cpng, great info.

seasonal factor?

2015 - 206,747,000 (first 3 months)
2014 - 857,083,000 (+33% compared previous FY)
2013 - 640,365,000 (+30%)
2012 - 493,647,000 (-2.7%)
2011 - 507,561,000 (+9%)
2010 - 465,080,000 (+31%)
2009 - 353,478,000 (-25%)
2008 - 472,571,000 (-14%)
2007 - 549,303,000

I do not know if these figures consider a sudden surge to you?

still chasing ?.....good luck

EY is below 10% when share price touch RM 1.00. Time to decide to hold or to sell. Perhaps this is the only factor that we can control. Other uncontrollable factors "will take care of itself". Happy investing.

Mr OTB, a little tedious but it gives better clarity. Cheers!

http://www.channelnewsasia.com/tv/live

Rest In Peace

I think the price now is reasonable. Is a reasonable buy, not a bargain buy.

already a little expensive at current price even with TTM's result.

Mr Tan, kindly add Fiamma finan dividend of 6 sen per share. TQVM

on 12-03-2015
[(3.44 - 3.20)/3.20]*100 = 7.5% (attractive)

Mr Tan, kindly add 3.8 sen per share dividend ex 10 March 15 for Coastal

for inarian that still hold, congratulation! At least for now...hopeful for future. Cheers!

Warrant holder perhaps need to pay attention..at least for now.. happy investing

As for EPF, hold 5.1%...pre disposed 36,417,537...after dispose 902,250 ( about 2.5%)..still holding 35,515,287...

Yang berhormat tengku hajah is not subs. share holder. Disposed 100 k share via open market. However, noted she hold the chair lady post..not managing or executive post

For mai lee, disposed 666,000 warrant via open market

For mr ho, disposed 950,000 warrant via open market, but 3,000,000 shares via direct biz deal

Above refer to dato sri thong

Just compared share and warrant holding post rights 25th feb with latest annoucement

disposed warrant in insas tech 13,221, 276..then acquired warrant into media lang 10,341,276 , then dispose share in media lang 2230048 Via direct business transaction...

0.0001% +/- deviate from 5% can made made u a substantial or ceased to be substatial shareholders.

Unless i read the announcements wrongly

Do note that the disposal are mostly warrant. Since most warrant A had been converted prior to rights, warrant B at high premium, disposal is reasonable

at share price of RM 1.89, the earning yield is only at about 4%...which is far from usual 10% (minimum)

The PER is simply too high when it touches 2.19 especially after the bonus issue. It was close to 30 times. Price up, Value Down. I3's data need some times to consolidate the bonus issues. At current 1.86 share price, it shows PE at 21.16. But The Edge financial dash board PE is 24.99. Please take note this in case you are not aware. Thank you

azlan88, noted with thanks. Cheers!

Point 3 especially interesting.

Mr Tan, Kindly add 0.02 sen per share of dividend for Scicom which ex on 23 Feb 2015. Thank you

Mr Tan, Kindly add 0.03 sen per share of dividend for CBIP which ex on 13 Jan 2015. Thank you

bsngpg, my very personal opinion as i didn't study vitrox. But one glance on their financial report for the past 5 years is good. income statement, balance sheet and cash flow.

I refer to The Edge financial dashboard, vitrox has fundamental score of 3.00, which is better than Inari at 2.7. However, the valuation of its may be less attractive at their category. Comparable one is elsoft which have 3.00 score at fundamental. Both vitrox and elsoft have valuation of 1.5. i.e. compare inari & Gtronic at 2.1, i opted more for inari. Hopeful for future smart device development for Inari too.

Vitrox PE is now at about 20 times..higher than inari as well.

Perhaps Vitrox need to be more generous with their Dividend too. A bit stingy.

Just my very basic comparison.

This is my Stock Pick for 2015 at 2.83. I have holding at below that

truthseeker, actually, i dont know how to answer your question.

Mr Tan, kindly add in Inari ex dividend 16 Feb 15. 0.023 per share.

Thank you

apini, i refer this to myself. I dont use future, to predict future's future.

From the valuation report, PADINI has been establishing a "investment feasibility stadard" at approximately 200% to 250% of Revenue Over Capex for the past 8 years. Just predicting, the target revenue for upcoming quarter should be around RM 230 million to RM 280 million.

just check through same quarter 2013, sales RM 53,150,000 and profit RM 8,800,000.

Therefore, Revenue drop 14.5%, profit drop 18% from corresponding quarter.

walau2u, correct me if i'm wrong,

just check through Wingtai quarter report, from RETAIL SEGMENT, the revenue compared to preceding quarter has grown from RM 40,807,000 to RM 45,426,000 or approximately +11.3%.

