ABLE GLOBAL BERHAD

KLSE (MYR): ABLEGLOB (7167)

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Last Price

1.88

Today's Change

-0.03 (1.57%)

Day's Change

1.87 - 1.91

Trading Volume

339,900

Financial

Show?
Last 10 FY Result
AQR T4Q 31/12/23 31/12/22 31/12/21 31/12/20 31/12/19 31/12/18 31/12/17 31/12/16 31/12/15 31/12/14 CAGR
Revenue 725,873 713,748 648,512 550,017 499,860 501,900 578,679 501,123 475,488 441,199 416,600 316,779 8.28%
PBT 92,796 94,184 69,320 43,352 54,585 53,208 62,648 48,495 34,572 46,791 23,046 18,358 15.89%
Tax -24,008 -24,539 -16,883 -10,025 -14,156 -13,385 -13,246 -9,601 -7,771 -11,348 -7,385 -6,339 11.49%
NP 68,788 69,645 52,437 33,327 40,429 39,823 49,402 38,894 26,801 35,443 15,661 12,019 17.77%
-
NP to SH 67,830 69,021 51,991 33,146 39,890 39,475 48,581 38,537 26,636 35,593 17,302 12,979 16.66%
-
Tax Rate 25.87% 26.05% 24.36% 23.12% 25.93% 25.16% 21.14% 19.80% 22.48% 24.25% 32.04% 34.53% -
Total Cost 657,085 644,103 596,075 516,690 459,431 462,077 529,277 462,229 448,687 405,756 400,939 304,760 7.73%
-
Net Worth 467,514 467,327 439,815 402,907 381,378 356,775 341,520 316,682 291,844 223,982 195,044 180,973 10.36%
Dividend
AQR T4Q 31/12/23 31/12/22 31/12/21 31/12/20 31/12/19 31/12/18 31/12/17 31/12/16 31/12/15 31/12/14 CAGR
Div 24,606 24,602 19,991 12,302 15,378 16,608 19,870 15,523 17,076 9,954 3,266 1,865 30.13%
Div Payout % 36.28% 35.65% 38.45% 37.12% 38.55% 42.07% 40.90% 40.28% 64.11% 27.97% 18.88% 14.37% -
Equity
AQR T4Q 31/12/23 31/12/22 31/12/21 31/12/20 31/12/19 31/12/18 31/12/17 31/12/16 31/12/15 31/12/14 CAGR
Net Worth 467,514 467,327 439,815 402,907 381,378 356,775 341,520 316,682 291,844 223,982 195,044 180,973 10.36%
NOSH 307,575 307,452 310,470 310,470 310,470 310,470 310,470 310,470 310,470 248,868 93,322 93,285 14.28%
Ratio Analysis
AQR T4Q 31/12/23 31/12/22 31/12/21 31/12/20 31/12/19 31/12/18 31/12/17 31/12/16 31/12/15 31/12/14 CAGR
NP Margin 9.48% 9.76% 8.09% 6.06% 8.09% 7.93% 8.54% 7.76% 5.64% 8.03% 3.76% 3.79% -
ROE 14.51% 14.77% 11.82% 8.23% 10.46% 11.06% 14.22% 12.17% 9.13% 15.89% 8.87% 7.17% -
Per Share
AQR T4Q 31/12/23 31/12/22 31/12/21 31/12/20 31/12/19 31/12/18 31/12/17 31/12/16 31/12/15 31/12/14 CAGR
RPS 236.00 232.15 210.86 178.83 162.52 163.19 186.39 161.41 153.15 177.28 446.41 339.58 -5.15%
EPS 22.05 22.45 16.90 10.78 12.97 12.76 15.65 12.41 8.58 14.31 18.54 13.91 2.18%
DPS 8.00 8.00 6.50 4.00 5.00 5.40 6.40 5.00 5.50 4.00 3.50 2.00 13.98%
NAPS 1.52 1.52 1.43 1.31 1.24 1.16 1.10 1.02 0.94 0.90 2.09 1.94 -3.33%
Adjusted Per Share Value based on latest NOSH - 307,575
AQR T4Q 31/12/23 31/12/22 31/12/21 31/12/20 31/12/19 31/12/18 31/12/17 31/12/16 31/12/15 31/12/14 CAGR
RPS 236.09 232.15 210.93 178.90 162.58 163.24 188.22 162.99 154.65 143.50 135.50 103.03 8.28%
EPS 22.06 22.45 16.91 10.78 12.97 12.84 15.80 12.53 8.66 11.58 5.63 4.22 16.66%
DPS 8.00 8.00 6.50 4.00 5.00 5.40 6.46 5.05 5.55 3.24 1.06 0.61 30.04%
NAPS 1.5206 1.52 1.4305 1.3105 1.2404 1.1604 1.1108 1.03 0.9492 0.7285 0.6344 0.5886 10.36%
Price Multiplier on Financial Quarter End Date
AQR T4Q 31/12/23 31/12/22 31/12/21 31/12/20 31/12/19 31/12/18 31/12/17 31/12/16 31/12/15 31/12/14 CAGR
Date 30/09/24 30/09/24 29/12/23 30/12/22 31/12/21 31/12/20 31/12/19 31/12/18 29/12/17 30/12/16 31/12/15 31/12/14 -
Price 2.00 2.00 1.50 1.35 1.61 2.01 1.73 0.96 1.21 1.24 2.09 1.35 -
P/RPS 0.85 0.86 0.71 0.75 0.99 1.23 0.93 0.59 0.79 0.70 0.47 0.40 6.57%
P/EPS 9.07 8.91 8.87 12.53 12.41 15.66 11.06 7.73 14.10 8.67 11.27 9.70 -0.98%
EY 11.03 11.22 11.27 7.98 8.06 6.39 9.04 12.93 7.09 11.53 8.87 10.31 0.99%
DY 4.00 4.00 4.33 2.96 3.11 2.69 3.70 5.21 4.55 3.23 1.67 1.48 12.66%
P/NAPS 1.32 1.32 1.05 1.03 1.30 1.73 1.57 0.94 1.29 1.38 1.00 0.70 4.60%
Price Multiplier on Announcement Date
AQR T4Q 31/12/23 31/12/22 31/12/21 31/12/20 31/12/19 31/12/18 31/12/17 31/12/16 31/12/15 31/12/14 CAGR
Date 27/11/24 27/11/24 26/02/24 27/02/23 25/02/22 19/03/21 25/02/20 26/02/19 27/02/18 22/02/17 29/02/16 27/02/15 -
Price 1.88 1.88 1.57 1.42 1.49 1.79 1.78 1.36 1.23 1.42 1.81 1.61 -
P/RPS 0.80 0.81 0.74 0.79 0.92 1.10 0.96 0.84 0.80 0.80 0.41 0.47 5.16%
P/EPS 8.52 8.37 9.29 13.18 11.49 13.95 11.38 10.96 14.34 9.93 9.76 11.57 -2.40%
EY 11.73 11.94 10.77 7.59 8.70 7.17 8.79 9.13 6.97 10.07 10.24 8.64 2.47%
DY 4.26 4.26 4.14 2.82 3.36 3.02 3.60 3.68 4.47 2.82 1.93 1.24 14.32%
P/NAPS 1.24 1.24 1.10 1.08 1.20 1.54 1.62 1.33 1.31 1.58 0.87 0.83 3.17%

