KLSE: HSSEB (0185)       HSS ENGINEERS BHD MAIN : Industrial Products
Last Price Today's Change   Day's Range   Trading Volume
1.11   -0.03 (2.63%)  1.09 - 1.15  2,196,800
Analyze this stock with MQ Trader system


Market Cap: 516 Million
NOSH: 465 Million
Avg Volume (4 weeks):2,329,400
4 Weeks Range:0.905 - 1.21
4 Weeks Price Volatility (%):
52 Weeks Range:0.445 - 1.67
52 Weeks Price Volatility (%):
Average Price Target: 1.18
Price Target Upside/Downside: +0.07
Stamp duty exempted for year 2019

Financial Highlight

Latest Quarter | Ann. Date 31-Dec-2018 [#4]  |  21-Feb-2019
Next QR | Est. Ann. Date: 31-Mar-2019  |  15-May-2019
T4Q P/E | EY: -5.03  |  -19.88%
T4Q DY | Payout %: 0.00%  |  - %
T4Q NAPS | P/NAPS: 0.4032  |  2.75
T4Q NP Margin | ROE: -54.08%  |  -51.32%


Date Subject
13-Mar-2019 HSS工程上挑RM1.24/敏源
13-Mar-2019 M+ Online Technical Focus - 13 March 2019
05-Mar-2019 Malaysian Strategy – Wrapping Up 4Q18 Results
01-Mar-2019 M+ Online Technical Focus - 1 March 2019
01-Mar-2019 Daily Market Update - 1 Mar 2019 (HSSEB, VELESTO)
24-Feb-2019 热门股:HSS工程上挑RM1.22
22-Feb-2019 HSS Engineers - Kitchen Sinking
19-Feb-2019 Daily Market Update - 19 Feb 2019 (HSSEB, SUPERLN)
28-Jan-2019 HSS Engineers - Water Play
16-Jan-2019 Stocks on Radar - HSS Engineers (0185)
16-Jan-2019 Trading Stocks - HSS Engineers
06-Jan-2019 Stock Pick 2019 - The Star
03-Jan-2019 Trading Stocks - HSS Engineers
03-Jan-2019 HSS工程挑战RM1.02/敏源
03-Jan-2019 Technical Buy: HSSEB (0185)
19-Nov-2018 Technical Analysis - HSS Engineers
17-Nov-2018 HSS工程挑战RM1.05/敏源
16-Nov-2018 HSS Engineers - 3Q: Strong Quarter
04-Nov-2018 HSS工程反弹上挑RM1.02/敏源
19-Oct-2018 Daily Market Update - 19 Oct 2018 (UCHITEC, HSSEB)

Business Background

HSS Engineers Bhd through its subsidiaries is engaged in providing engineering and project management services including engineering design, project management, construction supervision and building information modeling services.
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  3 people like this.
drt6398 https://www.zhihu.com/question/21692767
Based on this article, the impairment is because hsseb giving high valuation to smhb?
21/02/2019 22:04
beso reported quarterly net loss 119.5m,habislah,limit down tomorrow
21/02/2019 22:42
amet2017 its impairment..
21/02/2019 22:43
Goh Kim Hock scary.. seeing how they manipulate the impairment all these years..
21/02/2019 23:39
edmen Price is controlled by syndicate - last 2-3 days heavy selldown - get rid of small fries and then bought back next day - they knew results would be bad - now with majority shares at hand they are able to control the price. good work!

YF24 - possibly RM 1.00++
22/02/2019 09:24
edmen Good opportunity for those accumulate low now - once ECRL confirmed - it will be a blessing!
22/02/2019 09:45
edmen looking at the volume - will go above RM 1++ - wait n see....
22/02/2019 10:56
ignasio god stock , rip early morning panic seller
22/02/2019 14:57
Ehome009 What a come back despite heavy losses!
22/02/2019 14:57
edmen looks like somebody knew that the likelihood of the ECRL's fate is gonna be ON
22/02/2019 15:40
amet2017 I believe its written somewhere in the report. They are expecting the ecrl resumption
22/02/2019 15:41
edmen buy buy buy, resistance broken...
22/02/2019 15:47
edmen next week price is set to soar - another iwcity in the making....
22/02/2019 15:49
Ehome009 Edmen,I concur with your notions
22/02/2019 15:49
Ehome009 all negatives were removed, the only direction is up...
22/02/2019 15:51
apolloang still using the same old crook tactic ar? like this vote PH what for?
22/02/2019 15:56
Ehome009 Posted by YF24 > Feb 21, 2019 06:53 PM | Report Abuse

open drop but will bound back after awhile closing up 10sen 1.10 : )

