My opinion is this IST group will require at least 5 years before it's able to provide meaningful contribution to MFCB

@Why2TellMeWhy

Agreed with you on this.
I believe Inari the only OSAT in the world that is debt free based on latest QR.
To be fair for some here, they buy stocks in Jan, hoping to flip 30% gain by June.
Different investment horizon.

@Muyutin

Yes, you're right as witnessed in 2007/2008 financial crisis where crude oil top USD140pbl and slump to USD40 pbl in 6 months.
But the fact is no one can tell this event until it happens.
Besides that, it happens only once in 10-12 years.
You can wait till it happens.

Based on key pointer #3
3.As production volumes does not equate to sales volumes, we opine that it would be more appropriate to analyse Hibiscus on an annual basis – rather than quarter-to quarter as offtake batches are lumpy and huge in nature, which may deviate or create an earnings vacuum in certain quarters.

Summary: It will be difficult to determine annual earnings since crude oil prices can fluctuate upwards or downwards of more than 20%-30% within a few weeks. By the time it reaches the offtakes period towards year end, hopefully crude oil remain above USD100pbl.

Some key pointers:
1.Missed expectations – not due to operational/production issues but the unfortunate timing of offtakes in 3QFY22.

2.Revenue was flat while core net profit was down by 28% despite ours and market’s initial expectations of a multi-fold earnings growth QoQ. This is due to a misconception that production volume equals sales volume. For Hibiscus, sales are usually done in batches known as “offtakes”.

3.As production volumes does not equate to sales volumes, we opine that it would be more appropriate to analyse Hibiscus on an annual basis – rather than quarter-to quarter as offtake batches are lumpy and huge in nature, which may deviate or create an earnings vacuum in certain quarters.

4.On a QoQ comparison, 3QFY22 core net profit fell 37% QoQ to RM31mil due to the halving of North Sabah sales volume to 300K barrels as the company managed a single offtake vs. 2 in 2QFY22. Additionally, there was no sales offtake for Repsol asset’s Kinabalu production sharing contract (PSC).

5.We highlight that average daily net production decreased 21% QoQ to 4,695 barrels for North Sabah in 3QFY22 from unplanned production interruptions in January 2022 and an annual planned maintenance campaign in March this year.

6.Likewise, Anasuria also experienced an average daily net production decline of 20% QoQ to 1,983 barrels in 3QFY22 due to a continuing production riser malfunction, which is now expected to be rectified in 3Q2022.

A disappointment, no growth in revenue, at least profit margin improved.

@derrtan
Some may be cautious just in case the QR result is not as expected.
Wait for QR result then decide to top up or sell down.

https://www.thestar.com.my/business/business-news/2022/05/19/inaris-core-rf-segment-on-expansion-mode

@ychong88
Maybe it's time for you to look into other sectors that is more suitable for you as tech is just one of the many you can invest.
To share some light, tech experience a correction starting in Nov 2021 till today but do note that it had rallied for 11 years since 2010.

Not sure if BNM will allow the sale to Grab.
Just granted Grab a digital bank license and then Grab buys into a conventional bank?
Doesn't make any sense.
Besides that, in Spore, Grab + Singtel JV to start GXS bank. They don't even need to buy Spore bank shares.

@paktua73
No need to cut loss. Can keep for longer term since it provides dividend.
Unless you need the cash to feed yourself and family, then no choice.
I believe the supply chain issues should be resolve partially by 2022 as most suppliers are expanding capacity along the supply chain
China's covid situation should recover next month with most cities reopening.

Wait for results to determine the outcome to top up or reduce holdings

AGM next wed.
Will get to know more updates from management.

I think Inari should pursue for listing on Nasdaq if they are dropped from FBM KLCI
To get global recognition is more important and to attract large cap tech customers.

@stockpick2me

Yup, many things need milk but most commercial companies will use cheaper options like milk powder instead of fresh milk.
Besides, FFB targets retail customers where drinking milk is an option not a necessity especially during times of financial difficulty.

Yup, not much choice as companies can't sustain the increasing cost as well.
Can't please both shareholders and customers.
But milk is not a necessity unlike rice, wheat, etc

https://www.klsescreener.com/v2/news/view/988869/inari-3q-net-profit-rises-10-to-rm90-5mil-declares-2-2-sen-dividend

https://www.klsescreener.com/v2/news/view/988869/inari-3q-net-profit-rises-10-to-rm90-5mil-declares-2-2-sen-dividend

https://klse.i3investor.com/web/staticfile/view/451277

Quarter result will be out in 1-2 weeks.

@twynstar

Thanks for the HLIB report.
Good insight but the IB seems to have a lower net profit forecast for 2022.
Was expecting between rm400mil to rm450mil based on average USD90 pbl for fy2022
Unless, the earnings are based on long term contract with clients where earnings are not tied to the daily crude oil transacted price.

@snowball2000

Excluding the RM122.0 million share of profit in joint venture, I think the result is still good.

However, I have some concerns on the total borrowings (excluding lease liabilities) amounted to RM777.9 million, a RM120.0 million increase from RM657.9 million at the beginning of the year.
Even though, the increase was primarily due to additional borrowings to
part finance the acquisition of Stenta.

