Post the disposal of its remaining 51% interest in the loss-making timber business Aturmaju (Sabah) Holdings Sdn Bhd (AHSB) for RM5.6m on 24th June 2020, ARB has fully transformed itself to be involved in the IT business, focussing mainly on the Enterprise Resource Planning (ERP). Since the transformation started in 4Q18 when the group decided to diversify into the IT segment, it has then experienced a significant jump in its FY19 earnings to RM34.8m (+828%YoY). The higher earnings was attributed to sales from: (i) Small and Medium Enterprise (SMEs) (given their low adoption of business digitalisation), and (ii) Government-linked Companies in South East Asia. The stock (which was unchanged at RM0.32 yesterday) has recently been trending sideway after retracing from a high of RM0.42. From an Ichimoku technical perspective, the stock is currently staging a potential “Kumo Breakout”, which could head towards our resistance target of RM0.39 (+21.8% potential upside). Meanwhile, should the buying momentum persist the next resistance level can be seen at RM0.42 (+31.2%). Our stop loss level is pegged at RM0.265 (or 17.1% downside risk). From a fundamental perspective, the group is currently trading at an undemanding PER of 3.3x (based on historical earnings) with a net cash position of 8.6 sen/share (representing c.30% of its share price)
ARB BERHAD Additional Listing Announcement /Subdivision of Shares
Details of corporate proposal Details of corporate proposal : Conversion of Irredeemable Convertible Preference Shares to Ordinary Shares No. of shares issued under this corporate proposal : 35,968,000 Issue price per share ($$) : 0.20 Listing Date : 13/07/2020
1. Viewpoints - Green growth is an important part of sustainable development to ensure fast, efficient and sustainable growth while making a significant contribution to the implementation of the national climate change strategy. - Green growth is by the people and for the people, contributing to employment, poverty reduction and improving the material and spiritual life of all people. - Green growth must lead to increased investments in conservation, development and efficient use of natural capital, reduction of greenhouse gas emissions and improvement of environmental quality, and thereby stimulating economic growth. - Green growth must be based on science and modern technologies which are suitable to Viet Nam’s conditions. - Green growth is the cause of the entire Party, all people, every level of Government, ministries, localities, enterprises, and social organizations.
2. Objectives a) Overall Objective: Green growth, as a means to achieve a low carbon economy and to enrich natural capital, will become the principal direction in sustainable economic development; reduction of greenhouse gas emissions and increased capability to absorb greenhouse gas are gradually becoming compulsory and important indicators in socio-economic development. b) Specific objectives - Restructure the economy and perfectize the economic institutions by greening existing sectors and encouraging the development of economic sectors to use energy and natural resources efficiently with higher added values; - Conduct research and enhance application of appropriate advanced technologies to more efficiently use natural resources, reduce greenhouse gas emissions intensity and to contribute to an effective response to climate change; - Improve living standards of the people, creating an environment friendly lifestyle through employment generation from green industry, agriculture and services; investment in natural capital; and development of green infrastructure. II. STRATEGIC TASKS 1. Reduce the intensity of greenhouse gas emissions and promote the use of clean and renewable energy according to the following essential targets The period 2011-2020: Reduce the intensity of greenhouse gas emissions by 8-10% as compared to the 2010 level; reduce energy consumption per unit of GDP by 1-1.5% per year. Reduce greenhouse gas emissions from energy activities by 10% to 20% compared to the business as usual case. This commitment includes a voluntary reduction of approximately 10%, and an additional 10% reduction with additional international support. Orientation towards 2030: Reduce annual greenhouse gas emissions by at least 1.5-2%; reduce greenhouse gas emissions in energy activities by 20 to 30% compared to business as usual. Of this commitment, the voluntary reduction will be approximately 20%, and a 10% is dependent on additional international support. Orientation towards 2050: Reduce greenhouse gas emission by 1.5-2% per year.
