Highlights
KLSE: SASBADI (5252)       SASBADI HOLDINGS BHD MAIN : Consumer
Last Price Today's Change   Day's Range   Trading Volume
0.695   -0.005 (0.71%)  0.69 - 0.715  1,083,600
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General Meeting

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Ann. Date Date Time Type Venue View
12-Jul-2017 28-Jul-2017 10:00 EGM The Green III Function Room Tropicana Golf & Country Resort Jalan Kelab Tropicana 47410 Petaling Jaya Selangor Darul Ehsan Meeting Detail
27-Dec-2016 19-Jan-2017 10:00 AGM The Greens III Function Room Tropicana Golf & Country Resort Jalan Kelab Tropicana 47410 Petaling Jaya Selangor Darul Ehsan, Malaysia Meeting Detail
27-Jun-2016 19-Jul-2016 10:00 EGM The Greens II Function Room Tropicana Golf & Country Resort Jalan Kelab Tropicana 47410 Petaling Jaya Selangor Darul Ehsan Meeting Detail
22-Jan-2016 18-Feb-2016 10:00 AGM The Greens 3 Function Room Tropicana Golf & Country Resort Jalan Kelab Tropicana 47410 Petaling Jaya Selangor Darul Ehsan, Malaysia Meeting Detail
19-Jan-2015 11-Feb-2015 10:00 AGM GLENMARIE BALLROOM A, HOLIDAY INN KUALA LUMPUR GLENMARIE, 1 JALAN USAHAWAN U1/8, 40250 SHAH ALAM, SELANGOR DARUL EHSAN Meeting Detail
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  6 people like this.
 
Sanofi i plan to invest in this counter, and i have checked the report.. it seen normal for me, then i must miss out something.. have to relook again!
10/11/2017 12:15
Thepainfultruth Sanofi, you may check out the Q4 2016 report for internal billing, contributing to 38.59% of the undiscounted revenue.

It's called "inter company elimination" in the report.
10/11/2017 13:54
Thepainfultruth Quan,

Praying is not sufficient in this case :)

July 2017, SAS paid RM9.4 million in cash to Law En Tzer, to acquire the remaining 30% stake in Sanjung Unggul Sdn Bhd. As below:

http://www.theedgemarkets.com/article/sasbadi-buy-remaining-30-stake-publisher-chinese-school-educational-materials-rm94m

From I what I see in the financial report, Sanjung unggul gives a gross profit of RM5,779,000 in financial year ended 31 Aug 2016. But this gross profit dropped to RM5,421,000 in financial year ended 31 Aug 2017.

My question for the management is: "Why make an acquisition decision that is not benefiting the company?" You paid RM9,400,000 to Law En Tzer, who coincidentally happens to be the family member of the managing director, but that decision resulted in a reduced income for the company.

It doesn't make good business sense to me.
10/11/2017 14:11
Sanofi Thank you@Thepainfultruth! i need to study the financial report again and according to your explanation to Quan, it this mean they are transferring company money out for they buddy!
10/11/2017 16:38
RainT Wow wow ....very good

Now Sasbadi forum so lau juak!!!!
10/11/2017 23:21
RainT Actually inter company sales does not effect to the income statement

When prepare income statement , they must follow accounting principles where all inter company sales and inter company costs will be eliminated

All the sales and expenses in income statement is with external parties only

So how high internal billings also , at the consolidated level , it will be eliminated and no effect
10/11/2017 23:26
RainT @Thepainfultruth
Thanks for info , never know that they acquire Sanjung Unggul is the Law director family member

This hint that this company something wrong , like they use Sasbadi for own purpose , management not good

Will check further , if truth then Sasbadi is a SELL , not worth to hold on
10/11/2017 23:29
RainT Sitting on 25% unrealized loss now

Is it all my research , study and understanding of Sasbadi is wrong ?

Why the share price keep on drop ....
12/11/2017 11:14
Thepainfultruth RainT, maybe a good place to start your research is by finding out who is Law En Tzer and his relationship with the MD Law King Hui
12/11/2017 21:19
RainT Both the Law is family members ...

But family members and related parties is OK as long as the company running properly and profitable
13/11/2017 01:13
RainT Many listed companies also have related parties

Important is Sasbadi run by good management and profitable

Now unrealised loss 25% within short term don't think will go up 25 %
13/11/2017 01:15
Thepainfultruth July 2017, SAS paid RM9.4 million in cash to Law En Tzer, to acquire the remaining 30% stake in Sanjung Unggul Sdn Bhd. As below:

http://www.theedgemarkets.com/article/sasbadi-buy-remaining-30-stake-publisher-chinese-school-educational-materials-rm94m

From I what I see in the financial report, Sanjung unggul gives a gross profit of RM5,779,000 in financial year ended 31 Aug 2016. But this gross profit dropped to RM5,421,000 in financial year ended 31 Aug 2017.

