Highlights
KLSE: SCIENTX (4731)       SCIENTEX BHD MAIN : Industrial Products
Last Price Today's Change   Day's Range   Trading Volume
9.02   -0.15 (1.64%)  9.02 - 9.24  153,600
Trade this stock for as low as 0.05% brokerage. Find out more.

Financials


Market Cap: 4,648 Million

Market Cap 4,648 Million
NOSH 515 Million

Latest Audited Result:  31-Jul-2017

Latest Audited Result: 31-Jul-2017
Announcement Date 09-Nov-2017
Next Audited Result: 31-Jul-2018
Est. Ann. Date: 09-Nov-2018
Est. Ann. Due Date: 27-Jan-2019

Latest Quarter:  31-Oct-2018 [#1]

Latest Quarter: 31-Oct-2018 [#1]
Announcement Date 28-Dec-2018
Next Quarter: 31-Jan-2019
Est. Ann. Date: 22-Mar-2019
Est. Ann. Due Date: 01-Apr-2019
QoQ | YoY   -39.21%  |    -25.88%

Annual (Unaudited) ( EPS: 66.66, P/E: 16.04 )

Revenue | NP to SH 3,247,446  |  333,697
RPS | P/RPS 630.25 Cent  |  1.77
EPS | P/E | EY 66.66 Cent  |  16.04  |  6.24%
DPS | DY | Payout % 20.00 Cent  |  2.09%  |  30.88%
NAPS | P/NAPS 4.32  |  2.65
YoY   15.14%
NP Margin | ROE 10.65%  |  14.99%
F.Y. | Ann. Date 31-Jul-2019  |  26-Sep-2019

T4Q Result ( EPS: 52.61, P/E: 17.15 )

Revenue | NP to SH 2,681,724  |  271,070
RPS | P/RPS 520.46 Cent  |  1.73
EPS | P/E | EY 52.61 Cent  |  17.15  |  5.83%
DPS | DY | Payout % 18.98 Cent  |  2.10%  |  36.07%
NAPS | P/NAPS 3.54  |  2.55
QoQ | YoY   -6.47%  |    -1.86%
NP Margin | ROE 10.29%  |  14.86%
F.Y. | Ann. Date 31-Oct-2018  |  28-Dec-2018

Annualized Result ( EPS: 41.66, P/E: 21.65 )

Revenue | NP to SH 2,854,556  |  214,664
RPS | P/RPS 554.00 Cent  |  1.63
EPS | P/E | EY 41.66 Cent  |  21.65  |  4.62%
DPS | DY | Payout % -
NAPS | P/NAPS -
QoQ | YoY   -25.93%  |    -25.88%
NP Margin | ROE 7.75%  |  11.77%
F.Y. | Ann. Date 31-Oct-2018  |  28-Dec-2018


