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Jovi Lim Member Star
Total Cumulative Posts 17
Joined Dec 2018
Country MALAYSIA
Gender Male


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Corporate

STOCK: MAGNUM (3859)

Blog 22 Feb 2019, 11:18:24 AM

4Q18 boosted by strong ticket sales and luck factor. 4Q18 core profit inched up slightly to RM72.3m from RM71.9m in 3Q18 despite revenue increasing 9% to RM724.4m, as the strong ticket sales were mitigated by depreciation charges. The strong ticket sales, which drew RM17.5m per draw that is 13% QoQ higher than RM15.4m in 3Q18, was due to: (i) higher jackpot prizes attracting more sales, and (ii) more active enforcement on illegal operators by the authority. 4Q18 had less numbers of draw day of 45 vs. 47 in 3Q18 while EPPR stayed favourably at 63.6% vs. 63.2% previously. Besides, the previous 3Q18 results were partly boosted by the zero-rated GST period.

Corporate

STOCK: MAGNUM (3859)

Blog 22 Feb 2019, 11:18:15 AM

FY18 beat expectations. At 115%/111% of house/street’s estimates, FY18 core profit of RM247.2m came in above expectations owing to: (i) strong ticket sales in 4Q18, which jumped 9% QoQ, bringing FY18 ticket sales to RM2.93b, 3% higher than our estimate of RM2.88b, and (ii) luck factor remaining favourable at 63.6% in 4Q18, resulting in FY18 estimated Prize Payout Ratio (EPPR) of 64.8% vs. our assumption of 66%. Meanwhile, it declared a 4th and final NDPS of 4.0 sen (ex-date: 13 Mar; payment date: 29 Mar) in 4Q18, which is same as 3Q18 and 4Q17. FY18 NDPS of 15.0 sen (87% payout) is higher than our assumption of 12.0 sen (80% payout) and FY17’s 11.0 sen.

Corporate

STOCK: MAGNUM (3859)

Blog 22 Feb 2019, 11:18:05 AM

FY18 results were impressive, led by strong ticket sales and luck factor. In fact, 4Q18 average ticket sale per draw is the highest since 1Q15. With active enforcement curbing the illegal operators, we should see ticket sales improving further. Hence, we revise up FY19 estimates by 2% despite the special draws cut by half. Maintain OP at revised TP of RM2.50/DCF share.

Corporate

STOCK: OFI (7107)

Blog 22 Feb 2019, 11:17:18 AM

Upgrade to BUY from HOLD on OFI with a higher target price of RM0.85 (from RM0.66) following our earnings upgrade. Our revised target price is now based on PE multiple of 14.6x FY2019F EPS, which is -0.5 SD below its mean PE. We reckon that the worst is over for the Group and foresee the Group’s margins to recover gradually moving forward. Hence, we advise investors to buy on weakness as seeing value re-emerges.

Corporate

STOCK: OFI (7107)

Blog 22 Feb 2019, 11:17:05 AM

We revise upwards our core net profit forecasts for FY19F and FY20F by 49.5% and 18.8% to RM14.0m and RM15.6m respectively following increase in our margins assumptions.

Corporate

STOCK: OFI (7107)

Blog 22 Feb 2019, 11:16:54 AM

On-going expansion plans. OFI is currently making machinery acquisitions under its expansion projects for new product lines. The management expects these new lines will contribute positively towards the growth and profitability of the Group. These programs are expected to be completed in stages in the next few years.

Corporate

STOCK: OFI (7107)

Blog 22 Feb 2019, 11:16:43 AM

Declared third interim dividend. The Group has proposed a third interim dividend of 0.5sen/share for this quarter, which is lower than 1.0sen/share in a year ago. This brings the total dividend declared to 1.5sen/share for this financial year.

Corporate

STOCK: OFI (7107)

Blog 22 Feb 2019, 11:16:33 AM

Stronger qoq. OFI’s earnings soared qoq, mainly attributable to better gross margin (+5.3ppts). In addition, the Group also recorded a higher topline (+9.9%) during this quarter underpinned by local sales, up 12.7%. We reckon that the worst is over for the Group and foresee the Group’s margins to recover gradually moving forward.

Corporate

STOCK: OFI (7107)

Blog 22 Feb 2019, 11:16:23 AM

Better yoy. The Group posted a better yoy performance mainly attributable to higher topline (+7.9% yoy) especially from its export markets (+27.7%) coupled with stronger operating margin achieved (+7.1ppts) pursuant to lower selling & distribution expenses. However, the Group achieved weaker 9M results mainly due to lower gross margin (- 2.3ppts) as affected by higher raw material and labour costs during 1HFY19 as well as higher tax expenses (9MFY19 effective tax rate of 26.2% vs 18.3% in 9MFY18).

Corporate

STOCK: OFI (7107)

Blog 22 Feb 2019, 11:16:12 AM

Stronger-than-expected 3QFY19. Oriental Food Industries (OFI) chalked up a core net profit of RM5.1m in its 3QFY19 results, up 16.9% yoy and more than doubled qoq. Still, 9MFY19 core profit (after excluding realized and unrealized forex gains) was down 27.5% yoy. The 9M results were above our expectation as it already met our full year core net earnings estimate. The stronger-than-expected earnings were mainly due to commendable gross / operating margins achieved (actual 9MFY19: 18.3%/7.0% vs our forecast: 17.0%/4.5%) while 9M revenue was within our estimate (accounting for 75% of full year revenue).

