By the way, who is this kns? mind to englighten...

No value is implied for Setiawangsa-Pantai Expressway, River of Life, highways to Klang and etc, property projects

Posted by Fabien Extraordinaire > Dec 26, 2017 08:18 PM | Report Abuse

why Ekovest should be in ur 2018 portfolio...a good and viable long term investment

1) Based on IWC takeover offer, theoretically Ekovest share should worth around 1.50. With the takeover of IWC, Ekovest will see an increase in landbank of at least 900 acres.
2) Duke Expressway (60% ownership) valued at RM1.7billion (based on EPF offer for the 40% stake). Ekovest current market cap is slightly above RM2billion. Do the math.
3) Strong orderbook of more than RM13billion provides earning visibility for the next 3-5 years. Today news mentioning a potential of another RM2.5bil.
Ekovest is prime to ride on the infrastructure growth in the country.
4) Catalyst to unlock its value - listing of its highway assets as REITS (potentially can fetch around RM3.5billion at a minumum)
5) In few years time, Ekovest would see more contributions from their toll businesses which will provide a stable income neutralising the cyclical nature of construction and property income. Highway operators = cash cow business.
Management has indicated a mix of construction (40%), property (30%) and toll (30%) in the foreseeable future. I see this a potential catalyst to re-rate it's valuation multiple.

As of today, Inari is 3.42.

Insas pls wake up

richdad's call is highly correlated to Hengyuan's share price

Ekovest is a good long term investment. Accumulating slowly.

why Ekovest should be in ur 2018 portfolio...a good and viable long term investment

1) Based on IWC takeover offer, theoretically Ekovest share should worth around 1.50. With the takeover of IWC, Ekovest will see an increase in landbank of at least 900 acres.
2) Duke Expressway (60% ownership) valued at RM1.7billion (based on EPF offer for the 40% stake). Ekovest current market cap is slightly above RM2billion. Do the math.
3) Strong orderbook of more than RM13billion provides earning visibility for the next 3-5 years. Today news mentioning a potential of another RM2.5bil.
Ekovest is prime to ride on the infrastructure growth in the country.
4) Catalyst to unlock its value - listing of its highway assets as REITS (potentially can fetch around RM3.5billion at a minumum)
5) In few years time, Ekovest would see more contributions from their toll businesses which will provide a stable income neutralising the cyclical nature of construction and property income. Highway operators = cash cow business.
Management has indicated a mix of construction (40%), property (30%) and toll (30%) in the foreseeable future. I see this a potential catalyst to re-rate it's valuation multiple.

any reason for the sharp increase?

the last good news i checked was Wilmar is to list their China operations in 2019.

someone bid 18.48...wow

17.48...any news?

Liihen

Annualised EPS = 43.12sen
PE ratio = 8.8x
Net cash = 45sen
ex-cash PE ratio = 7.5x (<10)
EV/EBIT = 5.65 (<7)

Pohuat

Annualised EPS = 26.11sen
PE ratio = 6.97x
Net cash = 33sen
ex-cash PER = 5.7x (<10)
EV/EBIT = 4.93 (<7)

I'm invested in both.

Liihen

Annualised EPS = 43.12sen
PE ratio = 8.8x
Net cash = 45sen
ex-cash PE ratio = 7.5x (<10)
EV/EBIT = 5.65 (<7)


Pohuat

Annualised EPS = 26.11sen
PE ratio = 6.97x
Net cash = 33sen
ex-cash PER = 5.7x (<10)
EV/EBIT = 4.93 (<7)

I'm invested in both.

Average industry PE is 9x.

TP = 0.30 * 9 = 2.70

at the end of the day, market perception also holds water...the qualitative aspects...apart from looking at the numbers the quantitative side..

not sure how is the latest news going to affect the sentiment over this stock...

u just never know how the extremely emotional Mr. market going to react

better run first thing next week...stay sideline and go in when the price stablises

korean drama indeed....why so many mishaps happening one after another.

market confidence on this counter already low...now breach of trust...really no integrity

what korean founder tangkap? care to explain..

