The US will also impose a new 50% tariff on Chinese syringes and needles this year, while tariffs on personal protective equipment, such as respirators and face masks, rise to 25% from either 0% or 7.5% now. Tariffs on rubber medical and surgical gloves will jump to 25% from 7.5% in 2026.

A CSR company with outages every week.

Capital commitments
Approved Capital Expenditure:-
At 30 September ; At 31 December 2023 2022
RM'000 RM'000
i) Contracted but not provided for 107,000 70,000
ii) Authorised but not contracted for 437,000 263,000

Congrats. TP at 10 baggers if buy at limit down price today.

@observatory & @Multibagger . We need to see where is the money first. In AGM previously, it was highlighted that it's in several subsidiaries. My guess is it's the main cash cow (YAMAHA).The company owns only 69.x% of Hong Leong Yamaha Motor Sdn Bhd. So that cash need to share with Yamaha Motor Co, Japan.

Link : "https://www.cdc.gov/vaccines/hcp/acip-recs/general-recs/administration.html"

This guideline should be pre-Covid. Let's discuss.

Persons administering vaccinations should follow appropriate precautions to minimize risk for disease exposure and spread. Hands should be cleansed with an alcohol-based waterless antiseptic hand rub or washed with soap and water before preparing vaccines for administration and between each patient contact (1). Occupational Safety and Health Administration (OSHA) regulations do not require gloves to be worn when administering vaccinations, unless persons administering vaccinations have open lesions on their hands or are likely to come into contact with a patient’s body fluids (2). If worn, gloves should be changed between patients.

https://www.cdc.gov/vaccines/hcp/acip-recs/general-recs/administration.html

*Note: This guideline is pre-Covid*

General Precautions
Persons administering vaccinations should follow appropriate precautions to minimize risk for disease exposure and spread. Hands should be cleansed with an alcohol-based waterless antiseptic hand rub or washed with soap and water before preparing vaccines for administration and between each patient contact (1). Occupational Safety and Health Administration (OSHA) regulations do not require gloves to be worn when administering vaccinations, unless persons administering vaccinations have open lesions on their hands or are likely to come into contact with a patient’s body fluids (2). If worn, gloves should be changed between patients.

@magus, double guarantee from your post. you in the BOD ?

Posted by magus > Aug 25, 2020 4:37 PM | Report Abuse

this current Q4 FY2020, guaranteed no dividends, price will drop further as this qr loss is guaranteed.

2.34 is not high . . 6.xx dollars is high :)

@JohnGenting, i.dont think Wikipedia is correct You can check the annual report .

I just checked the latest annual reports again and don't see it as subsidiary or associate company.

https://www.thestar.com.my/business/business-news/2016/09/30/genting-malaysia-unit-sells-genting-hk-stake-at-lowest-sanctioned-price

Genting Malaysia's 2016 annual report
"06 APRIL 2016
Announcement of the proposed renewal of shareholders’
mandate for the disposal by Resorts World Limited (“RWL”)
of the entire 1,431,059,180 ordinary shares of US$0.10 each
in Genting Hong Kong Limited (“GENHK”) (“2016 Disposal
Mandate”)."

The increase in other income of the Group by RM1,136.9
million, from RM655.2 million in 2015 to RM1,792.1 million
in 2016 was mainly due to recognition of one-off gain
of RM1,272.9 million from the disposal of the Group’s
investment in Genting Hong Kong Limited (“GENHK”),
offset by lower foreign exchange gains on the Group’s USD
denominated assets in 2016 compared to 2015

Genting Malaysia 's 2017 annual report
"Net profit declined by 62% to
RM1,071.0 million, primarily due to the recognition of a oneoff gain from the disposal of the Group’s equity investment in
Genting Hong Kong Limited in 2016"

Genting HK KO also good. No need to push it to Genting group for related party transactions.

Conclusion, Genting HK is not related to Genting Malaysia and Genting Berhad except Lim Kok Thye.

I remember already sold the entire stake of Genting HK a few years ago. The only relations is Lim Kok Thye in both companies. Please check your data.

it's a win for Takaful, win for Rhb and win for shareholders.

We should expect RHB to announce its bancassurance partner soon. The current partnership ends in Jul-2020. Will Takaful win the tender ? :)

For the newbies, please note that all call warrants are not entitled for dividends (be it cash or shares). On EX price, the common share will be adjusted lower and this is negative for call warrants.

