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KLSE: TOMYPAK       TOMYPAK HOLDINGS BHD
Last Price Avg Target Price   Upside/Downside Price Call
0.80 0.81     +0.01 (1.25%)
* Average Target Price, Price Call and Upside/Downside are derived from Price Targets in the past 6 months.
** Price Targets are adjusted for Bonus Issue, Shares Split & Shares Consolidation (where applicable).
Date Open Price Target Price Upside/Downside Price Call Source News
02/05/2018 0.80 0.555 -0.245 (30.62%) SELL KENANGA Price Target News
28/02/2018 0.87 0.81 -0.06 (6.90%) HOLD MAYBANK Price Target News
24/11/2017 0.97 1.05 +0.08 (8.25%) BUY MAYBANK Price Target News


Price Target Research Article/News (past 6 months)
02/05/2018  KENANGA Tomypak Holdings Berhad - Neutral on FY17 Earnings Deviation
28/02/2018  MAYBANK Tomypak Holdings - Below Expectations
24/11/2017  MAYBANK Tomypak Holdings - Short-term Pain for Long-term Gain



  4 people like this.
 
Kin Wing Don't expect good news for the forth quarter 2017, I look forward to first quarter 2018. Tomypak ED had mentioned "Aims For At Least 20% Rise In Revenue This Year"
26/02/2018 11:27
W16Y Look long term . There will be a revolution in the packaging industry globally .... starting in Asia ...
Malaysia is best place to start ..
26/02/2018 21:55
W16Y Maybank IB Retail Research

Scientex’s wholly-owned Scientex Packaging Film S/B entered into a sale and purchase agreement with several individuals to acquire the entire stake in Klang Hock Plastic Industries S/B (KHPI) for MYR190m cash, to be funded by internally generated funds and/or bank borrowings. The proposed acquisition is expected to be completed by 2Q

KHPI is principally involved in the manufacturing and selling of plastic films, bags, tubes, and other flexible plastic packaging products, with two manufacturing plants located at Klang, Selangor (99,000 MT annual capacity. It reported a PAT of MYR11.1m in FY3/17. There is a profit guarantee of MYR18m for FY3/19. At MYR190m, it effectively values KHPI at 8.44x EV/EBITDA, below Scientex’s 3-year historical average EV/EBITDA of 9.8x.

This acquisition is expected to generate synergistic benefits to the group. For a start, it would further expand and enhance its flexible plastic packaging products. The enlarged entity would also benefit from the increased production capacity and the larger customer base.

It seems that Scientex is accelerating its expansion plan. Although certain details are sketchy at the moment (such as gearing post acquisition, historical financial performance of KHPI, etc), management expects its manufacturing revenue to surpass MYR2b while its annual production capacity will rise by 30%, from 356,000MT currently to 455,000MT.

The expansion by its manufacturing activities makes sense as it would help to offset potential slowdown in the property market. At present, Scientex’s property arm is engaged in township development projects mainly in Johor and Melaka. Currently, it has projects in hand amounting to approximately MYR1.4b.

Prior to this proposed acquisition, the street is expecting a 17.9% 3-year EPS CAGR for FY7/17-20. Therefore, it is anticipated that research houses will be revising their forecasts higher going forward, and this could help to re-rate Scientex’s share price performance.

