [00:21:29–00:21:30] VC ni adalah company [semak: uncertain words] [00:21:30–00:21:30] Yang growth [semak: uncertain words] [00:21:30–00:21:32] Yang invest pada early stage [00:21:32–00:21:33] Angel lagi early lah [00:21:33–00:21:34] Angel lagi [00:21:34–00:21:35] Got feeling je [semak: uncertain words] [00:21:35–00:21:36] Dia tengok [00:21:36–00:21:36] Bagus budak ni [00:21:36–00:21:37] Boom invest [00:21:37–00:21:38] Macam tu lah level [00:21:38–00:21:39] VC mungkin invest [00:21:39–00:21:40] Banyak sikit [00:21:40–00:21:40] Mungkin 2M dah [semak: number or amount] [00:21:40–00:21:43] Untuk nilai 5% [semak: number or amount] [00:21:43–00:21:44] Je dia ambil contohnya [semak: uncertain words] [00:21:44–00:21:45] So valuation company [00:21:45–00:21:46] Kat sini dah berapa dah [semak: uncertain words] [00:21:47–00:21:48] Dah jadi [00:21:48–00:21:49] 40 juta [semak: number or amount] [00:21:49–00:21:51] tiba-tiba jadi 40 juta [semak: uncertain words, number or amount] [00:21:51–00:21:52] satu VC masuk [00:21:53–00:21:55] katalah VC masuk 10% [semak: number or amount] [00:21:56–00:21:57] value company kat sini [semak: uncertain words] [00:21:57–00:21:58] dah jadi 20 juta [semak: number or amount] [00:21:59–00:22:00] PE pula masuk [00:22:00–00:22:01] private equity [00:22:01–00:22:02] private equity ni adalah [00:22:02–00:22:04] private equity ni adalah [semak: uncertain words] [00:22:04–00:22:05] company-company yang invest [00:22:05–00:22:06] yang ada data [00:22:06–00:22:08] VC dia invest pada [00:22:08–00:22:08] potential juga [00:22:08–00:22:10] PE ni private equity [00:22:10–00:22:12] dia adalah company [00:22:12–00:22:13] yang beli pada stage [00:22:13–00:22:13] yang lebih matang [00:22:14–00:22:16] so PE beli [00:22:16–00:22:17] private equity ni [00:22:17–00:22:17] lagi besar lah [semak: uncertain words] [00:22:17–00:22:18] dia injak 10 juta [semak: number or amount] [00:22:20–00:22:21] Dengan valuation [00:22:21–00:22:22] 5% [semak: uncertain words, number or amount] [00:22:22–00:22:23] Dia beli 10 juta [semak: uncertain words, number or amount] [00:22:23–00:22:25] So valuation company kat sini [00:22:25–00:22:27] Dah jadi 200 juta [semak: number or amount] [00:22:28–00:22:29] Ambil kau [semak: uncertain words] [00:22:30–00:22:31] Lepas tu IB [semak: uncertain words] [00:22:31–00:22:32] Investment banking [semak: uncertain words] [00:22:32–00:22:33] Medbank start masuk [semak: uncertain words] [00:22:34–00:22:35] Kazanah start masuk [00:22:35–00:22:35] Semua kat sini lah [00:22:35–00:22:37] So Medbank [00:22:37–00:22:37] Inject lagi yang ada [semak: uncertain words] [00:22:37–00:22:38] 30 juta [semak: number or amount] [00:22:39–00:22:40] Dengan valuation [00:22:40–00:22:41] 5% je dia beli [semak: uncertain words, number or amount] [00:22:41–00:22:41] Sikit-sikit je lebih [00:22:41–00:22:43] Ada yang exit dah kat sini [semak: uncertain words] [00:22:44–00:22:45] So kat sini katakanlah [00:22:45–00:22:46] Valuation company [00:22:46–00:22:47] Dah pergi [semak: uncertain words] [00:22:47–00:22:48] 600 juta [semak: number or amount] [00:22:49–00:22:50] Bila dia pergi je IPO [00:22:50–00:22:51] Boom [semak: uncertain words] [00:22:51–00:22:52] IPO 1B [semak: number or amount] [00:22:52–00:22:52] Contohnya [00:22:52–00:22:53] 1.5B [semak: number or amount] [00:22:53–00:22:54] Ini projek besar lah [semak: uncertain words] [00:22:54–00:22:56] Sampai masuk 600 juta ni [semak: uncertain words, number or amount] [00:22:56–00:22:56] Kaw-kawan [semak: uncertain words] [00:22:56–00:22:58] Okay [semak: uncertain words] [00:22:58–00:22:58] Point dia [semak: uncertain words] [00:22:58–00:22:59] Setiap satu jarak [00:22:59–00:23:01] Antara bulan-bulan ni [00:23:01–00:23:01] Sebenarnya dalam [00:23:01–00:23:04] 9 ke 12 bulan sahaja [semak: number or amount] [00:23:04–00:23:04] Sebenarnya [00:23:04–00:23:06] Sebab tu saya kata [00:23:06–00:23:07] 6 tahun jadi tu [semak: uncertain words, number or amount] [00:23:08–00:23:09] 1 tahun [semak: number or amount] [00:23:09–00:23:10] 2 tahun [semak: number or amount] [00:23:10–00:23:11] 3 tahun [semak: number or amount] [00:23:11–00:23:13] 4 tahun [semak: number or amount] [00:23:13–00:23:14] 5 tahun [semak: number or amount] [00:23:14–00:23:15] 6 tahun [semak: number or amount] [00:23:15–00:23:16] Mungkin 7 [semak: number or amount] [00:23:16–00:23:17] Dia macam tu lah [semak: uncertain words] [00:23:17–00:23:18] Ataupun kalau 9 bulan [semak: number or amount] [00:23:18–00:23:19] Lagi cepat [semak: uncertain words] [00:23:19–00:23:19] Lagi cepat [00:23:19–00:23:19] Lagi cepat [00:23:19–00:23:20] Sebab [00:23:20–00:23:21] Setiap orang ni [00:23:21–00:23:22] Dia nak exit [00:23:22–00:23:22] Sebab tu dia masuk duit [00:23:22–00:23:24] Dia masuk 10% [semak: number or amount] [00:23:24–00:23:26] 10% dia ni dah grow [semak: uncertain words, number or amount] [00:23:26–00:23:26] Jadi berapa dah [00:23:26–00:23:28] Oh Alhamdulillah [00:23:28–00:23:29] Double duit aku [00:23:30–00:23:31] Kalau dia hold lagi [00:23:31–00:23:31] Co-founders ni [00:23:31–00:23:32] Dia invest [00:23:32–00:23:33] Wish [semak: uncertain words] [00:23:33–00:23:34] Alhamdulillah [00:23:34–00:23:35] Duit aku dah 5x [semak: number or amount] [00:23:35–00:23:36] Sekali kanda [semak: uncertain words] [00:23:36–00:23:37] Orang yang ni pun happy juga [00:23:37–00:23:38] Sit around ni [00:23:39–00:23:40] Dia invest [00:23:40–00:23:41] Tapi dekat sini [00:23:41–00:23:42] Eh sama pula [semak: uncertain words] [00:23:42–00:23:44] Kat sini [semak: uncertain words] [00:23:44–00:23:46] Dia exit kat sini [00:23:46–00:23:48] Duit dia invest 5% [semak: uncertain words, number or amount] [00:23:48–00:23:50] Tiba-tiba valuation company [semak: uncertain words] [00:23:50–00:23:50] Oh [semak: uncertain words] [00:23:50–00:23:51] Gila [00:23:51–00:23:52] Buat hati aku ni [semak: uncertain words] [00:23:52–00:23:54] Tiba-tiba valuation company 2 juta je [semak: uncertain words, number or amount] [00:23:54–00:23:55] Kat sini [semak: uncertain words] [00:23:55–00:23:56] Value 2M je [semak: number or amount] [00:23:56–00:23:58] Sekali value next 10 kali ganda [semak: uncertain words, number or amount] [00:23:58–00:24:00] Duit dia jadi 10X [semak: number or amount] [00:24:00–00:24:01] Dia jual tak kat sini [semak: uncertain