Member Profile
Mark Tse  |
| Total Cumulative Posts |
16 |
| Joined |
Dec 2018 |
Comments
| | User Comments |
 |  01 May 2019, 5:15:17 PM
https://klse.i3investor.com/blogs/Bursa_Master/204681.jsp - another investor say about this
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| 01 May 2019, 11:32:26 AM
Sharing from i3 and thedge & thestar
https://klse.i3investor.com/blogs/lionind/204439.jsp - Detailed analysis by davidtslim, a quite famous investor and has his own community on telegram https://t.me/davidshare
News
ARB Bhd’s posted a record net profit of RM5.076mil in its first quarter ended March 31, contributed substantially by he stronger top line of its information technology segment.
In a statement Tuesday, ARB, formerly known as Aturmaju Resources Bhd said it posted its biggest quarterly revenue since 2015 as the group’s top line hit RM12.427mil in the first quarter, having increased sharply by 15,630% as compared to a revenue of only RM79,000 a year ago.
Read more at https://www.thestar.com.my/business/business-news/2019/04/30/arb-reports-record-profit/#7o11SvrhPlxQvpUx.99
"Our profit in 1QFY19 was generated from our recurring-income business model, which I believe has [been] reflected in two consecutive quarters. With a market capitalisation of less than RM50 million, I strongly believe ARB is undervalued by the investing community," Liew added.
Read more at https://www.theedgemarkets.com/article/arb-formerly-known-aturmaju-kicks-fy19-record-quarterly-profit?type=malaysia
News for chinese readers
http://chinapress.com.my/?p=1586949
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 | 22 Feb 2019, 11:33:23 AM
Aerospace Segment revenue up 25.3% while EBIT down 2.6% yoy
Aerospace revenue increased 25.3% yoy due to higher demand for casing products for business jets, increase in deliveries of prismatic parts and favorable exchange offsetted lower deliveries of casing products for older aircraft program however posted lower EBIT -2.6% yoy but higher EBIT qoq +5.6% due to higher cost incurred for the production ramp up for the manufacturing launch of the casing products and unfavorable product mix. We think this is temporary and normalise in coming quarters.
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| 22 Feb 2019, 11:33:14 AM
3QFY19 higher revenue and PBT but lower PAT due to higher tax
SAMEE 3Q19 posted higher revenue (yoy:+23.6%, qoq:+1.1%) and PBT (yoy:+1.2%, qoq:+4.1%) but lower PAT due to higher tax (yoy:-7.5%, qoq:+9.9%). Overall result meet expectation as cumulative 3Q19 earnings accounting for 75.8% of our FY19 full year earnings estimates.
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| 22 Feb 2019, 11:31:47 AM
目标价：2.23令吉最新进展
大马糖厂（MSM，5202，主要板消费股）截至去年12月底的末季，按年由盈转亏，蒙受1038万8000令吉的净亏，相等每股1.48仙。
当季营业额从6亿3556万3000令吉，按年跌16.43%，至5亿3112万7000令吉。
由于销售量下跌3%，加上平均销售价走低，冲击营业额表现，且融资成本也提高，最终导致亏损。
行家建议
归咎盈利疲弱，大马糖厂末季净利低于我们和市场的预测，落差分别为25%和39%。
由于新炼糖厂延迟营运的额外开销，加上政府批准高达80万至100万之间的白糖进口影响，末季和全年的本地白糖销售额，分别按年下滑11%与7%。
