TALIWORKS CORPORATION BHD
KLSE (MYR): TALIWRK (8524)
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Last Price
0.79
Today's Change
+0.005 (0.64%)
Day's Change
0.79 - 0.795
Trading Volume
88,200
Overview
Market Cap
1,593 Million
NOSH
2,016 Million
Avg Volume (4 weeks)
489,557
4 Weeks Range
0.785 - 0.81
4 Weeks Price Volatility (%)
20.00%
52 Weeks Range
0.785 - 0.92
52 Weeks Price Volatility (%)
3.70%
Previous Close
0.785
Open
0.79
Bid
0.79 x 55,800
Ask
0.795 x 104,800
Day's Range
0.79 - 0.795
Trading Volume
88,200
Financial Highlight
Latest Quarter | Ann. Date
30-Jun-2023 [#2] | 22-Aug-2023
Next QR | Est. Ann. Date
30-Sep-2023 | 21-Nov-2023
T4Q P/E | EY
28.76 | 3.48%
T4Q DY | Payout %
8.35% | 240.29%
T4Q NAPS | P/NAPS
0.37 | 2.15
T4Q NP Margin | ROE
18.82% | 7.46%
Market Buzz
News and Blogs
Company Profile
Sector: UTILITIES
Sector: UTILITIES
Subsector: GAS, WATER & MULTI-UTILITIES
Subsector: GAS, WATER & MULTI-UTILITIES
Description:
Taliworks Corp Bhd is a Malaysia based company, primarily involved in the activities of Water treatment, supply and distribution. It is also engaged in the business sectors of Construction and engineering, Highway toll concessionaire, and operations and maintenance operator, and Solid waste management. The group generates the majority of the revenue from the Water treatment, supply and distribution segment which involves management, operations, and maintenance of water treatment plants and water distribution systems. It operates in Malaysia and China, of which the key revenue is derived from Malaysia.
Discussions
1 person likes this. Showing 50 of 1,967 comments
The dividend payout is expected and we're all gonna love it. But... What's with the fall of net profits?
2022-11-21 21:00
It's OK, nothing to be concerned about, Dividends will continue.
See: https://klse.i3investor.com/web/staticfile/view/479882
2022-11-22 12:08
The sellout because of the missed forecast of revenues?? But I do have faith that the rebounds in revenue happen at the next quarter report. Keep it for stable dividends and more solar energy is going to be harvested in the coming months. What concerns me is the dumps from LTH as there's no source about it.
2022-12-21 12:31
We will have to wait for the next report to see if the drop in profit was due to one off aspects. I note that T-Haji have not sold any shares since the end of November. Hopefully they have finished their selling. Time will tell. Div yield of 7.76 is undeniably attractive, so I see limited downside.
2022-12-21 18:04
Because the current dividend yield is not sustainable after langkawi gold egg missing
2022-12-22 18:24
if they cant find another golden egg goose, cant sustain the dividend with current business. the solar farm is not impressed also
2022-12-27 14:07
We can only rely of what we are officially told by Taliworks reputable management who in this case are not conmen. Based on the assurances given in the following article, I'm not selling my shares and I fully expect to continue to get my dividends. https://klse.i3investor.com/web/staticfile/view/479882
2022-12-29 12:36
I have no concerns about their toll and water treatment businesses
My only question mark is - "Is solar business REALLY a sustainable, profitable?"
2022-12-29 13:15
Again, we can only rely of what we are officially told by Taliworks reputable management who in this case are not conmen. Based on the assurances given in the following article the power production is already sold so cash flow should be assured. I think in the longer-term power can only get more expensive as its heavily subsidized in Malaysia, this bodes well for better revenue stream in due course. If Sola power is a dead end, then the whole world has it wrong. It is a must to lessen the reliance on coal and other fossil fuels. I expect large international sola power producers will emerge in coming years and may look at Taliwoks Power as a target for expansion. Who knows maybe Taliworks will be a big international player in years to come. With this acquisition Taliworks is already one of the largest, if not the largest Sola power generators in the region.
I'm not selling my shares. SEE:- https://www.theedgemarkets.com/article/taliworks-completes-four-solar-projects-acquisition
2022-12-29 15:01
As at Sep'22, the cash flow is negative from operation. Means the partial dividend is funded by borrowing/reserve, not from operation. The reserve will deplete one day.
2023-01-03 16:09
True that. On second look, I'm sceptical the renewable energy segment can sustain this dividend level going forward. Took profit and moved elsewhere. Bye Tali, thanks for the past dividends.
2023-01-08 19:59
Dividend announcement is coming later this month. I expect 1.65 cents, again.
2023-02-09 14:28
Alamak the results...not very wow-ING, the authorities for the grants keep delaying and delaying. Its like a four legged table lost one leg...
2023-02-17 10:05
Just going through the results. Just wondering y the dividend payout is higher than earnings? Is this sustainable?
2023-03-04 19:21
jz releases 1st q result, anybody know what is investment designated at fair value rm 97m under the current asset??
2023-05-23 09:51
Star 25th May 2023:-
PETALING JAYA: Taliworks Corp Bhd expects steady contribution from water and solar segments, with a slight dip for its highways, going forward.
Recognition from its construction segment is likely back loaded in financial year 2023 (FY23).
The company expects to pay 6.6 sen dividend per share (DPS) and its dividend yield of 8.1% remains its key focal point.
