Hi Calvin, the article does not mention what is the target FFP in the coming quarters. If you look at the Jan and FEB FFP output it is still below 20K MT. 2023 turn around also due to one off of impairment reversal of 64M so in total 2023 is still not out of wood yet. Although the total plant area is big but only 20,849 ha of the oil palms were in prime mature age cluster (eight to 19 years). RSawit still required to replant the another 17,794ha which has old age plant in coming years. So I wonder how RSAWIT can be considered to be better than JTIASA which is currently net cash, pay dividend and FFP production is 4 times better than RSAWIT plus share base is half of RSAWIT. I guess the main question is still the FFP in the coming quarters.

Net cash 62 cents per share but trading at 42.5 cents.

net cash per share 22 cents. DY 10℅. Now whether they can continue to secure the same scale of timber concession

If not mistaken there is a write off of additional 5M due to fire

1. Mi 20℅ 2.SKPRES 20℅ 3.JTIASA 20℅ 4. ULICORP 20℅ 5. DANCO 20℅ pls ignore my earlier posting

my stock pick are
1. Jtiasa 30℅ 2.ulicorp 30℅ 3.skpres 20℅ 4. Mi 20℅ i 20

AMANAHRAYA Trustees Berhad Amanah Saham Bumiputera 10,629,100 3.5434
Citigroup Nominees (Tempatan) Sdn Bhd Employees Provident Fund Board7,590,647 2.530

UlarSawa, if you are so sure that HY is con counter, please help us to protest in front of EPF.

Whether HY is a good company to invest, who can be 100% sure or guarantee, if cannot why talk bad about others. Investment is not about you can know the result immediately like gambling. No point to argue now. Lets see the share price in the nest couple of months. Good or bad investment later only comment and have a good lesson learn. This forum supposed to discuss not cursing. For example, if you have concern then ask for help and I believe someone will help but decision is on yours. If you believe and later lose money dont curse others, it is your decision. If you dont believe then move on to others counter no need to speculate here that the one trying to help is a con man whatever trying to lure you into supporting the share. Hope we can all agree on disagreement and be gentlemen to whatever outcome after decision made. Lets put all the cursing behind and move forward

Under the section profit before tax you can see there is about 1.1m losses due to foreign and provision. This quarter, company pay 41% tax instead of usual 24% tax which is about additional 600k.so all together is about 1.6 to 1.7m one time loss. Normalise net profit should be around 3.1m and EPS should be around 1.7 cents

In the old days, share price will most likely shoot up when company reported a very good earning. However, after the glove counter fiasco where many are trapped, the sentiment towards cyclical stocks is weakening.

So is Choo Bee catagorised as cyclical stocks, is their products earning is capable to sustain the high margin in the next few quarters is what investor need to know.

One thing observe in the steel company latest QR is that most of them has the concern of demand softening in Q4. Besides mostly reported negative free cash flow and cash level dwindling which should be due to high inventory. So may be this is the reason price is not moving at all despite good earning

Coastal is no longer the traditional O&G counter. It has the 2 very good prospect biz. Liftoat use in the wind RE and the new venture into natural gas (start contributing - will be known in the coming QR). On top of it, it has the recurring income of its Jackup biz. All the biz does not really depend on the oil price. Anyway we shall see the coming QR.

Coastal has evolved to become more RE oriented then the traditional O

That is another possibility that trigger the sell down. The port issues at US but no idea to what extend the impact was.

I was told some have the US import/export data of the company. Again this is just US. FPI export to China, Japan and UK.

Unless someone is from the fpi management team else everything is just guessing. No doubt a single day sell with high volume is a negative sign but still it is not 100%. The 2 possible reason could be insider throwing because of poor result or something negative happens but this sounds too obvious and may trigger SC to probe for any possible insider trading. Anyway generally this is the common conspiracy theory for retail investor. 2nd possibility is that a major shareholder is existing which may not due to any fundemental issue just like PNB exit in 2018. We can only know when next QR is out nexrlt week

LF is net debt 70 cents per share and CB and Melewar not are net cash 30 cents per share and 14 cents per share respectively. In this case LB in fact more expensive then CB and Melewar since all are around pe 6 to 7

temporary drop or terminated? Which is which

Hi stock investor, can help me to ask the management the following question :-
- who is their medical sector client. Hopefully is the glove maker
- What is the forecase composition of the F&B+Medical sector vs the EE and Solar sector
- Any plan to enlarge the share base by bonus issue.

Hi Bullballs, are you able to share what is the current ASP (estimation will do). I study the Q2 and Q3 reports and based on the revenue and estimated capacity output, the ASP for Q2 is around 9 cents and Q3 is around 10 cents. With only 1 cents different, net profit increase around 40M. Correct me if I am wrong

It is all about mathematics.
1. Capacity - How many glove is produced quarterly/yearly
2. What is the Average selling price (I am referring to manufacturing selling price as some glove maker does not have its own distributor)
3. What is the margin

if you count the EBITDA yes the result is very good

result is good if exclude the software amortization of 8.7M which is almost 30% of PBT

Cash/Share 38 cents/share, PE 4. Registered free cash flow of 50M in 2019. Petronas maintain capex. . What is wrong with this counter? Margin Call?

