|
| |
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.
  Striker90 http://www.theedgemarkets.com/article/jdcombacked-china-logistics-property-eyes-coinvestments-expand-cut-expenses 23/08/2018 10:17 PM  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 6:56 PM 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 1:15 PM 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 AM uptrending SOURCE AR 2018 NOTE 32 NOTES TO THE FINANCIAL STATEMENTS (CONT’D) CJ CENTURY LOGISTICS HOLDINGS BERHAD (Formerly known as CENTURY LOGISTICS HOLDINGS BERHAD) (Company No. 424341-A) 32. SEGMENTAL INFORMATION (cont’d) Segment Revenue and Results The Group Total............ Procurement Logistics.....Logistics..... Courier Services......Services..... .Services.. Elimination Consolidated RM’000 RM’000 RM’000 RM’000 RM’000 2018 REVENUE External sales 258,526 130,956 11,516 – 400,998 Inter-segment sales 2,892 109 – (3,001) – Total revenue 261,418 131,065 11,516 (3,001) 400,998 RESULTS Segment results 11,786 9,435 (6,743) 766 15,244 Interest income 2,599 126 – (2) 2,723 Profit/(Loss) from operations 14,385 9,561 (6,743) 764 17,967 Finance costs (3,891) (14) (440) – (4,345) Income tax expense (3,029) (711) – – (3,740) Profit/(Loss) for the year 7,465 8,836 (7,183) 764 9,882 The Group Total Procurement Logistics Logistics Courier Services Services Services Elimination Consolidated RM’000 RM’000 RM’000 RM’000 RM’000 2017 REVENUE External sales 246,315 48,282 – – 294,597 Inter-segment sales 1,694 – – (1,694) – Total revenue 248,009 48,282 – (1,694) 294,597 RESULTS Segment results 18,106 3,292 – (45) 21,353 Interest income 1,592 813 – – 2,405 Profit from operations 19,698 4,105 – (45) 23,758 Finance costs (2,480) (165) – – (2,645) Income tax expense (5,021) (834) – – (5,855) Profit for the year 12,197 3,106 – (45) 15,258 03/04/2019 12:26 PM uptrending Market missed to take note of the outstanding performance of the Procurement Services... Stripping out Courier Services which just started operation from the equation, the bottomline of FY18 is actually slightly BETTER than FY17.. Once the volume of Courier Services pick up from the present 10K parcels per day to some sizeable breakeven point or surpassing the breakeven point (the max cap is 150K parcels per day) it will be a complete different scenario. The capability of Korean Courier Services Co, CJ Korea Parcel Services, which is number 1 in Korea and no 19 in the world is underrated by the myopic market... 03/04/2019 12:48 PM uptrending TAKE AWAY COURIER SERVICES FROM FY18, Net Profit FY18=rm 16.3M, FY17=rm15.3M EPS FY18= 4.14 CENT, FY 17= 3.88 cent.. 03/04/2019 3:21 PM uptrending TREASURY SHARES During the current financial year, the Company bought back 3,968,900 of its issued ordinary shares from the open market at average price of RM0.63 per share. The total consideration paid for the purchase was RM2,505,819. The Company held as treasury shares a total of 3,968,900 of its 394,229,890 issued ordinary shares. The treasury shares are held in accordance with Section 127(4)(b) of the Companies Act 2016 at a carrying amount of RM2,505,819 as disclosed in Note 22 to the Financial Statements. Source : CJ Century AR2018 03/04/2019 3:45 PM uptrending Procurement logistics is the new area of growth in the last FY 2018. Could CJ make use of its network to bring in more Procurement Logistics Business, especially those Korean brands or related to Samsung? TVs, Air conditioners, Refrigerators, Washing Machines.... 04/04/2019 9:06 AM uptrending CJ Century’s Procurement Logistics Services offers original equipment manufacturing solutions to electrical and electronic products manufacturers and traders. With today’s market requirement changing at an incredible pace, customers are outsourcing more of their supply chain to third party logistics provider to include procurement, assembly and repackaging services. The traditional practice of third party logistics providers merely handling the movement of goods has since evolved to providing increased levels of value added services. We have during the year, enlarged our customer base and diversified into new regions to expand our procurement logistics offering. This has contributed to the large increase in our income from our Procurement Logistics Services. Extracted from Managing Director's Message, CJCENTURY AR 2018 04/04/2019 9:26 AM stocking all talk and no action, director con ppl to buy say gonna goreng...it has been 2 months since 08/04/2019 3:27 PM uptrending https://www.cjlogistics.com/en/main On explosive expansion, to be the top 5 logistics company in the world by 2020. With the parent company's world wide networks and expertise, would cjcentury turn out to be a multi baggers in a few years..? 09/04/2019 5:20 PM uptrending Procurement logistics is booming, doing very well... Courier service need about 3 years gestation period.. Aims to be the No 1 in the country.. Oil logistics fully tenanted from this month...recovering... Total logistics remains competitive... Some warehouse space still not fully tenanted, about 200K sq ft.. Will try to get clients... Management will control Capex and Opex... move the bottom line up and be more profitable this FY... :) 02/05/2019 10:00 AM  |
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
