Posted by ray81 > 2015-01-30 14:15 | Report Abuse

Novice168. is not because Inari business not good, is malaysia market full of negative sentiments and very volatile..

Was surprise after my comments, i set a target price sell at 2.88 and went to lunch, and it really happens...Caught me by surprise...Some Angpow for CNY..:-)

Posted by erkongseng > 2015-01-30 14:52 | Report Abuse

技术与基本面都处于最好狀态,前途光明呀
http://www.klsescreener.com/detail.php?code=0166

Posted by JCLU JCLU > 2015-01-30 18:16 | Report Abuse

Hi guys. Why recently no longer able to check the details for the Structured Warrants?

Posted by erkongseng > 2015-01-30 20:48 | Report Abuse

转帖] 無懼馬幣弱勢及消費稅‧科技和膠手套攻出口成贏家
Author: Tan KW | Publish date: Fri, 30 Jan 11:51

2015-01-28 17:54

（吉隆坡28日訊）隨著馬幣不斷貶值和消費稅即將登場，不少國內企業將面對衝擊，分析員認為專注在出口的科技／半導體公司和膠手套公司，將是安全的避風港，可在馬幣和消費稅逆風下崛起成為贏家。

肯納格研究指出，由於馬幣疲軟和油價下跌，大馬經濟版圖面對更大挑戰，但是，這就如雙面刃，出口公司將從中受惠，尤其是科技／半導體和膠手套業者。

根據肯納格研究的敏感度分析，美元每波動1%，科技公司的2014-2015年淨利將受衝擊0.5%。同時，馬幣兌美元匯率每下跌1%，膠手套業者的淨利平均增加1至2%。

同時，出口商受消費稅的影響也最低，根據關稅局的指南，出口商無須征收消費稅。

肯納格研究是在昨日舉辦企業日，介紹馬幣疲軟和消費稅下的安全港，安排6家出口業者和約40位分析員及基金經理會面。這6家公司分別為賀特佳（HARTA，5168，主板工業產品組）、友力森（UNISEM，5005，主板科技組）、企文科技（K1，0111，創業板科技組）、益納利美昌（INARI，0166，主板科技組）、偉特機構（VITROX，0097，主板科技組）和星光資源（SKPRES，7155，主板工業產品組）。

全球半導體銷售穩健
在科技領域方面，肯納格相信該領域仍具韌性，全球半導體銷售繼續顯示穩健趨勢。
全球半導體銷售將在2015年持續動力，截至2014年11月，全球半導體銷售成長9.1%，是連續第19個月增長。

隨著一些股項的估值偏高，宜採用抄底的策略。通常第一季和第四季是半導體股季節性疲軟的季度（因庫存調整令訂單波動），因此一旦股價疲軟，將是趁低累積的良機，因為在第二和第三季盈利將反彈。

膠手套料來到反彈時刻
至於膠手套領域則預料來到反彈時刻，新產能自2015財政年第四季起逐步增加，將帶動盈利增長，同時有關需求下跌、供應過剩和價格戰的課題已被過度渲染。

肯納格研究表示，目前部份手套股的股價已接近過往的最高水平。

由於手套需求良好，刺激更多新產能擴充，盈利將在接下來季度恢復成長。同時，新產能擴充的速度比預期慢，應有助維持供需平衡，再加上馬幣和原料價格下跌，都令手套股前景受看好。

該行重申對科技和膠手套領域的“加碼”評級，在馬幣疲軟和消費稅推行之際，這兩個領域受投資界所看好。

其中友力森和益納利美昌從半導體上升周期中直接受惠，因它們策略性涉及自動化（佔友力森銷售的17%）以及通訊（友力森：30%和益納利美昌：45%）業務。

偉特機構作為視像檢視系統的領先業者，將從半導體封裝更為複雜和需要更多檢驗中受惠。

企文科技30%收入來自流動電話零件，最近贏得2千萬令吉的高端通訊零件訂單，2年複合盈利成長將達361%；以及星光資源最近收購Technic集團，錄得77至105%的盈利成長。

