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Overview
Financial Highlight
Headlines
Business Background Sanichi Technology Bhd through its subsidiaries is engaged in designing and fabrication of precision moulds and tooling for use in an automobile, home appliance, audio visual, computer peripheral, electrical and telecommunication industry. It has two reportable segments namely Investment holding investment property and Manufacturing. The company’s products are further divided into two segments namely Cosmetic Parts and Mechanical Parts. Some of its products are Rapid Cooling Mould, Multi-polymer Mould, Gas Injection Mould, Weld Less Technology and Motorised Gear Mould. It generates a majority of its revenue from Manufacturing. Geographically, the company generates a major share of revenue from Hong Kong.
  AlfI3 apolloang, I fully agreed w u, Juz wonder y SC nvr tik any actions against dem ah? How to make SC watchdogs to start actions ya? "we no need this kinda director in new msia,why no go to jail yet for stock manipulation? 24/12/2018 11:55 AlfI3 Same pattern repeating n repeating of rights isu-share consolidatn; whilst SC got no actions to ban this type of manipulation...! What a shame, those directors sitting down dere to pocket in investor monies; whilst having great funs to eat popcons....Really a conman stock 26/12/2018 21:43 trade88 What investors can do is try to inform everyone of this con stock in social media. Try to avoid this stock and never subscribe to theIR right issues. 28/12/2018 12:23 trade88 Why thisvkind of stock can be listed in bursa Malaysia. Listed in Vietnam stock exchangevis more proper fo4 this rubbish 31/12/2018 14:14 AlfI3 Seemed got a bit of volume to support & accumulating momentum to lift to greater height soon once news is to b announced soon 02/01/2019 19:38 trade88 Ccb..after con people money.go buy new building..remember this rubbish...sanichi... 03/01/2019 17:38 newbie5354_ Talk 3 talk 4 why nobody talk Bangsar South property buy? Is it good for Sanichi? Sorry newbie here seek sifus advise. 05/01/2019 16:46 James113 it will goes up to 0.50c inline with market recovery later . l bought 1000lots @ 0.06c . Keep , Wait & be patience . Sure win . 06/01/2019 18:32 richman sanichi-we good buy at 2 cts recently listed and highest so far 2.5cts on 20/12/18 when sanchi was trading between 6-6.5cts.if it breaks 7should trade 3 cts and above 08/01/2019 11:13 richman listed on 20/12 and expiry dec 2012 ex price 10cts sanichi are known to goring rocket high their shares so their warrant-we should be rocket high too 08/01/2019 11:15 richman confident will play 6.5cts today.all this while buy and sell 6cts.if it breaks 6.5cts next stop should be 8-9cts 08/01/2019 11:18 richman rights was 10 cts with free warrants so really need to push to make from mum and warrants 10/01/2019 16:29 fl888 Buying a property worth RM40 million for RM46 million and getting a friendly valuer to substantiate higher market value might be the new game by Pang.....be careful 14/01/2019 20:49 AlfI3 Another dirty tactic to con ppl hard earned $. Whist d transacted ppty can giv comision or kick back to this grp of syndicate tat link to close this ppty deal. Dey pocket in this rebate, whilst d minority juz able to watch but speechless 16/01/2019 10:09 BILLC So millions of rights issue money will go into pockets of Pang sai n the gangs again,,,?? Bursa n Sc makan gaji buta ka,,,,, 16/01/2019 17:34 commonsense The company recently proposed to acquire a 12-storey office building in Bangsar South for RM48mil which translate to a price of RM850/sq ft. This is actually lower than some of the other newer office building in that area (mostly price at above RM1,000/sq ft). That being said, the reasoning for the acquisition is a bit weak in my opinion (does not create much value for shareholders). These are the reasons listed by the management: 1) Branding 2) To mark Sanichi’s footprint cross Malaysia 3) To establish an international standard sales and admin office in KL (precision mould and property division) 4) Rental income from existing tenants (not sure how much. No details were given) I think the company should use the money raised from the 2 right issues (in 2016 & more recently in 2018 for combined total proceeds of around RM160mil) more wisely and maybe focus more on the development of their property projects. If they really wanted the prestige of the Bangsar South location, they can actually do this by just renting an office space (especially given the abundance supply at the moment, the rental would actually be a lot cheaper). Just because you move your office at Bangsar does not make your products more appealing to potential customers. During the 2018 right issue exercise, management did indicate that a big portion of the proceeds (up to RM84mil) was to be used for property development activities but it was more on a basis of Sanichi developing a new property development project (buy land then develop) which normally provide higher profit margins (if the take up rate is high). There was no mentioned of using the right issue to buy an office building. It is still ok if the rental received from the building is high enough to compensate the purchase price of RM48mil. But from the announcement, it seems like the purchase is mainly for Sanichi’s new office used which is not good since it does not add much value to shareholders (spending money you don’t actually have). After 2 right issues exercises, shareholders would have hope that the money raised would be spent in projects that can actually deliver good returns to them. Since the right issue in 2016, the company has yet to be able to show any full year profit to its shareholders (Jan to Dec 2017 record a loss of RM18.1mil and 9m18 result is still a loss of RM9.5mil). Thinking that FY19 would be any different might be a bit of a wishful thinking on the part of some investors. If you are looking to diversify your portfolio outside of Sanichi (due to its earnings uncertainties and business strategies) I would recommend you to look at MBMR. MBMR is a direct proxy to Perodua via its 22.6% interest in the company. Valuation is cheap at only 6.9x PE (based on target FY18 profit of RM145mil. 9m profit is already RM106mil). PB is low at only 0.7x BV. 4Q18 results is expected to be higher than 3Q18 and last year's 4Q17. For FY19 growth will be driven by the still high demand of new Myvi and the newly launched SUV Aruz and also the newly revamp Alza in 2H19. I am projecting a profit to shareholder of RM160 mil for FY19 which at the current price values MBMR at only 6.2x PE. Please go through the analyst reports (https://klse.i3investor.com/servlets/stk/pt/5983.jsp) and do your own analysis before making any decisions. Most analysts have a TP of above RM3 for the company with Hong Leong being the lowest at RM3.13 and Maybank the highest at RM4.50. Good luck. 20/01/2019 09:11 AlfI3 Indeed, it looked actively traded during d passed 2 weeks.Is xpected to trade higher volume prior to cny, so tat provide some opportunity to break 0.008. 25/01/2019 06:54 AlfI3 Look like got strong support for it at 0.06. If penggorengs come it a little bit, v may xpect it cud b lifted up very easily 18/02/2019 07:18  |
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