As of this morning buyers queue @1.10 to 1.14 total 1.05 million against sellers queue @1.15-1.19 total slightly more than 100k...

The are big unhurried cautious buyers, fishing for bargains....

Very strong supports were seen at the buying queue yesterday. With Amundi already already sold and out, would expect scanty sellers.... unless new big sellers surface..

Let's see if 1.14 is the bottom from now on.

Fundamentally, the 3 quarters EPS todate is 9.15 sen, and NTA around 1.30 per share...with very exciting prospects ahead, the share price has been unjustly bashed down to such low level..

Market is truly inefficient and irrational....

Niki, it is the amount of cash, more than 1/3 of the total asset, placed with non-islamic financial institutes that matters.

It is very easy to comply if the management does take care with the placement of the cash pile...:)

Guess Amundi had sold out all the shares invested for EPF. As at end of the day on 7.9.17, estimate bal of shares held :786,000


Date .......... Volume Done... Amundi sold....Estimate Bal...
7th ............. 980,000 ............763,800............786,000
8th ..............412,000
11th.............146,000
12th ............578,900

Likely have sold out at close of the day..

Why they sold ?.... possibly is a Syariah Fund held under Amundi Islamic Malaysia Asset Management....

Just a guess work.... for sharing only.....
Buy/sell at your own risks...

:)

http://www.malaysiastock.biz/Company-Announcement.aspx?id=999255

07.09.17

AMUNDI ( for EPF) sold 763,800
EPF Board bought 300,000

:)

Date .......... Volume Done
7th ............. 980,000
8th ..............412,000
11th.............146,000

As at the latest report on changes in shareholdings, I estimate Amundi held 1.55million shares at at 6th Sept...

Going to finish if they had also sold on the 7th , 8th and 11th...

Some funds buy and some sell....but so far bears are in control... :(

According to the arbitrage prospectus for the rights issue, the original capex for the fabric mill was RM55 million. It has now increased to about RM100 million, excluding land costs. The management has hastened the expansion plan and gone for a larger scale..

Don't they have confidence in the business prospects of the company though they put it as " challenging " for the coming quarter....

There are hiccups and weaknesses in the short term. Over the longer term, we have yet to see how they execute and deliver, bearing in mind the company has more than 40 years of experience in apparel manufacturing and their business partner of Trans Pacific Textiles has 30 years experience in apparel and fabric manufacturing..

On another note, the company is highly likely to regain its Syariah Compliant Status in Nov 17 when it is reviewed in the near future as it was probably non compliant, in the last review, due to more than one third of its asset in cash deposited in non Syariah Compliant Financial Institutes.....

The market has been expecting a weak Q4 since the release of the results of Q3 which was dismal and very disappointing. It was stated in the notes of Q3 that the coming quarter is challenging. The market interpreted the stated " challenging " as a guide to be bad loh...

The share price to date has been hit from all fronts
1) increase in the supply of shares due to completion of the rights issue in 2016
2) loss of the syariah compliant status on 26th May 2017
3) Dismal Q3 results announced on 30th June, 2017
4) Prospects of Challenging business environment for the Q4 17, implying a weak coming financial results.
5) Delay in the completion of the Vietnam plant which is supposed to be completed by late 2017, now may be completed by FY2018, possibly 2Q of calendar year 2018 due to change in design.
6) Lately, sales by fund manager Amundi investing for EPF.

I think all the negative news have been priced in.

Long term prospects are ignored....
1) The impending Vietnam plant will increase the capacity of the apparel manufacturing from the present 14 million pcs to 40 million pcs, almost an increase of 3 folds..There was a change in design and possibly for a much bigger expansion plan than originally planned as the Capex for the plant has been increased from RM22 million to about RM30 million

2) The knitted fabric in Kluang would have a final capacity of 200 million yards. This is actually mind boggling. The revenue from this mill at full capacity would easily exceed RM1billion if the average price of the fabric per yard is more than RM5.

The company only consumes 15.5 million meter for its FY2015 on revenue of about RM350 million.

