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Overview
Financial Highlight
HeadlinesBusiness Background Century Logistics Holdings Bhd is an investment holding company. The group is mainly engaged in the provision of supply chain solutions. Its service offering includes international freight forwarding, transportation management and distribution, contract and oil logistics, procurement logistics, and data management services. The group’s business comprises two segments - Total Logistics Services and Procurement Logistics Services. The majority of its revenue is derived from Total Logistics Services.
  Pirates Anyone knows who are Tiong Nam's customers for their logistics and warehousing division? 20/03/2018 16:12 Jeffreyteck Dropping EPS and weak market. Those believed Korean theme and hold until now, just too bad. Anyway, wish good luck ahead. TP 65. 26/03/2018 11:16 Jeffreyteck Latest analyst report revised TP from 1.50 to 0.90, nonetheless never trust them. 26/03/2018 19:36 apolloang last day prior to the bonus and split the price is about 2.10 back in 2014. 1 becomes 3 after the bonus and split. profit is 42 mil at that time and now profit is only 21 mil. after the bonus and split ex price is 70cts,now still 71cts,still expensive cos profit down by half yet the stock no drop compare to then 04/04/2018 01:16 godhand apolloang last day prior to the bonus and split the price is about 2.10 back in 2014. 1 becomes 3 after the bonus and split. profit is 42 mil at that time and now profit is only 21 mil. after the bonus and split ex price is 70cts,now still 71cts,still expensive cos profit down by half yet the stock no drop compare to then cannot just see pe la. its in its expansion phase 05/04/2018 11:24 Lim Tek Wai Who wanna sell please sell it now because bullets going to finish soon. Lol 05/04/2018 15:50 Lim Tek Wai Who wanna sell please sell it now because bullets going to finish soon. Lol 05/04/2018 15:50  Flintstones Century is becoming attractive. 10 years ago, GDEX sales was only RM 68m. And now, their sales had grew to RM 250m at a CAGR of around 14%. Going forward, the last mile logistics pie is only going to become bigger once malaysia gets used to online buying. 17/04/2018 08:43  TakeProfits 1c dividend...What a laugh...Haha Haha..cha cha cha...If you got 5 lots, only mr5. Do What with it? Hmmm. Sumting better than nothing leh 21/04/2018 01:22 Flintstones This company will get revalued downwards. The venture into last mile delivery is value destructing to exosting shareholders for now 17/05/2018 18:59 Jeffreyteck Finally dropped to own TP65. Revised down to TP50 amid poor results and weakening market conditions. 38 will be the jackpot which I would like to see it happens. 25/05/2018 08:05 verhansolution http://www.theedgemarkets.com/article/ecommerce-southeast-asia-new-ebattleground 19/08/2018 20:16  James Ng https://klse.i3investor.com/blogs/general/170295.jsp [转贴] [CENTURY LOGISTICS HOLDINGS BHD，2018年物流业仍将面临挑战] - James的股票投资James Share Investing 20/08/2018 11:25 Striker90 http://www.theedgemarkets.com/article/jdcombacked-china-logistics-property-eyes-coinvestments-expand-cut-expenses 23/08/2018 22:17  L2 Courier takes flight wef 01SEP2018. PURCHASE OF COURIER ASSETS BY CJ CENTURY LOGISTICS SDN. BHD. ("CJCL") FROM CJ KOREA EXPRESS MALAYSIA SDN. BHD. ("CJKX") http://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=89107&name=EA_GA_ATTACHMENTS 1.2 ....CJCL will assume the entire last mile delivery services of CJKX with effect from the Completion of the SPA. 24/08/2018 18:56 davejl I just saw a programme on 8tv, cjwowshop with the cj logo. anyone has any idea how this programme relates to the company? 17/11/2018 13:15 commonsense Those that are invested in this company will need to be a bit patient when expecting a higher PAT. I believe that the jump in the profit level will only come once the multi storey warehouse is completed which is expected sometime in 3Q19. The warehouse will increase the company's courier capacity from the current 10,000 parcels/ day to up to 200,000 parcels/day. Breakeven can be achieve when the company reaches 100,000 parcels/ day. Currently the division is still in the red wit EBIT of -RM4.91mil. Expect higher losses until the completion of the warehouse. The company has actually been able to grow the other 2 main division (Total Logistic and Procurement Logistic) at a combine rate of 43%. However this comes at an expense of margin (drop from a combine of 7.9% Ebit margin to only 6.1%) due to very high competitive logistic market (did not help that some platform owners like Lazada has started their own logistic services). With all this in mind investors need to be prepare for a lower PAT in FY19 vs FY18. I am targeting a PAT of RM10mil in FY19 vs RM12mil for FY18. In terms of PE this translate to a Fwd PE of 19.1x. But do take not, most analyst expect profit to grow in 2021 onwards (assuming completion of warehouse, 100k parcel per day for courier service and not so high margin compression for the total and procurement logistics businesses). Those that are invested in the company will need to be patient and need to look beyond 2021. Management has track record of delivering revenue growth in the past. For those that have shorter investment horizon, i would suggest them to find companies that could offer earnings growth in 2019. With that in mind, i recommend them to look at MBMR. The company is a direct proxy to Perodua via its 22.6% interest. Valuation is cheap at only 5.3x PE (based on target FY18 PATAMI of RM145mil. 9m PATAMI is already at RM106mil). PB is low at only 0.5x BV. 4Q18 results is expected to be higher than 3Q18 and last year 4Q17. Please go through analyst reports (https://klse.i3investor.com/servlets/stk/pt/5983.jsp) and do your own analysis before making any decisions. Good luck. 03/12/2018 10:58  |
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