而在手套股之中，肯納格研究看好賀特佳的“高度自動化生產流程”模式，該公司表現超越群倫，擁有更高賺幅、產能穩健改善、成本下跌以及在高成長的丁腈領域具主導地位。




（星洲日報／財經‧報道：李勇堅）

Posted by patterntrader1168 > 2015-01-30 22:54 | Report Abuse

http://klse.i3investor.com/servlets/stk/warelated/0166wa.jsp

Posted by erkongseng > 2015-01-31 20:56 | Report Abuse

出口导向令吉贬值有利 买科技手套股避险
Published at 2015-01-31 11:33:00 by 南洋网

（吉隆坡30日讯）低油价、令吉疲软和消费税（GST）的来临，冲击整个国家经济，但科技和橡胶手套领域却因为“枪口对外”，反而从中受益，获分析员形容为应买入的“避险天堂”。

肯纳格投行研究在报告中指出，疲弱令吉和油价大跌，无疑是把双刃剑，让我国面临更大经济挑战的同时，出口导向领域却成为当中赢家，如科技、半导体和橡胶手套领域。

除了外围利好，本土的消费税（GST）上路，也因针对国内消费的体制，让这些以出口为主的领域逃过一劫，是影响最小的行业。

根据该行的敏感分析，美元每波动1%，所追踪的友尼森（UNISEM，5005，主板科技股）、益纳利美昌（INARI，0166，创业板）和企文科技（K1，0111，创业板），去年和今年的净利预估，将会跟着变动0.5%。

手套股方面，令吉兑美元每贬值1%，业者净利平均可提振1至2%。

分析员形容，科技和手套股是我国最受投资者欢迎的领域之一，特别是夹带着令吉走软和消费税的两大因素加持，建议投资者将目光转向拥有稳健盈利展望的科技企业。

手套产能扩张稳健

其中，全球半导体销售舒适增长中，通常首季和末季是季节疲弱季度，因调整库存而造成订单波动，但这反而显出趁低吸纳的良机，稳健的盈利增长展望，将激励次季和第三季的业绩抵消另两季的疲态。

手套领域也积极扩展商业产品产能，从今年末季开始逐渐到位，有助激励盈利增长，分析员认为，市场过度担忧供过于求和削价战。

“据观察，新产能拓展的速度较预期缓慢，可维持供需层面的平衡。新产能将逐步应付稳健的需求增长，加上原料价格维持低点，未来数季盈利表现可期。”

推荐股

伟特机构（VITROX，0097）
半导体产品越来越复杂， 需要更多检测系统， 而维特机构身为自动化视觉检测系统的领先解决方案供应商， 可从中受益。

友尼森、益纳利美昌
代工业者展望乐观，在智慧型手机、平板电脑和汽车领域中，所提供的产品占据策略地位。

企文科技
在电子制造服务市场中，定位为高档制造链的设计和发展企业。

贺特佳（HARTA，5168）
“高自动化生产程序”模式带来更好的赚幅，产能稳健改善，还可降低成本，让该公司大大超越竞争对手，成功抓住丁睛手套市场的主导地位。http://www.stockhut.com.my/news/14373

Posted by BURSAMASTER > 2015-02-02 01:11 | Report Abuse

Business NewsHome › Business › Business News
Semiconductor and rubber glove makers to gain from weak ringgit
Saturday, 31 January 2015
BY: SHARIDAN M. ALI, DAVID TAN







Kenanga Research believes that the semiconductor industry will stay resilient with the global sales continuing to show healthy momentum.
Kenanga Research believes that the semiconductor industry will stay resilient with the global sales continuing to show healthy momentum.

THE decline of the ringgit is generally viewed as a problem for the economy but there are always two sides to the story.

Exporters with high local ringgit-denominated content and strong external demand are the obvious winners as they are expected to benefit from the weakening ringgit.

The winners are said to be the semiconductor and technology, rubber gloves and timber-based sectors. The share prices of a number of those companies have already factored in the benefits to their business from the weaker ringgit after the currency started its decline,which was more pronounced since the beginning of the fourth quarter of last year.

