Posted by Good123 > 1 month ago | Report Abuse

BUY
Share Price MYR 0.59
12m Price Target MYR 0.84 (+47%)
Previous Price Target MYR 0.85
Company Description
DXN Holdings distributes consumer products globally
under a direct selling model
Statistics
52w high/low (MYR)
3m avg turnover (USDm)
Free float (%)
Issued shares (m)
Market capitalisation
Major shareholders:
LSJ Global Sdn Bhd
Gano Global
na
Price Performance
0.760
0.740
0.720
0.700
0.680
0.660
0.640
0.620
0.600
0.580
0.71/0.59
0.3
15.8
4,825
MYR2.8B
USD655M
68.0%
13.3%

Posted by Good123 > 1 month ago | Report Abuse

Maintain BUY with a trimmed TP of MYR0.84
DXN’s 2QFY25 underperformed on weaker-than-expected sales. We expect
3Q-4QFY25E earnings to soften with expectation for sales volume in Peru
and Bolivia (its top 2 sales contributors) to normalise after front-loading
activities ahead of a scheduled price hike in Sep 2024. Our FY25E-FY27E
earnings estimates are lowered by 2%-7%. The stock continues to trade at
undemanding 12M PER of 8x post our earnings downgrades. Maintain BUY
with a lower TP of MYR0.84 based on an unchanged 11x CY25E PER target.
1HFY25 earnings reflected only 43% of FY25E
DXN’s 2QFY25 core net profit of MYR66m (-15% YoY, -23% QoQ) brought
1HFY25 core net profit to MYR152m (-9% YoY). The latter accounted for
just 43%/42% of our/consensus full-year earnings estimates. A second
interim of 0.8sen (1QFY25: 0.9sen, DPR: 52%) was declared, translating to
into a payout ratio of 60% (of headline net profit). The earnings miss was
largely due to weaker-than-expected sales.
Sales growth marred by higher operating costs
The group’s revenue grew +7% YoY on the back of higher sales volume in
its top 2 markets, Peru and Bolivia, given front-loading activities ahead of
a scheduled price adjustment in Sep 2024. Nonetheless, the topline growth
was still short of our earlier forecast of +21% for FY25E with the shortfall
coming from its other top 10 markets like India and Mexico. Pre-tax profit
however declined by -6% YoY on unfavourable USD/MYR FX movements,
and higher employee and freight shipping costs.
Lowered FY25E-FY27E earnings estimates by 2%-7%
Factoring in the weak set of results, our FY25E/FY26E/FY27E earnings
estimates are revised by -7%/-2%/-2%. We believe that DXN’s 3Q-4QFY25E
earnings might ease as (i) sales volume normalises post-price hikes in Peru
and Bolivia in 3QFY25, and (ii) MYR continues to strengthen against USD.
To mitigate this, we expect the group to ramp up member activities, and
new product launches in its top 10 markets to drive sales momentum.
FYE Feb (MYR m) FY23A FY24A FY25E FY26E FY

Posted by Good123 > 1 month ago | Report Abuse

Ipo 70sen now 58-58sen. Berbaloi😆

Posted by Good123 > 1 month ago | Report Abuse

DXN - Notice of Book Closure
DXN - Notice of Book Closure
ILC-25102024-00001
Second Interim Dividend of 0.80 sen per ordinary share in respect of the
financial year ending 28 February 2025 Kindly be advised of the following :
1) The above Company's securities will be traded and quoted "Ex - Dividend? as
from: 12 Nov 2024 2) The last date of lodgment : 13 Nov 2024 3) Date Payable :
29 Nov 2024
MANAGER, REF. DATA MANAGEMENT
You are advised to read the entire contents of the announcement or attachment.
To read the entire contents of the announcement or attachment, please access
the Bursa website at http://www.bursamalaysia.com

25/10/2024 07:00 AM


Ref Code: 202410255100032

Posted by Good123 > 1 month ago | Report Abuse

cun, net profit turun sedikit je... next Q melambung :)

Thursday, 24 Oct 2024
7:01PM
DXN MEMORANDUM OF UNDERSTANDING
6:53PM
DXN Second Interim Dividend
6:52PM
DXN 1H net profit 157.032 million (decreased 2.24%)

Posted by Good123 > 1 month ago | Report Abuse

DXN Holdings Bhd’s share price being labeled as undervalued, particularly according to analysts from Maybank, can be attributed to several factors:

1. **Strong Financial Performance**: If DXN has consistently shown strong revenue growth, profitability, and a solid balance sheet, analysts might believe that the market has not fully recognized its financial strength, leading to an undervalued share price.

2. **Market Position**: As a leading player in the direct selling and wellness products sector, DXN’s strong market presence and brand recognition could indicate that its growth potential is greater than what the current share price reflects.

3. **Growth Prospects**: Analysts may foresee significant growth opportunities for DXN, such as expanding into new markets or launching new products. If the company is well-positioned to capitalize on these opportunities, its current valuation might seem low.

4. **Industry Trends**: The wellness and health supplement industry is experiencing growth due to increasing consumer awareness. If DXN is aligned with these trends but the market hasn’t adjusted its valuation accordingly, the shares could be seen as undervalued.