words] [00:24:02–00:24:04] So 100 ribu return balik 1 juta [semak: uncertain words, number or amount] [00:24:04–00:24:05] 5 rat [semak: uncertain words, number or amount] [00:24:05–00:24:06] Haa [semak: uncertain words] [00:24:06–00:24:06] Entah [00:24:06–00:24:07] Faham tak [00:24:07–00:24:08] Jadi that's why [00:24:08–00:24:10] Orang yang paling kaya adalah investor [semak: uncertain words] [00:24:11–00:24:12] Untuk buat [00:24:12–00:24:13] 1 juta [semak: number or amount] [00:24:13–00:24:14] 3 juta [semak: number or amount] [00:24:14–00:24:16] Ambil masa tak sampai setahun [00:24:16–00:24:17] Kalau awak duduk dalam [00:24:17–00:24:19] Kenderaannya betul [semak: uncertain words] [00:24:19–00:24:20] Sebab tu IPO ni guys [00:24:20–00:24:22] Adalah tempat paling seksi [00:24:22–00:24:23] Untuk exit [00:24:23–00:24:24] Tapi paling kejam [00:24:25–00:24:26] Sebab banyak orang [00:24:26–00:24:27] Even hari tu saya jumpa [00:24:27–00:24:28] Dengan [00:24:29–00:24:30] Salah seorang ni lah [00:24:30–00:24:31] Dia dah IPO [00:24:31–00:24:32] Pada tahun 1990-an [semak: number or amount] [00:24:32–00:24:33] Dia kata [00:24:33–00:24:35] Buat apa budak-budak muda ni [00:24:35–00:24:35] Nak IPO ni [00:24:35–00:24:36] Tak ada apa eh [00:24:36–00:24:37] IPO ni [semak: uncertain words] [00:24:37–00:24:38] Buat pening kepala [00:24:38–00:24:40] Dia kata [00:24:40–00:24:41] Dia pucuk oh ye ke datuk [semak: uncertain words] [00:24:41–00:24:44] Yelah kita belajar dengan dia kan [00:24:44–00:24:45] Jadi [00:24:46–00:24:47] next pula adalah [semak: uncertain words] [00:24:47–00:24:48] liquidation [00:24:48–00:24:49] liquidation ni adalah [00:24:49–00:24:50] awak tutup company [00:24:50–00:24:51] pergi lah semua profit [semak: uncertain words] [00:24:51–00:24:53] memang ada beberapa [semak: uncertain words] [00:24:53–00:24:53] company baru ni [00:24:53–00:24:54] saya liquidatkan dia [semak: uncertain words] [00:24:54–00:24:55] saya jual je [00:24:55–00:24:56] tutup semua [00:24:56–00:24:57] kita cut loss [00:24:57–00:24:58] tapi tu dalam bentuk loss [semak: uncertain words] [00:24:58–00:24:59] kalau profit mana [semak: uncertain words] [00:24:59–00:25:00] dia orang tutup [semak: uncertain words] [00:25:00–00:25:01] profit biarlah berjalan [00:25:01–00:25:02] so ini adalah [00:25:02–00:25:03] 5 cara untuk exit [semak: number or amount] [00:25:03–00:25:04] dan saya cadangkan [00:25:04–00:25:05] awak exit [00:25:05–00:25:06] partial exit [00:25:06–00:25:08] ataupun management buyout ke [semak: uncertain words] [00:25:08–00:25:10] awak jual sikit [00:25:10–00:25:11] dekat partner awak [semak: uncertain words] [00:25:11–00:25:13] jual sikit pada kawan awak [00:25:13–00:25:14] so partial exit [00:25:14–00:25:15] Dengan management exit ni [00:25:15–00:25:16] Yang biasa kita buat [semak: uncertain words] [00:25:16–00:25:17] Trade sale ni [00:25:17–00:25:18] Ini betul-betul nak cash out [semak: uncertain words] [00:25:18–00:25:19] Awak buat satu company [semak: uncertain words] [00:25:20–00:25:21] Lepas tu value kan dia [semak: uncertain words] [00:25:21–00:25:22] 5 juta [semak: number or amount] [00:25:22–00:25:23] Boom [00:25:23–00:25:24] Jual