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
16 people like this. Showing 50 of 7,389 comments

emc2garylow

Some people comments without brain, 99% of bursa share are drop, they thought only this share drop. 小丑连世界局势都不知道

2024-08-05 10:02

G-boy

haha.. that why emc2gary, u just can earn from stock market..
we need more fool's blood money

2024-08-06 16:56

emc2garylow

Bombastic result

2024-08-28 19:25

howardmark

Good profit, but price drop. Bulls kena trap again.😂🤣

2024-08-29 18:48

emc2garylow

Someone must be bought at 1.5 1.6 then cut loss at 1.1 1.0,then now price at 2 already he feel not balance, heart pain, become hatred to this stock, see drop 2 cents already very happy

2024-08-29 20:51

howardmark

So many stuck above RM 2.00. just waiting to cut loss when the price hit 1.80. you better sell before the blood bath starts.

2024-08-29 21:08

emc2garylow

That's why u always loss money in stock

2024-08-30 05:22

howardmark

Mexico JV is a failure. Smart investors sell all before it is announced as total impairment.

2024-09-01 15:35

Cockcroach

Howardmark. Stop bad-mouthing a good stock. Please move on.

2024-09-01 18:05

donald770

Technically it is slow moving but patience will pay off.

2024-09-02 06:01

howardmark

I speak with data. Already 5 years, tell us how much is the profit from Mexico JV ???

2024-09-02 08:57

Cockcroach

https://theedgemalaysia.com/node/705812
.Edge Weekly

Able Global eyes US market to optimise Mexican factory output

By Liew Jia Teng / The Edge Malaysia

2024-09-03 06:10

howardmark

I guess you haven't read the quarterly reports of profit/loss of the joint venture.

2024-09-03 08:35

Cockcroach

Did read. There is no issue

2024-09-03 09:05

emc2garylow

Someone must be hurt badly by serbak, that's y he think every company is running by conman

2024-09-03 10:23

donald770

I read the qr report again n there is no mention of the loss in the Mexican venture.

2024-09-03 17:37

observatory

In 2021 Public Bank wrote that management targeted Mexico to breakeven by year end. Breakeven utilization set at 30%.
Latest report shows utilization is 35%-40%. However, there have been 2 continuous quarters of share of loss for JV as shown in the P&L. The results over the past 15 quarters have been inconsistent.
Given the company's fortune depends on commodity prices, and with the run up in share price since the last few months, IMO the risk reward is no longer appealing.

2024-09-04 16:05

solaris80

Q2 2024 Mexico JV was making profit, but the Mexico peso depreciation caused the JV making loss after unrealised forex loss take into account.

