Going RM 4, the boss sound confident can do well in future

We maintain our BUY call, forecasts and FV of RM3.86 for Ann Joo Resources (AJR), based on 10x FY18F fully diluted EPS, in line with the average of its three mid-cycles’ PE multiples during Jan’12-Sep’13, Jun’05-Jun’08 and Sep’10 till now. AJR’s 1QFY17 net profit came in at 40% and 43% of our and consensus full-year forecast respectively. However, we consider the results within expectations as ASP was exceptionally strong in 1QFY17 (~RM2,200/MT) due to a dip in steel production in China, and we expect it to moderate over the next three quarters.



AJR reported net profit of RM74mil in 1QFY17 as compared to RM5.5mil for 1QFY16 and RM46mil in 4QFY16 due to higher steel ASP and margin expansion. While AJR indicated that demand to remain soft in the 1HFY17 due to seasonal factors that affect construction activity, AJR’s future earnings visibility remains intact for the year underpinned by: 1) ongoing reforms structural reforms in China to curb steel production by cutting 50mil MT which due by end-June 2017 allow AJR to capitalize export market opportunities within the Asean region which relies on China steel supply; 2) infrastructure projects to kick off in the 2HFY17 resulting in better demand for construction steel; and 3) cost leadership via operational flexibility resulting in better margin as compared to other competitors in the market.



We continue to like AJR because: 1) it is one of the dominant local steel players, controlling 20% of the market share; 2) ASP is expected to improve with the imposition of safeguard duties on imported steel till April 2020 (Exhibit 2) and the ongoing China reforms to cut steel supply while local demand is expected to rise by FY17 & FY18, particularly from infrastructure projects; and 3) cost optimisation in production which enables AJR to maintain better margin than its competitors.

mari kita watch good show later.. COMCORP look like superstar now. everything look good..

yeah top up some more.. result out easily touch rm 1.1

sapu sapu while market weak

DCA not yet final their fee hike, still under negotiation.

what the telegram group? can share?

why can buy and sell? i tot only can hold for one year cannot change already

rm 3.50 coming soon

its coming from bottom.. wah wah

look like some big fish collecting last friday.. heard ppl say upcoming result very good

wow good news for censof !! hope today can fly to 0.30 !

wow great look forward 2.0

tomorrow 0.42 easily.. looks very aggressive close at highest

drop so much from 1.0+.. back to around 0.80 first?

yea priva best tomorrow gap up fly fly

tomorrow will gap up open !

sell sell profit so little !!

today fly oh.. tomorrow fly more

dead cat dance like leno edi..

ace stock seems rebound. priva will follow too.

this time come real liao... EPS 5.2 cent.. let say give them whole year earn 0.20 EPS.. X pe 10 also got 2.0 already... not saying got so many cash about 0.50 per share...

lets us see how it goes ~

today maybank research write a "special feature" detail research on ECS after kenanga in march. They say ECS fair value at least 2.0. today finally break new high. more to go as good result and dividend is coming soon ~

great today finally break new high

sign of rebound? looking good today up with some volume.. under value stock !

GHL got good news ... mpay still got good news coming soon ~

M+Online Morning Buzz: Dow-6.84 pts (-0.04%) @ 18,105.77. U.S. stockmarkets fell marginally lower on concerns upcoming unemployment data and economic growth. On the broader market, the S&P 500 ended 0.1% lower as seven of the ten main sectors decline while oil prices extended its gains.

Last minute buying support in index-linked counters propelled the key index higher, in tandem with the gains in key regional indices. The MACD Histogram, however, has extended another red bar. The RSI is overbought. The immediate resistance will be located around the 1,860 level. Support is pegged around the 1,800-1,820 levels.

Sector Focus: Construction, Technology, FBM Ace, Logistic-related

Construction: ECONBHD, BREM
Technology: ECS, DATAPRP, OCK
FBM Ace: PLABS, MPAY
Logistic-related: CENTURY, ILB, COMPLET

Potential Momentum Stocks:

ECONBHD (5253): Price experienced a breakout above RM1.06. TP: RM1.21. SL: RM1.01.

DATAPRP (8338): Monitor for a breakout above RM0.245. TP: RM0.305. SL: RM0.215.

PLABS (0170): Price experienced a breakout above RM0.29. TP: RM0.33-RM0.40. SL: RM0.27.

looking good.. hope it fly tomorrow

yeah insas go go go !

hope this time come for real, big candle bar straight shoot 0.20+ like before :D

friday just cleared t4, monday should will can fly high edi

next week going to fly above 0.40 for sure.. great stock.. very bullish mode

waiting to break new high.. hold tight

great news ! proposed bonus.. woah ! surprise ~ looking forward 0.70 at least before EX date :D

http://www.theedgemarkets.com/my/article/careplus-proposes-1-2-bonus-issue

good news is confirm already.. monday last call ... might limit up on tuesday

Next big wave in medical field, health is coming... hold tight for hovid.. retire fund depends on hovid..

http://www.bloomberg.com/news/articles/2015-03-09/google-ventures-bill-maris-investing-in-idea-of-living-to-500

maybe scicom will interested to take over priva

tomorrow continue fly

the property should can increase the company profit this year.. looking good.. icon action again..

godspeed, you so confident oh! tomorrow i straight buy open price !!

the time will come for censof .. within this month

tomorrow 0.25 ~

this quarter they give dividend again, its show their ability and good cash flow.. can just hold till year end and treat it as long term investment.. this company will never turn wrong... :D next mega trend will be health sector

censof and dnex will definitely become next quarter hot picks. up up up !

dnex result good... hope can boost up censof

good result.. more to go.. hurray

Pharmaniaga Holdings Bhd’s net profit for the fourth quarter ended Dec 31, 2014 jumped 76% to RM36.69 million, from RM20.81 million a year earlier, on the back of a 10% increase in revenue to RM627.1 million, versus RM567.86 million previously.

Pharmaniaga (fundamental: 0.75; valuation: 2.10) also declared a dividend of 12 sen per share. For the financial year ended Dec 31, Pharmaniaga’s net profit surged to RM93.84 million, from RM55.2 millionl; revenue rose to RM2.12 billion, from RM1.95 billion.

hopefully hovid follow as well, jump 20% is good enough..

nice

even it break 0.40 also no need to worry, be confident with it ! am pretty sure this company will up up up because their company will earn more in futures.. very bright prospect .. will buy more if drop..