On the semiconductor front, Kenanga Research says believes that industry will stay resilient with the global sales continuing to show healthy momentum. Bottom-fishing is recommended as a strategy especially with the current risk-reward ratio less favourable following rich valuations in some counters.

“Typically, first and last quarters of a calender year, the earnings for the semiconductor players are seasonally weaker.

“That said we see any price weakness in these stocks as opportunities to accumulate as the earnings shortfall could be made up by the seasonally stronger second and third quarters on the back of the resilient industry prospects,” it says in a recent report.

Screening through the semiconductor value chain, Kenanga Research sees Vitrox Corp Bhd, being the leading solution providers of automated vision inspection systems to continue benefiting from the increasing complexity of semiconductor packages, which requires enormous inspection.

The research house is sanguine over OSAT (outsourced chips assembly and testing) players such as Unisem (M) Bhd. Inari Amertron Bhd is among the research house’s top pick.

PIE industrial Bhd managing director Alvin Mui says the group would see its sales rising this first quarter.

“But this is due to the new box built products we are doing for the medical equipment segment.

“The weakened ringgit will of course boost our revenue and bottom line,” Mui says.

Meanwhile, Elsoft Research Bhd chief executive officer CE Tan says the weak ringgit has boosted orders for its LED test equipment for the first quarter of this year.

“We expect to perform by a strong double digit percentage growth over the same period last year,” he says.

Tan says the LED testers the group produces are niche products with competitive pricing.

Rubber gloves players have seen strong price appreciation since late last year. Maybank IB Research likes Kossan Rubber Industries Bhd due to its stronger earnings growth in financial years 2015 and 2016, underpinned by the full contributios of its latest three plants.

Meanhile, JF Apex Securities mentions Latitude Tree, Poh Huat and Heveaboard among the timber-based industry stocks that can benefit from strengthening US dollar against ringgit.

The US market is the biggest for the industry which will gain from cheaper ringgit-denominated local content and stronger US economic growth.

The losers from a weaker ringgit, JF Apex Securities Bhd senior analyst Lee Cherng Wee mentions, are automotive players which import a lot of parts especially for completely-knocked down vehicles.

Lee says counters such as Tan Chong Motors and UMW Holdings are likely to be affected.

RHB Research in a recent report says about 60% of Tan Chong’s manufacturing cost of sales is transacted in foreign currency (80% in US dollars) which RHB sees as a risk.

“Continued US dollar strength will crimp margins that will not be offset by a weaker Japanese yen,” it says.

Lee also predicts the consumer sector players with high imported content in dollar terms could risk slimmer margins coupled with sluggish consumer sentiment due to goods and services tax.

MIDF Investment Research analyst Kelvin Ong said he foresees banking groups with higher foreign shareholdings like CIMB Group Holdings Bhd, Alliance Financial Group Bhd, AMMB Holdings Bhd and Public Bank Bhd as banks that can be impacted by the weaker ringgit.

“Foreign shareholding may slip if the domestic currency continues to weaken. The Fed’s tightening of the interest rate turns out to be more aggressive than expected, and crude oil prices continue to be on a downward trend. This will impact valuations of banks, but on the flip side, it will present buying opportunities for investors on a more attractive valuation,’’ he says.

Posted by dextronium > 2015-02-02 13:01 | Report Abuse

tiekyu additional fee is stamp duty RM10. money order RM2 . registered mail RM3 . not service fee.


Thanks tiekyu for the guidance.

