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FIAMMA (6939) : FIAMMA HOLDINGS BERHAD
ILoveDividend
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Posts: 511
Joined: Dec 2011
Male, MYS
20 May 2014, 10:41 AMPost #1
Fantastic result. Net profit increased 58%. Cash on hand increased to RM108mil which is equal to RM0.80/share. Debt reduced from RM65mil to RM50mil. The improvement mainly due to the contributon from property development segment.

However, one should take note that its profit from primary segment (trading and services) recorded a decrease of 18.6%.

Below are the notes from the latest quarter report:
The Group’s revenue is derived primarily from the trading and services segment which contributed 76.5% of the Group’s net revenue. The segment recorded a net revenue of RM122.041 million as compared to RM119.336 million recorded in the previous financial period, representing an increase of 2.3%. However, PBT recorded by this segment is RM15.462 million against PBT of RM19.004 million for the preceding financial period, representing a decrease of 18.6%. The decrease in PBT was attributable to higher operating expenses incurred in the current quarter. The current financial period’s PBT of this segment represented 51.1% of the Group’s PBT.

The property development segment contributed 23.0% of the Group’s net revenue. The segment recorded a net revenue of RM36.679 million as compared to RM16.257 million recorded in the previous financial period, representing a growth of 225.6%. Consequently this segment recorded a PBT of RM13.834 million against PBT of RM2.783 million for the preceding financial period, representing a significant increase of 497.1%. The current financial period’s PBT of this segment represented 45.7% of the Group’s PBT. The revenue and PBT contribution is derived mainly from the Group’s commercial development in Jalan Tuanku Abdul Rahman, Kuala Lumpur.
Asriel
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Posts: 148
Joined: May 2012
Male, MYS
15 Jul 2014, 09:20 AMPost #2
好股分享~Fiamma
最近低估的好公司越来越少了,谢谢糊涂大大的推荐而让我发现到还有这一间遗珠

Fiamma~家满控股

一家以家庭电器品牌代理起家,现在业务分为有代理品牌销售家电,卫生洁具,医药器材,保健产品和产业发展
公司创办于1979年,上市于1997年。创办人为林子峰 ,现年57岁,也是现任的集团CEO。拥有超过30年的家电销售经验和超过15年的产业发展经验。

公司代理的品牌有Faber, Elba, Rubine, MEC 和 Tuscani。就这几个品牌就为公司家电销售额贡献了80%。其他代理的品牌还有Braun,Whirlpool和Omron。以上品牌都是平时在购物场所容易看到或者家喻户晓的品牌。

..............................

Summary:
以目前公司股价RM1.96来看,NTA RM2.15,,每股现金0.71。以数据来看已经可以判断公司还是低估的,这个还没考虑公司产业未来的贡献。不要忘了还有平均30%股息的派息率,差不多DY是4.5%,而且公司目前也是有能力派红股的能力。目前本人已经持有Fiamma成为我的3大主力股的最大的比例股,而且目前的组合让我有当年持有Tambun,Zhulian和CBIP的信心。Fiamma的确有能力成为我的另一只开番股。


Analysis posted by mesoon http://mesoon79.blogspot.com/
Asriel
Member Star
Posts: 148
Joined: May 2012
Male, MYS
15 Jul 2014, 09:26 AMPost #3
的确,现在被低估的好公司越来越少了,这是少有的一间。请多多注意,不久之后,又会被炒高了。我给它的Fair Value 是 RM 2.623. Target Selling Price 是 RM3.148.rolleyesyeah
8illonaire
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Posts: 3
Joined: Aug 2014
Male, MYS
12 Aug 2014, 11:24 AMPost #4
good earnings
low p/e
good business
why not?rolleyesrolleyesrolleyes
Asriel
Member Star
Posts: 148
Joined: May 2012
Male, MYS
18 Sep 2014, 12:27 PMPost #5
While Fiamma’s existing Centara project should be completed in Oct/Nov 2014, it has over RM1bil worth of projects in the pipeline, including a RM600mil high-rise development in Kuala Lumpur.

RHB Research said Fiamma’s home appliance distribution business was resilient, with the segment achieving 4% to 13% growth per annum previously despite the housing market’s mini ups and downs.

It added that Fiamma had been strong in the home appliances market with a wide distribution network nationwide, with the segment typically yielding 30% to 40% gross margins.

The research house said Fiamma’s low land costs created a revalued net asset valuation (RNAV) re-rating angle. The most significant contributor to RNAV is the 1.4-acre Jalan Yap Kwan Seng land, with a land cost of only RM631 per sq ft.

This is compared to the current market price for land parcels in the vicinity, which are already going above RM3,000 per sq ft.

http://www.thestar.com.my/Business/Business-News/2014/09/18/Crest-Builder-relooks-strategy/
IVKLSE
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Posts: 62
Joined: Aug 2015
Male, MYS
10 Aug 2015, 11:31 PMPost #6
I am a value investor and these is my view on FIAMMA. Kindly comments on my review.


http://ivkls.blogspot.com/2015/06/stock-review-fiamma-6939.html
IVKLSE
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Posts: 62
Joined: Aug 2015
Male, MYS
23 Aug 2015, 04:43 PMPost #7
I have done a review on the latest quarterly report for FIAMMA:

http://ivkls.blogspot.com/2015/08/stock-review-fiamma-6939-2.html

Feel free to comment.
IVKLSE
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Posts: 62
Joined: Aug 2015
Male, MYS
12 Dec 2015, 02:21 PMPost #8
I had review FIAMMA Quatery Report

http://ivkls.blogspot.my/2015/12/stock-review-fiamma-6939-3.html

Kindly review and give comment.
IVKLSE
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Posts: 62
Joined: Aug 2015
Male, MYS
03 Jan 2016, 09:06 PMPost #9
I had make a summary of my stock reviews in 2015.

http://ivkls.blogspot.my/p/ivkls-annual-report-2015.html

Kindly review and give comment.
IVKLSE
Member Star
Posts: 62
Joined: Aug 2015
Male, MYS
01 Feb 2016, 12:23 AMPost #10
I have review FIAMMA annual report 2015

http://ivkls.blogspot.my/2016/01/stock-review-fiamma-6939-4.html

Kindly review and give comments.
MatCendana
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Posts: 5
Joined: Mar 2012
Male, MYS
02 Feb 2016, 05:08 PMPost #11
7.5 sen dividend, 1-for-2 bonus after share split following a good financial year - I'm in. Fiamma's management has done a good job so far and they look capable of steering the company through these volatile times.
1

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

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