Posted by ZulBMW8058 > 2018-09-05 15:14 | Report Abuse

candyliow99 100% ✓✓

Posted by commonsense > 2018-12-07 11:32 | Report Abuse

At first when i look at the company 2Q18 result, i was a bit bullish on the outlook given that the company recorded a growth of PBT from RM1.8mil to now RM4.3mil. In addition the PBT in 2Q18 was derived from a lower revenue from last year. Initially i thought it was because of the change in focus from construction contract in FY17 to property development in FY18 of which the latter normally has higher profit margin.

But upon studying their result in details, the jump of PBT profit was mainly attributed to the gain on disposal of one of its subsidiaries, amounting to RM 2.6mil. Excluding this PBT would have actually been RM1.7mil which is a slight drop vs last year result. in terms of PAT if normal tax rate were used (24%) PAT would have been around RM1.3mil.

In terms of valuation even if the company managed to get a PAT of RM6mil for the full year of FY18 (1H18 PAT is RM2.2mil), the company's valuation is still high at 16.5x PE. However given the list of projects that the company have at the moment you would assume that the company profit will catch up to the valuation later. Some of the list of project that the company said it is pursuing are:

1) Prima housing in Alor Gajah. GDV RM100mil
2) Housing project in Bangi. GDV RM90mil
3) Prima project in Bukit Jalil. GDV RM155mil
4) Perumahan Penjawat Awam 1Malaysia in Putrajaya GDV RM324mil
5) Affordable housing in Pahang contract value RM166mil
6) Mixed development project in JB GDV RM700mil
7) Mixed development project in Kuantan GDV RM330mil
8) Mixed development project in KL GDV RM202 mil
9) Mixed development project in Melaka GDV RM206 mil

However upon going thru their balance sheet in detail, i have doubts of them being able to pursue these project in the near future. Which means profit level might still be at the RM6mil level in FY19.

If you go through their 2Q18 report, you will notice that cash flow from operation is still negative given that most of the sale is still in receivables. Then you would also notice that the debt level has actually more than double compared to 2017 but still at a manageable at RM61mil. Given the cash balance of RM18.9mil you would think it would be sufficient until some of the receivables (RM77mil) can be converted into cash. But if you look at the cash flow statement, u notice that RM16.4mil are actually pledge to the bank which leaves the company only with a free cash balance of RM2.5mil (and even that RM4.8mil are bank overdraft).

Unless the company convert those high receivables to cash, you have to assume that they are likely to face some liquidity issues which might effect the progress of their property projects. Most probably they will need to raised further capital.

If you are interested in the company, better wait for their balance sheet to improve first. If you are interested in the property industry, there are actually a lot of companies that are cheaper and have stronger balance sheet at the moment.

For those looking to diversify their portfolio outside of the property industry, i would recommend them to look at MBMR.

The company is a direct proxy to Perodua via its 22.6% interest in the company. Valuation is cheap at only 5.9x PE (based on target FY18 PATAMI of RM145mil. 9m PATAMI is already RM106mil). PB is low at only 0.6x BV. 4Q18 results is expected to be higher than 3Q18 and last year's 4Q17. And FY19 growth will be driven by the still high demand of new Myvi and the launch of the new SUV in 1Q19.

Please go through the analyst reports (https://klse.i3investor.com/servlets/stk/pt/5983.jsp) and do your own analysis before making any decisions.

Hope OCR can proof me wrong and deliver the profit growth that is expected of them from their existing shareholders.

Good luck

Posted by Candyliow99 > 2018-12-31 17:45 | Report Abuse

bad QR

Posted by Dingdongbell > 2019-01-11 22:06 | Report Abuse

Good chance to collect, and keep..

Posted by JaBerry > 2019-01-28 12:29 | Report Abuse

I thought company got some announcement

Posted by Klse_faizan > 2019-02-19 16:27 | Report Abuse

collect mode. :)

Posted by LuvLuv > 2019-02-20 20:08 | Report Abuse

OCR PA holders is advisable to swap to ocr wd when its listed if you want to be in the ring...

Posted by LuvLuv > 2019-02-20 20:14 | Report Abuse

OCR WD is expected to trade in the range of 0.09-0.12,lets see

Posted by Klse_faizan > 2019-02-21 11:27 | Report Abuse

tomolo never die

Posted by Candyliow99 > 2019-02-27 19:24 | Report Abuse

die long long already

Posted by noobbie > 2019-02-28 12:02 | Report Abuse

todays gem

Posted by LaoTzeAhSir > 2019-03-01 23:10 | Report Abuse

r. i. p con stock n con ong kah hoe. yet another signed contract being terminated by rubbish gov

Posted by Candyliow99 > 2019-03-02 00:39 | Report Abuse

https://www.klsescreener.com/v2/news/view/497720

Posted by CFTrader > 2019-03-04 11:56 | Report Abuse

I have only have 1 sentence to say to this company.

Screw this rubbish company.

