Highlights:
Shariah Setting Shariah Setting
ZHULIAN (5131) : ZHULIAN CORPORATION BERHAD
gen_hwang
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05 Jan 2012, 02:13 PMPost #1
MLM business, low PE compare to Amway. Stable growth especially in Indochina.

Dividend policy at 60% of profit, which is currently 0.03 every quarter. Net cash of over RM120M.
gen_hwang
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10 Jan 2012, 07:45 PMPost #2
Q411 result release likely before CNY. Hopefully Thailand flood did not affect its distributorship in Indochina.
ILoveDividend
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10 Jan 2012, 08:01 PMPost #3
Q411 result release likely before CNY. Hopefully Thailand flood did not affect its distributorship i...gen_hwang @ 10 Jan 2012, 07:45 PM

Nice gain for today. Perhaps it will post a good report card? thumbup
ILoveDividend
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14 Jan 2012, 11:57 PMPost #4
股息料可达13.9仙 速远集团获买入评级

Thursday, 12 January 2012 09:26 .
(吉隆坡11日讯)尽管全球经济放缓存在隐忧,券商依然看好速远集团(Zhulian,5131,消费品组)的盈利表现,进而维持其“买入”评级。

黄氏星展维高达研究在一份报告中表示,在11.3%的盈利复合年成长率和低维修资本开销(每年低于1千万令吉)支撑下,速远集团2011至2013财政年的自由现金流量(FCF)料达每股7仙至14仙。

该公司在截至去年8月31日止拥有总值1亿3千500万令吉的现金,如此料可持续其60%的派息政策。分析员指出,其派息政策意味着13.9仙或8.1%的净股息回酬率,在其所涵盖的股项中实属最高水平。

报告中表示,速远集团(将在本月中出炉的)2011财政年末季料可录得2千530万令吉净利(按季成长20%)和9千530万令吉营业额(按季成长3%)。这主要是受(i)年杪为实现去年销售目标而作出最后冲刺,冀以符合前往位于迪拜的速远集团2011年钻石国际峰会的资格,以及美元汇率在去年9月至11月间兑令吉按季增值4%(对其盈利带来4至5%的净正面效益)的利好所推动。

另一方面,泰国洪患对速远集团位于暖武里府(Nontaburi)的区域办事处和仓库影响不大,而实际上其经已达到内部销售目标。

尽管面对全球经济不确定性,他预计速远集团本财年净利将按年增长15%至1亿零660万令吉,而其营业额则料达4亿1千零50万令吉(按年成长12%)。

该公司盈利在2008/09次贷危机期间表现具弹性。其2008财政年及2009财政年净利分别取得27%和10%的按年成长率。泰国预料将会是本财年集团营业额的最大贡献者(52%),紧接着为大马(44%)。此外,在原料价格和美元兑令吉汇率趋稳的前提下,料速远集团的息税前赚幅可达22%(相对2011财政年(预测)的21.6%)。

该行同时也基于本财年6%股息回酬运算,维持速远集团2.30令吉的目标价格。

http://www.uniteddaily.com.my/index.php?option=com_content&view=article&id=77702:139-&catid=46:2009-10-23-07-13-11&Itemid=75[/url]
gen_hwang
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15 Jan 2012, 09:15 AMPost #5
hmm, 13.9 cents for the year. that means a 5 cents for FY11Q4 or 2.6% at current price.

yeah

tzejinlau
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16 Jan 2012, 08:35 AMPost #6
yup, i think its a good share to keep, and some info said that this "leng yan" actually keeps a lot if u know him...

but personally i dun really like MLM co...
juz my thought...:>
ILoveDividend
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16 Jan 2012, 09:47 AMPost #7
yup, i think its a good share to keep, and some info said that this "leng yan" actually ke...tzejinlau @ 16 Jan 2012, 08:35 AM

