SHAH ALAM, 22 February 2017– JAG Berhad (JAG) and its group of companies (JAG Group), one of Malaysia’s leading total waste management companies by market share, today announced an unaudited profit after tax (PAT) of RM2.4 million for its 4th quarter ended 31 December 2016 (4QFY2015: loss after tax of RM3.4 million). Revenue for the quarter under review was lower at RM21.5 million compared with RM23.9 million recorded in the preceding year’s corresponding quarter.
From a cumulative perspective, the Group recorded a PAT of RM2.1million (FY2015: loss after tax of RM19.8 million) on the back of a turnover of RM82.9 million (FY2015: RM84.8 million) for its financial year ended 31 December 2016. This marked the Group’s journey back into the black buoyed by higher than average sales of gold, iron and silver.
Dato’ Ng Meow Giak, an Executive Director of JAG, said, “Commodity prices have been on an uptrend since June 2016 and this has contributed positively to our performance, especially in the 4th quarter of our 2016 financial year. Prices of copper, particularly, is growing from strength to strength, and we expect this trend to continue moving forward. The current year-to-date average copper price stands at USD2.67 per lb, 12.4% higher than 2016, indicating a positive year ahead. We further expect copper price to hit USD3.0 per lb this year, backed by economic recovery in China and higher demand.”
JAG Group’s core business activity is in the processing of electronic waste where it extracts and refine ferrous and non-ferrous and precious metals. “Copper makes up more than 54% of what we extract and refine, enabling the Group to be in a unique position to benefit from strengthening copper prices. Additionally, the price of precious metals such as gold and silverare also increasing steadily. This has and will continue to contribute towards our performance,” he added.
“We expect the long-term prospects of our waste management business to remain bright. In addition, we believe our diversification into property development and property investment will enable the Group to expand our sources of revenue while at the same time, mitigate our exposure to fluctuations in commodity prices,” Dato’ Ng concluded.
In January 2017, JAG announced its proposed diversification of the Group’sexisting business to include property development and property investment. JAG’s maiden venture into property development and property investment business via its wholly-owned subsidiary company, JAG Land Sdn Bhd (JAG Land), will involve a freehold 13,489.50 square meters land in Kg. Jawa, Klang. JAG Land had acquired the said landfor RM9.87 million in August 2016.
patience is important and holding power is the key..its hard to predict when the shares will rocket up..see censof today after moving so slow recently all of sudden rocket up..
@sapri57 ini share naik 0.005 pun untung gila liao. Harga share ni murah, jadi boleh beli banyak lot. Profit margin tinggi compare to expensive share. :)
The support and resistance level of JAG are 0.13 and 0.155 respectively. It is observed that the MACD line of JAG is above the centreline indicating some degree of strength in the price movement.
After a tumultuous year in its FYE Dec 31, 2015 (FY15), Jag says that things are looking up again for FY17. “We have turned the corner in FY16 and posted a turnaround in our bottom line. We reported a net profit of RM2.06m compared with a net loss of RM19.79m in FY15,” the company’s chairperson Datin Stacey Tan said. “The rise in copper prices in FY16, especially in the final quarter, has helped boost our performance. In the 4Q, we reported a net profit of RM2.4m from a net loss of RM3.43m in the same quarter of the previous year. We have had three consecutive quarters of profits,” Tan said. (StarBiz)
Jag is in electronic business, also in water business..self service laundry. This year water and electronics business will prosper. Electronics boom more waste...copper and gold. Next on track setting up gold recovery system. ..may return to near to their yesteryear prices..
Because people are holding....waiting. Wait for the impatient ones to throw later to chase after other booming stocks. Market may be lack luster this week.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Babychair
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Posted by Babychair > 2017-02-22 16:12 | Report Abuse
all awaiting for Q4 result