LiiHen share price has big OBSTACLES because one shareholder, KYY keeps selling! and has many more shares to sell for him to raise cash and put all in Hengyuan

Just becareful of one investor, KYY.

From KYY - As I said in one of my articles that I would buy Hengyuan until I have exhausted all my funds. Hengyuan is a major part of my investment and I am not selling now. I want to see its full year result announcement before end of February 2018.

Read the line carefully especially the last sentence.

supermax is losing its position...long long time ago they were top 2 or 3...

political issue seems to be an overhang...we dont know what is happening behind the scene or if there are any (unseen) obstacles from u know who impacting their business operations...like it or not, business tend to do well if on the right side with those in charge

company keeps buying back shares...what does that tells you?
how is ur assessment of the management over the years? do u think they can manage the challenges effectively? will they emerged stronger? these are the questions u intuitively should have known..

price drop amid changing sentiments la...temporary or permanent decline, my bet is former...no need to crack head justifying why the share price is dropping...if u done ur work and have much conviction on ur due diligence, this is an opportunity to average down and build position size...if no more bullet, then stop looking at share price and stay away until the next quarter results to revisit ur position again...if no confidence in the company, better sell your shares then.

Looking at their increasing cash pile and FCF growth, do u think we should look at ex-cash PER instead? Of 8 times.

If takes into the consideration of their net cash balances, Pohuat forward valuation = RM2.40 + 0.30 = RM2.70.

Let's move to 1 year forward pricing.
Assuming revenue growth of 15% and net profit margin of 9%, EPS forecast for next FY amounts to 30sen.

Based on historical average PE of 8 times, Pohuat 1 year forward valuation = 0.30 x 8 = RM2.40.

FCF increased from RM14m to RM38m, an increase of whopping 166%.

FCF/share is 18sen. 8sen paid as dividend.

Net cash increased from RM43m to RM70m. Net cash per share is 33 sen (2016: 20 sen).
Latest full year EPS amounts to 26.11sen. Based on historical average PE of 8 times, Pohuat should valued at RM2.09.

Collecting Hevea more at this price.

Good results.

Well done, poh huat.

foreigners selling

or maybe sifu Raider can advise too...how to position ur potfolio for 2018?

sifu plane, your outperforming pick on KESM (last yr) and Hengyuan (this year)....any hidden gem for 2018 portfolio?

even kcchongnz is holding Insas

that's a good idea....semi-formal grouping of long term minority shareholders of Insas

we need more shareholders activism to unlock the value!!

final quarter may include special dividend

shall wait and see then. hope can end the year on the high...Insas pls add oil!!!

what is the good news?

what is Magni's forward P/E?

what is their fair P/E?

it is the mystery that even Ben Graham has no answer to...the question of WHEN

insas is a perfect example that defines value investors' worst fear VALUE TRAP

shareholders activism is the only way to unlock Insas value. very unfortunate to come to this measure. would have hope to see management taking actions to reward us shareholders.

if war breaks out in middle east, crude oil will rise sharply and that is bad news for them

please read their dividend policy carefully again

c.50% of net profit after taking into account working capital and capex requirements

i think market has lost some confidence on the management due to inadequate disclosure over the impact from water disruption in addition to 2 quarters of earnings disappointment

while noted that management has indicated q4 would be better, i rather be more careful than taking their words blindly

the business is cyclical, there are so many uncertainties impacting their profitability.. management can be wrong as well

sentiment over this counter is weak

by the way, anyone can share some info on their investment in associates.

the share of loss of their associates have increased tremendously from RM4mil to RM37mil.

yeah minutes need to be discussed at the Board and confirmed as such/amended before releasing to public

what is ur basis to think their 4th qtr able to match 3rd or better?

since listed, there has always been surprises to their earnings, water disruption, unplanned shutdown etc etc

valuations may seem cheap now but if earnings continue to slide then it may not seem to be the case

Osk owns 10% of RHB

Based on their stake, it is worth RM1,935million which is more than OSK's current market cap.