Corporate Presentation
|
|
- Erik Ellis
- 5 years ago
- Views:
Transcription
1 Corporate Presentation 1Q14 Financial Results & Corporate Updates 28 May 214 Presented by: Mr. Brandon Tay, Managing Director IR Adviser AQUILAS CORPORATE UPDATE
2 Industry Overview Cocoa ingredients prices and demand stabilize however, headwinds might come from supply of beans Cocoa bean supply still in deficit in 213/214, pointing to higher bean prices ICCO estimated a cocoa supply deficit of 115, MT and decreasing bean inventory level for 213/214. At the same time worldwide grinding continue to increase, driven by US & Europe chocolate demand recovery. Cocoa bean prices have risen on concerns that the El Nino weather phenomenon could hurt supply. Cocoa ingredients prices continue to stabilize in 1Q14 Butter ratio and demand firm up as advanced economies stage gradual recovery. Cocoa powder prices remain flat, but demand has shot up due to low level of stock-in-hand among users. 3 OPERATIONS HIGHLIGHTS & GROWTH PLANS
3 1Q14 Operations Highlight Higher overall sales tonnage butter ASP continues to increase while solids saw increased demand 5 Sales Tonnage: +19.4% yoy vs 1Q13; % qoq vs 4Q13; Capacity utilization rate for 1Q14 : 85% Powder 16.6% of 1Q14 Revenue Cake 1.9% of 1Q14 Revenue Butter 57.4% of 1Q14 Revenue Cocoa Solids Sales Tonnage: +22.4% yoy, +44.4% qoq ASP: -42.% yoy, -7.5% qoq Sales Tonnage: +6.7% yoy, +.6% qoq ASP: +89.% yoy, +25.8% qoq Production Volume ( MT) Q212 3Q212 1Q213 3Q213 1Q14 Pasir Gudang Batam Average Selling Prices Trend Liquor 2.3% of 1Q14 Revenue Sales Tonnage: -27.9% yoy, -.8% qoq ASP: +24.1% yoy, +12.5% qoq 1Q212 2Q212 3Q212 4Q212 1Q213 2Q213 3Q213 4Q213 1Q214 Butter Powder 5 Growth Plans Immediate plan to manage inventory level of cocoa solids market development and downstream expansion to continue as planned Immediate Plans Medium-term Plans Long-term Plans Enlarging cocoa powder clientele US Market Development Developing New Export Markets Downstream Expansion To reduce powder stock pile Wholly-owned Carlyle Cocoa Co LLC to expand customer base, as well as to offer wider product range to US Market Leveraging on brand name clients (like Nestle, Mars, Lotte, etc) to target new overseas clientele To have direct presence (like US market) in other emerging markets of China, Russia, and South America New industrial chocolate facility at PTP raising production capacity to 1.4k MT pa Targeting industrial chocolate to contribute 4% of group revenue within 5 years Update: To concentrate more on tolling services and combined ratio selling To expand market share worldwide by appointing more distributors and agents, as well as introducing new brands To optimize production capacity at both facilities when necessary Update: To strengthen our marketing & sales force team Expanding our distribution network in the US market Update: To explore opportunities in both European and US markets Update: Currently PTP Plant running at capacity of 1,5 MT per quarter. Industrial Chocolate plant, PTP Johor 6
4 FINANCIAL HIGHLIGHTS 1Q14 Income Statement Earnings rebounded from two consecutive quarters of losses due to stronger cocoa butter prices and higher sales volume... Remarks 1Q14 1Q13 Change RM'mil FY % higher sales volume and higher cocoa butter prices Margins affected by depressed prices of solids, and further write-down of inventory Due to slightly higher depreciation and amortisation Affected by higher finance costs Effective tax rate lower than statutory tax rate principally due to non-taxable income % Revenue 1, (43.7%) EBITDA % 8.1% (4.6pt) EBITDA margin 2.9% (55.3%) EBIT % 7.% (4.6pt) EBIT margin 1.5% (71.7%) PBT % 6.2% (4.9pt) PBT margin.6% (68.1%) PATMI % 4.5% (3.4pt) Net margin.3% In line with PATMI (68.%) Basic EPS (sen).72 8
5 Yield Trend EBITDA yield turning around 9 RM 2, 1,5 1, 5-5 1, , ,58.6 1, , ,338.5 EBITDA Yield (based on productiontonnage) (RM per MT) 1,96.5 1,39.2 1,45.2 1, , (47.) (119.) 1Q12Q13Q14Q11Q112Q113Q114Q111Q122Q123Q124Q121Q132Q133Q134Q131Q Before provisions of inventory write-down MT Production Tonnage Q1 2Q1 3Q1 4Q1 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 Balance Sheet Gearing is expected to come off in coming quarters Balance Sheet (RM ) As at As at Remarks PPE & Prepaid Lease Payments 416, ,641 - Inventories 755,45 849,96 11% reduction mainly due to decrease in raw materials, as well as finished goods. Other Current Assets 37,28 242,623 Mainly due to higher trade receivables, in line with business volume. Current Liabilities 1,13,54 1,52,374 Trade payables decreased while trade loans increased. Non-Current Liabilities 141, ,38 - Shareholders Equity 333, ,766 - Borrowings (ST + LT) 1,3, ,11 Cash & Cash Equivalents 24,56 27,442 Higher net borrowings due to increased working capital needs Gearing (net of cash) 2.94x 2.78x As above Net Tangible Assets / Share (RM)
6 Analysis of Borrowings Rise in short-term debts due to working capital requirements x 4. Net Gearing & Effective Interest Rate Net Gearing (LHS) EIR (RHS) 8 % Q14 Interest coverage 2.1 x 4.6 x 23.1 x 23.1 x 13.3 x 1.6 x 2.3x 11 Key Financial Ratios Recent increased sales of solids help in relieving working capital pressure Working Capital Management FY212 FY213 1Q14 Current Ratio Collection period (days) Payment Period (days) Inventory processing period (days) Cash Conversion Cycle (days)
