Highlights
KLSE: JOHOTIN (7167)       JOHORE TIN BHD MAIN : Consumer
Last Price Today's Change   Day's Range   Trading Volume
1.00   -0.02 (1.96%)  1.00 - 1.02  149,200
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Overview

Market Cap: 310 Million
NOSH: 310 Million
Avg Volume (4 weeks):259,087
4 Weeks Range:0.89 - 1.04
4 Weeks Price Volatility (%):
73.33%
52 Weeks Range:0.89 - 1.74
52 Weeks Price Volatility (%):
12.94%
Average Price Target: 1.58
Price Target Upside/Downside: +0.58
Stamp duty exempted for year 2018

Financial Highlight

Latest Quarter | Ann. Date 31-Dec-2017 [#4]  |  27-Feb-2018
Next QR | Est. Ann. Date: 31-Mar-2018  |  29-May-2018
T4Q P/E | EY: 11.66  |  8.58%
T4Q DY | Payout %: 3.55%  |  41.37%
T4Q NAPS | P/NAPS: 0.94  |  1.06
T4Q NP Margin | ROE: 5.64%  |  9.13%

Headlines

Date Subject
16-Mar-2018 Johore Tin - Expects More Capacity Expansion for F&B
28-Feb-2018 Johore Tin Berhad - Attractive Dividend Yield
22-Feb-2018 Daily Market Update - 22 Feb 2018 (JOHOTIN, MBSB)
31-Jan-2018 [转贴] JOHOTIN 的成长引擎是否还在? - 小商人
17-Jan-2018 Daily Technical Highlights - (JOHOTIN, HENGYUAN)
17-Jan-2018 柔佛珍 令吉走强推高净利
15-Jan-2018 Johore Tin Berhad - F&B Continues to Support Earnings
29-Nov-2017 Johore Tin Berhad - Cushioned By Forex Gain & Lower Tax
29-Nov-2017 Johore Tin Berhad - Resilient Top-Line Growth
07-Nov-2017 柔佛珍迈向RM1.60/敏源
01-Nov-2017 M+ Online Technical Focus - 1 Nov 2017
01-Nov-2017 Daily Market Update - 1 Nov 2017 (MMSV, JOHOTIN)
25-Oct-2017 Johore Tin Berhad - F&B Segment to Drive Future Growth
04-Oct-2017 Johotin (7167) – Strong Growth in Food and Beverage Segment
25-Aug-2017 JTB - Expecting To Catch Up In 2H
15-Aug-2017 JOHORE TIN - Strong Growth In Dairies Business
06-Jun-2017 Daily Technical Highlights - (JOHOTIN, LSTEEL)

Business Background

Johore Tin Bhd is principally engaged in the business of investment holding and the provision of management services. The group is organised into the three main reportable segments: Investment Holding; Tin Manufacturing; and Food and Beverage. Investment Holding is involved in the business of investment holding and provision of management services. Tin Manufacturing is involved in the manufacturing of various tins, cans, and other containers. Food and Beverage are involved in manufacturing and selling of milk and other related dairy products.
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  10 people like this.
 
sapurakencana I still believe market will maintain 92 cent merely because of it NTA value 93 cent,do you think it worth 93 cent if the coming quarter report keep on show bad report .
02/05/2018 13:24
sapurakencana Let see the additional capital expenditure that utilise in the year 2017 & the reason given by management.

Statement from the annual report
The Tin Manufacturing segment increases its capital expenditure for the current financial year as compared to
previous year by investing in new machineries. With the new machineries, the increase in capacity will help to
cope with the demands and potential increase in sales.
Due to the limitation on storage space under F&B segment, a new piece of land is purchased during the financial
year for an amount of RM6.8 million. Subsequent to the financial year end, a contract has been awarded to
GT-Max Construction Sdn. Bhd. to construct 1 unit of 1-storey factory (build-up area of 7,574.03 square metre)
attached together with 3-storey office building, 1 unit of guardhouse and waster chamber and 1 unit of electrical
substation with a total sum of RM14 million and is expected to be completed by fourth quarter of 2018.

Let guess how big return we expect to get from the above cap expenditure & how long period to get the return from this investment?

