Icon8888 Gossips About Stocks
(Icon) Johore Tin (7) - Finally Delivered A Strong Set Of Results
Johore Tin Bhd (JOHO) Snapshot
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Open
1.24
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Previous Close
1.24
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Day High
1.28
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Day Low
1.24
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52 Week High
04/3/15 - 1.65
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52 Week Low
08/25/15 - 1.21
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Market Cap
119.4M
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Average Volume 10 Days
39.8K
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EPS TTM
0.20
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Shares Outstanding
93.3M
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EX-Date
07/1/15
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P/E TM
6.3x
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Dividend
0.04
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Dividend Yield
2.73%
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Johore Tin released its June 2015 quarterly result today.
With net profit of RM6.7 mil, latest quarter EPS is approximately 7.2 sen.
After several quarters of disappointment, I am extremely pleased with the results.
With raw material cost continued to be low and Ringgit weak (which augurs well for the group as it exports more than 70% of its products), the latest quarter's strong performance should be sustainable. I expect the group to continue to perform well going forward.
Based on annualised EPS of 28.8 sen and latest share price of RM1.28, prospective PER is 4.4 times only.
In the March 2015 quarter, Johore Tin's balance sheet deteriorated and alarmed investors.
However, in this latest quarter, there is clear improvement, with various important figures reverting to historic norm.
(a) Inventories In March 2015, inventories spiked to RM148 mil. The ratio of Inventories / Revenue increased to 1.63 times, siginficantly higher than the historic norm of 1 to 1.2 times. This high level of inventories alarmed many investors as they questioned the rationale for stockpiling.
Fortunately, in this latest quarter, inventories had declined to RM112.7 mil. This level is considered reasonable as it is 0.99 times of revenue, in line with historic norm.
(b) Borrowings In the latest quarter, total borrowings declined to RM77.8 mil, 25% lower than the previous quarter's RM104.4 mil. This is definitely a positive development. Net gearing is at a very comfortable 0.29 times.
Concluding Remarks
I very seldom explicitly recommend my readers to take position in a particular stock. Usually I will drop hints here and there if I feel that it makes sense to invest.
However, for this particular stock, I encourage you to have some exposure. My cost is approximately RM1.50. You are more lucky than me as you now have opportunity to buy at RM1.28.
But of course, investment is an art, not exact science. So please don't blame me if you loss money in the future.
Buy at own risk.
==========================
p/s : If you want to learn more about this company, please refer to the articles below.
http://klse.i3investor.com/blogs/icon8888/56747.jsp
http://klse.i3investor.com/blogs/icon8888/69682.jsp
http://klse.i3investor.com/blogs/icon8888/77717.jsp
http://klse.i3investor.com/blogs/icon8888/78002.jsp
http://klse.i3investor.com/blogs/icon8888/77977.jsp
http://klse.i3investor.com/blogs/icon8888/80421.jsp
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Discussions
5 people like this. Showing 30 of 30 comments
tomorrow i want to buy the warrant, i think the mother can go to RM3 in 1-2 years time, so the warrant should be able to hit RM0.8 - RM1 in 1-2 year time. :)
2015-08-26 22:00
Great minds think alike, I am already in warrants
The bulk of my money in mother shares, but I like to add sprinkles of warrants to spice things up a bit
2015-08-26 22:02
Good good, I like it when market sentiment not good, we can take our time to shop around all this good company with great QR because the price drop quite a lot already, huhuhu, i like bear market !!!
2015-08-26 22:06
These few days I bought a lot (but haven't touched my reserve bullets). I love bear, especially satay
2015-08-26 22:09
me too, haven't really touched my reserve bullets yet, that will reserve for really really crazy bear, we never know
2015-08-26 22:16
the good thing is this few weeks, after good QR a lot counter will continue to drop, hahaha, we can take our time to slowly average down, very easy play, no need tension tension have to place order quick quick like normal time, hahahha
2015-08-26 22:20
But need to watch out for the index
If continue to flash green next few days, some of the Bulls will wake up and mess up our shopping trips
2015-08-26 22:22
Good also lah, i load quite a lot super low price index call warrant to prepare for the sudden bull run, hihihi
2015-08-26 22:23
learned from you one lah, wakakaka
this call warrant even lost all principal, i also don't mind, this are part of my this year profit, but when it run, it will be a few hundred % lor, hihihi
2015-08-26 22:28
Bro tkp, after studying the U that you gave me, the only thing I can say is that you are a very evil stock picker
In Chinese, "你的眼很毒”
Wahahahahahahaha
2015-08-26 23:05
The strong point is it's milk division recorded a 111% increase in sale for 1st half 2015 as compared to that of Can-one which suffered a drop of 8%. When the new factory is completed later this year, it will help to support the sale growth and lower production cost.
2015-08-27 00:44
Bro Icon, wahahaha, i take it as a compliment, hahaha.
Congrat to you on the Johotin, i manage to grab some warrant @ 0.155 too, hihihi, will continue to top up.
2015-08-27 09:28
best article EVRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRR
Icon888.................tonight U can order 50 steamed fish head plus Johotin's canned foods..............
cheer
2015-10-05 17:02
BEST article that can bring wealth to people...............
all can enjoy steamed fish head liao tis time.............
2015-10-05 17:07
Icon8888........
earn big money don't kei kei lari leh...
check tis https://www.google.com/search?q=steamed+fish&espv=2&biw=1366&bih=667&site=webhp&source=lnms&tbm=isch&sa=X&ved=0CAYQ_AUoAWoVChMIjNPAwP6qyAIVDQmOCh3J1gNg#tbm=isch&q=malaysia+steamed+fish
2015-10-05 17:12
lu asyik cakap apanama thank.....show action la.... 没点诚意。。。。send la electronic invitation card to invite us to steamed fishhhhhhhhhhhhhhhhhh
haihhhhhhhhhhhhhhhhh...wait till neck 2km long ad
2015-10-05 17:30
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CS Tan
4.9 / 5.0
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
YiStock
Good research
2015-08-26 21:57