told you all last quarter already,without dayang naim gg,naim entire dayang stake has been sold to one of the substantial share holder back before dayang right issue
Changes in the composition of the Group In December 2019, one of the subsidiaries, Naim Land Sdn. Bhd. (“NLSB”), disposed of 30% of its equity interest held in Peranan Makmur Sdn. Bhd. (“PMSB”) to minority shareholders at a total cash consideration of RM3.0 million. The resultant equity interest held by NLSB in PMSB decreased from 100% to 70% following the disposal. This change in the ownership interest was accounted for as an equity transaction between the Group and non-controlling interests. The change in the Group’s share of net assets of RM1.4 million was adjusted against the retained earnings account. The Group also recognised an increase in non-controlling interests of RM1.6 million. Saved as disclosed, there are no other changes in the composition of the Group.
KIm33, was away just now, wah, did not expect sudden drop in profits , any idea why ? thks overall eps for 2019 10.96 sen, cash 226m, bal. sheet v strong la at rm1.20, PE is 10.9 is still undervalue maa... wht U think ?
NAIM's 26.42% (280.3 m shares) in Dayang is reflected at cost of rm158.5m in the Balance Sheet. at today (27.2.2020) close of rm2.57 for Dayang, NAIM will have a BIG JACKPOT OF rm720m or rm 1.40 backing per NAIM share, if mgmt choose to dispose of all Dayang holdings, to realise its value for holders.
Or mgmt can choose to sell a bit, for dividend, to reward loyal holders.
So, v unlikely for NAIM to go below current rm1.20 , imo
pls note that, NAIM total issue share capital is 513,799,322 or 513.8m shares. of whc Treasury shares :_______________________________13.056 m shares net share capital;____________________________________500.75 m shares.
mgmt can also opt to sell the Treasury shares, to generate cash, if need arises.
Last yr NAIM super duper mgmt did exceeding well to grow shareholder values from 44.5 sen at start of Jan. 2019 to end the yr at rm 1.07 sen. (+140%) Can shareholders look forward to an equally exceptional yr in 2020 ?
Correct calculation for NAIM EPS (as stated in pg. QR-9 of Bursa qtr result statement) is 11.25 sen, based on 500.743 m shares.
at today close of rm1.20, PE of 10.66 only more upside potential.
NAIM's results for 2019 was pulled down by the big drop in revenue of the Construction & Property segment revenue & profits, while aided by the big jump in revenue & profits from Dayang.
For 2020, the recovering property & better Construction segment prospects will be a strong boost for revenue & increased profits.
East Malaysia ctrs like well diversified NAIM offer the only bright spots in a gloomy BURSA, due to the fiscal stimulus from coming state elections & expansion of Pan-Borneo Highway project to Sabah !
DJ overdue for a big correction & will rebound strongly soon, Covid-19 is a good excuse to take some heat of the US market. Dont worry abt DJ, DT & Fed is there to take careof their personal interests, at least, until US elections over..hahaha
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....
KLSTK1234
135 posts
Posted by KLSTK1234 > 2020-02-24 14:49 | Report Abuse
oversold , rebound to 1.25 & above is seen