3) The Fabric Mill would be owned by its 88.9 % subsidiary Trans Pacific Textiles (M) Sdn Bhd with the balance 11.1% owned by a Taiwanese Fabric and apparel manufacturer, Men Chuen Fibre co ltd which was established in 1987 and will provide the technical support. The venture into Fabric manufacturing, going upstream or vertical integration would enable the company to be very competitive. This will help to source more orders for OEM manudacturing from branded manufactures in the future.

Equity participation by Men Chuen would provide not only technical support but a check and balance. Noted that Men Chuen has an option to increase their equity with an additional capital of USD1million which is about another 11-12 % of the paid up capital of RM36 million presently.

Men Chuen Fibre co ltd is a apparel manufacturer for ADIDAS. Would Men Chuen help to source order from Adidas for Prolexus in the future?

Have the market factored in all the future prospects? Market is irrational and can never be efficient.

My 2 SEN of opinion...hehe..

10, 2017 01:25 PM | Report Abuse

Waiting to drop more

Now cannot buy yet

Coming qtr result will be bad also .....expected to drop more


HOW SURE ARE YOU?

Haha! Exactly! That's why the market is said to be inefficient ! There always have buying and selling at irrational prices.... whether it is intelligent or ignorant...

Today done almost 1 million shares, there is a main seller since few days back. I think the main seller would be a spent force soon....

Hopefully, QR4 would not be as bad as what the market anticipated... it could not be good when compared YoY, but would it be good when compared QoQ?
I think it should.....judging by the buying support @1.15 today...

However, I am optimistic of the future prospects.... :)

If the price can go up by 3 folds or more ( hehe) in says 3 years or 5 years, whether you have bought @1.50 or @1.20, would it really make a lot of difference? I think it is going to be the price that we are going to sell that matters.

Is this a warren buffet type of stock that we can hold for the long long term? It seems that it can keep growing in the next 5 years if we have the right management...as according to the expansion plan as per the recruitment advertisement (LOL, we have to get info from there), the revenue can grow 3-5 folds....with improved profit margin...

Unless there is a trade war or Korean War or market crash... the bottom is near... buyers surfaced when it hit 115 and bought up to 117....the seller, one single main seller for today, will soon run out of shares to sell further. hehe...

See if another 500K come out to buy? Haha!

Haha! Possible! But there is also an equal big buyer. Who is the buyer?

In stock market for every seller there is a buyer and each think he is smarter.... haha..

If the tension in North Korea escalate, then very good chance to buy cheaper.... But we shouldn't underestimate the buying power of so many other funds... They are real long term holders than we all ikanbilis leh...

Initial production of the Kluang Facric Mill is for own internal consumption which was 15.5 million meter for FY2015. This means the Fabric Mill already has a ready client to take up all the produces initially and will contribute directly to the bottom line.

The initial start up costs would be relatively insignificant and the learning curve should be short as the Fabric Mill is a joint venture with Men Chuen of Taiwan which holds an 11.1% equity share. Men Chuen has been in Fabric Manufacturing and will provide the technical support..

I am optimistic.. .hehe

1) Vietnam Plant would be ready by 2018. Vietnam Plant apparel capacity 26million pcs to make up total 40 million pcs from the present 14 million pcs.

2) The Fabric Mill ( Prolexus Textile Park) in Kluang with ultimate capacity of 200 million yards...

It needs efforts, capital, time to deliver...

But for investors, just want QRs..

Share price already severely penalised after QR3 and market expectation, I think, a bad QR4..

I also want to buy cheap cheap...haha!

As advertised above

COMPANY OVERVIEW

Prolexus Berhad is listed on the main market of Bursa Malaysia Securities Berhad since 1993. The Group has more than 40 years of experience in apparel manufacturing with manufacturing facilities in Malaysia, China and Vietnam (ready in 2018). We are specialised in high performance sports apparel for world-renowned sportswear brands. With the current workforce of more than 3000 employees, our annual capacity is 14 million pieces and it is projected to reach 40 million pieces upon completion of the expansion plan in Vietnam.

