PSAHAAN SADUR TIMAH MSIA

KLSE (MYR): PERSTIM (5436)

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Last Price

2.20

Today's Change

+0.06 (2.80%)

Day's Change

2.15 - 2.20

Trading Volume

32,300

Financial

Show?
Last 10 FY Result
AQR T4Q 31/03/24 31/03/23 31/03/22 31/03/21 31/03/20 31/03/19 31/03/18 31/03/17 31/03/16 31/03/15 CAGR
Revenue 952,934 934,715 916,596 1,461,016 1,342,914 831,964 859,373 978,191 938,866 840,793 743,385 656,927 3.76%
PBT -27,726 -34,530 -27,645 61,411 61,373 68,719 41,145 53,633 29,967 71,394 64,232 57,186 -
Tax -3,580 -9,308 -10,123 -22,571 -14,734 -15,389 -10,243 -12,611 -7,339 -16,253 -13,299 -14,573 -3.96%
NP -31,306 -43,838 -37,768 38,840 46,639 53,330 30,902 41,022 22,628 55,141 50,933 42,613 -
-
NP to SH -31,306 -43,838 -37,768 38,840 46,639 53,330 30,902 41,022 22,628 55,141 50,933 42,613 -
-
Tax Rate - - - 36.75% 24.01% 22.39% 24.89% 23.51% 24.49% 22.77% 20.70% 25.48% -
Total Cost 984,240 978,553 954,364 1,422,176 1,296,275 778,634 828,471 937,169 916,238 785,652 692,452 614,314 5.01%
-
Net Worth 435,053 435,053 522,839 542,203 506,056 502,183 402,184 395,232 380,337 397,218 367,427 351,538 4.50%
Dividend
AQR T4Q 31/03/24 31/03/23 31/03/22 31/03/21 31/03/20 31/03/19 31/03/18 31/03/17 31/03/16 31/03/15 CAGR
Div - - - 12,909 - - 9,930 9,930 29,791 39,721 37,735 34,756 -
Div Payout % - - - 33.24% - - 32.14% 24.21% 131.66% 72.04% 74.09% 81.56% -
Equity
AQR T4Q 31/03/24 31/03/23 31/03/22 31/03/21 31/03/20 31/03/19 31/03/18 31/03/17 31/03/16 31/03/15 CAGR
Net Worth 435,053 435,053 522,839 542,203 506,056 502,183 402,184 395,232 380,337 397,218 367,427 351,538 4.50%
NOSH 129,096 129,096 129,096 129,096 129,096 129,096 99,304 99,304 99,304 99,304 99,304 99,304 2.95%
Ratio Analysis
AQR T4Q 31/03/24 31/03/23 31/03/22 31/03/21 31/03/20 31/03/19 31/03/18 31/03/17 31/03/16 31/03/15 CAGR
NP Margin -3.29% -4.69% -4.12% 2.66% 3.47% 6.41% 3.60% 4.19% 2.41% 6.56% 6.85% 6.49% -
ROE -7.20% -10.08% -7.22% 7.16% 9.22% 10.62% 7.68% 10.38% 5.95% 13.88% 13.86% 12.12% -
Per Share
AQR T4Q 31/03/24 31/03/23 31/03/22 31/03/21 31/03/20 31/03/19 31/03/18 31/03/17 31/03/16 31/03/15 CAGR
RPS 738.16 724.05 710.01 1,131.73 1,040.24 644.45 865.39 985.04 945.44 846.68 748.59 661.53 0.78%
EPS -24.26 -33.96 -29.26 30.09 36.13 41.31 31.12 41.31 22.79 55.53 51.29 42.91 -
DPS 0.00 0.00 0.00 10.00 0.00 0.00 10.00 10.00 30.00 40.00 38.00 35.00 -
NAPS 3.37 3.37 4.05 4.20 3.92 3.89 4.05 3.98 3.83 4.00 3.70 3.54 1.50%
Adjusted Per Share Value based on latest NOSH - 129,096
AQR T4Q 31/03/24 31/03/23 31/03/22 31/03/21 31/03/20 31/03/19 31/03/18 31/03/17 31/03/16 31/03/15 CAGR
RPS 738.16 724.05 710.01 1,131.73 1,040.24 644.45 665.68 757.72 727.26 651.29 575.84 508.87 3.76%
EPS -24.26 -33.96 -29.26 30.09 36.13 41.31 23.94 31.78 17.53 42.71 39.45 33.01 -
DPS 0.00 0.00 0.00 10.00 0.00 0.00 7.69 7.69 23.08 30.77 29.23 26.92 -
NAPS 3.37 3.37 4.05 4.20 3.92 3.89 3.1154 3.0615 2.9462 3.0769 2.8462 2.7231 4.50%
Price Multiplier on Financial Quarter End Date
AQR T4Q 31/03/24 31/03/23 31/03/22 31/03/21 31/03/20 31/03/19 31/03/18 31/03/17 31/03/16 31/03/15 CAGR
Date 30/09/24 30/09/24 29/03/24 31/03/23 31/03/22 31/03/21 31/03/20 29/03/19 30/03/18 31/03/17 31/03/16 31/03/15 -
Price 2.55 2.55 2.88 4.57 4.00 4.04 3.18 4.91 3.53 7.55 5.66 4.29 -
P/RPS 0.35 0.35 0.41 0.40 0.38 0.63 0.37 0.50 0.37 0.89 0.76 0.65 -4.98%
P/EPS -10.52 -7.51 -9.84 15.19 11.07 9.78 10.22 11.89 15.49 13.60 11.04 10.00 -
EY -9.51 -13.32 -10.16 6.58 9.03 10.23 9.79 8.41 6.46 7.35 9.06 10.00 -
DY 0.00 0.00 0.00 2.19 0.00 0.00 3.14 2.04 8.50 5.30 6.71 8.16 -
P/NAPS 0.76 0.76 0.71 1.09 1.02 1.04 0.79 1.23 0.92 1.89 1.53 1.21 -5.74%
Price Multiplier on Announcement Date
AQR T4Q 31/03/24 31/03/23 31/03/22 31/03/21 31/03/20 31/03/19 31/03/18 31/03/17 31/03/16 31/03/15 CAGR
Date 12/11/24 12/11/24 06/06/24 31/05/23 31/05/22 25/05/21 23/06/20 29/05/19 31/05/18 30/05/17 30/05/16 28/05/15 -
Price 2.36 2.36 2.70 4.37 3.81 4.27 4.25 4.91 3.80 7.45 5.90 4.25 -
P/RPS 0.32 0.33 0.38 0.39 0.37 0.66 0.49 0.50 0.40 0.88 0.79 0.64 -5.62%
P/EPS -9.73 -6.95 -9.23 14.52 10.55 10.34 13.66 11.89 16.68 13.42 11.50 9.90 -
EY -10.28 -14.39 -10.84 6.88 9.48 9.67 7.32 8.41 6.00 7.45 8.69 10.10 -
DY 0.00 0.00 0.00 2.29 0.00 0.00 2.35 2.04 7.89 5.37 6.44 8.24 -
P/NAPS 0.70 0.70 0.67 1.04 0.97 1.10 1.05 1.23 0.99 1.86 1.59 1.20 -6.26%

