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1,872 comment(s). Last comment by moven00 at Mar 17, 2020 9:26 AM
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Fabien "The Efficient Capital Allocater"
1403 posts

Posted by Fabien "The Efficient Capital Allocater" > Nov 20, 2019 3:10 PM | Report Abuse

It's good news for YSP too.

From CIMB report:
We expect YSP to record stronger 4Q19 results, in tandem with higher drug demand
from government medical facilities. This is premised on: i) 4Q being a seasonally stronger
period, and ii) government facilities increasing drug orders with its suppliers due to earlier
concerns of a disruption to medical supply on expectations that the government would
not renew Pharmaniaga’s concession agreement (CA) to provide logistics and distribution
services for drugs under approved product purchase list (APPL). It has since been
announced that Pharmaniaga has obtained two extensions for services under the CA


Fabien "The Efficient Capital Allocater"
1403 posts

Posted by Fabien "The Efficient Capital Allocater" > Nov 20, 2019 3:12 PM | Report Abuse

Next year EPS should normalise, back to growth trajectory.

CIMB TP 3.65:
We maintain our Add call with a higher TP of RM3.65 (12.3x CY21F P/E) as we roll over
our valuation year to end-2020F. We continue to like YSP for: i) its attractive valuation of
9.6x CY21 P/E (22% discount to its 5-year historical mean of 12.3x), ii) its net cash
position of RM47.7m (as at end-3Q19), and iii) the inelastic demand for drugs. Potential
re-rating catalysts are stronger-than-expected sales locally and regionally. Downside
risks to our call: decline in sales volume and continued losses in its Vietnam operations.


RainT
5983 posts

Posted by RainT > Nov 20, 2019 11:36 PM | Report Abuse

4Q is seasonally strong qtr??

if u see past sales and profit of Q4 it is not the stronger one lo


RainT
5983 posts

Posted by RainT > Nov 20, 2019 11:37 PM | Report Abuse

also the PHARMA story not affect to YSPSAH lo

both is different biz even both also do medicine

so u can see the margin of YSPSAH is much higher than PHARMA lo


shawn88
151 posts

Posted by shawn88 > Nov 21, 2019 1:24 PM | Report Abuse

YSP Southeast Asia Holding Bhd
(Nov 20, RM2.50)
Maintain buy with an unchanged target price (TP) of RM3: Despite recording a weaker third quarter of financial year 2019 (3QFY19) core net profit (CNP) (-9% year-on-year [y-o-y]), YSP Southeast Asia Holding Bhd’s y-o-y earnings contraction has narrowed, while earnings were actually stronger on a quarter-on-quarter (q-o-q) basis. This was despite 3Q typically being a seasonally weak quarter. This reaffirms our view that YSP is on the road to recovery as its new equipment is running at more efficient rates. We maintain our earnings forecasts and reiterate our “buy” call on YSP with an unchanged TP of RM3.


YSP reported a flattish revenue of RM74 million (+1% y-o-y) for 3QFY19 as the growth in domestic sales (+3% y-o-y) was offset by soft overseas sales (-4% y-o-y). While its CNP continued to decline by 9% y-o-y, we think the results are showing signs of recovery as the y-o-y earnings contraction narrowed to only -9% for 3QFY19 from an average -36% for the past three consecutive quarters, despite the unfavourable foreign exchange rate in 3Q19 (3Q18: RM4.09/US$ versus 3Q19: RM4.16/US$). We believe this was mainly due to an improvement in margins as its new equipment is running at more efficient rates. The results were in line with expectations.

Sequentially, YSP’s CNP recorded a significant 19% improvement for 3QFY19. Based on the historical three-year average data, 3Q is typically a seasonally weak quarter, making up only 18%-19% of its profit before tax and CNP.

With both the narrowed y-o-y decline in CNP and the q-o-q improvement in 3QFY19, we think that YSP is on the road to recovery following the initial start-up expenses for its new equipment which it incurred in the past few quarters. We continue to expect margins to improve gradually in the coming quarters.

