For many construction is the only sector rated positive for year 2015. Big names like Gamuda and IJM Corp are always mentioned and people have forgotten about few well run mid cap players like Mitrajaya and Gadang. Mitrajaya have had fantastic run after it was covered by HLIB recently and saw EPF emerged as substantial shareholders few days ago. Will Gadang be the next star performer?

Mitrajaya FYE2014 (31/12/14)
PBT: 72m EPS: 14c PE:12 Orderbook: 1.9B

Gadang FYE2014 (31/5/2014)
PBT: 63m EPS: 20c PE: 7 Orderbook: 1.3B

Both company actually share similar financial performance, having ROE of around 13%, except for Gadang has better cash flow compared to Mitra. Based on historical data Gadang seems to be undervalued already if Mitra's current valuation is anything to go by.

In recent interview Gadang CFO said target PBT for FYE2015 (31/5/15) is 75m. However up to Q2 YTD PBT was at 25m only (based on previous year number, last two quarters are always better).

Certainly Gadang is the stock to look out for :)

What it needs now is IB's coverage. The fundamental is good and steady, hopefully it will reach its real value soon.

The construction division reported good results. SunCon should be able to list at top range price.

Yea should be earlier, but I have no idea by when.

TP 1.48 of 21x 2016 P/E? Seems familiar to me. (Hint: Search CIMB report on Cuscapi)

Friendly advice to any potential investor, (no intention to pour cold water / you may call me sour grape), before you invest, please think about this:-

- Is IFCA's accounting software 'special'?
- Do you think no one other than IFCA can offer accounting software? Copyrighted / patented?

To be honest I know nothing about accounting software, but I do know of one thing - the most innovative / hard to beat tech firm - Apple Inc., is traded at actual PE less than 20. IFCA is traded at actual PE >50.

Awesome :D

looking good :) 14c div coming?

The spinoff of SunCon is not fixed yet. News had it on coming June. Special div and free SunCon shares (1:10) will only be given out by then.

Unlikely to reach rm5 in near term given the challenging outlook. However buying at current price indeed could offer 10%-20% upside within few months with minimum risk. Might be a good option in current volatile market.

EXPOSED! Pro-Jho Low blogger behind attacks on Dr M, Nazir and Edge owner Tong

http://www.theedgemarkets.com/en/article/exposed-pro-jho-low-blogger-behind-attacks-dr-m-nazir-and-edge-owner-tong

Perhaps someone want to placate the new CEO of 1MDB.

Unpolished gem starting to shine :)

It's not only about appreciation of USD, it's the 'growth story' of US that really matter. By the way, last 3 months of a year usually record highest sales due to festive period. Quarterly result next month indeed is interesting :)

JayC, the dividend declared was 1 cent, it is around 1% (0.01/0.89). However, the new issue RPS has fixed 4% interest rate, equivalent to 4 cents each year, payable in half yearly.

jc138, 11000/5= RM2200

Probability, no effect on earnings upon signing S&P. Revenue will be derived based on percantage of completion from development of the property.

Wow.. Forcasted profit CAGR of 40% for next three years!

I agree with you YiStock. Cash flow is one of the important criteria to assess a company. How Latitude fares on this? Cash flow from operating activities was at rm36m (2012), rm52m (2013), and rm82m (2014). And its account receivables are always stay less than 10% of the revenue. Isn't it equally good?

I like the point highlighted by lbkeat where they paid moderately (total only RM2m for 6 ppl!) to their directors. It's implying that the directors will reward themselves (the EDs are also major shareholders) by growing the worth of the company, not through shortcut. Who else does this beside Warren Buffet?

Whether this is a speculative counter or not, it depends on how one views it. We can never prevent speculator from coming in. Latitude price does fluactuate a lot especially during market correction due to its low liquidity. But, why trade and not INVEST?

If you measure this company using dividend yield, you have probably missed out the jungle for the tree. Net profit had grown from 9m to 55m, EPS from 10c to 56c in 3 years, at CAGR of 82% and 77% respectively. Low dividend payout is reasonable judging from the just concluded restructuring (to enhance EPS) and on going proposed acquistion.