同时，白糖平均售价也分别按年下滑17%和13%，反映了原糖成本下降。
大马糖厂末季的扣除利息、税务、折旧与摊销前赚幅，按年下跌至4%，因为销售额较低和营运成本较高。
政府从去年9月调低白糖顶价至每公斤2.85令吉，我们认为将造成该公司每年营业额减少4750万令吉。
我们下调盈利预测和目标价至2.23令吉，相等于股价对账面价值（P/BV）0.8倍，并维持“减持”评级。
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| 22 Feb 2019, 11:31:21 AM
目标价：23.40令吉最新进展
大众银行（PBBANK，1295，主板金融股）截至12月底的2018财年，全年净利按年增长2.2%，至55亿9061万1000令吉。
全年营业额年增5.67%，至220亿4178万5000令吉。
该集团也宣布派发每股37仙的终期股息。全年共派息每股69仙，意味着上财年共派出27亿令吉做股息，派息率相等47.9%的净利。
行家建议
全年净利表现稍逊预期，仅达我们预测的94%，但达到市场预测的98%。
大众银行为今财年设下的增长目标较为缓和。由于宏观环境不稳定因素，贷款增长目标设在5%左右。
不过，管理层指贷款增长目标存在下行风险，因为贷款申请和批准按年已减少。
纳入去年业绩、较疲软的贷款与存款增长预测、非利息收入增长料较低以及净利息赚幅估计受压6个基点等因素后，我们下修了今财年与下财年的净利预测。
2019与2020财年的净利，分别料达57.282亿以及61.152亿令吉，较早前的预测为62.71亿以及67.92亿令吉。
按2019财年预估的股价对账面值比2.05倍，我们将目标价由25.50令吉，下调至23.40令吉，重申“卖出”评级。
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| 22 Feb 2019, 11:30:53 AM
目标价：25.50令吉最新进展
喜力大马（HEIM，3255，主板消费股）截至去年底末季净利，按年增6.8%至9999万7000令吉，每股派息54仙。
末季营业额从5亿8996万4000令吉，年增12.3%，至6亿6228万1000令吉。
累积全年，净利按年增4.6%至2亿8252万2000令吉；营业额则年增8.3%，报20亿2967万2000令吉。
行家建议
喜力大马最新业绩在我们和市场的预测范围内，全年累积派息共达每股94仙，股息派发率高达101%。
我们预料该公司通过推介创新产品和行销活动刺激消费者支出，以保障其市场份额。
除了配合营销策略和优质产品组合，我们认为更有效地去打击私酒，更能提振公司营业额。
另外，生产效率提升和更有效的营销支出，减缓了原料和包装成本上涨的利空，让该公司净赚幅维持在13.9%，因此，我们分别上调今明财年的盈利1%和2%。
根据股息贴现估值（DDM），顺应上调目标价，从19.60令吉升至25.50令吉，评级从“中和”提高至“买入”。
此外，我们认为能对公司造成风险的因素，包括意外上调的国产税、及私酒的市占率走高。
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| 22 Feb 2019, 11:30:23 AM
IOI集团（IOICORP，1961，主板种植股）日线股价趋势，于2月21日进入一段调整走势中，陷入一段短期调整趋势时，跌破4.72令吉后，以4.58令吉报收，按日跌15仙或3.17%，近期料会在4.43至4.57令吉间取得应有支撑。
21/2/19行情
闭市：4.58令吉
起落：-15仙
成交量：74,403宗
最高：4.70令吉
最低：4.51令吉
本益比：9.405倍
毛周息率：4.476%
52周最高：4.88令吉
52周最低：4.10令吉
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| 22 Feb 2019, 11:30:01 AM
恒源炼油（HENGYUAN，4324，主板能源股）日线交投走势，于2月21日闭市时收6.10令吉，按日涨44仙或7.77%，短期上升阻力或会处于6.11至6.54令吉水平。
21/2/19行情
闭市：6.10令吉
起落：+44仙
成交量：32,306宗
最高：6.10令吉
最低：5.66令吉
本益比：2.013倍
毛周息率：0.328%
52周最高：15.38令吉
52周最低：4.51令吉
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| 22 Feb 2019, 11:29:34 AM
亚洲航空（AIRASIA，5099，主板消费股）日线股价趋势，于2月19日显现着一段技术反弹走势，闭市时报3.29令吉，按日涨15仙或4.78%。短期间该股或会上挑3.30至3.44令吉的阻力关口。
21/2/19行情
闭市：3.29令吉
起落：+15仙
成交量：143,856宗
最高：3.29令吉
最低：3.12令吉
本益比：6.701倍
毛周息率：-
52周最高：4.75令吉
52周最低：2.30令吉
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| 22 Feb 2019, 11:29:06 AM
市场传言美国和中国或会达成贸易协议，马股的交投走势显得谨慎。
整体大市成功重返1730点水平线上。
富时隆综指于2月21日闭市时报1730.68报收，按日起4.50点或0.26%。
整日交投波幅介于11.01（1719.67-1730.68）点间。
富时隆综指30只成分股，于2月21日持续处于反弹走势。
慕达（MUDA，3883，主板工业股）于2月21日闭市时收2.19令吉，按日涨6仙或2.82%。
该股30分钟图表走势，于2月20日的交投走势，突破顶头阻力线（B1:B2）。
慕达30分钟平滑异同移动均线指标（MACD），于2月20日的交投走势，处于一个上升走势。
该股处于“0”支撑线上波动，后市交投走势，或会出现一段短线回试下限支持线的支撑（B1:B2）。
慕达的日线图表走势于回试后，或会显现一段反弹走势，或会挑战2.20至2.29令吉的阻力关口。
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| 22 Feb 2019, 11:28:01 AM
Risks to our call include: (i) better-than-expected crush margins, (ii) strong commodity price trends that lead to higher overall profit, (iii) better-than-expected biodiesel quota volumes, and (iv) better-than- expected movement in consumer demand.
