Highlights
KLSE: HLIND (3301)       HONG LEONG INDUSTRIES BHD MAIN : Consumer
Last Price Today's Change   Day's Range   Trading Volume
8.16   -0.14 (1.69%)  8.13 - 8.26  86,600
Trade this stock and win a FREE I3investor T-shirt after 5 trades. Find out more.

Financials


Market Cap: 2,562 Million

Market Cap 2,562 Million
NOSH 314 Million

Latest Audited Result:  30-Jun-2019

Latest Audited Result: 30-Jun-2019
Announcement Date 04-Nov-2019
Next Audited Result: 30-Jun-2020
Est. Ann. Date: 04-Nov-2020
Est. Ann. Due Date: 27-Dec-2020

Latest Quarter:  31-Mar-2020 [#3]

Latest Quarter: 31-Mar-2020 [#3]
Announcement Date 22-May-2020
Next Quarter: 30-Jun-2020
Est. Ann. Date: 29-Aug-2020
Est. Ann. Due Date: 29-Aug-2020
QoQ | YoY   -26.34%  |    -36.36%

Annual (Unaudited) ( EPS: 99.75, P/E: 7.83 )

Revenue | NP to SH 2,750,382  |  327,085
RPS | P/RPS 838.78 Cent  |  0.93
EPS | P/E | EY 99.75 Cent  |  7.83  |  12.76%
DPS | DY | Payout % 47.88 Cent  |  6.13%  |  48.00%
NAPS | P/NAPS 4.96  |  1.58
YoY   -2.24%
NP Margin | ROE 14.88%  |  20.11%
F.Y. | Ann. Date 30-Jun-2019  |  29-Aug-2019

T4Q Result ( EPS: 85.05, P/E: 9.19 )

Revenue | NP to SH 2,827,112  |  278,884
RPS | P/RPS 862.18 Cent  |  0.91
EPS | P/E | EY 85.05 Cent  |  9.19  |  10.88%
DPS | DY | Payout % 40.22 Cent  |  5.15%  |  47.29%
NAPS | P/NAPS 5.43  |  1.44
QoQ | YoY   -10.54%  |    -21.16%
NP Margin | ROE 12.97%  |  15.66%
F.Y. | Ann. Date 31-Mar-2020  |  22-May-2020

Annualized Result ( EPS: 80.91, P/E: 9.66 )

Revenue | NP to SH 2,861,354  |  265,306
RPS | P/RPS 872.62 Cent  |  0.90
EPS | P/E | EY 80.91 Cent  |  9.66  |  10.35%
DPS | DY | Payout % -
NAPS | P/NAPS -
QoQ | YoY   -6.22%  |    -19.50%
NP Margin | ROE 12.35%  |  14.90%
F.Y. | Ann. Date 31-Mar-2020  |  22-May-2020


Hints :
Click the QoQ or YoY on table to view the QoQ or YoY Financial Result page.

Click here to modify the Visible Columns.

