KIMHIN(5371)
Price Target : 1.73
- Australia moderate property market recover could drive higher ceramic demand
- Plan for upgrading existing plant for RM 10,000,000
- Domestic revenue share growth to 25% in 2016
- A recovery in property transaction volumes and more active secondary home market potential drive higher ceramic demand in FY 2018
- Second largest ceramic manufacturer behind White Horse by domestic revenue.
- Use RM 9.8 Million to purchase a penthouse at Melbourne Square Project
- Top 4 ceramic player
o
White Horse
o
Yi Lai
o
Seacera
o
Kim Hin
HOMERIZ
(5160)
The Star (1st November 2017)
Target Price : 1.18
- Improve cost through effective trainings for workers and continue seeking for automation opportunities.
Dividend payment (30th
October 2017)
- 2.2 sen, subject to the approval of HOMERIZ shareholders
- Bring total dividend of 4.2 sen for the financial year end 31 August 2017.
Quarterly Report for the financial year
end 31 August 2017 (30th
October 2017)
- Current year quarter had 19.2 % profit margin compared to last year 14.48 %. Cumulative quarter profit margin for these year is 21.02 % while last year profit margin is 20.42 %.
- Current year quarter effective tax rate is 19.37 % which is higher than last year quarter which is 17.31 %. However cumulative quarter effective tax rate for these year is 21.05 % which is lower than last year 22.51 %
- There is an increase of company asset in term of property plant and equipment by 10.02 %, inventories by 23.92 %, trade and other receivable by 23.56 %, and deposit, banks and cash balances by 6.60 %. These make the total asset increase by 12.40 % for the year
- HOMERIZ liability is increase by 4.26 % for the year 2016.
- HOMERIZ had net placement of RM 16,000,000 for the year 2016
LIIHEN
(7089)
- Price Target : 5.04
- Fire broke out in LIIHEN second premise of one of its subsidiary
- 4 out of 8 blocks production line are affected
- The lines affected are mainly old line cater for small quantity orders
- According to management the fire could affect 5 – 10 % of the November production
- In 2014, fire occurred in LIIHEN main factory and production is able to resumes in 3 days time.
Extraordinary General Meeting (1st
November 2017)
- The EGM had pass the proposal to acquisition of Domain Partners Sdn Bhd.
CHINWEL
(5007)
Annual report 2017 (30 October 2017)
- Total asset for 2017 had increase by 1.77 % mainly contributed by inventories increase by16.39 % and trade receivable increase by 3.03 %. There is decrease in property, plant and equipment by 2.25 % and cash and bank balance by 14.33
- There is increase of share capital by RM 28,162,800 due to new Companies Act 2016. No increase of number of outstanding share.
- The total liabilities had reduce by 17.45 % in 2017, which mainly contributed by other payables and accruals by 40.27 % and borrowing by 20.27%
- The profit margin had decrease from 21.10 % in 2016 to 17.60 % in 2017
- Effective tax rate had increase from 15.28 % in 2016 to 18.13 % in 2017
- There is significant increase in indirect material by 166.96 % in 2017
- Lesser inventories written off in 2017 which is RM 467,551 compared to RM 8,857,230 in 2016
