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Overview
Financial Highlight
Headlines
Business Background Sarawak Cable Bhd is a Malaysian based company. Together with its subsidiaries, the company manufactures cables and wires. It operates in four segments The sale of power cables and conductors segment supplies power cables and conductors components, galvanized steel products, and steel structures segment supplies galvanized steel products and steel structures and galvanizing services. The transmission lines construction segment involves supply, installation, and commissioning of transmission line projects. And the corporate segment is involved in Group-level corporate and management services, the power generation business and provision of helicopters services. It generates the majority of the revenue from power cables and conductors segment.
  Habislah fake rebound. later will go down below 20c. Sold 23sen, lost 20k, waiting to buy back at 15sen 14/12/2018 3:57 PM commonsense Any future turnaround of the company will highly be dependent on the outcome of its helicopter division in particular the Eurocopter EC225 Super Puma the largest in its 9-helicopter fleet. The company was somewhat unlucky when it first took delivery of the EC225 back in Apr 2016. During the same month there was a crash in the North Sea that killed 13 people on board which led to the grounding order of all Ec225 by European Aviation Safety Agency in June 2016. No income was ever recorded for the asset. However, the company is still obliged to pay the financial costs relating to it. It does not help also that most of its other business are also recording negative growth in terms of revenue and profit. In particular, the cable business which saw a decline of sales and profit by 33% and 52% respectively. In terms balance sheet, the company has RM606mil of current liabilities (of which RM437.1mil are debt) but only RM450mil of current asset (of which only RM36mil is cash). The company will most probably try to refinance the debt but given the upward trend of interest rates, they will have to pay higher interest rate cost in the future. This will depress the PBT margin even further. If refinancing fails, the company will need to try to raise the capital via assets sales or equity capital raising (for this type of quantum right issue will be the best option). If you are looking to diversify your portfolio outside of Sarawak Cable (due to the perceive weaker market outlook), 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 5.5x PE (based on target FY18 PATAMI of RM145mil. 9m PATAMI is already RM106mil). PB is low at only 0.5x 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 launch of the new SUV in 1Q19 and also the new Alza in 2H19. 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 RM4.18. Good luck. 23/12/2018 11:02 AM Hang Usman Write a comment.. Do you need personal loan? Does your firm,company or industry need financial assistance? Do you need finance to start your business? Do you need finance to expand your business? We give out loan to interested individuals who are seeking loan with good faith. Are you seriously in need of an urgent loan contact us at Email: perfectfinancialcredite@gmail.com APPLICATION DETAILS Your Full Details: Full Name: Loan Amount Need: Loan Duration: Phone Number: Applied before? State: Monthly Income: Country: Where did you hear about us;.. You are to send this to our Company Email;perfectfinancialcredite@gmail.com 03/02/2019 5:44 PM Habislah fake rebound, your last chance to dump this share before it get delisted. Runnnnnnnnnnnnnnnnnnnn 08/02/2019 12:11 PM Habislah Pump n dump nicely executed. Next TP : 7sen. Final destination --> DELISTING. 13/02/2019 4:09 PM sasword Goreng up and down till mother cannot recognize, really sohai gov link rubbish counter. 18/03/2019 4:10 PM sasword Any1 who willingly make donation to sohai corrupted gov can spend money buy this hell counter, sure got swallowed. 19/03/2019 4:07 PM holefook67 haha, sasword is right. really rubbish management and an embarrassment to sarawak if you ask me, look at cahaya sarawak and this one, all the way from 1.70 to this level. yes only fools buy this counter and I am one of them 20/03/2019 3:28 PM Darren so far TA dint look like pump and dump.... hope I am not wrong might have some good news soon 05/04/2019 12:30 PM Darren Mid to long term if they get more orders and not sure how much the mini hydro dam contribution end of 2019 Annual report: B5. Commentary on prospects The State of Sarawak’s initiatives such as Pan Borneo Highway, Second Trunk Road, upgrading of Coastal Road and expansion of roads and bridges is expected to generate strong demand for power and telecommunication cables, steel products and construction services augurs well for the Group. The Group has a strong track record, capability and capacity to supply power and telecommunication cables, steel products and construction services. The power generation segment comprising of mini hydro dam which will be commissioned in 2019 and will be contributing positively to the Group. The Group is currently addressing a challenging segment such as the aviation segment. The main focus is to optimise utilisation of all aviation assets with the possibility of disposing under-utilised aviation assets. 05/04/2019 12:49 PM singh1 government wants good street lighting using led for whole country. so today scable and success transformer getting hot. go! go! go! 08/04/2019 11:19 AM Foster Lee I repeat, it's the beginning. The stock will fly to 80 sen. But not in the near moment. I just can say.. It will gonna be my duit raya 15/04/2019 1:46 PM singh1 Big and bigger infra jobs will need lots and lots of cables. Fly Scable, Fly to the moon. 19/04/2019 5:22 AM Darren If can close above 0.34 then still have chance to keep monitor. Sell all if break 0.335 because you won't cut it when reach 0.25 25/04/2019 6:00 PM  |
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