Posted by Pendekar_BujangLapok > 2019-10-29 11:21 | Report Abuse

Jumlah jualan kereta secara purata pada tahun 2019 akan berkurangan berbanding dengan 2018. Ini adalah kerana 2018 selepas PH memang pilihanraya, ada 3 bulan tiada cukai pembelian. Ramai dah beli kereta. Kedua, Kereta Proton X70 dipasang diluar negara dan pihak pengurusan proton terutama Ceo baru menekan margin keuntungan pembekal. Walaupun jualan perodua amat baik terutama Myvi dan Arus, tertapi kedua dua kereta ini dalah dibawah segment rendah dan bukan segment premium. Oleh it, kadar keuntungan tidaklah setinggi mana untuk pihak pembekal.

Posted by riskabsorber > 2019-10-29 15:40 | Report Abuse

Compared to the counters in the similar industry such as PECCA & NHFATT. Both are doing very well especially PECCA from 70 odd sen to now 1.20+. For new car usually it require new car seats and also new parts from APM. The reason for PECCA is upward but APM is southward is very easy to understand. PECCA's directors are confidence in their own shares, they are acquiring more and more from 70sen to now. However, APM's directors are the other way. From RM6+ until today RM2+, they (except for Tan Heng Chew) never buy a single share. How can they give confidence to us when they themselves are reluctant to hold ?

Posted by suntze > 2019-10-29 16:28 | Report Abuse

pecca profit margin is 12% while apm is 2.5%. imagine pecca revenue is 131.4m and pocketed 16.6m while apm revenue is 10 times pecca which is 1334m but only earn 38m. how to compare? If apm revenue drop 20%, i think the net profit will be same as pecca. So will investor willing to invest in pecca or apm? apm margin will be squeeze further by proton as the chinaman ceo already said that local spare parts manufacturer not competitive enough.

Posted by human > 2019-10-31 22:08 | Report Abuse

EPF continue selling the share.

Posted by Titan > 2019-11-01 12:22 | Report Abuse

APM volume is super low. After reading suntze comment, i think i do agree with her or is it a him. But for me, I would look at APM differently. It will not be a growth or explosive stock but i think it will be a stable and valued stock. Why?.....my reasoning as below

1. It is a net cash company. The cash alone is RM1.50 per lot
"The Group’s financial position remains relatively healthy with a net cash position (=cash and cash equivalent + other investment – bank borrowing) of RM296.3 million.

2. It is full of valuable property. The factory alone in sri kembangan (2unit = RM100M) and Port Klang (3 unit = RM110) is about 220M. This is equal to RM1/lot. Of course APM will not be able to sell at current market price. Lets says APM sell at 50% discount. Anyone buyer?

With above 2 reasons, the cash and property already equal to current share price you paid. The rest of the asset is free.

3. Of course the company will not share the above with the minority share holder. So lets look into the business. APM has 4 business segment. Suspension, Interior & Plastics, Electrical & Heat Exchange and Marketing. The interior and plastics is making a double digit revenue growth (34.5%) and PBT (99%) and it contribute to 65% of company revenue. The 2nd is marketing which contribute 15% of company revenue and have profit margin of single digit. The suspension and electrical and heat exchange reported some marginal losses last few Q. Reason given was increase of the raw material prices which is steel. But steel price has drop and it is at all year low price. Furthermore,, it plasstic raw material whis is the EDPM has also dropped. This will give more profit margin in the interior & plastics segment. I foresee the profit margin will increase in next 2 Q.

4. APM dividend as been generous all this years. At least 5%. Despite low profit margin, they earned enough to distribute margin and have leftover to put into the piggy bank.

5. MBMR expected another record sales for their best seller of MYvi and Arus and UMW has also reported they foresee good car sales and they expect 2019 will be a good year.

With the above rationale, is anyone interested???hehe....no buy or sell call. Just doing some survey.......

Posted by riskabsorber > 2019-11-01 15:46 | Report Abuse

Dear Titan, good analysis. But, why the management don't know about it? Based on suntze's comment, I believe one thing is the local spare parts manufacturer not competitive enough. After Proton change the supply chain. Who will follow them? Not MBMR ?

