The revenue has been growing due to organic growth of its existing customers. Its earnings is resilient.
The recent sell-down is probably related to it was being excluded from Shariah-compliant list, but this factor does not affect its business fundamental.
The core profit in Q3 FY18 was higher than reported profit if exclude the one-off loss items.

Bought some, DKSH is selling cheap now.

Don't forget the acquisition (with profit guarantee) of Trackwork completed in early Oct'18. Therefore, the coming quarterly result is close to certain to see improvement.

Even if I exclude the Trackwork's contribution, AWC deserves higher price than now based on its last 3 quarters' EPS.

The downside is min and upside is huge.

I believe it is cheap because of last quarter's loss + right issues impact.
All the bad things happened together for MFlour in last quarter, and many of them were one-off
loss.

The Indonesia Rupiah has strengthen in Oct-Dec'18 quarter, and RM also not weaken against USD in Oct-Dec'18 and strengthening in Jan'19, which means the raw material cost should ease and Indonesia JV should see positive impact.
The management also hinted in last quarter report that coming quarter should see "significant improvement".

MFlour used to make 12sen per year in normal year. It performed badly from Jan-Sept'18 due to low production performance in Integrated Poultry and weak RM & Rupiah. But, the issues are resolving and reversing.

Bought some, MFlour is selling cheap.

He is wiser now. He goes back to seek help and advice from OoiTB, just like what he did in year 2015.

Just like what happened to Jaks.
The music for Hibiscus and Carimin should continue for a while before it stops. The old man needs to earn back some of the money he lost in Jaks. You all need to contribute a bit.

Some of the contents above are kind of "canon behind horse". It is easy to list down the facts and reasons after things have happened.

Ridiculous selling price now.

Gamuda's earnings in this quarter is without the contribution from Splash and taken into account the disruption of MRT2 work activities in July-Sept quarter. The earnings is considered satisfactory and not much lower QoQ.
The MRT2 activities is now picking up pace after the cost-cutting agreement with government.
At current stock price, it is selling with PE<10x multiple and i believe it is undervalued for such an established construction and concession company like Gamuda.

It is dangerous to live in denial. We need acceptance to move on in life.

Panic buy all the way to 28sen.

From then onwards, its stock price will move along with its coming quarterly earnings.

If the management able to get the short term loan refinance to long term loan by end of March 2019, then the worry should ease, and its stock price should come back to ~50sen per share level.

If that is the case, its stock price should rise to ~28senper share soon.

When this quarter's earnings result came out, Armada's stock price didn't plunge. The plunge only happened 2 days after the quarterly result, thus it make sense that the panic was triggered by the internal memo but not the quarterly result.

Panic buy now.
It is still so cheap.

For a stock that can earn 2.05sen in one quarter, and NTA at 96sen which mostly in valuable concession, i.e. expressway, I would think Ekovest is very much undervalued selling at merely 40+sen per share now.

As long as the earnings is good and prospect is good, the stock price will reflect sooner or later.

Moving forward, Duke 2 Expressway's traffic should continue to increase and that is the growth factor for Ekovest.

In short, all the bad things happend and all additional expenses were charged in last quarter, and the worst is over now. We can clearly see that this quarter's earnings has recovered by so much without those one-off negative event/expense.

Ekovest's stock price could come down so much in past few months was partly due to super poor earnings result in last quarter. But, I see last quarter's poor earnings was caused by a series of one-off event and not to recur in coming quarters. The one-off events include :

I) High expenses incurred due to corporate exercise on the voluntary general offer.
ii) Provision for liquidated ascertained damages for the development project.
iii) Exceptionally high depreciation expenses, finance cost and tax rate. I do see these 3 items back to more normal level in this quarter.

There must be some compromises from both sides before Trump agreed to cease fire for the time being. It is a good start.
No one expect the trade war will stop totally and immediately through one meeting. This outcome is considered very good liao.

The director and major shareholder bought back quite a high volume of AnnJoo stocks in Oct 2018. He already knew the earnings in Q3 will be higher QoQ in end Sept'18 when Q3 ended.

The loss was due to RM5.3mil tax paid for the mistake done in 2013-16 assessment, and RM2.3mil penalty. Those are one-off item and not operation related. Otherwise, it is a profitable quarter.

Why people do not want to read quarterly report and find out the real reason ?

The tax rate so high in this quarter because that arises from the difference in interpretation under the MSC qualifying activities in 2013-2016 assessment. In short, PresBhd has to pay more tax due to the mistake happened in years 2013-2016 assessment. This is an one-off issue.