With an ever-increasing demand for innovative, high-quality, performance sports apparel all over the world, Prolexus Group is preparing itself to soar towards even greater heights, by expanding upstream into textile manufacturing. Prolexus Textile Park in Kluang, Johor, of which the Group’s fabric mill will be situated, will have an annual capacity of up to 200 million yards of knitted synthetic fabric, to meet the demand of a global social movement for dynamic, sports-inspired lifestyles. We will be a one-stop textile and apparel provider.

Future is there...

https://www.jobstreet.com.my/en/job/senior-marketing-manager-textile-3360610

Yap888, it is a matter of time. Would it make a lot of difference If it is 1Q18 or 2Q18 or even slightly later.

I always remember this quote:

IT'S BETTER TO BE APPROXIMATELY RIGHT THAN BE PRECISELY WRONG"

:)

After QR3 ,

EPF Board bought 2,715,800 shares of Prolexus from 4.7.2017 to 11.8.2017, likely from.the in-house team.

A check from the Bursa Changes in Shareholders announcements and Annual Reports 2015 and 2016,
Amundi Asset Mangement for EPF held
1,500,000 shares as at 30.10.2015;
3,000,000 shares as at 31.10.2016 and
1,000,000 warrants as at 31.10.2016
(Implying it subscribed for 1,000,000 rights share @rm1.00 with 1,000,000 free warrants for EPF Board; possibly had increased the holdings to 2,000,000 shares b4 the rights issue ex date)....
Then...
Bought 300,000 shares on 10.04.2017
Sold 300,000 shares on 22.8.2017
Sold 500,000 shares on 24.8.2017
Sold 500,000 shares on 25.8.2017

Amundi Asset Management likely still has a balance of 2,000,000 Prolexus shares invested on behalf of EPF.

WE shall see if it continues to dispose...hmmm..

Many seem do not know how EPF invests.

Apart from their own inhouse investment team, EPF appointed many fund managers to invest for them.

More than often, EPF declared selling and buying the same shares on the same day. This is because one of the appointed fund managers is buying and the other selling..

Noted STORMIE IS COMPLETELY NEW IN I3. Now only has 2 posts so far and the 2 are in Prolexus forum.

Hmmmm.......

Expansion is ongoing, isn't it? Authorised and contracted CAPEX as at the reporting date of the 3rd QR was RM87.9 million.

Worldwide apparel demand is growing every year.

After the dual expansions, PROLEXUS would be vertically integrated and become very competitive. With their 40 years experience and long term relationship with the branded manufacturers, the directors must be very confident in sourcing orders from their customers, otherwise would they increase the CAPEX from RM77 million to RM130 million?

Noted some buying from the Chairman and MD though not significant but they didn't sell....and substantial shareholders netted in since QR3 announcement...

There maybe some hiccups in the short term but over the long term, I am confident that Prolexus could be as good if not better than.....( you know which listed co in Bursa..)

1) Present total combined apparel capacity of the 3 factories in Batu Pahat, Penang and China is 14 million pcs.

2) The capacity of the new apparel factory in Vietnam is 26 million pcs.

3) The NEW Knitted Fabric Mill in Kluang ( Prolexus Textile Park) would have an ultimate capacity of 200 million yards.

The whole company only consumed 15.5 millions meters knitted fabric in 2015 and the annual revenue was RM350 million...

The potential revenue after full capacity expansion is mind boggling....

Up to one's prediction.... double up? triple up?, quadruple up? or more?..

