QR just out.Increase in profits by 40% vis-a-vis last year QR.The Technical Price Charts for this counter very bullish.Expects an trend in the stock price.Good luck:-)))
my average C9 cost is 0.125, C10 cost is 0.12, this time really huat until mother also can not recognize liao, more importantly, i bought 10 lorries each, huat ah !!!!!!!!!
Above; U/G to BUY 1Q17’s PATAMI of MYR1,306m (+120% YoY, +32% QoQ) was above our estimate, making up 37% of our full year forecast, and was at consensus’ top estimate. Factory utilisation rate surprised positively at 99% (+7ppt YoY, +4ppt QoQ). We raise 2017-19 earnings forecasts by +13.5%, +7% and +7% respectively to factor in lower effective tax rates as guided by the management. TP now is at MYR8.10 (+6%), based on an unchanged 8.5x 2017 EV/EBITDA peg, which is on par with global peers. Upgrade to BUY. Smooth operator The people of PCHEM deserve a standing ovation as the plant operational reliability has been spectacular in the past five quarters. More impressive, they’ve been able to extract cost savings from lower utility consumption on per unit product basis and also efficiency gains on manufacturing costs. We believe PCHEM will be able to achieve utilization rate surpassing 90% on a consistent basis going forward. Management guidance on product prices in 2Q17 Management states that there will be pricing pressure in 2Q17 for urea, methanol, aromatics and methyl-ethylene glycol due to sufficient capacity and seasonality aspects. On the flip side, ammonia and ethylene prices are holding up well. On balance, we think 2017 is shaping up to be a fantastic year as the year-to-date ASPs are up by 22% to MYR3,452/ton. The latest global PMI is firmly in the positive territory at 53 as at end of Mar which suggests there will be big demand for petrochemical products. BUY on strong earnings growth potential Our house view is for average crude oil price to rise by a modest USD5/ bbl per annum. This should ensure a benign inflationary pressure globally and underpin strong demand for basic materials and petrochemicals. Also, new capacity output is only rampant in Asia Pacific and the USA, whilst other regions are decommissioning their old plants. Therefore, we forecast product margins to remain firm in the next 1-2 years.
Samur project The SAMUR project consists of an ammonia plant, urea plant, and a granulation plant, as well as utilities and jetty facilities in Sabah. The total installed capacity is 1.2 million metric tonne per annum. The plant has achieved an important milestone whereby it has been certified to run as per its design nameplate capacity on 12 May. This means that it will start to contribute to the group earnings from 2Q17 onwards. Management is targeting for a utilisation rate of 70-75% in 2017, 80% in 2018 and PCHEM’s typical above 90% utilisation rate from 2019 onwards.
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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....
slbzr
168 posts
Posted by slbzr > 2016-09-22 12:38 | Report Abuse
wow very good prediction, keep it up