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
31-Jul-2019 26-Sep-2019 31-Jul-2019 4 938,765 176,573 138,617 133,402 51,526 2,225,929 38.62% 14.77% 5.99% 515,261 182.19 182.19 25.89 25.89 10.00 10.00 4.3200 4.32   83.03%   51.10% 31-Jul-2019 8.42 4.62 32.52 1.95 3.07% 1.19% 26-Sep-2019 8.94 4.91 34.53 2.07 2.90% 1.12%
31-Jul-2019 26-Jun-2019 30-Apr-2019 3 828,457 101,433 76,181 72,884 50,931 2,123,822 69.88% 9.20% 3.43% 509,310 162.66 160.78 14.31 14.15 10.00 9.88 4.1700 4.12   -1.17%   19.22% 30-Apr-2019 8.55 5.26 59.75 2.05 1.67% 1.17% 26-Jun-2019 8.56 5.26 59.82 2.05 1.67% 1.17%
31-Jul-2019 19-Mar-2019 31-Jan-2019 2 766,585 100,044 75,768 73,745 - 1,843,805 - % 9.88% 4.00% 489,073 156.74 148.78 15.08 14.31 0.00 0.00 3.7700 3.58   37.41%   8.48% 31-Jan-2019 8.80 5.61 58.36 2.33 1.71% 0.00% 19-Mar-2019 8.46 5.40 56.11 2.24 1.78% 0.00%
31-Jul-2019 28-Dec-2018 31-Oct-2018 1 713,639 72,538 55,342 53,666 - 1,823,695 - % 7.75% 2.94% 488,926 145.96 138.50 10.98 10.42 0.00 0.00 3.7300 3.54   -39.21%   -25.88% 31-Oct-2018 8.59 5.89 78.26 2.30 1.28% 0.00% 28-Dec-2018 9.15 6.27 83.36 2.45 1.20% 0.00%
31-Jul-2018 20-Sep-2018 31-Jul-2018 4 733,154 106,897 89,233 88,287 48,892 1,765,024 55.38% 12.17% 5.00% 488,926 149.95 142.29 18.06 17.13 10.00 9.49 3.6100 3.43   44.41%   22.40% 31-Jul-2018 7.90 5.27 43.75 2.19 2.29% 1.27% 20-Sep-2018 8.57 5.72 47.46 2.37 2.11% 1.17%
31-Jul-2018 20-Jun-2018 30-Apr-2018 3 600,179 76,818 62,498 61,136 48,892 1,716,132 79.97% 10.41% 3.56% 488,926 122.75 116.48 12.50 11.87 10.00 9.49 3.5100 3.33   -10.07%   -8.06% 30-Apr-2018 7.61 6.20 60.86 2.17 1.64% 1.31% 20-Jun-2018 6.71 5.47 53.66 1.91 1.86% 1.49%
31-Jul-2018 22-Mar-2018 31-Jan-2018 2 634,752 85,377 68,908 67,981 - 1,635,984 - % 10.86% 4.16% 484,019 131.14 123.19 14.05 13.19 0.00 0.00 3.3800 3.18   -6.11%   4.28% 30-Jan-2018 8.75 6.67 62.30 2.59 1.61% 0.00% 22-Mar-2018 8.03 6.12 57.17 2.38 1.75% 0.00%
31-Jul-2018 06-Dec-2017 31-Oct-2017 1 658,682 92,566 73,395 72,402 - 1,605,708 - % 11.14% 4.51% 483,647 136.19 127.83 14.97 14.05 0.00 0.00 3.3200 3.12   0.38%   39.08% 31-Oct-2017 8.90 6.53 59.45 2.68 1.68% 0.00% 06-Dec-2017 8.58 6.30 57.31 2.58 1.74% 0.00%
31-Jul-2017 19-Sep-2017 31-Jul-2017 4 646,065 84,283 73,214 72,127 48,029 1,527,344 66.59% 11.33% 4.72% 480,297 134.51 125.39 15.02 14.00 10.00 9.32 3.1800 2.96   8.47%   33.24% 31-Jul-2017 8.66 6.44 57.67 2.72 1.73% 1.15% 19-Sep-2017 8.60 6.39 57.27 2.70 1.75% 1.16%
31-Jul-2017 20-Jun-2017 30-Apr-2017 3 636,154 85,440 67,421 66,497 27,823 1,340,141 41.84% 10.60% 4.96% 463,716 137.19 123.46 14.34 12.91 6.00 5.40 2.8900 2.60   2.00%   8.56% 28-Apr-2017 8.29 6.04 57.81 2.87 1.73% 0.72% 20-Jun-2017 8.37 6.10 58.37 2.90 1.71% 0.72%
31-Jul-2017 22-Mar-2017 31-Jan-2017 2 586,248 81,832 66,319 65,192 - 1,272,444 - % 11.31% 5.12% 462,707 126.70 113.78 14.09 12.65 0.00 0.00 2.7500 2.47   25.23%   0.88% 31-Jan-2017 6.99 5.52 49.61 2.54 2.02% 0.00% 22-Mar-2017 7.25 5.72 51.46 2.64 1.94% 0.00%
31-Jul-2017 15-Dec-2016 31-Oct-2016 1 534,684 66,413 52,987 52,057 - 1,227,846 - % 9.91% 4.24% 459,867 116.27 103.77 11.32 10.10 0.00 0.00 2.6700 2.38   -3.84%   -14.45% 31-Oct-2016 6.52 5.61 57.60 2.44 1.74% 0.00% 15-Dec-2016 6.91 5.94 61.04 2.59 1.64% 0.00%
31-Jul-2016 26-Sep-2016 31-Jul-2016 4 561,057 69,908 54,531 54,135 22,997 1,175,148 42.48% 9.72% 4.61% 229,970 243.97 108.89 23.54 10.51 10.00 4.46 5.1100 2.28   -11.62%   10.68% 29-Jul-2016 12.70 5.21 53.95 2.49 1.85% 0.79% 26-Sep-2016 6.30 2.58 26.76 1.23 3.74% 1.59%