The profit compared preceding quarter for RETAIL SEGMENT has grown from RM 4,929,000 to RM 7,217,000. or approximately + 46.4%

#win2win,

I personally think management is working very hard to bring in every dollar or sales/ money, rather than die die want to hold to the margin. This is typical sales procedures, lower margin, higher sales, or vice versa. Nothing wrong.

Is like an old question from a staff of mine to me: Boss, you want money or not?

#Apini, since nobody can tell the future, i think is fairer for investor to judge the company's past and trying to predict the future. No use the furure, to predict future's future.

Mr KCChongnz always mentioned that valuation is an art, rather than science, i suppose different people has different valuation judgement.

My very personal view based on my risk appetite, currently Padini is trading pretty fairly. But my "fairly" can be expensive to some if they are pessimistic about upcoming retail market pre - & post - GST.

Imaging those days when PADINI traded at RM 2.00, is it because of investor too optimistic? or Too greedy?

How about now, it seems many are fearful.

Since the share investment fundamental is still a zero sum game, the share price will sure reflect the value of the company one day. It cannot appear/ disappear suddenly from thin air.

By the way, i usually treat dividend as bonus. Just my humble opinion. Cheers!

Market Value (Share Price) Generation per $ EPS Retained
0.37 1.02 0.51 0.54 0.70 1.11 1.0563 1.0221

@ 8 years Average: 0.79

Target Price (1)
0.79 x 1.9274 = RM 1.52 # (current RM 1.45 is pretty fair price)
------------------------------------------------------------------------------------------
@ latest 3 years average: 1.06

Target Price (2)
1.06 x 1.9274 = RM 2.04 # (based on up to Jun 2014 cummulative's EPS)
------------------------------------------------------------------------------------------

By using TTM EPS,
0.79 x 1.9142 = RM 1.51 # (current RM 1.45 is pretty fair price
1.06 x 1.9142 = RM 2.03 (based on TTM's cummulative EPS)

Current Ratio
2.92 2.07 2.52 2.37 2.54 3.16 3.54 2.83

Debt To Equity Ratio
0.37 0.56 0.42 0.52 0.57 0.42 0.38 0.47

Asset Turn Over
1.6189 1.6664 1.7133 1.6094 1.4196 1.5614 1.59 1.60

Receivable Turn Ratio (days)
30 27 24 23 23 22 23 22

Inventories Turn Over (times per year)
2.56 2.14 2.33 3.08 2.24 2.06 2.50 2.55

Free Cash Flow (FCF)
3,078,000 -27,491,000 40,488,000 67,823,000 -26,832,000 -2,740,000 145,492,000 10,328,000

Inventories Over Revenue
20.21% 30.29% 19.32% 14.70% 30.07% 26.58% 18.22% 25.64%

Net Receiveable Over Revenue (%)
8.19% 7.88% 6.95% 6.25% 6.94% 6.61% 6.28% 6.37%

Dividend Payout Ratio
103.14% 47.30% 37.19% 9.71% 34.75% 41.12% 62.06% 83.21%


Revenue Over Capex
13.11 11.74 21.17 20.28 22.99 26.96 48.99 20.81

Net Income Over CAPEX
1.30 1.28 2.20 2.37 3.02 3.58 5.30 2.18

Capex Requirement (%) per dollar net earning
76.88% 78.22% 45.35% 42.13% 33.12% 27.95% 18.87% 45.79%


Retained Earning contribute to Total Equity (%)
53.80% 61.18% 67.76% 71.92% 76.73% 80.66% 82.32% 83.03%

Share Capital Contribute To Total Equity (%)
46.12% 38.82% 32.24% 28.08% 23.27% 19.34% 17.68% 16.97%


Current Asset to Total Asset
72.61% 71.84% 72.07% 74.13% 78.71% 78.84% 80.50% 79.00%

Return of Asset (%)
16.06% 15.80% 17.04% 17.10% 16.80% 19.90% 16.67% 15.98%

Return of Invested Capital (ROIC) (%)
31.13% 26.71% 31.64% 53.30% 37.32% 38.18% 44.30% 33.41%

Earning Yield (Magic Formula) (%)
346.25% 45.59% 105.92% 129.80% 14.80% 11.25% 10.27% 13.27% (based on 1.45 share price)

PE Ratio using Magic Formula
0.29 2.19 0.94 0.77 6.76 8.89 9.74 7.53 (Value Seen Here!)