Posted by Forever > 2015-02-03 10:23 | Report Abuse

当大部人都上车的时候，就差不多是时候下车了。

Posted by Stockman > 2015-02-03 12:26 | Report Abuse

Time to buy

Posted by erkongseng > 2015-02-03 16:24 | Report Abuse

inari 0166 RM2.83 进入的原因--

1)公司是本区域顶尖的射频芯片测试公司，同时，拥有实力不俗的技术专才、成本效率，
及从其客户Avago给予的外包项目中受惠.
2)科技电子相关业务主要为出口类股，在美元汇率走强下，有望改善盈利，公司90%生意是以美元计算。
3）Inari营业额约40%来自avago的外包项目，因此订单会是稳定的。
4）智能手机，平板电脑的普及化与风行，已经贡献公司45%的销售，这行业未来几年还有成长的空间。
光纤业务是第二个增长引擎，槟岛新厂2014年底已开始运作就是铁证。
5）公司Q1（7,8,9月）赚3375万，在新生产线的加入下，Q2（10,11,12月），Q3（1,2,3,月），
Q4（4,5,6月）的业绩值得期待，净利有望再创新高。
6）买股看公司的未来是否成长，净利多少等，当可见度变得清晰，投资风险相对变小，
股价也将呈现上升势头，Inari会是不错的选择。
7）当看到2015年6月财政年，2016年6月财政年都可净利超过1亿，超过2亿净利，股价是不是也该成长。
8）从过年一年公司净利改善后，每季派息给股东，许多投行介绍此股，美国公司avago选择与Inari为商业伙伴等来看，
公司诚信度是很好的，因此数据造假应该不会发生在这公司上。
9）公司有健康的资产负债表，投资面对的风险小，可取得资本增值机会。
10）在计入附加股的股数后，个人估算下来，股价可去到RM3.74几率大，估计2015年6月，全年EPS=RM0.17，
PE=22，股价=RM3.74 （科技股如mpi,gtronic,vitrox的成交pe=24-26之间),
11）投行推荐的目标价，日期，我取全年eps=rm 0.17 算:
a)maybank--15/08/2014,19/08/2014,27/08/2014,20/11/2014,26/11/2014 ,rm4.20 , pe=24.7
b)kenanga--19/08/2014 ,rm3.92 ,pe=23
c)rhb-osk--5/08/2014,27/08/2014,23/10/2014,5/12/2014,rm=3.82 ,pe=22.4
20/1/2015 ,rm3.41 ,pe=20
d)hlg--15/8/2014,27/8/2014,4/9/2014,17/10/2014,26/11/2014 ,rm3.41 ,pe=20
18/11/2014 ,rm3.14 ,pe=18.4 (http://klse.i3investor.com/servlets/ptg/0166.jsp)
目前inari 的股价=rm2.87 ,用eps=rm0.17算,只是pe=16.8倍在交易,比较其他科技股后,明显被低估了.
只供参考，进出自负。

Posted by erkongseng > 2015-02-03 16:57 | Report Abuse

e)艾芬黄氏资本维持益纳利美昌的「买进」评级，目標价从3.80令吉调高至4.07令吉。(pe=23.9)

Posted by SP0094701 > 2015-02-04 17:17 | Report Abuse

Why today didnt go up ?????

Posted by chucknorris > 2015-02-04 18:08 | Report Abuse

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1868809

Posted by veln82k6 > 2015-02-04 18:57 | Report Abuse

Increase in profit mainly due to unrealised foreign exchange gain of RM6.2 million and realised gain of RM4 million.. So 10 million profit just in foreign exchange translation.

Posted by Novice168 > 2015-02-04 20:13 | Report Abuse

EPS per share is 12.61sens only, according to the report. Why you said is 0.17?

Posted by khuen > 2015-02-04 20:50 | Report Abuse

Dividend of 2.3 cent (1.8 + 0.5) has been declared.

Posted by cruger12345 > 2015-02-04 22:50 | Report Abuse

Read the financial report carefully . The foreign exchange gain already been deducted in profit before tax. So the profit is actually after deducting the foreign exchange gain

Posted by edkfc > 2015-02-05 00:57 | Report Abuse

As expected , Inari deliver another record breaking and excellent qtr of financial performance.
They are doing this for many qtrs now , kudos to a magnificent management team. Bottom line net profit is getting closer to 18% !!! EPS for the qtr is 6.59c . Simple annualization gives EPS of 26.4c.
Based on various analyst forecasted net profit of 140m to 150m for FY2015 implies EPS of about 23c . Assuming a reasonable PE of 18, Inari should be worth between RM4;20 to RM4;80.

