20070316 The Chairman Mr Teh, at the Public Bank Berhad AGM yesterday alluded to something that is food for thought for those who deride the stock market. This is something that is worth noting in the blog.

• "After 40 years of uninterrupted profit growth, a shareholder of 1,000 Public Bank shares in 1967 would now be owner of 129,720 Public Bank shares worth a whopping RM1.16mil. Together with RM391,000 paid out in gross dividends, Teh said the net worth of the 1,000 shares would be RM1.55mil, which represented a compounded annual return of 20% for each of the 39 yers."
• "One owning Public Bank shares since the start of 2002 when the shares were worth RM5 each would have reaped a return of 122% over the five-year period to date, compared with a 58% rise in the KL Composite Index. "