Date Financial Result Financial Ratio Per Share Item Performance Valuation (End of Quarter) Valuation (Ann. Date)
F.Y. Ann. Date Quarter # Revenue PBT NP NP to SH Div Net Worth Div Payout % NP Margin ROE NOSH RPS Adj. RPS EPS Adj. EPS DPS Adj. DPS NAPS Adj. NAPS QoQ YoY EOQ Date EOQ Price EOQ P/RPS EOQ P/EPS EOQ P/NAPS EOQ EY EOQ DY ANN Date ANN Price ANN P/RPS ANN P/EPS ANN P/NAPS ANN EY ANN DY
30-Jun-2020 22-May-2020 31-Mar-2020 3 621,889 98,914 77,543 57,529 78,502 1,780,442 136.46% 12.47% 3.23% 314,011 198.05 189.66 18.32 17.54 25.00 23.94 5.6700 5.43   -26.34%   -36.36% 31-Mar-2020 7.54 3.81 41.16 1.33 2.43% 3.32% 22-May-2020 8.16 4.12 44.54 1.44 2.25% 3.06%
30-Jun-2020 26-Feb-2020 31-Dec-2019 2 746,890 127,213 102,537 78,100 - 1,720,681 - % 13.73% 4.54% 313,993 237.87 227.78 24.87 23.82 0.00 0.00 5.4800 5.25   23.28%   -9.96% 31-Dec-2019 10.42 4.38 41.89 1.90 2.39% 0.00% 26-Feb-2020 9.40 3.95 37.79 1.72 2.65% 0.00%
30-Jun-2020 26-Nov-2019 30-Sep-2019 1 777,238 109,069 84,881 63,351 53,378 1,692,422 84.26% 10.92% 3.74% 313,993 247.53 237.03 20.18 19.32 17.00 16.28 5.3900 5.16   -20.72%   -9.56% 30-Sep-2019 10.32 4.17 51.15 1.91 1.96% 1.65% 26-Nov-2019 10.64 4.30 52.74 1.97 1.90% 1.60%
30-Jun-2019 29-Aug-2019 30-Jun-2019 4 681,095 127,240 101,586 79,904 - 1,626,483 - % 14.92% 4.91% 313,993 216.91 207.71 25.45 24.37 0.00 0.00 5.1800 4.96   -11.61%   -25.01% 28-Jun-2019 11.28 5.20 44.33 2.18 2.26% 0.00% 29-Aug-2019 10.50 4.84 41.26 2.03 2.42% 0.00%
30-Jun-2019 28-May-2019 31-Mar-2019 3 693,526 138,436 113,462 90,396 109,866 1,657,407 121.54% 16.36% 5.45% 313,903 220.94 211.50 28.80 27.57 35.00 33.51 5.2800 5.05   4.22%   42.95% 29-Mar-2019 9.96 4.51 34.59 1.89 2.89% 3.51% 28-May-2019 10.76 4.87 37.36 2.04 2.68% 3.25%
30-Jun-2019 18-Feb-2019 31-Dec-2018 2 702,847 127,255 106,224 86,739 - 1,566,550 - % 15.11% 5.54% 313,938 223.88 214.35 27.63 26.45 0.00 0.00 4.9900 4.78   23.83%   4.58% 31-Dec-2018 8.50 3.80 30.76 1.70 3.25% 0.00% 18-Feb-2019 9.42 4.21 34.09 1.89 2.93% 0.00%
30-Jun-2019 12-Nov-2018 30-Sep-2018 1 672,914 107,843 88,025 70,046 47,061 1,534,213 67.19% 13.08% 4.57% 313,745 214.48 205.22 22.33 21.36 15.00 14.35 4.8900 4.68   -34.26%   -14.43% 28-Sep-2018 10.64 4.96 47.66 2.18 2.10% 1.41% 12-Nov-2018 10.56 4.92 47.30 2.16 2.11% 1.42%
30-Jun-2018 28-Aug-2018 30-Jun-2018 4 603,604 131,948 122,737 106,554 - 1,471,498 - % 20.33% 7.24% 312,420 193.20 184.08 34.11 32.50 0.00 0.00 4.7100 4.49   68.50%   201.90% 29-Jun-2018 11.36 5.88 33.31 2.41 3.00% 0.00% 28-Aug-2018 11.46 5.93 33.60 2.43 2.98% 0.00%
30-Jun-2018 24-Apr-2018 31-Mar-2018 3 637,625 97,401 80,593 63,236 99,196 1,413,545 156.87% 12.64% 4.47% 309,988 205.69 194.46 20.40 19.28 32.00 30.25 4.5600 4.31   -23.76%   -14.80% 30-Mar-2018 10.88 5.29 53.33 2.39 1.87% 2.94% 24-Apr-2018 11.00 5.35 53.92 2.41 1.85% 2.91%