It foresees no issues in maintaining the 6.6 sen DPS going forward, HLIB Research said after attending a briefing with the company. Based on previous guidance, it said, optimising the capital structure in its renewable segment could add another RM120mil to RM130mil to its existing RM191mil cash pile, including investments.
2023-05-26 09:06
cwc1981, that's a tough question to answer. Clearly, EPS is not a good measure, because it is an accounting measure that doesn't reflect TALIWRK's cashflows properly, because it is after depreciation and non-cash adjustments that understates its cash generating abilities.
However, committing to 1.65 sen every quarter requires RM33 million cash payouts - that's a lot of money.
Q1/23 cash has improved than Q4/22 and Management indicates they can further improve from their renewables segment by over RM100 million, but Management can say anything.
One measure is EBDA (Earnings Before Depreciation and Adjustment). For Q1/23, it improved to RM23.6m vs RM20.0m the prior quarter. But RM23.6m is still less than RM33m dividends. So, I'm wondering if investors should be worried?
However, its EBITDA (Earnings Before Interest, Tax, Depreciation, Adjustment) is 36.3m, larger than 33m. But doesn't TALIWRKS have to pay interest costs, and taxes? And after payment, they don't really belong to shareholders anymore isn't it? So, how to justify?
However, if you look at its Cash holdings, after paying out 33m, its cash balance grew from 48m to 76m.
In short, yes, it looks fishy, but:
1. Management indicates they have no problem to support 1.65 sen dividend (but do you trust them?)
2. Cash increases. (but do you understand how cash has increased?)
3. Management further indicates there's room to improve the renewables segment (but do you trust them?).
If unsure, keep it a small proportion of your portfolio and don't be greedy with the high dividend yield.
Because Return OF Investment is much more important than Return ON Investment.
2023-06-05 17:46
Thanks DG 67. Haha after seeing your analysis I think I need to do more homework. Thanks
2023-06-18 10:38
I think we don't need to worry about Taliworks at least until year 203X, so long as they still have the highways and the water contracts. Worst case scenario drop a bit dividend per quarter, but easily still more than 6% annual yield.
2023-06-19 11:27
Dividend announcement is coming later this month. I expect 1.65 cents, again.
2 months ago
Looking forward to see its quarterly report in 2+ weeks time ... can't wait.
1 month ago
Price has taken a dive since Feb 2023 when swing high was 0.985. Today 0.800. Fortune favors the bold, dare to buy at 0.800?
1 month ago
Typo. swing high 0.985 Mar 2022. Nearly 18 months of downtrending, testing the patience of long term traders/investors.
1 month ago
If 1.65 sen quarterly dividend hold, that's 6.6 sen per year. Divide by 80 sen = 8.25% dividend yield! Tempting!
1 month ago
@pinky, thanks, when I saw the Q1 cashflows 2.5 months ago I thought it looks like it has potential ... my buy price at 0.80 finally filled after a long wait. Still, future is uncertain, I look forward to Q2 report in next couple weeks.
1 month ago
Lester, why do you say dividend sustainability is in doubt? (I hope you look beyond reported EPS, as reported EPS can be artificially lower than cashflow, due to accounting depreciation. Cash is a cleaner way to look at this company).
1 month ago
@Lester, saw your past comments that you own this stock "quite heavily" - would your view on its dividend sustainability change if you only own this stock small (e.g. 4% of your portfolio)?
I have an unbreakable policy to never buy any single stock more than 5% of my stock portfolio. This keeps all my buy "relatively small, relative to my total portfolio" in order to be objective about every one of them. When we invest say 50% in 1 stock, it is hard to sleep because any small variations will cause worry and lack of objectivity.
1 month ago
It is around 1/3 of my total portfolio. I am still holding it, wait for the latest quarter report. Since the langkawi water concession end and highway tax waiver end, the cash flow was impacted, the JV also not doing good, bad things keep coming.
1 month ago
No surprise, 1.65 sen divvy. But, see their cash flow statement. Nearly 100% of operating cash is paid out as dividend.
1 month ago
TALIWRK dividends will cost RM66.5m for H1/23, vs Net Cash from Operations (NCfO) of RM66.7m. H1/23 NCfO of RM66.7m is a significant improvement over H1/22 figure of RM37m, so at least this part is positive trend. The renewable energy is also doing better than prior year. Still looks to support RM1.65 dividend payment, with perhaps a positive bias, but the margin is thin, so, any negative surprise / bad news might cause the price to fall. That's why the dividend yield is so high. Dividend yield = 6.6 sen / 80 sen = 8.25%!!
1 month ago
If you feel pessimistic on TALIWRK, you may consider alternative hypothetical scenario of dividend cut to 4.8 sen per year (1.2 sen per quarter), similar to what they used to pay in Q3/2019 and prior. Under this scenario, 4.8 / 80 = 6.0% dividend yield, still beat EPF.
If you own small, you will not unduely worry about future adverse result or future dividend cut, because if the cause is temporary, then, low price is a friend to average down once price stabilizes. Very hard to lose if not greedy. (However, if you are greedy, it's a different story).
1 month ago
This kind of result seem to indicate that next quarter dividend has good chance to be 1.65 sen again, IMHO. I could always be proven wrong later since 3 months is a long time, and noone knows what will happen next 3 months. So, let's collect the 1.65 sen first after payment on 29 Sep, and then see what Q3 will be next.
1 month ago
@pinky, I'm not greedy. I already let go of my YTL after it delivered capital gains (net of comms) equal to 19 years of dividends, by holding a few short months.
1 month ago
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