Highlights
KLSE: PERSTIM (5436)       PERUSAHAAN SADUR TIMAH MALAYSIA PERSTIMA BHD MAIN : Industrial Products
Last Price Today's Change   Day's Range   Trading Volume
4.10   -0.02 (0.49%)  4.10 - 4.12  7,600
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Overview

Market Cap: 529 Million
NOSH: 129 Million
Avg Volume (4 weeks):10,688
4 Weeks Range:4.06 - 4.27
4 Weeks Price Volatility (%):
19.05%
52 Weeks Range:3.16 - 4.37
52 Weeks Price Volatility (%):
77.69%
Average Price Target: 3.50
Price Target Upside/Downside: -0.60
Stamp duty exempted for year 2021

Financial Highlight

Latest Quarter | Ann. Date 31-Mar-2021 [#4]  |  25-May-2021
Next QR | Est. Ann. Date: 30-Jun-2021  |  18-Aug-2021
T4Q P/E | EY: 9.92  |  10.08%
T4Q DY | Payout %: 0.00%  |  - %
T4Q NAPS | P/NAPS: 3.89  |  1.05
T4Q NP Margin | ROE: 6.41%  |  10.62%

Headlines

Date Subject
14-Oct-2020 Perstima - Dragged by Soft Demand, Cheap Imports
19-Aug-2020 Perstima - Dragged by Lower Volume and Selling Price
24-Jun-2020 Perstima- Missing the Mark

Business Background

Perusahaan Sadur Timah Malaysia Perstima Bhd is a Malaysia based company engaged in manufacturing and supplying of tinplate and tin free steel in domestic and export market. It has been equipped with a Halogen type Continuous Electrolytic Line. Coil products, cut sheet, scroll cut and tin free steel are the form of the products offered by the company. The group has two business segments based on the geographical locations, in Malaysia and Vietnam. The company operates in Malaysia, Vietnam and Other countries of which majority of its revenue from manufacturing and supplying is derived from Malaysia.
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  5 people like this.
 
Diamond7 Good! Thanks
Groom...groo....ooom;
19/07/2019 2:23 PM
Diamond7 Wa!
4.85 Liao....
Good dividend!
22/07/2019 12:03 PM
paperplane aiyo... result bad...nevermind, keep for div
07/11/2019 6:06 PM
Up_down Perstima needs money to build a new factory in Philippines. Capital Commitments shows RM 239 million. It seems Perstima is unable to maintain dividend payout due to major Capex. Some more, market is quite challenging due to influx of cheap China tinplates.
07/11/2019 7:22 PM
James Ng https://klse.i3investor.com/blogs/general/234414.jsp
[转贴] [PERUSAHAAN SADUR TIMAH MALAYSIA PERSTIMA BHD:销量减少以及利润率下降] - James的股票投资James Share Investing
08/11/2019 9:28 AM
James Ng https://klse.i3investor.com/blogs/general/2020-05-08-story-h1506942820.jsp
[转贴] [PERUSAHAAN SADUR TIMAH MALAYSIA PERSTIMA BHD:销量和售价减少] - James的股票投资James Share Investing
08/05/2020 8:50 AM
lionel messi wow, latest 1st qtr result surprisingly good for arguably the worst period of the pandemic. imagine their results if times are good or even normal. prudent and well managed company.
19/08/2020 9:14 AM
paperplane this stock shld be valued RM6 above lah......many miss this great managed company
01/09/2020 2:25 PM
paperplane For Vietnam, the subsidiary Company recorded a revenue of RM88.2 million as compared
to RM70.8 million in the Previous Quarter. The subsidiary Company’s revenue was
higher due to higher sales volume and higher selling price for the Current Quarter. The
Company recorded a profit before tax of RM7.0 million compared with RM2.6 million in
the Previous Quarter. The higher profit before tax for the Current Quarter was due to
higher sales volume coupled with better profit margin.
01/09/2020 2:28 PM
paperplane Despite the Group’s business environment becoming more challenging, the new normal has
strengthened the Group’s resolve to continue to improve production efficiency and cost saving
measures and increase and expand sales and marketing efforts (including exploring new
opportunities and markets) in an effort to ensure the profitability of the Group for the current
financial yea
01/09/2020 2:28 PM
paperplane VIETNAM helps a lot this Q, hope it continue grow strong
01/09/2020 2:29 PM
lionel messi their impending rights with bonus issue will be attractively priced. great opportunity to add more. all approved. ex date will be coming out soon.
09/09/2020 9:55 AM
lionel messi They should change their name to Versalite or Shoji to reflect their Japanese management and parent company. Better branding also. This is basically a Japanese company but not reflected in the name. The Perstima name had some bad reputation before. Totally different company now.
18/09/2020 4:41 PM
AlfI3 Ya, Perstima indeed had bad reputation before tat might jeapardise investor's confidence
02/10/2020 5:50 AM
lionel messi wow, another good qtr in the middle of the pandemic. imagine during normal times. becoming recession proof just like gloves, food related and carton box packaging. will sure fly when they start paying their usual 30 sen dividend per financial year again. currently conserving cash due to high capex for new manufacturing plant in Philippines.
14/10/2020 8:39 AM
Kawan88 https://www.facebook.com/966268273395862/posts/3515267968495867/
18/10/2020 5:28 PM
AlfI3 Anyone knows y d RI prc kept dropping since d listing till ytdy ya. Was it indicating tat hopeless/useless to subscribe d RI?
21/10/2020 6:46 AM
lionel messi Could be a few reasons:

