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118 comment(s). Last comment by Sslee at Jan 19, 2019 7:06 PM
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Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥
9031 posts

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > Jan 19, 2019 12:20 PM | Report Abuse

Can someone do a comparative study of these 4 growing companies in Bursa:

Nestle
QL
Topglove
Hartalega

This study should be both educational and fun, and may even be rewarding too.


stockraider
15482 posts

Posted by stockraider > Jan 19, 2019 12:27 PM | Report Abuse

These stocks are old hags & their success are already price in lah....!!

Just look for future growth stock, don waste time always looking at the rear mirror, telling us how good, how good loh ??

If u want to look at the rear mirror maybe can engage a Phd student to do an academic study mah...!!


Posted by 3iii > Jan 19, 2019 12:20 PM | Report Abuse

Can someone do a comparative study of these 4 growing companies in Bursa:

Nestle
QL
Topglove
Hartalega

This study should be both educational and fun, and may even be rewarding too.


Haw Liao
1152 posts

Posted by Haw Liao > Jan 19, 2019 12:32 PM | Report Abuse

nestle not many can invest lah...over priced just like gold

QL everyday u eat chicken and egg and seafood won't make the share price go higher

glove stocks danger stock...wait for clear rebound

stock market is about perception, price and value can be made up by market makers


Haw Liao
1152 posts

Posted by Haw Liao > Jan 19, 2019 12:37 PM | Report Abuse

just before glove stock crashed, they say dividend defensive stock lol then they say overvalued crash until mother father no eyes see...

controlled by market makers


Haw Liao
1152 posts

Posted by Haw Liao > Jan 19, 2019 12:44 PM | Report Abuse

when u talk like professor in stock market, u are falling prey to the stock operators...

because they can read your next move...

learn to be the hunter, not the hunted


Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥
9031 posts

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > Jan 19, 2019 12:50 PM | Report Abuse

How do you value QL?

Value of an asset is the discounted value of all its future cash flows.

DCF is a concept I carry in my head but rarely dwell in great detail when I value my companies. The reason being DCF can be easily manipulated to fit any value you have in your mind.

It is better to understand the business of the company. Know its operations well. How are its revenues generated? How are its earnings generated? Are the earnings of high quality, that is, translating into a lot of cash from operations? Are these revenues, earnings and cash from operations growing? How fast or slow are these? Are growth achieved through increase in sales or increase in efficiency (profit margin expansion)? What are the capital expenditures in relation to its cash generated from operations or earnings? Does the company need a lot of capital expenditure to maintain its operations or growth? What are the new areas of growth? Organic or through acquisition? Is growth increasing the company's value or destroying company's value?




2018 Annual Report of QL


CASH FLOW STATEMENT (m)

CFO
PBT 255.3
D&A 123.7
FFO 411.5
NET CFO 298.6

CFI
CAPEX 339

CFF
DIVIDENDS PAID 90.5
INTEREST PAID 34
INCREASE IN LOANS 169

DPS 4.25



INCOME STATEMENT (m)

REVENUE 3263
GROSS PROFIT 605.6
OTHER INCOME 24.3
EBIT 286
INTEREST (48.6)
INT INC 7.9
PBT 255.3
PAT 215.7

EPS 13 SEN



BALANCE SHEET (m)

ASSETS
NCA 2073
CA 1252
TA 3326


LIABILITIES
NCL 646
CL 788.7
TL 788.7

EQ 1890

TEQ & TL 3326



CASH 304
STL 466
LTL 548

AR 384
AP 283

INTANGIBLE ASSETS 10.6

DEFERRED TAX 91


NAV 1.16

NO OF SHARES OUTSTANDING 1622.4 m


Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥
9031 posts

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > Jan 19, 2019 1:04 PM | Report Abuse

Segmental businesses of QL

4 segments:

MPM (Marine Products Manufacturing)
ILF (Integrated Livestock Farming)
POA (Palm Oil Activities)
Family Mart (New)


2018 Annual Report
(m)

MPM
Rev 905
Profit 124.1
Assets 1076.6
Liabilities 258.3
Equity 818.3
Finance cost (6)

ILF
Reve 1971
Profit 103
Assets 1762.5
Liabilities 1017.7
Equity 744.8
Finance cost (36.7)

POA
Rev 387
Profit 27.9
Assets 486.9
Liabilities 159
Equity 327.9
Finance cost (6)



Revenues by countries

Malaysia 2601 (2018) 2446 (2017)
Indonesia 560.4 (2018) 471 (2017)
Vietnam 93.6 (2018) 90.5 (2017)
Others (China & Singapore) 7.7 (2018) 4.9 (2017)


lazycat
883 posts

Posted by lazycat > Jan 19, 2019 1:06 PM | Report Abuse

pos used to trade above PE 50
gdex above PE 100

look at this 2 stocks price now


Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥
9031 posts

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > Jan 19, 2019 1:27 PM | Report Abuse

The shareholdings distribution of QL is interesting:

less than 100 (0%)
274

101 to 1000 (0.03%)
843

1001 to 10,000 (0.82%)
2882

10,001 to 100,000 (4.09%)
2093

100,001 to 5% (41.39%)
604

5%+ (53.67%)
2


Total no of shareholders: 6698



The number of shareholders with 100,001 + shares in QL is
606 (collectively own 95.06%)


Breakdown
2 own 53.67%
28 own 21.07%
576 own 20.32%

6092 own 4.94%


Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥
9031 posts

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > Jan 19, 2019 1:34 PM | Report Abuse

Therefore, 9.1% of shareholders own 95.06% of QL.