The key point to look for should be how the management gonna to take advantage on US economic recovery - can Latitude grow 80% again?

I can't wait to see Q1FY15 result next month :D

New expansion in the pipeline :)

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1758781

It doesn't matter who was behind it, the beauty of the stock simply irresistible:

2014 2013 2012
PBT 55m 24m 9m
Cash 123m 96m 51m
EPS 56c 25c 10c
DPS ??? 6.3c 3c

Cash increase tremendously despite already spent 28m on restructuring (enhance EPS) and 10m on expansion of capacity (higher revenue)!

There is no reason not to expect any dividend when November come. 25% payout like previous year will bring us at least 14c.

nothing is on media yet. lets wait for the surprises :)

yes the earning did not improved as much as expected due to the riot, but it still have positive growth compared to last year, dont be so sad chshzhd :)

2014 2013 2014 2013
1 Revenue 142,759 124,417 651,025 493,687
2 Profit/(loss) before tax 10,283 9,352 71,867 35,658
3 Profit/(loss) for the period 8,631 8,230 64,333 32,046
4 Profit/(loss) attributable to ordinary
equity holders of the parent 8,681 5,949 55,008 24,366
5 Basic earnings/(loss)
per share (Subunit) 8.93 6.12 56.59 25.07

Full year earning has doubled, the share price has also doubled (from RM1+ to RM3+) within the year, seasonally 2H is stronger, Im remained optimistic :)

Project is in the pipeline, with about 40c cash per share and PE of less than 5, why sell in this manner?

Lii Hen reported good quarter result (US contributed 80% of its revenue). I think Latitude (>90% export to US) should not be far behind. Enjoy the ride :)

People think the management is stingy because referring to today price of RM3+. Please take note that the share price was below RM1 when they declare 3cents and 6cents of dividend in the past. The dividend yield was reasonable back then.

Actually the management had already rewarded shareholders via buying back the remaining shares of its subsidiaries. All earning will be all accrued to Malaysia holding from January onwards rather than share with Singapore. Now the onwner has only Latitude Bhd, they would have to focus on it and so reward them also. I think the propect is good, no worry :)

IMO many have overlooked the restructuring done in January. LTB have 100% of the business now compared to last year. Highly likely EPS will be higher than previous quarters, even after factor in the 8 days of lost production.

CEO2333, Im sorry to hear that you have incurred losses. one can always argue whether buying share is like gambling. investment or trading.

IMO, Norway's sovereign fund will not subscribe to its right issue if Daya is a joke. In construction industry, there is always risk of job not well done. the most important thing is not to lose its reputation or credibility. look at how Muhibbah had recovered after 2 years. if you are really an investor, please don't be panic and stay away from monitoring the share price every second.

"Games are won by players who focus on the playing field, not by those whose eyes are glued to the scoreboard" - Warren Buffett.

I hope it helps :)

I don't think the volume came because of special div. There was news last year that says Salcon want to be make its construction division the biggest revenue contributor. And Ecoworld is launching RM5b worth of project in May. Maybe Salcon could get a share of the RM5b by being main contractor?

"For the quarter under review, Revenue and Profit before tax have risen year-on-year by RM26.5 million (12.8%) and by RM12.1 million (44.4%) respectively. The increase in Revenue came mostly from the Brands Outlet stores which had recorded high same store sales growth of more than 30% for the quarter concerned. Consistent focus in developing merchandise that delivered value from the standpoint of both design and price has continued to drive growth for the Brands Outlet business."

A lot analysts have misjudged Padini. Padini is no longer Padini but Padini + Brands Outlet. At difficult time like this, Brands Outlet (target on mass market, medium to lower income group) will shine.

Things are looking up!

Inari - http://www.theedgemalaysia.com/business-news/276469-inaris-2hfy14-to-be-stronger-says-affin-ib-research-.html

Ho Hup - http://www.theedgemalaysia.com/highlights/276467-highlight-ho-hup-clears-legal-hurdles.html

Quarterly result has to be released within 2 months from closing date. Padini has to disclose before end of Feb 2014.

For momentum trade only: IMO current situation is similar to last Nov 13 where Padini had free fall due to perceived intense competition and uncertain consumer spending. However, it had strongly rebound (within 2 weeks) after 'positive surprise' of first quarter announcement couple with higher DPS. Opportunity knockings?

