Posted by keanpoh > 2014-01-27 22:30 | Report Abuse

Or if you have time, you can do a fraction of revenue contribution of its Manufacturing & Property business, and then apply that fraction to the total interest payment & tax charges to get the EBIT for comparison purposes.

Again, that is just rough estimation. An industry average might be a better approach.

Besides, you have to keep in mind that SCIENTX is a larger company compared to TGUAN (RM1.1bil vs RM230mil). One should compare companies with similar sizes too.

Cheers!!

Posted by houseofordos > 2014-01-28 00:21 | Report Abuse

"Besides, you have to keep in mind that SCIENTX is a larger company compared to TGUAN (RM1.1bil vs RM230mil). One should compare companies with similar sizes too. "

Using EV/EBIT solves this problem of comparing companies of different sizes but I found its a bit hard to do sum of parts EV/EBIT valuation as the annual report doesn't break down the assets detail enough for me to do that.

Anyway, KENANGA has already done an interesting write up on SCIENTX based on the SOP method based on PE and RNAV. Yes I would agree that at current PER=10x is not too expensive considering its moats and growth prospects. However, my concern is that the property division is been contributing a higher percentage of the EPS than manufacturing despite higher revenue of the latter. If property segment slows down (considering that FY13 has already been a record year), then the manufacturing division will need to compensate for the drop in earnings to justify the current PE.

Posted by leslieroycarter > 2014-01-29 14:12 | Report Abuse

houses built by Scientx are categorised as 'affordable' not the type very expensive which is built by Ecoworld way too expensive and beyond the reach of majority.....

Posted by metalmonk > 2014-02-07 10:33 | Report Abuse

suddenly its so quiet at Scientex

Posted by leslieroycarter > 2014-02-10 10:12 | Report Abuse

Scientx has awaken from sleep .....chart shows positive today and an upswing is around the corner...Year 2014 will be year for Scientx...

Posted by leslieroycarter > 2014-02-10 11:53 | Report Abuse

will climb to the ex dividend price at 5.60 very soon!

Posted by leslieroycarter > 2014-02-10 12:01 | Report Abuse

extract:
big shareholders keep on buying cheap.....? Minority shareholders keep on selling cheap ?
Wednesday, 29 Jan 2014

5:20PM SCIENTX Lim Teck Meng (40,000 units Acquired)
5:20PM SCIENTX Scientex Holdings Sdn Bhd (20,000 units Acquired)
5:20PM SCIENTX Lim Peng Jin (40,000 units Acquired)
5:20PM SCIENTX Lim Peng Cheong (40,000 units Acquired)
5:19PM SCIENTX Lim Peng Cheong (40,000 units Acquired)
5:19PM SCIENTX Lim Peng Jin (40,000 units Acquired)
5:19PM SCIENTX Lim Teck Meng (40,000 units Acquired)

Posted by leslieroycarter > 2014-02-10 12:33 | Report Abuse

extract:
Thursday, 23 Jan 2014

7:35PM SCIENTX Lim Peng Jin (1,100,000 units Acquired)
7:32PM SCIENTX Lim Peng Cheong (2,200,000 units Transacted)
7:32PM SCIENTX Lim Teck Meng (1,100,000 units Acquired)
5:21PM SCIENTX Lim Peng Cheong (2,200,000 units Transacted)
5:21PM SCIENTX Lim Teck Meng (1,100,000 units Acquired)
5:21PM SCIENTX Scientex Holdings Sdn Bhd (1,100,000 units Acquired)
5:21PM SCIENTX Lim Peng Jin (1,100,000 units Acquired)

Posted by leslieroycarter > 2014-02-10 12:33 | Report Abuse

extract:
Monday, 13 Jan 2014

7:37PM SCIENTX Scientex Holdings Sdn Bhd (1,100,000 units Acquired)
7:35PM SCIENTX Lim Teck Meng (1,116,000 units Acquired)
7:35PM SCIENTX Lim Peng Cheong (2,216,000 units Transacted)
7:33PM SCIENTX Lim Peng Cheong (2,216,000 units Transacted)
7:33PM SCIENTX Lim Peng Jin (1,116,000 units Acquired)
7:33PM SCIENTX Lim Peng Jin (1,116,000 units Acquired)
7:31PM SCIENTX Lim Teck Meng (1,116,000 units Acquired)

Posted by leslieroycarter > 2014-02-10 16:48 | Report Abuse

Those who are doubtful of the prospects in this company , encourage to sell into strength ...but I prefer to hold on at least medium term.