YF24 was so correct in his yesterday's prediction
22/02/2019 15:57
apolloang we vote for new misa not the old crook thinking otak kolot
22/02/2019 16:01
amet2017 ok2 can go those badmouth yesterday can search for new counter to badmouth...kikiki
22/02/2019 16:05
xuxu dramatic!
22/02/2019 16:31
apolloang cheat the ikan bilis…..tipu post big losses but push up
22/02/2019 16:37
YF24 Thanks for hsseb give me a huge profit in a day : )
22/02/2019 18:05
22/02/2019 18:22
Tan Issac funny stock,huge losses but still can up
22/02/2019 18:55
22/02/2019 21:38
DreamCommander Future prospects more important
22/02/2019 21:39
lai81533 Trending GOod
22/02/2019 22:32
23/02/2019 01:25
5354_ Why fly even so much loss? Boss give corruption to bankers/Bursa?
23/02/2019 09:32
amet2017 The word is impairment..read carefully the QR report.
23/02/2019 10:41
cytew written of some goodwill , is a very good move, it will improve it's ROE
23/02/2019 11:17
Dickyyou RM 119.529 million loss, revenue, NTA drop why good?
23/02/2019 11:23
lai81533 Good stocks. Laugh later
27/02/2019 10:58
lai81533 strong big players good
27/02/2019 22:16
lai81533 Strong. Go hsseb warrant a
01/03/2019 05:41
vamsiprince Hsseb looking good . When to buy ? when to sell ? message me in telegram @vamsiCV
01/03/2019 14:27
lai81533 strong trend
07/03/2019 21:03
YF24 yes next week limit up : )
08/03/2019 18:22
Pak Abu Rm2 tomolo!!!
11/03/2019 16:36
Pak Abu heheheheeee...
11/03/2019 16:36
YF24 if ECRL on this courter will boom boom boom x3 TP2 within a month
11/03/2019 16:36
Pak Abu ECRL???
11/03/2019 16:38
ANALyst yes it is on
11/03/2019 16:39
Pak Abu Econ n GBG will also up one
11/03/2019 16:46
YF24 1.15-1.18
11/03/2019 23:18
Pak Abu ECRL ??
12/03/2019 12:01
Pak Abu Limit UP!!!!
12/03/2019 14:46
YF24 haha chun chun touch 1.18 : )
12/03/2019 18:34
Sharulf Lai,why laugh later ,any supporting reason? Thanks
13/03/2019 09:21
commonsense Excluding the large impairment on goodwill and impairment on receivables, HSSEB 4Q18 profit would have actually recorded a small profit of less than RM1mil translating to a very depressing core profit margins of only 2.1% vs the FY17 average profit margins of 10.3%.

This just shows how depressing is the current operating environment for the construction industry. Most construction companies are now chasing the same projects given that much of the large infrastructure projects that had helped improve the construction industries margins are now being reviewed, scale down, cancelled and delayed by the federal government. The intense competition has forced some companies to undercut others when tendering for projects. In most cases, the proposal made by these companies will barely result in any profit. Most of them are betting on variables orders to help push for profit later at the end of the project/ contract. Basically, they are betting to have a round of negotiation with their clients later hoping for the clients to agree on paying the additional variation orders (this was what happen in the O&G industry in FY15 and FY16).

Investors need to take note that a contract win does not necessarily translate to profit. The worst case is actually more probable with companies that submitted a too low offer having the risk of cost overruns (and in most cases they also face LAD penalties due to delay in delivering projects).
For HSS Engineering, investors need to take note that even if some of the big projects like ECRL are put back to work, it would be at a lower cost which will be at the expense of contractors like HSSEB.

With this in mind (and couple with the challenging construction environment), investors need to be prepared for HSSEB to deliver margins that are similar to 4Q18 of single low digit. Assuming the company managed to deliver a profit of RM10mil in FY19, at the current share price, the company would be valued at a very lofty valuation of 53x PE. Let say profit managed to improved to RM20mil (which is higher than FY17 and FY18 core profit), the company would still be valued at 26.5x PE. Very high given that the average PE for construction now is less than 10x.

If you are looking to hedge your portfolio outside of HSSEB (due to its weak earnings outlook and relatively high valuation), I would recommend you to look at MBMR. (https://klse.i3investor.com/servlets/stk/pt/5983.jsp)

MBMR is a direct proxy to Perodua via its 22.6% interest in the company. Valuation is cheap at only 6.6x PE based on FY18 profit of RM166mil. PB is low at only 0.7x BV.

FY19 should deliver another profit growth year to the company. Profit growth will again be driven by the performance of Perodua (via MBMR 22.6% holdings in Perodua) from the still strong sales of new Myvi, sales of SUV Aruz and the introduction of the newly revamp Alza sometime in the 2H19. Aruz which commands a higher margin compared to other models, will help improve the total profit margin of Perodua (which will flow to MBMR’s bottom line as well).

MBMR is expected to achieve a profit of RM200mil in 2019. At the current share price, the company is being valued at only 5.5x which is a lot lower than the industry average of 15x PE. As an example, UMW (another company with exposure to Perodua) is currently trading at a PE multiple of almost 20x.

Good luck.
15/03/2019 11:17


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