Interim report for the quarter ending 30-04-2017 Utilisation of proceeds
On 20 June 2016, the Rights Issue exercise has been completed upon listing of the Rights Shares with free Warrants.
The status of the utilisation of proceeds of RM 56,832,730 raised from the Rights Issues with free Warrants as at 30
April 2017 is as follows:
Purpose Intended Timeframe for Utilisation Proposed Amount
Amount Utilised
as at 30 April 2017 Reallocation
Amount Unutilised as
at 30 April 2017
RM'000 RM'000 RM'000 RM'000
Construction of a new garment factory in Vietnam within 24 months ending 30 June 2018 22,000 (695) - 21,305
Setting up fabric mill within 24 months ending 30 June 2018 33,233 (7,515) 95 25,813
Estimated expenses in relation to Rights Issue within 1 month ended 31 July 2016 1,600 (1,505) (95) -
56,833 (9,715) - 47,118

RM 60,626,000 contracted between the 2nd quarter and 3rd Quarter.

Interim report for the quarter ending 31-01-2017
12. Capital commitments
As at the reporting date, the capital commitment of the Group is as follows:
Property, plant and equipment: RM’000
- Authorised and contracted for. .. 27,306
- Authorised but not contracted for 99,840
-------------------------------------------------------127,146

As reported in the interim report for the quarter ended 30-04-2017
12. Capital commitments
As at the reporting date, the capital commitment of the Group is as follows:
Property, plant and equipment: RM’000
- Authorised and contracted for -------87,932
- Authorised but not contracted for-- 33,683
-----------------------------------------------Total 121,615

RM 87,932,000 has been authorised and CONTRACTED.

Shouldn't the work already in progress?

https://www.amundi.com.my/professionnal/Local-Content/Footer/Quick-Links/Regulatory-Information/Amundi

Amundi Islamic Malaysia
An Islamic fund

https://shenglufashion.wordpress.com/2016/10/16/statistics-global-apparel-market-2016-2018/

GLOBAL APPAREL MARKET IS HUGE!!

AFTER THE DUAL FACTORY EXPANSION, PROLEXUS IS VERY COMPETITIVE AS IT WOULD BE VERTICALLY INTEGRATED AND WITH UP TO DATE MACHINERIES.

NIKE, UA, ADIDAS ALL DEPEND ON THEIR CONTRACT MANUFACTURERS !!

THE BOSSES ARE NOT WORRIED AND WENT AHEAD WITH THE EXPANSION, DOUBLING/TRIPLING UP THE CAPACITY.

WE ARE NOT WORRIED EITHER AS WE ARE LONG TERM INVESTORS FOR 3-5 YEARS!

HAHAHA!

SO PLEASE MIND YOUR OWN BUSINESS !!

We have to response when he did personal ATTACKS!!
THE ADMINISTRATOR SHOULD BAN THOSE WHO COME TO THE FORUM AND MAKE PERSONAL ATTACKS!!

CKCS IS A DOG!!
HE NAMED HIMSELF AS A DOG !!!
OH MY GOD !!!


CKCS--- Cavalier King Charles Spaniel
Dog breed


The Cavalier King Charles Spaniel is a small spaniel classed as a toy dog by The Kennel Club and the American Kennel Club. It originated in the United Kingdom and is one of the more popular breeds in many countries. Wikipedia
Hypoallergenic: No
Life span: 9 – 14 years
Temperament: Playful, Affectionate, Fearless, Adaptable, Sociable, Patient
Colors: Black & Tan, Tri-color, Blenheim, Ruby
Mass: Female: 5.9 – 8.2 kg (Adult), Male: 5.9 – 8.2 kg (Adult)
Height: Female: 30 – 33 cm (Adult), Male: 30 – 33 cm (Adult)

ALL FORUMERS BY NOW KNOW THAT CKCS IS A DOG!! WAKAKAKA!!!

EXTRACT THE BELOW FROM HENYUAN FORUM.

25/08/2017 11:24

paperplane SIME punya bond deal done, splitting soon I guess.
25/08/2017 11:24

CKCS Bahahahaha..........stockraider still got money after bankrupt in Evergreen ah?! LMAO
25/08/2017 11:29

limch Where are those shouting TP RM 37?
25/08/2017 11:52

paperplane when coming down, the dog ckcs come out. Welcome DOG

WHAT HAPPENED TO HENGYUAN LEH!! WHY DIDN'T DROP FROM RM6 SINCE JULY 17TH BUT BROKE ABOVE RM8 LEH!!! SELF PROCLAIMED OIL BARON??? WHY??? WAKAKAKA!!!