(the rights issues will have a dilution of 10% plus and this can be more than offset be the new
capacity coming on stream from Qtr4 onwards. )

Posted by samer > 2015-02-05 09:15 | Report Abuse

edkfc, just bought at RM 2.91, what's the expected TP before CNY?

Posted by Eazy Win > 2015-02-05 11:30 | Report Abuse

if I have 10000 unit, how much I can get from dividend 2.3 cents. Pls advise.

Posted by Eazy Win > 2015-02-05 11:31 | Report Abuse

what is the condition that I can earn thi dividend ? Is it I buy Inari share before 5/2/15 ?

Posted by bwulf > 2015-02-05 11:35 | Report Abuse

buy before ex-date

Posted by Eazy Win > 2015-02-05 11:36 | Report Abuse

@bwulf, when is ex-date

Posted by voonyoke > 2015-02-05 11:48 | Report Abuse

ex-date 16/2/2015.

Posted by Eazy Win > 2015-02-05 12:07 | Report Abuse

@voonyoke, Thanks. How much dividend I can earn if I buy 10000 units ?

Posted by isaac225 > 2015-02-05 12:08 | Report Abuse

thinking whether to let go today or hold..

Posted by Benjamin81 > 2015-02-05 12:08 | Report Abuse

Hi all inarians. I'm new here. Got to know there will be bonus warrants for warrants holders. But, when will we get the bonus warrants? It's not reflected yet in my account (62:1000)..

Posted by Novice168 > 2015-02-05 12:16 | Report Abuse

What is the warrant price? worth buying?

Posted by voonyoke > 2015-02-05 12:17 | Report Abuse

Eazy Win, 230

Posted by choopeng > 2015-02-05 13:23 | Report Abuse

Did inari break 3.00 today ?

Posted by Eazy Win > 2015-02-05 14:10 | Report Abuse

Thanks Voonyoke

Posted by angku > 2015-02-05 14:56 | Report Abuse

benjamin81, ask your remisier. My remisier handles everything for me.

Posted by Lean Seng > 2015-02-05 16:23 | Report Abuse

KUALA LUMPUR (Feb 5): Unisem (M) Bhd ( Financial Dashboard) rose as much as 5% on reports 2014 world semiconductor sales rose 10% to a record high from a year earlier. The better numbers have reaffirmed analysts' positive outlook on the sector.

Unisem (fundamental:0.4; valuation: 0.6) rose as much as 10 sen to RM2.13 before reducing gains. At 3:16pm, the stock changed hands RM2.10 with some five million shares done.

Rival semiconductor producer Malaysian Pacific Industries Bhd (MPI) ( Financial Dashboard) rose as much as seven sen or 1% to RM5.76 before trading at RM5.74 at 3:18pm. MPI (fundamental:1.8; valuation:2.4) saw 154,400 shares traded.

MIDF Amanah Investment Bank Bhd, quoting the US-based Semiconductor Industry Association (SIA), reported that global semiconductor sales in December 2014 amounted to US$29.1 billion (RM104 billion ), an increase of 9.3% from US$26.6 billion a year earlier.

Full-year sales rose 9.9% to US$335.8 billion from US$305.6 billion a year earlier, according to SIA.

MIDF said SIA continued to post optimistic sales figures, and that this level of optimism was expected to continue into 2015 and 2016.

“Double digit growth in sales was recorded for the Americas and Asia Pacific regions at 12.7% year on year(yoy) and 11.4%yoy respectively, while sales from the European region grew by 7.4% yoy. The positive growth will be mainly supported by higher demand from the smartphones and automotive industries.

"In the foreseeable term, the adoption of smartphones remains one of the key driving catalysts for the sector. The transition from 2G to 3G and 4G will inevitably create stronger demand for low to mid-priced smartphones, especially in emerging markets," MIDF said.