2024-09-04 22:06

observatory

Good point. Can you share how you deduce that JV was making profit but peso depreciation turned it into a loss? I couldn't find those info.
When I checked the Mexican Peso to Ringgit chart, it shows Mexican Peso has been strengthening against Ringgit from 2019 to mid 2024. The recent peso depreciation happened after mid 2024. But the quarter report is up to Jun 2024 only. In other words, the recent peso depreciation hasn't started during the reported quarter (worse to come in next quarter?)
Rightfully during the period when Peso was strengthening, it took fewer Peso profit to translate into each Ringgit profit. I wonder how the company turned a favourable forex condition (until mid 2024) into an unfavourable result.

2024-09-04 23:31

solaris80

Mexican Peso to USD.

2024-09-05 17:16

observatory

Reporting currency is in MYR. Anyway, a two-step exercise of Peso to USD, then USD to MYR, the effect is the same.

2024-09-05 18:55

solaris80

You may refer to Public Bank analyst report issued on 29th Aug.

Mexico operations. On the other hand, AGB’s Mexico operations slipped into a loss of RM0.4m, mainly due to unfavourable currency fluctuations. We gather that exports from its Mexico operations have been increasing steadily and is currently running at a higher utilization rate of 35-40% (previously 25-30%) as the group has started to export full range of products (full cream and filled milk) to US.

2024-09-05 19:25

observatory

Thanks for sharing the source. I missed the Public Bank report that “Mexico operations
slipped into a loss of RM0.4m, mainly due to unfavourable currency fluctuations”
So it means the operation was close to breakeven during Q2.

If I look back past 15 quarters since they started reporting the JV results, not only the Mexican progress was behind time, but the performance was also erratic. For example, loss in 3Q23, profitable in 4Q23, then loss again in 1Q24.

Have they really turned the corner?

2024-09-05 21:31

solaris80

Yes, last quarter, Q2 Able Mexico had granted the full range of product export licenses. CEO did mentioned it during AGM.

2024-09-06 08:43

howardmark

Dead fish remains very dead. 💀☠💩

2 months ago

emc2garylow

Alamak today +3%, next week u come comment again will up another 3%,better u come comement everyday

2 months ago

KPH5328

about 65% export market, import raw mat in USD, impact due to weakening USD should be minimum, anyone can shed some lights?
Expect better performance by JV as Mexico Peso against USD rebounds.

2 months ago

howardmark

dead fish wants you to be dead together 💩💩

2 months ago

xiaolongbao

wait next result out

2 months ago

howardmark

Everyday drops a bit... Boiling the frogs slowly...when the frogs realise that it's getting too hot, it would be too late to jump out.😂

2 months ago

howardmark

Killing you all slowly slowly

2 months ago

dawchok

The boiling water consists of solid earning each year and good prospects of growth. It is about the investor’s financial capability to stay long enough for the final win with consistent Div yield higher than FD.

2 months ago

dawchok

This counter meets RenYan investment criteria and is one of the main holding of him since N years ago

2 months ago

Happyman123

is ableglob going to have another Bombastic QR result?

1 month ago

howardmark

keep dreaming 🤧☠💩

1 month ago

KPH5328

Exporters esp tech jump due to USD strengthening, about 65% revenue of Ableglob is export, no benefit? Current share price weakness due to DT will hike 25% of Mexico goods?
Mex JV reported 1.8mil in Q4 2023, only quarter reported profit in past 1 year.

1 month ago

dawchok

Trump is to impose 25% tariff on products from Canada and Mexico, this will affect sales of AbleGlob Mexico to US. Since this is a quiet counter, I guess there will not be an obvious knee jerk on share price. However I opine this will inevitably affect the growth trajectory of AbleGlob.

3 weeks ago

dawchok

Relief that AbleGlob released another qtr result with growth again. NP +9.4%. 2 cts div. EPS 5.77cts. Great job, Johortin!!!

3 weeks ago

Cockcroach

Yes!!! Well done

3 weeks ago

spectre007

Another solid quarter

3 weeks ago

KPH5328

solid result even incur forex loss of 4.1mil, 0.95mil is unrealized while Mex JV still at loss.
Core profit 21.9mil.

3 weeks ago

dawchok

Good move. Ganbatte ku da sai !!!

2 weeks ago

dawchok

Should the new tariff(25%) on Mexico be implemented, we believe the impact on the group's earnings will remain minimal, as we understand that exports to the US from Mexico account for 10-15% of its sales.

2 weeks ago

dawchok

AGB's Mexico operations continue to post losses due to unrealised forex losses. The keywords are "unrealised forex loss". Yet NP grows by 9.4%.

2 weeks ago

dawchok

Outperform call with a higher SOTP-based TP of RM2.65,

2 weeks ago

howardmark

you all keep dreaming...💩💀☠️

1 week ago

howardmark

Dream never come true in this counter. ☠️💀

5 days ago

kimpeng

after a few rounds of buy and sell
now my average price is around rm1.05

4 days ago

dawchok

my average is 1.09, acquired in Feb-May2020.

3 days ago

howardmark

No more steam, all FOMOs kena trapped at high prices yet again. this counter will give you maximum pain for holding its stock. 2.20, not selling, 2.1, 2.0, 1.9... down down down, pain pain and more pain.☠️⚰️🪦

1 day ago

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