Posted by 林俊松 > 2014-02-15 17:13 | Report Abuse

mikekong55, so long. Walao~
How u knw the date ya?
Then I better get more lots b4 the date~

Posted by mikekong55 > 2014-02-15 18:01 | Report Abuse

LIM. the proposal still pending bursa/sc approval. after approve still need shareholders approval. minimum 6 months process loh.

Posted by 林俊松 > 2014-02-16 08:51 | Report Abuse

mikekong55, so I should hold on to my shares 1st & don't do anything?
Hmm... since i don't have extra bullet, I also can't do anything now.
Wait until I get my bonus in May only decide ba~
Happy, 1st time get bonus in my life time~

Posted by Steven Yong > 2014-02-18 21:29 | Report Abuse

SC has actually approve. now Bursa and Shareholder approve. You think will object meh? Just buy and hold.

Posted by Steven Yong > 2014-03-10 20:32 | Report Abuse

rhb write coverage, target price 8+ wow, buy 1 free 1

Posted by Icon8888 > 2014-03-23 15:31 | Report Abuse

http://klse.i3investor.com/blogs/icon8888/48750.jsp

Posted by Steven Yong > 2014-03-23 22:35 | Report Abuse

HLIND will rise more, why? Institution buying, simple as this. And future of cements will be good. Tasek and NARRA, use some imagination, something bigger brewing.

Posted by joeter999 > 2014-04-08 15:15 | Report Abuse

HLIND.. look like another good trade opportunity....

Posted by Steven Yong > 2014-04-08 23:26 | Report Abuse

just buy and hold, read RHB Inv report, RM8+ anytime, Just like last few months we buy around RM5, suddenly shoot up to RM6+

Posted by duitkwspkita > 2014-04-08 23:41 | Report Abuse

Steven Yong,
well done. I think you are aware of the cement listing project. Good luck. Very sooner will achieve my 1st target of RM7.50.

the same TP price from my blog http://duitkwspkita.tumble.com

Posted by joeter999 > 2014-04-09 12:37 | Report Abuse

hit road block at Rm6.60,mostly the seller from HLG..MR Koay started provide liquidity to mkt?

Posted by Steven Yong > 2014-04-09 12:55 | Report Abuse

study the annual rpt, top30 is over93% dsonic, is like 92%, now over few hundred percent return, so?

Posted by joeter999 > 2014-05-02 21:32 | Report Abuse

RM6.60 road block clear, it may start a new uptrend....

Posted by dhuwit > 2014-05-20 16:05 | Report Abuse

I) PROPOSED DISPOSALS BY HONG LEONG INDUSTRIES BERHAD (“HLI”) OF:
(A) 30,000,000 ORDINARY SHARES OF RM1.00 EACH REPRESENTING 100% EQUITY INTEREST IN HUME INDUSTRIES (MALAYSIA) SDN BHD TO NARRA INDUSTRIES BERHAD (“NARRA”) FOR A DISPOSAL CONSIDERATION OF RM48,000,000 TO BE SATISFIED BY THE ISSUANCE OF 48,000,000 NEW ORDINARY SHARES OF RM1.00 EACH IN NARRA (“NEW NARRA SHARES”) AT AN ISSUE PRICE OF RM1.00 EACH; AND

(B) THE ENTIRE 175,000,000 6-YEAR 2% NON-CUMULATIVE IRREDEEMABLE CONVERTIBLE PREFERENCE SHARES OF RM1.00 EACH IN HUME CEMENT SDN BHD TO NARRA FOR A DISPOSAL CONSIDERATION OF RM300,000,000 TO BE SATISFIED BY THE ISSUANCE OF 300,000,000 NEW NARRA SHARES AT AN ISSUE PRICE OF RM1.00 EACH
(COLLECTIVELY, THE “PROPOSED DISPOSALS”); AND