30-Jun-2018 05-Feb-2018 31-Dec-2017 2 632,311 117,504 99,552 82,944 - 1,374,095 - % 15.74% 6.04% 309,481 204.31 192.83 26.77 25.30 0.00 0.00 4.4400 4.19   1.33%   20.79% 29-Dec-2017 9.69 4.74 36.16 2.18 2.77% 0.00% 05-Feb-2018 9.50 4.65 35.45 2.14 2.82% 0.00%
30-Jun-2018 09-Nov-2017 30-Sep-2017 1 629,426 117,544 99,470 81,859 46,443 1,356,161 56.74% 15.80% 6.04% 309,626 203.29 191.95 26.44 24.96 15.00 14.16 4.3800 4.14   178.28%   26.39% 29-Sep-2017 9.40 4.62 35.55 2.15 2.81% 1.60% 09-Nov-2017 9.80 4.82 37.07 2.24 2.70% 1.53%
30-Jun-2017 17-Aug-2017 30-Jun-2017 4 569,012 -92,713 -92,549 -104,569 - 1,269,175 - % -16.26% -8.24% 309,555 183.82 173.53 -33.78 -31.89 0.00 0.00 4.1000 3.87   -240.88%   -250.47% 30-Jun-2017 10.14 5.52 -30.02 2.47 -3.33% 0.00% 17-Aug-2017 9.78 5.32 -28.95 2.39 -3.45% 0.00%
30-Jun-2017 25-Apr-2017 31-Mar-2017 3 585,824 102,602 87,147 74,223 92,691 1,476,881 124.88% 14.88% 5.03% 308,971 189.60 178.66 24.02 22.64 30.00 28.27 4.7800 4.50   8.09%   26.55% 31-Mar-2017 9.37 4.94 39.00 1.96 2.56% 3.20% 25-Apr-2017 9.75 5.14 40.59 2.04 2.46% 3.08%
30-Jun-2017 06-Feb-2017 31-Dec-2016 2 561,525 90,979 79,052 68,667 - 1,401,257 - % 14.08% 4.90% 308,647 181.93 171.25 22.27 20.94 0.00 0.00 4.5400 4.27   6.02%   -7.52% 30-Dec-2016 9.40 5.17 42.25 2.07 2.37% 0.00% 06-Feb-2017 9.76 5.36 43.87 2.15 2.28% 0.00%
30-Jun-2017 08-Nov-2016 30-Sep-2016 1 565,754 91,441 77,309 64,766 46,283 1,376,161 71.46% 13.66% 4.71% 308,556 183.36 172.54 20.99 19.75 15.00 14.11 4.4600 4.20   -6.80%   44.50% 30-Sep-2016 9.25 5.04 44.07 2.07 2.27% 1.62% 08-Nov-2016 9.65 5.26 45.97 2.16 2.18% 1.55%
30-Jun-2016 18-Aug-2016 30-Jun-2016 4 573,603 97,299 83,583 69,494 - 1,301,662 - % 14.57% 5.34% 308,450 185.96 174.93 22.53 21.19 0.00 0.00 4.2200 3.97   18.48%   60.08% 30-Jun-2016 8.33 4.48 36.97 1.97 2.70% 0.00% 18-Aug-2016 9.48 5.10 42.08 2.25 2.38% 0.00%
30-Jun-2016 19-Apr-2016 31-Mar-2016 3 555,028 82,768 69,571 58,653 89,428 1,319,846 152.47% 12.53% 4.44% 308,375 179.98 169.27 19.02 17.89 29.00 27.27 4.2800 4.03   -21.01%   27.42% 31-Mar-2016 6.82 3.79 35.86 1.59 2.79% 4.25% 19-Apr-2016 6.84 3.80 35.96 1.60 2.78% 4.24%
30-Jun-2016 02-Feb-2016 31-Dec-2015 2 542,879 96,128 83,196 74,253 - 1,279,692 - % 15.32% 5.80% 308,359 176.05 165.56 24.08 22.64 0.00 0.00 4.1500 3.90   65.66%   108.46% 31-Dec-2015 5.93 3.37 24.63 1.43 4.06% 0.00% 02-Feb-2016 5.62 3.19 23.34 1.35 4.28% 0.00%
30-Jun-2016 17-Nov-2015 30-Sep-2015 1 519,119 66,949 54,230 44,822 40,102 1,255,509 89.47% 10.45% 3.57% 308,479 168.28 158.31 14.53 13.67 13.00 12.23 4.0700 3.83   3.25%   -6.95% 30-Sep-2015 5.70 3.39 39.23 1.40 2.55% 2.28% 17-Nov-2015 6.20 3.68 42.67 1.52 2.34% 2.10%