My question for the management is: "Why make an acquisition decision that is not benefiting the company?" You paid RM9,400,000 to Law En Tzer, who coincidentally happens to be the family member of the managing director, but that decision resulted in a reduced income for the company.

It doesn't make good business sense to me.
13/11/2017 07:51
Thepainfultruth Good point RainT, it's ok if SAS is run by good management and profitable. But the fact is that it is not. From what I observed it is a downward trend, revenue plunged and cost soared, sounds like mismanagement.
13/11/2017 07:54
powerinvestor Finally the truth sinks in.

My friend was recruited as one of their MLM scheme selling their digital products. He left at the end due to the bad experience he had. A few reasons he gave:

1. Incompetent Product. The digital product by sasbadi is merely a digitalization of its school books, it is just a book but in digital format. Other products in the market offer lively interaction with great graphics and customised marking. It was a hype with SAS product initially, but true as he told me, now everything is crumbling. Product is king, a good product will yield good revenue.

Other better products in the market are eg: Fullamark, khanacademy, ilearning.

2. Weak training. He was told to go to fight a war but with minimal training and resources. No info on the market trend. Was quite a humiliating experience when his prospects showed him other better products in the market.

3. Low and late commission. Commissions promised was not received in due time. Despite repeated reminders and 'begging; 'wages were delayed. Dont ever say yes to them.

4. Poor management. Infighting between own people. No clear line between sales territory. at the end, sales lead and sales rep overlapped, resulted in price war.
13/11/2017 11:35
Sanofi This company heavily depend on Government projects, schools have recently cancelled exercise books and it might lead this company revenue deep further! i reckoned.
13/11/2017 11:54
Quan Fu Gan I just know that to invest the company need cash flow and less debt.
14/11/2017 07:55
powerinvestor One question you must ask yourself is, what is the company doing with your money?

Is the company doing things to spike the share price or is it really a growing company.

Is has announced that it will acquire one company a year. But the acquisition of own company is the biggest joke ever. You take our money to buy your companies belonging to your immediate family members. This is not acquisition. This is putting money into your own pocket.

And worst still, you made SAS lose company due to this acquisition.

SAS management, please focus your time to RUN THE BUSINESS WELL, but not on how to up the share price by news and announcements.

I agree with @Thepainfultruth, this company is not trustworthy nor transparent in their management.
14/11/2017 12:01
Thepainfultruth Sanofi, yes I think so.

I looked at the standard 1 and form 1 new textbook list. These are new textbook starting 2017.

I don't see anything from SAS in year 1. For Form 1, 0 subject also. That means bad news for SAS.

Before listing they have quite many textbooks, but now...no government project for SAS means sales will drop to rock bottom. i think the revenue will bye bye further..
15/11/2017 18:47
Yusof63 Thepainfultruth,
You didnt do your proper research. Actually sasbadi do not produce text book for KPM.
That the job of Dewan Bahasa. Sasbadi only secure a few text book contract from gov. The rest of it revenue come from open market through it buku tambahan n exercise book.

Sasbadi hs produced all range of books from Standard 1 to form six. Including new curriculum of KSSM for form 1 n form 4 in 2017 this year.

KPM has introduced 21st learning concept through it Dasar PPPM toward digital education.
Sasbadi now also transforming it contents toward digital content inline with dasar KPM.
Sasbadi now distribute its digital content/product through Mindtech Education one of SAS new subsidiary. The business is growing big now n going to give a big impact to the group.
Time to buy now...
15/11/2017 20:36
Thepainfultruth Yusof63, do you work for SAS? Looks like what you have said is not supported by data but driven by pure emotions.

Textbook is a big and vital part for SAS. If it were not so, will SAS be so eager to make announcement for EACH and EVERY successful tender that it gets?

What you say doesn't change the fact that SAS failed to secure the tenders it wished. Of the near to 100 textbook tenders in 2017, how many did SAS managed to secure?

You said time to buy? I say it is highly likely that you work for SAS.

HAVENT YOU HEARD THAT HARD SELL DOESNT WORK??
16/11/2017 23:03
RainT 0.745 .....another 1 year new low !!!!
16/11/2017 23:17
RainT @Thepainfultruth

Hi, can share from where you get information about the list of Standard 1 and Form 1 new textbook list ?

From where we can see the government school book list ?

Pls share
17/11/2017 15:10
Sanofi Thank Thepainfultruth!i am sourcing for other potential company!
17/11/2017 17:22
RainT Finally sell of Sas and realised the loss 25% :
Among the lesson learnt are :

1. Failed to follow cut off rules set by myself again. Lost of over 20% is already hard to recoup in short term

2. If company profit drop due to operating reason and not one off item for continuous 2 qtr , it is indication that the company prospect is deteriorating. Sas is this in this case, profit drop due to operating not one off item

3. Balance sheet wise,from net cash , now become net debt. Also the inventory and debtors amount are growing by quarter. This indicate something wrong with Sas management , cash is tie up in inventory and debtors.