This is not unexpected. It is well known that 1% of the population owns 50% of the wealth, the next 9% of the population owns the next 40%. The majority (90%) owns less than 10% of the wealth.


Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥
9031 posts

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > Jan 19, 2019 1:43 PM | Report Abuse

At price of 6.87 per share, QL has a market cap of 11.146 billion.

Net earnings in 2018 was 215.7 m
Net CFO was 298.6 m
Capex was 339 m
Increase in debt was 169 m
Dividend 90.5 m


It is a good company, not a great company (by my definition).
It is also trading at a high valuation.

For these reasons, I shall not be buying this stock today. It will be in my radar screen though. I will spend a bit more time to understand its new business, Family Mart.


Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥
9031 posts

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > Jan 19, 2019 1:47 PM | Report Abuse

I group Nestle, DLady and perhaps, Harta in a group of their own (great companies).

I will put QL and Topglove in the same group (good companies).


http://myinvestingnotes.blogspot.com/2010/03/the-three-gs-of-buffett-great-good-and.html


Haw Liao
1152 posts

Posted by Haw Liao > Jan 19, 2019 2:02 PM | Report Abuse

family mart too many competition from mushrooming cheaper convenience store...

the convenience store concept only works well in high income country because selling overpriced items...

implementation at the wrong timing


Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥
9031 posts

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > Jan 19, 2019 3:05 PM | Report Abuse

>>>>Haw Liao nestle not many can invest lah...over priced just like gold

QL everyday u eat chicken and egg and seafood won't make the share price go higher

glove stocks danger stock...wait for clear rebound

stock market is about perception, price and value can be made up by market makers
19/01/2019 12:32<<<<


Haw Liao


There are so many flaws in your statements.

Ignoring Nestle for the moment. Many think like you. This stock at RM 20 per share is overpriced. How many can afford to buy this? The corollary is a 20 sen per share stock is affordable.

This thinking is flaw. A RM 20 per share stock maybe the most undervalued and the 20 sen per share stock maybe most overvalued. (Think this true).

What is the difference between buying 10,000 shares of 20 sen per share stock and 100 shares of a $20 per share stock? The amount you pay is the same, RM 2000. To say that you cannot afford the $20 per share stock is not true.

Your concern is whether you are investing well. Is the stock you choose to buy of high quality (there is a lot of margin of safety in quality stocks, provided you do not overpay for it)? Then make sure you pay a price where your upside reward >>> downside risk and it meets your desired rate of return with a high degree of probability.


The greatest enemy of your investing is yourself. The others can be ignored but you will need to master yourself, your own worst enemy! :-)

Good luck to you in your education and investing.


Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥
9031 posts

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > Jan 19, 2019 3:06 PM | Report Abuse

>>>Haw Liao just before glove stock crashed, they say dividend defensive stock lol then they say overvalued crash until mother father no eyes see...

controlled by market makers
19/01/2019 12:37<<<<


Do you have in place a good strategy to take advantage of the market fluctuations? Do not fall folly to it.


Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥
9031 posts

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > Jan 19, 2019 3:07 PM | Report Abuse

>>>>Haw Liao when u talk like professor in stock market, u are falling prey to the stock operators...

because they can read your next move...

learn to be the hunter, not the hunted
19/01/2019 12:44<<<<


These operators do not fancy the stocks I like.


stockraider
15482 posts

Posted by stockraider > Jan 19, 2019 3:08 PM | Report Abuse

The best strategy is to take profit & put monies in deep margin of safety stock like insas loh...!!

Posted by 3iii > Jan 19, 2019 03:06 PM | Report Abuse

>>>Haw Liao just before glove stock crashed, they say dividend defensive stock lol then they say overvalued crash until mother father no eyes see...

controlled by market makers
19/01/2019 12:37<<<<


Do you have in place a good strategy to take advantage of the market fluctuations? Do not fall folly to it.


Sslee
3197 posts

Posted by Sslee > Jan 19, 2019 7:06 PM | Report Abuse

Dear all,
My response to Mr. Philip: THE PERCEPTION OF P/E
Definition of High PE or growth trap: Growth, again, has little meaning without any reference to the future return of the business. Growth is only good if it is above the cost of capital.
https://klse.i3investor.com/blogs/Sslee_blog/190733.jsp

Thank you

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