Do you mean 冷眼, i think most of the malaysia's investors know him. Hehe..smile
gen_hwang
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16 Jan 2012, 07:10 PMPost #8
I am a noob. Who is cold eye? shy
ILoveDividend
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16 Jan 2012, 07:30 PMPost #9
I am a noob. Who is cold eye? ...gen_hwang @ 16 Jan 2012, 07:10 PM
Hi Gen Hwang,

冷眼 is one of the most successful investor in malaysia. He is the author of 冷眼投资正道. You can read more about his investment's method from the link below:

http://www.oomoney.com/category/cold_eye/
gen_hwang
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16 Jan 2012, 07:54 PMPost #10
华文 huh... doh

My 华文没那么 high standard. Might need Google Translate...

Thanks ILoveDividend.
ILoveDividend
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16 Jan 2012, 08:01 PMPost #11
华文 huh... ...gen_hwang @ 16 Jan 2012, 07:54 PM

mmm..Cannot help you on this. smile
I am not too sure if there is any english version for his book. But he is a great investor and he shared all his knowledge to us and it is definetely a good book to have. If not mistaken, the first version of the book is sold out when he published his first book 10 years ago.
ILoveDividend
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19 Jan 2012, 05:29 PMPost #12
Congra Gen Hwang,

Good report card...Haha smile
gen_hwang
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19 Jan 2012, 07:22 PMPost #13
EPS increased by 18% Q on Q. Not bad indeed. Though no surprise on the DPS. Need to read their quarter report first.

Personally i think the share price movement recently has already factored in the EPS increase.
gen_hwang
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19 Jan 2012, 09:52 PMPost #14
as expected, strengthening of USD helps.

"The revenue for the current quarter under review of RM86.837 million was lower than the immediate preceding quarter’s revenue of RM91.795 million. This was mainly due to a drop in the local market demand. However, the current quarter’s profit before tax of RM34.950 million was higher as compared to the immediate preceding quarter’s profit before tax of RM29.768 million. This was mainly contributed by increase in share of profit of equity accounted investee as well as the strengthening of USD against Ringgit Malaysia as compared to third quarter."

highlights:
full year EPS 20.72 cents.
DPS maintained at 12 cents.
payout ratio at 58%, less than 60% expected.
cash at rm127m, or 28 cents per share.
ILoveDividend
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19 Jan 2012, 10:06 PMPost #15
as expected, strengthening of USD helps.

"The revenue for the current quarter under revi...gen_hwang @ 19 Jan 2012, 09:52 PM


Hi Gen Hwang,

Thanks for your sharing. My only concern on ZHULIAN is the business growing? Do you foresee its business growing in the future? Based on its pass few year result, its revenue does not grow much.

Do you know if they have any expansion planning in the future? notworthy
gen_hwang
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19 Jan 2012, 10:19 PMPost #16
what i can understand for their quarter reports so far is that Malaysian market is saturated. they rely more on Thailand and Cambodia's growth. have to wait for their annual reports for more details i guess.

but then, even without growth, they can sustain the EPS and DPS. that alone is good enough for a lazy person like me who hates TA. lol
ILoveDividend
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19 Jan 2012, 10:26 PMPost #17
what i can understand for their quarter reports so far is that Malaysian market is saturated. they r...gen_hwang @ 19 Jan 2012, 10:19 PM

Haha..Well said. thumbup
It is a good counter for long term and good dividend yield, even 冷眼 also invested in this counter.
Hope it can fly tomorrow. Hehe...smile
tzejinlau
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20 Jan 2012, 08:20 AMPost #18
Guys, guess that we can keep some after all...
ILoveDividend
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20 Jan 2012, 11:57 AMPost #19
Moving up slowly...Good one.thumbup
gen_hwang
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25 Jan 2012, 10:05 AMPost #20
Huat ah! yeah

yeah doh drool lol mad notworthy question rant rolleyes sad shutup shy smile star sweat thumbup wub cry


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