SEMI is now very uncertained

Be a smart contrarian, BTW

Still BUY and MYR2.70 TP, 43% expected total returns. Cocoaland’s 1Q19 earnings were within expectations – they were down mainly on higher marketing expenses. Demand for its gummy and hard candy products stayed resilient, though. Cost optimisation initiatives saw some results: lower employee costs. We continue to like the stock, given its sustainable earnings on robust gummy products demand, supported by a proven track record and strong brand equity.
No surprises. Cocoaland’s 1Q19 results were within our and consensus expectations, with earnings of MYR8.4m (-1.8% YoY, -12.6% QoQ) that accounted for 25% and 27% of full-year forecasts. The lower earnings were mainly attributed to higher marketing expenses and decreased other income, netting off increased revenue of MYR65.6m (+1.9% YoY, +7% QoQ). No dividend was declared.
Cost optimisation bearing fruit. The manufacturing segment’s performance improved, reporting 1Q19 PBT of MYR4m (1Q18: MYR83,000 LBT) – thanks to a better product mix and lower employee costs. However, Cocoaland continued to feel the impact of sluggish demand for beverage products, dragging revenue down 9.2% YoY (-0.02% QoQ) to MYR16.9m – this offset growing demand for gummy and hard candy products.
Marketing expenses a drag. The trading unit registered higher revenue of MYR48.7m (+6.3% YoY, +9.7% QoQ), as demand for gummy, snacks, and coco-pie products grew. However, higher marketing expenses from exhibition and promotional activities dragged PBT down to MYR6.5m (-52.7% YoY, +5.3% QoQ). We also note that this unit’s PBT margin dropped 12ppts when compared to 1Q18’s numbers.
Key risks and forecasts. Downside risks to our recommendation and earnings forecasts include sharp rises in raw material costs and weaker consumer sentiment. A strengthening of the MYR against the USD should also negatively affect Cocoaland’s earnings. We make no changes to our forecasts.
We keep our call on the stock, as we expect resilient demand for the company’s gummy products on strong brand equity to continue support earnings. We like Cocoaland for its generous dividend payouts (translating into prospective yields of 5%), backed by a sturdy balance sheet and healthy cash flow generation. There is no change to our TP, with total expected returns of 43% – this based on 2019F earnings of an unchanged 18x target P/E, +1.5SD from its 5-year mean.
Source: RHB Securities Research - 23 May 2019

Norman Yap,
Thanks for the article.
Any update on the company now?

RM2,861,028. 86 has been utilised to buy back 1.603 million shares. However, the maximum the company could use for share back back is capped by its retained earning of rm3,568,152. Balance of another rm 700,000.


Source :extracted from the announcement of renewal of Share Back Back....
"2.2 Maximum amount of funds to be allocated and source of funds
Pursuant to Paragraph 12.10(1) of the Listing Requirements, the listed issuer must ensure that
the Proposed Share Buy-Back Renewal is made wholly out of the retained profits of the Company.
Based on the latest audited financial statements of the Company for the financial year ended 31
December 2018, the accumulated retained profits of the Company was RM3,568,152.
The Company shall ensure that the maximum funds to be utilised for the Proposed Share Buy-
Back Renewal shall not exceed the aggregate of the retained profits of the Company in accordance
with Paragraph 12.10(2) of the Listing Requirements.

All SEMI kena wallop

Maintain BUY with unchanged TP of MYR2.70. Our TP is derived from an unchanged target 18x P/E (+1.5SD from its 5-year mean), based on 2019F’s earnings. We like Cocoaland given resilient demand for its gummy products, generous dividend payouts backed by a sturdy balance sheet, healthy cash flow generation, and proven track record. Strong brand equity in both the domestic and overseas markets should also ensure sustainability of its future earnings.
Source: RHB Securities Research - 28 February 2019

Maintain BUY with unchanged TP of MYR2.70. Our TP is derived from an unchanged target 18x P/E (+1.5SD from its 5-year mean), based on 2019F’s earnings. We like Cocoaland given resilient demand for its gummy products, generous dividend payouts backed by a sturdy balance sheet, healthy cash flow generation, and proven track record. Strong brand equity in both the domestic and overseas markets should also ensure sustainability of its future earnings.
Source: RHB Securities Research - 28 February 2019

The NEW Fruit Gummy production line will raise the total production capacity to 14,200 MT from the present 9,200 MT, an increase of 43%. The fruit gummy accounted for approximately 50% revenue of the company and about 50% of which is derived from Export Markets.