Sincerely
CFTrader

Posted by noobbie > 2019-03-14 09:57 | Report Abuse

finally move...gogogogo

Posted by noobbie > 2019-03-26 10:05 | Report Abuse

woohhooooo..gogogogogoog

Posted by rosetan > 2019-03-26 11:40 | Report Abuse

https://www.thestar.com.my/business/business-news/2019/03/25/permaju-industries-ocr-to-develop-rm1bil-project-in-kota-kinabalu/

Posted by birkincollector > 2019-03-26 12:46 | Report Abuse

have a feeling ocr will be pushed up like Permaju....same group of ppl behind

Posted by hairi > 2019-03-26 19:13 | Report Abuse

Ocr wd if follow wc premium should be 23 sen by now....

Posted by char1234 > 2019-03-27 01:02 | Report Abuse

bad company ? but share is open for goreng

Posted by noobbie > 2019-03-27 10:19 | Report Abuse

people dont realize the value yet...later when realize..sure fly high..look at permaju now..beautiful upside..

Posted by noobbie > 2019-03-27 16:36 | Report Abuse

gogoggogoo

Posted by noobbie > 2019-03-27 16:37 | Report Abuse

cheap warrant..nobody want till it move higher...lol

Posted by birkincollector > 2019-03-29 11:01 | Report Abuse

permaju everyday up this one turtle lol

Posted by Bull > 2019-03-29 16:10 | Report Abuse

Someone please wake this OCR up...
Sleeping beauty !

Posted by Bull > 2019-03-29 16:10 | Report Abuse

Every stocks up, this stock choose to sleep T^T

Posted by luckyman > 2019-03-30 09:37 | Report Abuse

As a listed property & construction company, the group reported RM7mil revenue only for the last 2 quarters. Many other non-listed companies outperformed them.

It's simply not acceptable, the management team needs to wake up or be changed entirely, Sleeping on their job! They are being paid for doing so little.

Posted by Destiny88 > 2019-03-30 11:25 | Report Abuse

https://m.facebook.com/story.php?story_fbid=2308173379397408&id=100006143041912

Next time AGM go throw chair... OCR management getting paid and do nothing.

Posted by aris743 > 2019-04-01 12:40 | Report Abuse

noon ocr move

Posted by birkincollector > 2019-04-01 13:27 | Report Abuse

Think wanna goreng already. Pattern like permaju

Posted by cytew > 2019-04-01 17:44 | Report Abuse

You can slowly accumulate OCR ...

Posted by Destiny88 > 2019-04-01 23:12 | Report Abuse

Any reasons Mr Tew ? Thanks

Posted by Bull > 2019-04-02 14:19 | Report Abuse

Sleeping counter... wake up wake up

Posted by Destiny88 > 2019-04-02 15:51 | Report Abuse

Who keep throwing non stop ?

Posted by cytew > 2019-04-03 10:41 | Report Abuse

"kitchen sinking "was done last year, so expecting good results for 2019

Posted by Destiny88 > 2019-04-03 11:04 | Report Abuse

Cant catch your ball... what do you mean by kitchen sinking?
Can explain more Mr Tew ?

Posted by Destiny88 > 2019-04-03 11:04 | Report Abuse

Thanks in advance

Posted by Destiny88 > 2019-04-03 12:26 | Report Abuse

Permaju after announce getting project day day rise.
When will be OCR turn ? Sad

Posted by Bull > 2019-04-03 13:14 | Report Abuse

Just dont understand why the total project value for OCR is a lot more than permaju and the balance sheet is more nicer for OCR but the share performance of OCR is still lagging so much behind.

Getting 1GDV project then permaju everday shooting. today touch 0.555 and OCR still sleeping in the range of 26c- 27c no any movement.

Posted by noobbie > 2019-04-03 13:33 | Report Abuse

as i told u before...people doesnt realize the value yet..be patient..only the loyal wil be reward..

Posted by Destiny88 > 2019-04-03 13:49 | Report Abuse

@noobie can share any info which make you think it is value ?

Posted by Bull > 2019-04-03 14:45 | Report Abuse

Come move a little la! Dont everyday sleep. Market day day bull
why u keep sleeping

Posted by Destiny88 > 2019-04-03 15:27 | Report Abuse

Who keep throw when push ? Diu... sienz

Posted by Bearybull > 2019-04-03 22:44 | Report Abuse

sleeping beast

Posted by aris743 > 2019-04-04 07:48 | Report Abuse

ocr will move today

Posted by Destiny88 > 2019-04-04 10:19 | Report Abuse

Gogogo please wake up ! Take note for OCR new son WD low premium + long duration

Posted by birkincollector > 2019-04-05 08:17 | Report Abuse

price probably pressed down by ACE Holdings selling off OCR shares to return money to investors? i think they already sold everything.....so may be up from now??

https://www.theedgemarkets.com/article/ace-holdings-return-rm814-million-investors-due-disclosure-false-information

Posted by cytew > 2019-04-06 15:10 | Report Abuse

Accumulate slowly pending better financial results in 2019

Posted by aris743 > 2019-04-08 21:23 | Report Abuse

good move ocr

Posted by aris743 > 2019-04-12 12:47 | Report Abuse

eve ocr will move