Posted by Mrspeaker > 2021-05-12 13:22 | Report Abuse

gcke which segment of harbour is facing chip shortage? harbour's main business activities are maritime shipping and integrated logistics. and its pe is way lower compared to its peers freight and tasco. it also has a higher eps compared to peers in this industry

Posted by Mrspeaker > 2021-05-12 13:23 | Report Abuse

perhaps I have missed a part in their business structure where they operate in the semiconductor industry? hahaha!

Posted by Mush Joker > 2021-05-12 22:45 | Report Abuse

hahaha harbour = semicon. wow we have more dumbi dumbi now

Posted by Lam LH > 2021-05-17 10:46 | Report Abuse

haizzzzz back to square one.

Posted by trader808 > 2021-05-30 13:13 | Report Abuse

This logistic company is quite well managed. Company just reported profit of 13.98m for its 3rd quarter. The cumulative 9Mths profit is 35.4m and this has exceeded one whole year profit of 26.6m for 2019.
The company has cash 152m, investment securities 25.6m and other current assets 34.9m. These add up the liquid cash to 213.2m. This number is impressive. Its short term borrowings is 29.5m and long term debts is 36.8m ,Therefore total debts is 66.3m and the gearing is manageable.
Company has 249m retained earnings and pay 1sen dividend. It has strong balance sheet and sound financial ratio. Share price is on the uptrend but the volumn traded is not very great. Market is always in favour of gloves, plantation, oil n gas and lately steel but NOT logistic counters. Hopefully, someday it will shine.
30/05/2021 1:12 PM

Posted by Bestwishes > 2021-05-30 16:26 | Report Abuse

Worth to buy and keep ..

Posted by New994 > 2021-05-31 09:43 | Report Abuse

other manufacturing sector affected as 60% allow to work only, logistic run 100%!!!

Posted by trader808 > 2021-05-31 20:53 | Report Abuse

Freight Management Holdings (FMH) is also a logistic company that is well managed and in the same category with Harbour. The company has just reported profit of 6m for the 3rd qtr and the cumulative 9 months profit is 18.4m. This compares less favourably with Harbour that announced 13.98m and cumulative 9 months profit of 35.4m. These profit performance numbers are vastly different.

FMH company has cash 47m and long term debts of 57.7m and short term borrowings of 33.5m which adds up the total borrowings to 91m. Again these numbers compare acutely unfavorably with Harbour that has 213.2m cash and borrowing of 66.3m
FMH company has reserve retained earning of 192m whereas Harbour has retained earning of 249m. It pays 2 sen dividend and Harbour pays 1 sen. It balance sheet is weaker and free cash flow from operation is lesser and its gearing is higher compare with Harbour.
Despite its less attractive numbers yet FMH is trading at RM1.78 and has a market capital of RM497m whereas Harbour is sadly trading at 90sen and a market capital of 360m.

Basing on these numbers of comparison i believe someday Harbour which is currently unknown, unrated and not cover by analyst will someday move closer to FMH when the public investors get to know this lesser known company.

Posted by GreenHorse > 2021-06-10 11:39 | Report Abuse

finally moving

Posted by Bestwishes > 2021-06-10 12:20 | Report Abuse

Go Harbour !!!

Posted by SpicyMcDeluxe > 2021-06-10 15:46 | Report Abuse

kekw

Posted by Targeted > 2021-06-10 16:18 | Report Abuse

Looking good....

Posted by Targeted > 2021-06-10 16:52 | Report Abuse

Nice setup for tomorrow......... 3rd time lucky...... Its loooking great......

Posted by Targeted > 2021-06-11 09:36 | Report Abuse

Move starting....

Posted by Michael Kwok > 2021-06-11 10:50 | Report Abuse

My TP is rm 1.30-rm 1.40.Ship got luck.3 consecutive time ship never sunk(bring losses).SYS and Armada.If this I bought maybe will be 4 consecutive will win.Ship ramp the bad luck off.Philip say he buy tht.

Posted by Michael Kwok > 2021-06-11 10:51 |

Post removed.Why?

