From a ROE perspective, the performance has been declining since 2019. I am not sure we will see better results for the next few years given the current economic situation

Stock price over the long term reflects the business performance. I would rate this company performance as good. From a global perspective, the company pass my screen test. My test is to compare the past 10 years ROE with my reference companies - New Toyo and Canone. For details of New Toyo go to https://www.moomoo.com/community/feed/110845519265798?global_content=%7B%22promote_id%22%3A14079%2C%22sub_promote_id%22%3A25%7D

The company has a very volatile ROE. This is makes it challenging to determine its fundamental value for a long term fundamental investor

My thesis is that with the rise of online sales of physical goods, the demand for packaging materials would be better. That is why I am screening for companies in this sector to dig deeper. My screening process involves looking at the historical ROE relative to my references - New Toyo and Canone. Relative to these 2, PPHB ROE was more stable. For details of New Toyo go to https://www.malaysiastock.biz/Blog/BlogArticle.aspx?tid=26870

A lot of property developers in Malaysia has tons of land bank. The issue is whether they have the financial resources to see through the challenges few years ahead. At this stage look for financial resilience rather than development potential

If you have a comparative ROE that does not show a clear winner (as per the link https://i.postimg.cc/XvtJhw9P/ORNA-New-Toyo.png), would by consider ORNA as a company for further investigation? My screening process is to compare the historical ROE with those of my reference companies. The reference companies are those that I have done detailed analysis. I figured that if a target company ROE does better than my reference, it is worth a deeper look. But what happens if it looks like the ORNA case? I have shared the details of one of my references – New Toyo but have not done so for Canone. For an overview of New Toyo go to https://www.youtube.com/watch?v=zuL2PB7Kwkg

Over the past few years, the ROE of this company has gone below 10% despite growing revenue. Has it lost control of its gross margins? Not a good sign

Master perforance has been improving and over the past few years its ROE have gone beyond 10% and even surpassed my two reference packaging companies - New Toyo and Canone. You should not be surprised by the up-trending share price. As a fundamental investor, the question is whether you have missed the boat. For details of New Toyo refer to https://seedly.sg/posts/new-toyo-international-a-cigar-butt-investment-opportunity?utm_source=question_share&utm_medium=internal

If you are a long term fundamental investor, you would be looking at the performance over the decade as the results for a particular year can be misleading. Those who went into this company because of its Covid-19 results will know what I mean. So the question is whether last year returns is just another bad blip or a reflection of its future?

I would give this counter a thumbs down as its ROE over the past decade is not as good as my reference companies. In the packaging sector, companies differ by products and the industry they serve. So no 2 companies are alike. So when I screen for companies, I look at ROE with reference to some based companies that I have analyzed in detail. Then when I do the screening, I have a better feel of whether the target company is a better choice than my base. In the case of the packaging sector, by bases are Canone and New Toyo https://www.youtube.com/watch?v=zuL2PB7Kwkg

From a fundamental perspective the returns of the company has been pretty decent post Covid-19. But I think this is more of a commodity price play than a stock price play

This counter is classified as part of the packaging sector. Unfortunately its past few years ROE is worst compared to my base case of New Toyo and Canone. Actually its ROE has been negative for the past 5 years. You should not be surprised by its share price performance. For details of New Toyo go to https://www.moomoo.com/community/feed/110845519265798?global_content=%7B%22promote_id%22%3A14079%2C%22sub_promote_id%22%3A25%7D

I think the whole idea of privatizing is that it is a private company ie no longer listed.

This is a relatively new packaging company in that it has only about 4 years of history as a listed company. It started with a high ROE which has been declining since then. While its ROE was higher than those of New Toyo (https://www.malaysiastock.biz/Blog/BlogArticle.aspx?tid=26870) or Canone, I wonder how it would perform in 5 years time.

If you track YTLPOWER return (ROE) over the decade, you will find that it was declining from 2014 (Jun) to 2021 (Jun). But since then it has been up-trending so that for Jun 2023, it was a record high for the decade. Are you surprised that its stock price has been going up?