Bright future, by just banking on the growing sales and acceptance of the gummy candy which has already established a brand name, LOT 100

"1. New Gummy Production Line
As part of plans to expand our gummy
production capacity, the Group is developing
the 2.6-acre Lot 28 as Lots 88 and 100 have
reached an estimated 83.6% capacity for gummy
production.
The addition of another line for gummy
production, expected to be completed in the
first quarter of 2020, is part of our expansion and
growth plans as the Group sees rapid revenue
growth potential for gummy products (in-
house brand as well as for Original Equipment
Manufacturing (“OEM”)"

------ PAGE 19, AR 2018

Expansion on the way for the star products, Gummy lot 100

刘姥姥带你游花园。。

The fate of a company which has a gross margin of more than 50% in the last QR? Incredible? or unbelievable? Haha!

Probably the coming QR not good, in line with reduced investments and thus weak equipment demands worldwide caused by uncertainties due trade war..

Upon listing, all the original owners can cash out kaw kaw... instantly cash rich! FATT DATT! CASH IS KING MA!

KEEP. Bought cheap. Thanks to Skans...

keep for long term. Could it be another Ahealth!? hihi.

Changes in Director's Interest (Section 219 of CA 2016)
Y.S.P.SOUTHEAST ASIA HOLDING BERHAD

Information Compiled By KLSE

Particulars of Director
Name DATO' DR LEE FANG HSIN
Descriptions(Class) Ordinary Shares
Details of changes
No
Date of change
No of securities
Type of transaction
Nature of Interest
1
22/04/2019
200,000
Others
Direct Interest
Name of registered holder Dato' Dr. Lee Fang Hsin
Description of "Others" Type of Transaction Exercise of ESOS
Consideration (if any) RM2.55

ANNOUNCEMENT TO BURSA ON 22ND APRIL 2019.

SINCE DIRECTOR EXERCISED 200K ESOS SHARES @2.55, ON 22-4-2019, THE QR MUST BE REASONABLY GOOD OR WITHIN EXPECTATIONS.. :)

There was a "vacuum" of sellers after the particular fund sold out its near 5% holdings in the last 10 trading days.. LOL.

Huat together!

Date............. Price Target...... Source
27/02/2019.....3.85....... Affin Hwang Capital
21/11/2018.....4.02...... Affin Hwang Capital

Huat Ah!

I bought 98.5% from 1 broker...

AR 2018 shareholders
- 6.582 million - SKanDinavisKa ensKilDa banKen ab (ucits v sweDish)

Could it be this fund selling since 2nd May..

If this is the sole seller, should be finishing soon..

Scandinavian fund getting out from Malaysia?

Program selling... Likely finishing.. Just see how it goes..

Assume all the assets except the 450 acres land and cash are written to zero, what would be the net asset value per share of this Eden as at 31.12.2018?

450 acres of land near Kuantan port, assume at rm15 per square ft, take a Conservative figure..
450×43,560 ×15=294,030,000

Cash 11.2 million

Total asset 294 millions +11 millions =305 millions

Total liabilities is 155 millions

Net asset is 150 million

Total number of shares 395 million

Net asset per share 150 ÷ 395=0.38

Net asset per share is 38 cents if we assume all other assets has no value except the cash and the land has a market value of rm15 per sq ft ..

You can try with other assumed market value of the land and arrive at the net asset value per share... written off all other assets, since the prime asset is the 450 acres land.

Please correct me if you think if there is anything I overlooked.. tq.

Up_down
How do you know the Swiss bank is exiting?

(iii) Planned disposal of lands of the Company
Ketua Pengarah Tanah dan Galian Persekutuan (“JKPTG”), had on 5 April
2018 published gazette under section 8 of the Land Acquisition Act 1960
for Phase 1A mainly for the construction of the rail link line affecting
Company’s land under Lot 8911 with estimated area of 15.79 acres.
However, the proposed acquisition of the remaining lands for the Phase 2
(two) development, which is mainly for building the depot and maintenance
centre has yet to be announced and gazette at this juncture.

