to announce an very encouraging results soon (even in MCO period)...stay tune.....

break-out resistant level.....fly toward RM2.40 first

Haha. You should invest into TAFI

shit loh.....better sale today b4 "normalised"

Refer to my earlier comments dated 13/9, UOB has given a TP of RM2.15 based on 32x PE. However, I expect a higher TP if you can hold a bit longer, to achieve a TP of RM4.40 (based on industry PE of 40x)

Every current price level is the support level, as it is already "floating on the ground". the only direction is up.

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3196436

Pls refer to my comment dated 13/9, and do your own research. It is still "on the ground", just floating a bit only

Cherry still green, and isn't ripe yet. Please buy back and keep before it is sold out

Haha....Cherry is very conservative....Anyway, this cherry remains fresh and will still hold on

guys n gals.....start to look excited....next immediate TP should be RM2.00

bullrun1985, who do you call in Poh Huat ? When are they going to release the results ?

Another Warren Buffee was born... LOL

wah...u really can tahan !

@wallstreetrookie.....agreed. We should focus on its future growth

Correction : The company is scheduled to transfer to Main Board in 2nd half of next year !

If we refer to UOB research dated 6/9, its TP is RM2.15. This is based on 32x PE of next year PE. However, if you can hold a little longer, say 2 more years, and based on Healthcare Index's 5-year mean of 44x, you could expect RM4.40 (Based on FY2023 EPS of 10sen with PE of 44x). Although this company is a small little company, if you look at its Top30 shareholdings, other than the directors' holdings, other top 30 shareholders are all institutional funds (mainly Public, Affin, Kenanga). Top30 accounted 74% of the total issued shares.
UOB is rather conservative as it did not take in the additional 100% capacity expansion on its 5-floor buiding which to be completed in 3 years. Again, if you can even longer, I can expect its TP to hit RM8.80 ! Why, because this company product is almost "monopoly" and only can produce by them (with FDA approval). And the single-use endoscope will be the "future trend" due to the COVID risk. Hospital will be replace this single-use from re-useable endoscope.
The company profile will be highlighted again once it transfer to Main Board in the 2nd half of the year later....So, BUY while still cheap

Conglats to those who still hold it

bullrun1985.....could be.....(imagine yourself)....

I have transited from BPPLAS to here. I can see a strong organic growth in this Group. I have attended its virtual AGM. Main points :
1) It is confirmed by the Board that the Group will be transferred to Main Board next year. They will recruit a qualified CFO upon transfer to Main Board. (Pls share this info to anyone who interested the post)
2) Its AGM, Mr Lim Eng Chuan keeps emphasize that there will have an organic growth in next coming few years, where they will focus on medical products in future.

I am not going to repeat what has been written in the annual report. Please refer yourself to page 17 and 18 of its annual report. Let me summarise the growth factor below, after getting final update from Mr Lim in the AGM
1) The new 5-storey, costing around RM10mil, should complete by next year, and start operating in Jan 2023. This new building will contribute 70~80% additional capacity. Medical products generate higher profit margin of 40% as compare to its traditional E&E product of 10%. This factor is an encouraging growth factor. I estimate to be more than 200% growth in FY2023. (as compare FY2020)
2) They have completed another smaller building which is expected to contribute 20% to 25% capacity under normal condition (no MCO, lock-down, etc). This itself will contribute additional 30~50% growth in FY2022, given it has higher profit margin in medical product.
3) Other than its 2 main medical products customers, Edwards and Ambu, they have secured a third customer, Mermaid Medical. They have got the FDA approval to produce (OEM) D Clot HD and OWT Type. The mass production is in fact "delay" due to the COVID pandemic. The main 5-storey building is mainly cater for this operation. Mass production should start next year. (This is the main growth factor)
4) According to Mr Lim, once they got the FDA approval to manufacture the medical product. The customers can't simply change suppliers. (I am not sure why.....but he keep emphasize this is the industry practice) . This is definitely another plus point. They have signed the ever-green agreement (not allow to change suppliers ??). Meaning, it is a monopoly business.
5) As for its Fuel Tank, Mr Lim can't give us further update as their customer (Proton / Perduoa) still under lock down, and is expected to resume operation next week only.
6) As for dividend, you know lah....they wion't commit, and just talk (like no talk)

Well, this is the summary from the AGM above. (other than some shareholders asking for cash voucher). Valuation wise, it looks expensive now. But if you factor in the next year growth....it is reasonable. I will discuss more on its valuation part in later part.
Hope this will help in your investing. Be safe !