30-Jun-2015 21-Aug-2015 30-Jun-2015 4 527,800 70,053 54,249 43,411 - 1,187,019 - % 10.28% 3.66% 308,316 171.19 160.96 14.08 13.24 0.00 0.00 3.8500 3.62   -5.69%   -0.15% 30-Jun-2015 4.43 2.59 31.46 1.15 3.18% 0.00% 21-Aug-2015 4.99 2.91 35.44 1.30 2.82% 0.00%
30-Jun-2015 21-Apr-2015 31-Mar-2015 3 551,053 68,256 56,295 46,032 52,414 1,190,110 113.86% 10.22% 3.87% 308,318 178.73 168.05 14.93 14.04 17.00 15.98 3.8600 3.63   29.23%   0.41% 31-Mar-2015 4.48 2.51 30.01 1.16 3.33% 3.79% 21-Apr-2015 4.80 2.69 32.15 1.24 3.11% 3.54%
30-Jun-2015 22-Jan-2015 31-Dec-2014 2 535,558 87,194 47,900 35,620 - 1,141,073 - % 8.94% 3.12% 308,398 173.66 163.33 11.55 10.86 0.00 0.00 3.7000 3.48   -26.05%   -15.41% 31-Dec-2014 4.49 2.59 38.87 1.21 2.57% 0.00% 22-Jan-2015 4.35 2.50 37.66 1.18 2.66% 0.00%
30-Jun-2015 11-Nov-2014 30-Sep-2014 1 524,487 74,997 60,078 48,169 37,005 1,313,700 76.82% 11.45% 3.67% 308,380 170.08 159.95 15.62 14.69 12.00 11.29 4.2600 4.01   10.79%   33.53% 30-Sep-2014 8.42 4.95 53.91 1.98 1.86% 1.43% 11-Nov-2014 4.62 2.72 29.58 1.08 3.38% 2.60%
30-Jun-2014 25-Aug-2014 30-Jun-2014 4 536,321 61,342 54,910 43,478 - 1,261,170 - % 10.24% 3.45% 308,354 173.93 163.56 14.10 13.26 0.00 0.00 4.0900 3.85   -5.16%   -13.25% 30-Jun-2014 6.68 3.84 47.38 1.63 2.11% 0.00% 25-Aug-2014 7.08 4.07 50.21 1.73 1.99% 0.00%
30-Jun-2014 28-Apr-2014 31-Mar-2014 3 506,284 62,357 54,746 45,842 46,242 1,267,051 100.87% 10.81% 3.62% 308,285 164.23 154.40 14.87 13.98 15.00 14.10 4.1100 3.86   8.87%   2.12% 31-Mar-2014 6.47 3.94 43.51 1.57 2.30% 2.32% 28-Apr-2014 6.50 3.96 43.71 1.58 2.29% 2.31%
30-Jun-2014 28-Jan-2014 31-Dec-2013 2 499,346 57,575 50,681 42,108 - 1,220,700 - % 10.15% 3.45% 308,257 161.99 152.28 13.66 12.84 0.00 0.00 3.9600 3.72   16.73%   31.48% 31-Dec-2013 4.84 2.99 35.43 1.22 2.82% 0.00% 28-Jan-2014 5.31 3.28 38.87 1.34 2.57% 0.00%
30-Jun-2014 22-Nov-2013 30-Sep-2013 1 516,529 56,403 47,633 36,074 30,832 1,208,633 85.47% 9.22% 2.98% 308,324 167.53 157.52 11.70 11.00 10.00 9.40 3.9200 3.69   -28.03%   75.53% 30-Sep-2013 5.42 3.24 46.32 1.38 2.16% 1.85% 22-Nov-2013 5.19 3.10 44.36 1.32 2.25% 1.93%
30-Jun-2013 26-Aug-2013 30-Jun-2013 4 535,847 58,690 62,759 50,121 - 1,168,975 - % 11.71% 4.29% 308,436 173.73 163.42 16.25 15.29 0.00 0.00 3.7900 3.57   11.65%   72.94% 28-Jun-2013 4.52 2.60 27.82 1.19 3.60% 0.00% 26-Aug-2013 5.15 2.96 31.69 1.36 3.16% 0.00%
30-Jun-2013 30-Apr-2013 31-Mar-2013 3 553,423 65,957 54,502 44,892 49,331 1,134,632 109.89% 9.85% 3.96% 308,324 179.49 168.78 14.56 13.69 16.00 15.04 3.6800 3.46   40.17%   33.61% 29-Mar-2013 4.30 2.40 29.53 1.17 3.39% 3.72% 30-Apr-2013 4.23 2.36 29.05 1.15 3.44% 3.78%
30-Jun-2013 31-Jan-2013 31-Dec-2012 2 551,715 48,870 41,667 32,026 - 1,106,576 - % 7.55% 2.89% 308,238 178.99 168.26 10.39 9.77 0.00 0.00 3.5900 3.37   55.83%   -11.67% 31-Dec-2012 4.62 2.58 44.47 1.29 2.25% 0.00% 31-Jan-2013 4.40 2.46 42.35 1.23 2.36% 0.00%
