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671 comment(s). Last comment by Ammar Roshidy at Dec 26, 2020 8:58 AM
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babyinvester
25 posts

Posted by babyinvester > Sep 5, 2017 8:38 PM | Report Abuse

when will the proposal conducted?


RiceNoodle
36 posts

Posted by RiceNoodle > Sep 6, 2017 5:33 PM | Report Abuse

Accumulate now before it fly high


GGYY
49 posts

Posted by GGYY > Oct 4, 2017 3:12 PM | Report Abuse

Value estimation after restructure, CCM=1.40/3=0.46, 3unitCCM@3*1.40=RM4.20, 3units CCM will only get 1.219unit CCMDBIO, finally RM4.20(3unit CCM Before Restructure)-RM0.46(CCM Price After Restructure)-RM2.68(1.219*RM2.20CCMDBIO Market Price)=Loss (RM1.06)


moneytrail
74 posts

Posted by moneytrail > Oct 4, 2017 11:09 PM | Report Abuse

CCM consolidation 3 unit to 1 unit = RM4.20 (RM1.40 x 3)

Net price after restructure = RM4.20 - 2.20 = RM2 (per CCM share)

So assume u have 3 CCM share, after restructure, u will have 1 CCM share (RM2) 1 CCMDBIO (RM2.20) = RM4.20.

No gain no loss.


lostwayinvestor
105 posts

Posted by lostwayinvestor > Oct 13, 2017 4:21 PM | Report Abuse

when it will be consolidation?


Hua Joshuaayoung
234 posts

Posted by Hua Joshuaayoung > Oct 13, 2017 11:06 PM | Report Abuse

good time to collect... PP price 1.32... may drop to 1.3 and collect more.!


mancingbursa
4255 posts

Posted by mancingbursa > Oct 25, 2017 7:35 PM | Report Abuse

.


Coldman
18 posts

Posted by Coldman > Oct 26, 2017 12:45 PM | Report Abuse

1 day show?


Angel of KLSE 大马股仙
351 posts

Posted by Angel of KLSE 大马股仙 > Oct 26, 2017 1:11 PM | Report Abuse

Nope. this is one year show. today start.


MsfollowmeTeam
58 posts

Posted by MsfollowmeTeam > Oct 29, 2017 9:31 PM | Report Abuse

CCM will explode Big time... you'll regret if you didn't own some..


Hua Joshuaayoung
234 posts

Posted by Hua Joshuaayoung > Oct 30, 2017 10:53 PM | Report Abuse

fai fai annouce ex date lah... SIME also settle d...


Kevin Khoo
414 posts

Posted by Kevin Khoo > Nov 8, 2017 11:45 PM | Report Abuse

https://www.facebook.com/848454415314427/photos/a.854214074738461.1073741829.848454415314427/863200650506470/?type=3&theater


wolfofWS
18 posts

Posted by wolfofWS > Nov 15, 2017 8:04 PM | Report Abuse

CCM deleveraging should
1) unearth the earnings of chemicals and polymers divisions
2) reduce interest and admin cost by RM15-20mil per annum
3) potential boost dividend yield to 8.6-12.1% per annum
Our SOP derived fair value at RM2.10 provides a potential upside of 37.30%

Buy!


alpacino
375 posts

Posted by alpacino > Nov 25, 2017 12:18 PM | Report Abuse

Nice results back in the black.


moneytrail
74 posts

Posted by moneytrail > Nov 26, 2017 9:24 AM | Report Abuse

Waited too long. Time to fly.


alpacino
375 posts

Posted by alpacino > Dec 20, 2017 5:29 PM | Report Abuse

Wow! down so much first day of restructuring exercise. Terrible.


moneytrail
74 posts

Posted by moneytrail > Dec 20, 2017 5:31 PM | Report Abuse

Crap


alpacino
375 posts

Posted by alpacino > Dec 21, 2017 5:12 PM | Report Abuse

Wow ! good recovery up 19 sens.


ivan9511
3790 posts

Posted by ivan9511 > Dec 21, 2017 6:36 PM | Report Abuse

Yes wait too long now fly


Adrian Lam Jer-Han
2 posts

Posted by Adrian Lam Jer-Han > Dec 26, 2017 6:34 PM | Report Abuse

Hey guys, just wondering for those of us to bought CCM much earlier, just noticed my total share qty has been reduced. When will we be able to see CCMDBIO in our acc?


