In 2013 it paid 188. A bonus of 1:10 or 1:5 would have been more welcome. Its NTA is rm11.83. Can easily give bonus or split and make the share more liquid. Same with Latitude. At least Hevea is making a move to split it rm1 share into 4. It was 2.80 at the time of proposal. Now up to 3.65. Directors only sleeping & enjoying directors fees yearly
chiowmin ... good analogy - " selling gold to cover stone ". Yes lah ... extremely disappointed with the dividend. Looks like there will be no 50th anniversary party. Sorry guys and gals ...
highly undervalued stock. but who cares? no trader interested in this kind of extreme low profile, low liquidity stock. and no IB talked about it....only one, maybe, MIDF. but no effect since it's not a famous IB.
for many many years, cash rich, steady profit, high yield, great management integrity. Looking at PE of Nestle, I think Panasonic Malaysia (not Panasonic Japan) deserves a much higher valuation. Why compare with Nestle? Because they share same branding power as both selling daily needs products. Well, Nestle is consider a more premium consumer brand, so it's not target at low income group but middle and above income group. As for daily use electronic products, Panasonic consider to serve the same group...middle and above income group. Nestle is trading at PE of 31x, Panamy at PE 12.6x. For me, a fair value for Panasonic is 18x. Don't forget, Panamy's cash stands at 520m by April this year, where its current market cap is 1.25b. Since there is no investment, I bet its cash position is either similar or even higher today. Consider same, that would be 42% on cash!
In addition to this, Panasonic Japan has been continued making effort to diversified its business from Japan to foreign countries due to uncertainty on Japan Yen as well as business environment (inclusive natural disaster) in Japan. It set up ASEAN regional headquarters in Singapore. And Panasonic Malaysia has been doing a great job for decades, I'll not be surprise if the company being target for expansion in coming years (In fact, it's already happening in past few years).
The EPS Growth of Panamy past 10 years was CARG 15%, the average PE of the industry was 15, and the dividend per share was 127cent which is 6%.
We can get the fair PE was 20.
If calculate the fair value of Panamy, 2014, The EPS 164cent x PE 20 = RM32.8 Compare to the price trading now was 20.66, which 35% discount, and it is undervalued.
2015, The estimate EPS 208cent x PE 20 = RM41
Don't miss this undervalue high dividend blue chips stock.
Panasonic Malaysia is definitely undervalue at the moment by considering its brand and the amount of cash it has. It worth keeping it for long term because it has good fundamental.
Totally agree. When i attended this company AGM last quarter, i heard that sale from PANAMY mostly come from oversea rather than meet local demand.Since Malaysia ringgit depreciate alot against others, i expect this quarter financial performance will be better.
Expected abit higher dividend for the Nov'15 announcement perhap higher than the usual 15sen. But if better some surprise bonus or special dividends too.
i have been holding since 5 years back when i bought at 11.30 and another at 26.00. So you can imagine the total dividends i had received so far plus the capital appreciation.
Good company indeed, the only negative I see is the biggest asset item - cash all placed with related company (non rated) while its parent company only with BBB+ rating. Wish that is placed with FI with stronger rating.
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....
Sagna Lau
16 posts
Posted by Sagna Lau > 2015-05-27 18:32 | Report Abuse
Quarter report just announced.
Revenue drop, but profit increase.