yes

Good morning KC

Syarikat Takaful ?

No slow down expected this year despite absence of tax holiday

Perodua eyes 4% rise in annual sales after record 2018
BY EMIR ZAINUL
KUALA LUMPUR: Perusahaan Otomobil Kedua Sdn Bhd (Pero- dua) wants to score another year of record sales in 2019 — with a 4% increase in sales to 231,000 units — after it achieved its best annual sales tally of 227,243 units last year.
Perodua president and chief executive o cer Datuk Zainal Abi- din Ahmad said the improvement will be driven by the Myvi and the newly introduced Aruz.
“Perodua’s aim to boost its sales by 4% this year will not only strengthen the brand but offer some relief to the Malaysian car industry, which is forecast to grow very minimally this year,” he said during the company’s Chinese New Year luncheon with the me- dia yesterday.

(The Edge)

(Affin Hwang)

FY2019E. FY2020F
Net profit 98.9 116.6
EPS (sen) 18.1 21.4

Addressing the concerns on property
We met up with Jaks Resources’ (Jaks) management for an update on the company outlook, post its decision to release the bank guarantee of RM50m to STAR. Despite the outcome, we believe Jaks still has sufficient cash balance to meet its operational needs, and hence our investment thesis on Jaks remains unchanged. Given its attractive valuations, we are maintaining our BUY call and TP of RM0.90. The earnings driver for Jaks over the next few years will be from its Vietnam IPP project, which is on track for completion by 2020.
Pacific Star Project will have a closure by 2019
Jaks is committed to complete the Pacific Star project by end of 2019, which will reduce the losses for the segment by around RM2m/month, as it would no longer incur LAD cost post completion. Management is confident that the current cash balance of RM92m is sufficient to complete the project post the RM50m (or RM25.5 for Jaks 51% stake) payment to STAR. Although management guided that there is the possibility that they could claw back a portion of the payment made in an arbitration court, we have not factor that into our numbers. Our core-net profit forecast for FY18 remains unchanged as we view the payment as one-off.
The turnaround of Evolve Mall is work in progress
Although Jaks’ Evolve Mall is still loss making, management is targeting for the mall to achieve operational cash flow break-even by year-end, as they are in the midst of securing a few more tenants. Achieving positive cashflow for the mall is crucial for Jaks, as it will help to conserve its current cash balances before its Vietnam power plant starts contributing. We have forecasted losses from Evolve Mall to be around RM32-33m/year (Jaks owns a 51% stake) in 2018. The overall interest and repayment is around RM15m/year for the mall.
Maintain BUY call and TP of RM0.90
We are maintaining our BUY call, while keeping our TP unchanged at RM0.90 although having made some adjustments on FY18E EPS to factor in the RM50m payment to STAR. We still believe that the stock is undervalued, trading at 3.2x 2019E EPS. Catalyst for the stock will be earnings delivery in FY19E, supported by the EPCC contract

Why did CharlesT go into hiding ?

Down little bit only mah

Come out lah we miss you

MGO is good deal for canone

Just need to sort out gearing

The major shareholder can vote

It will pass

sigh don't mention lah

Legacy stocks cost 1.10

I am an honest person

Reunited with old flame ?

MBM gives angpao

3 Sen dividend

Thank you commonsense for the excellent pick

Haha

Can buy ?

thx. I have a bit of skp

errrr.... are you sure you want to sell at 5.00 ?

did you forget Dr. Icon diagnosis of your premature ejaculation ?

fuiyoh what happen ? rebound

wah 44% !!!

I am counting on sifu you advise me loh

I don't really trade

I take small position and hold

directors selling non stop

cabut

Charlie munger said a wife shouldn't be fatter than her husband by more than 5.75 kg, she should have perfect teeth, speak perfect English and Hindi (?? but whatever, Charlie Munger said so..), must have long hair, and loves to eat pork shoulder....

just imagine he uses that to search for his life partner....

ya, take a small position


so that you can feel it

you don't have brain

need Charlie munger to think for you

Posted by 3iii > Jan 23, 2019 10:01 AM | Report Abuse

Charlie Munger opines you will be a better investor for staying with your checklist.