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| 22 Feb 2019, 11:27:53 AM
Downgrade to UNDERPERFORM with an unchanged TP of RM16.60 based on joint Sum-of-Parts between PPB and Wilmar. Base year is unchanged at FY19E. We value our Grains & Consumer Products segment at 21.7x representing a 30% discount to QL Resources’ 3-year Fwd. PER of 31.0x; Palm Plantation segment at 24.7x, reflecting its FY19E FFB growth prospect of 5% and its large- cap and FBMKLCI component statuses; Film segment at 20.0x, in line with Consumer Retail peers; Sugar at 18.0x, in line with MSM’s valuation, and other segments at book value. Our TP implies FY19E PER of 19.6x (historical mean), while the stock is currently trading at 22.4x (+2.0 SD). As the group is likely to see softer fundamentals in the near term and valuation is expensive, we recommend investors to take profit. Meanwhile, we continue to monitor the upcoming listing of Wilmar’s China business (targeted for FY19-20), which could potentially benefit PPB with the possibility of special dividends being paid out by Wilmar post-listing.
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| 22 Feb 2019, 10:23:08 AM
FY18 earnings dropped by -21.2%yoy to RM42.5m. Pharmaniaga’s full financial year FY18 earnings came in at RM42.5m which is below ours and consensus earnings estimates at 70.4% and 65.8% respectively. The FY18 revenue for the rose modestly by +2.6%yoy while earnings dropped by -21.2%yoy.
Commendable revenue growth. Pharmaniaga’s FY18 higher revenue of RM2,385.0m (from RM2,324.0m in FY17) was mainly due to the higher revenue contribution coming from the logistics and distribution (L&D) division. The L&D segment revenue contribution rose by +6.3%yoy mainly attributable to the contribution from the concession business. This was partially mitigated by lower revenue from its Indonesian division which dipped by -5.4%yoy in view of the depreciation of the Malaysian Ringgit against the Indonesian Rupiah.
Earnings dropped due to a higher finance and tax costs. Pharmaniaga recorded a dropped in FY18 earnings of -42.5%yoy mainly driven by a higher cost incurred in relation to: (i) finance costs (+25.3%yoy) and; (ii) tax costs (+49.1%yoy). The latter was caused by a drawdown of about RM200.0m in borrowing (+51.8%yoy) while the latter was due to the underprovision of tax for prior years of about RM5.6m. In addition, a one-off compensation of about RM7.0m in relation to a previous joint venture company in China was also included in FY17. Nonetheless, these were mitigated by the fall in operating expenses of -10.2%yoy driven by the L&D division which reflects its efficiency in distributing pharmaceutical products to public hospitals in clinics in Malaysia.
Final dividend declared. Pharmaniaga declared a final dividend of 2.0sen per share for the quarter under review. This brings its accumulated dividend for the year to 16.0sen (vs FY17 of 19.0sen).
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| 22 Feb 2019, 10:22:43 AM
FY18 performance remains in the red. AAX recorded net loss in FY18 to the tune of –RM312.7m. Excluding exceptional items, the normalised net loss of -RM219.2m, missed ours and consensus’ expectations by a variance of more than 10%. The negative variance was due to the increase in overall opex, as a result of the +28.0%yoy rise fuel expenses in FY18 and the provision for an impairment amount due from the joint venture.
Flattish growth in revenue. Revenue in FY18 was little changed, declining only by -0.4%yoy. Revenue from ticket sales, ancillary and lease income also showed flattish trend except for freight services which jumped +7.0%yoy. The freight services segment was supported by the introduction of Redbox logistics, its new logistics arm but contribution to overall revenue remains low at <10%.
Load factor maintained at the expense of lower fares. Although the +2.8%yoy growth in ASK outstripped the +1.9%yoy growth in RPK due to the introduction of four new routes, the average load factor was maintained above 80%. Load factor remained resilient despite the increase in frequencies to Honolulu, Hangzhou, Sapporo, Busan and Taipei. The strength in load factor was supported by passengers carried growing to a record of 6.2m in light of average fares which were lower by -5.3%yoy at RM477. A load active strategy stands well in handling competition but only positive in routes that reached over capacity.
Fuel price was the major culprit for losses. With average fuel prices rising by +34.7%yoy in FY18, fuel expenses climbed +27.9% higher. As a result, fuel costs made up 40% of total operating costs in FY18, +7ppts more compared to the year before. Consequently, the annual average RASK-CASK spread turned negative for the first time in three years. Looking ahead, AAX has embarked on more conservative hedging policy; increasing its average hedge ratio to ~50% in FY19 compared to ~14% in FY19.
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| 22 Feb 2019, 10:22:24 AM
- Boilermech Holdings Berhad (Boilermech)’s 3QFY19 net profit was RM5.8m, which increased 5.3% qoq and 16.1% yoy. However, revenue tumbled 7.5% qoq and 8.1% yoy.
- As for 9MFY19, the Groups’ revenue and net profit improved 3.0% yoy and 12.3% yoy respectively. The encouraging yoy growth was underpinned by better performance in both Bio energy and Water treatment segments.
- Within expectations. The Group’s 9MFY19 net profit of RM16.3m was within ours and consensus expectation, meeting 74.8% and 75.8% of the full year net earnings forecasts respectively.
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