(II) PROPOSED CAPITAL DISTRIBUTION INVOLVING THE DISTRIBUTION OF 345,030,635 NEW NARRA SHARES TO SHAREHOLDERS OF HLI BY WAY OF A CAPITAL REDUCTION EXERCISE IN ACCORDANCE WITH SECTION 64 OF THE COMPANIES ACT, 1965 AND A CAPITAL REPAYMENT EXERCISE ON THE BASIS OF 1,080 NEW NARRA SHARES FOR EVERY 1,000 ORDINARY SHARES OF RM1.00 EACH IN HLI HELD ON AN ENTITLEMENT DATE TO BE DETERMINED AND ANNOUNCED LATER

Posted by happyman > 2014-05-20 16:52 | Report Abuse

anybody knows when is the ex- date of the above proposal ?

Posted by happyman > 2014-05-22 11:41 | Report Abuse

EGM 17/6/14

Posted by Steven Yong > 2014-06-06 17:28 | Report Abuse

Think not so soon. Probably end of the yr

Posted by ericoconut > 2014-06-16 13:26 | Report Abuse

any latest TP for HLIND?

Posted by Steven Yong > 2014-06-16 21:48 | Report Abuse

RHB gives rm8+ if correct.

Posted by happyman > 2014-06-18 10:42 | Report Abuse

still no entitlement date?

Posted by Wai Kin > 2014-06-21 21:47 | Report Abuse

What is the outcome of the agm?

Posted by Steven Yong > 2014-07-06 16:00 | Report Abuse

on the way to RM8, what you waiting for? NARRA RM2.50 liao, hoho

Posted by Mordecai > 2014-07-09 16:05 | Report Abuse

why sliding price?

Posted by Cowboy > 2014-07-10 01:44 | Report Abuse

I gone through the computation from RHB on the target price, it is just too conservative. The target price should be around RM 12.00

Posted by Steven Yong > 2014-07-10 08:14 | Report Abuse

Cement can go far.

Posted by Mordecai > 2014-07-11 23:48 | Report Abuse

It has remained at this price for a lonnnnngggg time! When will it go up????

Posted by Steven Yong > 2014-07-14 03:36 | Report Abuse

When it stay stagnant around rm5 I was thinking Damon laggard also. And suddenly move to now. So you need patients on this stock.

Posted by JENNY6888 > 2014-07-14 09:17 | Report Abuse

waiting game

Posted by NKBlog > 2014-07-14 10:19 | Report Abuse

It will come; just need to be patience with this one.

Posted by Cowboy > 2014-07-14 18:00 | Report Abuse

Soo...............n

Posted by NKBlog > 2014-07-14 22:22 | Report Abuse

Not so soon; 2 mths maybe......

Posted by Cowboy > 2014-07-15 01:07 | Report Abuse

We care on two timings, when it starts to ramp upward and when it will hit the peak.

Posted by Kian Leong Lim > 2014-07-24 21:01 | Report Abuse

This is a company that have proven itself through the years to be able to weather all kind of market conditions by producing resilent business results that keep on improving despite intense market competition. You can feel that it is a very strong and persisitent company. I believe share prices have better upside in the future. Anyone should be comfortable holding this counter, it pays dividends twice a year and the current market price is justifiable. Already makes 40 cents per share or net profit of 153 million in the last 9 months. In brief, it share price is better bargain than those semiconductors shares like Unisem and MPI. I think its motocycles are also selling like hotcakes.

Posted by Steven Yong > 2014-07-31 11:20 | Report Abuse

Coming,12aug, let's rumbles

Posted by NKBlog > 2014-07-31 11:23 | Report Abuse

Yes, sit tight....