miss mmg
4 posts

Posted by miss mmg > Dec 26, 2017 9:37 PM | Report Abuse

Same here
Hopefully someone can enlighten the situation


alpacino
375 posts

Posted by alpacino > Dec 29, 2017 10:13 AM | Report Abuse

Free CCMDBIO shares have been credited in already today.


orangbaru77
107 posts

Posted by orangbaru77 > Jan 12, 2018 8:16 PM | Report Abuse

good job...Thanxs CCM


domisking
16 posts

Posted by domisking > Feb 27, 2018 7:21 PM | Report Abuse

amazing Q4 results out!!


alpacino
375 posts

Posted by alpacino > Feb 27, 2018 10:05 PM | Report Abuse

Good results after restructuring. Well done CCM.


joeshare
535 posts

Posted by joeshare > Jun 28, 2018 4:02 PM | Report Abuse

Holland.. is it coz of china will dump their product to se asia due to tariff?


cricketlast
119 posts

Posted by cricketlast > Jul 6, 2018 4:06 PM | Report Abuse

Hi joeshare,

Went through the full list of china products targeted by US tariff. None of the CCM products are in the list. The targeted products are actually from high tech industries mainly from advanced information technology, robotics, aircraft, new energy vehicles, pharmaceuticals, electric power equipment, advanced materials, agricultural machinery, shipbuilding and marine engineering and advanced rail equipment industries.

Refer to link below (there is a direct link to the full 1,300 products targeted by US).

https://www.straitstimes.com/asia/east-asia/us-publishes-list-of-1300-chinese-goods-to-be-targeted-by-tariffs

Thanks.


joeshare
535 posts

Posted by joeshare > Jul 18, 2018 9:48 AM | Report Abuse

thank you cricket


keong90
32 posts

Posted by keong90 > Aug 14, 2018 4:10 PM | Report Abuse

fundamental looks acceptable, except the debt. why is it dropping fiercely?


cricketlast
119 posts

Posted by cricketlast > Aug 15, 2018 4:19 PM | Report Abuse

Hi Keong90,

I think investors are just worried on the trade war between China and US. I believe the impact of the trade war for the company's main product which is Caustic soda will be limited to the US, China and and in particular the Malaysia markets. Import of caustic soda from China to the US is actually very limited.

For the Malaysia market in particular, demand for caustic soda is expected to grow by another 100,000 MT in 2019 once the Rapid Refinery starts to operate. Currently the Malaysian market for caustic soda is around 430,000 MT of which 290,000 MT is being sourced by local suppliers (mainly CCM and Malay Sino Chemical) while the rest by import.

This show there is a supply demand gap for our market. With the start of Rapid this will actually be an advantage to CCM in particular as it already has a facility plant in Pasir Gudang (which they currently in the process of expanding to prepare the sudden expected demand surge from Rapid in 2019). The other main caustic soda player, Malay Sino has 2 plants located in Lahat (Perak) and Kemaman (Terengganu).

Investor will need to faced the volatility at the moment due to the trade war rhetoric between China and US.

2Q18 result is expected to show improvement vs 2Q17 result as have shown by other Chemical company in malaysia and globally.

Debt will actually significantly reduce in 4Q18 via the proceeds of disposal of 3 parcel of land in Shah Alam to Global Vision for RM190mil and the disposal of Pangen Biotech to CCM Diopharma for RM59.2mil. Both disposal was completed back in 2Q18.

Assuming no other debt to be raised, net debt should fall to around 40-50mil only which translate to a net gearing of 0.16x.

Feel free to comment. Appreciate any other views or input on this company.

Thanks.


cricketlast
119 posts

Posted by cricketlast > Aug 15, 2018 4:45 PM | Report Abuse

Hi Keong,

Another thing that i would like to highlight is the Cash Flow that the company generated from operation in 1Q18 which amounts to RM26mil. Hard to find companies with a low valuation and generating positive cash flow at the moment. Hope they can sustained this and grow the cash flow even further in 2019.