7 INVESTMENT MERITS Investment Highlights Cocoa industry gradually recovered from one-time market structural change in 213 New markets and downstream expansion to be next catalysts Grinding industry has seen the worst with cocoa solids prices and demand recovering while cocoa butter continued to see higher ratio Next growth impetus to come from industrial chocolates business Asia market still offers huge potential, evident from: Hershey s upcoming set-up in Iskandar Malaysia Cargill, Olam International Ltd, and Barry Callebaut setting up grinding facilities in Indonesia pushing overall capacity to about 6, MT. Customers of top chocolate and F&B product makers: Mars, Hershey, Lotte and Nestle still remain as growing customers 14
8 Dividend History Committed to 25% dividend payout policy Dividend History Dividend Payout (RM'mil) Payout Ratio (%) 394.2% Dividend Policy: 25% of Net Profit (effective FY211) 61.4% 58.8% 42.3% 17.7% 46.3% 27.6% 29.2% 34.8% FY25 FY26 FY27 FY28 FY29 FY21 FY211 FY212 FY213 Sen Net DPS FY25 FY26 FY27 FY28 FY29 FY21 FY211 FY212 FY Sen Adjusted Net DPS FY25# FY26# FY27# FY28# FY29# FY21# FY211# FY212# FY213 # Net DPS adjusted for 1-for-3 Bonus Issue in Feb 211 & 1-for-2 Bonus Issue in Sept THANK YOU IR Contact: Mr. Terence Loo : / terence@aquilas.com.my
9 APPENDIX CORPORATE PROFILE
10 Corporate Information The only pure cocoa player listed on Bursa Malaysia GUAN CHONG BERHAD s Main Shares Listed Main Market, Bursa Malaysia since 25 Sector Codes Share Capital Consumer Products Bursa: 512 / GCB Bloomberg: GUAN MK Reuters: GNCH.KL RM119.6 mil ( mil shares of RM.25 par) Market Capitalisation RM66.35 mil (RM1.38 as at 27 May 214) Codes Outstanding No. of Warrants Terms of Warrants GUAN CHONG BERHAD s Warrants 211/16 Bursa: 512WA / GCB-WA mil (as at 28 Feb 214) Expires 16 Feb 216; 1-for-1 Conversion; Exercise Price of RM2. Market Capitalisation RM47.8 mil (RM.4 as at 27 May 214) 19 Background Amongst the top 1 largest cocoa processors in the world.. Guan Chong Berhad (GCB) ventured into the cocoa business in Pasir Gudang, Johor, in 199 Began with a processing capacity of 6, MT/year Today, GCBis amongst the industry s global market leaders with total capacity of 2, MT/year Presence in Pasir Gudang, Malaysia (8, MT/year bean grinding, blending & mixing); Batam, Indonesia (12, MT/year bean grinding); and Delaware, USA (cake grinding) Cocoa products marketed under the Favorich brand GCB has a global distribution network of >7 distributors/agents and exports cocoa products to established clientele in >6 countries, including world-famous chocolate makers and leading cocoa ingredient traders 2
11 Revenue Trend 1Q14 earnings show signs of recovery Profitability Trend 1Q14 margins affected by increased competition in cocoa solids markets RM mil 2 EBITDA & Margin EBITDA EBITDA Margin Margins (%) 25% 16 2% RM mil % 3.4% % 17.6 PBT, PATMI & Margins PBT Net Profit PBT Margin Net Margin 9.6% 1.9% % % % 5.1% % % 1.7% % FY27 FY28 FY29 FY21 FY211 FY212 FY213 1Q213 1Q % 9.1% % FY27 FY28 FY29 FY21 FY211 FY212 FY213 1Q213 1Q214 12% % 3% 4.7.6%.3% % % 4.5% % % 1.1% 6.4 Margins (%) 16% % 1% 5% % 12% 8% 4% % 22
12 Production Facilities - Malaysia Comprehensive cocoa processing Guan Chong Cocoa Manufacturer S/B Bean processing at Pasir Gudang Annual capacity: 8, MT Enrich Mix S/B Sugar cocoa preparation at Pasir Gudang Annual capacity: 2, MT ISO:91 and HACCP certified GCB Specialty Chocolates S/B Industrial chocolate production (e.g. chocolate coating, sauce & cream, baking chips, etc) at Pasir Gudang Annual capacity: 1,4 MT at Tanjung Pelepas Plant GCB Foods S/B Producing own CacaoRich brand chocolate beverages, and OEM chocolate malt drinks for hypermarket house brands at Pasir Gudang Annual capacity: 2,4 MT 23 Production Facilities - Indonesia Batam plant benefiting from close-to-source and zero tariff PT Asia Cocoa Indonesia Incorporated in 21, and wholly owned by GCB Situated in Batam, the Group s second bean grinding factory started production in Feb 211 with initial annual capacity of 6, MT 2 nd line of 6, MT installed in June
13 Business Model Integrated operations from manufacturing to distribution Plantation Business Model Distribution Contribution to FY13 revenue Product Development Cocoa Ingredients Cocoa Preparation Manufacturing Local 6.8% Industrial Chocolates Branding & Marketing Export 93.2% Consumer Chocolates Distribution 25 Product Range Producing the finest cocoa ingredients for highly-discerning customers comprehensive product range 8% # 35% # 45% # # 1MT of cocoa beans typically yield.8mt of by products of cocoa butter (.35MT) and cocoa cake (.45MT) Cocoa Ingredients Cocoa Preparations Revenue Contribution (FY13) Cocoa Cocoa liquor cake 3% 11% Cocoa butter Cocoa powder 5% 26% Covertures & Confectioneries 5% 3% 26
Overweight Fair Value RM1.80 (+17.6%) Guan Chong Berhad. Company Visit. SJ Securities Sdn. Bhd. Strictly for internal reference only.