Brokers are mixed on the stock with one Buy and three Holds. The mean target price is MYR8.91 (likely to revise higher too on expectation of stronger earnings). At current price, Scientex is trading at 11.4x consensus FY7/19 EPS of 75.8sen, below its 3-year historical average P/E of 13.4x. The group has been actively engaging in M&A activities for the past few years.
26/02/2018 22:03
Qintian Dear W16Y, i could not find the collaboration between Scientex packaging acquired KHPI and Tomypak.. do you mind to enlighten me?
26/02/2018 23:48
DarKLoRD888999 GG result LOL
27/02/2018 13:15
mf bj Write a comment..Gap down
27/02/2018 13:36
PotentialGhost Najix say Malaysia economy very good , but most good company also post a shit result , check out all bursa Malaysia stock already know 。
27/02/2018 15:19
necro TOMYPAK?...with the rise of crude oil...the impact will be huge...plus RM already strengthen...2 factor that will kill TOMYPAK...
its new line production will definitely unable to bring short term return desired...
my 2cents
27/02/2018 19:25
W16Y Lower Gross Profit margins due to an increase in Cost of Goods Sold arising from:
i) Increase in cost of raw materials during the year as compared to FY 2016;
ii) Increase in overall factory overheads as a result from the start-up of the new plant in Senai in the 2nd Quarter 2017. There were also substantial start-up costs including usage of raw materials, utilities and additional labour costs, to conduct trial production runs, incurred in the commissioning of the new plant and equipment acquired, installed and commissioned during the year. Such costs do not translate into sales.
In addition, there were also additional maintenance costs to maintain the old equipment, increased factory sundry expenses resulting from continuing on going rectification and upgrading works at both factories, which are expensed off;
iii) Additional depreciation costs recognised as the Group started to provide for depreciation of the new factory buildings in April 2017 and new equipment as and when these new equipment are installed and ready for commencement of operations, while full revenue from the new plant has yet to achieve fully pending final inspection and approval from major customers;
iv) Additional substantial costs recognised in FY 2017 as a result of the adoption of MFRS 15 which now requires that cylinder costs which forms a substantial portion of the production costs and which are unique to operations of gravure printing technologies, are to be written off instead of depreciated;
v) Additional transportation, security and other operating costs arising from the operations of 2 plants; and
vi) Provision for obsolete stocks and year-end stock take adjustments.
c) Lower other income resulting from a reduction in foreign exchange gains as a result of the strengthening of the Malaysian Ringgit against the US Dollar; and
d) Higher financial expenses arising from drawdown of loans to fund the purchase of equipment for the new plant.
27/02/2018 23:20
pc_FA Take profit of Tomypak (around 0.875-0.91) yesterday. I will buy in back once the report show improving later.
28/02/2018 10:16
pc_FA Quite disappointed result. I don't expect it will report lose at this quarter.
28/02/2018 10:31
Qintian i think the latest quarter result has break a lot of tomypak fan's heart
28/02/2018 10:35
pc_FA Agree. Including me :(
28/02/2018 10:37
hero666 Lesson, don't catch the falling knife. And I'm not making fun, I'm still fans of Tomypak, also lost huge amount in penta.

Just 2¢ of the lesson i learned lately
28/02/2018 16:15
khkyl Hero666, u still.holding tomy? I think it is overreacted as most of the cost is for new factory n depreciation?.
Thanks
01/03/2018 13:41
hero666 khkyl, no, i didnt hold it, last year sold already. And no, its not an overact or panic sell at all. Now 0.795 is last year March pricing, wait till it breakout 0.75 last support then no need keep in watchlist at all. Now simply is investor had a total lost confident in tomypak, simple straight.
01/03/2018 15:24
kuanwah last year march price not 1.8 ?
01/03/2018 15:31
pc_FA I will join back once Tomypak prove their expansion plan is work.
01/03/2018 16:56
hero666 kuanwah, 1.8 is before bonus & split price, my price chart updated based on adjustment of the bonus and split. My suggestion same with pc_FA, no need visit this counter anymore until the company performing back..or no need buy back la, plenty counter out there outperform steadily
01/03/2018 17:06
01/03/2018 21:59
pc_FA The expansion plan seems like taking longer time than expectation.
01/03/2018 22:51
kuanwah Oh i see. Thanks for explaining :)
02/03/2018 13:32
Bursa Christopher disappointed
02/03/2018 22:03
Bursa Christopher still lose even got dividend.....
06/03/2018 23:47
shpg22 Looking ahead, its going to be tough. Downgrade to 0.40.
DPS is expected to be 2.00 cents translating to a DY of 5.0%. This will reminiscent sky diving stock like PERSTIM. Also used to be dividend darling for many years.
07/03/2018 16:07
leslieroycarter Tuesday, 27 Feb 2018

12:55PM TOMYPAK Interim Dividend T.E. 0.2 Sen
12:54PM TOMYPAK Financial year end net profit 9.579 million (decreased 47.88%)
09/03/2018 15:59
spectre007 Anything interesting? Price slowly climbing
14/03/2018 22:12
DickyMe "Posted by DickyMe > Jul 11, 2017 12:13 PM | Report Abuse
It still need to retrace lower, for a rebound. 60 sen area looks good for collecting.