For me it is currently the cheapest company that an investor could buy into for an exposure to the Rapid project and also the rubber glove industry (they are one of the supplier of calcium nitrate under the Polymer division to the gloves industry). Basically an increase of capacity by the glove industries actually bodes really well for companies like CCM (there are other companies as well but CCM for me is the cheapest at the moment). They also supply liquid chlorine to the glove industries.

Assuming a PAT of RM40mil (this is actually a more conservative projection. The CEO expect the PAT to actually double in FY 2019 which should be around RM50mil), current valuation is only 6.7x PE.

Average forward PAT for Gloves company is around 20xPE. Other malaysian chemical companies is currently trading at double digit PE.

Thanks.


wolfofWS
18 posts

Posted by wolfofWS > Aug 15, 2018 9:20 PM | Report Abuse

this is the only undervalue stock i see in bursa now

hope the seller can throw it down more


keong90
32 posts

Posted by keong90 > Aug 16, 2018 10:23 AM | Report Abuse

ty for the enlightening comments


L2
604 posts

Posted by L2 > Aug 16, 2018 10:34 AM | Report Abuse

good info, cricketlast. tqvm. soon a hidden gem no longer.


keong90
32 posts

Posted by keong90 > Aug 16, 2018 11:51 AM | Report Abuse

wait for the result


Jasper Coo
2178 posts

Posted by Jasper Coo > Aug 16, 2018 3:12 PM | Report Abuse

This quarter is making very good profits, the best ever!


wolfofWS
18 posts

Posted by wolfofWS > Aug 17, 2018 10:07 PM | Report Abuse

@cricketlast what is ur tp for this company?


cricketlast
119 posts

Posted by cricketlast > Aug 20, 2018 12:33 PM | Report Abuse

Hi Wolf,

Sorry late reply. Had a busy weekend this time round.

Currently, in the malaysia market there is no direct comparable for CCM. The other main caustic soda supplier is Malay Sino Chemical Sdn Bhd which is privately held by Batu Kawan Berhad (however, this company's earning is mainly derive by its plantation division, so basically it's actually plantation company).

The closest comparable that we have at the moment are the Malaysian public listed chemical related companies such as Luxchem (PE 15.1x), Pchem (17.4x), Lctitan (10.1x), Nylex (6.9x), Samchem (9.9x) and KGB (14.7x). The average PE multiples of these companies are 12.4x.

Using the industry average PE of 12.4 x and FY19 PAT target of RM40mil this translate to a market cap of RM496mil or RM 2.97/ share.

Anyway, the current valuation now is still undemanding if compared to other listed chemical companies. I just don't see why the market needs to put a big discount on CCM given the potential growth that it can reap once the RAPID refinery in Pasir Gudang starts operation in 2019 (CCM main plant is also located in Pasir Gudang. Malay Sino, the other main supplier of caustic soda has plants in Kemaman and Lahat).

Feel free to comment. Appreciate the any input that you have on this company.


Thanks.


HoselGoh
188 posts

Posted by HoselGoh > Aug 22, 2018 2:00 PM | Report Abuse

KUALA LUMPUR: The chemical manufacturing unit of Petroliam Nasional Bhd (Petronas) is actively looking to acquire companies to expand its specialty chemical business, its chief executive officer said.
Read more at https://www.thestar.com.my/business/business-news/2018/08/22/petchem-eyes-acquisitions-to-boost-specialty-business/#0wg1lPAtdxpRmfkY.99

CCM will be in focused this week.


cricketlast
119 posts

Posted by cricketlast > Aug 28, 2018 9:45 PM | Report Abuse

Hi guys,

I need to highlight certain things for the 2nd quarter 2018 that was just reported earlier.

The PAT of RM5.3 mil is actually inclusive of a RM4.1mil gain on disposal of Shah Alam lands as well as the Real Property Gain Tax that are associated to the disposal amounting to RM9.3mil.

If we were to take both of these non recurring items out, the PAT would actually amount to RM10.5mil which is not that far from what was recorded in the 1st quarter of 2018. Both the Chemical and Polymer divisions have shown improvement in the revenue as well as profit before tax for the 2nd quarter.