When the stock will come back ??? Hmmm. maybe when SUPERMX forum has less than 10 comments a day.
Today still has 265 comments (till 3:58pm)

To understand the glove industry, please watch this https://www.facebook.com/watch/live/?v=251763159141887&ref=watch_permalink
(Credit to equitiestracker)

In FYE2020, AEON Credit registered various business and
non-financial highlights. This included revenue growth of
17.1% year-on-year to reach a new high of RM1,598.78
million. Profit after tax stood at RM292.05 million, a reduction
of 17.6%, attributed mainly to the increased Impairment Loss
of 46.0% compared to the previous year.

"attributed mainly to the increased Impairment Loss"

Last I checked, the moratorium offered by AEONCR is 1 month.

*OUTLOOK AND PROSPECTS*
FYE2021 has begun with unexpected adversity brought on by
the COVID-19 pandemic and other factors. The emergence
of COVID-19 has signifi cantly altered the country’s economic,
business and operating landscape.
Nonetheless, the Company has responded proactively to
this crisis to protect customers and staff, while maintaining
business operations. The crisis has exacerbated existing
operating conditions, but it has also presented opportunities
for improvement.
COVID-19 has expedited the deployment and rollout of
the Company’s digitalisation efforts. It has necessitated a
more thorough assessment of present operations towards
increasing effi ciency and reducing costs. Equally important,
the present scenario has showcased the Board’s and
Management’s concern for the welfare of all AEON Credit
employees, with everyone being retained despite the
downsized operations occasioned by the ongoing Movement
Control Order (“MCO”).

Having mapped out the necessary strategies and
implementation plans, AEON Credit is ready to meet the
business challenges head on and propel itself into the future
with courage, determination and strength. The Company
is prepared to initiate changes to current business policies,
identify potential areas of growth and introduce new products
while looking to maximise successful ongoing business sectors

Free cash flow
2014 2015 2017 2018 2019 TTM
Operating cash flow 158 99 121 177 235 250
Capital expenditure (178) (121) (111) (59) (112) (199)
Free cash flow (20) (22) 9 118 123 50

Good to see Ricky Yeo here. My inputs.

1. Contact lens is a money losing segment. Company has not disclosed the details although it's painted as very rosy.

2. Company execution has been always the weakest among the 4 manufacturers. Expansions plans has been behind the rest due to various issues (including political).

3. Bumper profits should not be assumed as normal to calculate the PE.

4. Because of poor executions, SuperMx has always have a lower PE compared to peers. This remains to be seen if it will change.

Average PER 5 years 17.5 , 10 years 15.9 .
Average sector PE before COVID19 is 30+.
Now during COVID19, sector PE is above 50.

5. I join in the fun to calculate the PAT for Q4. It comes to 120M (conservative).

6. I knew about the SuperMx own branding before the rally but didnt know it will have such a big impact to margins before the Q3 results. So stupid me sold some before Rm4 . I still have a bunch.

@freetospeak,
How do you get the ASP of USD 69 and USD 107 ?

@freetospeak. if you take full revenue x 95% OBM then you should not add the q3 earnings again.

@CHIOVO, Seriously, PE 10 ??? ;)

By going 95% OBM now, they probably have to cut ties with some existing customers. Question is what they will do post Covid19 or several years from now (when their additional capacity comes in).. The competitors will not be HARTA, TOPGLOVE, KOSSAN but the big international names. If SUPERMAX can compete then it's re-rating and game changer.

Seriously, PE 10 ???

By going 95% now, they probably have to cut ties with some existing customers. Question is what they will do post Covid19 or several years from now (when their additional capacity comes in).. The competitors will not be HARTA, TOPGLOVE, KOSSAN but the big international names. If SUPERMAX can compete then it's re-rating and game changer.

DRP only works if you are investing long term.
You will get a form (or your can print 1 from Bursa).
Options.
1) Do nothing. You will get the dividends in cash.
2) Fill in the form. Affix a Rm10 setem hasil. Send it back. You have 2 weeks to do this. You will get the shares. Any balance that cannot full-fill the full-shares are then paid in cash.
For odd lots, you can contact your remisier. They can sell it for you (usually makes sense only when you are also selling the regular lots on the same day so both transactions are combined as 1).

Those looking for more information can refer to the company's PowerPoint slides during the Invest Malaysia earlier this year. They did present the dam information there.

Crack spread up lately.

Dear "professional fund manager", Congrats for beating the market.

https://www.cnbc.com/2019/03/15/active-fund-managers-trail-the-sp-500-for-the-ninth-year-in-a-row-in-triumph-for-indexing.html

"After 10 years, 85 percent of large cap funds underperformed the S&P 500, and after 15 years, nearly 92 percent are trailing the index."