GO AND SETTLE WITH PAPERPLANE FIRST LOH BEFORE YOU WANT TO CONTINUE IN I3!! HAHAHA!!

POKAI IDIOT DOESN'T OWN ANY SHARE AT ALL!! CAN ONLY LET OUT FRUSTRACTIONS IN THE HATRED FORUMS !!

RICH PEOPLE LIKE US KEEP BUYING !!

HAHAHA!!

Hahaha!

Likely that there are other funds buying apart from EPF and Manulife.... :)

Still got 101,900 shares buying @1.20 on board....
Finally a big seller throw out 466K shares...
Big buyer from broker No 31 (ubs), I sold 1000 shares after the 466K shares to check out the buying broker...lol

THE ABOVE ARE POSTS BY THIS CKCS IN HENGYUAN FORUM!!

JUDGE YOURSELF !!

CKCS 

Stock: [HENGYUAN]: HENGYUAN REFINING CO BHD

 Jul 17, 2017 04:22 PM | Report Abuse 

If HRC's share price doesn't go down from here I will bow down and call u sifu. I've NOT been wrong abt O&G in the past and my records still stand tall.

Stock: [HENGYUAN]: HENGYUAN REFINING CO BHD

 Jul 17, 2017 04:17 PM | Report Abuse 

Oil baron told u real advice to unload before u start to suffer more calamities. Can u afford to have sleepless nights? Paperplane, let's make a bet...HRC share price will go down from here. Do u have the balls?

THE SELF PROCLAIMED EXPERT!! HAHAHA!!

PLEASE LEH!!!

DON'T MAKE YOURSELF A LAUGHING STOCK IN I3 !!

THE MOST STUPID IDIOT IS CHCS !

BET WITH ALL THE SIFU FORUMERS IN HENGYUAN ON 17TH JULY THAT HENGYUAN SHARE PRICE WILL GO DOWN FROM RM6 OTHERWISE HE WILL BOW TO ALL THE FORUMERS ! HE DIDN'T KEEP TO HUS PROMISE!!

AND DARED TO CLAIM THAT HE WAS AN OIL EXPERT!! HAHAHA!! WAKAKAKA!!!

WHEN HENGYUAN SURGED BEYONG RM8, HE STILL UNSHAMEFULLY WENT TO THE FORUM AND TALK NEGATIVELY AMONG ALL THE SIFUS OF THIS I3 FORUMS.

THIS IS A POKAI FELLOW WITH NO MONEY TO BUY ANY SHARE! NEVER DECLARED ANY SHARE HE BOUGHT AND EVER RECOMMENDED ANY SHARE! BUT ONLY GO TO ALL FORUMS JUST DO PERSONAL ATTACKS!!

THIS IS A REAL IDIOT IN I3 FORUM!

AND HE BEHALF LIKE AN EXPERT BETTER THAN ANYONE EVEN FUND NANAGERS!

TO HIM, EPF AND MANULIFE FUND MANAGERS CONTINUE BUYING PROLEXUS ARE STUPID! HAHAHA!

A POKAI FELLOW WILL FOREVER REMAIN POKAI!!

WAKAKAKA!

Day 5... staying strong 500,000 +.....haha!

Hehehe.....

http://www.malaysiastock.biz/Company-Announcement.aspx?id=995082

Aiyoyoh! Don't know if these fund managers are "stupid" and the ikanbilis commentators are "smart" leh ? OR is it vice versa leh? I am so confused now leh!

Don't know if they were lucky or unlucky leh ? Ha!

Alamah! at the end of the day, 100 shares also cannot get @1.20! Damn stupid fund managers as they didn't bit up their purchase price ! Hehe!

The fund managers really " BoZhaiSi" , now already put up 733,100 shares to buy @1.20!

I really hope they can get !

After they get, then they will " ZhaiSi" !!!

Hehehe !