KLSE: EKA (7182)       EKA NOODLES BHD MAIN : Consumer
Last Price Today's Change   Day's Range   Trading Volume
0.065   -0.005 (7.14%)  0.065 - 0.065  638,000
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Market Cap: 20 Million
NOSH: 305 Million
Avg Volume (4 weeks):173,870
4 Weeks Range:0.055 - 0.07
4 Weeks Price Volatility (%):
52 Weeks Range:0.05 - 0.10
52 Weeks Price Volatility (%):
Average Price Target: 0.65
Price Target Upside/Downside: +0.585

Financial Highlight

Latest Quarter | Ann. Date 30-Sep-2018 [#3]  |  23-Nov-2018
Next QR | Est. Ann. Date: 31-Dec-2018  |  28-Feb-2019
T4Q P/E | EY: -5.70  |  -17.56%
T4Q DY | Payout %: 0.00%  |  - %
T4Q NAPS | P/NAPS: -0.09  |  0.00
T4Q NP Margin | ROE: -13.92%  |  0.00%


Date Subject
25-Apr-2018 Mplus Market Pulse - 25 Apr 2018

Business Background

EKA Noodles Bhd is an investment holding company. The group operates predominantly in manufacturing and marketing of all type of rice and sago sticks (vermicelli), sago starch and related products in Malaysia. Its product portfolio comprises bihun, bihun siam, instant bihun, laksa, and instant noodles. The group operates in two principal geographical areas namely West Malaysia and East Malaysia.
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  4 people like this.
Hornet Bihun sudah mau transform jadi spaghetti....so get readi !!
25/08/2017 10:44
run3032003 stanby ur bullet!!!
04/09/2017 23:12
djibaok ini bihun sudah direndam dalam itu kuah sup pekat likat. Susah mau mangun
22/09/2017 17:52
djibaok orang semua satu Malaysia makan bihun, macam mana boleh rugi meniaga sebelum ni? Katun betullll
22/09/2017 17:53
swee88 Wao, EKA Noodles moving. Huat Huat
20/10/2017 09:55
samsambank Buy Anzo for possible 100% profit in one month. Good QR
20/10/2017 11:39
urmomcrabs Ini kali la.. 99
20/10/2017 14:23
Johnfatt why? budget need to tighten belt everyone eats EKA noodles?
20/10/2017 15:32
ylsc yaya, why Eka got movement? anyone can explain?
20/10/2017 15:55
ivan9511 lowest 002 now up 500%
20/10/2017 16:26
djibaok Minggu depan ada budget. Cabinet breakfast, lunch, snacks sumua makan bee hun goreng maaa... huat arr
20/10/2017 16:29
ivan9511 yes. going up again we kaya now
all the best
21/10/2017 01:14
pc007 Next QR will be good results since all factory resume production since June this year which will reflect to this QR..
21/10/2017 05:31
paktua73 Post removed. Why?
23/10/2017 09:48
kser eka starting to move.. huat ar
26/10/2017 11:10
stncws lai lai eat noddle
26/10/2017 11:11
kser dont miss the boat guys
26/10/2017 11:32
kser will continue after lunch, hoping to close at 10 sen today
26/10/2017 12:26
Bosch62 why so low volume today?
27/10/2017 15:17
paktua73 Post removed. Why?
10/11/2017 13:24
CalmAndWise 1. New strong shreholder came in with strong control of Eka.
- Bot 28m shares at 7c (15/12) & 33m at 15c (13/3).
2. Several factories resumed operation in May/June/August 2017
- Closed since December 2016.
3. Going forward : Eka handling litigations from creditors, acquiring similar businesses, lowering
debts, working on regularisation plan (2'18).
Note : Pls correct if there are any errors.
20/11/2017 22:21
1427795467 https://www.facebook.com/KLSELION/photos/a.854214074738461.1073741829.848454415314427/872289359597599/?type=3&theater
24/11/2017 00:01
Bosch62 28 Nov report seems ok !
28/11/2017 18:55
alphajack 5c coming
28/11/2017 18:59
rmkfac100812 Lets c how the market reacts 2 eka's great qr.
29/11/2017 08:06
rmkfac100812 Tp 0.65.
29/11/2017 12:15
Lappier811 sure?
29/11/2017 12:27
sasuke no reaction also
29/11/2017 15:09
Bosch62 as long as they are on the right track ... future prices will be predictable ..t he factories are running .. thats a big plus !!! Sure to move already ,, at least to 0.15 near term
29/11/2017 15:41
Bosch62 can collect at sub 0.1 or even at 0,1
29/11/2017 15:42
anchovy89 what happen? still stagnant at d same price..
08/12/2017 19:48
mf rip
08/12/2017 19:50
Uftjhfj Good fundamental. Company turn around. I think soon will quit from pn17. Good to invest. Cheap
04/01/2018 15:12
GreatWarrants Cheap undervalued..
The new owners should raise funds for restructuring...
Propose bonus issue and do private placement for strategic investors
27/02/2018 01:36
Agnes KL LIm mati liao this share :(
05/03/2018 14:28
djibaok Apa kabar org kampung sudah lama tak berjumpa. Mari makan mihun gorenggggggg woiiiiii
06/04/2018 13:55
Lim Tek Wai Revvving up again ;)
09/04/2018 16:19
Lim Tek Wai Thanks
09/04/2018 16:49
Jasper Coo q result out already
09/04/2018 17:36
Jordan Khoo will continue after lunch
13/04/2018 16:20
LimKL1 steady
13/04/2018 16:24
Yang Addison After annual meeting any announcement?
22/05/2018 15:28
Lovelife no comments?
30/10/2018 22:44
Yang Addison no More
01/11/2018 09:38
Yang Addison any news now?
24/12/2018 12:19
Yang Addison any update?
26/12/2018 21:04
Lovelife how about this share?
10/01/2019 08:06
commonsense Hi Lovelife,