Prospect is ok as belows:-

Project work activities are expected to continue with corresponding utilisation of marine support
vessels driven by steady Work Order flows from the Maintenance, Construction and Modification
(MCM) contract. Meanwhile, the collaboration with DOF Sub Sea recently has further strengthen
our core capabilities and competencies in the area of Inspection, Repair and Maintenance (IRM)
services.
The prospect and sustainability of the Group is enhanced with the recent award of the 4 years
Integrated Hook up and Commissioning (i-HUC) contract for Petronas Carigali Sarawak SKG
package.

value888 comment is valid based on purely quantitative analysis (QA) point of view. However, in investment QA alone is incomplete without qualitative analysis. Based on my experience, QA is to minimise the risk of investing in purely speculative stock but will not be able to accurately identify growth company as QA is focus on past and current financial result. I normally use QA for dividend stocks as I need to ensure company has a very good balance sheet to sustain its dividend payout. For growth company more research effort is required including visiting the company, attending the AGM, talking to the company supply chain vendor etc which is beyond ordinary retail investor capacity.

There are so many companies that is similar to notion i.e. Revenue, UWC, SALUTE and even big giant oversea company like TESLA and UBER of which the share price is trading on future earning. If based on QA alone, you are not able to justify the share price. Whether notion future earning will improve as what has been mentioned in their AR, we shall see in the next quarterly report (s).

In summary, ask yourself before you give comment how detail you have studied the company's background and their future prospect and always put a humble statement after your comment that you may be wrong if you are unsure.

EBITA is almost the same as last year Q4 2018 after removing the one time restructuring cost of 15M and inventory write down of 6M

company cash + investment amount = 1.70 cents/share. 2019 whole year register 500M FCF. Expecting DY will continue to be 5%

DPIH is attractive due to the following
1. Net cash 10 cents/share 57% of market cap. At 0.175, 10 cents is from cash
2. With such a super tiny cap counter, epf and phiem fund is in the top 30
3. Continue to generate free cash flow
4. Company is on expansion mode but will only complete in 2 years time.
5. Roic and EY is > 15% respectively showing the current price is cheap

The company still making profit unlike those in negative earning but share price is much more than dpih

https://klse.i3investor.com/servlets/pfs/131033.jsp?stockOptions=currentHolding&costOptions=averageCost

from the peak of 1.86 this year to 1.30, 30% down in less than 1 month. This is how stock market work. Very uncertain even for good fundamental stocks.Retail investor is always at the mercy of the big player as we dont know their reason to sell.

AT 1.35, Penergy EY is 21% and ROIC is 28%. net cash 36 cents/share, ROE 16.8% Q3 FCF 107M. From FA point of view, Penergy has a very strong balance sheet, they manage to pare down debt > 100M this FY 2019. Anyway stock market is always give you surprise.

I just don’t understand why everyone forget one very basic principle about stock market is that there is no guarantee. The different between good investor and the rest is that good investor has the investment strategy that has higher chance to win. There are so many different way of winning in stock market so long your strategy work in the long run and “consistently” provide you a good return years after years. So learn to be humble and respect others if they do have a good strategy be it TA, FA or whatever A. Is it necessary to criticise others just because you don’t like their way of investment ? How you know that your return is better than others ?

As for Tguan, do not generalise that the better result is purely due to low PE cost. Ask yourself have you really study enough of the company.

Hi 888next Thanks for sharing. Just wonder from the projected sales of 300m in fy20, what is contribution ratio from HDD, EBS and the EMS? Also what is the company target in terms of ratio of contribution both top line and bottom line from the above products

Just like the malay persibahasa "HENDAK SERIBU DAYA, TAK HENDAK SERIBU ALASAN"

Just trust your own judgement if you have really study the fundamental and the future prospect of the company. Why wasting time here to argue with others.

Learn to agree on disagreement and remember right or wrong cannot because of just one counter misjudgment unless you are all in in this counter.

in summary there is no such things as buy and forget. No matter how good is the company, investor must still work hard to read the quarterly report, annual report attending AGM if possible and follow up closely of the company news. Not all biz are good at all time, some are very cyclical and some may be obsolete if the company not able to keep abreast with the market trend. The classic example is Nokia. It is not so much of whether it is short term or long term investment but is about the reason to continue to hold on the stocks or to sell the stocks. Reason can be anything some may based on TA and some may based on FA depending on their own skill. The buy and sell could happen in a very short term if you find there is no reason to continue to hold.

Important is you must have your own reason to buy and own reason to sell and not follow others. Do not afraid of making mistake but more important is to improve your skill from time to time.

https://klse.i3investor.com/servlets/pfs/116318.jsp
1. MAGNI 15%
2. FLBDB 15%
3. CHINWEL 15%
4. ARANK 15%
5. FPI 15%
6. PECCA 15%
7. SURIA 10%

my selection
1. MAGNI 15%
2. FLBDB 15%
3. CHINWEL 10%
4. ARANK 10%
5. FPI 15%
6. PECCA 20%
7. SURIA 15%

Thanks for sharing

Calvin is making an assumption that if a share price spike after the result couple with major shareholder selling and coincidence that the cash balance doesn't increase in tandem with the increase of receivable then this will be a pump and dump stock. In fact, receivable is part of the revenue not profit. There is no way a company can recognize the receivable as profit. Of course if the payment defaulted then it will be a total lost and if payment delay, cash flow will be impacted but not profit unless provision.