31-Jul-2016 01-Jun-2016 30-Apr-2016 3 543,896 75,791 62,631 61,255 27,366 1,135,703 44.68% 11.52% 5.39% 228,052 238.50 105.56 26.86 11.89 12.00 5.31 4.9800 2.20   -5.21%   42.59% 29-Apr-2016 12.50 5.24 46.54 2.51 2.15% 0.96% 01-Jun-2016 13.04 5.47 48.55 2.62 2.06% 0.92%
31-Jul-2016 22-Mar-2016 31-Jan-2016 2 545,429 79,853 66,652 64,622 - 1,044,624 - % 12.22% 6.19% 226,109 241.22 105.85 28.58 12.54 0.00 0.00 4.6200 2.03   6.19%   79.24% 29-Jan-2016 10.50 4.35 36.74 2.27 2.72% 0.00% 22-Mar-2016 12.94 5.36 45.28 2.80 2.21% 0.00%
31-Jul-2016 17-Dec-2015 31-Oct-2015 1 550,598 80,780 62,753 60,853 - 1,007,440 - % 11.40% 6.04% 225,883 243.75 106.86 26.94 11.81 0.00 0.00 4.4600 1.96   24.42%   101.05% 30-Oct-2015 7.66 3.14 28.43 1.72 3.52% 0.00% 17-Dec-2015 9.15 3.75 33.96 2.05 2.94% 0.00%
31-Jul-2015 29-Sep-2015 31-Jul-2015 4 452,498 76,996 49,841 48,911 29,355 941,638 60.02% 11.01% 5.19% 225,812 200.39 87.82 21.66 9.49 13.00 5.70 4.1700 1.83   13.86%   0.13% 31-Jul-2015 7.10 3.54 32.78 1.70 3.05% 1.83% 29-Sep-2015 7.05 3.52 32.55 1.69 3.07% 1.84%
31-Jul-2015 29-Jun-2015 30-Apr-2015 3 455,250 56,505 43,950 42,958 20,327 851,480 47.32% 9.65% 5.05% 225,856 201.57 88.35 19.02 8.34 9.00 3.95 3.7700 1.65   19.15%   18.21% 30-Apr-2015 6.65 3.30 34.96 1.76 2.86% 1.35% 29-Jun-2015 6.76 3.35 35.54 1.79 2.81% 1.33%
31-Jul-2015 23-Mar-2015 31-Jan-2015 2 462,865 47,298 37,113 36,054 - 807,717 - % 8.02% 4.46% 225,619 205.15 89.83 15.98 7.00 0.00 0.00 3.5800 1.57   19.12%   6.29% 30-Jan-2015 6.63 3.23 41.49 1.85 2.41% 0.00% 23-Mar-2015 6.62 3.23 41.43 1.85 2.41% 0.00%
31-Jul-2015 17-Dec-2014 31-Oct-2014 1 431,071 40,163 31,192 30,267 - 767,176 - % 7.24% 3.95% 221,088 194.98 83.66 13.69 5.87 0.00 0.00 3.4700 1.49   -38.04%   3.15% 31-Oct-2014 7.15 3.67 52.23 2.06 1.91% 0.00% 17-Dec-2014 6.84 3.51 49.96 1.97 2.00% 0.00%
31-Jul-2014 24-Sep-2014 31-Jul-2014 4 415,401 56,014 49,828 48,846 28,745 712,015 58.85% 12.00% 6.86% 221,122 187.86 80.62 22.09 9.48 13.00 5.58 3.2200 1.38   34.41%   61.38% 31-Jul-2014 5.69 3.03 25.76 1.77 3.88% 2.28% 24-Sep-2014 6.95 3.70 31.46 2.16 3.18% 1.87%
31-Jul-2014 19-Jun-2014 30-Apr-2014 3 426,770 48,077 37,165 36,341 17,694 685,679 48.69% 8.71% 5.30% 221,186 192.95 82.83 16.43 7.05 8.00 3.43 3.1000 1.33   7.14%   23.04% 30-Apr-2014 5.80 3.01 35.30 1.87 2.83% 1.38% 19-Jun-2014 5.81 3.01 35.36 1.87 2.83% 1.38%
31-Jul-2014 20-Mar-2014 31-Jan-2014 2 383,490 44,400 34,673 33,920 - 650,096 - % 9.04% 5.22% 221,121 173.43 74.43 15.34 6.58 0.00 0.00 2.9400 1.26   15.60%   32.46% 30-Jan-2014 5.00 2.88 32.59 1.70 3.07% 0.00% 20-Mar-2014 5.92 3.41 38.59 2.01 2.59% 0.00%
31-Jul-2014 17-Dec-2013 31-Oct-2013 1 364,811 37,776 29,835 29,343 - 636,833 - % 8.18% 4.61% 221,122 164.98 70.80 13.27 5.69 0.00 0.00 2.8800 1.24   -3.05%   17.96% 31-Oct-2013 5.63 3.41 42.43 1.95 2.36% 0.00% 17-Dec-2013 5.61 3.40 42.28 1.95 2.37% 0.00%
31-Jul-2013 26-Sep-2013 31-Jul-2013 4 371,243 40,217 31,275 30,267 41,581 621,534 137.38% 8.42% 4.87% 218,850 169.63 72.05 13.83 5.87 19.00 8.07 2.8400 1.21   2.48%   29.41% 31-Jul-2013 5.29 3.12 38.25 1.86 2.61% 3.59% 26-Sep-2013 5.46 3.22 39.48 1.92 2.53% 3.48%
31-Jul-2013 25-Jun-2013 30-Apr-2013 3 345,102 38,239 29,947 29,535 15,057 585,107 50.98% 8.68% 5.05% 215,112 160.43 66.98 13.73 5.73 7.00 2.92 2.7200 1.14   15.34%   49.84% 30-Apr-2013 3.58 2.23 26.07 1.32 3.84% 1.96% 25-Jun-2013 5.04 3.14 36.71 1.85 2.72% 1.39%