Company Visit 13 January 2014 Guan Chong Berhad Venturing Downstream, Industrial Chocolate SJ Securities Sdn. Bhd. Strictly for internal reference only Overweight Fair Value RM1.80 (+17.6%) Stock Data
More informationCorporate Presentation FY16 Corporate Update & Financial Results 26 September 2016
(Company No.: 7867-P) Corporate Presentation FY16 Corporate Update & Financial Results 26 September 2016 Powered by Twin Engines IR Adviser CONTENTS Powered by Twin Engines Operations Review & Growth Plans
More informationCorporate Presentation 2Q17 Corporate Update & Financial Results 22 March 2017
(Company No.: 7867-P) Corporate Presentation 2Q17 Corporate Update & Financial Results 22 March 2017 Powered by Twin Engines IR Adviser Powered by Twin Engines CONTENTS Operations Review & Growth Plans
More informationCompany Focus Guan Chong
Bloomberg: GUAN MK Reuters: GNCH.KL Malaysia Equity Research PP 11272/04/2012(029344) 29 Jul 2011 BUY RM2.71 KLCI : 1,551.91 Price Target : 12-Month RM 3.60 Reason for Report : Company update and 2Q11
More informationRoadshow presentation 3-Month Key Sales Figures 2016/17. January 2017
Roadshow presentation 3-Month Key Sales Figures 2016/17 Agenda BC at a glance Highlights 3 months 2016/17 Strategy & Outlook Page 2 BC at a glance Who we are? The heart and engine of the chocolate industry
More informationRoadshow presentation - Half-Year Results 2015/16. April 2016
Roadshow presentation - Half-Year Results 2015/16 April 2016 Agenda BC at a glance Highlights HY 2015/16 Financial Review Strategy & Outlook Page 2 BC at a glance We are present in the key parts of the
More informationCorporate Presentation 4Q17 Corporate Update & Financial Results 19 September 2017
(Company No.: 7867-P) Corporate Presentation 4Q17 Corporate Update & Financial Results 19 September 2017 Powered by Twin Engines IR Adviser OPERATIONS REVIEW & GROWTH PLANS Powered by Twin Engines Newly
More informationCorporate Presentation 1Q15 Corporate Update & Financial Results
(Company No.: 7867-P) Corporate Presentation 1Q15 Corporate Update & Financial Results Powered by Twin Engines 17 December 2014 IR Adviser CONTENTS Powered by Twin Engines Operations Review & Growth Plans
More informationGuan Chong. Malaysia Company Focus
Malaysia Company Focus Bloomberg: GUAN MK Reuters: GNCH.KL DBS Group Research. Equity 19 Aug 2011 BUY RM2.63 KLCI : 1,503.30 Price Target : 12-Month RM 3.60 Reason for Report : Company update Potential
More informationDaibochi Plastic & Packaging Industry Berhad
Daibochi Plastic & Packaging Industry Berhad Investors Briefing FY2009 Financial Results & Corporate Update 2 March 2010 IR Adviser AQUILAS 2 FY2009 Review FY2010 Business Strategies Investment Merits
More informationRoadshow presentation 9-Month Key Sales Figures July 2016
Roadshow presentation 9-Month Key Sales Figures 2015-16 Agenda BC at a glance Highlights 9 months 2015/16 Strategy & Outlook Page 2 BC at a glance Who we are? The heart and engine of the chocolate industry
More informationRoadshow presentation 9 months Key Sales Figures 2016/17. July 2017
Roadshow presentation 9 months Key Sales Figures 2016/17 Agenda BC at a glance Highlights Q3 2016/17 Strategy & Outlook Page 2 BC at a glance Who are we? The heart and engine of the chocolate industry
More informationJB Foods posts earnings of RM10.5 million on revenue of RM128.4 million for 2Q2012
JB Foods Limited Lot CP1, Jalan Tanjung A/6, Pelabuhan Tanjung Pelepas, 81560 Gelang Patah, Johor, Malaysia T +607-504 2888 F +607-507 1388 www.jbcocoa.com PRESS RELEASE JB Foods posts earnings of RM10.5
More informationPetra Foods posts US$26.3 million net profit in FY2007 net profit on 60% rise in sales to US$836.6m
FOR IMMEDIATE RELEASE Petra Foods posts US$26.3 million net profit in FY2007 net profit on 60% rise in sales to US$836.6m EBITDA growth of 9.1% reinforces the strong fundamentals of both Divisions Financial
More informationRoadshow presentation Half Year Results 2017/18. April 2018
Roadshow presentation Half Year Results 2017/18 April 2018 Agenda BC at a glance Highlights HY 2017/18 Financial Review HY 2017/18 Strategy & Outlook Page 2 April 2018 HY 2017/18 Roadshow Presentation
More informationMarket Access. Company Note. M&A Securities. Nestle Malaysia Berhad. Steering Away From Turbulence. Tuesday, June 21, 2016 HOLD (TP: RM79.