Posted by DickyMe > Jul 11, 2017 05:08 PM | Report Abuse
Patience is key, ozie75. Aug 17 is too short to reach 60 sen..Maybe, you are optimistic about upcoming QR. Good for you if it rises and I will wait for next round, if any. :-) "
================================================================

Seems long term borrowings increased three fold. One more long hard dip awaiting. Price may dip lower than 60 sen.
28/03/2018 22:19
shpg22 Tomypak is extremely overprice at current valuation. Now even under priced small cap stock is badly beaten down, take profit and get out of here. Last warning.
04/04/2018 15:50
Bursa Christopher OFFER!!!!!!!
04/04/2018 18:29
DickyMe No offer. See you below 60 sen.
05/04/2018 21:20
1774931129203279 share buy back?
18/04/2018 09:53
1774931129203279 any news?
18/04/2018 09:57
Jessie Ng up up
18/04/2018 11:02
W16Y http://www.theedgemarkets.com/article/tomypak-reports-more-10-deviation-between-audited-and-unaudited-profit
30/04/2018 22:48
W16Y Last Quarter Result, Error done by previous CFO , Liew. In fact, no losses. Liew tender resignation & left Tomypak. New CFO being hired.
30/04/2018 22:50
Kin Wing "W16Y --> Last Quarter Result, Error done by previous CFO , Liew. In fact, no losses. Liew tender resignation & left Tomypak. New CFO being hired."

I don't think Liew resigned because of error in the last quarter result. Moreover, Liew is the finance manager of Tomypak Flexible Packaging Sdn Bhd, not the finance manager of the listing entity Tomypak Holdings Berhad.

The last quarter result, i.e. 4th quarter 2017 was released on 28 February 2018 and Liew resigned on 28 February 2018. The presumption of Liew resigned because of error made in the last quarter result is not making sense.
01/05/2018 10:55
W16Y Fact error had been made. Liew was the finance person in-charged. The accounts was definitely done before the 28th, just announced on 28th. Maybe u r right ... he know he is going to resigned... hence he just doesn’t borther to do his job properly.
However, good job to the managent, able to reversed back the last Quarter losses.
02/05/2018 10:30
ltg100y it is tax incentives help, i still prefer operation can make profit. Moreover, Q4 sales drop is not a good sign. I hope the management can boost the sales since new plant phase 1 is full commercial run now.
02/05/2018 23:27
mlim something wrong here.......
1st, based on result, why finance manger can create losses to tomypak ? i asked my sister who is accountant too. accountant is compiling the data, do report........ they are not doing business or production, so, i think liew should not be blamed....

W16Y, can i know who told you the CFO created the problem ? if really the fact, this should be confidential information also, right ?

2nd, the expansion of tomypak looks like failed..... why sales not increased..... ? according to announcement, the poor result due to high depreciation, fixed cost, finance...........
04/05/2018 17:45
W16Y If an error was made, especially on accounting manner. How can big amount of tax incentives can be left out. CFO should be held responsible. He was the person incharged before he resigned . That’s common sense.
Moreover, what it is related to ur accountant sister ? Real joker
04/05/2018 18:35
mlim i m not accountant. I only asked my sister's opinion who is accountant.... don't be so angry and said that i m joking ....

from announcement of result, business dropped and poor performance especially after expansion....... unfair to us as shareholders especially after fund raising....... Can 1 person, CFO, caused the poor performance, likes sales drop, high depreciation, high interest ....... There is BOD, two or 3 chartered accountnat in BOD, BOD should responsible....

Also, something wrong, if really due to tax incentive mistake, why this revised figure can only be announced after 2 months of CFO left ?