Corporate

STOCK: INARI (0166)

Blog 22 Feb 2019, 10:13:54 AM

Thesis intact after QR released today. INARI 3 quarters of lower profits and lower revenue YoY. Even if you love this stock, it can longer sustain a growth stock PER (22x is high to me); it will definitely be discounted as a value play and growth investors will flock to competitors. Ignored the TA for the last few days but QR now confirmed it. Sell. 

Corporate

STOCK: ARMADA (5210)

Blog 22 Feb 2019, 10:11:32 AM

Since two days ago, CIMB came out with a downward revision of the target price of Armada from 70 sen to 30 sen. If the summary that TheStar is made correctly, it is weird that CIMB has taken the probability of a right issue to be called by Armada at 70% and it will stay status quo at 30%. Hence, based on that probability the analyst downgraded the call to 30sen.

First of all, if ever Bumi Armada is doing a cash call through rights issue, there should not be a revision in target price as a rights is a new call altogether. It should not affect the price unless, he is really looking at short term and not fundamentals. Secondly, as seen from his detailed analysis, he did a very thorough sum of parts analysis on the company identifying and valuing all the projects - after which he put a discount to the value - which to me is correct. However to put a weightage on the rights call probability and reduce the target based on that does not come from the "valuation book". There's no CFA that teaches that.

It additionally says that because Armada is contemplating to bid for new projects, hence it will need rights issue call. Again, the fact that Armada is looking at expansion by itself is not a bad thing, in fact it is a good thing.

Corporate

STOCK: GENM (4715)

Blog 22 Feb 2019, 10:09:49 AM

The opening of the outdoor theme park is delayed but it will eventually be opened at the end. Think carefully, the delay may cost the company some time loss but when it is opened, the anticipated fundamentals of the company will be in place. The delay will be a non-event when we already reach that point in time. Until today, there is no court filing from Disney and Fox to prevent the theme park from opening. I think the theme park may be opened within 6 months from now.

Corporate

STOCK: AIRASIA (5099)

Blog 22 Feb 2019, 10:08:31 AM

Airasia's share price hit RM4.75 during the same period last year.     The reason was due to expectation of favourable events to be happened, among others.   

Chart adjusted for the 40c special dividend, sort of.

However, due to higher oil price, delays, probe on Tony in India and wrong bet on BN etc etc, price halved in 8 months.    Since Nov 2018, market seems to be forgetting and forgiving!!!!

Now, Airasia is in a better position than last year, billions of cash in hand, very little debt and Castlelake deal in hand.    

BUY or sell, your call.   

Corporate

STOCK: VS (6963)

Blog 22 Feb 2019, 10:07:02 AM

Taking a look at some key metrics and ratios for V.S. Industry Berhad (KLSE:VS), we note that the ROA or Return on Assets stands at 0.049132.
The Shareholder Yield of V.S. Industry Berhad (KLSE:VS) is -0.077496. 
The Shareholder Yield (Mebane Faber) of V.S. Industry Berhad KLSE:VS is -0.04982.
The EBITDA Yield for V.S. Industry Berhad (KLSE:VS) is 0.107277. 
The Earnings to Price yield of V.S. Industry Berhad KLSE:VS is 0.081847.
The Earnings Yield for V.S. Industry Berhad KLSE:VS is 0.075933.
The Earnings Yield Five Year average for V.S. Industry Berhad (KLSE:VS) is 0.063814.
The Price to Book ratio for V.S. Industry Berhad KLSE:VS is 1.222628.
The Price to Cash Flow for V.S. Industry Berhad (KLSE:VS) is 19.921189. 
The price to earnings ratio for V.S. Industry Berhad (KLSE:VS) is 12.217849.
The Piotroski F-Score of V.S. Industry Berhad (KLSE:VS) is 4.
The Gross Margin Score of V.S. Industry Berhad (KLSE:VS) is 30.00000.
The ERP5 of V.S. Industry Berhad (KLSE:VS) is 4468.
V.S. Industry Berhad (KLSE:VS) has an M-Score of -2.054070.
The VC1 of V.S. Industry Berhad (KLSE:VS) is 19.
The Value Composite Two of V.S. Industry Berhad (KLSE:VS) is 31.
 

Corporate

STOCK: EKOVEST (8877)

Blog 22 Feb 2019, 10:00:27 AM

Traders may also be paying close attention to RSI levels on shares of EKOVEST BERHAD (8877.KL). The current 14-day RSI is presently sitting at 68.69, the 7-day is 77.55, and the 3-day is 92.33. The RSI, or Relative Strength Index is a popular oscillating indicator among traders and investors. The RSI operates in a range-bound area with values between 0 and 100. When the RSI line moves up, the stock may be experiencing strength. The opposite is the case when the RSI line is heading lower. Different time periods may be used when using the RSI indicator. The RSI may be more volatile using a shorter period of time. Many traders keep an eye on the 30 and 70 marks on the RSI scale. A move above 70 is widely considered to show the stock as overbought, and a move below 30 would indicate that the stock may be oversold. Traders may use these levels to help identify stock price reversals.


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