M&A Securities Company Note PP14767/09/2012(030761) Nestle Malaysia Berhad Steering Away From Turbulence 1Q16 results review. To recap, Nestle Malaysia Berhad (Nestle) registered its 1Q16 revenue at RM1.3
More informationCompany Focus Guan Chong
Bloomberg: GUAN MK Reuters: GNCH.KL Malaysia Equity Research PP 11272/04/2012(029344) BUY RM2.94 KLCI : 1,535.30 (Initiation coverage) Price Target : 12-Month RM 3.60 (22% upside) Potential Catalyst: Rising
More informationDaibochi Plastic & Packaging Industry Berhad
Daibochi Plastic & Packaging Industry Berhad 3Q16 Financial Results & Corporate Update 14 November 2016 IR Adviser AQUILAS 3Q16 Operational Highlights Growing regional sales Healthy topline growth on larger
More informationCompany Focus Guan Chong
Bloomberg: GUAN MK Reuters: GNCH.KL Malaysia Equity Research HOLD RM.78.78 KLCI :,674.4 Price Target : -Month RM.9 Reason for Report : Company update Potential Catalyst: Higher sales and cocoa bean prices
More informationMarket Access. Results Review (1Q15) M&A Securities. Nestle Malaysia Berhad. Pre-GST Buying. Thursday, April 23, 2015 SELL (TP: RM59.
M&A Securities Results Review (1Q15) PP14767/9/212(3761) Nestle Malaysia Berhad Pre-GST Buying Results Review Actual vs. expectations. Nestle Malaysia Berhad (Nestle) recorded a revenue of RM1.27 billion
More informationTOP GLOVE CORPORATION BHD Investor Presentation 03 Sept 2018
TOP GLOVE CORPORATION BHD Investor Presentation 03 Sept 2018 Bursa Malaysia : 7113 SGX : BVA Reuters : TPGC.KL Bloomberg : TOPG MK ADR CUSIP : 890534100 Page 1/21 TG BUSINESS ETHICS CLAPS Ready, 1 2 3
More informationMarket Access. M&A Securities. Results Review (1Q15) TSH Resources Berhad HOLD (TP: RM2.38) A Tough Quarter - More Room to Grow.
M&A Securities Results Review (1Q15) PP14767/09/2012(030761) TSH Resources Berhad Thursday, May 21, 2015 HOLD (TP: RM2.38) A Tough Quarter - More Room to Grow Results Review Actual vs. expectations. TSH
More informationTable 1 : Investment Statistics (Daibochi; Code: 8125) FYE Dec
Malaysia PP 7767/09/2009(022069) MARKET DATELINE Corporate Highlights Visit Note Daibochi Value In Packaging RHB Research Institute Sdn Bhd A member of the RHB Banking Group Company No: 233327 -M 3 September
More informationCOCOALAND HOLDINGS BUY. 9MFY15: On track for a record year. Company report. (Maintained) CONSUMER
CONSUMER COCOALAND HOLDINGS (COLA MK EQUITY, CCLD.KL) 26 Nov 2015 Company report Cheryl Tan, CFA cheryl-tan@ambankgroup.com 03-2036 2333 9MFY15: On track for a record year Rationale for report: Company
More informationJB FOODS LIMITED (Incorporated in the Republic of Singapore) (Company Registration Number D) (the Company )
JB FOODS LIMITED (Incorporated in the Republic of Singapore) (Company Registration Number 201200268D) (the Company ) INTERESTED PERSON TRANSACTIONS ENTERED INTO WITH GUAN CHONG BERHAD AND ITS SUBSIDIARIES
More informationMarket Access. Results Review (3Q15) M&A Securities. Dutch Lady Milk Industries Berhad. Double Whammy. Wednesday, November 18, 2015 HOLD (TP: RM47.
Market Access M&A Securities Results Review (3Q15) PP14767/4/212(296 Dutch Lady Milk Industries Berhad Double Whammy Results Review Actual vs. expectations. Dutch Lady Milk Industries Berhad (Dutch Lady)
More informationApril 1, 2011 Barry Callebaut H1 2010/11 results presentation
Half-Year Results 2010/11 Media presentation April 1, 2011 April 1, 2011 Barry Callebaut H1 2010/11 results presentation Cautionary note Certain statements in this presentation regarding the business of
More informationPART 1 INFORMATION REQUIRED FOR ANNOUNCEMENT OF QUARTERLY (1Q, 2Q, 3Q & 4Q), HALF YEAR AND FULL YEAR RESULTS
Unaudited Financial Statements and Dividend Announcement For the First Quarter and Three Months Ended 31 March 2015 PART 1 INFORMATION REQUIRED FOR ANNOUNCEMENT OF QUARTERLY (1Q, 2Q, 3Q & 4Q), HALF YEAR
More informationSteady Start for FY2018
Steady Start for FY2018 1) Year on Year Revenue up 20.2%. PATMI up 14.1%. 2) Quarter on Quarter Q1 results are traditionally weaker than Q4. 3) Key Indicators Property Sales : RM 166 million (Effective:
More informationFull Year Results 2014/15. Analysts Conference November 4, 2015
Full Year Results 2014/15 Cautionary note Certain statements in this presentation regarding the business of Barry Callebaut are of a forwardlooking nature and are therefore based on management s current
More informationRoadshow presentation - Full-Year Results 2016/17. November 2017
Roadshow presentation - Full-Year Results 2016/17 Agenda BC at a glance Highlights FY 2016/17 Financial Review Strategy & Outlook Page 2 BC at a glance Who are we? The heart and engine of the chocolate
More informationTOP GLOVE CORPORATION BHD Investor Presentation
