Highlights
KLSE: JOHOTIN (7167)       JOHORE TIN BHD MAIN : Consumer
Last Price Today's Change   Day's Range   Trading Volume
1.25   -0.01 (0.79%)  1.25 - 1.28  563,900
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Overview

Market Cap: 388 Million
NOSH: 310 Million
Avg Volume (4 weeks):795,088
4 Weeks Range:1.16 - 1.35
4 Weeks Price Volatility (%):
47.37%
52 Weeks Range:1.16 - 1.76
52 Weeks Price Volatility (%):
15.00%
Average Price Target: 1.66
Price Target Upside/Downside: +0.41

Financial Highlight

Latest Quarter | Ann. Date 30-Sep-2017[#3]  |  28-Nov-2017
Next QR | Est. Ann. Date: 31-Dec-2017  |  22-Feb-2018
T4Q P/E | EY: 10.57  |  9.46%
T4Q DY | Payout %: 2.04%  |  21.56%
T4Q NAPS | P/NAPS: 0.8796  |  1.42
T4Q NP Margin | ROE: 7.49%  |  13.44%

Headlines

Date Subject
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)
02-May-2017 Johore Tin still has much room to grow [The edge/may 1.2017]
26-Apr-2017 Daily Technical Highlights - (HSSEB, JOHOTIN)
25-Apr-2017 Daily Market Update - 25 Apr 2017 (CHOOBEE, JOHOTIN)
12-Apr-2017 PublicInvest Research Headlines - 12 Apr 2017
06-Apr-2017 Daily Market Update - 6 Apr 2017 (HIBISCS, JOHOTIN)

Business Background

Johore Tin Berhad is a Malaysia-based company engaged in investment holding and provision of management services. The principal activities of the Company's subsidiaries are manufacturing of various tins, cans and other containers, as well as printing of tin plates. Its products include biscuits tins, edible oil and vegetable ghee cans, plastic jerry cans, paint and chemicals cans, sweetened condensed milk (SCM) and evaporated milk cans, pineapple cans and processed food cans. As of December 31, 2010, the Company's subsidiaries were Johore Tin Factory Sdn. Bhd., Unican Industries Sdn. Bhd., Kluang Tin & Can Factory Sdn. Bhd., and PT Medan Johor Tin. On November 1, 2011, the Company acquired Able Dairies Sdn Bhd.
Analyze this stock with MQ Trader system

  10 people like this.
 
abu same pattern like Nov17 when previous analyst report out...
18/01/2018 14:57
sapurakencana Let talk about Nestle,F &N & Dlady who also milk powder manufacturer,why their price shut up almost 20%(represent investor so confident they wil earn more even previously they declare 2 quarter drop in NP 20-30%),if the coming quarter their Qtr report is good,then we can guess Johoretin also may declare good result due to all of them are strong ringgit beneficiarer
18/01/2018 21:39
John1234 Today is T+3 after the last spike. Price could move up if big players have accumulated more at current prices and after contra selling period...
19/01/2018 13:40
LuckyG today selling pressure is surprisingly low ... i think johotin will rally again soon.
19/01/2018 14:26
shpg22 SELL...next 2 quarter result will not be good.
19/01/2018 14:28
John1234 Vol traded is low today(not much contra selling). This means most players are not willing to sell at current price. Hope TA securities research house is right on its analysis...
19/01/2018 17:17
Eric6790 hope it will rebound till cny
21/01/2018 16:55
boon1515 onboard
22/01/2018 11:53
John1234 Closed at 1.33. Looks like price is pressed down after each brief spike....
23/01/2018 19:19
John1234 Ringgit has appreciated steadily against USD in the past month. From TA Securities research house, a stronger ringgit would benefit the company more.
23/01/2018 19:39
sapurakencana dont 100% base on research house recommendation,do your home work before invest even this counter is a good counter for me.
23/01/2018 21:46
keyin No more hope for this year
23/01/2018 22:49
Lew Chin Hoong dont trust research house +1
23/01/2018 23:39
John1234 Well, we shall see if the research house is trustworthy or simply the job of the operator to collect low....
24/01/2018 07:07
KYY SureWin Don't ever trust research houses. They makan and party with operators. Only release news to psycho ikan bilis
24/01/2018 07:14
sapurakencana 花莎尼进口大量奶粉,强马币将使成本大幅减低