30-Jun-2013 29-Nov-2012 30-Sep-2012 1 556,231 44,645 33,227 20,552 30,812 1,087,684 149.93% 5.97% 1.89% 308,125 180.52 169.63 6.67 6.27 10.00 9.40 3.5300 3.32   -29.09%   -37.98% 28-Sep-2012 4.45 2.47 66.72 1.26 1.50% 2.25% 29-Nov-2012 4.73 2.62 70.91 1.34 1.41% 2.11%
30-Jun-2012 27-Aug-2012 30-Jun-2012 4 584,547 59,371 38,416 28,982 - 924,837 - % 6.57% 3.13% 308,279 189.62 178.27 9.40 8.84 0.00 0.00 3.0000 2.82   -13.74%   -47.25% 29-Jun-2012 3.93 2.07 41.80 1.31 2.39% 0.00% 27-Aug-2012 4.93 2.60 52.44 1.64 1.91% 0.00%
30-Jun-2012 26-Apr-2012 31-Mar-2012 3 559,418 49,666 43,037 33,599 37,013 1,165,938 110.16% 7.69% 2.88% 308,449 181.36 170.60 10.90 10.25 12.00 11.29 3.7800 3.56   -7.33%   -44.11% 30-Mar-2012 4.03 2.22 37.00 1.07 2.70% 2.98% 26-Apr-2012 4.16 2.29 38.19 1.10 2.62% 2.88%
30-Jun-2012 09-Feb-2012 31-Dec-2011 2 488,636 45,083 42,024 36,258 - 1,155,853 - % 8.60% 3.14% 308,227 158.53 149.02 11.76 11.06 0.00 0.00 3.7500 3.53   9.42%   -38.35% 30-Dec-2011 4.00 2.52 34.00 1.07 2.94% 0.00% 09-Feb-2012 4.28 2.70 36.38 1.14 2.75% 0.00%
30-Jun-2012 21-Nov-2011 30-Sep-2011 1 540,023 58,756 43,718 33,136 33,929 1,147,419 102.39% 8.10% 2.89% 308,446 175.08 164.69 10.75 10.11 11.00 10.35 3.7200 3.50   -39.69%   -27.18% 30-Sep-2011 3.93 2.24 36.58 1.06 2.73% 2.80% 21-Nov-2011 4.01 2.29 37.33 1.08 2.68% 2.74%
30-Jun-2011 18-Aug-2011 30-Jun-2011 4 537,429 61,250 68,290 54,945 - 1,556,119 - % 12.71% 3.53% 437,112 122.95 163.90 12.57 16.76 0.00 0.00 3.5600 4.75   -8.61%   7.90% 30-Jun-2011 4.01 3.26 31.90 1.13 3.13% 0.00% 18-Aug-2011 3.98 3.24 31.66 1.12 3.16% 0.00%
30-Jun-2011 29-Apr-2011 31-Mar-2011 3 437,190 82,957 76,802 60,119 29,719 1,197,285 49.44% 17.57% 5.02% 283,046 154.46 133.33 21.24 18.33 10.50 9.06 4.2300 3.65   2.22%   14.76% 31-Mar-2011 4.01 2.60 18.88 0.95 5.30% 2.62% 29-Apr-2011 3.82 2.47 17.98 0.90 5.56% 2.75%
30-Jun-2011 21-Feb-2011 31-Dec-2010 2 426,489 62,853 86,232 58,813 - 1,444,162 - % 20.22% 4.07% 261,623 163.02 130.07 22.48 17.94 0.00 0.00 5.5200 4.40   29.25%   16.58% 30-Dec-2010 5.35 3.28 23.80 0.97 4.20% 0.00% 21-Feb-2011 5.72 3.51 25.44 1.04 3.93% 0.00%
30-Jun-2011 16-Nov-2010 30-Sep-2010 1 402,125 49,486 70,530 45,502 26,150 1,417,361 57.47% 17.54% 3.21% 261,505 153.77 122.64 17.40 13.88 10.00 7.98 5.4200 4.32   -10.64%   12.29% 30-Sep-2010 5.20 3.38 29.89 0.96 3.35% 1.92% 16-Nov-2010 5.20 3.38 29.89 0.96 3.35% 1.92%
30-Jun-2010 23-Aug-2010 30-Jun-2010 4 391,303 45,659 81,837 50,921 - 1,388,754 - % 20.91% 3.67% 261,535 149.62 119.33 19.47 15.53 0.00 0.00 5.3100 4.24   -2.80%   81.15% 30-Jun-2010 4.54 3.03 23.32 0.85 4.29% 0.00% 23-Aug-2010 5.07 3.39 26.04 0.95 3.84% 0.00%