Just to update u guys that Liihen has started to resume operation effective today. However, Poh Huat factory remains closed. We should expect a recovery in the coming quarter

Hope you all enjoy the gain. As I have reached my destination, and would like to transit to other board. will see u guys in other board soon.

Do u think TP of RM2.40 make sense to you ?

Both Kenanga and Malacca had raised its TP to RM3.15 and RM3.06 respectively, mainly from its capacity expansion (as mentioned above) as well as its improvement in margin even with its 60% workforce.
Personally, I did not revise my own TP as yet....maintaining at RM2.40 !

I have the same concern on its ESG issue too. However, management has indicated its initiative to invest into environment friendly machinery. I have extracted the relevant section from its annual report as below :

The Group has allocated approximately RM35.6 million of CAPEX investments in FY2021 as part of the Group’s ongoing strategic expansion plans to enhance shareholder value. This include a new 9th Cast Stretch Film machine, where installation and commissioning are expected to be completed by the end of 2021. This new technology stretch film machine will not only increase production capacity, but also broaden product offerings to cater for market demands for more sophisticated packaging requirements and sustainability-based packaging.

Management follows the 3Rs concepts of “Recycle, Reuse and Reduce”. We have sufficient waste
management know-how, technical expertise and capabilities to design the manufacturing process flow to incorporate the salvage and reclaim (“Recycle”) of our internally generated plastics waste, rejects and scraps. The recycling capacity utilisations are 71% and 83% in FY2020 and FY2019 respectively. The Recycling process is an enabler which also allows the outer packaging from our suppliers to be reused (“Reuse”) as raw materials for suitable industrial packaging film application.
Reuse further helps us to ensure that we can reduce (“Reduce”) our consumption of virgin raw materials at the same time keeping our waste footprint low, in support of the concept of circular economy and more efficient use of our valuable resources. As the Group remains focused on quality and product innovations, our Plant operations team were able to reduce the total plastics waste, rejects and scraps metric tonnes by 9.8% in FY2020.

After reviewing its 2Q results and refer my earlier comments dated 13/7, my TP of RM2.40 remains intact. My earlier EPS estimate is rather on a low side. Let's remains at 20sen for FY2021 and 22sen for FY2022. At PE of 12x, TP should be in range of RM2.40 to RM2.64. Growth potential still at 26%. Dividends wise, management has declared 6sen in 1H2021. Again, we assume total only 10sen for FY2021 (3+3+2+2). This is on a very conservative side. Its yield still remain attractive at 5.2%. If we assume its total dividend of 12sen, the yield will be 6.3%.
All and all, it is a small and sexy growth company to consider before it is on major broking radar. Its company is still in capacity expansion plan where it will be fully materialized in next year.

https://klse.i3investor.com/blogs/InvesthorsHammer/2021-08-14-story-h1569740417-STOCK_SITTING_IN_A_COVID_PROOF_SECTOR_PAYING_OUT_REGULAR_DIVIDENDS.jsp

Liihen will start to vaccinate its staff via PIKAS on 5/8. Hope the factory can open back after vaccine

https://www.enanyang.my/%E6%9F%94%E4%BD%9B/%E9%BA%BB%E5%9D%A1%E5%B7%A5%E4%B8%9A%E7%96%AB%E8%8B%97%E6%8E%A5%E7%A7%8D%E4%B8%AD%E5%BF%83-8%E6%9C%882%E6%97%A5%E6%8A%95%E5%85%A5%E8%BF%90%E4%BD%9C

I was told Poh Huat will start to vaccinate its staff via PIKAS on 6/8. Hope the factory can open back after vaccine

BPPLAS is allowed to operate at 60% capacity during this MCO period. Given lower raw material prices, you will expected another result record making this coming quarter result announcement

The more comments you guys given, the more KYY will write. Just remain quiet and let him write. There will be no sound when clap with 1 hand.
@OTB, silence is the perfect weapon here. haha.