Posted by JT Yeo > 2014-02-10 21:08 | Report Abuse

@ houseofordos, Ive also done a DCF on Scientex, coupled with a few others valuation, my estimates for IV is somewhere between RM7-10. I was waiting for a RM4.50 entry point but just won't go down lol.

Tguan has a very similar business to Scientex. Even excluding property business, Tguan profit margin is lower. Then again they dont really compete with each other as they export to quite different countries.

Posted by leslieroycarter > 2014-02-10 22:08 | Report Abuse

It may move higher tomorrow....

Posted by leslieroycarter > 2014-02-11 11:30 | Report Abuse

volume is too small to make any impact

Posted by metalmonk > 2014-02-11 12:14 | Report Abuse

long term.. volume too low

Posted by metalmonk > 2014-02-11 12:28 | Report Abuse

but the owners have confidence for future by buying back so much shares.. so outlook for future profits in next few quarters should be good.. since they have insight.. recommend to collect and wait..

Posted by leslieroycarter > 2014-02-11 15:52 | Report Abuse

The management headed by CEO Mr Lim had predicted its share price to double in 5 years time when its volume of business double at 20% per annum.....shall keep for long term in order to see results plus its dividend pay out also very consistent yearly where it has increased from year to year , where last year was 38% , 2014 shall be higher ....EPS 52.74 , PE 10.22 and NAB 2.88. Good or not will depend on individual perception and calculation...

Posted by leslieroycarter > 2014-02-12 15:44 | Report Abuse

If no confidence in Scientx , now is the good time to sell...selling on strength

Posted by leslieroycarter > 2014-02-13 13:45 | Report Abuse

its price is inching up by 1-2 cts per trading day n may see its past glory soon!

Posted by metalmonk > 2014-02-13 13:50 | Report Abuse

low volume... with foreign selling the market, need more upbeat sentiments, news to go up up.. :)

Posted by leslieroycarter > 2014-02-13 15:03 | Report Abuse

engine started into gear 1 ....its TP is 6.31 ....so more room to go... At this turbulent market better change to blue chips to avoid heavy looses

Posted by leslieroycarter > 2014-02-13 15:11 | Report Abuse

my advice is clear , don't believe better sell this counter into strength ...

Posted by leslieroycarter > 2014-02-13 15:18 | Report Abuse

I had bought the share at 5.61 inclusive of dividend 9 cts ....

Posted by leslieroycarter > 2014-02-13 16:21 | Report Abuse

now engine in gear 2....pumping more Ron 97 petrol....

Posted by qwertyuiop > 2014-02-13 17:04 | Report Abuse

investing in scientex has nothing to worry about la, strong and solid co with cheap price.

Posted by metalmonk > 2014-02-14 09:08 | Report Abuse

yup.. good prospects :)

Posted by metalmonk > 2014-02-14 09:10 | Report Abuse

sign to show next quarter results should be good.. should be going up to 6 soon

Posted by leslieroycarter > 2014-02-14 09:29 | Report Abuse

gap up change to gear 3....

Posted by leslieroycarter > 2014-02-14 09:35 | Report Abuse

if u want to buy cheap , go to penny stocks....

Posted by metalmonk > 2014-02-14 15:08 | Report Abuse

There was corporate announcement today...
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1538481

They are going to buy SEACERA POLYFILMS SDN BHD a company based on Rawang annouced as part of their plan in Nov 13..

PROPOSED ACQUISITION OF 12,900,000 ORDINARY SHARES OF RM1.00 EACH IN THE CAPITAL OF SEACERA POLYFILMS SDN BHD, REPRESENTING THE ENTIRE ISSUED AND PAID-UP SHARE CAPITAL OF SEACERA POLYFILMS SDN BHD FOR A TOTAL PURCHASE CONSIDERATION OF RM39,000,000.00 BY SCIENTEX PACKAGING FILM SDN BHD

Posted by metalmonk > 2014-02-14 15:50 | Report Abuse

Good prospect and secured future..