So for DUFU case, it is still too early to confirm that the increase of receivable is cooked or non existence and will result in total lost/write off in the coming quarter. In 9 months period in 2018, DUFU registered increase of revenue of 48M compare to the same period in 2017. Now the question is that it is reasonable for the receivable increase to 17M?

Calvin,
I am not interested in any company but I wanted to know is your accounting statement correct whereby if receivable increase YoY, the cash balance must also increase YoY. If not then this is a categorized as falsify the profit?

I can easily find companies that has the increase of receivable YoY but cash balance even reduce YoY.

You must not wrongly advise people if your statement cannot hold water.

Calvin, Are u sure the way you compare is correct, the increase of receivable must always equivalent to increase of cash? Can you use Vitrox to prove your case then?

Year 2018-Sep, 2017-Sep
Inventories 105,410 71,784
Trade and other receivables 148,191 123,863
Financial assets at fair value through profit or loss 0 1,046
Prepayments 4,673 3,192
Current tax assets 770 1,542
Cash and cash equivalents 134,583 150,572

Vitrox Inventory increase from 71M to 105M, receivable increase from 123M to 148M but cash reduce from 150M to 134M

So Vitrox also another pump and dump?

This is considered a serious accusation. I would suggest you buy 100 unit and attend the next AGM meeting if you really want to prove you are right.

As of now the company still registers free cash flow of 9M in Q3 which used in paying dividend, buy back share and pay down debt. Company borrow additional 4m which I think is to balance up the free cash flow and financing activities. cash balance does not really increase from last year due to the increase of inventory, receivable and investment.

Company paid 7 cents dividend in 2018 that is before the Nov result. if cash flow continue to be good meaning no problem of customer payment from the increase receivable, we should expect increase of div payout in March 2019. of course, it may be a bit too late to wait until March 2019.

With cash balance of 37M, buying a piece of land of 7M consider quite reasonable to me. Another thing to note is that Its biggest customer is Seagate and as of Nov result, Seagate still registered strong earning.

Anyway, next Q (feb 2019) will see what happen to the receivable and the inventory.

FPI FA is still intact current PE is still at 9x. Biz is cyclical and always peak at q3. Revenue increase but profit reduce means operation cost is higher now. Hopefully management can explain and improve the operation efficiency and the new plant as reported by focus malaysia will be in operation in q3. Moreover usd is expected to be stay strong in q3

AM is not the only indicator. It has to come with some other indicator like roic, quick ratio, dy, free cash flow. And don’t forget the target price. If you can’t even give a target price then how you know what kind of upside potential you are getting into.

How to calculate target price is based on your ability to use dcf, absolute pe etc and you have to find one that suit you based on your years of experience. Put your self like a biz men, if you want to buy something and sell it later what you need to do?

Besides if the stock continue to give good dividend and the biz is still relevant then you should buy more when the price came down else you should have cut lost earlier. To do so, you have to really study the qualitative part not only quantitative from annual report, quarterly report and any report relevant to the company to know the future of the company biz.

Last but not least if it is so simple just based on one indicator to invest, think everyone become very rich now. So always ask yourself is it too good to be true.

I don't think the normal retail investor understand what is impairment and whether this is an actual lost. Sadly in Malaysia retail investor only see EPS

https://www.backblaze.com/blog/ssd-vs-hdd-future-of-storage/

You sure of your calculation what about additional work of lrt2. I suggest you attend the agm and clarify with the management. Don’t just talk here and try to assume that your view is correct.

GKENT has cash amounting to 81 cents/share. DY > 5% based on the payout in 2017. In fact, it is good to see a open tender going forward which GKENT has the ability to compete now without having to pay for political expenses. After so many years of experience, GKENT has build up the infra and resources and important is GKENT delivered all project although slight delay in LRT2. One cannot compare GKENT now with before it got the LRT2 project.

Please respect each others view and right to vote and don't underestimate others intellectual as though they need you to teach them. If you cannot accept others view why you must insist your view on others.

David Tan
In Q4 2017, the manufacturing expenses is 20M more than Q3 and the admin expenses is 10M more than Q3. Can you explain why? If you can't then on what basis that this high expenses will not continue in 2018

Trendt, appreciate your effort to provide the Audio or sound instrument demand information. Hope in your next write up, you will provide some details on how the audio industry growth can benefit FPI. More in quantitative kind of analysis i.e. expected growth of FPI revenue in meeting the demand and the profit margin.

If you compare Q3 and Q4, it is quite obvious that Q4 manufacturer expenses and admin expenses in Q4 are 20M and 10M more respectively if compare to Q3. if you attend the AGM, you should ask this question why cause such a volatility and how the management is going to reduce such volatility. I think you should avoid question 3 as I dont think any listed company can answer your question on the price volatility and the IV of the company share.