Posted by ywcheok > 2014-05-24 11:54 | Report Abuse

Calvintaneng, do u know why the inventories value so high?
My lecture say inventories high might be creative accounting..

Posted by ThankYou > 2014-05-26 22:44 | Report Abuse

Fair price = 70 sen

Posted by bugle > 2014-05-27 12:23 | Report Abuse

should have another set of improving quarterly result, then... apa lagi...hantam sajalah!

Posted by IRENE________TIONG > 2014-05-27 23:56 | Report Abuse

hiak hiak hiak

Posted by bhlim24 > 2014-05-28 21:23 | Report Abuse

Just announce good quarter result..the quarter profit almost double the profit of last year..
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1637517

Posted by bugle > 2014-05-29 01:31 | Report Abuse

"The Directors expect the operational performance of the fourth quarter to improve and the
results for the current financial year will be better than the previous financial year."
10% dividend coming soon!

Posted by DR_AYAM > 2014-05-29 17:03 | Report Abuse

Ayam Tua oh Ayam Tua, you recomend AHB, AHB still hovering 22.5 sen, whilse ASB shoot from 17 to 27 sen .

Posted by AyamTua > 2014-05-29 22:52 | Report Abuse

most counter i recommend semua bagus punya lah
ahb - profited with 59m shares only
hexza - profited with dividend
ntpm - profited with dividend
L&G - profited with dividend
EAH - M&A style like GHLSys very limited downside with more upside .. future dsonic
GHLSys - future paypal like growth

amin ..... selamat punya lah - berdoa dan berserah

kikkkiiikkkkkkkiiii

Posted by DR_AYAM > 2014-05-30 12:33 | Report Abuse

ALREADY TAKE PROFIT ASB 60+% GAIn.
YOu like IRENE TIONG ADVOCATE AHB, NEVER UP de.

Posted by Ayam126 > 2014-06-01 01:24 | Report Abuse

conned by AYAM TUA. NOW IS DOWNTREND WILL PECAH 70 SEN AGAIN.

NO PROFIT PUNYA COMPANY, RESIN DIVISIO IS MAKING LOSSES. SELL AYAM GORENG IS BETTER

Posted by calvintaneng > 2014-06-01 01:50 | Report Abuse

Ywcheok,

Don't worry about Hexza. High inventories better than high debts. This coming Hari Raya should clear some stocks.

Ayam126,

With Football fever diversion many stocks have been sold down. This is actually a good time to bargain hunt good stocks with fundamental like Hexza.

I once bought Hexza around 55 cts. Will Hexza fall down for me to buy back on the cheap? Hope not. I hope you guys and gals do well in Hexza.

Posted by AyamTua > 2014-06-02 03:59 | Report Abuse

bangun pagi, gosok gigi, cuci muka - gap up? kikiki

Posted by wahaha129 > 2014-06-02 23:25 | Report Abuse

Ayam Tua = penipu = wahaha126

Posted by wahaha129 > 2014-06-02 23:39 | Report Abuse

AYAM GIGI

Posted by AyamTua > 2014-06-03 00:02 | Report Abuse

$1.00 coming soon .. kikiiii

Posted by ywcheok > 2014-06-03 01:30 | Report Abuse

Ok calvin thanks for your opinion

Posted by Ayam1 > 2014-06-03 02:12 | Report Abuse

BUT THE ROE is TOO LOW!!!!! PROFIT MARGIN is ALSO TOO LOW!!!
AYAM RESIN DIVISION is MAKING LOSSES!!!!

WHAT'S GOOD??? AYAM TIPU SENDIRI punya

Posted by Ayam2 > 2014-06-03 11:06 | Report Abuse

Ayam Tua, ??? You want to lure people???? The growth momentum is slowing down and the resin division is making losses. Unless you urge the boss to dispose the resin division (ask that? AGM), baru Hexza can make profit.

Posted by AyamTua > 2014-06-03 13:06 | Report Abuse

Ayam1 and Ayam2 - you have made right choice to be in HEXZA chicken coope!

here's something for you to read Ayam1 and Ayam2 - and to all other psycho ayamtua fans and followers.. wahahaha.. wahihihihi

---

Hexza announced a dividend of 10% on 24th October 2013. At the close of 77.5 sen this morning, the dividend yield amounts to 6.5%. This is twice the interest rate one can get from putting the money in fixed deposit in bank. Isn’t that good?

Hexza Corporation Berhad operates in three business segments: investment holding, which is engaged in investment holding activities; manufacturing, which is engaged in the manufacture and sales of formaldehyde based adhesives and resins for timber related industries, ethyl alcohol, natural vinegar, cooler, liquefied carbon dioxide and kaoliang wine.

