CAN-ONE BHD

KLSE (MYR): CANONE (5105)

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Last Price

3.41

Today's Change

+0.01 (0.29%)

Day's Change

3.40 - 3.42

Trading Volume

16,900

Overview

Market Cap

655 Million

NOSH

192 Million

Avg Volume (4 weeks)

35,380

4 Weeks Range

3.28 - 3.68

4 Weeks Price Volatility (%)

32.50%

52 Weeks Range

2.96 - 5.00

52 Weeks Price Volatility (%)

22.06%

Previous Close

3.41

Open

3.40

Bid

3.39 x 7,200

Ask

3.42 x 1,300

Day's Range

3.40 - 3.42

Trading Volume

16,900

Financial Highlight

Latest Quarter | Ann. Date

31-Mar-2022 [#1] | 26-May-2022

Next QR | Est. Ann. Date

30-Jun-2022 | 26-Aug-2022

T4Q P/E | EY

-17.23 | -5.80%

T4Q DY | Payout %

1.17% | 0.00%

T4Q NAPS | P/NAPS

9.29 | 0.37

T4Q NP Margin | ROE

-3.37% | -2.13%

Company Profile

Sector: INDUSTRIAL PRODUCTS & SERVICES

Sector: INDUSTRIAL PRODUCTS & SERVICES

Subsector: PACKAGING MATERIALS

Subsector: PACKAGING MATERIALS

Description:

Can-One Bhd engages in manufacturing of metal and lithographed cans, plastic jerry cans, and packaging and distribution of dairy and non-dairy products. It operates through following segments: General Cans, Food Products, International Trading, and Property and Investment Holding. The General Cans segment includes manufacturing and distribution of lithographed tin cans, plastic jerry cans, flexi pack, and rigid pack. The Food Products segment offers manufacturing and distribution of foods products. The International Trading segment involves the trading of dairy products and raw materials. Firm?s Property and Investment Holding segment and Food Products segment account for majority revenue of the firm. The firm generates a majority of its revenue from Malaysia region.

Discussions
9 people like this. Showing 50 of 2,341 comments

treasurehunt

The additional 9% windfall tax would be around 9 million provided Canone is able to achieve PBT 200 million in 2022. Minimal impact to mid company.

2021-10-29 20:04

mcheat

@treasurehunt Can-One profit not entirely derived from Malaysia as Vietnam and Singapore contributed a sizable chunk of profit too.

2021-11-03 11:58

treasurehunt

Mchea. Canone's Trading arm is located in Singapore. The entire purpose is to centralise the export sales from its Malaysia's operations to overseas customers The Trading arm earns the differences between higher selling prices to customers and intercompanies purchases.

2021-11-03 14:35

Ooi Cheng Kee

Can one become Cannot one

2021-11-03 15:04

mcheat

@treasurehunt Exactly, that's why they may not have big exposure to cukai makmur as sizable chunk of profit are not derived in Malaysia. Furthermore, the profit earned in Malaysia is captured in several entities instead of just one entity. Hence, taking into these consideration may not even have exposure to cukai makmur.

2021-11-03 15:37

mcheat

Or i should not use the tëchnical term "derive".....i should use the term "captured" or "booked" in Malaysia

2021-11-03 15:39

Value_Investor_888

Post removed.Why?

2021-11-10 10:56

gemfinder

luckily booked profit at 4.51. tq tq

2021-11-15 10:42

mcheat

Just realise that there were some changes in the head of finance of both boxpak and canone earlier this year....both cfos left

2021-11-15 15:15

Leo1960

Useless stock

2021-11-16 17:17

EVEBITDA

3.80 will be coming soon... technically but we also have results soon.. at 3.80 good support. see if it can break before results.

2021-11-18 01:32

Ooi Cheng Kee

Engine start

2021-11-19 15:58

Ooi Cheng Kee

Pancet

2021-11-25 10:50

sangkancil

https://fb.watch/9u1L_qo-c8/
alluminium and PET bottling

2021-11-25 16:40

sangkancil

Despite movement restriction in Vietnam and Malaysia,
Can1 still recorded profit. Lower revenue thus translate to lower profit, if they regain in full capacity ,I think they should have a better quarterly report on 4th quarter .

2021-11-25 19:14

treasurehunt

QR bagus tapi harga dah sangkut.

2021-11-25 19:24

sangkancil

Current market condition is no longer base on logic . its good for bargain hunting for value stock now .