dekat siapa? [00:25:24–00:25:26] Jual dekat competitor [00:25:26–00:25:27] Itu syarat dia [00:25:28–00:25:29] Jual pada competitor [00:25:29–00:25:31] Dan adakah competitor plan [00:25:31–00:25:32] Untuk pergi IPO? [00:25:32–00:25:32] Tak ada pun [00:25:32–00:25:33] Dia beli benda tu [00:25:33–00:25:35] Untuk naikkan lagi value dia [00:25:35–00:25:36] Dia beli company awak [00:25:36–00:25:37] Trade sale [00:25:37–00:25:38] Valuation dia pun naik juga [00:25:39–00:25:40] Dan dia dapat extra revenue [00:25:41–00:25:43] So banyak strategi [00:25:43–00:25:44] Saya pun tak perlu belajar lagi [semak: uncertain words] [00:25:44–00:25:44] Jadi [00:25:44–00:25:46] ini adalah yang terakhir sekali exit [00:25:46–00:25:48] strategi. Jadi bincang dengan partner, bro [00:25:48–00:25:50] kita nak buat apa ni? Kita ada plan tak nak [semak: uncertain words] [00:25:50–00:25:52] exit? Kita jual lah sikit share kita [00:25:52–00:25:54] nanti. Sebab company yang boleh [00:25:54–00:25:56] dijual adalah company yang [00:25:56–00:25:59] ada value. Kalau company [00:25:59–00:26:00] awak tak berjaya dijual, dia tak ada [00:26:00–00:26:03] value. Dan untuk menjual company, insyaAllah [00:26:03–00:26:04] ada lagi nanti video-video bonus yang [00:26:04–00:26:07] saya akan cuba wujudkan dan masukkan. Kalau sempat [00:26:07–00:26:08] dekat bawah ni kalau ada. Kalau tak ada [semak: uncertain words] [00:26:08–00:26:10] belum ada lagi lah. Sebab saya ada plan untuk [semak: uncertain words] [00:26:10–00:26:12] tambah lagi beberapa video-video [00:26:12–00:26:14] tambahan at least saya pun tengah [semak: uncertain words] [00:26:14–00:26:16] on the way nak jual beberapa company saya dan [00:26:16–00:26:18] awak pun dapat belajar sesuatu. Mudah-mudahan [00:26:18–00:26:20] kita menjadi usahawan yang celik capital [00:26:20–00:26:21] bukan sahaja bermain [semak: uncertain words] [00:26:21–00:26:24] market mechanism tapi bermain [00:26:24–00:26:26] capital mechanism. Maksudnya market mechanism [00:26:26–00:26:28] ni jual pada customer. Capital mechanism [00:26:28–00:26:30] jual pada investor. Market [00:26:30–00:26:32] customer, capital investor. Ada [00:26:32–00:26:34] dua customer sebenarnya. Jual pada customer [00:26:34–00:26:36] pun ok juga tapi lagi profit jual pada [00:26:36–00:26:38] investor sebab investor [00:26:38–00:26:40] membeli kenderaan syarikat yang [00:26:40–00:26:41] Akan buat duit untuk dia [00:26:41–00:26:42] Dan kadang-kadang [00:26:42–00:26:43] Dia tak nak duit pun [semak: uncertain words] [00:26:43–00:26:44] Dia just nak hype tu je [00:26:44–00:26:45] Sebab dia nak exit [00:26:45–00:26:46] Pada round yang seterusnya [00:26:46–00:26:47] So ini adalah [00:26:47–00:26:48] First round [00:26:48–00:26:49] First round biasanya [00:26:49–00:26:50] Dia start dekat seat [00:26:51–00:26:52] Ini first round [00:26:52–00:26:53] Ini second round [00:26:53–00:26:54] Series A [00:26:54–00:26:55] Series B [00:26:55–00:26:55] Series C [00:26:55–00:26:56] Terus benda-benda macam tu lah [semak: uncertain words] [00:26:56–00:26:58] Okay jumpa dalam video [00:26:58–00:26:58] Yang seterusnya [00:26:59–00:26:59] Zas [semak: uncertain words]