4. Bad benchmark ratio , PE high due to recent loss , ROE low , and low dividend yield

5. News is not good always . Such as promoting Sas acqusition etc . But acq is bad company and for related parties. For me , related parties is OK, as long it is good company . But in Sas case it is not .

6. Big fund buying is not necessarily a good thing. We small shareholders will not know what is the behind motive EPF is buying even profit dropping. Maybe EPF want to include a education company in their portfolio or etc. Big fund can hold very long and Sas loss in drop share price only small thing to them . Don't follow blindy when big funds and directors buying / selling . Need study the reason behind.

SasbadI prospect, profit , balance sheet , ratio all is on the bad side !

Lesson learnt and move on to better company !
18/11/2017 00:24
Thepainfultruth Hi RainT, the textbook list for 2017 is not new anymore. These textbooks have been in use since 1st of Jan 2017.

I have the hardcopy with me. This forum doesn't allow us to attach a file, if not I could attach here.
18/11/2017 01:28
kevin008 very good company

https://m.facebook.com/story.php?story_fbid=2050965155123539&id=2017748508445204
19/11/2017 13:39
Thepainfultruth Kevin008, don't be deceived.

That's exactly what @powerinvestor said earlier. SAS is good at making news and announcement, but sustantially a loss making company.

Rather than thinking hard how to run the business well, it is thinking how to get more money from the investors to cover the loss. Particularly from cheap publicity like this.

And bear in mind that July this year SAS paid Law En Tzer RM 9,400,000 this year to purchase 30% share of sanjung unggul sdn bhd. And who is Law En Tzer? A family member of the Managing Director!

Such acquisition resulted in nett loss of SAS. Looks like a very bad businesses decision to me.

So at the end, what do we as investors get? big dividend? High share price? Completely the opposite
19/11/2017 14:38
rikimaru1 damn i bought this counter because i read some article saying EPF is not letting down this counter. Tempted & influence I bought this and now regret. It has down 20 % as of today and financial report is bad, revenue down 265 %. Revenue is the blood of the company and with this poor and bad company performance result, no point deluding myself saying this stock has potential. Sell and out. Bye Bye lousy company sasbadi
20/11/2017 10:20
kevin008 the boss dy said 2018 sure better than 2017...let wait and see
20/11/2017 10:37
powerinvestor @kevin008, i applaud your faith in the managing director of SAS. But i seriously hope that you are not relatad to him in any ways, because what you have said so far in this forum is heavily biased.

Do you know that listed companies don't mind paying handsome sums just so that they can be interviewed at investors forums, events etc. This is my point. The MD of SAS should be spending his time wisely to RUN THE COMPANY WELL, NOT TO BE THINKING & TRYING HARD TO GET MORE MONEY FROM THE INVESTORS.

Once the purpose of a company is skewed, things will come crumbling down.

Please look at the facts and figures kevin008. For example the cash flow, this company borrowed RM15,000,000 from bank last year, and despite that, it has a cash flow DEFICIT of more than RM 2 million. Meaning that if without the bank borrowing, this company should be having a CASH FLOW DEFICIT of more than RM 17,000,000 now.

Many of us have suffered from this company.
20/11/2017 13:22
kevin008 time will tell the truth.....if u got attend talk yesterday u will have some good info.
if i am related to MD..i no need to comment here dy haha
20/11/2017 14:13
apolloang ok I key in 70cts buy to show some support for u guys....hehe
20/11/2017 14:15
Thepainfultruth I'm reposting the honest bang wall account of RainT dated 18/11/2017.

RainT
Finally sell of Sas and realised the loss 25% :
Among the lesson learnt are :

1. Failed to follow cut off rules set by myself again. Lost of over 20% is already hard to recoup in short term

2. If company profit drop due to operating reason and not one off item for continuous 2 qtr , it is indication that the company prospect is deteriorating. Sas is this in this case, profit drop due to operating not one off item

3. Balance sheet wise,from net cash , now become net debt. Also the inventory and debtors amount are growing by quarter. This indicate something wrong with Sas management , cash is tie up in inventory and debtors.

4. Bad benchmark ratio , PE high due to recent loss , ROE low , and low dividend yield

5. News is not good always . Such as promoting Sas acqusition etc . But acq is bad company and for related parties. For me , related parties is OK, as long it is good company . But in Sas case it is not .

6. Big fund buying is not necessarily a good thing. We small shareholders will not know what is the behind motive EPF is buying even profit dropping. Maybe EPF want to include a education company in their portfolio or etc. Big fund can hold very long and Sas loss in drop share price only small thing to them . Don't follow blindy when big funds and directors buying / selling . Need study the reason behind.