We maintain our earnings forecasts, “buy” rating and TP of RM3, based on an unchanged target price-earnings ratio of 14 times. Downside risks include weakening of the ringgit against the US dollar, product recalls and regulatory risks. — Affin Hwang Capital, Nov 20


kalofarmako
116 posts

Posted by kalofarmako > Nov 22, 2019 11:10 AM | Report Abuse

Now that govt is removing concession, its a smart move for Pharmaniaga to focus on diversifying


kalofarmako
116 posts

Posted by kalofarmako > Nov 26, 2019 2:43 PM | Report Abuse

https://klse.i3investor.com/blogs/MYpharmaceuticalnews/240245.jsp

PHARMANIAGA MAY STILL HAVE THE UPPER HAND


RainT
5983 posts

Posted by RainT > Dec 2, 2019 4:50 PM | Report Abuse

really kesian

after good quarter result out and 1 days show

and continue down until now


kalofarmako
116 posts

Posted by kalofarmako > Dec 3, 2019 9:15 AM | Report Abuse

Pharmaniaga is contributing to non-profit research and development organization Drugs for Neglected Diseases initiative (DNDi) to support the registration of a new treatment for those with hepatitis C in Malaysia.

https://klse.i3investor.com/blogs/MYpharmaceuticalnews/242914.jsp


mindshare
33 posts

Posted by mindshare > Dec 10, 2019 4:17 PM | Report Abuse

apasal tak habis habis Pharmaniaga kat sini...wrong thread la bro..


mindshare
33 posts

Posted by mindshare > Dec 10, 2019 4:17 PM | Report Abuse

pi jauh jauh main la


mindshare
33 posts

Posted by mindshare > Dec 11, 2019 8:40 PM | Report Abuse

Share YSP tak laku


kalofarmako
116 posts

Posted by kalofarmako > Dec 13, 2019 2:53 PM | Report Abuse

Good news from Pharmaniaga!!!

https://klse.i3investor.com/blogs/MYpharmaceuticalnews/247439.jsp


shawn88
151 posts

Posted by shawn88 > Dec 24, 2019 2:33 PM | Report Abuse

Next qr should be good.. get orders from big brand


kalofarmako
116 posts

Posted by kalofarmako > Dec 31, 2019 9:33 AM | Report Abuse

Lets take a look!

https://klse.i3investor.com/blogs/MYpharmaceuticalnews/2019-12-31-story-h1481975295-PHARMANIAGA_READY_TO_FACE_2020.jsp


ValueMe
61 posts

Posted by ValueMe > Jan 30, 2020 2:29 PM | Report Abuse

Ding dong,ding dong,shooot.


mindshare
33 posts

Posted by mindshare > Feb 3, 2020 4:50 PM | Report Abuse

koyak share


ValueMe
61 posts

Posted by ValueMe > Feb 5, 2020 7:24 PM | Report Abuse

You sell I buy, you buy I sell :)


ValueMe
61 posts

Posted by ValueMe > Feb 5, 2020 8:12 PM | Report Abuse

YSP 30 percent held by Taiwan...thus the price drop..Maybe investors fearful that production will be affected due to coronavirus.


RainT
5983 posts

Posted by RainT > Feb 19, 2020 8:31 PM | Report Abuse

even major shareholders is Taiwanese but YSPSAH manufacturing is in Msia , i think


Fabien "The Efficient Capital Allocater"
1403 posts

Posted by Fabien "The Efficient Capital Allocater" > Feb 26, 2020 11:34 AM | Report Abuse

cashflows have been very good

FCF 27mil this year. cash yield approximately 9% on current market cap


moven00
478 posts

Posted by moven00 > Mar 17, 2020 9:26 AM | Report Abuse

Cash flow bagus tapi control stock...siapa May invest. Pilihan banyak

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