TOP GLOVE CORPORATION BHD Investor Presentation 06 April 2016 Bursa Malaysia 7113 Reuters TPGC.KL Bloomberg TOPG MK ADR CUSIP 890534100 Company Overview Established in 1991 and listed on Bursa Malaysia
More informationHalf-year Results 2013/14
Half-year Results 2013/14 Analysts Conference April 3, 2014 Cautionary note Certain statements in this presentation regarding the business of Barry Callebaut are of a forward-looking nature and are therefore
More informationPART I INFORMATION REQUIRED FOR ANNOUNCEMENT OF QUARTERLY (Q1, Q2 & Q3,Q4), HALF YEAR AND FULL YEAR RESULTS
Petra Foods Limited Unaudited Financial Statement and Dividend Announcement For The Year Ended 31 December 2005 (Registration no. 198403096C) PART I INFORMATION REQUIRED FOR ANNOUNCEMENT OF QUARTERLY (Q1,
More informationDancomech Holdings Berhad Expansion to Cater for RAPID and East Malaysia. Fair Value: RM0.78 Main Market Listing. Not Rated
A Member of the TA Group MENARA TA ONE, 22 JALAN P. RAMLEE, 50250 KUALA LUMPUR, MALAYSIA TEL: +603-20721277 / FAX: +603-20325048 IPO Monday, July 04, 2016 FBM KLCI: 1,646.22 Sector: Plantation Dancomech
More informationTenaga Nasional Berhad Solid finish
28 October 2016 4QFY16 Result Review Tenaga Nasional Berhad Solid finish Maintain BUY Unchanged (TP): RM16.80 Tenaga s 4QFY16 beat estimates Volumes remained steady but average tariffs lower Our forecasts
More informationTOP GLOVE CORPORATION BHD Investor Presentation 16 Aug 2017
TOP GLOVE CORPORATION BHD Investor Presentation 16 Aug 2017 Bursa Malaysia : 7113 SGX : BVA Reuters : TPGC.KL Bloomberg : TOPG MK ADR CUSIP : 890534100 Modest Beginnings Founded in 1991 by Tan Sri Dr Lim
More informationMarket Access. Results Review (4Q16) M&A Securities. Scientex Berhad. Unstoppable Growth Amid Challenging Times. Tuesday, September 27, 2016
Market Access M&A Securities Results Review (4Q16) PP14767/04/2012(029 Tuesday, September 27, 2016 Scientex Berhad Unstoppable Growth Amid Challenging Times BUY (TP: RM8.33) Current Price (RM) New Target
More informationCHEMICAL COMPANY OF MALAYSIA BERHAD (CCM) Q2 AND H RESULTS 29 AUGUST 2018
CHEMICAL COMPANY OF MALAYSIA BERHAD (CCM) Q2 AND H1 2018 RESULTS 29 AUGUST 2018 THE AGENDA FOR TODAY CONTENTS OF PRESENTATION BRIEF ON CCM 1 2 FINANCIAL OVERVIEW OVERVIEW BY BUSINESS 3 4 WAY FORWARD 2
More informationSCGM Berhad (Not Rated)
SCGM Berhad (Not Rated) Great package deals Highlights Catalysts Risks Forecasts - A one stop leading thermo-vacuum formed plastic packaging manufacturer SCGM manufactures and sells its thermos-vacuum
More informationTOP GLOVE CORPORATION BHD Investor Presentation 02 Feb 2018
TOP GLOVE CORPORATION BHD Investor Presentation 02 Feb 2018 Bursa Malaysia : 7113 SGX : BVA Reuters : TPGC.KL Bloomberg : TOPG MK ADR CUSIP : 890534100 TG BUSINESS ETHICS CLAPS Ready, 1 2 3 Claps, 2x 3x
More informationTOP GLOVE CORPORATION BHD Investor Presentation 19 June 2018
TOP GLOVE CORPORATION BHD Investor Presentation 19 June 2018 Bursa Malaysia : 7113 SGX : BVA Reuters : TPGC.KL Bloomberg : TOPG MK ADR CUSIP : 890534100 Page 1/22 TG BUSINESS ETHICS CLAPS Ready, 1 2 3
More informationPetra Foods reports PATMI of US$15.2 million in 1H 2015
FOR IMMEDIATE RELEASE Petra Foods reports PATMI of US$15.2 million in 1H Own Brands sales continue to form more than 60% of revenue, underlining the success of the Group s product innovation and extension
More informationFull Year Results 2012/13
Full Year Results 2012/13 Analysts Conference Nov 7, 2013 Because we love chocolate Cautionary note Certain statements in this presentation regarding the business of Barry Callebaut are of a forward-looking
More informationTOP GLOVE CORPORATION BHD Investor Presentation 03 Nov 2017
TOP GLOVE CORPORATION BHD Investor Presentation 03 Nov 2017 Bursa Malaysia : 7113 SGX : BVA Reuters : TPGC.KL Bloomberg : TOPG MK ADR CUSIP : 890534100 TG BUSINESS ETHICS CLAPS Ready, 1 2 3 Claps, 2x 3x
More information(Registration no C) (Registration no C) Financial Results. (unaudited) 11 November 2009
3 rd Quarter and 9-Month 9 2009 Financial Results (unaudited) 11 November 2009 1 Important note on forward looking statements The presentation herein may contain forward looking statements by the management
More informationTOP GLOVE CORPORATION BHD Investor Presentation 05 April 2018
TOP GLOVE CORPORATION BHD Investor Presentation 05 April 2018 Bursa Malaysia : 7113 SGX : BVA Reuters : TPGC.KL Bloomberg : TOPG MK ADR CUSIP : 890534100 Page 1/22 TG BUSINESS ETHICS CLAPS Ready, 1 2 3
More informationCompany Presentation 1Q 2014 Results. 30 April 2014
Company Presentation 1Q 2014 Results 30 April 2014 Presentation Outline 1 Business Overview 2 Plantation Highlights 3 Financial Highlights 4 Strategies and Expansion 2 Section 1 Business Overview 3 Integrated