2. Greening production Implementation of a “clean industrialization” strategy is conducted via reviewing and adjusting existing sectoral master plans to ensure economic and efficient use of natural resources; encouraging the development of green industry and green agriculture based on environmentally friendly structures, technologies and equipment; enhancing investment in natural capital; pro active prevention and treatment of pollution. Key targets for green production towards 2020 are: The value of hightechnology and green technology will make up a share of 42-45% of GDP; the rate of commercial manufacturing facilities that meet environment standards will reach 80%, application of clean technologies will reach 50%, development investment for supporting sectors to protect the environment and enriching natural capital will reach at 3-4% of GDP. 3. Greening lifestyle and promoting sustainable consumption The rich and beautiful traditional lifestyle is combined with civilized and modern means to create comfortable, high quality and traditionally rooted living standards for people and society of a modern Viet Nam. Implementing rapid and sustainable urbanization while maintaining the living in harmony with nature in rural areas and establishing sustainable consumption behaviours within the context of global integration. Key targets for the period towards 2020 include: The rate of grade III cities with wastewater collection and treatment systems that meet regulatory standards: 60%; those of grade IV and grade V cities and craft villages: 40%; improving environment in severely polluted areas 100%; rate of waste that is collected and treated under standards provided by the Prime Minister’s Decision No. 2149/QĐ -TTg; the area for trees reaching urban standards; share of public transportation in large and medium cities reaching 35-45%; the rate of large and medium cities gaining green urban standards reaching 50%. III. SOLUTIONS 1. Communication, awareness raising and encouragement of support to implementation - Organize communication, education and awareness raising activities for the people and for communities on the role and meaning of green growth as well as pragmatic actions that contribute to implementation of green growth. - Encourage and provide technical assistance to the people and communities to implement and enlarge production and consumption models which are economic, safe, civilized, respectful of the character of ethnic groups, harmonious and nature friendly. - Promote and support communities to develop models of eco-city, green rural areas, green housing, sorting wastes at source through the approach reduce- reuse-recycle (3R), and improve energy efficiency.
2. Improving effectiveness and efficiency of energy use, reduce energy consumption in production activities, transportation and trade - Innovate technologies, applying advanced management and operation procedures for efficient and effective use of energy in production, transmission and consumption, in particular in large production facilities where energy consumption is high. - Establish and publically announce standards on fuel consumption norms, roadmap to remove obsolete and energy consuming technologies in energy production and consumption systems. - Develop a legal basis to prepare for the application of technologies to capture, restore and trade various types of greenhouse gases. 3. Changing the fuel structure in industry and transportation - Assure national energy security by developing simultaneously different energy sources, exploit and use economically domestic energy sources, reduce reliance on petroleum products, gradually decrease the volume of coal export and import an appropriate amount, while creating linkages with energy systems in neighbouring countries. - Change the energy structure in the way that the share of energy which originates from fossil fuel is gradually decreased, and encourage the exploitation and use of new, renewable and low greenhouse gas emission energy sources. - In the transport sector, encourage buses and taxis shift to the use of compressed and liquefied petroleum gas (LPG). Implement a quality management system which is based on fuel, gas emission standards and vehicle maintenance. - Apply market instruments to promote changes in the energy structure and increase energy efficiency, encourage the use of clean energy, support the development of renewable energy, build a roadmap to phase out subsidies for fossil fuels, and assure principles of competitiveness, transparency and efficiency. - Labelling energy saving equipments, issuing national standards for the quality of equipment. 4. Promote effective exploitation and increase the proportion of new and renewable energy sources in the nation’s energy production and consumption. - Establish and implement financial and technical policies to promote research and application of appropriate advanced technologies to exploit and optimize the potentials of renewable energy sources both on-grid as well as off grid. - Develop a renewable energy technology market which stimulates domestic industries to commence the production of renewable energy equipment and provide related services in the country
5. Reduce greenhouse gas emissions through the development of sustainable organic agriculture, improved competitiveness of agricultural production - Study the adjustment of master plans, shift animal husbandry and crop production structures, crop planting seasons, livestock, forestry, aquaculture, irrigation and non-farming activities in rural areas. - Research and apply production processes and economic technologies that efficiently use seedlings, feed, agricultural materials, soil, water etc., and reduce greenhouse gas emissions from agricultural production. - Replicate widely technologies that treat and reuse by-products and waste from agriculture production to produce animal feed, mushrooms, materials for industries, biogas and organic fertilizer while reducing greenhouse gas emissions. - Speed up progress of aforestration and reforestation projects, encourage enterprises to invest in production forests to increase forest coverage to 45% by 2020, improve forest quality, enhance carbon sequestration capacity by forests and increase standing biomass and secure timber production and consumption. - Implement programs to reduce greenhouse gas emissions through efforts in Reducing Emissions from Deforestation and Forest Degradation (REDD), sustainable forest management in combination with diversifying livelihoods of rural people. 6. Review and adjust master plans for the production sectors and gradually limit the development of economic sectors that generate large amount of waste, significant environmental pollution and degradation of natural resources, while creating favourable conditions for the development of new green production sectors - Review the master plans for all economic sectors, especially those having the most significant impacts on natural resources and environment and lead to inefficient use of capital and natural resources, to define requirements for greening production, economic use of natural resources, controlling pollution and managing waste effectively through existing and new sectoral master plans. - Economic sectors should develop and implement action plans based on the green growth direction, with special attention to apply green technologies, best-practice-based management and monitoring systems to make economic use of natural resources, reduce greenhouse gas emissions and reduce pollution, to improve the ecological environment.
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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....
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