Posted by cwc1981 > 2022-05-14 06:26 | Report Abuse

Great

Posted by JKing > 2022-05-17 16:23 | Report Abuse

Fpi has another new customer. Denon

Posted by EeRickLee0714 > 2022-05-17 18:26 | Report Abuse

seems legit

Posted by EeRickLee0714 > 2022-05-17 18:26 | Report Abuse

DY is good

Posted by cwc1981 > 2022-05-18 17:17 | Report Abuse

see 1st Quarter result earning good or not

Posted by Sardin > 2022-05-19 11:12 | Report Abuse

@JKing, may I know how did you get the magic number RM 25-30 million net profit for 2022 Q1?

Posted by goldeneye > 2022-05-20 16:28 | Report Abuse

Expecting good result coming soon.

Posted by Sardin > 2022-05-20 18:14 | Report Abuse

Hope there is EPS 11 sen per share

Posted by YoongGer > 2022-05-25 10:35 | Report Abuse

QR coming !

Posted by Sardin > 2022-05-25 17:47 | Report Abuse

Crossing my fingers

Posted by Sardin > 2022-05-26 12:04 | Report Abuse

Let's guess the EPS for 2022 Q1. Starts from me. 9.9 sen or better.

Posted by cwc1981 > 2022-05-26 12:26 | Report Abuse

10.5 cents. Hahhaha

Posted by YoongGer > 2022-05-26 15:27 | Report Abuse

Margin of Safety

“Confronted with a like challenge to distill the secret of sound investment into three words, we venture the motto, MARGIN OF SAFETY.”

The most critical element in calculating the intrinsic value of a company is the future growth. We will look at it from 2 different angles:

Posted by YoongGer > 2022-05-26 15:27 | Report Abuse

As shown earlier the CAGR for revenue, EPS, and dividend payout ranges from 16% to 61%.
Future CAGR projection for smart speakers from analyst varies from 16%-19%. "The global blue-tooth speaker market reached a value of US$ 10.1 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 30.4 Billion by 2027, exhibiting a CAGR of 19.1% during 2022-2027."

https://klse.i3investor.com/web/blog/detail/Stockwinners/2021-07-27-story-h1568816870-IMPORTANT_KANGER_HAD_EXPLOSIVE_EARNINGS_MOVING_FORWARD

Based on the above, we will be conservative and project FPI EPS CAGR to be 16%. Our minimum expected rate of return per year is 10% and future PE is assumed to be 12. Current EPS is RM0.39. We are not excluding any exceptional gain or expense from the earning. Also, we will not deduct the net cash from market capitalization. These items approximately cancel out each other.

Using projected EPS CAGR of 16%, the earning in 10 years will be RM1.72. Multiplying this with the future PE ratio, the future stock price is expected to be RM20.65. We discount this price by 10% per year and bring it back to today. The intrinsic value of FPI based on conservative valuation is RM7.96.

This gives us a very significant margin of safety today (April,’22)

Posted by Sardin > 2022-05-26 17:34 | Report Abuse

Hi YoongGer, that's built on one assumption where FPI is able to retain good customers and high margin works.

Posted by Sardin > 2022-05-26 17:36 | Report Abuse

Looks like the report will only come out by tomorrow.

Posted by Thirai Thiraviam > 2022-05-27 10:50 | Report Abuse

Ah, I missed the first part of the AGM.

Posted by Sardin > 2022-05-27 10:55 | Report Abuse

Not much "useful" information in the first part of AGM. The screen also turns blurr sometime. The video quality is not so good.

Posted by JKing > 2022-05-27 15:01 | Report Abuse

Key take away from AGM
1) vertical integration is working well and continue discuss with Wistron on potential new vertical integration since Wistron is expanding in Malaysia.
2) 20 acres of land next to wistron, discussion is ongoing with customer
3) some impact on labour cost but employee headcount reduce by 200 as compare to Dec 2021 so I assume some offset
4) there is mechanism on adjusting pricing with customer for inflation cost on material

Posted by Moolala > 2022-05-27 15:05 | Report Abuse

Thanks for the info JKing

Posted by cwc1981 > 2022-05-27 18:24 | Report Abuse

8.31 cents slighy higher than previous year Q1

Posted by ghochu > 2022-05-27 21:24 | Report Abuse

Jking : Numbers look very disappointing at 21 mn versus your expectation of 25-30 mn. Clearly GPM got affected - did they comment on GPM and ASP in AGM? Can they raise prices?

Posted by investortrader88 > 2022-05-27 22:25 | Report Abuse

https://www.theedgemarkets.com/article/formosa-prosonic-starts-year-marginally-better-despite-21-higher-revenue

Posted by investortrader88 > 2022-05-27 22:26 | Report Abuse

I bought this counter at RM2.72 last year.will continue to hold.good luck guys

Posted by JKing > 2022-05-27 23:39 | Report Abuse

Business still growing as revenue improve. Margin is affected on high raw material and labour. In AGM they do mention they have the mechanism to adjust price in the contract but I think there is some time gap before new ASP take effective against material price increase.