Procurement logistics is booming, doing very well... Courier service need about 3 years gestation period.. Aims to be the No 1 in the country.. Oil logistics fully tenanted from this month...recovering... Total logistics remains competitive... Some warehouse space still not fully tenanted, about 200K sq ft.. Will try to get clients... Management will control Capex and Opex... move the bottom line up and be more profitable this FY... :)

Some guy's English is just unintelligible

https://klse.i3investor.com/blogs/kenangaresearch/204467.jsp

VERY IMPARTIAL AND INFORMATIVE

Checked the prospectus. The non current receivables are due to the Concession projects for IIUM.

Checked the prospectus, the non current receivables are due to the Concession projects for IIUM...

Fly with rm590M receivables huh?

How come trade receivables is Rm590M but the annual revenue last year 2018 was only RM300M. For the year 2017, revenue was rm212M..

Trade receivables of rm590M is more than the revenues of FY18 and FY 17 combined?

How come?

Anyone can help to explain?

Can anyone help to explain?

How come trade receivables is Rm590M but the annual revenue last year 2018 was only RM300M and for the year 2017 was rm212M..

Trade receivables of rm590M is more than the revenues of FY18 and FY 17 combined?

After PP the share price would gallop like a wild horse.

However before the price is fixed, this horse seemed is being tamed and restrained by its masters and jockeys.

Ekovest had a very bullish breakaway gap.

A breakaway gap is a term used in technical analysis which identifies the first phase of a security price reversal. A breakaway gap is signified by a reversal trend gap in the movement of a stock price. Breakaway gaps are usually supported by levels of high volume.

Do all gaps get filled?
Most gaps do get filled at some point in time. However, there are exceptions. ... Breakaway gaps are usually among the last gaps to get filled because they are at the start of a move and nearly 100% retrenchment will be necessary to fill the gap properly. H.M.

Gaps could be filled after a long long period... and not all gaps must be filled...

IWH-CREC ups advance payment by RM500m

Hahaha!
It is IWH-CREC ups the advance payment by RM500M in addition to the original 10%, RM741M.

If they can't afford to come out with the money, would they commit to UP ADVANCE PAYMENT BY RM500M?

Use your buttocks to think also you will know the answer!

hihihi

@4:30pm, start the fall from 98 to 94/94.5.... Typical T+3 Selling... When selling from contra players abated, it will rebound..

Changes in Director's Interest (Section 219 of CA 2016)
EKOVEST BERHAD

Information Compiled By KLSE

Particulars of Director
Name TAN SRI DATUK SERI LIM KENG CHENG
Descriptions(Class) Ordinary Shares
Details of changes
No
Date of change
No of securities
Type of transaction
Nature of Interest
1
22/04/2019
17,900,000
Disposed
Indirect Interest
Name of registered holder Lim Seong Hai Holdings Sdn Bhd
Description of "Others" Type of Transaction
Consideration (if any) RM0.95231 per share

Circumstances by reason of which change has occurred Disposed in open market
Nature of interest Indirect Interest



Total no of securities after change

Direct (units) 10,833,000
Direct (%) 0.510
Indirect/deemed interest (units) 137,199,300
Indirect/deemed interest (%) 6.410
Date of notice 24/04/2019
Date notice received by Listed Issuer 24/04/2019

Warrant only lah.... Naive

Remember?
Duke 2 and Duke 2A, Ekovest sold 40% to EPF in 2016 for RM1. 13 B

So what is the value of Duke 2 and Duke 2A to Ekovest? And this has not yet taken Duke 3 into the valuation.

Share price much discounted due to the uncertainties of the PH govt's election manifesto to abolish toll concessions. But till now, they couldn't do it.

Now with Bandar Malaysia is back...

Would Ekovest returning to those glory days?

:)

Market spoken today on the Private Placement. It went up 6.5 cents to close @93.5 with substantial volume to a high of 95.5 almost touched recent limit up high of 97...

The market is the judge of the day after the proposed Private Placement.. Haha!

So many don't even know how to read Bursa announcements, so pathetic! Their have a holding co Lim Siong Hai Holdings Sdn Bhd and those who names are in there are shareholders. The holding co sold 17.9 millions shares and still holding 137.2million shares, about 6.41 %

They disposed all the warrants 16.7 millions, save conversion...

STILL HOLDING 137.2 MILLION SHARES, 6.41% as substantial shareholders.. Disposed 17.9 millions shares lah... those they bought when market plunged leh...

So fast announced Private Placement!
A game plan must have been put in place some time ago..
Bigger and better things are coming.. Hihihi..

"Small money doesn't go out, big money won't come in!"
小钱不出，大钱不来！

Don't play play!