Posted by Michael Kwok > 2021-06-11 11:14 | Report Abuse

Can buy at 94 cents below.queing for 7 trading day.(Technical)

Posted by Mrspeaker > 2021-06-14 11:37 | Report Abuse

congratulations to all harbour investors. this marks the beginning of a new upmove

Posted by Targeted > 2021-06-14 11:50 | Report Abuse

Steady Eddy......

Posted by Bestwishes > 2021-06-14 18:48 | Report Abuse

Strong closing ..

Posted by Godblessyou > 2021-06-14 18:52 | Report Abuse

It’s gonna break 52 wk high convincingly tomorrow!!!

Posted by Mrspeaker > 2021-06-14 20:08 | Report Abuse

it already broke 52 week high today my friend hahah

Posted by Mrspeaker > 2021-06-14 20:09 | Report Abuse

the most underrated logistics company in bursa

Posted by SincereStock > 2021-06-14 21:29 | Report Abuse

the most underrated logistics company in bursa should be SURIA

much better EPS compare to Harbour at it's peak before pandemic kicks in,
huge NTA discount, NTA is almost 3x the price
still much better DY than Harbour even at it's weak performance year of 2020
cash > borrowing, very insignificant financial cost to be deducted from profits (much better debt position than Harbour)

while HARBOUR's price is moving up, SURIA should move even further up, SURIA is moving slower behind HARBOUR as of today, hopefully will chase up tomorrow

Posted by Mrspeaker > 2021-06-15 00:11 | Report Abuse

Thank you for your sharing. However, a few things should also be pointed out. Suria's pre2019 EPS has to be diluted through the bonus issue of 1:5 and is not the best indicator of current performance.

Currently, Harbour's rolling 4 qtr EPS stands HIGHER, at 9.74(PE10.99) compared to Suria's at 9.01 (PE12.54). Harbour is also enjoying 3 consecutive quarters of growth in both revenue and profit after tax, whilst Suria is experiencing a shrinkage in revenue for 3 consecutive quarters.

During harsh economic conditions, the company that is able to report a growing PAT and perform better than its peers usually comes out of the economic downcycle stronger than before.

While NTA is a good measure of the BOOK value of a company, it is simply a collateral of the company to be used in the case of privatisation or financial distress, not capital gains.

The DY of Suria is indeed better at 2.92% compared to harbour's 0.93%. However, this is easily compensated by Harbour's much higher ROE == 8.7% compared to Suria's very low ROE of 2.79%.

One can expect higher capital gains in harbour than Suria. Thank you.

Posted by Mrspeaker > 2021-06-15 00:16 | Report Abuse

I believe the smart investors here know HARBOUR is worth way more, a simple method of valuation is the relative valuation. This is done through the assumption that every other company in the industry is correctly priced except for the company being analysed. Taking Freight (PE = 23.98) and Tasco (PE = 23.07) as reference, HARBOUR should be priced at PE*EPS = (23*9.74)/100 = RM2.24. Even if we take a 30% discount to accomodate for HARBOUR's smaller size and volume, it should still be priced atleast RM1.568 ceteris paribus. Thank you.

Posted by SincereStock > 2021-06-15 08:44 | Report Abuse

@Mrspeaker thanks for the argument, I am kinda agree with your EPS argument, good argument indeed. But I strongly disagree the way you overlooked NTA.

Warren Buffett himself emphasized a lot on NTA. in some extend you are right, "it is simply a collateral of the company to be used in the case of privatisation or financial distress", which is is 2 very important consideration for investment. refer to MMCCORP, never say never to privatization. as for financial distress, it also can happen, good to have protection by NTA. Personally, I am against buying any company above NTA, not because I think they don't worth it in the future, but why buy at their future value, while there are many good company like SURIA that is hugely discounted in their current value, you can gain hard if hit privatization jackpot. at the same time price still move up in the market. In case of any crisis, says profitability cannot be sustained anymore, the value of the company is still there in the form of NTA.

Thank you

Posted by Mrspeaker > 2021-06-15 10:42 | Report Abuse

very fruitful discussion we have had @SincereStock. wish both our counters rise up and reward us with our efforts

Posted by SincereStock > 2021-06-15 10:48 | Report Abuse

@Mrspeaker hehe same here, wish both our counters rise up and reward us with our efforts ^_^

Posted by BilisMrJ39 > 2021-06-15 20:49 | Report Abuse

Even a pig can fly if it stands at the center of a whirlwind.