Posted by cwc1981 > 2022-05-28 16:02 | Report Abuse

Nett cash position very good. Paid almost 50 million for last FY dividend. Cash still at 263 million.

Posted by Sardin > 2022-05-28 16:17 | Report Abuse

To be conservative, assume EPS and dividend in 2022 to be the same as 2021.

Posted by cwc1981 > 2022-05-28 16:42 | Report Abuse

Trade receivable also increase by 50 million

Posted by ghochu > 2022-05-31 11:08 | Report Abuse

Usually they publish notes of their AGM. I have not seen any this time. Has anybody seen or written notes of AGM

Posted by goldeneye > 2022-05-31 16:17 | Report Abuse

Still undervalued stock. Should stay above RM5

Posted by investortrader88 > 2022-06-16 16:35 | Report Abuse

Msnaged to top up at RM2.85.good luck guys

Posted by HF Isaac > 2022-06-20 11:05 | Report Abuse

This counter is just getting worse day by day. Stretching our patience to the limit. Is the business doing well? Hopefully some kind souls can update us? Tqvm

Posted by amateurJR > 2022-06-20 12:01 | Report Abuse

Ok buy little to play play

Posted by Sardin > 2022-06-20 12:31 | Report Abuse

There's more small shareholders in this stock. So price is more volatile. According to TA downside risk is high so it encourages TA investors to sell. Fundamental wise I guess in coming one year profit will stay stagnant because of interest rate hike and inflation which will erode the purchasing power of consumers. This will somewhat cancel off the bullish outlook of smart audio and musical instrument demand. To be Conservative, expecting annual EPS 35 sen and dividend 20 sen.

Posted by HF Isaac > 2022-06-20 12:45 | Report Abuse

Thanks sardin. Even with dividend yield of 7 per cent upside can't attract enough fundamental investor.

Posted by Sardin > 2022-06-20 14:58 | Report Abuse

I anticipate the attraction will turn strong when the price touches RM 2.50 (dividend yield 8%). I believe Q2 result will remain strong and so it gives very strong support at RM 2.50 from now to end of August. By end of August the price movement will be again driven by Q2 result and US economic outlook. So I think reward is higher than risk at prices below RM 2.50.

Posted by Sardin > 2022-06-20 15:02 | Report Abuse

Some fund managers might be looking at these opportunities to buy a stake in FPI anytime from now.

Posted by Jokers2020 > 2022-06-26 19:41 | Report Abuse

at time of recession sound system,speaker tak laku

Posted by Sardin > 2022-06-27 22:26 | Report Abuse

At time of recession, middle class will reduce their expenditure for entertainment. But I think sound speaker is quite basic because the cheapest entertainment one can have in a modern day is to watch movie at home (especially for a family of 4 or 5) instead of going to cenema, or listening to radio instead of going to concert. For teenagers, it may be playing computer games instead of going out for vocation. None of this can be done in a decent way without a proper speaker or sound system. First they did it because they have the money but not the freedom to travel due to covid, now they are going to do it again because they don't have enough money for more expensive activities. Same thing for different reasons.

Posted by Sardin > 2022-06-27 22:33 | Report Abuse

And you know how much pop corn money you can save by watching movie at home throghout the year?

Posted by EeRickLee0714 > 2022-06-29 16:46 | Report Abuse

during pandemic endemic period, all sector will kena affect lahh thats for sure including sound system, public shows , concert, event lesser, needs of sound system sure kena impact

Posted by EeRickLee0714 > 2022-06-29 16:46 | Report Abuse

but overall FPI is good lahh steady business

Posted by sasword > 2022-08-01 16:45 |

Post removed.Why?

Posted by RTF3MIL > 2022-08-03 18:51 | Report Abuse

china sanction taiwan run before too late

Posted by JKing > 2022-08-15 18:08 | Report Abuse

FPI top 3 customer is Japan brand. Nothing to do with Taiwan .

Posted by goldeneye > 2022-08-18 17:46 | Report Abuse

Bravo. All time high result

Posted by theintinvestor > 2022-08-18 18:02 | Report Abuse

fuh

Posted by ghochu > 2022-08-18 20:45 | Report Abuse

lot of it is fx gain moe than 10 mn

Posted by JKing > 2022-08-18 20:56 | Report Abuse

If we look at first half comparison forex is only 3 cent eps extra. And this adjustment give the same earning as last year taking into consideration of high inflation and min wages. Conclusion is fpi is able to sustain the profitability even at high inflation and material environment. That mean they have achieve efficiency and better pricing to offset with raising cost. Revenue is also growing. All this is a good indication

Posted by troy88 > 2022-08-19 09:03 | Report Abuse

well done!