Posted by Titan > 2019-11-01 17:01 | Report Abuse

if look at APM client list, not only proton and perodua but most of the car brand in malaysia somehow is APM client. Again, like I mentioned, APM might not have a bombastic growth or profit but the current price is undervalued vs the asset they have. With the fall of steel and synthetic rubber price, i guess they will show a better profit margin and will consider as a decent profit. I was wondering how low can it go. At most will be 1.50 and at that price, u get back 1.50 cash.

Also, the others parts supplier such as D&O, pecca and JHM are all trading at a much higher PE. They anticipate better car sales. So it should benefit APM as wll.....no?

Posted by chkhooju > 2019-11-01 17:08 | Report Abuse

The current trend is worrisome. How low can it go?

Posted by Titan > 2019-11-01 17:14 | Report Abuse

dunno....but if the company has a net cash of 1.50 and the price drop to 1.50, if i hv 300M, i go buy the entire company and get back my 300M. Then i sell all asset at 50%......Still pocket 100M+.....LOL

Posted by riskabsorber > 2019-11-01 18:02 | Report Abuse

Dear Titan, precisely if we have 300M, will definitely want to make this move to privatise this company. Just wonder why the one who owned more than 50% did not make any move to convince us there is valuable assets backing.

Posted by Titan > 2019-11-02 06:53 | Report Abuse

No idea but then ppl go public listed so that they can create more wealth for their company n of course for themselves. It is just too bad that investor don't see value in apm. Apm business is not a great business but it still decent as it still earning profit and it is backed with valuable asset n cash. I won't touch if the company is asset rich but losing money. In apm case, asset rice, decent profit, selling below value in my opinion. Just see the retained earning they accumulated all this years.

Posted by Titan > 2019-11-02 09:05 | Report Abuse

Epf has been constantly disposing the shares but u look at the qty, it is so little. Furthermore, the balance epf has is only 10m shares which is about rm20mil. I doubt if epf dispose all will hv a big impact on apm. Epf dispose for some other fund to collect?? I dunno. I just tikam tikam oni...lol.....
But volume is really super low la

Posted by Nepo > 2019-11-02 11:48 | Report Abuse

My opinion is that the share price can't fall below RM1.50 (i.e cash per share), unless panic selling cause by certain bad news.

So the price from RM1.50-RM 2.01 (current price) is a value buy.
Your job is to figure out the bottom..
I think many long-term investors already standby to eye on this counter long time already.
Standby you spare fund.

My view is that the co may declare bonus shares due to huge retained earning.

Posted by chkhooju > 2019-11-02 12:37 | Report Abuse

If there is no change in fundamental reckon there is little to worry. Hopefully this current quarter is still profitable.

Posted by Titan > 2019-11-03 07:28 | Report Abuse

The only changes is the margin has been shrinking. From the QR, it has said due to the raw material ie; steel. I check the current steel price n it has drop to all yr low. It might not directly benefit coming Q because they sure hv some old stk in the inventory bit it will somehow benefit next Q. Also the interior n plastic division has been on double digit growth n profit. With plastic raw material on decline, it should benefit them more. Finally it us the qty of car sales. The more car sold, the better revenue and profit. I do not work in automotive industry but car company foresee better sales ahead and company like jhm n d&o also forecast better revenue. Meaning in consensus, the industry see a gd prospect next yr in automotive industry. Finally, it will be a bonus if bank negara announce rate cut next week. automotive industry should benefit. I hv split my fund to huy all the way to 1.50. just wondering is the management generous enuf to share the cash....lol

Posted by chkhooju > 2019-11-03 10:16 | Report Abuse

Titan, TQ for the useful information. Reckon the current weakness in its share price is great opportunity for us to collect more. Full steam ahead.

Posted by Ncm88 > 2019-11-03 10:44 | Report Abuse

Titan what does this company do ?

Posted by Nepo > 2019-11-03 14:25 | Report Abuse

I only start to accumulate below RM 2. EPF is continuously dumping, so it has great possibility that the price will lost RM 2 support very soon

Posted by ivan9511 > 2019-11-03 14:48 | Report Abuse

This is Rich company.
Tp is 4
I also keep buying. 2.10 I also buy a lot.
Apm still the best at car.
Many car shops still like apm than others
Use brain to think
If most of the car shops use APM do you think will close
I can said better than bjauto
Even I got both but I still said Apm better at least Cash is many mamy
Business confirm the best car products in Malaysia
100% i said must buy
Epf is playing strategy
Remember they buy Armada when cheap now billionaires
Remember epf sell first then buy back dun be stupid

Posted by chkhooju > 2019-11-03 16:09 | Report Abuse

The same thing EPF dealt with Orient. Kept on dumpling initially, but bought back at higher prices later. And now Orient is trading at 6=

Posted by Titan > 2019-11-03 21:30 | Report Abuse

Ncm, APM is in automotive sector manufacturing car parts. They hv 4 segment.
1. Electrical and heat xchange. This segment losing money. 5%
2. Suspension. Losing money as well. Same as 1st.
3. Interior n plastic. Making money. Profit margin about 25%. Revenue also increase double digit.
4. marketing. Making small profit by selling apm parts.

