THE INVESTMENT APPROACH OF CALVIN TAN
LUXCHEM RESULT VERSUS HARTALEGA RESULT (COMPARE & CONTRAST) Calvin Tan Research
calvintaneng
Publish date: Tue, 27 Oct 2020, 01:33 PM
calvintaneng
0 1,801
Hi Guys,
I have An Investment Approach I which I would like to all.
I have An Investment Approach I which I would like to all.
Hi guys
Today both Luxchem & Hartalega released their great results this afternoon
Let's see
HARTALEGA
SUMMARY OF KEY FINANCIAL INFORMATION
|
|
INDIVIDUAL PERIOD
|
CUMULATIVE PERIOD
|
||||
|
CURRENT YEAR QUARTER
|
PRECEDING YEAR
CORRESPONDING QUARTER |
CURRENT YEAR TO DATE
|
PRECEDING YEAR
CORRESPONDING PERIOD |
||
|
30 Sep 2020
|
30 Sep 2019
|
30 Sep 2020
|
30 Sep 2019
|
||
|
$$'000
|
$$'000
|
$$'000
|
$$'000
|
||
| 1 | Revenue |
1,346,016
|
709,424
|
2,266,103
|
1,349,525
|
| 2 | Profit/(loss) before tax |
682,961
|
137,327
|
955,780
|
258,981
|
| 3 | Profit/(loss) for the period |
549,698
|
104,206
|
770,758
|
198,460
|
| 4 | Profit/(loss) attributable to ordinary equity holders of the parent |
544,958
|
103,867
|
764,677
|
197,930
|
| 5 | Basic earnings/(loss) per share (Subunit) |
15.95
|
3.09
|
22.38
|
5.90
|
| 6 | Proposed/Declared dividend per share (Subunit) |
3.85
|
1.80
|
5.95
|
3.70
|
|
AS AT END OF CURRENT QUARTER
|
AS AT PRECEDING FINANCIAL YEAR END
|
||||
| 7 | Net assets per share attributable to ordinary equity holders of the parent ($$) |
0.9900
|
0.7500
|
||
15.95 sen
Annualized 15.95 x 4 = 63.8 sen
If we assign P/E 30
Then 63.8 x 30 = Rm19.14
At current closing price Rm18.36 Hartalega upside is only 78 sen or 4% more to reach full value
Luxchem
SUMMARY OF KEY FINANCIAL INFORMATION
|
|
INDIVIDUAL PERIOD
|
CUMULATIVE PERIOD
|
||||
|
CURRENT YEAR QUARTER
|
PRECEDING YEAR
CORRESPONDING QUARTER |
CURRENT YEAR TO DATE
|
PRECEDING YEAR
CORRESPONDING PERIOD |
||
|
30 Sep 2020
|
30 Sep 2019
|
30 Sep 2020
|
30 Sep 2019
|
||
|
$$'000
|
$$'000
|
$$'000
|
$$'000
|
||
| 1 | Revenue |
191,260
|
187,488
|
506,033
|
578,325
|
| 2 | Profit/(loss) before tax |
18,847
|
11,352
|
42,259
|
37,365
|
| 3 | Profit/(loss) for the period |
14,169
|
8,243
|
30,792
|
27,538
|
| 4 | Profit/(loss) attributable to ordinary equity holders of the parent |
14,204
|
8,583
|
31,758
|
28,076
|
| 5 | Basic earnings/(loss) per share (Subunit) |
1.59
|
0.96
|
3.55
|
3.20
|
| 6 | Proposed/Declared dividend per share (Subunit) |
0.00
|
0.00
|
1.00
|
1.00
|
|
AS AT END OF CURRENT QUARTER
|
AS AT PRECEDING FINANCIAL YEAR END
|
||||
| 7 | Net assets per share attributable to ordinary equity holders of the parent ($$) |
0.3600
|
0.330
|
||
1.59 sen
Annualized 1.59 x 4 = 6.36 sen
If P/E 30 then 6.36 x 30 = Rm1.90
Currect price 89.5 sen
So Rm1.05 or 117% more to reach Rm1.90
From these figures we SEE that Hartalega is almost fully valued while Luxchem still undervalue
And do you know that Topglove & Hartalega are Top 2 Biggest Customers of Luxchem Nitrile Glove Chemicals?