400ha landbank to be developed

Current projects worth about RM7bil in gross development value (GDV) which would last for about 10 years

http://www.thegardenresidences.com.my/
Scientex Kulai, all sold out except for Pine Elegance units.
Scientex Pasir Gudang, all sold out except for 4 type, embun elite 2 and 3, Astana 2 and Lavender Elite
Scientex Senai, all sold out except lavender elegance
Scientex Innoparc - semi-detached factory..
Scientex Heights, Malacca - all sold out except for phase M10, shoplot M09

Upcoming
The Heights Residence - New condo near to MMU ~ 10 mins walk
Scientex Kulai 2..

Posted by metalmonk > 2014-02-17 15:47 | Report Abuse

Should challenge last year high soon. Good company with future growth.

Posted by metalmonk > 2014-02-17 22:34 | Report Abuse

Good signs with overall KLCI with huge trades of 3.63 billion shares. Positive sign for it to go higher and break previous resistance if we get more good news for the latest quarter.

Posted by metalmonk > 2014-02-18 22:12 | Report Abuse

Previous trend, Sept 2013. IT went from 4.92 to 5.62 in 5 days... Almost similar trend undergoing now :) Happy investing.. Good future :)

Posted by metalmonk > 2014-02-19 09:19 | Report Abuse

on a bullrun :)

Posted by metalmonk > 2014-02-19 09:27 | Report Abuse

will going to challenge 5.94 soon.. if can break previous high, look forward to 6.28..
Expect good news in March quarter results.

Posted by metalmonk > 2014-02-19 16:16 | Report Abuse

sudden surge of volume....single trade, 2950 volume... good sign.. volume is increasing and looking for good days ahead

Posted by JT Yeo > 2014-02-25 10:08 | Report Abuse

good keep going

Posted by metalmonk > 2014-03-07 15:53 | Report Abuse

quiet these few days..

Posted by David Goh > 2014-03-13 16:33 | Report Abuse

going to break new high!!

Posted by michaelwong > 2014-03-17 20:00 | Report Abuse

Scientx scaling new hheights. Referred previous blog headlines

Posted by dg123 > 2014-03-18 12:09 | Report Abuse

I think will go RM7.00 in short term. saw the special message in this morning queue by the Big Guns.

Posted by Elvin Beh Chun Yen > 2014-03-18 19:17 | Report Abuse

My TP is 7.2 :)

Posted by michaelwong > 2014-03-20 00:17 | Report Abuse

Committed management team under the founding Lim family which now hold a 60% stake. Moving forward SCI ' growth will be deliver by the expansion sales. Pegging a 12×CY14FP/E we arrive at our MYR 6.36FV. We initiate 2 it's manufacturing segment n coverage on this stock n ascribing a 30% discount 2 the RNAV of its property segment with a buy call by RHB / TP 6.36 on 12/3/2014.

Posted by michaelwong > 2014-03-20 01:14 | Report Abuse

The present TP initiate by RHB is just an illustration. It's still have to depend on the market forces. Thur's the market forces play a very significant role in deciding the momentum of stock prices. Sometimes it may go beyond n likewise the other way round.

Hence from every point of view from stock investor's invest with your our credibility.

Posted by prahadude > 2014-03-20 13:46 | Report Abuse

improved quarterly report !

Posted by metalmonk > 2014-03-20 20:05 | Report Abuse

it will improved further, the malacca new condo beside MMU are 80% sold out.. they have so many projects, and their effort to consolidate their manufacturing has show improvement in profit.. once they replace the old machines in SEACERA POLYFILMS, then cost will be lower and more profit in upcoming quarters..

Good long term investment.

Posted by L. C. Chong > 2014-03-21 14:39 | Report Abuse

SCIENTX analysis - http://lcchong.wordpress.com/2014/03/21/scientxfundamental-analysis-21-mar-2014/

Posted by dg123 > 2014-03-31 17:24 | Report Abuse

any idea why down?

Posted by metalmonk > 2014-04-01 13:30 | Report Abuse

seems the owners are selling their shares at the high price and rebought at lower prices.. no prices reported in the Bursa annoucements.. so it will trade sideways for a while.. but buying back by owners shows the confidence that there still a big future for Scientex..

Disposed 26/03/2014
1,967,000

Acquired 26/03/2014
1,967,000

Disposed 27/03/2014
1,967,000

Acquired 27/03/2014
1,967,000

Disposed 28/03/2014
1,967,280

Acquired 28/03/2014
1,967,280

Posted by metalmonk > 2014-04-01 13:30 | Report Abuse

this will clean out the contra buyers as well..