As expected, the Q1 revenue of RM247mil is even lower than 2019 pre pandemic RM367mil.

Q-o-Q revenue doesn't look impressive where sale price avg below USD100pbl.
Now crude oil is aleady below USD90 pbl in anticipation of next year's recession and more China cities lockdown.
My opinion, it's all but over for crude oil rally.

Msia glove producer will have limited exposure to China's usage as their own local glove producers eg: Blue Sail Medical & Intco Medical are doing a good job at ramping up the capacity for their own market.
In fact, it's already contributed to global oversupply.

Inari really needs to filter the background of CFTC of China since Dnex issue with china counterpart as well.
Hope for more clarification from the next AGM.

Earnings already expected to do well in the last 1-2 quarters with heavier rain fall till end september.
Probably, market sentiment is gloomy.

Wow.
Didn't expect such a huge miss in revenue.

Earnings would likely normalise to pre-pandemic level next quarter onwards.
Higher inflationary pressure together with impending slower growth next year, will likely dampen consumer spending.
Recovery may return once globally inflation issue sorted out.

https://focusmalaysia.my/maybank-trims-hartalegas-target-price-on-concern-of-more-losses-underway/

Current Q result with net profit of RM28mil goes back to 2009/2010 earnings.

Q3 results coming soon.

https://www.nst.com.my/business/2022/11/845990/farm-fresh-jomcha-plans-300-outlets

@neohts
Nvm.
I'll just wait for the next AGM to prompt the question of contingency planning and business continuity planning in the event it's operation in Taiwan ceased.
It'll be good to know if they are to switch to serve other foundaries in Msia, S'pore, South Korea ,etc from their factory in Kulim, Kedah

@neohts
Good Q3 earnings.
The only concern is key risk of China threats of taking over Taiwan soon.
Any thoughts to share?

Youtube link with Siti Nurhaliza for Growing Up Milk
https://youtu.be/jduapL5v2_k

Hopeful for better revenue growth and PAT% growth with price hike and new products eg: growing up milk launch.
https://www.farmfresh.com.my/growing-up-milk/farm-fresh-grow/

Supermax warns of 'bumpy' quarters on glove oversupply, low demand
https://www.theedgemarkets.com/article/supermax-warns-bumpy-quarters-glove-oversupply-low-demand

Hopefully next year have some news on removing the china covid lockdown policy to
Need a new president for China and US with new and open mindset for covid restrictions and open economic competition respectively.
It's only in this way that semicon biz can grow without obstacles.

Betamek's 94% biz comes from Perodua.
MBMR Resources which owns portfolio of cars eg Perodua, Volvo, Hino,etc generates revenue of rm1.8bil to rm2.3bil with market cap rm1.1bil to rm1.3bil since in the last 10 years.

Any thoughts for betamek to grow larger than it's client in terms of revenue or market cap in the future???

In my opinion, it's just a car accessories manufacturer.
Low tech assembly that gets hype up to be EMS.
Nothing great abt the products.

How Taiwan is responding to Xi Jinping's latest move
https://www.youtube.com/watch?v=xWd32FohjfI

Seems major shareholder paring down their stakes by 1.5% to someone.

Looking for more clues in the China Party Congress this week.

A technical rebound only.
Currently, utilisation is less than 50% as per management guidance and existing inventory are being sold lower than USD20 per 1k due to pressure for China players.
Customers are still holding on average 6 mths of inventory depending on sector.
On top of current labor cost increase from 1.2k to 1.5k and surge in energy cost by 25% in Q2 2022 as mentioned by Gas Malaysia, will likely push makers towards heavier loss in coming quarters.

It's biggest revenue contributor which is the industrial chemical represents 70% of total revenue but only achieve 1.7% profit margin. A 10% drop in ASP due to weaker crude oil will likely push it to losses of more than 5%.

Whereas the agricultural chemical has a 14% profit margin but contributes only 30% of total revenue.
Preferably, the management should spin off the agrichemical biz to achieve better valuation via independent entity or IPO.

https://klse.i3investor.com/web/pricetarget/research/64946

Inari Amertron - Risks Linger, Unfavourable Market [RHB-OSK]
There could be a lingering risk from the supply of wireless components to the major smartphone brand via INRI’s largest customer – the current contract expires in mid-2023 – if a further deal cannot be reached or there is a reduction of contracted components. Should this key customer opt for an end-to-end solution (front-end and back-end) made available by closest competitor Qualcomm or successfully develop its own in-house solutions, this may post a significant earnings risk to INRI.

@beinvested
Supermax's cash will be depleted to less RM1.4 bil by 2Q 2023 after the completion of US factory.

TSMC which is Frontken's largest client drop 8% in TAIEX
Now trading at PE 14, which is less than half of Frontken's PE

Taiwan's clock is ticking once China's Xi enters third term, says Vivek Ramaswamy
https://www.youtube.com/watch?v=f3mqJadN5LY

https://www.theedgemarkets.com/article/mynews-unit-gets-windingup-petition-over-rental-dispute

Got some news that surface a few hours ago leading to today's drop
https://www.theedgemarkets.com/article/apple-ditches-iphone-production-increase-after-demand-falters

CEO sells 4 mil shares.
Sometimes really don't understand what he's thinking.