PBT = Profit before Tax, NP = Net Profit, NP to SH = Net Profit Attributable to Shareholder, Div = Dividend, NP Margin = Net Profit Margin, ROE = Return on Equity, NOSH = Number of Shares, RPS = Revenue per Share, EPS = Earning Per Share, DPS = Dividend Per Share, NAPS = Net Asset Per Share, EOQ = End of Quarter, ANN = Announcement, P/RPS = Price/Revenue per Share, P/EPS = Price/Earning per Share, P/NAPS = Price/Net Asset per Share, EY = Earning Yield, DY = Dividend Yield.

NOSH is estimated based on the NP to SH and EPS. Div is an estimated figure based on the DPS and NOSH. Net Worth is an estimated figure based on the NAPS and NOSH.

Div Payout %, NP Margin, ROE, DY, QoQ ⃤ & YoY ⃤ figures in Percentage; RPS, EPS & DPS's figures in Cent; and NAPS's figures in Dollar.

All figures in '000 unless specified.

Discussions
6 people like this. Showing 50 of 732 comments

lionel messi

Thanks stockraider. Totally agree with you. This is a high growth and high dividend stock waiting to be discovered and explode. When their Philippines plant start to contribute in a big way very soon, earnings growth is going to be exponential. But it is so small cap and the sellers are so far and few in between. Cheers.

2021-08-29 16:41

Richard Lee

20cents DIV not bad.