Posted by Lean Seng > 2015-02-05 16:24 | Report Abuse

global semicond sales uptrend!

Posted by Lean Seng > 2015-02-05 16:26 | Report Abuse

Inari, GO...

Posted by Lean Seng > 2015-02-05 21:28 | Report Abuse

（吉隆坡5日訊）益納利美昌（INARI，0166，主要板科技）估值仍具吸引力，加上業績表現亮眼，獲券商調高目標價，可提供36%揚升空間；利好激勵股價金一度揚10仙至2.96令吉，為十大上升股。

　該股起5仙以2.91令吉開盤，在開盤1小時內漲10仙或3.5%至2.96令吉，並以2.96令吉掛休；半日成交量433萬2700股。

　該股午盤稍微收窄漲幅，閉市報2.94令吉，起8仙，成交量744萬7200股。

　股價方面，儘管益納利美昌逼近多年新高水平，但艾芬黃氏資本研究認為，該股有望提供36%上漲空間，仍具吸引力。

業績超越預測

　雖然估值吸引，但隨著該公司近期進行8配1附加股帶來的稀釋效應，將2015至2017財年的每股盈利預測下修12%。

　馬銀行投銀指出，益納利美昌業績超越預測，分別佔該投銀和市場全年預測的50%和53%，看好該公司可在美元走強及擴充計劃這兩項短期催化劑下加速成長。

　該公司將在本財年第3季投入運作的新廠房，因為無線電頻率（Radio Frequency）業務，額外新增80台至90台測試處理器，具備龐大潛能。

　馬銀行投銀因而維持“買進”評級，目標價格為3.70令吉。

　考量估值吸引，及作為無線電頻率市場迅速成長中的主要受惠業者，艾芬黃氏資本研究亦維持“買進”投資評級，目標價格從3.62令吉，上調至3.89令吉。 http://www.chinapress.com.my/node/597522

Posted by YiStock > 2015-02-06 09:00 | Report Abuse

Based on 2Q FY 15 result, due to huge amount of net cash from both operation (RM 88,325,000) and gross cash from warrant conversion (RM39,631,000); Total RM128 million cash;

=>Tremendous Improve of Financial leverage

Debt to Equity (from 0.92 to 0.65)

Current Ratio (from 2.07 to 2.44)

Cash (from RM 75 million to RM 142 million)

Posted by YiStock > 2015-02-06 09:03 | Report Abuse

I must give a big thumb up to the management team of INARI Amertron. Good Job!

Posted by samer > 2015-02-06 09:18 | Report Abuse

Inari coming coming !!

Posted by edkfc > 2015-02-06 09:34 | Report Abuse

The Debt to Equity is more like 0.17 ! Total borrowing at slightly below 60m and equity at 353m.
Inari financial in terms of profitability, cash-flow and balance sheet is very healthy. With the latest rights w warrant exercise, it gets even better !

Posted by Rehan > 2015-02-06 10:56 | Report Abuse

Are we eligible to get dividend on the rights also? when does the right shares some in to our account?

Posted by voonyoke > 2015-02-06 11:02 | Report Abuse

No. The rights will be in your account on 26th Feb 2015.

Posted by isaac225 > 2015-02-06 13:12 | Report Abuse

inari should able to test at 3.0 today..

Posted by bert > 2015-02-06 13:54 | Report Abuse

long time no see 3.0

Posted by flower > 2015-02-06 14:57 | Report Abuse

Need to seek advice is the rights issue good to take up.

Posted by kcwong98 > 2015-02-06 15:13 | Report Abuse

research.maybank-ib.com/pdf/documentrg/Inari_CU060215_6576.pdf Today TP 3.95

Posted by alivetoinvest > 2015-02-06 18:05 | Report Abuse

buy unisem better

Posted by newbie888 > 2015-02-06 22:39 | Report Abuse

Wanna ask for advice is right time buy this share or not?

Posted by Kai Chun > 2015-02-07 19:16 | Report Abuse

Right time. Going to fly. Signal is here.