Hexza has been in the business for a long time. Although there is not a single year of losses, there has been no growth in earnings for the last 12 years. However, the management has been generous to its shareholders with increasing dividend payment from 0.6 sen to the most recent 5 sen per share. Is this high dividend yield of 6.5% sustainable?

Referring to Hexza’s latest financial statements as at 30 June 2013, there is plenty of hard cash available. Free Cash Flow amounts to 20m, or 9.5 sen per share. It has an excess cash of 130m, or 65 sen per share in its balance sheet. Hence there is no problem at all for Hexza to continue paying good dividend in the future.

The liquidation value of Hexza is computed using the Graham net net is shown in Table 1 below:

Table 1: Graham net-net valuation of Hexza
Cash and cash equivalents 73,404 100% 73,404 0.37
Other investments 55,886 100% 55,886 0.28
Trade & other receivables 23,885 75% 17,914 0.09
Inventories 17,367 50% 8,684 0.04
Property, plant and equipment 66,959 50% 33,480 0.17
Other assets 3,295 0% xxxx xxxx
Total assets 240,796 xxxx 189,367 0.95
Non-Controlling Interests (6,876) 100% (6,876) (0.03)
TOTAL EQUITY AND LIABILITIES (20,421) 100% (20,421) (0.10)
Net assets 213,499 xxxx 162,070 xxxx
Number of shares 200,380 xxxx 200,380 xxxx
NAB 1.07 xxxx 0.809 0.809

The table above shows that the net asset backing (NAB) of Hexza is RM1.07. At this morning’s closing price of 77.5 sen, it is traded at a huge discount of 27% to its NAB. The net-net valuation of Hexza is shown to be 81 sen, which is still higher than its price.

Isn’t Hexza an undervalued stock as shown above? Wait until we perform some basic checks.

3 Basic Checks to Perform for a Net Net
For a net net to be investable, it should have
• a solid balance sheet, preferably more cash than inventories and receivables.
• is not bleeding cash. At least breaking even or positive in net profit.
• positive EBITDA

The first check shows that Hexza has most of its net-net assets in high quality assets in cash and cash equivalent amount to 65 sen per share. Hence we can safely confirm that the quality of the assets is excellent. Next to check is “Is it bleeding cash” and if it has positive Ebitda?

The latest annual financial results ended 30 June 2013 shows Hexza’s made a net profit of 8m and 4m, or EPS of 4.2sen and 3 sen respectively in 2013 and 2012. Cash flow from operations amounts to 20m with free cash flow of 18.7m last financial year. This FCF is a high of 15% (>10%) of revenue. Hence Hexza passes these checks with flying colours.

Conclusions
Hexza qualifies as Graham net net investment strategy with a wide margin of safety. It can also stand on its own as a value investment stock as a going concern with the high dividend yield investing strategy.

http://klse.i3investor.com/blogs/stock_pick_challenge_2013_2h/40677.jsp

Posted by AyamTua > 2014-06-03 13:07 | Report Abuse

3 Basic Checks to Perform for a Net Net
For a net net to be investable, it should have
• a solid balance sheet, preferably more cash than inventories and receivables.
• is not bleeding cash. At least breaking even or positive in net profit.
• positive EBITDA


--- Ayam1 and Ayam2 .. do you know who to calculate 123? how to read abc? hihihihihi

Posted by AyamTua > 2014-06-03 13:07 | Report Abuse

NTA:1.07 <--- HEXZA .. power juice !

Posted by DR_AYAM > 2014-06-03 17:12 | Report Abuse

I only know, HEXZA has growth problem. Resin division is indeed making losses.

Any adverse economic townturn will negatively impact the sustainbitlity of HEXZA's growth & profit.

Profit Margin too low (<2%), which is very sensitivitiy to external issues.

Posted by AyamTua > 2014-06-04 01:48 | Report Abuse

CSL compare to HEXZA ? 1 billion cash but senang kena tipu? HEXZA buatan Malaysia... power loh.. CSL give free also dont want... kikikiki

Posted by DR_AYAM > 2014-06-04 12:42 | Report Abuse

CSL give free, want. because i will directly dump them for ca$h and buy your hexza

Posted by lboonk79 > 2014-06-04 14:43 | Report Abuse

goreng now hexza!!!!!!!!!!!!!!!!!!

Posted by Ayam1 > 2014-06-04 22:29 | Report Abuse

Where is Ayam 3

Posted by Ayam1 > 2014-06-05 12:08 | Report Abuse

Moving side ways, need Ayam 3.

Posted by Ayam1 > 2014-06-05 12:09 | Report Abuse

rox639 列车快开了。。。先生女士请快快就位。。。
05/06/2014 11:24

AYAM 3!!! need you!

Posted by Ayam3 > 2014-06-05 12:12 | Report Abuse

Hai, I AM AYAM #3.