We can ask the BOD and auditor during the AGM. To see what's going wrong with this company.
04/05/2018 20:06
mlim Kin Wing, ltg100y, how do you think ?
04/05/2018 20:07
ltg100y @mlim, do you plan to attend this coming AGM?
For accounting problem, i also want to know what happen.
In my opinion, i don't think expansion is fail but the expansion is slower than my expectation at least half year, need the management to explain.
In addition, phase 1 still not running full capacity and phase 2 commercial run in Q3, is the management able to get more customer orders? Otherwise the depreciation charges, overheads and start-up cost will be very high. This is my concern too.
04/05/2018 22:59
W16Y Everyone is aware of of the drop of sales, new financial accounting standard on the depreciation, higher fix cost that result in lower profit. We know how to read financial report and understand the business & industry.

My question here, as a professional accountant , how about a huge tax incentives can be left out? If was FY end 17. Sudden Liew left end feb. and new CFO appointed. (maybe u can check that with ur sis) if she can miss that out ?

Of coz , board have to be responsible too. Even the auditors.
But at least they manage to identify it and take back into accounts and make an announcement. (Should able to know better during the AGM)

Can argue Migration and Expansion plan take longer time than expected. But it was a 7years plan when they announced 2 years ago.
Overhead and startup cost definitely will be high. Phrase 1 capacity can’t be coverings the entire new factory overhead. I guess We can only be able to see improvement beginning 2nd half 18 onwards .
05/05/2018 14:47
mlim itg100y, due to the investment in tomypak, I made loss... sure will go and ask more questions..... if not wrong, watch dog went for last agm... they should go and ask more for this time............

w16y, i m not accountant, i don't know there is new accounting standard on depreciation......Same doubt to the market....... if it is really big tax incentive, the auditor should be aware more earlier b4 they made quarterly announcment in feb ...... i asked my sister, she totally agreed to my point....... also, my sister said that, based on tomypak's size of companies, not many companies in 1 group, and the other subsi is very small trading co, auditor should finish the job b4 announcement made................. My sister's co is audited by kpmg also, 5 active companies with sales more than RM500mil, and 1 co in S'pore with sales more than RM50mil, they complete the job b4 announmenet made.

Itg100y, do you agree my point, do you know that they have 7 years plan ?????? i attended the agm three times, never heard........
05/05/2018 19:39
W16Y The Board of Directors (“Board”) of Tomypak Holdings Bhd (“Tomypak”) recognises that it has the overall responsibility for the conduct and performance of Tomypak and its subsidiaries (“the Tomypak Group”). It takes the role of providing the necessary stewardship and oversight on behalf of all shareholders to insure that the Tomypak Group performs.
Its main focus is on setting the overall strategic directions that the Tomypak Group should embark on to create value for its shareholders. The Board also review and provide guidance on critical and material business issues and in specific areas such as corporate governance, risk management, business strategies, internal controls, investors relations and shareholders communications.
During the FY 2017, one of the key matters that the Board undertook other than the routine tasks was to review and to provide guidance to the management in the development of a 7-year Strategic Plan to chart the future direction that the Tomypak Group should embark on given the various strengths and opportunities, as well as threats and weaknesses that exists within the Tomypak Group and in the environment. This Strategic Plan encompasses key areas such as Market, Operational, Organizational, Financial as well as Environmental Social Governance issues.
07/05/2018 02:18
mlim hahaha, in this forum, this will be my last comment :

W16Y, looks like you are very familiar tomypak, and you know a lot of things that market may not know....... also, shareholders likes me (loss 20 cts each share) are unhappy..... but, you very support the co.

there are 2 executive directors in the bod, previous and now, don't tell me that you are lim hun swee, or tan see yin ? hahahaha....... or, you are new CFO ?

forgot already, tan see yin is the executive director and chartered accountant........ if we read the directors profile of annual report.......
07/05/2018 07:07
W16Y This is because I read annual report & announcement made in Bursa And I don’t rely on accountant sister to tell me things. Worse still, question has been raised by other shareholder during previous AGM on the 7 years strategic plan. Wonder if you are listening ? Or were you really there.
I m a shareholder who lost more than 20% too.

I raised the question regarding the “tax incentives” how about being left out by the CFO. While you start talking about your accountant sister.
Definitely I will question the BOD on how about this happen.

As an investor , we clearly want to know , the direction and future growth of the company.
07/05/2018 12:14
Bursa Christopher Haiz。。。
22/05/2018 00:25


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