More informationTOP GLOVE CORPORATION BHD Investor Presentation 03 Jan 2018
TOP GLOVE CORPORATION BHD Investor Presentation 03 Jan 2018 Bursa Malaysia : 7113 SGX : BVA Reuters : TPGC.KL Bloomberg : TOPG MK ADR CUSIP : 890534100 Modest Beginnings Founded in 1991 by Tan Sri Dr Lim
More informationPUBLIC INVESTMENT BANK
PUBLIC INVESTMENT BANK PublicInvest Research Company Update Monday, November 02, 2015 KDN PP17686/03/2013(032117) MALAYSIA STEEL WORKS (KL) Neutral DESCRIPTION New Rolling Mill One of the smallest steelmakers
More informationMONTHLY COCOA MARKET REPORT. August 2014
MONTHLY COCOA MARKET REPORT August 2014 Important Notification The information provided is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution
More informationFull Year Results 2016/17. Analysts Conference November 8, 2017
Full Year Results 2016/17 Analysts Conference Cautionary note Certain statements in this presentation regarding the business of Barry Callebaut are of a forwardlooking nature and are therefore based on
More informationBermaz Auto Strong comeback
13 March 2018 3QFY18 Result Review Bermaz Auto Strong comeback INVESTMENT THESIS 3Q18 results in-line Earnings gapped up 82%qoq and 61%yoy MMSB volumes/earnings hit record high Re-affirm BUY at unchanged
More informationHalf-year Results 2013/14
Half-year Results 2013/14 Media Conference April 3, 2014 Cautionary note Certain statements in this presentation regarding the business of Barry Callebaut are of a forward-looking nature and are therefore
More informationTOP GLOVE CORPORATION BHD Investor Presentation 13 November 2018
TOP GLOVE CORPORATION BHD Investor Presentation 13 November 2018 Bursa Malaysia : 7113 SGX : BVA Reuters : TPGC.KL Bloomberg : TOPG MK ADR CUSIP : 890534100 Page 1/20 TG BUSINESS ETHICS CLAPS Ready, 1
More informationTenaga Nasional Bonus earnings not sustainable
29 January 2018 1QFY18 Results Review Tenaga Nasional Bonus earnings not sustainable 1QFY18 within estimates RP1 earnings inflated by favourable customer mix Bonus regulated earnings not sustainable in
More informationEONMETALL GROUP BUY. Strong earnings growth remains visible. Company report. (Maintained) MANUFACTURING
MANUFACTURING EONMETALL GROUP (EONM MK EQUITY, EONM.KL) 18 July 2017 Company report AmInvestment Bank ww.amesecurities.com.my 03-2036 2250 Strong earnings growth remains visible Rationale for report: Company
More informationPRESTARIANG. (PRES MK EQUITY, PSTG.KL) 23 May UniMy closer to breakeven. Rationale for report: Company result Investment Highlights
Price Fair Value 52-week High/Low Key Changes Fair value EPS Company report Lavis Chong RM2.35 RM2.60 RM2.53/RM1.69 PRESTARIANG TECHNOLOGY (PRES MK EQUITY, PSTG.KL) 23 May 2017 UniMy closer to breakeven
More informationKINDLY REFER TO THE LAST PAGE OF THIS PUBLICATION FOR IMPORTANT DISCLOSURES
28 November 2016 1QFY17 Results Review Sime Darby Berhad FFB production affected by El Nino INVESTMENT HIGHLIGHTS 1QFY17 core earnings below expectation Plantation division FFB volume is lower than expected
More informationSupermax Corporation Berhad OBM expenses pressuring on profit margin
06 November 2015 Initiate Coverage Supermax Corporation Berhad OBM expenses pressuring on profit margin Initiate with NEUTRAL Target Price (TP): RM2.09 INVESTMENT HIGHLIGHTS Pioneer of OBM gloves in Malaysia
More informationCompany Result 25 August 2017 Oriental Food Industries Holdings Berhad On a steady path
JF APEX SECURITIES BERHAD (47680-X) Company Result 25 August 2017 Oriental Food Industries Holdings Berhad On a steady path HOLD Maintained KLCI 1771 points Share Price RM1.61 Target Price RM1.61 Expected
More informationArne Frank, CEO Fredrik Nilsson, CFO. Interim report Second quarter 2016
Arne Frank, CEO Fredrik Nilsson, CFO Interim report Second quarter 2016 Agenda Agenda Second quarter 2016 Business area information AAKtion Acquisition - California Oils Corporation Q & A 2 The Co-Development
More informationMMC Corporation Berhad Recovery continues in ports segment
23 November 2017 3QFY17 Results Review MMC Corporation Berhad Recovery continues in ports segment INVESTMENT HIGHLIGHTS 9MFY17 earnings above estimates PTP and Johor Port continues to recover Malakoff
More informationNew Hoong Fatt Holdings Berhad One-stop automotive replacement parts seller
05 April 2017 Small Cap Highlight New Hoong Fatt Holdings Berhad One-stop automotive replacement parts seller INVESTMENT HIGHLIGHTS Auto parts trader and maker with a good track record Strategic venture
More informationSupermax Corporation Berhad Super value on offer
PP 10745/05/2013/032438 19 July 2012 Initiating coverage Supermax Corporation Berhad Super value on offer BUY Target Price (TP): RM2.48 INVESTMENT HIGHLIGHTS World class latex glove producer. SUPERMAX