Posted by Ayam2 > 2014-06-05 12:36 | Report Abuse

先生女士请快快就位。。。

Posted by Ayat > 2014-06-05 23:41 | Report Abuse

Specially for AYAM TUA
http://finance.yahoo.com/news/5-worst-money-mistakes-millionaires-171800130.html

Posted by Ayam4 > 2014-06-07 00:37 | Report Abuse

Here I come, Ayam Tua. I hope you will like me.

Posted by popo > 2014-06-07 17:23 | Report Abuse

Oh! Ayam tua,Luster will coming soon,pls go to counter luster

Posted by jolie2 > 2014-06-07 17:32 | Report Abuse

HEXZA product mainly is ethanol refinery. Their raw material is molasses from sugar cane which have to be imported but sell their product locally. The risk is currency exchange. Also. the govt tax on ethanol s high if they sell to those beverage industry. Very low margin business.

How to growth ????? The CEO also near to 70 years old. No succession planning.
.

Posted by Tom贩卖机 > 2014-06-07 20:35 | Report Abuse

看hexza的股价和净利润简直是笑而不语。。。。除了goreng什么都没了

Posted by Ayam1 > 2014-06-08 22:29 | Report Abuse

jolie2 is correct. Ayam Tua already Tua and he want to sell away his share at higher price. say 80 sen or 85 sen.

Posted by Ayam1 > 2014-06-08 22:30 | Report Abuse

If no one buy in to push up the price, Ayam Tua will simply gradually throw away at what ever price. He need $$ now, to travel, to buy Canon 1DX, to buy Canon 400 2.8 II IS L, etc.

Posted by Ayam1 > 2014-06-08 22:33 | Report Abuse

Ya, very low margin. Ayam Tua sudak mabuk

Posted by Ayat > 2014-06-09 12:04 | Report Abuse

You need lives. Someone stucked @ Level 167 & Level 243.

Posted by AyamTua > 2014-06-09 17:32 | Report Abuse

welcome to Hexza.. the best rock solid fundamental. at night can rest assure sleep well ... TP: 1.07 (same like NTA lah) kikiki

Posted by AyamTua > 2014-06-09 17:42 | Report Abuse

jolie2: have you tried eat drunken kungpao chicken with vinegar (Hexza also do vinegar) .. kikiki

Posted by AyamTua > 2014-06-09 17:44 | Report Abuse

Posted by Ayam1 > Jun 3, 2014 02:12 AM | Report Abuse

BUT THE ROE is TOO LOW!!!!! PROFIT MARGIN is ALSO TOO LOW!!!
AYAM RESIN DIVISION is MAKING LOSSES!!!!

WHAT'S GOOD??? AYAM TIPU SENDIRI punya


--- ROE? PROFIT MARGIN? MH370? INDIAN OCEAN? apa ini ? magik kah? kikikiki

Posted by AyamTua > 2014-06-09 17:44 | Report Abuse

HEXZA...... HEXZA... REBAN EMAS!

Posted by AyamTua > 2014-06-09 17:45 | Report Abuse

if you dont know investing than by all means PLAY CANDYCRUSH! kikiki

Posted by jolie2 > 2014-06-09 18:22 | Report Abuse

they also produce vinegar or bio-acetic and also kaoliang wine but the sales is very small compared with ethanol. Very small contribution from this 2 product.
The share price moves only if there is growth . i notice in their annual report that they fired the manager of resin plant and hired a new one. This also dare to report in the annual report. So unprofessional.

Posted by Ayam5 > 2014-06-09 22:53 | Report Abuse

Extract** from Annual report 2013--- jolie2 is this what you mean???
___________________________________________________________

Norsechem Resins Sdn. Berhad had employed a recommended formaldehyde resins Scientist from India
as General Manager under contract for two years. His promises did not work out and Norsechem Resins
experienced a drop in turnover from RM27,451,733 in the previous year to RM16,716,862 for the financial year
ended 30th June, 2013, a drop of RM10,734,871 (39.10%).
The contract for the Scientist from India expired on 30th J

___________________________________________________________

So ayam tua, don't play play.

Posted by Ayam5 > 2014-06-09 22:53 | Report Abuse

From Page 8. Fire manager?

Posted by Ayam5 > 2014-06-09 22:54 | Report Abuse

sell the resin division, baru company can profit, OK?

Posted by jolie2 > 2014-06-09 23:16 | Report Abuse

they put it a very nice term only. In actual fact, already considered fired.

Posted by Ayam2 > 2014-06-09 23:20 | Report Abuse

OIC, thanks for your explanations. I improved my English, can pass MUET with at least Band 5. kokokokokokok!!!! Stupiak Ayam Tua, promoting resin division with LOSS