DuPont's ROE
22.04% 24.63% 24.28% 26.02% 26.41% 28.23% 22.94% 23.45%
-----------------------------------------------------------------------------------------------------
0.0992 0.1089 0.1042 0.1171 0.1313 0.1327 0.1082 0.1049
1.6189 1.4502 1.6355 1.4608 1.2794 1.4999 1.5410 1.5227
1.3720 1.5596 1.4248 1.5217 1.5719 1.4181 1.3764 1.4675

Earning before Interest & Tax (EBIT)
44,346,000 58,428,000 69,135,000 87,374,000 106,630,000 132,977,000 119,630,000 127,935,000

EBITDA
52,392,000 70,855,000 88,826,000 109,173,000 128,962,000 153,295,000 141,812,000 151,565,000

Cash and Cash Equivalent at the end of period
52,098,000 41,664,000 65,621,000 135,025,000 138,622,000 137,612,000 206,214,000 97,450,000 137,449,000(Sept 2014)

Total Equity
142,667,000 169,478,000 204,043,000 234,332,000 282,677,000 340,109,000 372,226,000 387,664,000

Current Liability (including dividend,trade payable etc)
48,718,000 91,622,000 83,273,000 111,351,000 137,947,000 120,393,000 116,618,000 158,825,000

Non-Current Liability
4,349,000 3,214,000 3,404,000 10,899,000 23,715,000 21,803,000 23,501,000 22,401,000

Total Liability
53,067,000 94,836,000 86,677,000 122,250,000 161,662,000 142,196,000 140,119,000 181,226,000

Outstanding Shares
131,538,000 131,538,000 131,582,000 131,582,000 657,910,000 657,910,000 657,910,000 657,910,000

Share Price 31 December
0.09 0.57 0.48 0.76 1.06 1.84 1.89 1.97

Market Capitalization
11,838,420 74,976,660 63,159,360 100,002,320 697,384,600 1,210,554,400 1,243,449,900 1,296,082,700

Enterprize Value
12,807,420 128,148,660 65,270,360 67,312,320 720,424,600 1,181,795,400 1,165,019,900 1,306,065,700

Fixed Asset (P,P,E)
50,317,000 70,748,000 75,887,000 79,953,000 83,621,000 90,261,000 88,281,000 108,717,000

Total Non Current Asset
53,613,000 74,444,000 81,212,000 92,257,000 94,585,000 102,039,000 99,906,000 119,475,000

Trade Receivable & other receiable
25,949,000 30,199,000 33,064,000 32,561,000 39,433,000 47,787,000 49,609,000 55,157,000

Cash/Short term investment/ Deposit
52,098,000 41,664,000 84,566,000 154,940,000 138,622,000 170,955,000 218,549,000 171,243,000

Total Asset
195,734,000 264,314,000 290,720,000 356,582,000 444,339,000 482,305,000 512,345,000 568,890,000

PARAMETERS
06/30/07 06/30/08 06/30/09 06/30/10 06/30/11 06/30/12 06/30/13 06/30/14

Revenue RM
316,866,000 383,306,000 475,477,000 520,880,000 568,476,000 723,411,000 789,520,000 866,258,000

COGS
163,719,000 192,353,000 241,958,000 259,547,000 277,672,000 374,821,000 420,932,000 466,224,000

Gross Proft
153,147,000 190,953,000 233,519,000 261,333,000 290,804,000 348,590,000 368,588,000 400,034,000

Operating Profit Before Tax (NOPBT)
44,007,000 57,659,000 67,610,000 86,280,000 105,057,000 130,649,000 117,658,000 125,719,000

Net Operating Profit After Tax (NOPAT)
31,442,000 41,750,000 49,533,000 60,974,000 74,661,000 96,001,000 85,393,000 90,913,000


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GROSS PROFIT MARGIN (%)

48.33% 49.82% 49.11% 50.17% 51.16% 48.19% 46.69% 46.18%

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NOPBT margin (%)

13.89% 15.04% 14.22% 16.56% 18.48% 18.06% 14.90% 14.51%
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NOPAT margin (%)

9.92% 10.89% 10.42% 11.71% 13.13% 13.27% 10.82% 10.49%
-------------------------------------------------------------------------------------------------------------------

My personal interpretation:
1) Gross Profit, NOPBT & NOPAT margin were higher in year 2010 - 2012, thereafter, it stable back to lower margin as per 2008 to 2009 when market is recovering back from 2008 crisis.

2) The management has established a good proven business strategies which will ensure continuous flowing in of higher dollar revenue and profit. We can see a steady growth of Revenue and Profit for the past 7 years by altering around the profit margin.

Last night, i carried out some study on PADINI due to it current super bargain valuation. From 52-week high price of 2.13 to current RM 1.45...Approximately 32% lower (or discount?)