CLASSIFICATION: ACCOUNTING/AUDIT NOTIFICATION/ANALYSIS & BUSINESS PROJECTIONS
TYPE: Short Analysis / Reviews
13 May 2009
OIL & GAS FABRICATOR PANTECH GROUP 4QE FEB 2009 NET PROFIT HIGHER PANTECH GROUP HOLDINGS recorded marginally higher Net Profit of RM8.7m for 4QE Feb 28, 2009 compared with RM8.2m a year earlier despite Revenue surging 84% to RM139.3m from RM75.7m.
The Net Profit included a Provision of Stock Writedown of RM9.2m.
FULL FYE FEB 2009 RESULTS SHOW HIGHER PROFIT
Full FYE Feb 2009 was boosted to RM511.2m from RM313.3m compared with the previous year. PANTECH said Apr 27, 2009 that its full-year Net Profit jumped 75% to RM59.6m from RM34.1m in the previous year due to higher manufacturing output, higher sales volume, better product mix from the trading division and contribution from overseas operation.
FINAL SINGLE-TIER DIVIDEND PROPOSED
The Company proposed a final single-tier dividend of one sen per share totalling RM3.7m, bringing Total Dividend for FYE Feb 2009 to three sen per share. EPS to 15.94 sen from 9.1 sen, while Net Assets per share increased to 53 sen from 39 sen.
PROSPECT FOR 2009
On prospects for the current financial year, the Company said the duration, extent and impact of the persisting global financial meltdown were uncertain.
" .... Therefore, the Board will adopt a cautious approach to monitor the situation and mitigate any negative impact through diligent administration of operation cost controls and cash flows .... In view of the above, the board foresees the next financial year will be a challenging year for the Group ...." it said, adding that the Group's performance for the next financial year would be in line with the overall performance of the oil and gas fabrication and other services sector while the long-term outlook continued to be positive.
TARGET PRICE = 0.85sen
16 comments:
Sold 10% of keladi at 15sen. At the same time, q to buy back at 14.5sen. Portfolio now have 100% + 15% margin.
bought PANTECH at 0.77sen.
Sold 15% margin keladi at 15sen, realize all T+ 2 profit first.
Portfolio left with own 100% capital invested in keladi. I'm trying to minimize risk of taking margin line, unless is necessary.
Global market rally! Index soar another 17pts, but concentrate mainly on bluechip: PPB, MISC and Maybank are driving force.
Strategy remain, focus and concentrate just on keladi and wait for its turn to regain momentum.
was placing buy order at RM5 for MBB last friday didn;t get :(...
gone, no chasing anymore.
Concentrate on Pantech at this moment...
Invest in oil and gas related sector should be quite promising. Crude oil has soar to US67 and expect above US75 soon.
Other sector such as steel maker, plantation already too rich valuation.
i have abandone d idea to get Keladi since try few atempts but fail to get any.
Divert myself to O&G.
hng,
I see investing 100% on keladi. I look thru the company background & indeed, it is a good company. It has minimum borrowing. You did explain that u invested in it also partly due to the 1.5c dividend they will declare in their next AGM. I like this counter as well but is there any chances they will pull back the dividend. There is few company that did that before. Hope you can share your opinion. Thank you.
Steve
It is very unlikely keladi will withdraw its propose dividend of 1.5sen. Mainly due to its track record.
Last yr, Keladi even declare two set of dividend; interim 1 sen + final 1.5sen = 2.5sen. and Occasionally, declare also special dividend.
In fact, keladi is cash rich company, total net cash per share almost 5.7sen or 38% of current share price consist of cash. In addition, keladi not only is property counter but also almost 25% of its profit is from plantation division. With CPO frying high now, this division likely to contribute even more profit to its bottomline and cushion any downside from its property development.
Current share sleepy pattern render oppurtunity for investor to buy on at its weakness.
Horse
You're right! KNM share surpass RM 1, Huaan surpass 50 sen; Both now RM 1.04 and 54 sen. Those buying on these counter last week stand to profit more than 15%-20% in less than wk.
I'm also correct lah, those buy TA-WB a 0.5sen, now stand to gain 100% profit as share now trade at 1 sen. Ha!
hng,
we only dare to predict but dont dare to touch...miss the boat..haha.
nvm la, stick to keladi better, when it soar, it will touch 20sen. give u one big lump sum of profit...
Oh yes, too volatile stock definitely not my cup of tea. I must ensure all my capital are protected and defensive by concentrating on dividend yield stock. After all, this capital is my bread and butter.
Be rotation play or sectorial trade, avoid being trap in highest price, when big trader are disposing their stake.
you r right. protecting capital is utmost important than losing them.
better be slow than sorry.
my prediction didn't come true. COMPUGT set to go all d way down.
Will get delisted ?? haha
We cannot always right in prediction. As long as odd is in favor, outperform outrun underperform, the net is gainer. The rotation now seem to switch to SAAG, sooner it may become Pantech. Good luck.
Anyhow, follow investment plan, and refine it on the way to acheive goal and ensure good success rate should be priority.
No trading today.
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