31-Jul-2013 27-Mar-2013 31-Jan-2013 2 271,084 33,195 25,999 25,607 - 556,860 - % 9.59% 4.60% 215,004 126.08 52.61 11.91 4.97 0.00 0.00 2.5900 1.08   2.94%   26.87% 31-Jan-2013 3.02 2.40 25.36 1.17 3.94% 0.00% 27-Mar-2013 3.81 3.02 31.99 1.47 3.13% 0.00%
31-Jul-2013 19-Dec-2012 31-Oct-2012 1 241,616 31,329 25,276 24,875 - 550,388 - % 10.46% 4.52% 214,995 112.38 46.89 11.57 4.83 0.00 0.00 2.5600 1.07   6.35%   20.56% 31-Oct-2012 3.21 2.86 27.74 1.25 3.60% 0.00% 19-Dec-2012 3.05 2.71 26.36 1.19 3.79% 0.00%
31-Jul-2012 18-Sep-2012 31-Jul-2012 4 226,014 29,531 25,166 23,389 12,898 524,532 55.15% 11.13% 4.46% 214,972 105.14 43.86 10.88 4.54 6.00 2.50 2.4400 1.02   18.66%   12.57% 31-Jul-2012 2.40 2.28 22.06 0.98 4.53% 2.50% 18-Sep-2012 2.45 2.33 22.52 1.00 4.44% 2.45%
31-Jul-2012 26-Jun-2012 30-Apr-2012 3 226,760 25,514 20,553 19,711 - 513,732 - % 9.06% 3.84% 214,950 105.49 44.01 9.17 3.83 0.00 0.00 2.3900 1.00   -2.34%   -3.32% 30-Apr-2012 2.33 2.21 25.41 0.97 3.94% 0.00% 26-Jun-2012 2.40 2.28 26.17 1.00 3.82% 0.00%
31-Jul-2012 21-Mar-2012 31-Jan-2012 2 214,489 25,839 20,760 20,184 - 494,389 - % 9.68% 4.08% 214,952 99.78 41.63 9.39 3.92 0.00 0.00 2.3000 0.96   -2.18%   5.81% 31-Jan-2012 2.53 2.54 26.94 1.10 3.71% 0.00% 21-Mar-2012 2.51 2.52 26.73 1.09 3.74% 0.00%
31-Jul-2012 15-Dec-2011 31-Oct-2011 1 213,762 26,285 21,390 20,633 15,060 488,393 72.99% 10.01% 4.22% 215,151 99.35 41.49 9.59 4.00 7.00 2.92 2.2700 0.95   -0.69%   21.33% 31-Oct-2011 2.34 2.36 24.40 1.03 4.10% 2.99% 15-Dec-2011 2.51 2.53 26.17 1.11 3.82% 2.79%
31-Jul-2011 28-Sep-2011 31-Jul-2011 4 205,200 25,950 21,788 20,777 - 466,729 - % 10.62% 4.45% 215,082 95.41 39.82 9.66 4.03 0.00 0.00 2.1700 0.91   1.91%   16.53% 29-Jul-2011 2.58 2.70 26.71 1.19 3.74% 0.00% 28-Sep-2011 2.11 2.21 21.84 0.97 4.58% 0.00%
31-Jul-2011 21-Jun-2011 30-Apr-2011 3 217,312 25,885 21,138 20,388 10,753 458,084 52.74% 9.73% 4.45% 215,063 101.05 42.18 9.48 3.96 5.00 2.09 2.1300 0.89   6.88%   21.19% 29-Apr-2011 2.55 2.52 26.90 1.20 3.72% 1.96% 21-Jun-2011 2.70 2.67 28.48 1.27 3.51% 1.85%
31-Jul-2011 15-Mar-2011 31-Jan-2011 2 194,886 23,765 19,736 19,076 - 437,068 - % 10.13% 4.36% 215,304 90.52 37.82 8.86 3.70 0.00 0.00 2.0300 0.85   12.18%   47.44% 31-Jan-2011 1.98 2.19 22.35 0.98 4.47% 0.00% 15-Mar-2011 2.65 2.93 29.91 1.31 3.34% 0.00%
31-Jul-2011 15-Dec-2010 31-Oct-2010 1 186,625 21,041 17,457 17,005 12,931 433,207 76.05% 9.35% 3.93% 215,525 86.59 36.22 7.89 3.30 6.00 2.51 2.0100 0.84   -4.62%   33.60% 29-Oct-2010 1.84 2.12 23.32 0.92 4.29% 3.26% 15-Dec-2010 1.89 2.18 23.95 0.94 4.17% 3.17%
31-Jul-2010 28-Sep-2010 31-Jul-2010 4 191,686 21,710 18,219 17,829 6,459 419,885 36.23% 9.50% 4.25% 215,326 89.02 37.20 8.28 3.46 3.00 1.25 1.9500 0.81   5.98%   24.04% 30-Jul-2010 1.55 1.74 18.72 0.79 5.34% 1.94% 28-Sep-2010 1.89 2.12 22.83 0.97 4.38% 1.59%
31-Jul-2010 23-Jun-2010 30-Apr-2010 3 179,502 19,290 17,244 16,823 6,462 404,958 38.41% 9.61% 4.15% 215,403 83.33 34.84 7.81 3.26 3.00 1.25 1.8800 0.79   30.03%   68.42% 30-Apr-2010 1.45 1.74 18.57 0.77 5.39% 2.07% 23-Jun-2010 1.45 1.74 18.57 0.77 5.39% 2.07%
31-Jul-2010 25-Mar-2010 31-Jan-2010 2 158,714 15,064 13,463 12,938 - 400,410 - % 8.48% 3.23% 215,274 73.73 30.80 6.01 2.51 0.00 0.00 1.8600 0.78   1.65%   133.37% 29-Jan-2010 1.38 1.87 22.96 0.74 4.36% 0.00% 25-Mar-2010 1.43 1.94 23.79 0.77 4.20% 0.00%
31-Jul-2010 16-Dec-2009 31-Oct-2009 1 164,914 14,690 13,215 12,728 10,768 387,654 84.60% 8.01% 3.28% 215,363 76.57 32.01 5.91 2.47 5.00 2.09 1.8000 0.75   -11.45%   68.54% 30-Oct-2009 1.38 1.80 23.35 0.77 4.28% 3.62% 16-Dec-2009 1.38 1.80 23.35 0.77 4.28% 3.62%