The potential delisting of Perisai next month shows the risk of investing in a PN17 company. For Eka Noodles Berhad the reason for the company to fall into PN17 is the same as Perisai. Its shareholders’ equity is currently at -RM28.96mil (yes negative equity. Theoretically when you buy this company shares, you actually owe creditor 9 sens per share. You don’t own asset but debt).

As of Sept 18, the company has total debt of RM 72mil and only total cash of only RM8.7mil. They actually have a restructuring plans already to bring the company out of the PN17 status. Below is the summary:

1) There will be a right issue exercise for the current shareholder. For every 1 share, the shareholder is entitled to subscribe to 5 new shares at RM0.05 per share. Basically, here you need to be prepared to add up to at least another RM0.25 for every share that you have now. If you don’t subscribe to the right issue then you will get diluted. The right issue is expected to raised RM108mil.

2) The company will then use the proceed from the right issue to pay the debt. In total RM38mil will be used to pay the debt. Other debt amounting to RM31mil will be paid via the issuance of new shares at RM0.05 (or 620mil new shares) which means you will then get diluted.

3) Then the company will buy another company called Kepala Batas Bihun Sdn Bhd at a price of RM55mil of which RM33mil to be paid by cash (from the right issue) and the rest by new shares at RM0.05 (or 440mil new shares). This again will dilute your position even further but will bring in profit to the company in the future. The vendor is guaranteeing a profit of RM8mil in FY19 which is actually not that bad if the profit can maintain at the level for the foreseeable future. At that level, the company after all the new shares issuance, will be valued at 8.6x forward PE. Which is not that expensive.

Upon completion of all this exercise, the company should be able to lift itself out of the PN17 status. But investors need to be prepared to basically add in an addition 25 sens per share into their current investment. In summary, when you buy Eka shares now at 6 sens, your total cost is actually supposed to be 31 sens per share to take into account the future right issue.

If you are looking to diversify your portfolio outside of EKA (due to the uncertainties from the regulation plans) 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 6.5x PE (based on target FY18 PATAMI of RM145mil. 9m PATAMI is already RM106mil). PB is low at only 0.6x 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 newly launched SUV 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 RM4.50.

Good luck.
15/01/2019 09:52
Follower Mr. Commonsense..How about KFM..
15/01/2019 17:48
PN17player I wait for this counter to exit PN17 , my neck also dam long oredi . unlike RGT BHD, oredi achieved two q continuous profit, can apply for PN17 exit upon Q result announcement.
11/02/2019 11:07


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