Posted by johnny cash > 2014-07-31 12:02 | Report Abuse

MONEY TALK
HONG LEONG INDUSTRIES (HLI MK)
Tapping On The Growth Of Hume Cement
We are increasingly positive on the growth prospects of Hume Cement, underpinned by
its plant’s improving efficiency and a potential doubling in production capacity to cater
to more markets. Given the relatively lofty valuation in Narra, investing in Hume
Cement through HLI (HLI investors to receive 1.08 Narra shares for every share held)
could be a more attractive option. Upgrade HLI to BUY with a higher target price of
RM7.95.
WHAT’S NEW
• Increasing target price to RM7.95. As we are more optimistic on the operational
efficiency and utilisation rate of the Hume Cement plant 18 months after production
commencement, we raise our forecast for Hume Cement’s 2015 net profit to RM70m
(from RM55m) and thus Narra’s 2015 net profit forecast to RM80m. Pegging at a
higher 18x of (previously 17x) 2015 PE for Narra, our SOTP target price for HLI is
raised to RM7.95, from RM7.16.
• To double cement production capacity in 2 years’ time. We understand Hume
Cement’s plant utilisation rate has hit 82-85% and the company intends to double
the capacity via Phase 2 expansion adjacent to its existing plant. This potential
RM500m-600m expansion will see Hume Cement’s capacity surpassing that of
some peers (potentially becoming the third-largest cement player) and improving its
economies of scale. After ramping up its capacity, Hume Cement plans to penetrate
the southern regional markets which it has yet to have a presence. And in the longer
term, it may also consider moving downstream to the ready-mix cement market.
• Potentially to use par value for share price adjustment. Separately, we
understand that so far, Bursa seems to have no issue with HLI’s proposal to use the
par value to adjust its share price to reflect the distribution of Narra shares to HLI
shareholders (1.08 Narra shares for every HLI share). If so, after the shares go ex
Narra distribution, HLI’s share price will be adjusted by RM1.08, which is
significantly lower than the potential distribution value of Narra of >RM5/HLI share
(based on Narra’s present valuation).
STOCK IMPACT
• Restructuring exercise expected to complete in end-September. Management
is hopeful of completing the restructuring exercise by end-September. The company
is currently waiting for the court’s approval for capital reduction and distribution.
KEY

Posted by johnny cash > 2014-07-31 12:03 | Report Abuse

• Hume Cement doing well in FY14. After achieved an impressive RM7.8m net profit
in FY13 with only one quarter of official commissioning production, we understand
Hume Cement is likely to achieve more than RM50m net profit in FY14. Moving into
FY15, we believe the higher utilisation rate and gradual improvement in efficiency
will allow Hume Cement to see further bottom-line improvement. Hume Cement’s
good limestone reserves make it more efficient than peers who source for limestone
externally. Our 2015 RM70m net profit forecast assumes 1.6m-tonne production and
RM295/tonne net selling price.
• Expecting sustainable earnings and dividend payout post restructuring. HLI’s
earnings are sustainable or stronger in FY15-16, after stripping out Hume Cement’s
ICPS and Hume Concrete. We expect better prospects from its other building
material segments (significant turnaround at Guocera tiles division as well as
additional capacity and better pricing in the fibreboard business) to offset the
exclusion of Hume Concrete’s earnings from the group. In addition, Hume Cement
currently does not contribute any earnings to HLI’s bottom line, with the exception of
dividend income from the ICPS.
• Prospective dividend yield of 4.7-5.2%. While there is no formal dividend policy,
management guided that HLI will continue paying out at least 50-55% of its earnings
(FY15F DPS of 27-30 sen). This implies a prospective yield of 4.7-5.2% after HLI’s
share price goes-ex, assuming a RM1.08 share price adjustment.
EARNINGS REVISION
• No change to our earnings forecasts but we increase Narra’s 2015 net profit forecast
by 23%.
VALUATION/RECOMMENDATION
• Upgrade to BUY with a higher target price of RM7.95, derived by adding: a) the
implied value of Narra share at RM3.39/HLI share (HLI’s shareholders will be
receiving 1,080 Narra shares for every 1,000 HLI shares), and b) a 20% holding
company discount to our SOTP valuation of RM5.70 for HLI’s remaining assets. Our
valuation methodology is unchanged and we revise Narra’s 2015 PE valuation from
17x to 18x.
• 18x 2015F PE for Narra is reasonable. We deem an 18x (previously 17x) 2015F
PE for Narra is fair, given that peers are trading at an average of 19x 2015F PE.
Furthermore, we believe Hume Cement has better growth prospects as it plans to
significantly raise production capacity in the intermediate term.