RM/USD strong from RM4.15 to RM3.916 today,i sure this factor also wil benefit johotin for the coming 2 quarter.let wait & see
24/01/2018 21:02
John1234 Wow, F & N emerges as a top gainer this morning. When is Johore Tin's turn to go up? Do not tell me the operator is still collecting...hehe
25/01/2018 11:32
sapurakencana he test your patient,be careful.
25/01/2018 12:50
LuckyG when it go up suddenly all the 2nd seller 3rd seller 4th seller 5th seller volume dissapear .....
26/01/2018 10:37
John1234 Yes, this counter has a lot of "fake" vol. Operator wanted to push it up this morning, only to find a lack of speculative demand and pushed it back again. A real joke!

Chartwise, still trending down with some "fake" buying supports and no signs of a trend reversal yet. Cannot chase high, even when ringgit can be soaring. Need to wait for the next quarterly report out to provide clarity.

Just my observations...
26/01/2018 17:12
sapurakencana If this quarter report we expect wil improve compare with previous quarter,let check the PE- Johotin PE 11.38 ,F&N PE32.96 , Can one PE6.9 & Nestle PE41.55.
Guess who wil outperform by end of Feb2018. (in percentage increase)
29/01/2018 10:18
pc_FA http://klse.i3investor.com/blogs/kianweiaritcles/145984.jsp
31/01/2018 12:48
pc_FA http://www.bursamalaysia.com/market/listed-companies/company-announcements/5681689
02/02/2018 21:05
pc_FA “股价跌跌不休 柔佛珍路不平” Latest The Busy Weekly got an article about Johotin.
03/02/2018 23:41
mrinvestor12 http://www.mrinvestor12.com/2018/02/johore-tin-berhad-7167.html
05/02/2018 08:58
sapurakencana now seem like support at RM1.25,nowbody want to sell at this price.
05/02/2018 15:04
LuckyG i thought can drop till 1.20 for me to collect ......
05/02/2018 16:35
WaAdaLui Hi.... Everybody still OK?
06/02/2018 11:23
keyin Die
06/02/2018 11:29
Chia Foo Lim no eyes see
06/02/2018 11:55
LuckyG still haven`t bought back yet ...... hahaha i sold 40% near 1.36-1.39
06/02/2018 13:08
LuckyG for sure i will buy back . confident johotin doing better and better
06/02/2018 13:11
LuckyG no drop now nice ?
06/02/2018 16:26
WaAdaLui Aiyo. Rebound le
06/02/2018 17:13
newbie009 strong support at 1.25!
06/02/2018 17:14
LuckyG today so many sellers lolx
07/02/2018 10:17
pc_FA JOHOTIN的基本面分享和Q417预测

股市近日血流成河,特地加了基本面分享让大伙儿多点专注生意,远离股市。基本面的重点的是企业的财务基础及其营运流程,所看的是它们是否健全及顺利,两者互相支撑及互相辅助。财务营运良好者即能为企业创造更多盈利,更能成长进步及回馈股东。而这一切都得取决于管理层的努力,领导及决策。

如果以上条件都符合的公司,我们会称之为优质股。优质股拥有一些特质,如冷前辈指出:有成长,强现金流,高股东回酬,合理本益比,派股息。现在让我们以这些特质从新解读今天的柔佛珍,看它是否还是一颗珍珠。

成长:管理层的扩充计划已经在上一篇列出。除了内部努力,外在的因素如人们对产品的需求也是重要一环。Diaries消费品可以说是很稳定的一门生意,如今Johotin已经越过了dairies的生产门槛,接下来的努力应该是积极维持和提高质量及品牌。看每一季的季报,管理层都会提及dairies的high demand和growing,如果继续把握商机,必能蒸蒸日上。

现金流:强劲现金流必须要有多余的净营运现金,那才能让企业有空间发挥。一般来说管理层有三项选择来运用多余现金:扩充,还债,派息。Johotin在这方面是三管齐下。扩充上篇有提到,努力不曾间断。还债更是积极,尤其是这两年,债务单单在2016即从107.5mil减至66.4mil。而20173Q里继续降低至46.3mil。手持现金则在这期间从36.9mil增至57.6mil,晋升为净现金企业。除此以外,它也不忘年年派息。