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.
 
tftey Profit mostly from Property, hence can't justified to trade at PE 15.
26/06/2019 5:07 PM
Ricky Yeo It is normal for manufacturing division to have lower profit margin than property division. But the asset turnover for manufacturing side is higher than property, hence results in a decent ROIC. But ROIC on property will still be higher nonetheless.

There is a good possibility for manufacturing's profit margin continue to improve slightly in the future as more of their sales shifted from industrial stretch films to food packaging, which is what they have been heading over the past 5 years.

Manufacturing is going to drive bulk of Scientex growth in the future. Property division will keep growing as they purchase more landbank to build affordable homes, but manufacturing will be the main driver through acquisition (whole flexible packaging industry around the world is consolidating), so company profit margin should track closer to manufacturing's profit margin down the line.
27/06/2019 8:17 AM
Ricky Yeo Another less talk about thing of Scientex is its efficiency. Without its ability to generate current level of cash flow, they won't be able to keep acquiring other companies, and without that, the growth would slow down dramatically.

Scientex isn't a company with massive moat, perhaps narrow moat based on economic of scale and a low cost producer by being as efficient in both property and manufacturing. Hence the reason to acquire companies to achieve EoS. On property end, Scientex embrace IBS because it save cost and can complete a property in less time. A typical landed house takes 24 months from start to completion and hand over, they do it in 16-18 months. Faster completion = better cash flow generation.
27/06/2019 8:28 AM
RainT have property segment to support the profit of SCIENTEX
27/06/2019 12:35 PM
RainT SCIENTEX = property company
27/06/2019 12:37 PM
Ricky Yeo My suggestion is this: Try to see things as it is, reduce categorisation. Why do human categories things? To reduce complexity and ambiguity. To make faster decision 'property company, worth PE XX; O&G: Cyclical etc". We do that to companies. We do that to ourselves. "I am a Value Investor", or "I am a growth investors". You put yourself in a box. Sometimes that works, but there is a great cost when things go wrong.