No two companies are alike. Even if they are classified into the same sector, there are differences in products and markets. That is why I avoid relative valuation using PE or other multiples as it can give a wrong picture. If you are going to compare companies then compare business performance. When I compared IQZAN with my packaging benchmark such as New Toyo or Canone, I found that IQZAN performance was the worst. Not exactly a good picture from a fundamental perspective. For a quick video take of New Toyo go to https://www.youtube.com/watch?v=zuL2PB7Kwkg

Is something happening in the packaging sector? I have been posting comments on a number of Bursa Malaysia packaging companies recently and noticed that these articles received very much more views than normal. For those of you who are speculation, maybe this is some input you can use. Anyway to continue with my screening of packaging companies, I found the DNOUNCE does not meet my criteria is its past 10 years of ROE was lower than that of New Toyo or Canone. For a quick overview of New Toyo go to https://www.youtube.com/watch?v=zuL2PB7Kwkg

From a fundamental perspective the ROE of the company has been up-trending for many years. The issue is not whether this is a fundamentally sound company. It is. The more important question is whether the stock price is trading higher than its intrinsic value. If it is then it is not an investment opportunity. Of course it boils down to valuation but this is a another story.

We now know why the price spiked recently. It was related to the quarterly results that showed sustained earnings. Of course the negative part was that the announcement also said that the next quarter results may not be so good as there are no longer festive seasons. The more important point is whether the results point to improved performance from China. Are we seeing the light at the end of the tunnel?

The acquisition of BPlant by KLK suggests that the value of plantation companies lie in the assets rather than the earnings power. By this metric, TDM is undervalued. But to realize its true value it has to dispose of the estates. Irony?

Is the value of plantations companies in its assets or its earnings power? The acquisition by KLK suggest that we should pay more attention to the assets. The sad new is that I have left lots of money on the table for this company. Go to https://www.moomoo.com/community/feed/110947456516102?global_content=%7B%22promote_id%22%3A14079%2C%22sub_promote_id%22%3A25%7D

It is sad but while oil prices have been high, the Bursa oil and gas services companies have not really benefited from it

I am using the same approach for all the packaging companies I am screening ie look at the ROE relative to those of New Toyo and Canone. I have a chart that shows the ROE of CYL relative to the 2 reference companies. You can see why I don't think it passes my screen test. https://i.postimg.cc/htF80nY6/CYL-vs-New-Toyo.png

If you look at the ROE it has been fantastic for last year with 73%. With such a return why is it facing its current problems? Are the numbers not real?

Check out this YouTube analysis of the furniture sector https://www.youtube.com/watch?v=J--jjPbrc6I

Over the past 10 years, TGUAN delivered an average ROE of 10%. A valuation also showed that there is some margin of safety. Moral of story? Worth digging further. For more insights go to https://www.moomoo.com/community/feed/110935999512582?global_content=%7B%22promote_id%22%3A14079%2C%22sub_promote_id%22%3A25%7D

You would have thought that the company would have done some due diligence before buying Pestech. So are there more to the Pestech story? If there is not and is a failure of due diligence, we should be wary of further acquisitions

I think Bright Packaging business is very similar to that of New Toyo. I thought New Toyo was challenging but Bright seems worst from a comparative ROE for the past few years. If you want to know more about New Toyo go to https://www.moomoo.com/community/feed/110845519265798?global_content=%7B%22promote_id%22%3A14079%2C%22sub_promote_id%22%3A25%7D

Over the past couple of months, the Bursa bank stocks seems to up-trending. But when I compared the LTM PBV or PE for the same period I do not so see the uptrend pattern. One way to interpret this is that the asset value and earnings have also increased in tandem with the stock price. So the real question is whether the price is reasonable. Looking at PE and PBV are starting points. Dig deeper. https://www.malaysiastock.biz/Blog/BlogArticle.aspx?tid=26900

I happened to know the shareholder and I disagree that it is all hype. Sure all companies make a song and dance about new ventures, etc. But the company has been in the market for a long time.

The market is very negative towards the property counters with many trading below its book value. So you should not be surprised by MKH price

Parksons' performance is very dependent on what happens in China. Just when you thought that China was going to do well, we now have negative news about the property sector, its economic management etc.

BPPLAS ROE averaged 11% over the past 13 years. It went up to 21 % in 2021 but came down to 12% in 2022. I would think that it would hover around its past 13 years average in the future. So if there is no change in returns, why would the market price change?

