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SALCON 通用水务建筑专家:这时不进场等几时?(中/Eng)

kakashit
Publish date: Fri, 29 Sep 2017, 03:49 PM
kakashit
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小股不一定是仙股,但小股一定很容易成长

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SALCON BERHAD [S] (8567)

SALCON BHD (8567) Chart
 
 
为什么股价会坐滑梯下跌?
 
 Additionally, due to the adoption of equity accounting method on our major existing construction joint venture projects ie the Langat 2 WTP and Langat CSTP, revenue contributions from these 2 projects are not being recognised during the year.
 
The Property Development Division has yet to contribute financially in FYE 2016 due to the Group’s adoption of the Malaysian Financial Reporting Standards (MFRS) to recognise revenue and profits only upon completion of a development. As a result, this division recorded a loss of RM4.9 million compared to a loss of RM3.2 million the previous year.
 
The Technology Services Division under Volksbahn Technologies Sdn Bhd (VBT) recorded revenues of RM1.92 million during the year derived from the site rental for shared infrastructure as well as bandwidth charges. However, due to the adoption of equity accounting method, the division has yet to contribute financially in FYE 2016.
 
这些accounting treatment你懂的,未来write back就会有很大的盈利暴增潜能。
 
全职投资三年以来,我完全不会什么技术面,但是这张图告诉我,现在就是最低点了,现在不买等何时?
买股票难道不就是Buy low and sell high吗?不然就傻high了。
 
目前四毛的股价有七毛四的净资产支撑,所以股价约为每股净资产的六成。
 
另外就是隐形的股息,Salcon今年六月派发库存股,手握18股可以分到一股,也就是1÷18,周息率可达到5.5%
 
另外就是超强的股票回购,显示公司拥有超强的现金流,公司回购股票,然后派回给我,可以省了我自己加码的水费。
 
During the year under review, the Group bought back 30,009,300 ordinary shares of RM0.50 each of its issued share capital from the open market, at an average cost of RM0.59 per share. The total consideration paid for the share buy-back amounted to RM17.99 million and was financed by internally generated funds
 
所以我认为现在四毛这个价位就是低了,如果再跌我只会买更多,因为我担心公司会被私有化,就酱简单。
 

 

The Group maintains a positive outlook for FYE 2017. Indeed, the Group has secured nearly RM300 million worth of new water and wastewater contracts last year, bringing its total outstanding order book to RM 645 million. In the Malaysia Budget 2017, a total fund of RM 2.0 billion has been allocated to improve capacity and address water supply issues in various states.

Salcon专门从事水利与排污所的工程建筑商,拿到的自然是政府合约,不会跳票。

大家都知道水很重要,那么你知道什么日常活动是最耗费水的吗?

没错,就是洗车,而且每两个礼拜就需要洗一次车。我国平均每户家庭就拥有两辆车,相信现在已经达到每户家庭2.5辆。

所以一旦制水,洗车中心根本就不能营业。

而且自从有了Uber和Grabcar,加上政府的合法化,更多人愿意掏钱购买新车,实现自己的拥车梦。

水的用量只会增加逐年增加,不会减少。用水量增加,废水排污量也会自然跟着增加。所以水务产业永远有的做。

 

2017八月EGM汇报

投资者最担心的就是一间公司的业务过度分化,特别是在这个楼比人多的时期发展产业。幸好执行董事梁国华跟我透露,在大马不会再有产业发展。Selayang res280起好了就收工。

前年在澳洲买下的一块地,现在的中国严管资金外流,连王健林这种超级首富都没有例外。

所以Salcon决定把这块地80%股权卖给Ecoworld国际,给他们去发展,拿回本钱,大大降低国际风险。

随着中国的水务产业完全脱售以及澳洲土地的大量减持,Salcon的业务可说是相当集中于本地,外汇波动可以被忽略。

 

未来展望 (Future Prospect)

接下来相当看好的明日之星就是光纤铺管业务。基本上就是把缆线铺在已经建设好的轨道旁,一来是捷运经过的都是人口密集区,能够把效用最大化,二来是不用特地挖掘地道铺设,省去大量建筑费用。

Image result for Volksbahn Technologies Sdn Bhd

To date, the Group has signed up with Celcom Berhad, U Mobile Sdn Bhd and Digi Telecommunications Sdn Bhd to provide mobile backhaul services bundled with site rental for shared infrastructure. The Group looks to adding more sites from these mobile operators to increase income from this division.

“(吉隆坡10日讯)明讯(MAXIS,6012,主板贸服组)与U Mobile的网络共享协议将终止,加上进行私下配售皆影响未来3年业绩表现,分析员因此下砍2017至2019财政年财测最高15%。”

这也是为什么U-mobile会与明讯终止合约,因为有更新更好的光纤网络可以用了,同时这也是对网民的好消息,更多选择,可获得性价比更高的宽频配套。

Despite the negative results for the first half of the year, the Group expects to recover its position with the completion of the Selayang res280 property project and write back of the expenses relating to the Australia Yarra One project upon completion of the sale. Both are expected to be completed and finalized during the second half of this year.

我没有神算也没有特别关系,Salcon自己讲明了丰收节将会落在2017的下半年。

Salcon 建议持有期:由于12月的季报要在明年2月发布,所以有意买入Salcon的投资者,需耐心等候半年。

 

 

 最新的大股东名单我留意到的是邝汉光,不久前他把在香港上市的富贵集团给卖掉了,现在闲钱很多,就买些股来过日子,例如之前被私有化的the Store,Wzsatu等

Image result for 邝汉光

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Be the first to like this. Showing 5 of 5 comments

Beza

always losing money.

2017-09-29 16:06

lloydlim

我倒是想了解自从流行Uber & Grab以后, 汽车销量会怎样? 我想公交既然方便了,还需要拥车么?

2017-09-29 17:21

kakashit

因为一些中低阶层买了新车后就能靠驾Uber来帮补车贷,这是我在KL所观察到的现象。

所以A B型不超过80k的车款还是会卖到很好,不断增加,如Bezza、Persona甚至是City

2017-09-30 09:21

keyin

Good sharing, salcon profitable year is 2018

2017-09-30 09:41

andyhard

why got writeback of the yarra project expenses? May I know which quarter it incurred and the amount

2017-11-17 13:02

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