So see a company as it is. Without throwing them into buckets like property, O&G, tech etc. See it as it is by understanding the structure of the business and how much future cash flow can it can generate.
27/06/2019 12:55 PM
shpg22 Net Profit or should I say real cash is cash regardless of which industry. P/E is quite meaningless when view as a single entity.
27/06/2019 5:42 PM
leslieroycarter Fast growing company for manufacturing n property . Acquired property via allotment of shares or cash generated . In this way the debt ratio is kept in check . This counter will perform in good n bad times n thus holding the co for long term will save u the agony of fluctuation of stock prices daily .
28/06/2019 11:01 AM
Greta Philip This sounds like a wise statement until you realize it is means exactly nothing and is a roundabout answer from someone who is more academically inclined than practical experience.

Investing is a concise, analytical activity. Why make it sound so mysterious and vaguely religious?

If you understand business, you will understand that there is no business on earth that has no competitors, peers or similar companies doing the same thing. In short, all business falls under a category or industry.

The challenge is to analyze a business and compare it to peers in the same category/industry/specialization and find out it's moat or competitive advantage versus it's competitors.

Simplified, how does it increase its profit and revenue and grow its market share. By taking it from other people in similar business.

Therefore: categorize.

For scientex you take all the film manufacturers in its industry and compare the costs to produce, the volume they produce versus the price to sell. Then you compare it with peers to understand how efficient they are as buyers will always buy based on a price/quality curve.

Then you take the properties they develop, find out the selling price, the average selling prices of housing in the area, then look at their location/average price and compare that with their profit margins vs that of other competing property developers. Then you will know exactly how efficient their property development eye, marketing and selling strength overall.

After you have dissected each of their business units and categorised each growth pattern Vs peers, they you can understand the entire company as a whole.

Reduce categorization? This is a very Buddha remark which I can't grasp. Investing is literally about picking up the best potential business based on current price/ future growth risk and comparing to every similar company in the category. I don't know any other way to value a business.

Can you elaborate on " understanding structure of the business?" And "seeing a company as it is?" Really interested to learn more.


>>>>>>>>>>>>>>

Posted by Ricky Yeo > Jun 27, 2019 12:55 PM | Report Abuse

My suggestion is this: Try to see things as it is, reduce categorisation. Why do human categories things? To reduce complexity and ambiguity. To make faster decision 'property company, worth PE XX; O&G: Cyclical etc". We do that to companies. We do that to ourselves. "I am a Value Investor", or "I am a growth investors". You put yourself in a box. Sometimes that works, but there is a great cost when things go wrong.

So see a company as it is. Without throwing them into buckets like property, O&G, tech etc. See it as it is by understanding the structure of the business and how much future cash flow can it can generate.
03/07/2019 7:05 AM
Ricky Yeo Why does investing has to be "comparing to every similar company in the category"? A dollar of investment is a dollar of investment regardless of whether that dollar is invested in a property stock or a packaging stock, so why do you want to compare [similar] company in the category?

Comparing similar companies in an industry is useful to create contrast, to find out what things a company is doing differently from others, but investing is not bounded by industry categorisation, but circle of competence.
03/07/2019 11:00 AM
deMusangking aiyoh, this is bursa, a battle ground leh!!!
dun give lecture here lah!!!!

haha
03/07/2019 11:01 AM
Ricky Yeo Welcome musang. Battle ground lol. Continue your battle. Go on.
03/07/2019 11:05 AM
deMusangking when u go to battle ground, u dun mke noise lah!! quiet quiet u go leh!!

haha
03/07/2019 11:06 AM
Ricky Yeo I didn't know it is a battle ground. Different perspective give you different illusions. Don't laugh too loud
03/07/2019 11:09 AM
3iii >>>

The risks in property development are:

1. Insufficient own capital to fund the project.
2. Over-leverage and excessive borrowings.
3. Poor sales for various reasons - poor location, industry related reasons.
4. Cyclical downturn.

Many property projects are launched in the cyclical upturn of the industry. Soon many more jumped in the game.

When the cyclical downturn comes, the weaker developers suffer.