Warm regards
Calvin Tan Research
Singapore
Disclaimer
All information provided here should be treated for informational purposes only. It is solely reflecting author's personal views and the author should not be held liable for any actions taken in reliance on information contained herein.
OKOK
aikinlai I dun think can uae PE 30 for luxchem.
27/10/2020 1:55 PM
SEE HOW PEOPLE DON'T WANT TO ASSIGN P/E TO LUXCHEM & GLOVES NOW?
NO WONDER AFTER CAREPLUS GOOD RESULT OUT PRICES STILL DID NOT MOVE MUCH
HMMM?
ARE ALL GLOVES NOW OVERVALUED?
THEN HOW NOW?
YESSSS!!!
GO BUY JTIASA!!!
JTIASA IF IMPAIRMENTS NOT INCLUDED HAS A P/E OF LESS THAN 3
JAYA TIASA = GIANT TREASURE
aikinlai I dun think can uae PE 30 for luxchem.
27/10/2020 1:55 PM
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Discussions
2 people like this. Showing 12 of 12 comments
sleeping meh.. assign pe like finding gf so easy want assign how much? zzzz
2020-10-27 14:00
Cloudboy
calvin ....should be pe 50 la.....30 ..so little only
27/10/2020 2:17 PM
Calvin replies
I think we must also read the market pulse from fellow i3 forumers
ALL TAIKO GLOVES LIKE TOPGLOVE, SUPERMAX, HARTA & KOSSAN WE ASSIGNED THEM WITH P/E 30 AS A WHOLE
THAT WAS IN THE EARLY FIERY STAGE
NOW THAT GLOVE BULL HAS MATURED A P/E OF 20 SHOULD BE FAIR
LIKE THIS
STAGE ONE
Running on flat land
Can running very fast
STAGE TWO
Going uphill now. So the run turns to walk
STAGE THREE
Now near mountain summit
No longer running. Hard to walk also as the going get steep
So?
Crawling up slowly
This is why John Templeton said
Bull market is born in pessimism
Grows in skepticism
Matures in optimism
Dies in euphoria
GLOVE BULL IS NOW BETWEEN OPTIMISM & EUPHORIA
2020-10-27 14:24
This article is SUPER MISLEADING to con small children >>> You cannot even use forward PE 30 for Supermax (same industry).... Or else Supermax will go up buy 400% (assume current quarter RM800 million x4 = Forward PE 7.5) to match Harta's valuation of PE 30! BETTER THAN buying LUXCHEM :DDDDD
What's more Luxchem and Harta are from two completely different industry LOL
2020-10-27 23:38
Harta needs luxchem to supply it's nitrile gloves chemical
Out there no more nitrile gloves chemical from now till end 2021
Without nitrile gloves chemical Harta will be in deep deep trouble
Just call Mr Sim of Luxchem and you shall know the truth
2020-10-28 00:00
Hi Calvin. Your thoughts on AmInvest TP of RM0.79 for Luxchem? AmInvest recommends Sell. I have come to realise that with banks, when they sell, it is actually a buy call. What do you think? Thanks.
2020-10-28 10:43
If Luxchem is so good why earn only 1.59sen the current Q reported. Eurospan a furniture maker earn 4.48sen is very much better.
2020-10-28 11:07
Cannot trust Aminvest lah
They gave Target Price for lapsap Mahsing at Rm1.50
Aminvest should change Target Price of Rm1.50 from Mahsing to 79 sen (correct)
And change Target Price of 79 sen for Luxchem to Rm1.50 (correct)
Follow Calvin Tan Research as Calvin done all the research already
2020-10-28 12:00
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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....
LaoTzeAhSir
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2020-10-27 13:53