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Important Notification

It has come to our notice that some unscrupulous persons are passing themselves off as representing or being affiliated with ICAP Fan Club. These fraudsters/impersonators have been appropriating parts of our brand identity, and photographs of members of our leadership with the intent to defraud unsuspecting members of the public. These scams were conducted without the knowledge, consent and authority of ICAP Fan Club.

Please take note that anyone who engages with the abovementioned fraudsters/impersonators through any website or other platform or material promoted by the fraudsters/impersonators does so at their own risk.

Our official website has been and remains www.icapfanclub.com.

Kindly contact us if you have any doubts or uncertainties over any communications made to you by anyone claiming to be associated with ICAP Fan Club. The official contact details of ICAP Fan Club may be found on our website.

The FIRST corporate fan club in Asia Pacific

Activity 1

Inaugural ICAP Fan Club Meeting


Date: 13 July 2024 (Saturday)

Time: 9:30 AM - 1:30 PM

Venue: Nucre Patisseries, 121-123, Jalan Petaling, Kuala Lumpur




Our inaugural ICAP Fan Club Meeting was held on July 13, 2024, at Nucre Patisseries, Kuala Lumpur. It was truly a remarkable day filled with camaraderie, learning, and meaningful connections.




The morning commenced with a warm welcome from our President, Mr Loh Hang Pai, who set the tone for the day’s proceedings.




We were honoured to have Dato' Seri Mohd Ajib, the Chairman of icapital.biz Berhad, share his thoughts on the significance of our fan club in promoting long-term and value investing across Malaysia. His insights underscored the importance of our mission to educate and empower individual investors.




Mr Tan Teng Boo, the driving force behind ICAP Fan Club, passionately articulated his vision for the club. His words resonated deeply as he emphasised the club’s role in fostering positive values within Malaysian society and steering individuals away from investment scams through education.




After the introduction of committee members, as the Secretary of ICAP Fan Club, I had the privilege of outlining our club’s structure and plans, as summarised below:
  • Most of the club’s founding members are middle-aged and above,residing in Klang Valley.
  • The club adopts a freemium fee structure. A one-time entrance fee of RM100 and annual member fee of RM50. The club will plan for a combination of activities and events that are free or at minimal cost as well as paid events. The objective is to support engagement activities and subsidise the events for students and youngsters.
  • Upcoming events – research visit to APM and China Talk organised by Capital Dynamics. I encouraged members to volunteer and share their ideas on activities we can organise.

Ms Teo Hui Xin also briefly updated the members on the club’s income and expenditure. It was heartening to see the enthusiasm among our founding members all united in their commitment to icapital.biz Berhad and long-term value investing.



One of the highlights of the day was our engagement activity session, facilitated by yours truly. We kicked off with introductions where each member shared their background, interests, and reasons for joining the club, creating an immediate sense of belonging.

This was followed by a fun icebreaker where members identified others with the same birth month, forming twelve spirited teams which were then combined into 4 groups based on a year’s quarter.




The camaraderie continued to flourish as these groups competed in a lively game of adjectives, showcasing their collaborative spirit and strategic thinking. Laughter and friendly banter filled the room as members discussed and bonded over the game.




Of course, no memorable event is complete without capturing the moment. We immortalised our founding members with group photos that encapsulated the spirit of unity that defines ICAP Fan Club.




The day concluded with members enjoying lunch together, exchanging ideas and contacts, and forging new friendships.It was clear that the inaugural meeting had succeeded not only in educating and engaging but also in fostering a supportive community of like-minded individuals dedicated to ICAP and value investing.

Looking ahead, ICAP Fan Club promises more exciting events, workshops, and networking opportunities designed to enrich your journey in the world of investment. We invite each of you to stay connected, participate actively, and contribute to our growing community.

Thank you again to everyone who contributed to our inaugural meeting's success. Your enthusiasm and passion are the foundation upon which we will build a thriving community of informed investors. “If you want to go fast, go alone. If you want to go far, go together.” I strongly believe that with the support of each other, we can go very far.



Chong Yew Kong
Secretary of ICAP Fan Club







Activity 2

Discovering Hidden Values at APM Automotive –

A Guided Research Trip with Teng Boo

Date: 16 July 2024 (Tuesday)

Time: 11:30AM – 3:30PM

Location: APM facilities at Pandamaran Industrial Estate, Port Klang.