No doubt store like H&M and Uniqlo will eat into Padini's market share. However do remember that H&M and Uniqlo don't exist in all place. IMO the management had done a great job by expanding to outside Klang Valley mainly through Brands Outlet. I think people have underestimate the growth rate from second tier cities. We shall see...

Current 'push up' exercise should be a prelude to corporate exercise. Scomies have to address the public shareholdings by 11 March 2014. Couple with RSC contract (if awarded) then to break RM1 is not too far away.

RM1.3m queue at 1.20 suddenly...

Most probably due to LTH is quitting. Should be done soon.

Hope the trend will reverse after Q3 result. It should have recorded RM200m - 300m gain arising from disposal of dragon hill

Finally...

http://www.theedgemalaysia.com/highlights/263075-highlight-kencana-dayang-petra-units-3-others-win-petronas-rm10b-jobs.html

More people will start to realise its potential soon.

http://www.theedgemalaysia.com/business-news/262586-jf-apex-research-starts-coverage-on-gadang-target-price-rm143-.html

They strike oil!
http://www.theedgemalaysia.com/business-news/262100-petronas-strikes-oil-at-balai-field-.html

The reason behind the recent surge.

http://www.theedgemalaysia.com/business-news/262100-petronas-strikes-oil-at-balai-field-.html

A lot people would have missed out this point.

Companies here like to buy back their own shares when market has turned against them. Most of the time their intention is just to cushion the fall.

In Daya case, I dont think its a worry sign. Demand is out there right now. They are right to sell shares for cash. After all they need cash to push for the expansion plan. They need cash to the extent that they have to re-award a construction works few days back.

So dont you think its a good move?

If I were to pronounce ur name more than 1000 times in a day, can I prevent you from using ur name?

Wait it to reveal why directors cum substantial shareholders were sacked suddenly.

"Norway has excluded five companies from the investments of the nation’s sovereign wealth fund, the world’s largest, for taking part in activities that damage the environment OR for being linked to child labour, Bloomberg reported."

Local timber firms WTK Holdings Bhd and Ta Ann Holdings Bhd were excluded alongside China’s Zijin Mining Group and Peru’s Volcan Cia Minera SAA.

This was done on the basis that their activities risk causing severe damage to the environment, Bloomberg said citing a statement by the Oslo-based ministry.

India’s Zuari Agro Chemicals Ltd was also excluded “based on an assessment of the risk of contributing to the worst forms of child labour,” it said.

From these writing, WTK TAANN - their activities risk causing severe damage to the environment
Zuari Agro - contributing to child labour.

Lets see how WTK respond. If they are hiring child labour, they can be sued under our own labour law.

Based on AR 2012, Norway fund is not listed as top 30 shareholdings. I believe their investment is insignificant as WTK market cap is not large enuf to be invested by any of these large foreign funds.

WTK and TA ANN were excluded because they are timber related, not because of child labour.

This news would not affect the company at all. The western country like to ban this and that on 'ethical ground' or what not, just like palm oil industry. No surprise.

Nowadays, company share buy back does not mean it is good anymore. If the majority shareholder disposing way below the 'reported' NTA (they are selling even lower than CASH PER SHARE!), no matter how great the figure look like, one should avoid. There are plenty good shares trading below NTA with proven track record, why take unnecessary risk?

the latest quarter looks good indeed. their restructuring exercise was successful and Eurozone showing SIGN of improving (better to wait few more months for firmer data). However, there are still unexplained question (very important):

1. Why would he keep dumping shares for the past one year regardless of price? Is he too rich?

2. What is happening to the cooperation with CSL? CSL has divested some also recently (less than one year after share swap!)

A falling knife worth catching.

Agree to the average down strategy. but do it only if one has enough buffer. This stock needs 2-3 more months to ripe.

Besides the work in progress merger mentioned by viper88, I think investor has overlooked the recent land acquisition & JV at Rawang.

Rawang: The Next Puchong?
http://www.prolintas.com.my/2013/07/up-and-coming-town-accessible-via-gce/rawang-next-puchong/