PBT = Profit before Tax, NP = Net Profit, NP to SH = Net Profit Attributable to Shareholder, Div = Dividend, NP Margin = Net Profit Margin, ROE = Return on Equity, NOSH = Number of Shares, RPS = Revenue per Share, EPS = Earning Per Share, DPS = Dividend Per Share, NAPS = Net Asset Per Share, EOQ = End of Quarter, ANN = Announcement, P/RPS = Price/Revenue per Share, P/EPS = Price/Earning per Share, P/NAPS = Price/Net Asset per Share, EY = Earning Yield, DY = Dividend Yield.


NOSH is estimated based on the NP to SH and EPS. Div is an estimated figure based on the DPS and NOSH. Net Worth is an estimated figure based on the NAPS and NOSH.

Div Payout %, NP Margin, ROE, DY, QoQ Δ & YoY Δ figures in Percentage; RPS, EPS & DPS's figures in Cent; and NAPS's figures in Dollar.

All figures in '000 unless specified.


Analyze this stock with MQ Trader system
  5 people like this.
 
limkokthye holland industries
12/03/2020 4:35 PM
limkokthye hong leong industries become holland industries
12/03/2020 4:38 PM
moven00 Anybody collect more? Gila...duduk diam2 dulu la. Drama baru nak start, lu sudah mau pi toilet.
12/03/2020 4:38 PM
observatory The Malaysia motorcycle data revealed in Annual Reports are Malaysia industry sales volume:

Fin Year Volume Growth
FY2019 573,000 16.0%
FY2018 493,966 4.4%
FY2017 473,000 10.0%
FY2016 430,000 -10.4%
FY2015 480,000 -13.8%
FY2014 556,680 -6.0%
FY2013 592,126

Apparently Malaysia volume last peaked in FY2013. Then it contracted for the next 3 years before growing again in the recent 3 years. So HLIND impressive sales in the last few years are helped by overall industry growth.

However, what I don't know is what has driven the national growth in the past 3 years, and what has contributed to its decline in years before. Note the swing in motorcycle sales is larger than vehicle sales.

Without understanding the past contributing factors, it's difficult to project whether the tailwind enjoys by the company in recent years will continue.
12/03/2020 8:16 PM
limkokthye recession2020
12/03/2020 10:19 PM
limkokthye keong gan liao recession , all stock become worthless
12/03/2020 10:29 PM
enigmatic ¯\_(ツ)_/¯ observatory,
Maybe the rise of GrabFood's popularity contributed to it? Or perhaps youngsters can't afford cars & opted for motorbikes?
12/03/2020 10:32 PM
limkokthye run, cfm recession2020
13/03/2020 8:45 AM
RainT manage to grab this gem at bargain price

meow...
14/03/2020 4:47 PM
observatory @enigmatic ¯\_(ツ)_/¯, you might be right. Grabfood and the likes must have contributed to some of the volume. But I'm not sure by how much. Wonder if there is any industry data that we can refer?
16/03/2020 6:08 PM
observatory The share price of HLIND has been solid until today. While the market panic, HLIND stock price remained firm. But today it dropped 15%. In contrast Oriental dropped about 3%.

It's unclear what might be the firm specific reason contributing to the sharp fall other than general market panic and pessimism over the economy.

What's the possibility that both active & passive fund managers who tracked the MSCI index did not fully dispose their holdings when HLIND was excluded from the index a few months ago, and are forced to dump now?
16/03/2020 6:15 PM
limkokthye c liao, sell all the stock now
16/03/2020 6:57 PM
limkokthye holland industries
16/03/2020 6:58 PM
RainT down n down more
16/03/2020 8:24 PM
observatory Today the closing price is RM6.78. I wonder what kind of scenario it has priced in. Factory and dealer shops' closure due to Covid-19 outbreak? Deep recession?

It's impossible to predict the bottom. But given HLIND's strong balance sheet, it should survive even a deep recession.

As of the lastest quarter, net cash is RM1,254m - RM32m = RM1,223m, or RM3.9 per share. FCF is RM1.6 per share. Even if it just breaks even this year, but recovers next year, I believe there is still a good margin of safety.

For long term investors, the dilemma may be prices for other stocks have also fallen a lot. It's hard to judge the relative attractiveness among them. But HLIND at current price seems quite attractive.
16/03/2020 9:02 PM
SilverHawk Margin call force selling maybe the reason of desperate dumping
16/03/2020 9:08 PM
16/03/2020 9:11 PM
observatory Speculators probably won't buy this stock on margin given its share price is slow-moving? May be fund managers need to dump the stock to meet redemption demand or raising cash to buy more attractive bargains?
16/03/2020 10:01 PM
shareinvestor88 bye tp 2
16/03/2020 11:30 PM
SilverHawk Margin call were based on Margin Of Finance ratio in the portfolio. Yes , there was margin call around few of my friend this few days. So , they need either top up cash or deplete some position on their portfolio ( They can choose to sell any counter in the portfolio to reduce finance amount ). MOF varies among bank. Some bank once reach MOF 55% u need top up or force sell. Some bank will tolerate till MOF 60%, 65% or even 70%.

But based on today's volume, more chance is : the fund desparate dumping. Most likely is foreign fund. A number of counters fall more than 10% include my babies aeoncr. Carlsberg Aji Heineken ... also fall more than ten percent. Banking sector also huge fall recently . There is nothing to do with FA. Some relate this to worsening of macro due to oil crash and covid 19 and even recession.