2021-09-21 13:05

Sebastian Power

Slightly disappointed with the QR yesterday. With higher REV but lower profit? What to do? this is the nature of business

Good potential with the demand of tin. Good chance to add more today. 20c DIV (assume RM4 purchased price translate to 5% interest liao)

2021-09-22 09:30

kong73

New PERSTIMA tinning line in the Philippines expected to be operational by Q4-2021
Jan 20, 2021
Tenova reports that it has been contracted for a 200,000 tonnes/year new high-speed electrolytic tinning line with insoluble anodes by Perusahaan Sadur Timah Malaysia (PERSTIMA) Berhad, premier producer and supplier of high quality tinplate in South East Asia. This cutting-edge technology will be implemented in PERSTIMA’s plant in Batangas (Philippines). The electrolytic line is expected to be put into operation by Q4-2021.
The electrolytic combined tin-plating and tin-free steel line will work at 550 meters/minute at entry/exit and 420 at the process section, for annual production of 200,000 tons. The steel strip will be 550-1000 mm wide and 0.10-0.60 mm thick, and the line will process all the main grades of steel for a product mix which will satisfy the most recent demand of the high-quality market. A minimum tin coating thickness of 1.1 g/m2 is guaranteed.
The line is equipped with a dedicated section (cells and recirculation equipment) for the production of tin free steel process as well. Tenova will provide the state-of-the art automation with an enhanced Web-Based Level 2 and Roll Management Software to automatically schedule roll activities in the processing line.
“Tenova insoluble anodes technology will permit an easier handling of the process section with highest safety for the operators. Tenova developed an advanced system for the tin-dissolution reactors, achieving very low tin losses in the sludges. This represents a very positive aspect both for economic and environmental reasons”, affirmed Giuseppe Zanzi, Tenova Italimpianti & Strip Processing Sales Manager SEA & India.
“This new project will allow our customer to address the request of higher quality tinplate and TFS in the region, confirming our position in high-standards tin-plating market, after previous important contracts in Spain and in China, among the others”, affirmed Stefano Marelli, Tenova Global Sales Manager South East Asia.
Finally, a further improvement in the quality of the tin-plate has been achieved through the development of special edge-masks. These devices prevent the “white edge defects” due to tin overcoating at the edges while processing strips with different widths. In addition, Tenova edge-mask design guarantees easy inspection and access to the cell. Tenova Insoluble Anode Technology with IGBT Rectifiers globally permits a large operating saving in tin and electrical consumption, guaranteeing the top of quality.

2021-10-06 00:39

kong73

2022 will be a good year with revenue from Philipine market realised

2021-10-06 08:30

Richard Lee

last day for 20cents DIV. Next year DIV confirm 50-100% more after Philippine in operation

2021-10-06 09:29

kong73

Perstima is solid as a bull

2021-10-06 12:34

Sebastian Power

after exDIV macam sudah puncit

2021-10-07 15:20

lionel messi

Normal behavior of such small cap illiquid counter. No more excitement after div. Furthermore with poor recent quarterly result. Unless next qtr result is going to be good. Then some excitement with insiders slowly and quietly buying.

2021-10-08 12:01

stockraider

Potential more than 20 sen dividend for this share loh!

2021-10-08 13:26

Diamond7

TIN prices were at $21,000 in Jan 2021.
It is now at $37,500 now.
The uptrending looks so strong.

2021-10-24 20:57

lionel messi

Diamond7, is this considered good or bad news for Perstima? Cheers.

2021-10-25 12:19

Richard Lee

time to wake up! All my other stock up for a month only this drop for a month

2021-10-25 14:14

PassionateInvestor

@lionel messi, according to an article by thedegemarkets a few years ago, it'll negatively impact Perstima profits.
https://www.theedgemarkets.com/article/boon-and-bane-rising-tin-prices

2021-10-25 18:45

Sebastian Power

if tin price up then Perstima also can increased selling price lo. Important the order book need soar when the Philippine market in full capacity

2021-10-25 19:29

lionel messi

Thank you Passionate and Sebastian. Great info.

2021-10-26 12:15

Richard Lee

up or down determined by operator. We ikan bilis only need to have some luck. Hahahaha!!!

2021-10-26 15:18

Sebastian Power

Not looking good because Everyday people waiting to sell only.

too bad I dont have extra bullet to buy again now. Waiting for dividend to bank in then can buy a bit more

2021-10-27 14:46

RainT

this one can buy ? being main reasons is Philippines expansion ??

2021-11-08 16:04

Richard Lee

need to be prepared if you want to beli because this useless counter only up one day then drop one month. Hahahah!

2021-11-09 14:39

lionel messi

wow, volume was unusually high yesterday with sharp rise in price. good results and div coming?

2021-12-17 11:23

danchong

volume coming. Hope for good QR & dividend

2022-02-11 13:51

lionel messi

Insider trading?