Over the past 5 years, the ROE was below 5%. There are signs of the ROE reaching bottom in 2020. But last year it was still around 2%. Not exactly an exciting return

This is a tough sector as my ROA analysis of 23 Bursa packaging companies showed that most are under 10%. Refer to https://i.postimg.cc/13qN4rZ5/Packaging-sector.png. Also when I compared Box Pak with New Toyo both showed declining ROE. For details of New Toyo, refer to https://www.youtube.com/watch?v=zuL2PB7Kwkg

The ROE of the company has been declining over the past 10 years. While I do not doubt that Malaysia is a good market for environmental services, the company does not seem to be able to make money from the market. Do you focus on the market potential or the ability of the company to make money?

The company has been experiencing decline ROE since 2016 and was negative last year. Construction companies tend to be projects driven. There has not been any major project wins for a some time. So how will it deliver double digits returns?

Over the past 13 years, DPS achieved an average ROA of negative 4% compared to the Bursa furniture sector average of 5%. Refer to https://www.moomoo.com/community/feed/110766220443654?global_content=%7B%22promote_id%22%3A14079%2C%22sub_promote_id%22%3A25%7D. The bulk of the improvements for DPS came in the last few years. I guess that it the rationale for the rights and bonus.

The challenge with REITs is not the current yield. It it how the REIT is going to grow over the next few years. If they are thinking of issuing more units, then it will dilute whatever earnings they have.

The company had an average negative ROA for the past decade. The majority of the negative ROA occurred over the past few years. Considering that the Bursa Furniture sector had a average ROA of 6 % over the past decade, there are better choices from a fundamental perspective. Refer to https://focusmalaysia.my/covid-19-doesnt-affect-performance-bursa-malaysia-listed-furniture-companies/

Historically the company delivered > 50% ROE. Last year was a bad one with 12%. But at 12% it is much better than most Bursa companies. The question is whether you believe that the business fundamentals has changed so that the historical performance is no longer valid or whether last year was an anomaly.

When you compare the ROE for Advance with those of New Toyo and Tien Wah Press, you will see that the ROE for all has been declining since 2011. It is a tough sector. New Toyo seems to deliver better returns. Looking at Tien Wah is not realistic as this is controlled by New Toyo. Refer to https://www.malaysiastock.biz/Blog/BlogArticle.aspx?tid=26870

The company seems to have turned profitable over the past 3 years. How much of this was due to the plywood business?

NGGB, which has a printing arm, has a much more diverse business that New Toyo yet both achieved about the same average ROE for the past few years. But New Toyo revenue is much larger and possible more stable, Refer to https://www.moomoo.com/community/feed/110845519265798?global_content=%7B%22promote_id%22%3A14079%2C%22sub_promote_id%22%3A25%7D. So is it better to be diversified like NGGN or focussed like New Toyo

The performance of large companies do not change over night. Think of it as a big ship. When the captain turns the steering wheel in a big ship, it will travel for about 1/4 km before you see the ship turning. The same analogy applies to large property companies. What you see today are what they did a year or two ago. What they do today will only translate into results in the coming year or two

When you compare CFM ROE with that of Tien Wah press, you see similar low or negative returns over the past 6 to 7 years (ignoring the CFM 2022 one off returns). You can say that this is a terrible sector to be in. But if you are looking at Tien Wah, I would think it is better to look at New Toyo its parent company. Refer to https://www.malaysiastock.biz/Blog/BlogArticle.aspx?tid=26870

The ROE is less than what you could get by keeping your money with the EPF. So this is not an investment for the fundamental investor. But if you are in for the goreng, it is a different story

Both MTAG and Tien Wah are in the print packaging business. But when you compare the ROE over the past 7 years, you will find that MTAG did better than Tien Wah. But Tien Wah is a 45% subsidiary of New Toyo International and is not exactly an independent operations. Refer to https://www.moomoo.com/community/feed/110845519265798?global_content=%7B%22promote_id%22%3A14079%2C%22sub_promote_id%22%3A25%7D. Can this be the reason for Tien Wah lower ROE?

From a fundamental perspective, the company has been having negative ROE for many years. Until it can turnaround, you should be careful about any investment. Of course, if you are just in for the goreng, it is a different story

This is a 45% subsidiary of New Toyo International a SGX listed company. I am not sure whether you can separate Tien Wah operations from those of New Toyo. As such I prefer to look and consider investing in New Toyo rather than Tien Wah. Refer to https://www.malaysiastock.biz/Blog/BlogArticle.aspx?tid=26870