http://www.theedgemarkets.com/my/article/damansara-realty-ceo-resigns-2q-net-loss-widens

Management do have a clear business strategy for Padini and Brands Outlet but Vinci is a problem child for them. 10 cent regular dividend is unlikely to be cut for at least one more year due to their cash reserve. But financial performance should deteriorate further after GST as they have to absorb the tax until June 2016.

Not really.... 1MDB loan lenders are Maybank, RHB, Alliance, MBSB, and Affin-Hwang IB.

Should be a relatively stable/boring O&G stock.

It is secondary share placement i.e. no new share is issued. However the seller will exercise his/her warrants to maintain stake, hence earnings dilution will come later. The sell-down might be due to institutional investors who anticipated the opportunity to buy back at a cheaper price through the private placement.

100m private share placement at < RM1.60.

Cut by 6% until June only.

Might be due to secondary stock offering.

USD 1.9b loan on book.... good luck.

The market seems to have misunderstood that VS and SKP will benefit directly from resin price and MYR weakness...

Padini's gross margin was 46% in FY14. But don't expect to get a direct discount of up to 70% anymore (at most 20-30%) as they will do everyday bulk discount instead. Old stock will be accumulated and cleared at fairs held only several times each year at selected locations.

Nope. Ask your broker to help in exercising. Else it will be a useless piece of paper post-expiry.

Let us just hope that it won't be so bad that Niaga CEO's head go rolling.

FY15 profit will definitely be lower than FY14 due to GST's margin squeeze and deteriorating performance of Vincci. However, 10-cent DPS is secured at least until FY16.

upcoming result could be good.

Beware of potential rights issue to cover steel sector NPLs.

Most likely will report a loss in the upcoming result dragged by CIMB Niaga.

Most plastic packaging players have cost-pass-through clauses. Only one out of the five listed companies I analysed so far will not pass the cost saving to customers.

Thong Guan's stretch films are mostly sold on cost-plus basis.

Well maybe I shall clarify that it is for traditional trade channels only (DKSH will still manage the modern trades). Still wonder whether these distribution companies will pass on the cost saving of GST implementation (from 10% sales tax to 6% GST) to end consumers - if you might want to enlighten us?

Termination of contract is normal for a trading company... Do remember that Yee Lee also secured the distribution contract for Oldtown's FMCG product in peninsular Malaysia last June/July. Btw the company's bottom line is actually driven more by its aerosol can division.

A very detailed analysis - maybe you can discuss the impact of TPPA? ESOS and low dividend yield are issues for me. Its closest peer Magni-Tech also trades at similar TTM PER with 4.6% yield, although the management was not investor friendly. Prefer Luen Thai (311 HK) for its 3-4x forward PER and ~8% yield.

Sorry it is calculated in market days.

Eight days (from the day the registrar receives the document) for direct accounts (i.e. stock owned under your name) and 12-13 days for nominee accounts.

duitKWSPkita - to simplify, we could say that Yee Lee's oil palm plantation sold RM5m worth of oil palm to its own refinery, which then processed the oil palm into edible oil. However, the total sales of edible oil by its refinery was around RM86m, which means that Yee Lee must have bought a lot of oil palm (likely > RM70m) from outside since the refining margin is ultra thin (haven't updated my model but the division's 2013 pretax margin was likely around 4%).

Since when does Yee Lee source most of its palm oil internally... 2013 intra-company sales for plantation division was only RM5m compared to RM86m external revenue generated from the palm oil refining operation. Note that palm oil refining business usually commands low-single-digit operating margin.

CPO price drop will benefit palm oil refiners. Yee Lee's oil palm plantation business is negligible.

After the disposal, Abric should have RM0.89 NA per share.

They have never used cash to support Karambunai directly. Although the 6% stake was acquired as part of debt settlement by Karambunai in OCT 2013, the debt was a result of Karambunai acquiring FACBIND's property-developer subsidiary back in OCT 2008.

Yup. Not related. It is DBKL project but Syabas' fault.