2021-11-25 21:09

sangkancil

I owned Kianjoo berhad (KJB)share previously as long term investor until the day it was privatized by Can1
KJB was valued at 1.4 B , KJB was also bid by a Japanese consortium value it around 1.4x B when they want to get the 32.9 % KJB share owned BY Can1.
---------------------------------------------------------------------------------------
Before privatization
KJB market cap around 1.4B
Can1 around 600M
after privatization
Today market cap about 800m
that mean a combined market cap of 2 B become 800M
Can1 sold their creamer business for 1B that is extra money
so now at this price u buy Canone is like last time u buy KJB and get free can1 share with Extra 1B cash proceed from selling the creamer business + their factory land machinery +etc

Business model
market condition 2015 vs 2022 didn't change much
business model didn't change much
recession proof industry
market leader in South east Asia and Malaysia ( 70% market share )
now share price around RM 4

In summary , you can do your math and its just my opinion . Buy at your own risk
P/s I owned Canone bhd share

2021-11-25 21:25

sangkancil

analysis from treasure hunt was good, the main problem with this counter is lack of coverage by analyst + the management team not doing enough cooperate presentation in engaging with investor unlike Able Global (Johor Tin )

2021-11-25 21:50

sangkancil

"Candemic "= can shortage during pandemic

https://www.fox5vegas.com/news/supply-chain-disruption-leads-to-candem...

2021-11-27 23:09

sangkancil

Coca-Cola’s supply chain under pressure due to shortage of cans

https://www.theguardian.com/business/2021/sep/02/coca-colas-supply-cha...

2021-11-27 23:12

sangkancil

@treasurehunt , a lot of possibilities, we wont know about it. They are operating at 60 % capacity , if still can make money is very good .
risk to Can1 is minimal .now Can1 drop due to market sentiment
1.The reemergence of omicron virus won't affect them much if another lock down , last MCO Can1 still can operate at 60% unlike a lot of factories .
2.The risk of force labor issue is minimal unlike the glove and EMS sector .
3.No single concentration of main customer .
4. Foreign worker : Can1 don't depend on Indonesia worker unlike construction and plantation sector

Can or cannot in this market will need Mr Market to answer ....

2021-12-01 19:15

treasurehunt

@ sangkancil. In overall, we can't deny that general can division is operating in a relatively stable business environment.Wait and see the 4th Qtr 21.

2021-12-01 19:21

sangkancil

https://news.zol.com.cn/765/7652117.html
不只芯片缺,韩国或将面临易拉罐短缺危机

2021-12-01 22:41

sangkancil

根据财报,可口可乐今年Q3的营收增长主要是由于销量的大涨和价格上调抵消了商品和运费上涨带来的影响。

随着新冠疫情相关的不确定性正在减弱,餐厅和电影院消费逐步复苏,消费者们重出家门,带动了可口可乐第三季度销量大增。另一方面,通货膨胀推动了大宗商品原材料成本的上涨,使得可口可乐的塑料瓶、铝罐包装材料和高果糖浆原浆等原材料成本显著上涨,可口可乐在今年4月宣布涨价,将价格上涨的成本转嫁给消费者,以提升利润空间。

这是可口可乐时隔三年后的再次提价,上一次涨价是在2018年,当时公司给出的官方原因是时任总统特朗普提高了罐装原材料铝的关税价格。今年全球其他食品和饮料公司巨头也对产品进行了提价。以麦当劳为例,三季度财报显示,麦当劳净利润21.5亿美元,高于去年同期的17.6亿美元,同样受到了美国大客户订单和菜单的价格上涨的影响。

然而,当前食品企业面临的成本压力绝不仅仅是来自于原材料的价格上涨,更深层次的原因在于供应链危机。

2021-12-01 22:48

sangkancil

空前的供应链混乱正在全球各个行业上演,今年全球汽车行业因芯片短缺损失约2100亿美元,食品饮料行业也被波及。供应链危机导致包装、物流、能源等供不应求、价格上涨,这与大宗商品价格上涨和粮食供应短缺叠加,更加导致企业不得不通过涨价抵消成本的上涨。

和其他零售公司一样,可口可乐在供应链中的混乱和商品成本上涨的现状中,遭遇了供应短缺。此前据外媒报道,由于“铝罐短缺”造成供应链危机,可口可乐在英国和欧洲大陆的装瓶业务正面临压力。新冠疫情和英国脱欧加剧大型货运卡车司机的短缺,使批发商难以将货物送到商店,带了一系列物流挑战。