https://klse.i3investor.com/blogs/kianweiaritcles/2021-07-17-story-h1568038613.jsp

The worst could be priced in, we may be seeing the light in the tunnel soon. However, you may want to wait to really see the light before buying.....https://klse.i3investor.com/servlets/ptres/60173.jsp

@Sardin, Management has indicated to increase its ASP to off-set the material cost increases. With its recent drop (or stabilize) in its material prices, ASP remains at high. Management indicates that a "SUDDEN" increase or decrease in material cost is actually favorable to its margin. Any SUDDEN increase in cost allow them to increase ASP easily but not otherwise. However, a GRADUAL increase or decrease in cost may not favor its margin as it is difficult to pass the cost over to customers.

Referring to my earlier comment dated 27/5, the EPS for FY2021 should be around 20sen (Kenanga estimate at 19.2 sen). Even with current MCO (I actually dont know how to name the current lock-down status), BPPLAS still allow to operate at 60% capacity. Therefore, negative profit impact is minimal whereby it is contra off with better margin in 2Q and 3Q in FY2021. Its past 10-years PE was ranging from 7-16x. So, Let's take average of 12x (which is closed to Kenanga's PE of 13x), my own TP would be RM2.40 with current yield of 5.4% (assume price of RM1.85 with dividend per share of 10sen). Still not really expensive at current level, if you guys are patient enough to wait for the pandemic crisis to be over. Hope this comment help you guys to make some informed decision.

Target to hit RM2.50 by Kenanga !

ASPs to decline in 2HCY21.As resin prices continue to decline, we expect ASPs to gradually follow suit from current levels. It’s important to note that not all selling prices will decline by the same quantum. Generally, more commoditized products will experience faster declines compared to the non-commoditized products. As noncommoditized products tend to be customised for client-specific needs, selling prices tend to be stickier and would not fall as much, allowing plastic packagers to protect their margins. As we expect ASPs to gradually fall in 3QCY21 as they catch up with lower resin prices, we foresee a period of continued margin expansion followed by margin normalisation after ASPs fall in tandem.

https://klse.i3investor.com/blogs/kenangaresearch/2021-07-05-story-h1567828894-Plastics_Packaging_Resilient_Momentum.jsp

Refer to my comment dated 3/12/20, TP of RM2.60 achieved. Affin has just revised its TP to RM2.75. Given more clarity of its prospect, together its recent 1:2 bonus issue + 1:3 free warrants, I believe share price will move higher to RM3.60 soon

bye bye Lii Hen....better switch to Poh Huat if you want exposure in furniture

undervalue

I attended the BPPLAS virtual AGM. the RM35.6 mil CAPEX - to install an additional high-end line which is more environmental friendly is currently 25% completed, and target to complete by end of this year. Capacity is expected to improve by 17% in FY2022 with higher margin by 20% (higher price).
As per its latest quarterly profit of some RM10mil, we can expect it will hit another record high of RM40 mil in FY2021 or EPS of 20sen. Given its historically divided payout of 50%, we could expect anohther record divided of 10sen this year. This translate to PE of 7.5x with yield of 6.7%. the company is debt-free and plan its capital allocation between CAPEX and rewarding shareholders well.
Management is aware the plastic industry is not really environmentally friendly. They are trying new investment to improve on this area too. So, I believe its valuation is expected be be further upgraded once it is in the radar of major research houses.

Just declare 3sen dividend for 1q

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3157976#

Was told AIA fund is buying aggressively....this is an unconfirmed news....I may be wrong...Please don't sue me for giving wrong statement ...

this question was raised too. confirmed by FC that "no more impairment this year"

I attended its online AGM. Chairman mentioned that the quarterly results will be released by this week (tomorrow / day after). He did hint the results "should be good" for this current and next quarter but anything beyond this is "uncertain". They will update the increasing TCE and and BDI trend in the quarterly report too. To me, the management is pro and "on the field" in the industry and have proper capital management in mind. If we assume the industry is on its 10-year low and toward its end of consolidation, it is worth to wait and enjoy it uptrend from here. Just need to wait for few years. Not for short term trade

@Parksonguy, please be sensitive on what you are commenting......please be more factual. Thanks

Hi Derrick ....are you attending the coming AGM ? Please update us. Thanks