Posted by trulyinvest > 2018-02-27 23:28 | Report Abuse

Cakap,saje senang... can,hy beat q1 of 2017? ,I think it is,an uphill task

Posted by cooling > 2018-02-27 23:29 |

Post removed.Why?

Posted by newbie911 > 2018-02-27 23:36 | Report Abuse

Aft tht got factory shut down, better run tomorrow.

Posted by Dcmh > 2018-02-27 23:39 | Report Abuse

Hahaha look like the above 2 bought at very high price

Posted by trulyinvest > 2018-02-28 00:02 | Report Abuse

Sory la, I sold all two days before.. not like u, greddy pig

Posted by supersaiyan3 > 2018-02-28 00:04 | Report Abuse

Your thesis is not aligned with facts.

Posted by michaelwong > 2018-02-28 00:08 | Report Abuse

Sensible article to right the wrongs expectations !

Posted by Dcmh > 2018-02-28 07:21 | Report Abuse

Cut lost our fren

Posted by trulyinvest > 2018-02-28 07:29 | Report Abuse

No need to talk 2017 la.. px oredi peak.. talk about 2018''' can maintain 2017 superb profit ka

Posted by Lee Yih Yeong > 2018-02-28 07:34 | Report Abuse

talk is easy la, after result out all talk 3 talk 4 like expert. before that all said good this good that. pe low la...bullshiy

Posted by Aero1 > 2018-02-28 08:12 | Report Abuse

Reasonable analysis. Believe the management has incorporated extra staff benefits in view of the good results hence the higher operating cost this quarter.
60 sen a quarter is more sustainable. The dividend suggests HY's commitment to institutional funds in term of return.

Posted by Sharemaster8 > 2018-02-28 13:28 | Report Abuse

Agreed. A panic sell from retailer and the big fish is collecting... Afternoon might be going up

Posted by dusti > 2018-02-28 15:24 | Report Abuse

Think about <12

Posted by Yu_and_Mee > 2018-02-28 20:52 | Report Abuse

below 10, start to buy some.
below 8, start to accumulate.
below 6, top up even more.
below 4, sell all other shares and all in.
below 2, sell everything and all in.
should be no below 0, i guess.

Posted by cheated > 2018-02-28 22:42 | Report Abuse

2 sen dividend good want to cheat newbies?

Posted by Ricky Yeo > 2018-03-01 08:36 | Report Abuse

You don't apply the strength of the EMH to a market i.e Bursa without taking into account the timeframe. As an example, during extreme end of greed and fear, where homogeneity of the market breaks down, EMH obviously is extremely weak, but during normal period, the market on aggregate is likely to be semi to fully efficient (ignoring the obvious case where collectively doesn't always apply to individual stock)

Posted by 3iii > 2018-03-01 09:55 | Report Abuse

Back of envelope calculation of PE of Hengyuan


FY 2017

Normalised earnings

PBT 973 million
Tax @24% 233.52 m
PAT 739.5m

Capex 800m


Owner's earnings
PAT 739.5m
D&A 189.4m
______________
CFO 928.9m
Capex 800m
--------------

FCF 128.9m




At price of 13.00
No of shares 300 m

Market cap = 13 x 300 = 3,900 million


P/E = 3,900 / 739.5 = 5.27

FCF/Market cap = FCF yield = 3.3%

Risk free interest rate is about 3.5% to 4.0%.


[Therefore, Hengyuan's low PE does not mean it is undervalued. You get better return from your FD risk free interest rate than from investing into Hengyuan.]


MOEWOVER, 2017 was an exceptional year for Hengyuan. Going forward, its earnings are not going to be those of 2017, which was unsustainable. I estimate its normalised earnings to be about 350 million per year. However, due to its high capex, its FCF will be even lower.

Posted by cend0l > 2018-03-01 11:50 | Report Abuse

A broad view is that crack spread will be depressed because oil prices have stablised. With depressed crack spread, its earnings will be mediocre from here on.

Posted by sell > 2018-03-01 11:52 | Report Abuse

If earnings not mediocre why HRC CEO must resign like Pos CEO?

Posted by joetay > 2018-03-01 11:54 | Report Abuse

hrc ceo is holdover from shell.

u never read the financial reports????

Posted by qqq3 > 2018-03-01 17:08 | Report Abuse

good article except
....sure high 2H 2017 earnings repeatable?
don't you know high earnings because no depreciation?
what about business sense and outlook years ahead?

FYI , this is untested management iro of minority rights issues and 2 sen dividend lol

Posted by qqq3 > 2018-03-01 17:11 | Report Abuse

I think will test $ 10 in coming months

Posted by traderman > 2018-03-03 09:43 | Report Abuse

hi, if within expectations there is no sell down from 15 to 12 lar.
pe 4 is not low, if share price now 6 with eps 300 and pe2, that is undervalue

but insiders know already thats why they push above 10 to make it 4 !

Posted by trulyinvest > 2018-03-03 10:19 | Report Abuse

Wil dead cat rebound but it wil drop back cos will miss expectation again yoy in may 2018

Posted by trulyinvest > 2018-03-03 10:20 | Report Abuse

So any rebound is sell..