The checklist is the beginning and not the end of your valuation of a company.



Each checklist is constructed with certain objectives. You will need to know these to employ it productively.

but if you listen to 3iii and follow his checklist you cannot buy lah...

X P

And the best part is at current market cap of RM100 mil it only needs RM10 mil profit per annum to justify

And MYEG last year made RM200 mil with market cap of RM3.6 bil now

Just imagine the potential

Slurp

qqq3 I am referring to this

https://www.thestar.com.my/business/business-news/2019/01/18/this-is-the-default-headline/

sifu qqq3 heitech padu can buy or not ?

LOL I miss him too

Miss his 6 sense 7 sense 67 sense

Business looked ok

All their figures looked ok

Management also good

225

Actually nobody knows. Only dksh management knows

A logical thing to do is to rationalise auric post acquisition. There are plenty of ways to do it. For example VSS to reduce workforce as dksh itself is expert in this kind of industry and doesn’t really need so many auric employees.

the major shareholder holds 74%. They have a lot at stake. I think they won’t do a dumb deal. They must have got all worked out before deciding



csan also to add to my first comment, earnings growth has started to become negative. even less reason to accept previous valuations.
22/01/2019 20:46

Csan the dividend question is easy to answer. 158 mil shares x 10 Sen is 16 mil RM

Not a big amount

MACD crossed zero line decisively

https://klse.i3investor.com/blogs/icon8888/190994.jsp

wait for you to grow up first

learn a bit from you also, Ah Boy

I have been inspired by 3iii recently

dislikes his austerity, rigidity and dogmatism, but pick up some useful concepts along the way

https://klse.i3investor.com/blogs/icon8888/190935.jsp

https://klse.i3investor.com/blogs/icon8888/190935.jsp

LOL early in the morning already kau zhai...

A lot of BS again

Really arguing for the sake of arguing

Last time said QL revenue and profit growth figures are the evidence of moat

Now say those figures not applicable to Johotin, and imposed additional conditions such as the need for regional expansion, vertical integration, diversification, etc (which, if happens, I believe will in turn be argued against as being lack of focus, etc. Basically you can say whatever you want to say, OMG)

You are shifting goal post, bending rules and twisting concepts to suit your own purpose leh

Never mind let's just end it here. Like I say I was never interested in the QL discussion in the first place. You guys can go back to QL thread to discuss

No more comments from me

LMAO Connie really knows how to handle jon jon


Posted by Connie555 > Jan 21, 2019 10:21 PM | Report Abuse

Yawn...Ah mah at this timing is supposed to be sleeping one, also need to come out Gau Zai.

Ah jon time to go home, papa bought some lego for Us to build, relationship bonding

That picture is actually Jon Choivo

feedmill is no big deal lah. Buy some corns buy some vitamins mixed around becomes feed meal

my grandma did that all the time

you thought having a fed mill is big deal ah ? look at sinmah, it has its own feed mill too

look where it is now ?

and please stop comparing QL to CP. Malaysian poultry business is structurally different from Thailand. In Thailand, the entire chicken can be sold from wings to thighs to intestine to chicken butt. That is why Thai has a cost advantage compared to other countries. Malaysians only eat chicken meat, so the cost is structurally and perpetually higher than Thailand.

QL is no CP lah

it doesn't deserve 50 times PER

10 times at best


Posted by 10154899906070843 > Jan 21, 2019 06:49 PM | Report Abuse

Ql produces their own raw material. They started in the feedmill business in the 80s before buying their poultry business.

Everybody can make coffee. But why Starbucks making profit and dome stagnating?

Everybody can make burgers? Why is MacDonald king?

It's all the same answer. Vertical integration. If you spend on debt to do vertical integration isn't it with more in the long run?