Ya..i think my eyes are blur at this moment..let me finish this and go zzz
I think others include associate result, and other investment holding as well...
this is why we have section like segment result which is negative and we have interest income
But, I wonder what have they financing and get high interest expense for this "others" section?? This interest expense of 10mil span for 3 quarters is about 3 mil per quarter..it is very high.
Regarding property rental income, I check cashflow, I din see any as well....Where do that figure comes from?
Andy hard, a big chunk of it is loan took to purchase 32.9% kian joo shares years ago. Any differential sum between kjcan contribution (ex special item) vs "property" column i categorised as rental income.
I'm the PE 10 group member to keep myself safe. With current RM rate going, i anticipate core earning should be able to sustain as a whole. Q4 15 and Q1 16 was hit by forex. And Q4 16 so far more or less kian joo part is safe. 4.28 will be my forward fv based on core earning
I love johotin and spend lot of time tracking it. I still not open any position, no idea of any 心水目标价。 Perhaps i need to be more brave. Partly because my analytical skill is still very poor. Need to work hard on this.
Ultimately, 25% FA, 25% TA, 50% banker..we are in bursa..no choice.
Canone seems to have better natural hedge over johotin. Can biz is park under kianjoo basically. Dairy biz (if got import permit for raw mat), will have natural hedge when export finished products.
Still, from q to q and year to year, not sure how is the dollar net exposure in changes. If keep too much dollar, scare ringgit turn around. If keep RM, afraid later become wall paper.
1) The Q3 gross margin has dropped by 2 %. Diary margin (8.5% PBT) dropped by about 3-4% compared to Q1 and Q2 which is 12-13%. Tin manufacturing not much changes 2) SUgar and milk powder price is on uptrend 3) USD loan increase due to trade loan. However, loan in RM has dropped significantly by 20 mil to 379mil. 4) Interest expense remain high of 5mil. Majority of the interest expense (10mil in 3 quarters are paid for investment for a stake in KianJoo) 5) Depreciation remained high of 5.8mil perquarter 6) Outlook remained. But, monitor on milk powder on sugar price as government would like to increase the sugar ceiling price by 30%
Just to share a bit on my investment experience. I never expect the chart would continuously shoot up. I do expect a very good quarter report even better than 2Q. the result is not bad but not so excellent compared to 2Q. My take is this chart would consolidate for a while, but moving north is the way it is going.
YiStock, Thank you very much for the analysis. One suggestion on your chart. Too small and difficult to read. Harry's way is better whereby the chart can be open up and expanded.
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
YiStock
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