2021-12-01 22:48

sangkancil

E. RISKS
Volatility in commodity prices. Raw material generally makes up 70% to 80% of Can-One’s cost. Any big changes
in commodity prices will result in margin compression as it takes time for the company to pass on costs to its customers.
Foreign exchange risks. Can-One’s profitability is subject to currency effects as the raw material it uses are directlyor indirectly quoted in USD. About 35% to 40% of the group’s raw material costs are quoted in USD while the
remaining is sourced locally in ringgit. However, its income is naturally hedged as about a quarter of its sales are for export market.
Operational risks. Can-One is subject to local and foreign policies that could impact its profitability. Such policies include minimum wage, import and export policies among others. As a manufacturing company, it may also experience operational disruption such as pro-longed machinery breakdown/ accidents that could potentially affect its output. As an established company, we believe that Can-One have implemented sufficient measures to prevent such events and minimise impact of these incidents.

2021-12-05 16:16

thesteward

At current price so undervalue

2021-12-29 15:47

thesteward

Hopefully close the year at 4.50 at least

2021-12-30 12:05

sangkancil

survive the crash.. not tech stock, no forced labour issue , not glove related ,
Stable business

2022-01-15 18:10

Ooi Cheng Kee

QR BOM

2022-02-24 21:11

firehawk

The Group's net revenue for Q4, 2021 increased by RM101.2 million or 15.3% to RM763.8
million. Loss before tax reported by the Group was RM199.0 million in Q4, 2021 mainly due to
the following:
- Inventories written down of RM26.9 million; and
- Impairment of property, plant and equipment and right-of-use assets of RM214.0 million.

2022-02-24 23:03

firehawk

Operation profit margin also deteriorates,

4Q21 4Q20
Revenue 763,790 662,583
Cost of sales (697,915) (571,721)
---------- ---------
Gross profit 65,875 90,862

2022-02-24 23:37

firehawk

The most interesting part is,
the share price dropped significantly in high vol,
and later, after market closed, the Q result was announced at 5.42pm,

:D :D :D

2022-02-25 10:43

alibiii

the impairment probably is just disposing some old mercenary inherited from kianjoo acquisition that no longer usable to scrap yard, not affection cash flow pun, NTA still exceed RM9

2022-02-25 10:59

nuke

Probably involves Myanmar operations write-off like Boxpak (an associated co.?) .

2022-02-25 11:05

treasurehunt

The impairments came from Myanmar operations & Contract Packing.

Impairment of PPE:
- Box Pak Myanmar - 95.6 million
- General Can Myanmar - 69.6 million
- Contract Packing - 59.8 million

Inventories written down:
- Box Pak Myanmar - 13.3 million
- General Can Myanmar - 15 million

2022-02-25 11:20

alibiii

good info treasurehunt, where is all this info? cant find in the QR.

2022-02-25 11:35

treasurehunt

Machineries in Myanmar remains running but at lower capacity due to economy slowing down after army has taken over government .

2022-02-25 11:53

treasurehunt

alibiii. You have to read Box-Pak quarterly report first in the Review of Performance and follow by CanOne. Impairment PPE & inventories written down is derived from the total value in Canone after deducting Box-Pak's figures.

2022-02-25 11:59

alibiii

i see i see. Thanks treasurehunt. This will be one off and next QR should be good. Rm3 should be good entry point

2022-02-25 12:03

treasurehunt

It's actual a kitchen-sinking exercise.

2022-02-25 12:04

alibiii

haha true. If situation improve there may have positive write back in the future

2022-02-25 12:12

sheldon

Not much explanation given on the massive inventory & property, plant & equipment write down.

I personally have written-off this counter. I made >25k the first round. My 2nd strike doesn't look good in the near term. So I'll leave it aside & just collect whatever microscopic dividends they declare.

2022-03-01 13:15

8899EL8899

sell profitable business,......go to buy unprofitable can joo company,......

2 months ago

sangkancil

China-based canmaker Baosteel’s first beverage can plant in Malaysia has started production. Located on a 16-acre site within the Eco Business Park V at Puncak Alam in the Klang Valley of Selangor state, construction of the plant began in December 2020 with commercial cans being made this month (February). The first phase of the RMB461 million (US$66m) project has the capacity..

2 months ago

sangkancil

It is a profitable business , otherwise china won't invest a plant in Malaysia

2 months ago

Leo1960

China invest in Malaysia so that they can dump all their toxic materials in this Bolehland. The Japanese are also doing that now to keep their country clean after the Minimata incident

2 months ago

treasurehunt

Baosteel ad for employment of Assistant Production Manager. Salary: 4,500 - 6,300 MYR.
Salary so low ke?

2 months ago

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