Dumping to meet redemption demand maybe is another factor.

In economics term, when supply of liquidity ( huge dumping ) is more than demand, price will fall, and vice versa.

If we are in zero margin, non FA related price fall is nothing to impact us immediately. We either just keep or top up. When time move , it's share price will come back.

If we are able to hold for years as long as the value still there or company is still growing, those months long issue shouldn't be a problem to us.
16/03/2020 11:31 PM
observatory Agree. For long term investment, the focus should be on the fundamentals; that the company's long term prospect remains healthy and is not affected by current events.
16/03/2020 11:51 PM
RainT @silverhawk

thanks for share insight
18/03/2020 11:11 AM
limkokthye ho lland industries
19/03/2020 3:48 PM
Darius Tanz Dividend is great, fundamentals great. I'm investing in hlind fr very long term.

https://netflyp.com/2020-dividend-growth-stocks-on-bursa-malaysia/
31/03/2020 8:59 AM
kywoo I understand from dealers that there is a pent up demand for motorcycle in the country. As food delivery is getting very popular day by day the demand for motorcycle is increasing. As income level of the working class is expected to come down, people prefer motorcycle to cars to save cost. Car sale will be down and motorcycle sale will benefit. One can expect Yamaha bike sale to jump up in the coming months. That is good news for the company as 90% of company profit come from Motorcycle sales.
01/04/2020 9:51 AM
kywoo For certain strange reasons motorcycle buyers in Malaysia prefer Yamaha bikes to other brands. That is why Yamaha captures about 51% of local market. On the other hand Vietnamese buyers prefer Honda bikes than any brand. Yamaha is trying hard to capture a higher share but find it an uphill task.
01/04/2020 9:58 AM
kywoo Another good thing about company is that it can increase Yamaha bikes production by 30% to 40% without increasing capital expenditure on plant expansion and hence increasing cash inflow. One can expect the already bloated cash holding to increase even further in coming years. Company has to increase dividend payment substantially to contain growth of cash holding.
01/04/2020 10:08 AM
x3mg33 Makes a lot of sense @kywoo hopefully with it’s strong cash flow the company is able to weather the storm
01/04/2020 3:33 PM
kingJ With the over 1b in bank, now its time to invest in good potential companies
09/04/2020 7:19 PM
Gemstar Yah cash flow and good dividend better than asb
17/04/2020 10:12 AM
Gemstar Below are the data sources, inputs and calculation used to determine the intrinsic value for Hong Leong Industries Berhad.

KLSE:HLIND Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 1 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.8%
Perpetual Growth Rate 10-Year MY Government Bond Rate 3.4%
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for KLSE:HLIND
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year MY Govt Bond Rate 3.4%
Equity Risk Premium S&P Global 7.0%
Industrials Unlevered Beta Simply Wall St/ S&P Global 0.87
Re-levered Beta = 0.33 + [(0.66 * Unlevered beta) * (1 + (1 - tax rate) (Debt/Market Equity))]
= 0.33 + [(0.66 * 0.868) * (1 + (1 - 24.0%) (1.96%))] 0.920
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm) 0.920
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 3.42% + (0.920 * 6.96%) 9.83%
Discounted Cash Flow Calculation for KLSE:HLIND using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Hong Leong Industries Berhad is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.

KLSE:HLIND DCF 1st Stage: Next 5 year cash flow forecast
Levered FCF (MYR, Millions) Source Present Value
Discounted (@ 9.83%)
2020 515.72 Est @ 2.93% 469.58
2021 531.59 Est @ 3.08% 440.73
2022 548.5 Est @ 3.18% 414.07
2023 566.34 Est @ 3.25% 389.28
2024 585.04 Est @ 3.3% 366.16
2025 604.57 Est @ 3.34% 344.54
2026 624.9 Est @ 3.36% 324.26
2027 646.02 Est @ 3.38% 305.23
2028 667.93 Est @ 3.39% 287.35
2029 690.65 Est @ 3.4% 270.54
Present value of next 5 years cash flows MYR3,611
KLSE:HLIND DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value FCF2029 × (1 + g) ÷ (Discount Rate – g)
= MYR690.645 x (1 + 3.42%) ÷ (9.83% - 3.42% ) MYR11,151.18
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
MYR11,151 ÷ (1 + 9.83%)10 MYR4,368.15
KLSE:HLIND Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= MYR3,611 + MYR4,368 MYR7,979.15
Equity Value per Share
(MYR) = Total value / Shares Outstanding
= MYR7,979 / 314 MYR25.41
KLSE:HLIND Discount to Share Price
Calculation Result
Value per share (MYR) From above.
17/04/2020 10:58 AM
kywoo Wow. Your analysis is so complicating that most people may not understand. Although I have been a serious investor for over 45 years and had been a successful one, I never resort to such meticulous and complicating calculation. I wonder if fund managers and stock analyst use such detailed method before they make recommendations for lay investors to buy. Anyway, good job and thanks for effort.
19/04/2020 4:49 PM
Gemstar ;) just sharing
25/04/2020 6:17 PM
FoolsGold "We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity."