>>>>



OTOH Scientex has done very well in the property development sector. It builds affordable houses which are in demand. Tremendous stewardship offered by the major shareholder in finding its own niche in this sector.
03/07/2019 11:13 AM
deMusangking Ricky Yeo I didn't know it is a battle ground. Different perspective give you different illusions. Don't laugh too loud
03/07/2019 11:09 AM
---------------------------------------------------------------------------------------------------
when go battling, u dun lauff lah!!! u must tiam tiam lah!!!!!\

haha
03/07/2019 11:17 AM
Ricky Yeo Thanks for your advice. Let me think about it.
03/07/2019 11:20 AM
deMusangking aiyoh, lecturer dun think so slow lah!!!!!
u must be teaching in low class uni !!!

haha
03/07/2019 11:22 AM
Ricky Yeo Thinking, Fast and Slow by Daniel Kahneman -recommended reading. Think as slow as possible.
03/07/2019 11:24 AM
deMusangking thinking slow is associated with big skull full of white matters but devoid of gray matters!!!!

but hope u not in the kategori!!!!!!


hahaha
03/07/2019 11:32 AM
Ricky Yeo Oh no, how did someone learn that kind of pseudoscience. Must be from the battles.
03/07/2019 11:38 AM
deMusangking pseudoscience???
show me authorities that say that??!!!!!!


haha
03/07/2019 11:59 AM
Ricky Yeo Should I trust Musang or Daniel Kahneman? - ah, this can be done in fast thinking. Thank you.
03/07/2019 12:15 PM
deMusangking Daniel Kahneman is so low, living on the ground!!!
and
musang is so high up!!! on tree tops!!!

so now u see who is who on the scale??!!!!!

hahaha
03/07/2019 12:17 PM
Ricky Yeo OIC
03/07/2019 12:55 PM
Greta Philip Again with a roundabout Buddha remark. Obviously you have to compare with peers, otherwise how would you know if the company is a good company, a gruesome one, it a value trap if you do not have benchmarks.

How can you value a phone company without first having a benchmark in Huawei, apple and Samsung electronics?

If you do not use industry categorization to value, if you were a banker circle of competence, do you then use your banker mental models of accounting profits and losses only to invest in scentex?

If that is the case, I wish you all the best.

My advice, do not use circle of competence in one industry to benchmark returns in another.

Maybe you should stick to reading and not put money into the stock market. Your investing method would give you too many false positives, aka you won't realize the too good to be true investments, if you don't analyze the competitors and their returns out there.


>>>>>>>>>>

Posted by Ricky Yeo > Jul 3, 2019 11:00 AM | Report Abuse

Why does investing has to be "comparing to every similar company in the category"? A dollar of investment is a dollar of investment regardless of whether that dollar is invested in a property stock or a packaging stock, so why do you want to compare [similar] company in the category?

Comparing similar companies in an industry is useful to create contrast, to find out what things a company is doing differently from others, but investing is not bounded by industry categorisation, but circle of competence.
04/07/2019 7:58 AM
Ricky Yeo Perhaps you didn't read what I wrote clearly enough. I never said one shouldn't compare companies within an industry. Comparison between companies are good to understand business models, competitive advantage, market segments and what not.

But when you take that kind of categorial analysis between companies and bring it into valuation, what do you get? Relative valuation aka poor classification.

Please do wish me all the best. I have never used industry categorisation to value. Value comes from the future cash flow a business can generate, in that sense, industry categorisation is irrelevant. Well that goes back to my Buddha remark, do not categorise companies based on industry when doing valuation i.e Uber is a transport company, it should worth [transport industry peers multiples]. No, Uber is a tech company, it should worth [tech industry peer multiples]. Get the point?

Categorisation is also a problem in position sizing/capital allocation. And that is naturally the case when poor classification influence how one does valuation, which in turn influence how much money goes into a particular position.