2022-02-11 16:16

Diamond7

Up up...
Good fundamentals
Coming quarterly report will be excellent

2022-02-11 16:34

kimchuant8

No dividend this year. Philippines factory start production. Expected break even in 3 years.

2022-08-25 22:15

idunwork

Very good qr

2022-08-30 18:53

UnicornP

TO-Price must go 4.30-4.4

2022-08-30 23:45

nextan

5.00 coming soon

2022-08-31 09:16

idunwork

Up 18% already but still very few sellers

2022-09-05 22:12

moneymoneycom

https://www.youtube.com/watch?v=7owmL2sT7zE&t=38s

2022-09-06 17:02

nextan

Bonus is coming

2022-09-06 19:53

UnicornP

Wait one or two lots

2022-09-14 16:39

UnicornP

To add if $4.

2022-10-01 12:26

UnicornP

https://www.businesswire.com/news/home/20220906005559/en/Global-Tinplate-Market-Report-2022-2026-Increasing-Launch-of-New-Food-and-Beverage-Products-in-Metal-Cans-and-Sustainability-With-Metal-Packaging-Driving-Sector---ResearchAndMarkets.com

2022-10-12 21:13

Believe3222

cantik QR 3.5 coming

2022-11-09 20:11

kimchuant8

Dividend 10sen. Malaysia and Vietnam doing well. Philippines production started, but loosing money.

2022-11-09 22:20

UnicornP

Not interested to sell.

2022-11-10 20:48

jackjason

The Japanese hold more then 2/3 of total share. No easy push the price by minor shareholder. No fund manager hold this share

2022-11-11 01:57

UnicornP

Should not be below 4.06.

2022-11-30 13:14

Believe3222

masuk longkang

2023-05-31 19:33

kimchuant8

Bad quarter. Malaysia and Vietnam revenue drop a lot . Philippines still loosing money. Overall loosing money!

2023-08-17 16:11

speakup

why MSC up so much but Perstim down? both same biz isn't it?

2023-08-18 07:51

Up_down

Good news to Perstima for Malaysia operation.

https://www.mida.gov.my/latest-policy-for-application-on-import-duty-exemptionfor-iron-and-steel-for-the-domestic-market/

2024-04-12 14:46

Believe3222

below 2 only can enter

2024-06-07 20:16

BenjaminSS14


"Believe3222

below 2 only can enter"

WHy ah?

2024-07-18 17:14

greenshoot

Miti starts anti-dumping investigation into tin products imports from four countries

https://theedgemalaysia.com/node/722851

2024-08-15 16:22

Up_down

Malaysia would launch anti-dumping duty against dumpers in 2025. Philippines is another serious bleeding operation without ptotection of anti-dumping.

2024-08-18 14:59

greenshoot

Perstima Vietnam is considering to file anti-dumping petitions to initiate investigations.

1 month ago

greenshoot

INITIATION OF AN ANTI-DUMPING DUTY INVESTIGATION CONCERNING IMPORTS OF FLAT-ROLLED PRODUCTS OF IRON OR NON-ALLOY STEEL, OF A WIDTH OF 600MM OR MORE, CLAD, PLATED OR COATED WITH TIN (ELECTROLYTIC TINPLATE OR TINPLATE) ORIGINATING OR EXPORTED FROM THE PEOPLE’S REPUBLIC OF CHINA, THE REPUBLIC OF INDIA, JAPAN AND THE REPUBLIC OF KOREA

https://www.miti.gov.my/miti/resources/Media%20Release/(15_AUG_2024)_ANTI_DUMPING_TNPLATE_(ENG).pdf

2 weeks ago

greenshoot

At present, the primary burden mainly stems from the Philippine operations since its inception in August 2022, further exacerbated by the tinplate dumping in the Malaysian market by foreign nations like India, Korea, China, and Japan.

According to the most recent quarterly results for the period ending 30/9/2024, the revenue for Philippine has been consistently rising, and the net income has also shown steady improvement.

This indicates a brighter future for increased plant utilization in the Philippines, which will be evident in the upcoming quarterly results.

Regarding the operation in Malaysia, since the anti-dumping duty is expected to be implemented in 2025, the outcomes should be favorable.

Regarding the Vietnam operation, it remains quite stable.

In summary, as the Philippine operation accelerates and the Malaysian operation sees improved margins due to the anticipated anti-dumping duty in 2025, the light at the end of the tunnel is becoming increasingly bright.

1 week ago

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