Any comments regarding the contingency planning for the company in the event of full scale invasion by china into taiwan.

https://www.theborneopost.com/2022/08/04/press-metal-profits-impacted-by-carbon-anode-price-hike/

Looks like WTI and brent crude oil price already stabilize between the range of USD82 to USD95.
Very unlikely to test the USD120 level as shale producers globally are doubling down on drilling efforts.
The wildcard will be China and whether there is a possible of full reopening in Q4 2022.

@flyguye
If it's approved next year H1.
Approval still require tendering to prospective airlines.
2023 likely a recession year, cost cutting measure will likely be in place for most airlines, on top on reduce travel spending among customers, may lead to delay implementation by airlines too.
Yup, just my 2 cents.

The better earnings performance in 2021/2022 was attributed by the tax exemption mechanism introduce by gov. Afterall, the gov was trying to revive the automotive industry that was almost dying during 2020. Moreover, the deadline of the tax exemption ending June 2022 was a major final push for customer to placed their orders, with backlogs now till end 2022 with spillover into Q1 2023. As MY TIV is hovering 600k the last few years , introduction of EV will not increase the TIV. A such, the company's earning would normalise towards 2019 pre pandemic earnings. On top of that, most customers had purchase their new vehicles in 2021/2022 would not purchase another vehicle within the next 2-3 years with the current economic conditions. Looking towards US, Europe and Japan, etc, a major recession is expected in 2023 onwards, would very much confirm the outlook of the company's earning back to 2019 pre pandemic.

First time in history ,Topglove made losses.

Why major shareholder start to sell?

2022-09-15

MR LAU CHEE KHEONG (a company director) disposed 5,500,000 shares at 3.940 on 14-Sep-2022.

2022-09-15

DATO' NG CHAI ENG (a company director) disposed 5,500,000 shares at 3.940 on 14-Sep-2022.

https://www.insage.com.my/Upload/Docs/FFB/FFB%20Presentation%20for%2011th%20AGM%202022.pdf#view=Full

@BatteriesNotIncluded
Don Sahong took 4 years to built the 4 turbines, is given 25 years to operate before transferring to owner.
With cost to built at RM1.7 bil, this hydropower able to generate at least RM459mil cashflow per annum based on 80% of the 256MW at USD6 cent kwh.
By the way, plantation PAT% for most efficient planter range between 10%-15% due to fertilizer cost, labour,etc. These input cost tend to increase overtime as compared with hydropower where water is free resources and able to attain PAT% of 50% to 60% if the management cost control is good.

@Wan Mohd Farid Wan Zakaria
You are right that the stock is oversold currently.
However, you've missed a key point.
The glove biz is no longer an Oligopoly biz anymore. Even property developers can enter this industry in just 12-18 months, not to mentioned China's player ability to scale faster than anyone. Without any competitive edge or high barrier to entry, glove players are leaning towards monopolistic competition which doesn't demand a premium price to earnings. Besides that, most of the still relies heavily on manual labours which ESG rating could prove a challenge. Glove players are also price takers of raw materials which also makes them vulnerable. In summary, I believe you should focus on your academic skill set.

@PassionateInvestor
The price hike applies for July and August and will be reflect in next quarter results. It’s mentioned clearly in the news media and quarter report as well. Besides that, the input cost will normalised towards years end most commodities prices are coming down. Best part is price for FFB products will not adjust lower when input cost is dropping.

@rattynz

It has short term debts of RM364mil and long term debt of RM193mil. Total debts is RM557mil.
Refer to QR at pg 55

Major oil producers worldwide declaring huge profits and dividend.

Current ratio don't look too good.
No dividend payout says it all.

@NoTimeToTrade
Yup, agreed
Provided taking on more debts to more fuel revenue and profit growth.
Eg: 53% more debt with revenue & profit growth of 80%.

@James_Bond
The unpaid SST tax amounts to RM100mil, likely compounded with penalty% the longer it's delayed.
Hopefully, the company and state gov can have an amicable solution.

However, most of i3 members here are day traders not investors, one day in, next day already out with the plan to buy low and sell high.

RM243 million borrowings in USD.
Short term and long term borrowings as at 30-june 2022 grew 53% and 54% respectively as compared with 31-dec 2021
Revenue grew 16% and net profit decline 42% y-o-y.
Using debt to fund expansion?

Equipment details in SAM Berhad website >equipment matched SFPTECH IPO Prospectus > Major Customers

Expected Q4 dividend to reach 3.8c
Expected total for 2022 will be 7.4c

At 10% dividend growth per annum,
Expected total dividend for 2023 will be 8.1c
Expected total dividend for 2024 will be 9c
Expected total dividend for 2025 with 5th turbine contributing additional 20% capacity, will be 11.9c

Any thoughts?