Let send the massage to AGM to get the answers.
02/05/2018 14:41
sapurakencana Statement from the annual report

The main factors that affected the operating activities in the Tin Manufacturing segment are shortage of labour,increased in raw materials prices and machineries upgrading.
The shortage of labour supply, both local and foreign, has resulted in challenges to complete customers’ orders
as per schedule. Therefore, more overtime is needed to complete the order on time and leads to an increase
in costs. To resolve this issue, we have appointed several recruitment agencies to source for new workforce
and currently we are able to cope with the demands and control over the increase in operational costs.

sapura reply: Shortage of labour-due to labour require no need high skill,i dont see this issue can not solve within 1st quarter of 2018.Shortage of labour start happen during 2017,when this issue will be last? If management can recruit enough of labour,more overtime issue not a issue any more.
management pls speed up your execution of job.
02/05/2018 14:53
sapurakencana Statement from the annual report

The increased in raw materials prices has affected our profit margin. To remain competitive, we have always
maintained our prices to our customers for as long as possible. In the event of continuing increase in raw
materials prices, we may have to increase our selling prices to our customers. The weakening of Ringgit Malaysia
(“RM”) against United States Dollar (“USD”) has brought about an increase in our manufacturing cost for our
directly imported raw materials as well as increased in prices from our local suppliers using imported materials
for their productions. Our operations team is always vigilant and monitors the cost of manufacturing for us to
stay competitive in the industry.

Sapura reply : management said profit decrease due to higher import material cost & weakness of ringgit. In current situation Suger & milk price keep on droping & our currency already recover from RM4.45 to RM3.92 (2.5.2018),It should be fovourable to our Tin & F&B business for whole 2018.Am i right,pls dont give excuse again & again.
02/05/2018 15:01
sapurakencana Statement from the annual report

Higher maintenance costs are expected as the existing machineries require frequent maintenance and overhaul
due to ageing of the machineries. Scarcity of the spare parts is a challenge to the maintenance team when
fixing older model of machineries. To resolve these issues, the production has upgraded existing machineries
and replaced them with new machineries with higher capacity and outputs.

sapura reply :
Another main reason is the reversal of RM3.01 million that was
recognised in the first quarter of the current year as gain on disposal of machinery. The equipment supplier
decided that they do not need the equipment and instead of a trade-in, they gave us a discount of RM3.01
million.
This also another un acceptable reason-did company engage unqualify engineer to make the wrong dicision to purchase the wrong machinery,until the company need to back charge under this quarter.
Doubtful debt appear 2 time in current financial year.
If this 2 issue continue happen,is unfair to the long term investor.
Management ,pls do the necessary step (SOP) to protect the shareholder interest.
Pls dont be silent,pls show the result to convience us.
02/05/2018 15:08
sapurakencana Statement from the annual report

Dependence on Key Management and Skilled Personnel
The Group’s continued success will depend upon, to a certain extent, the skills, experiences, abilities
and continued efforts of the key management personnel. The loss of key management personnel in the
Group may have an adverse impact on the performance of the Group.
The Group recognises the importance of attracting and retaining the key management personnel to
support the business operations. The Group presently has in place, human resources strategies which
include providing competitive and performance-based remuneration and providing employees with a
variety of on-going training programmes to upgrade their knowledge and capabilities.
However, we cannot provide any assurance that the above measures will be successful in attracting and
retaining the key management personnel.

Sapura reply :
This also the main issue of key management & personnel,additionally management also highlight that However, we cannot provide any assurance that the above measures will be successful in attracting and
retaining the key management personnel.