"Maybe you should stick to reading and not put money into the stock market." - this sentence reveals you more than the advice itself.
04/07/2019 8:33 AM
Greta Philip Advice given without experience is simply assumptions.
04/07/2019 5:34 PM
leslieroycarter Hold is the answer coz its business model of two main activities , one for affordable housing n second manufacturing will b a watch in market .
16/08/2019 11:29 AM
HuatAh8809 Yup, agree
20/08/2019 8:15 AM
azhanmatnordin Strange...Owner keep buying, but price moving down
21/08/2019 12:00 PM
leslieroycarter 2016 given bonus , when will b the next bonus ? Div of 200 for 9000 ringgit share is considered
too low for stock investment unless a special bonus after a few years of continued expansion n increased revenue.
26/08/2019 4:15 PM
Ncm88 TGuan post excellent results, expect scientex to do do as well
30/08/2019 11:12 AM
shpg22 Unlike TGUAN, most Scientex NP come from property. But expect SCIENTEX to do well anyway
01/09/2019 11:19 AM
leslieroycarter i think the price can b supported by major shareholders because of constant buying during dips as shown by the trading done as below....
MR LIM PENG CHEONG 21-Aug-2019 Acquired 347,100 8.186 View Detail
MR LIM PENG CHEONG 21-Aug-2019 Acquired 45,000 8.200 View Detail
MR LIM PENG CHEONG 21-Aug-2019 Acquired 5,000 8.180 View Detail
MR LIM PENG JIN 21-Aug-2019 Acquired 347,100 8.186 View Detail
MR LIM PENG JIN 21-Aug-2019 Acquired 45,000 8.200 View Detail
MR LIM PENG CHEONG 20-Aug-2019 Acquired 500,500 8.257 View Detail
MR LIM PENG CHEONG 20-Aug-2019 Acquired 20,000 8.260 View Detail
MR LIM PENG JIN 20-Aug-2019 Acquired 500,500 8.257 View Detail
MR LIM PENG JIN 20-Aug-2019 Acquired 20,000 8.260 View Detail
MR LIM PENG CHEONG 19-Aug-2019 Acquired 300,000 8.285 View Detail
MR LIM PENG CHEONG 19-Aug-2019 Acquired 20,000 8.277 View Detail
MR LIM PENG JIN 19-Aug-2019 Acquired 300,000 8.285 View Detail
MR LIM PENG JIN 19-Aug-2019 Acquired 20,000 8.277 View Detail
MR LIM PENG CHEONG 16-Aug-2019 Acquired 246,400 8.292 View Detail
MR LIM PENG JIN 16-Aug-2019 Acquired 246,400 8.292 View Detail
MR LIM PENG CHEONG 15-Aug-2019 Acquired 542,400 8.302 View Detail
MR LIM PENG JIN 15-Aug-2019 Acquired 542,400 8.302 View Detail
MR LIM PENG CHEONG 14-Aug-2019 Acquired 705,700 8.360 View Detail
MR LIM PENG JIN 14-Aug-2019 Acquired 705,700 8.360 View Detail
MR ANG KIM SWEE 13-Aug-2019 Acquired 5,000 8.400 View Detail
MR ANG KIM SWEE 13-Aug-2019 Acquired 2,000 8.390 View Detail
MR ANG KIM SWEE 08-Aug-2019 Acquired 5,000 8.446 View Detail
MR ANG KIM SWEE 08-Aug-2019 Acquired 2,000 8.360 View Detail
MR LIM PENG CHEONG 03-Jul-2019 Acquired 1,500 8.640 View Detail
MR LIM PENG CHEONG 03-Jul-2019 Transferred 30,000 - View Detail
04/09/2019 9:49 AM
leslieroycarter There r reasons for the major shareholders to keep buying when its price is falling...
04/09/2019 1:49 PM
Ncm88 Good closing
20/09/2019 5:07 PM
namenisis23 Sudden spike in price, hope to have good result and bonus issue....
20/09/2019 9:23 PM
namenisis23 daibochi record revenue....will scientx follow it as well?
25/09/2019 3:26 PM
Ncm88 Hualao hoseh want fly how high?
26/09/2019 1:34 PM
namenisis23 wah, best quarter ever.... wondering how much it will fly
26/09/2019 1:37 PM
RainT strong pofit
26/09/2019 2:47 PM
LOLANTO tiu.............result so good also no fly
26/09/2019 2:57 PM
shpg22 Absolute amazing result. Upgrade immediately to 10.50
26/09/2019 3:16 PM
Ncm88 Sold at 9.00 waiting for retracement
26/09/2019 3:22 PM
msart for mid/lone-term investor can consider to buy Scientx. Post good result. As for long term, Scientx is a good company , roe roic > 10%. not very cheap not that expensive ev/ebit 13.9% but who knows, as it still has growth due to its expanding plans. For short-term trader who looks for profit in days, needs to be extra diligent in finding the right price to buy.
30/09/2019 10:21 AM
Ricky Yeo Scientex targeted $8 bil revenue by 2028 is considered achievable. If based on current's market cap premium over it's current revenue, that would mean Scientex market cap will be around $10.5 bil in 2028. All else equal (P/E unchanged), share price growth should hit 9.5% CAGR.

Based on current profit margin of 10% when $8 bil is achieved, profit for 2028 will be $800 mil +/-, at 15x, which is considered reasonable based on Scientex's ROC, that would value the company at $12 bil, or a share price growth of 11.2% CAGR.
01/10/2019 10:26 AM
Ricky Yeo But keep in mind the return above doesn't include the dividend payout. Dividend should add another 3% +/- to the return, or around 12.5% - 14.2% p.a, which is close to the return of capital of Scientex.
01/10/2019 10:31 AM
谈何容易 Q @ 8.81
02/10/2019 3:14 PM
lhoong bonus coming?
08/10/2019 9:34 AM