Posted by apple168 > Jul 5, 2019 1:02 PM | Report Abuse
Btw, I m professional fund manager working in Singapore!

Posted by apple168 > Jul 5, 2019 1:22 PM | Report Abuse
My winning rate is near 90%...

cyeec2000,
Tan Poay Seng is the son of Tan Kok Ping.
Father = Chairman. Son = MD .

rainT, pls take calculator punch in 0.50 / 11.30. It's 4.4, not 3.1..
If you are just looking at the upcoming 0.35, that's too short sighted.

Using a growth of target of 15% (past 5 years average but likely cannot continue at this rate), 50% dividend payout ratio, PE of 12 times, MARR of 15% .. .
I am getting the price around Rm16.60.
Guess have to keep it a while first while the boss decides what to do with the billion ringgit in the bank.

apple168, I am not going to rebut your 10 points and will leave to readers to think about them logically. There is only 1 reason why I didn't increase my holdings in MAGNI and I am surprised that you left it out in your "10 reasons not to buy Magni" list.

The key risk in MAGNI is customer concentration risk. The management is of course well aware of it as well. Hopefully that is something that can be addressed soon.

Rm70.3M capex. 0.05 per share. I guess I have tuned down my dividend expectations while they grow this company for a while.

So the company got some money back from GST... but did they forget to announce my dividends ? :(

From company's AR -> Prospects and future plans.

With 21% physical completion left to recognise (physical completion was 32.5% in 2018), construction revenue
and profit from Don Sahong is expected to decline year-on-year in 2019 when compared to 2018. The decline in
construction revenue and profit is however expected to be largely offset by test energy sales in the second half of
2019 as the four turbines are progressively being tested and commissioned.

So some holders are not waiting for coming 200M next year and selling ahead of the "decline in construction revenue and profit " ?

superbull11, May you earn a lot of money in your stocks. Have a good rest.

3iii , I think the > Rm30 for the intrinsic value if you put 20% for the expected growth rate. That's is the number over 10 years data but it has slowed down in the recent years. I will be very happy if they can continue with just 15%.

Made in Vietnam exempted from the trade war list ;)

Previously reported that this company will benefit from the trade war. Cheers.

Or place the money into Islamic accounts, that would be shariah shariah compliance too. Maybe a combinations of all.

They are flushed with cash. In half year they added a cool 120m.
If they reduce to exactly 35%, then they might lost it again on the next review.
So far we are just speculating on this special dividend.
Company can propose to buy something to use up the cash.
They can just ignore this shariah thing and continue to hold the cash. We can then go to the AGM and make some noise.
Enterprise Value / EBITA only at 6.85 . Good and cheap ;)

musangkingfarmer, you didn't add the cash generated for the q3.

RHB RESEARCH (20 Jewels 2019 Edition)
Investment Case
Fair value. Our estimated fair value range of MYR2.50-2.71 is based onFY19F P/E of 12-13x, near +2SD of Chin Well’s 7-year historical mean.
We think our valuation is justifiable, as it is premised on a widening product portfolio, shifting global demand, consistent dividend payout, and sturdy financials under prudent management. That said, our valuation is still conservative, considering that the counter is at a 13-20% discount to Bursa Malaysia Industrial Production Index’s 5-year historical -2SD of 15x, given its relatively smaller market cap for now.
Chin Well currently trades at a forward P/E of just 9x, while the 2-year earnings CAGR stands at 10%.
Key risks include volatility in global wire rod and zinc ingot prices, global political uncertainties, and weaker demand.

http://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=192785&name=EA_DS_ATTACHMENTS

http://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=192786&name=EA_DS_ATTACHMENTS

Philip,
Please help to take a look at MFCB. I would like to hear your opinion on their upcoming hydro dam next year. At this point, it's still a speculative stage as the cash has yet to come in. Thanks.

A lot of bomoh in this forum.

Average PE for the past 5 years should be 8.x times. In 2015, it hit the max 10.x before came crashing down.

Posted by wakarimas > Mar 31, 2019 5:58 PM | Report Abuse
anyone know magni previous PE value around how much?

Upcoming Q1 is for Jan till Mar. Crack spread was still very weak then. Hopefully they don't lose money.

Looking at the crack spread in the last month, the worst should be over.

Thanks. I found it online.

https://www.theedgemarkets.com/article/yamaha-expected-remain-hlis-main-earnings-driver