rolling 4 quarters--
stock price=rm1.88
eps=27.02 sen
nta=1.78
dps=10 sen
pe=6.96
roe=15.18
dy=5.3%
52w ;0.99--2.48
--公司于31-12-2015 累积净利达3892万,Q1加Q2净利共821万(1643SEN),
6个月净利己打破2013年至2015年的整年净利,
表现优势,Q3想信也有好的净利,SHH不失为成长与收息股.
--公司于31-12-2015 债务为798万，现金为3618
净现金达2820万。 每股 净现金达56.4sen.
---于6-10-2015的30大股己持42141,000股,市场流量只有7858,000股,总股数为50000,000
---这种公司经菅一流,好远见,創新都是立足市场的長青树,美国加息己來,美元上升,对出口股为利好,
rm1,88買入,去年股息10sen,dy=5.3%,当長期飯票,取得资本增值和等红股,乱市中不失为镇中之宝.
http://www.malaysiastock.biz/Corporate-Infomation.aspx?type=A&value=S&securityCode=7412
http://shh.com.my/
http://klse.i3investor.com/servlets/stk/7412.jsp
stock price=rm1.88
eps=27.02 sen
nta=1.78
dps=10 sen
pe=6.96
roe=15.18
dy=5.3%
52w ;0.99--2.48
--公司于31-12-2015 累积净利达3892万,Q1加Q2净利共821万(1643SEN),
6个月净利己打破2013年至2015年的整年净利,
表现优势,Q3想信也有好的净利,SHH不失为成长与收息股.
--公司于31-12-2015 债务为798万，现金为3618
净现金达2820万。 每股 净现金达56.4sen.
---于6-10-2015的30大股己持42141,000股,市场流量只有7858,000股,总股数为50000,000
---这种公司经菅一流,好远见,創新都是立足市场的長青树,美国加息己來,美元上升,对出口股为利好,
rm1,88買入,去年股息10sen,dy=5.3%,当長期飯票,取得资本增值和等红股,乱市中不失为镇中之宝.
http://www.malaysiastock.biz/Corporate-Infomation.aspx?type=A&value=S&securityCode=7412
http://shh.com.my/
http://klse.i3investor.com/servlets/stk/7412.jsp
1)
SHH Resources - 6.81x PE ratio, 5.4% div yield, 60 cents net cash (RM30m) and 250% profit growth
Author: ValueGrowthInvestor | Publish date: Fri, 18 Mar 2016, 08:38 AM
Having attended a presentation by the company, I managed to learn more about SHH's plans in 2016. Let us have look at SHH's current valuation metrics and industry data followed by their plans and outlook for 2016:
1) Last 12 months PE ratio is only 6.81x with net cash per share of RM0.60 (33% of market cap). Forward PE ratio obtained by annualising first half results of RM8m is 5.2x. ROE and net profit margin are above 15%. During the presentation, the company's boss informed participants that growth was seen in higher demand and not purely from stronger dollar.
2) Retail data from the US where SHH derives >90% is up 3.8%yoy and 0.5%mom (February is a much shorter month and non-peak in terms of seasonality).
3) Malaysia Timber council expects the strong growth in 2015 to continue in 2016 from higher demand from US and India.
4) SHH is spending CAPEX of RM3mil in FY16 (50% of FY15 profits and triple the amount spend in FY15) into improvements of manufacturing plant and machinery. This will reduce labour cost, increase efficiency and improve margins over the long run improving gross margins by 5% starting October 2016.
5) SHH is moving from generic furniture which makes up 70% of sales into original design furniture currently only 30% into a more even 50:50 split. SHH currently has the design team and is working closely with its clients from the US to design exclusive range of premium furniture. Expect marging to improve further with current trend showing margins doubling from 6% to 12% already.
6) The company is breaking into the hotel furnishing business where it has secured a sizeable amount of contracts from renown hotel operators and the entertainment industry from tenders called in addition to a recently concluded furniture exhibition. These carry high margins and recurring income for maintenance/replacements. SHH has very good track record and quality finishing which makes it preferred over its competitors.
7) It's largest customer in the US which is the largest furniture retailer in North America, i.e. Ashley Furniture Stores is placing higher orders for SHH products compared to last year. Ashley is ranked 105th in largest private companies in the US with revenue of US$4B. Growth is expected to be boosted by the launching of its E-Commerce business which is expected to accelerate growth.
8) To be very conservative, SHH should be valued at 8x forward PE from EPS of 36 cents giving it a target price of RM2.85 (massive55% upside). This is a 20% discount over its larger peers such as Liihen, Pohuat and Latitud. In addition, SHH has a much higher cash balance risk and steady shareholders (its largest shareholder and company founder purchased more shares in 4th quarter 2015 from MUI) reducing downside risk. No large shareholders waiting to make a quick buck such as a prominent i3 blogger.
1) Last 12 months PE ratio is only 6.81x with net cash per share of RM0.60 (33% of market cap). Forward PE ratio obtained by annualising first half results of RM8m is 5.2x. ROE and net profit margin are above 15%. During the presentation, the company's boss informed participants that growth was seen in higher demand and not purely from stronger dollar.
2) Retail data from the US where SHH derives >90% is up 3.8%yoy and 0.5%mom (February is a much shorter month and non-peak in terms of seasonality).
3) Malaysia Timber council expects the strong growth in 2015 to continue in 2016 from higher demand from US and India.
4) SHH is spending CAPEX of RM3mil in FY16 (50% of FY15 profits and triple the amount spend in FY15) into improvements of manufacturing plant and machinery. This will reduce labour cost, increase efficiency and improve margins over the long run improving gross margins by 5% starting October 2016.
5) SHH is moving from generic furniture which makes up 70% of sales into original design furniture currently only 30% into a more even 50:50 split. SHH currently has the design team and is working closely with its clients from the US to design exclusive range of premium furniture. Expect marging to improve further with current trend showing margins doubling from 6% to 12% already.
6) The company is breaking into the hotel furnishing business where it has secured a sizeable amount of contracts from renown hotel operators and the entertainment industry from tenders called in addition to a recently concluded furniture exhibition. These carry high margins and recurring income for maintenance/replacements. SHH has very good track record and quality finishing which makes it preferred over its competitors.
7) It's largest customer in the US which is the largest furniture retailer in North America, i.e. Ashley Furniture Stores is placing higher orders for SHH products compared to last year. Ashley is ranked 105th in largest private companies in the US with revenue of US$4B. Growth is expected to be boosted by the launching of its E-Commerce business which is expected to accelerate growth.
8) To be very conservative, SHH should be valued at 8x forward PE from EPS of 36 cents giving it a target price of RM2.85 (massive55% upside). This is a 20% discount over its larger peers such as Liihen, Pohuat and Latitud. In addition, SHH has a much higher cash balance risk and steady shareholders (its largest shareholder and company founder purchased more shares in 4th quarter 2015 from MUI) reducing downside risk. No large shareholders waiting to make a quick buck such as a prominent i3 blogger.
SHH (7412) - 新兴发资源 (SHH, 7412) RM1.85 買入--
http://kongsenger.blogspot.my/2016/05/7412-shh-rm185_49.ht