Suria - High NTA, lower risk
Harbour - Higher growth

Jz buy both Suria and Harbour. The industry is booming.

Posted by Mrspeaker > 2021-06-17 09:45 | Report Abuse

harbour making the next upleg

Posted by Mrspeaker > 2021-06-17 09:47 | Report Abuse

big buy volumes are entering

Posted by DL60 > 2021-06-17 09:58 | Report Abuse

The company's shipping division that has been underperformed in the past will make a strong contribution to the group result due to fire up shipping rate this year

Posted by DL60 > 2021-06-17 10:13 | Report Abuse

https://www.thestar.com.my/business/business-news/2021/06/13/out-of-control-shipping-costs-fire-up-prices-from-coffee-to-toys

Posted by Mrspeaker > 2021-06-17 10:48 | Report Abuse

for simplicity, HARBOUR's fair value based on industry relative valuation is RM2.24 at PE23. Even if we take a 30% discount to accomodate for HARBOURs smaller size and volume, it should still be priced at RM1.6 ceteris paribus

Posted by pharker > 2021-06-18 15:56 | Report Abuse

Just look at other Asian Shipping Lines counters like Wan Hai and Evergreen..the uptrend is still intact.

Another counter is Maybulk..any comments on this one? Just for comparison

Posted by Mrspeaker > 2021-06-18 16:35 | Report Abuse

uptrend is definitely still intact, this afternoon was a good chance to collect some at resistant turnt support 1.10-1.11

Posted by Mrspeaker > 2021-06-18 16:36 | Report Abuse

todays pullback is accompanied with lower volume compared to the past few days, low volume pullbacks are good during an uptrend

Posted by Mrspeaker > 2021-06-18 16:37 | Report Abuse

however do note that tasco seems to be struggling. that may be the reason why sentiment is dull today

Posted by pharker > 2021-06-18 21:09 | Report Abuse

good info. thanks

Posted by Mrspeaker > 2021-06-21 14:43 | Report Abuse

good chance to collect now

Posted by Dante5566 > 2021-06-21 14:45 | Report Abuse

sharks oledi goreng up, need to fall back further

Posted by Mrspeaker > 2021-06-21 14:46 | Report Abuse

dont think so. volume of retracements are greatly lower than up days, sharks that bought up are still in

Posted by Mrspeaker > 2021-06-21 14:46 | Report Abuse

if anything this might be a bull flag

Posted by Mrspeaker > 2021-06-21 16:21 | Report Abuse

buying volume > selling volume even for a bad sentiment day... a resilient stock during downtimes will shine the brightest on good days

Posted by pharker > 2021-06-21 18:06 | Report Abuse

Yes sir....
Despite ugly overall market sentiment. this counter still managed to inch up 1 cent. Remarkable indeed..hopefully more to come

Posted by Targeted > 2021-06-21 18:23 | Report Abuse

Charter rates are currently still rising........ Gona be a blockbuster season.....

Posted by Mrspeaker > 2021-06-21 22:39 | Report Abuse

even if charter rates do not rise, the pick up in trade volume both locally and internationally will benefit harbour.

Posted by Mrspeaker > 2021-06-21 22:39 | Report Abuse

but yes @Targeted, you are right

Posted by Mrspeaker > 2021-06-21 22:55 | Report Abuse

2 comparable peers of HARBOUR are FREIGHT and TASCO. 2 of them have an average PE~21. The respective EPS and traded PE are listed below.

HARBOUR EPS= 9.74, PE = 11.5
FREIGHT EPS =3.5, PE 22.84
TASCO EPS=5.16, PE = 21.32

From here we can see that HARBOUR is severely undervalued (at half the price it deserves) despite having the highest profit margin = 9.2%. It also has a healthy ROE of 8.7%.

The concept of relative valuation is that the industry peers are valued correctly and the company being analyzed is not.

This means that for HARBOUR to be valued correctly ceteris paribus, is for its PE = 21, i.e. share price to be RM 2.04.

Since charter rates are still on the rise, and both domestic and international trades are on a positive trajectory, I foresee HARBOUR's earnings to overperform for the coming quarters. Thank you