股东回酬:此指标用作衡量管理层如何利用股东们的每一份钱及资源。
2015年 = 17.3/194.8 = 8.8%
2016年 = 36.1/225.1 = 16.0%
2017年 = 预计12~15%
以上%解释说管理层能将你投入的每10块,每年创造80cent ~ 160cent的价值。

本益比:以今天计算大约10~11,算是合理。
股息:每年2~4cent股息。预计债务进一步降低后股息会随着稳定或进一步提高。

Q417 业绩预测
对我来说这一季的业绩有两个不确定性:
1. 马币升值带来的影响
2. 管理层是否还会拨备坏账

对于汇率,有人说Johotin是出口股(大部分USD),马币强会影响盈利。有者则说升值可以降低它的原料进口成本,有利。谁是谁非?我们还是看数字吧,以下是过去7个季度的汇率波动,gross profit margin以及外汇盈损的数据。

Gross Profit是营业额减去成本(原料及人力)的金额,观察此数字或许可以给我们成本影响盈利的方向。从以下数据看,不难发现在马币走强期间,GP margin普遍都很稳定于14~14.5%,虽说成本减低但利润也随着外汇走低。但如果在单季内马币转弱,尤其是低于上个季度很多时,那margin会升高至18%,这可能是低买高卖的原理(Q316和Q416)。但如果马币长期处于弱势,那margin就会因高成本而下降,就如Q117只有12.5%。

至于外汇盈损,johotin有自己的自然缓冲。管理层会将receivables及payable (大多数是USD)的差额做short term foreign currency forward contract来降低外汇风险。最近几季来看都做得蛮好的。个人对Q4还是有点期待,营业额应该会继续升。但基于最近世道不好,保守估计140mil。

在没有坏账拨备的情况下:
Gross profit ~ 20mil (14% margin)
Expenses ~ (4 + 3.5) = 7.5mil
PBT 保守估计 ~ 12.5mil
PAT 大约 9.5mil (EPS 大约3cents)

Gross Profit Q116 to Q317
Note: Gain on disposal Of PPE is deducted

Q116 USD 4.28 to 3.96
GP 13.4/91.58 = 14.6%
Foreign Ex = 0.23mil

Q216 USD 3.96 to 4.06
GP 16.6/115.35 = 14.4%
Foreign Ex = 3.05mil

Q316 USD 4.05 to 4.13
GP 21.6/115.8 = 18.65%
Foreign Ex = 0.15mil

Q416 USD 4.11 to 4.48
GP 22.3/118.7 = 18.7%
Foreign Ex = 0.09mil

Q117 USD 4.48 to 4.41
GP 12.9/102.6 = 12.5%
Foreign Ex = 0.89mil

Q217 USD 4.41 to 4.28
GP 18.0/123.4 = 14.5%
Foreign Ex = 0.13mil

Q317 USD 4.28 to 4.20
GP 18.75/132.9 = 14.1%
Foreign Ex = 1.27mil

声明:本人所有帖文均是为个人投资功课做记录以方便将来跟进,所有分享皆属个人观点。读者请自行检测数据及分析。

***取自<小商人>FB专页
07/02/2018 12:43
LuckyG anyone got news to share ? look at the transaction should have something
08/02/2018 10:04
WaAdaLui Dun no wo. Good or Bad?
08/02/2018 10:56
LuckyG Should be good news
08/02/2018 11:10
husky88 Need hold another one or two year .
19/02/2018 10:14
mrinvestor12 http://www.mrinvestor12.com/2018/02/johore-tin-berhad-7167.html
19/02/2018 10:57
WaAdaLui 是不是有好消息要公布?
21/02/2018 16:06
keyin Got news also can't fly higher, lol
22/02/2018 09:55
LuckyG What news ? Got announcement ?
22/02/2018 13:06
Coolbird this counter made me very confuse,lose my all decision power
23/02/2018 16:11
Coolbird my everage 1.56...how to play now o
23/02/2018 16:11
sapurakencana if u r long term investor,be happy,dont worry.i already hold for 7 years & collect durian runtuh (dividend every year).
23/02/2018 23:00
VincenT Low Is anyone seen the able diary sell in any where? Sundry shop ? Tesco ? Giant ? Chinese medicine shop ?

FYI malaysia contribute 25% of revenue of diary product. 125 mil per year. So must be selling some where else.
24/02/2018 14:15
LuckyG seen once when i in mamak . they use the "BOLEH" brand condense milk
24/02/2018 16:50


 

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