1. don't know how to count the OR value compare to the mother share. Much cheaper to buy the OR and sell the mother share. classic arbitrage opportunity.

2. no money to take up the rights at RM3.00. therefore take back some money by selling the OR

3. no time or hassle to handle the paperwork to subscribe.

4. inconvenience due to the MCO
21/10/2020 12:13 PM
lionel messi forgot to add, even if you don't have any mother share to sell for arbitrage, just buying the OR on itself is worth it and low risk. At the current OR price of RM1.56 and go through the rights issue, your mother share cost is only RM3.04 compared to the mother currently at RM3.23.

Of course the mother share can go down before the rights are listed but you already have a 20 sen hedge. And if you are familiar with their price trend, they have rarely gone down below RM3.20.

Go figure and buy. Today is the last day of OR listing.
21/10/2020 2:13 PM
AlfI3 Previously rarely went belo 3.20 was true. But after d RI & Bonus issue listing into d mkt, wudnt it dilute further to d level lower than 3.20?
24/10/2020 5:49 AM
lionel messi What I meant was it rarely went below RM3.56 before the rights and bonus which is equivalent to RM3.20 after ex. Quite low risk for a high dividend and profitable stock.
27/10/2020 9:02 AM
AlfI3 Is proven tat it nvr gone beyond 3.2 till d listing of RI by tmrw. Is a solid & stable shares to b invested on for better financial flow after d RI
10/11/2020 5:46 AM
lionel messi wow, suddenly shot up past few days on increased vol. uncle KYY buying? certainly checked all his boxes.
23/11/2020 12:18 PM
Diamond7 Yes
Strong n steady!

Hope will break 4.00
N move up to 4.50
03/12/2020 7:50 PM
lionel messi announced today that Malaysia imposes anti-dumping duties on flat-rolled steel fr China, S Korea and Vietnam. Positive news for Perstima?
23/12/2020 4:24 PM
lionel messi wow, shooting up like crazy. small cap with good earnings and div. easy to push
29/12/2020 12:30 PM
IBestDividend Another bonus may be announce :-)
29/12/2020 6:12 PM
yuhang99 https://investmiles.blogspot.com/2021/01/perstim-5436-67.html
29/01/2021 2:19 AM
IBestDividend Good 3rd quarter report and share price will up
29/01/2021 8:13 AM
IBestDividend Break 4 again, onward to 5 soon :-)
17/02/2021 5:37 PM
Up_down New Tinning Line With Insoluble Anodes For High Quality Strip To PERSTIMA, In The Philippines

https://theenergia.com/new-tinning-line-with-insoluble-anodes-for-high-quality-strip-to-perstima-in-the-philippines/
11/04/2021 12:50 PM
Up_down Tenova chooses ABB automation and drives systems for new tinning line plant in Southeast Asia

https://new.abb.com/news/detail/73515/tenova-chooses-abb-automation-and-drives-systems-for-new-tinning-line-plant-in-southeast-asia
11/04/2021 12:52 PM
Up_down Tinplate selling price remains moving upwards as stated by Johortin in the latest quarterly report.