guess sja lah...
25/04/2020 6:29 PM
FoolsGold but feels better when buy is supported by highgly qualified guessers..
25/04/2020 6:32 PM
observatory @Gemstar, thanks for your sharing.
I also use discounted cash flow model for the purpose of double checking. I’ll vary the assumed initial FCF, growth rate, perpetual growth, discount rate to get an idea of different fair values under different assumptions. I also reverse calculate from the current price to understand what are the assumptions implied in the current share price.

After doing one company, the exercise can be extended to other companies (although very time consuming). While I don’t believe in a precise fair value (that doesn’t exist), I think such exercise helps to understand relative attractiveness across different companies.

But back to your valuation, I have a few questions/ comments:

1. Your stage 1 is based on 10-year period, not 5 years as mentioned

2. Your discount rate of 9.8% seems fair. I’m wary of using beta to calculate discount rate, as beta changes over time when share price swings. But I think a 10% discount for a conservative company with a huge net cash position is fair.

3. I’m skeptical about the year 2020 FCF projected by the analyst you mentioned (BTW which analyst?). I guess the projection RM515.72 million is related to the trailing 12 months FCF which is RM512 million. But during the MCO of at least 8 weeks, sales & factory operation across all businesses will be severely impacted. There is also potentially weak demand post-MCO. Vietnam associate may face similar challenges. The company may bounce back in 2021, but I think 2020 will see a much lower FCF than the past 12 months.

4. Your FCF growth rate assumption starts at 2.93% in the first year, and it grows faster and faster until 3.4%, and the perpetual growth rate is the highest at 3.42%. Such an assumption is unusual because all businesses face increasing competition over time. A prudent approach might be to start with a higher growth rate, but settle with a lower perpetual growth rate at the terminal stage.

Try varying those assumptions and the fair value can differ substantially.
26/04/2020 12:46 AM
RainT meow
28/04/2020 6:55 PM
pinnaclegrade Par Value 0.50 ...
07/05/2020 9:35 PM
Multibagger @Gemstar, thanks for the good effort. Getting different views and feedback will allow us to learn together. But I have some reservation on the assumptions and generally agree with Observatory's comments on initial FCF and FCF growth assumption (looking at past years average FCF, 500 mil is definitely on the very high side). For me, 300 to 400 mil would be a more reasonable range.

What contribute to the growth assumption? If it is motorcycle sales, which is a durable consumer goods, what drive it? Population growth or inflation? Dont think can derive growth from building materials unit.

There is one area you may want to rethink again in your IV calculation...Has the Non Controlling Interest (or Minority Interest as I, the old timer used to know it in the past) been factored in? If we look at the Income statement and Balance sheet, this NCI is rather substantial.

Anyway, IV is a just an indicator as there are too many variables and assumptions in the model.
BUt one thing is sure, it has lots of cash and is a strong cash generator with minimum CAPEX.
09/05/2020 6:41 AM
RainT hope that HLIND can utilise its cash reserve for expand business

just depend on the motorbike only is not enough

HLIND dont have competitve advantage over ist motorbike business
09/05/2020 5:48 PM
bestman Post removed. Why?
09/05/2020 6:05 PM
ykloh its dumb for the big cash pile to be left idling.
10/05/2020 12:42 AM
RainT meow...
19/05/2020 11:51 AM
pinnaclegrade any idea when will the Q1 report be released?
22/05/2020 2:01 PM
ongkkh Released and profit is dropping...
22/05/2020 6:30 PM
pinnaclegrade understandably, as majority of businesses are affected by the mco /cmco due to coronavirus.. hope there won't be a 2nd wave of infections after raya and business can stabilize and prosper once again
22/05/2020 9:44 PM
mf gap down
22/05/2020 9:45 PM
observatory Dividend is cut from 35sen to 25sen to "preserve" cash!
22/05/2020 10:09 PM
Eric963708 net cash company stil reduce dividend
23/05/2020 3:56 AM
RainT dont care for its prospect

see the cash pile, just hold it till next quarter
23/05/2020 12:32 PM