1&2 lose money due to high raw material cost ie: steel but steel price has dropped to all yr low now. Also plastic resin has dropped 25%. So i guess this will helped apm. The above is just wht i remember from the AR n QR. U might want to cross check. But i notice most of the car manufacture in malaysia is his client.

Nepo, accumulate below 2? I park at 2.00 for many days but cannot get. Then increase 2.01, 2.02, 2.03....until manage to get some at certain price. The last friday closing of 2.00 is not accurate coz seller all park at 2.08. anyway, if drop more, then i will accumulate alittle more.

Posted by Ncm88 > 2019-11-03 21:54 | Report Abuse

Oh no wonder i see why they do many things end up margin so low.. but looks like rebounding soon as volume has pick up these few days

Posted by Nepo > 2019-11-04 06:58 | Report Abuse

If Epf is selling and then buy back later on, why don't you wait to buy in when Epf starts to buy in, instead of buying while Epf is selling.

The logic is simple, I, as a normal person only have limited resources, so only buy in when the price is certain, I.e a situation when you don't have to wait for a long time for u to generate profit, this price may not be the lowest, but it is safe that u may generate profit easily.
Of course, the lower the better.

At the moment (in my honest opinion), there is no indication that the price is starting to move upwards. The increase in volume done is the selling force, I.e it is selling mode.

EPF is not the operator in this counter. So far the operator in this counter is nowhere to be seen. When there is a operator, any selling force (e.g by EPF)will be fully absorbed and price will not force down easily.

I am just sharing my thought to minimize the trading risk, however I may be wrong anyway. Who knows the operator might come in today :)

Posted by riskabsorber > 2019-11-04 09:52 | Report Abuse

Dear Nepo, you're right. We don't know the bottom and since EPF is still aggresively disposing (might be due to some insider news). We should not just focus on NTA which currently trading 1/3 of NTA. There are ample of valuable counters to be invested based on NTA. Only until the management starts to look into the value in APM and start buying, we better stay away to protect our cash holding.

Posted by Titan > 2019-11-04 13:11 | Report Abuse

I'm not good at timing the market. No such skill. So just nd to buy whenever comfortable with the price and hold on to it. Did the same with harta. Epf was selling n bought some and continue to average down. I think hold already for 6 months+ and finally it move abit. Hv 15% profit. At my age, not ambitious. 10% a year is good enuf...lol...

Posted by Ncm88 > 2019-11-04 14:02 | Report Abuse

Epf selling means buying time. This is the rule of bursa, epf buy means u got to sell

Posted by ALI IDRIS > 2019-11-04 15:25 | Report Abuse

Noted with thanks

Posted by Ncm88 > 2019-11-04 19:40 | Report Abuse

Bought some today after i checked their balance sheet quite healthy .

Posted by Ncm88 > 2019-11-04 22:13 | Report Abuse

The only thing dragging them is indonesia operations...

Posted by Titan > 2019-11-04 22:41 | Report Abuse

wahh....ncm also on board? bought truckload of it??....lol....

Posted by suntze > 2019-11-05 10:12 | Report Abuse

all guesses and living on hope that it will go up. i wish you all the best.

Posted by Ncm88 > 2019-11-06 04:12 | Report Abuse

Suntze dont laugh at me lo.. when i parked my money at mudajya many say gg counter, cant believe really limit up 100% lol.

Posted by Ncm88 > 2019-11-06 04:13 | Report Abuse

Any counters related to epf is a good money counter. When they start selling u just follow buy. Happens to inari and uzma as well

Posted by Titan > 2019-11-06 11:14 | Report Abuse

I don't work in apm. So i need to mk certain guesses and assumption. U hv accurate numbers? Why dun share with all of us since mine us only guesses.