More informationANALYST BRIEFING MSM Malaysia Holdings Berhad Analyst Briefing Q /5/2017 1
ANALYST BRIEFING 1 CONTENTS 01 02 03 04 05 Group Financial Highlights Performance Review Sugar Market Overview Ongoing Initiatives Q&A Session 2 GROUP FINANCIAL HIGHLIGHTS FOR THE FIRST QUARTER 2017 RESULTS
More informationNZX/ASX release 18 February 2016 MANAGEMENT DISCUSSION & ANALYSIS FOR INTERIM FINANCIAL RESULTS FOR THE 2016 FINANCIAL YEAR
NZX/ASX release 18 February 2016 MANAGEMENT DISCUSSION & ANALYSIS FOR INTERIM FINANCIAL RESULTS FOR THE 2016 FINANCIAL YEAR Non-GAAP financial measures Nuplex results are prepared in accordance with NZ
More informationTenaga Nasional New policy underpins rising dividend potential
13 December 2016 Corporate Update Tenaga Nasional New policy underpins rising dividend potential Maintain BUY Unchanged (TP): RM16.80 Tenaga announced a new dividend policy of a 30%-50% earnings payout
More informationSri Trang Agro-Industry Public Company Limited
Sri Trang Agro-Industry Public Company Limited Management Discussion and Analysis, Q1 2017 12 th May 2017 STA : The World s Leading Natural Rubber Player Financial result overview In Q1 2017, Natural rubber
More informationFY10/11 Half Year Results Briefing
Fraser & Neave Holdings Bhd FY10/11 Half Year Results Briefing 6 May 2011 Presented by : Dato Ng Jui Sia, CEO Group results Financial highlights Strong double digit growth from core F&B business Revenue
More informationWILMAR INTERNATIONAL LIMITED 4Q2016 Results Briefing. Feb 20, 2017
WILMAR INTERNATIONAL LIMITED 4Q2016 Results Briefing Feb 20, 2017 IMPORTANT NOTICE Information in this presentation may contain projections and forward looking statements that reflect the Company s current
More informationFinance Costs (63) (1,472) (638) (8,530) Share of result from associate 21 (100) (947) (984) Profit Before Taxation 42,166 79, , ,992
AWARDED ISO 9001 TOP QUALITY, TOP EFFICIENT, GOOD HEALTH, SAFETY FIRST & BE HONEST Public Listed Company on Bursa Malaysia Main Market The World's Largest Rubber Glove Manufacturer Lot 4969, Jalan Teratai,
More informationResults Review. 3QFY13: Downsizing its workforce. Technology Bloomberg Ticker: UNI MK Bursa Code: November 2013
Results Review (Member of Alliance Bank group) PP7766/03/2013 (032116) 8 November 2013 Analyst Toh Woo Kim wookim@alliancefg.com +603 2604 3917 12-month upside potential Previous target price 0.89 Revised
More informationQ1/FY2017 Supplemental IR information
Q1/FY2017 Supplemental IR information (FYE March 2018) August 7, 2017 FUJI OIL HOLDINGS INC. Table of Contents 1 Q1/FY2017 profit and loss summary 3 2 Q1/FY2017 Key points of financial accounting 3 3 Q1/FY2017
More informationBUY Target Price, Rp 4,350 Upside 11,9%
Friday, 9 May 214 BUY Target Price, Rp 4,350 Upside 11,9% SMSM IJ/SMSM.JK Last Price, Rp 3,885 No. of shares (bn) 1,439 Market Cap, Rp bn 5,591 (US$ mn) 484 3M T/O, US$mn 0.2 Last Recommendation 09Jan14
More information(Registration no C) (Registration no C)
3 rd Quarter & 9-Month 2012 Financial Results (unaudited) 8 November 2012 1 1 Important note on forward-looking statements The presentation herein may contain forward looking statements by the management
More informationWILSON & YORK 28/11/2012
Financial Year End 31/12/2012 Report Period Ending 30/09/2012 Reporting Quarter 3Q-2012 RESULTS REPORT Recommendation HOLD Target Price (MYR) 2.30 Current Price (MYR) 2.25 Industry Group Industry Sub Group
More informationCorporate Profile. 11 January 2018
Corporate Profile 11 January 2018 Introduction to Kim Loong Resources Berhad ( KLR ) Group KLR s holding company, Sharikat Kim Loong Sendirian Berhad, had its beginning back in 1967 with a 1,000 acre rubber
More informationBURSA MALAYSIA BUY. Riding on sustained trading interest. Company report. (Maintained) Rationale for report: Company Result STOCK EXCHANGE
STOCK EXCHANGE BURSA MALAYSIA (BURSA MK, BMYS.KL) 22 October 22 Company report Cheryl Tan cheryltan@ambankgroup.com +63 236 2293 Riding on sustained trading interest Rationale for report: Company Result
More informationFELDA GLOBAL VENTURES HOLDINGS BERHAD Financial Results Briefing 3 rd Quarter for the Financial Period Ended 30 Sep 2017
FELDA GLOBAL VENTURES HOLDINGS BERHAD Financial Results Briefing 3 rd Quarter for the Financial Period Ended 30 Sep 20 Presentation by: Dato Zakaria Arshad, Group President / Chief Executive Officer Ahmad
More informationOLAM INTERNATIONAL LIMITED (Incorporated in the Republic of Singapore) (Company Registration Number: H)
OLAM INTERNATIONAL LIMITED (Incorporated in the Republic of Singapore) (Company Registration Number: 199504676H) PROPOSED ACQUISITION OF THE GLOBAL COCOA BUSINESS OF ARCHER-DANIELS- MIDLAND COMPANY 1.