If management can not maintain the high skill management,we all will expect doubtful debt & wrong brought the old machine incident wil happen again & again in near future.
02/05/2018 15:25
ltg100y @sapurakencana, can you represent us to attend AGM? we really need some shareholders to bring the questions to the management, otherwise they will continue ignore us.
The main concern is why Johotin keep expand (build another new plant but existing new plant still not contribute) but no improvement of the net profit? Can management retain the cash or payout as dividend instead of keep build new plant which may not utilize or contribute to net profit?
Anyone will attend the coming AGM?
02/05/2018 16:27
sapurakencana I unable to attend AGM,that why i try to post my opinion here, hope somebody help me to deliver the massage ,if can record their answers as a evident for next year AGM.
02/05/2018 18:11
amzarb44 Sapurakencana please attend
02/05/2018 21:31
ltg100y too far for me to attend, yes, someone pls bring the questions to the board and record down their answers.
02/05/2018 23:22
amzarb44 Please ask ceo if he is able to lead johotin or else appoint new ceo
03/05/2018 12:09
amzarb44 Sedeyh to see my share value destroyed
03/05/2018 12:09
amzarb44 Still no increase.....bad result again?
03/05/2018 19:03
ITreeinvestor Most probably profit drop again. Doubtful debt, labor issue, higher raw material cost
03/05/2018 22:22
amzarb44 Bengong....almost one year dy x setel lg
04/05/2018 00:52
amzarb44 What the hell the management is doing???
04/05/2018 00:53
Eric6790 sleeping
04/05/2018 01:29
Jeffreyteck Happily counting their remunerations.
04/05/2018 09:34
amzarb44 Someone please raise this issue otherwise our shares value will be destroyed
04/05/2018 10:30
mrinvestor12 https://www.mrinvestor12.com/2018/02/johore-tin-berhad-7167.html
04/05/2018 13:30
Jeffreyteck Shares value already destroyed, anyway this is not the only one, many stocks also down significantly. Stocks without EPS growth and reasonable dividends are at best for speculation only and the price will ultimately drop.
04/05/2018 18:14
Patrick13 Whole year impairment loss on receivables is 8.41mil (mostly came from F&B division), look at AR2017 pg 114 Debtor Ageing Analysis, they fully impaired those more than 1 year overdue which supposedly shld do so in FY2016 actually.

The Management already done they shld done. If they able to recover back the bad debts, that's extra income to them. Hopefully they shld stringent the customer collection pattern and monitor closely the overdue credit term.
05/05/2018 14:58
sapurakencana i treat impairment loss was unrecoverable.permenently.dont u see the price 0.895 .it already reflect current quater will show bad result.than i wil downgrade tp from rm0.82 to ???
07/05/2018 17:01
amzarb44 Hmmm I hooe you are wrong sapura....Someone please go AGM and raise the issue as soon as possible
07/05/2018 21:11
targetinvest no effect currently.. minor up
14/05/2018 10:00
targetinvest waking up already!!! beware
14/05/2018 10:13
LuckyG sound like it . as kena slam for so long .
14/05/2018 11:11
amzarb44 Luckyg, please come with your figures as usual
14/05/2018 11:44
LuckyG as usual i believe no businessman will expand their capacity by so many folds if the future is getting bad . johotin only increase their capacity when their management is full of confident .
14/05/2018 12:29
amzarb44 How do I know their expansion plan by so many folds?
14/05/2018 15:18
amzarb44 Luckyg mind to.share tq
14/05/2018 21:33
sapurakencana beware of the trap, i stil maintain TP 0.82 due to external & internal business enviroment,unless new goverment deliver efficient policy & management show pro-active working attitude.
14/05/2018 22:59
LuckyG amzarb . you need to read all the report by public and TA on this counter . read their annual report and news . most of the information you can get there .
14/05/2018 23:58
amzarb44 Our patience test to see it sideways downtrend for sooo long while others increase
15/05/2018 09:49
amzarb44 The price should surge if the result is good.....now you know
15/05/2018 10:32
amzarb44 I regrettably ask myself why I hv to stuck in this? Better buy INARI,
15/05/2018 12:22
amzarb44 I shud hv enjoy hefty profits if buy INARI back then
15/05/2018 12:32
targetinvest no more GST so will enhance more retail consumption
17/05/2018 09:39
targetinvest going to boost up back to normal!!!
17/05/2018 09:48
targetinvest enroute back to RM 1.15 will be imminent
17/05/2018 09:52
targetinvest milk factory start to contribute positively soon!
17/05/2018 09:55
amzarb44 How much it contribute?
17/05/2018 11:08
sapurakencana targetinvest,how you know factory start to contribute positively soon! proof me with the fact.
how about doubtful debt & currency exchange loss,wil it happen again. without reliable info,we only conclude it as fate news
17/05/2018 14:05
targetinvest let the share price do the talking
17/05/2018 14:36
amzarb44 Well supported......but need a larfe buying volume to increase the price
18/05/2018 11:24
amzarb44 Getting more interesting......goodamzarb44 result ahead.......finger cross
18/05/2018 14:35
amzarb44 The drama getting interesting....
21/05/2018 10:00
sapurakencana left 3 more day before quarter report release,beware of the trap like heng yuan (today drop RM1.07) because of bad result
22/05/2018 10:14
shpg22 Just a heads up
Next quarter result won't be good. Min 50% drop YoY
22/05/2018 10:16
amzarb44 Luckyg so optimistic one
22/05/2018 10:51


 

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