Prospect - Johortin
Steel price continue its uptrend and with the higher raw material costs, we will have to adjust our selling prices accordingly and this will create a challenging business environment for tin cans.
17/04/2021 2:56 PM
lionel messi Based on the previous 3rd qtr result, coming 4th qtr result is likely to be good. Hopefully dividend will go back to pre pandemic level of 30 sen per financial year.
27/04/2021 12:09 PM
Up_down Perstima may not be able to pay high dividend as cash is needed to fund the new factory in Philippines. Expecting dividend of 30 cents to 50 cents when Philippines factory starts contributing profit.
03/05/2021 1:15 PM
lionel messi Good results and big div coming?
05/05/2021 3:08 PM
Up_down Good news to Perstima to increase profit margin on their products.

https://eurometal.net/china-cancels-export-rebates-for-most-steel-products/
05/05/2021 3:14 PM
Up_down Electrolytic tinplate products are under HS code 7210 which is within the range of the removal of the of export rebate.

https://www.steelorbis.com/steel-news/latest-news/china-to-remove-export-tax-rebates-on-146-steel-productshrc-affected-not-crc-and-hdg-1197361.htm
05/05/2021 3:34 PM
Up_down Currently, Persima was merely enjoyed net profit margin 9% in the latest QR, at much lower than export rebate given by China. The potential of margin hike is imminent in near future as Asia electrolytic tinplate prices is mostly driven by the influx of products from China with the fully refund of 13% VAT for export overseas.

https://hs.e-to-china.com/hs-code-7210-d_3-t_2.html
05/05/2021 4:08 PM
Diamond7 Buy n keep
Good dividend!
06/05/2021 9:08 PM
Up_down Electrolytic tinplate market works in an oligopoly manner. It seems they have a common consensus in setting up a factory in each country of SEA.

Factory capacity per year
1. Perstima Malaysia - 200,000 mt
2. Perstima Vietnam - 120,000 mt
3. PT Pelat Timah Indonesia - 160,000 mt ( controlled by Nippon Steel)
4. Siam Tinplate Thailand - 140,000 mt ( controlled by Nippon Steel )
5. Perstima Philippines - 200,000 mt
06/05/2021 10:22 PM
Up_down Perstima is actually controlled by JFE Shoji, the second largest shareholder and the sole raw material (black plate) supplier. Electrolytic tinplate manufacturing does not require high capital intensive or technology skill. The high bearer of entry is to obtain reliability long term supply of black plate for producing electrolytic tinplate.
07/05/2021 9:07 AM
Up_down JFE Shoji and Nippon Steel don't sell the black plates to outsiders other than their related companies. It is highly capital intensive for setting up black plate production facilities as the products are typically catered to automobile and ship building markets. Black plate for producing electrolytic tinplate market is obviously too small in contributing to the turnover.
07/05/2021 9:18 AM
Up_down Information about the Philippines market as extracted from the funds raising in 2018:

1. Philippines has a population of approximately 100 million with no existing tinplate manufacturers
2. Tinplate in the Philippines are mainly sourced from other countries. (China, Korea & Japan)
3. The annual domestic demand is approximately 220,000 mt
07/05/2021 10:59 AM
Diamond7 Coming quarterly report should be good.
Hope they give 30 to 50 cents dividen
14/05/2021 3:02 PM
nextan Good QR results but why no declare any dividend?
26/05/2021 6:52 AM
lionel messi not no div but not yet. last year was in Jul
26/05/2021 8:40 AM
nextan This year 20 cents possible?
26/05/2021 10:01 AM
stockraider Perstima result is excellent mah!
26/05/2021 12:57 PM
stockraider Dividend will be declare later loh!
26/05/2021 12:57 PM


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