More informationSJ Securities Sdn. Bhd. Fair Value RM0.65 (+25.0%) Investment Highlights
Update Report 25 March 2010 PP7084/11/2006 Strictly for internal circulation only Rexit Berhad SJ Securities Sdn. Bhd. Buy Fair Value RM0.65 (+25.0%) Stock Data Price (RM) 0.52 Stock code 0106 Bloomberg
More informationIPO Report KIM TECK CHEONG BERHAD MERCURY SECURITIES SDN BHD SUBSCRIBE ACE MARKET. Initial Public Offering ACE Market TRAD/SERV
MERCURY SECURITIES SDN BHD (A Participating Organisation of Bursa Malaysia Securities Berhad) KIM TECK CHEONG BERHAD Initial Public Offering ACE Market IPO Report Monday, 2 November, 2015 ACE MARKET TRAD/SERV
More information( K) Annual Report 2017
Annual Report 2017 (646226-K) TABLE OF CONTENTS CORPORATE SECTION Corporate Information 02 Corporate Structure 03 Financial Highlights 04 Directors Profile 08 Profile Of Key Senior Management 11 Management
More informationINVESTOR PRESENTATION
INVESTOR PRESENTATION HALF YEAR 2010 CONTENTS 1 PERFORMANCE HIGHLIGHTS HY 2010 2 ENVIRONMENT HY 2010 3 P&L & B/S DETAILS HY 2010 4 MATERIAL COST DEVELOPMENT 5 OUTLOOK 2010 6 QUESTIONS & ANSWERS 1 PERFORMANCE
More informationLotte Confectionery (004990)
Company Note May 9, 211 Lotte Confectionery (499) BUY (Maintain) TP: W2,, (Up) KOSPI (May 6) 2,147 Stock price (May 6) 1,67, Shares outstanding (mn) 1.4 Market cap (USD mn) 2,19 52-Week Low/High (won)
More informationFraser & Neave Holdings Bhd. Analysts Briefing 9 Nov 2012
Fraser & Neave Holdings Bhd Analysts Briefing 9 Nov 212 Financial highlights Group revenue & PBIT down 17% & % respectively due to : Coca-Cola business cessation Thai floods Timing of property launch Higher
More informationIOI Corp IOI MK Sector: Plantation
Focused on lifting of RSPO suspension IOI is focused on taking corrective actions for early lifting of the RSPO membership suspension. We believe a prolonged suspension will have significant impact on
More informationMEDIA PRIMA (HOLD, EPS )
MEDIA PRIMA (HOLD, EPS ) INDUSTRY: NEUTRAL EARNINGS EVALUATION 3Q results: Cost control lift earnings Results 9MFY13 core PATAMI grew by 11% to RM150.7m (13.81 sen/share), making up 75% and 70% of ours
More informationNegeri Sembilan Oil Palm Berhad
INITIATING COVERAGE 16 November 2017 Negeri Sembilan Oil Palm Berhad Net cash of RM124.1 million, or RM1.77 per share Conservatively run and fairly unexciting Replanting on-going; high ratio of old and
More informationFY2017 Supplemental IR information
FY217 Supplemental IR information (FYE March 218) May 8, 218 FUJI OIL HOLDINGS INC. Table Of Contents 1 Consolidated profit and loss summary 3 2 Key points of financial accounting 3 3 Operating profit
More informationLafarge Malaysia LMC MK Sector: Building Materials
A tough year Weak domestic demand and oversupply of cement has put pressure on average selling prices (ASPs). Coupled with disappointing 2H16 results, the year looks gloomy for Lafarge. Profit margin is
More informationNeutral. Decent Dividend Yield. Industrial - Engineering & Construction Target Price: SGD3.01 Market Cap: USD2,876m Price: SGD3.22
May-12 Jul-12 Sep-12 Nov-12 Jan-13 Mar-13 Vol m Results Review, Neutral Industrial - Engineering & Construction Target Price: SGD3.01 Market Cap: USD2,876m Price: SGD3.22 Decent Dividend Yield Macro Risks
More informationFELDA GLOBAL VENTURES HOLDINGS BERHAD
FELDA GLOBAL VENTURES HOLDINGS BERHAD Financial Results Briefing 2 nd Quarter for the Financial Period Ended 30 June 2017 Presented by: Officer In-Charge Interim Chief Financial Officer 30/08/2017 DISCLAIMER
More informationMarket Access. Results Review 1Q FY17. M&A Securities. Hartalega Holdings Berhad. Record Sales with Lower Margins BUY (TP:RM4.
M&A Securities Results Review 1Q FY17 PP14767/09/2012(030761) Hartalega Holdings Berhad BUY (TP:RM4.78) Wednesday, August 03, 2016 Record Sales with Lower Margins Results Review Current Price (RM) New
More informationNo Boundaries Only Possibilities
No Boundaries Only Possibilities 1 MegaChem Limited Results Presentation Half Year Ended 30 June 2010 2 Industry Overview Value and Profitability Industry Positioning Specialty Chemicals Commodity Chemicals
More informationMMC MMC MK Sector: Utilities
Weakness continues into 2Q MMC reported a lacklustre set of earnings for 1H17, as PATAMI of RM118m (-3 yoy) was below expectations. 1H17 results constituted 22% of our and consensus full year forecast.
More informationMarket Access. Results Review 4Q FY16. M&A Securities. Hartalega HoldingsBerhad. Double-Digit Growth amid Challenging Times BUY (TP:RM4.
M&A Securities Results Review 4Q FY16 PP14767/09/2012(030761) Hartalega HoldingsBerhad BUY (TP:RM4.78) Wednesday, May 04, 2016 Double-Digit Growth amid Challenging Times Results Review Current Price (RM)
More informationCompany Presentation 3Q and 9M 2016 Results. 28 Oct 2016
Company Presentation 3Q and 9M 2016 Results 28 Oct 2016 Presentation Outline 1 Plantation Highlights 2 Financial Highlights 3 Strategies and Expansion 4 Appendix 2 Plantation Highlights 3 Planted Area
More informationMRF BUY. Performance Highlights. CMP `9,407 Target Price `11,343. Company Update Automobile. Key financials
Company Update Automobile February 22, 212 MRF Performance Highlights Y/E Sept. (` cr) 1QSY12 1QSY11 % chg (yoy) 4QSY11 % chg (qoq) Net sales 2,875 2,167 32.7 2,62 9.8 EBITDA 258 243 5.9 181 42.6 EBITDA
More information