Please refer to Note A9: Segment Reporting located in page 9 of the financial report (Below are the extract for continuing ops. I have excluded the results of the pharmaceutical division, which is now actually under CCM Duopharma)

Revenue 2Q18 vs 2Q17

Chemical : RM 76.65m vs RM 65.14m

Polymer : RM 23.04m vs RM 19.48m

Others : (RM 0.67m) vs (RM 0.20m)

Total: RM 99.01m vs RM 84.42m


PBT 2Q18 vs 2Q17

Chemical: RM 12.63m vs RM 9.94m

Polymer: RM 5.10m vs RM 4.59m

Others : (RM1.36m) vs (RM 11.49m)

Total : RM 16.37m vs RM 3.04m

As you can see, both the divisions have actually reported better revenue and PBT compared to last year. Hopefully this will continue in the second half of the year as well.

Appreciate any input on the matter especially if i had missed any other information that might be important.

Best regards


L2
604 posts

Posted by L2 > Aug 29, 2018 9:13 AM | Report Abuse

Summary data in portals typically cannot do justice in a comparative where a whole business segment/division has been hived off. Hence deep red where it should be very green for CCM for Rev, PBT, PAT. The gem is still hidden.

Net Profit 2Q18 vs 2Q17, from page 1 of the QR:

PAT 2Q17 0.288m (including CCM Duopharma's 9.632m = 9.920m)

PAT 2Q18 5.298m (without pharma contribution now)

Earnings growth has continued.


L2
604 posts

Posted by L2 > Aug 29, 2018 10:20 AM | Report Abuse

Likewise 3Q18, based on current positivity in consecutive quarters, should surpass 3Q17's Revenue of 88.118m and PAT 1.150m (not the 8.199m which includes pharma's 7.049m). Ditto for 4Q18 vs 4Q17.


Jordan Khoo
1894 posts

Posted by Jordan Khoo > Aug 29, 2018 10:38 AM | Report Abuse

Good show ! Very strong... will move tomorrow and profit incoming


alpacino
375 posts

Posted by alpacino > Aug 29, 2018 10:43 AM | Report Abuse

@cricketlast - agreed. RM2 just a matter of time.


alpacino
375 posts

Posted by alpacino > Aug 29, 2018 10:45 AM | Report Abuse

@cricketlast - what is your take on CCMDBIO, did you. invest?


cricketlast
119 posts

Posted by cricketlast > Aug 29, 2018 2:41 PM | Report Abuse

Hi alpacino,

No i did not invest in CCMDBIO. For the health manufacturer sector i prefer AHEALTH or Apex healthcare.

AHEALTh valuation is currently at 17.9x 12 months rolling Earning vs CCMD 19.5xPE.

The growth story for APEX are :

1) New oral dosage plant (to be commission by 4Q18) which will double the oral dosage capacity.

2) Potential penetration into the Europe drug market given the company's recent EU good manufacturing practice certificate award early this year.

3) Expiry of the current govt concession for generic drugs by Nov 2019. Currently APEX revenue from this segment only represent 5% of total group rev. Most of the rev actually comes from the private sectors (private hospitals etc)

My FY19 PAT target is around RM60mil which values the company at around 15.2x PE.

Please take not that the company has basically ZERO debt (at least as at 30 June 2018).

Regards.


alpacino
375 posts

Posted by alpacino > Aug 29, 2018 2:57 PM | Report Abuse

@cricketlast - much obliged.


trulyinvest
2384 posts

Posted by trulyinvest > Aug 30, 2018 9:33 AM | Report Abuse

so it is a good result? even yoy drop bcos of absence of ccmdbio?


cricketlast
119 posts

Posted by cricketlast > Aug 31, 2018 8:01 AM | Report Abuse

Hi trulyinvest,

The drop is actually because of higher tax which relates to the RPGT for the disposal of Shah Alam land. The RPGT was RM9.3mil (which is non recurring).

If you take that out, PAT would actually show growth (even if you include CCMDBIO profit in 2Q17).

PAT excluding non recurring items (gain on disposal of land & RPGT on disposal of land) would have been RM10.5mil.

Regards


trulyinvest
2384 posts

Posted by trulyinvest > Aug 31, 2018 8:27 AM | Report Abuse

Wat is d best px ti enter? Market seems very bad

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