SasbadI prospect, profit , balance sheet , ratio all is on the bad side !

Lesson learnt and move on to better company!
20/11/2017 14:54
rikimaru1 @kevin008 based on your comment, it seems you have obtain some insider info. why not use your obtained good info to make a case for yourself? Based on the disappointing financial health of sasbadi which is the most crucial variable to gauge this company'value, what variable/ factor is going to turn the company around into a profitable business?
MLM? digital product? personally i am not sold on digital education in malaysian context. Malaysian are slow to adapt trends and education system are plain lousy and primitive. Educators who are really with the trend will start teaching their children to computer programing , coding, machine learning for the coming era which by the way many free website are providing. With that point alone, i think sasbadi is a fail education company. Like those sharks in shark tank says : "For those reason, I'M OUT."
20/11/2017 15:25
rikimaru1 matha farker sell at 7.4 pending order, dropped at 0.725 , cancell and sell at this price pending order again, sold final at 0.720. loss of more than 20 % fuk lousy counter o0o sayonara forever
21/11/2017 12:09
Quan Fu Gan Rikimaru1 sell at 0.600 sure get through without pending
21/11/2017 16:22
powerinvestor By looking at the current depreciation rate of -25.26%, from RM0.95 on 26 Oct 2017 to RM0.71 today 21 Nov 2017, SAS will reach RM0.50 in another 11 days.

Don't be too confident Quan, in this week alone already 2 listed companies goodbye from the market.
21/11/2017 19:52
supersteph Bought this stock a while ago, didnt really have time to check on it, WHAT HAPPENED???!!! Why such a big drop!

I thought the MD said we just need to trust his management, keep the stock as our retirement fund??

Managemen of SAS, you owe us an explanation!
21/11/2017 20:23
jibbie Looks like selldown has stopped
22/11/2017 12:00
Quan Fu Gan It keep dropping currently it is below it’s intrinsic value which is 0.73. However, it estimate it to drop further looking at the increase in debt and decrease in profit
22/11/2017 12:11
Thepainfultruth Has it stopped?

Wait until people like supersteph sell hers. It will plung even further.

I'm wondering why so many people invested in this company without having first conducted a careful and thorough research.

I have looked at SAS MLM scheme, it uses peer influence to push it's product. Many of its sales rep are partimers, ranging from parents, post spm students to hawkers.

I mean, if you want to reach out to the masses, you have other ways to do so. Train your people well.

While I was waiting for my son another parent tried to sell SAS digital product to me. But when I told her about the online free resources, like khan Academy, she got a shock.

Why pay for something more inferior when you can get www.khanacademy.org for free?
22/11/2017 12:53
supersteph Any SAS rep here? marketing people?
22/11/2017 13:33
buyfreedom www.khanacademy.org This is so great! is it follow Malaysia education syllabus?
22/11/2017 15:24
jibbie depends if your child is private school or national school. looked through the website. some math and science topics are useful. but scope not wide enough for my kids (in national school). not sure what's the syllabus like in private schools.
22/11/2017 17:17
Quan Fu Gan I boughy this stock a year ago thinking it is good. Currently when I want to sell them off to further invest then I realize omfg it dropped so much
22/11/2017 20:37
supersteph Quan Fu Gan, what do you think, hold or sell now?
23/11/2017 10:03
Thepainfultruth It depends on your wisdom steph.

I predict a worse next Q result.

Just last month, the ministry of education is strictly enforcing the ruling of NO buku kerja for year 1 to year 3. This will lead to the disposal of ALL the reprinted buku kerja for all the subjects by SAS. News link:

https://www.google.com/amp/www.astroawani.com/berita-malaysia/guru-besar-guru-berdepan-tindakan-tegas-157613%3famp=1

From what I know, the usual practice is publishing company like SAS will get ready the buku kerja for 2018 as early as August and September in the preceding year. An abrupt announcement by the ministry of education followed by a stern warning to all the school heads will definitely dampen SAS buku kerja sales.

Also, bearing in mind that SAS has acquired sanjung unggul, which owns the malaya press, which is a SJKC buku kerja publisher.

Means now this announcement is a double blow for SAS.

Bad sales for SAS sdn bhd
Bad sales for the malaya press sdn bhd

I cant imagine how bad the effect will be. But looking at the current situation, 2 more days before school holidays, its not likely that the ministry will change its mind.
23/11/2017 13:46
JS135 Looks like someone is pressing it down
23/11/2017 15:04
buyfreedom Thepainfultruth did a very good job. Tq very much.
23/11/2017 15:35
uncle thepainfulltruth make sure no bias view, when it is bad make sure allocate some quota for the good time comes.reserve some for that.
23/11/2017 17:04


 

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