Posted by johnny cash > 2014-07-31 12:04 | Report Abuse

BUY
(Upgraded)
Share Price RM6.77
Target Price RM7.95
Upside 17.4%
(Previous TP: RM7.16)

Posted by johnny cash > 2014-07-31 12:05 | Report Abuse

UOB KAY HIAN REPORT

Posted by duitKWSPkita > 2014-07-31 12:07 | Report Abuse

johnny cash,

good day to you. Do you have any blog for me to follow?

Wanna tell u something. Quite exclusive info. Find you quite some days already.

Posted by happyman > 2014-08-04 10:27 | Report Abuse

7.14 go go go !!!!

Posted by Steven Yong > 2014-08-04 16:02 | Report Abuse

more up side coming, RM7.50!

Posted by Wai Kin > 2014-08-04 22:50 | Report Abuse

Go Go Go!!

Posted by Kian Leong Lim > 2014-08-05 18:52 | Report Abuse

John Cash, I have a question for you. If as you said, Hume cement is expected to register net profit of RM50 million for FY14 and Narra after the restructuring is going to become a roughly RM379 million shares of par value 1 dollar company ( capital reduction 62milion/2=31 million + new shares to issue to HLI = 348 million) , the mathematics will tell you that than means Narra will make only about 13 cent per share. My question is how can a company that makes 50 million/379 million=13 cent per share be expected to register a market price of >RM5 per share. Do you know mathematics?

Posted by Kian Leong Lim > 2014-08-05 19:01 | Report Abuse

Actually, Narra will have to issue the whole of 448 million shares to acquire new businesses and capital restructuring of 62 million/2=31 million shares. Narra will have new share capital of 479 million shares. If net profit is going to be just RM50 million for FY14, it does not justified your prediction of a price of >RM5.

Posted by Cowboy > 2014-08-07 12:34 | Report Abuse

The target price meaned by JC is just too low, make it around rm12.
FY14 is around 80m.

Posted by Kian Leong Lim > 2014-08-08 09:52 | Report Abuse

Ya CB! You are right! Words speaker louder than actions. I see this counter looking like it is half dead already. Are you trying to get people to rush in so that you can get out of this counter? We are all adults, we already know how to take care of ourselves.

Posted by Cowboy > 2014-08-08 22:18 | Report Abuse

Fill up the followings
a. Market average PE =
b. Fair Price for HLI =
c. Narra projected PE =
d. Fair Price for Narra =
e. d x 1.08 =
f. b + e =

Posted by Kian Leong Lim > 2014-08-09 14:46 | Report Abuse

Cowboy, AS a buyer or a seller, I don't know which side you are on ? If you are the buyer, you want to try to pay the seller a market price that is as close as to its net tangible asset per share (book value)!!!!!!! Of course, if you are the seller, you want to use PE ratio to try to convince your buyer what you are selling is of good quality and you deserve a premium for what you are selling (fair market PE ratio is 15).

For a buyer or seller, the use of PE implies differently. For the seller, they use PE ratio to ask for a premium price, but the buyer can use the PE ratio to check how risky is the purchase.

Bear it in mind, to the buyer, the PE ratio is only a way for you to guage whether the company is currently financially healthy or not. A PE ratio of 15 or below implies that a company relative to the current market price is risk-free (send a green light to buy). A good deal is however to buy a company that has a PE ratio of around 12 since 15 is fair value. AS a buyer, you want to buy at a price not more than 10 % of nta or the book value of an asset to realize a profit (This is warren Buffett's way of doing thing).

Most Importantly, HLI's net tangible asset value now is RM4.11 per share. If you apply the Warren Buffet way, the fair price of HLI is RM4.50 per share (RM4.11*1.10).

As for Narra, its business value is zero because it hasn't been able to turn in a substantial profit in the past 5 years.

Posted by Cowboy > 2014-08-09 16:08 | Report Abuse

My advice is that u do more indept study.