As interest rates will beginning to normalise from 2022 2nd half to 2023 by approximately 1%, hopefully management will take steps to further reduce the borrowings by funding acquisitions via private placements or warrants

@hoot9e996
@Stayhomemum
Are you referring to shareholdings?
For shareholdings, annual report disclose the top30.

If it's a conventional bank license, it would be profitable.
For a digital bank, providing services to unserved, underserved or unbanked individuals are not profitable biz.
Just my 2 cents.

https://www.thestar.com.my/business/business-news/2022/04/30/cengild-turbo-boosting-its-growth-post-ipo

@Max2838

Contract already booked between Boradcom and Apple till 2023 regardless of Apple experiencing slower or faster sales/profit.

https://www.cnbc.com/2020/01/23/broadcom-will-sell-apple-wireless-parts-for-three-years-as-5g-launches.html

@snowball2000

What is your expectation of the quarter results after factoring the mandatory windfall tax payment?

F&N trying to rival FFB with the new integrated dairy farming method

https://www.nst.com.my/business/2022/04/791871/fns-rm2155mil-estate-acquisition-value-accretive-says-midf-research

https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=125508&name=EA_GA_ATTACHMENTS

Not easy job for the CEO
Balancing high cost with price hike.
Too little or no price hike, bottomline impacted and face the brunt from shareholders
Too much hike, consumer switch brands and market share impacted, face the brunt from shareholders,
Really a tough job for him

https://www.bfm.my/podcast/morning-run/the-breakfast-grille/farm-freshs-regional-ambitions

https://www.sunwaymedical.com/doctor/dato-dr-tan-huck-joo

Besides the main 6 consultants, Cengild also have :
Visiting consultants=17

One of the 6 consultants, Dato' Dr Tan Huck Joo is also a visiting consultant for Sunway Medical Centre, C-G-3, Ground Floor, Tower C, +603-7491 9191 (Ext. 20527)

Thus, the visiting consultants can cover the operations even if 1-2 of the main consultants decided to leave. Of course, leaving without their ESOS.

ESOS is provided to retain their services and to reward employees for their performance, vested over the next 5 years

18 April 2023 10%
18 April 2024 10%
18 April 2025 40%
18 April 2026 40%

https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=125233&name=EA_GA_ATTACHMENTS

@Genetec A baby step

Really need to hard sell?

@i3lurker

Which tech companies are you referring to?

In Maybank IB Research’s view, the PN17 status is salvageable with six ways that AirAsia Group can substantially narrow its negative shareholders’ equity:

Waiver of deferred aircraft leases (RM2.5 bil);
Listing of digital assets currently valued at US$1.2 bil (RM5.2 bil);
Reversal of impairment of right-of-use assets (RM552 mil);
Issuance of RCUIDS (RM974 mil) and warrants (RM650 mil);
Deconsolidate Indonesia AirAsia (IAA) and Philippines AirAsia (PAA) accounts; and
Sale of assets (eg maintenance, repairs and operations division).

CLSA ?
Let's see if they announce the replenishment of order book in Bursa by Dec 2022.
Current order book is RM150mil. Between now and year end should expect another RM900mil.

@paktua73

Why jual so cepat?

@derrtan

Have to reapply from beginning. The hassle and paperwork only.

But I don't think need to have PP at this time due to strong crude oil prices which will generate strong cashflow.

The company applied it when crude oil was USD45 pbl, thus it makes sense to raise additional funds to support.

Next few weeks when QR result will out, everyone will rush in to get a slice.

Any idea what MIDF acquisition can benefit MBSB?
MBSB biz models seems to cater for retail lending whereas MIDF is asset management, investment banking,etc.

Yeah, Repsol asset provide a good mix of Natural Gas and Crude oil.
Besides that, Natural Gas price seems to continue to rally with good justification as part of renewal energy.
Kudos to Hibiscus prudent management.

I rather prefer they focus on the existing asset and provide dividend of 1 cent per quarter than continuing to look for other asset to acquire.

Suggest to look at the stock price on 25/4 onwards when the price stabilizer ends on 22/4.

Yup, very much agreed that FFB will be similar to Dutch lady, Nestle, F&N, etc.
It's slow and boring and suited for long term view.

@Bullrunrun
Get your facts and dates right.
https://www.thestar.com.my/business/business-news/2022/04/01/supermax-us-plant-may-see-losses-in-early-stages

Maybe pursuing his own investment interest.
Take example of abdul jalil abdul rasheed , ex-CEO of BJCORP. Bought when joining the company, sold after resigning. Nothing related with company's fundamental.

https://www.theedgemarkets.com/article/wang-mei-ling-resigns-jf-techs-executive-director-relinquishes-role-group-cfo

https://www.theedgemarkets.com/article/mynews-redesignates-retail-units-ceo-consultant-no-reasons-provided-change

@Anaconder

At current price of RM1.20, it's 100% above pre-pandemic pricing.
Q2 2022 revenue and net profit are 45% and 24% above Q2 2019.

I believe it's more than justified the Fair Value between RM1 and RM1.20