Posted by Nickychung > 2019-11-06 14:02 |

Post removed.Why?

Posted by chkhooju > 2019-11-09 15:54 | Report Abuse

If you want to promote ARBB please go to the said forum. Don't be a nuisance here.

Posted by chkhooju > 2019-11-09 15:58 | Report Abuse

Now that EPF is no longer a substantial shareholder there is not much for it to dispose. Once it dries up APM will shoot up. If you have faith in APM now is the time to accumulate.

Posted by human > 2019-11-09 17:38 | Report Abuse

Are there TA coverage for APM.

Posted by Ncm88 > 2019-11-11 10:50 | Report Abuse

Looking good today :)

Posted by Titan > 2019-11-11 16:04 | Report Abuse

dun see any TA coverage but it looks like the support is at 1.98. Chart shows downtrending but also oversold. So i guess it will consolidate around this area. APM only has about 10M unit to sell. I doubt they will exit completely. So room to fall lower is not high but this is my opinion. If upcoming QR, management announced a better dividend or slight increase in profit and revenue, it will rebound.

Posted by human > 2019-11-11 20:52 | Report Abuse

record wise APM announce dividend on April and Aug then pay on Jun and Oct.
If APM continue such practice then next dividend payment will be minimum another 6 months.

Posted by shpg22 > 2019-11-12 10:08 | Report Abuse

With CCB on track for privatization, APM may follow suit probably around fair price of 3.80

Posted by Ncm88 > 2019-11-12 12:39 | Report Abuse

Oiii dont say the obvious...

Posted by Titan > 2019-11-13 14:40 | Report Abuse

CCB also can bcome target for privatisation? Like that APM can close eyes and privatise also. Cash is RM1.50/share. Factory and wharehouses sitting on goldmine. The landbank is all in prime area and therefore the land is suitable for housing or commercial development.

Posted by David_share > 2019-11-13 16:14 | Report Abuse

Will keep accumulate slowly

Posted by Nepo > 2019-11-13 16:16 | Report Abuse

@Titan "APM volume is super low. After reading suntze comment, i think i do agree with her or is it a him. But for me, I would look at APM differently. It will not be a growth or explosive stock but i think it will be a stable and valued stock. Why?.....my reasoning as below

1. It is a net cash company. The cash alone is RM1.50 per lot
"The Group’s financial position remains relatively healthy with a net cash position (=cash and cash equivalent + 'other investment' – bank borrowing) of RM296.3 million."
______________________________________________________________________________

Just wondering what is inside the 'other investment'? Is it invest in listed companies in Bursa Malaysia? It is NOT stated clearly in the Annual Report 2018.

Posted by riskabsorber > 2019-11-13 16:45 | Report Abuse

@Nepo Other investment - most likely is unit trust in licensed institution.

Posted by riskabsorber > 2019-11-13 16:54 | Report Abuse

@Titan, since they owned close to 50%, they may use their cash to just give selective capital repayment exercise at RM2.00 and privatise without costs to them. They not even want to buy from EPF at current price, do you think they will privatise above this price? Share-buy-back of 10mil shares is only cost them RM20mil from their coffer, but with net cash alone of RM1.50 per share or RM300mil in the financial statement cannot afford to utilize RM20mil? The management is purposely want this situation to be persist and privitize below RM2 and benefit themselves.

Posted by Nepo > 2019-11-14 08:42 | Report Abuse

Yes, can start accumulating APM, very low risk already, yesterday started buying in.

Even ICAP Bhd hold APM 4,431,300 shares @ RM 3.84 per share.

Look at any angles, it is a very worthy stock to collect, Not many shares have this this fundamental and yet have a very attractive price, if I can buy around RM 2 is already a bonus, Some more based on past records, it is has a very trustworthy management, don't miss this CHANCE.

If price drop, buy more, in anyway it won't drop below RM 1.50 unless incurred a huge loss but it is less likely to happen because the co has been in a stable situation for a long time already and has established firm business arms over the years.

If i am not mistaken, the company is the market leader in the field they engaged.

Posted by Titan > 2019-11-14 13:50 | Report Abuse

@risk, Not able to predict what management think coz i'm not insider. But when look at the company fundamental, i find it is strong. So just buy some and wait loh. Every 10c drop, i buy abit more. If management really want to play games and drop till Rm1.50.....all i can say is keng....