Posted by Christiano88 > Nov 28, 2018 07:17 PM | Report Abuse

why tax so higher, last qr also like tat

In "Prospect" column, the management hinted that :
"With all current projects in hand, the Group is expected to perform better in financial year 2018".

There is only one quarter, i.e. Q4, left for FY2018. This means we should see good earnings in coming Q4 if the management is trustworthy.

We can also see "Concession" income which generated from SKIN project in July-Sept'18 period. This means the infrastructure construction of SKIN is on-going.

PresBhd made loss in this quarter because it paid RM5.3mil additional tax from 2013-2016 assessment and RM2.3mil penalty to Inland Revenue Board (IRB). Otherwise, it is a green quarter for PresBhd.

Melewar no doubt is a badly managed company, but its P/BV is so low and makes it attractive.

In this quarter, Melewar actually registered positive PBT of RM1.1mil. BUT, the tax expenses was RM2mil (190% tax rate !). Resulting, Melewar again showed loss in PATAMI and EPS.

Why the tax expenses was charged so high..? I think the management somehow want to show negative results.

I think what happens now is small bear. Hope I am right..
Many analysts and economics also think we will not be in recession in coming one year. Hope they are right..

I differentiate bear market into "small bear" and "big bear". Small bear means market down by >20% but less than 50%. Big bear means market down by >50% just like 1997/8 and 2008 crisis.

In big bear market, investor better sell every stocks and run even making a loss because there are a lot more to fall and the bear period will be long.
In small bear market, investor should accumulate undervalued stocks to capture opportunity and wait for better days ahead.

It is correct to use margin financing in bad market in order to capture the opportunity.
Using margin in bull market means buying more stocks at its peak price and that guarantee downfall.

Eforce's quarterly earnings never disappoint, but stock price still down so much YTD.

Dayang posted fantastic Q3 earnings result but crude oil price keeps declining, plus US future doesn't look good now. I wonder how Dayang's stock price will react on Monday ?

Alas,it is difficult to make money in stock market nowadays. If Dayang post such good earnings for 2 consecutive quarters in year 2017, I am certain its stock price would fly to sky..but this year 2018 is very different.

Good result :)
but don't chase high to add lar, later kena trapped.

I think insiders already knew about this quarter's poor EPS and had sold earlier. I suppose that explains why its stock price came down from RM17 to RM10+ today.

Opportunity to buy tomorrow.

Customer's material supply issue has impacted KESM's burn-in and testing business. This issue has lasted for quite long due to shortage of wafers.

I believe market people don't care what is the actual reason and will sell-down KESM tomorrow based on this quarter's poor EPS.

Its valuation is getting attractive to enter.. but I think I will wait till the Q3 announcement is out.

One comforting factor for Hengyuan is brent crude oil price has increased from USD79 per barrel in end Jun to USD82.7 per barrel in end Sept. Thus, there would be stockholding gain for Hengyuan.
Having said that, the negative factors out-weight positive factor, and we will see another poor Q3 earning quarter for Hengyuan. Its stock price should not fall much after the Q3 earnings announcement as it has already fallen quite a lot in past few months.

Hengyuan's coming Q3 earnings should be very poor due to :
I) Its plant was undergoing major turnaround from early Aug'18 to late Oct'18. This means ~2 months in Q3 period would have lower production and sales revenue.
ii) RM has weakened against USD in Q3 period. Since Hengyuan has huge USD loan, the forex loss in Q3 will be significant.

Besides, next Q4 is "seasonally strongest quarter" for Deleum. One can refer to its historical earnings trend to verify this matter.
As such, I expect higher EPS in Q4.

Deleum's Integrated Corrosion Solution segment has turned from losses in Q1 & Q2 to small gain in Q3, mainly due to its MCM contract is gradually picking up pace. Management has hinted this segment will again be in green in next Q4.

This quarter's EPS is 2.28sen vs 2.29sen in preceding quarter. The EPS is just marginally lower QoQ, mainly due to RM1.1mil forex loss in this quarter compared against forex gain in preceding quarter. This means if exclude forex gain/loss, this Q's earnings would be higher QoQ.

The key is in resin price. If it is lower QoQ, then TGuan should post better earnings in July-Sept'18 quarter as USD has strengthened during this period.

If the coming quarter's earnings can be on par with preceding quarter. TGuan's fair value should be at RM3.20 per share if given PE=10x multiple.

Wow...up so fast. I prefer its upwards momentum to slow down a bit so that it can be sustained.
Too fast too scary..