VenFx

作者, 不只一家净现金的企业在 Steel sector 。

2017-08-17 17:58

VenFx

ChooBee 是好公司。

2017-08-17 17:59

insulter

功课不错，加油

2017-08-18 14:49

susuan

Can anyone translate?

2017-08-18 17:47

gcke

Using google translation Apps Tool.

English version automatically generated:

CHOOBEE was founded in 1971 and was listed on the Bursa Malaysia in 1994. It is principally engaged in the processing and trading of steel products and steel products. The Group mainly produces and sells Flat-Based products, as well as processing services such as cutting and cutting steel products. Its products are mainly used for infrastructure construction, oil and gas, light iron, water works and general use.
CHOOBEE has continued to make profitable performance over the past 10 years and has not suffered any losses in any fiscal year, showing that its business stability is very high. However, the Group in recent years have been unhappy, especially FY14 and FY15.
The steel sector has been facing a lot of challenges, such as excess production, higher costs, weak demand and so on. China's slowdown in the economy continues to face the problem of excess supply of steel products. In order to improve the situation, Chinese manufacturers dumped steel products at low prices in the world, resulting in steel prices in the FY13-15 during the downturn, but also the impact of local steel products demand. As the steel industry in Malaysia, CHOOBEE's business is also adversely affected, and turnover and profit are all under pressure. After years of downturn, the Chinese government began to implement production control policies in 2016, driving steel prices rebounded in the bottom of 2016.
As the government had already stipulated that the local steelmakers had to purchase hot rolled coils from Megasteel at a price higher than the international price of RM400-500 per tonne, which led to long-term pressure on the middle and lower reaches of the steel industry, including CHOOBEE. About 90% of the group costs from raw materials, that is, hot-rolled coil, while the latter's price rise and fall will be a direct and direct impact on the Group's overall performance. As the product price is based on the international average price may be, the group can not be passed on to the cost of the customer, resulting in the competitiveness of its product prices as foreign manufacturers.
In March 2016, Megasteel officially ceased operation. By freely purchasing cheaper raw materials from foreign countries, CHOOBEE has a better competitive advantage in pricing steel products, thereby increasing overall profitability. As a result, the Group successfully surpassed FY16 nearly five years of high profit, mainly due to the higher average selling price and lower procurement of raw materials prices. Its gross margin from FY15 7% higher to 14% of FY16.
Looking ahead, CHOOBEE intends to restart its export business. As early as 2009, its products have been exported to the United States, Australia and the Middle East countries. However, after the government has asked the steelmaker to pick up Megasteel, the Group immediately ceases its export business, mainly because the price of the product has become less competitive.
Peripheral, Beijing, China in early 2017 decided to cut the number and production of steel manufacturers to improve the situation of excess supply and boost the trend of steel prices. As the world's major steel producer, China's annual output of about 800 m tons. The goal of the Chinese government is to reduce annual production capacity by 200 m tonnes by 2020, which is equivalent to 75% reduction in production.
In the local, government infrastructure projects and the reduction of many real estate projects, and then impact the needs of steel products. The market generally take a cautious attitude, the local steel field is expected to face a lot of challenges, this year's Q2 performance is generally not optimistic. Most dealers are reluctant to purchase steel products in an unfavorable environment, and the manufacturers are doing their best to clean up their existing stocks, leading to a downward trend in Malaysian steel prices. Still, the Malaysian steel industry has signs of recovery in Q3.
It is worth mentioning that CHOBEE's net assets per share and net moving per share (NCAV) are RM4.25 and RM2.88, respectively, higher than its current share price of RM2.21. This is a very rare case in the Malaysian stock market, and CHOOBEE is one of them. In addition, with other local steel industry is not the same, CHOOBEE has a very strong balance sheet. At present, the group holding RM45m cash and RM5m ​​loans, I believe that the only local steel stocks a net cash business.
Obviously, PE is only 7 times the CHOOBEE has a serious underestimation. However, we do not need to hurry to buy, after all, the performance of Q2 may be lower than expected. By then, this will provide you with a good opportunity to buy.
For the stock analysis report is interested in the shares of friends, private PM this page, to learn more!
#CHOOBEE
Purely share!

2017-08-18 17:56

gcke

Hope that helps forumers who don't understand Mandarin.But sometimes such tool has limitation.The generated copy may contain some errors.

Cheers,for a wonderful evening:-)))

2017-08-18 17:57