As individual investors, one of the greatest challenges we face is understanding the companies we invest in beyond what financial statements can reveal. Meeting and talking to the management, seeing operations firsthand and grasping a company’s culture are typically luxuries reserved for institutional investors.

However, thanks to ICAP Fan Club, individual investors like you and me are breaking the barriers to become smarter investors.




On 16 July 2024, the ICAP Fan Club organised its inaugural research site visit to APM Automotive Holdings Berhad (“APM”), a Bursa Malaysia Main Market listed company that is a prominent player in Malaysia’s automotive parts manufacturing sector. Headquartered in the bustling Pandamaran Industrial Estate in Port Klang, APM has grown significantly since its humble beginnings in 1971 to become a leading supplier to major OEMs in Malaysia and beyond.

Guiding us through this insightful visit was Mr Tan Teng Boo, Designated Person of icapital.biz Berhad, seasoned Fund Manager of Capital Dynamics and Vice President of the ICAP Fan Club. His expertise in value investing and meticulous research methodologies set the stage for a profound learning experience.



The half-day visit commenced with a briefing by Teng Boo, setting expectations and equipping 17 of us participants with essential reading materials and insights into investment strategies. Armed with APM’s annual and quarterly reports courtesy of Capital Dynamics and recommended readings by Benjamin Graham and Philip Fisher, we delved into Teng Boo’s 3-stage investment process: Research, Analysis, and Decision-making.

“For Capital Dynamics, research is always the most important, taking 60% to 80% of our time and effort, followed by analysis, which takes 15% to 35%. When proper and sufficient research is done, it takes only 5% or less of our time and effort to make an investment decision,” said Teng Boo.



Welcomed graciously by Dato Robert Tan Eng Hwa, the CEO of APM and his team, we embarked on a comprehensive journey through APM’s history, divisions, and global footprint.



From suspension systems to heat exchange units and more, APM’s commitment to quality and innovation was evident throughout the corporate presentation. Despite the challenges of international expansion, APM remains steadfast, poised for future growth.

“The only way to know or determine where APM stands in terms of global market is to go outside Malaysia and compete.” said Dato’ Robert Tan with confidence.

A lively Q&A session followed, providing members with direct access to APM’s leadership team.

Dato Robert Tan and his team consisting of Group CFO Ms Catlyn Khoo, Head of Malaysia Operation, Mr Wolrence Siew, Senior General Manager, Suspension Division, Mr. Ng Boon Hooi, Deputy Finance Manager, Mr Christopher Kim, General Manager of APM Coil Springs, Mr Yeoh Lam Guan, and Executive Assistant to the Group CEO, Mr Kelvin Lee responded to the questions from our members patiently.

Their insights into market challenges, operational strategies, and future prospects enriched our understanding and investment perspectives.



The highlight of the visit was the plant tour, where members witnessed firsthand the intricate processes behind APM’s coil springs, suspension systems, and shock absorbers.

Most of APM’s facilities are automated. Some of the plants were rather hot due to the heat generated by the lines of machines. Even so, the facilities managers patiently toured the members of ICAP Fan Club and diligently explained the plant processes and products. My hats off to the APM team.



Back at Capital Dynamics’ office, a debriefing session allowed members to share their insights and further hone their research skills under Teng Boo’s guidance.



We extend our heartfelt thanks to Dato’ Robert Tan and the entire APM team for their warm hospitality and invaluable insights.

Special thanks also go to Capital Dynamics and the organising committee consisting of Mr Tan Teng Boo, Mr Teh Chong Leng, Mr Mok Zhen Yick, Ms Tan Mun Lin, Ms Che Hui Shan, Ms Teo Hui Xin and Ms Chang Yi Xin, for making this enriching experience possible.

The ICAP Fan Club looks forward to organising more insightful visits and activities, empowering members to make informed investment decisions and fostering a community of knowledgeable investors.

In conclusion, the APM site visit was not just a glimpse into a company but a transformative experience that underscored the importance of thorough research and informed decision-making in the world of investing. Here’s to more learning journeys ahead!

Loh Hang Pai
Your President