5. **Earnings Forecasts**: Positive earnings forecasts from Maybank or other analysts could suggest that the company is expected to outperform market expectations, which would justify a higher share price.

6. **Comparison with Peers**: If DXN’s valuation metrics (like price-to-earnings ratio) are lower than those of its competitors, analysts may conclude that it is undervalued compared to its peers, suggesting that the market hasn’t priced in its true worth.

7. **Market Sentiment**: Overall market sentiment can also play a role. If broader market conditions have led to negative sentiment around the sector, even strong companies like DXN may be sold off, resulting in a lower share price.

In summary, DXN Holdings Bhd's share price being considered undervalued by Maybank likely stems from a combination of its solid financial performance, growth prospects, industry trends, and comparisons with competitors.

Posted by Good123 > 1 month ago | Report Abuse

Undervalued
😀
ROE 22.14
P/E 9.28
EPS 6.20
DPS 3.60
DY 6.26%

NTA 0.2800
P/B 2.05
RPS 37.80
PSR 1.52
Market Cap 2,866.4M
Shares (mil) 4,985.00

Posted by Good123 > 1 month ago | Report Abuse

RSI(14) Oversold 24.1
Stochastic(14) Oversold 0.0
Average Volume (3M) 2,066,000
Relative Volume 0.4

Posted by Good123 > 1 month ago | Report Abuse

LIST OF TOP 30 HOLDERS AS AT 31 MAY 2024
No. Name Holdings %
1 LSJ GLOBAL SDN BHD 3,090,465,105 62.148
2 GANO GLOBAL SUPPLEMENTS PTE. LTD. 661,859,895 13.310
3 AFFIN HWANG NOMINEES (TEMPATAN) SDN. BHD.
PLEDGED SECURITIES ACCO UNT FOR LSJ GLOBAL SDN. BHD. 170,000,000 3.419
4 LSJ GLOBAL SDN. BHD. 134,315,700 2.701
5 PHILLIP NOMINEES (TEMPATAN) SDN BHD
PLEDGED SECURITIES ACCOUNT FOR LIM CHEA LIN 76,632,900 1.541
6 AMSEC NOMINEES (TEMPATAN) SDN BHD
AMBANK (M) BERHAD 72,100,000 1.450
7 AZAAL TRADING SDN BHD 45,703,500 0.919
8 CITIGROUP NOMINEES (ASING) SDN BHD
CBNY FOR NORGES BANK (FI 17) 30,088,100 0.605
9 DB (MALAYSIA) NOMINEE (TEMPATAN) SENDIRIAN BERHAD
DEUTSCHE TRUSTEES MALAYSIA BERHAD FOR EASTSPRING INVESTMENTSSMALL-CAP FUND 24,161,400 0.486
10 CITIGROUP NOMINEES (TEMPATAN) SDN BHD
EMPLOYEES PROVIDENT FUND BOARD (PHEIM) 20,384,500 0.410
11 LIM CHEA LIN 20,101,800 0.404
12 CITIGROUP NOMINEES (ASING) SDN BHD
EXEMPT AN FOR CITIBANK NEW YORK (NORGES BANK 14) 18,635,300 0.375
13 CITIGROUP NOMINEES (TEMPATAN) SDN BHD
KUMPULAN WANG PERSARAAN (DIPERBADANKAN) (KENANGA) 15,266,800 0.307
14 CARTABAN NOMINEES (TEMPATAN) SDN BHD
PAMB FOR PRULINK EQUITY FOCUS FUND 14,557,200 0.293
15 CITIGROUP NOMINEES (TEMPATAN) SDN BHD
URUSHARTA JAMAAH SDN. BHD. (AHAM AM 2) 11,866,400 0.239
16 CIMB ISLAMIC NOMINEES (TEMPATAN) SDN BHD
CIMB ISLAMIC TRUSTEE BERHAD - KENANGA SYARIAH GROWTH FUND 11,703,200 0.235
17 MAYBANK NOMINEES (TEMPATAN) SDN BHD
MAYBANK TRUSTEES BERHAD FOR DANA MAKMUR PHEIM (211901) 11,361,600 0.228
18 NAI JOO CHYI 11,000,000 0.221
19 NG SEM GUAN 10,615,000 0.213
20 MAYBANK SECURITIES NOMINEES (ASING) SDN BHD
PLEDGED SECURITIES ACCOUNT FOR MATHEW PURACKAL KUNCHERIA 10,413,000 0.209
21 CIMSEC NOMINEES (TEMPATAN) SDN BHD
CIMB FOR KAWAN FOOD MANUFACTURING SDN BHD (PB) 10,000,000 0.201
22 DB (MALAYSIA) NOMINEE (TEMPATAN) SENDIRIAN BERHAD
DEUTSCHE TRUSTEES MALAYSIA BERHAD FOR EASTSPRING INVESTMENTSMY FOCUS
FUND 9,922,300 0.200
23 HSBC NOMINEES (TEMPATAN) SDN BHD
HSBC (M) TRUSTEE BHD FOR PERTUBUHAN KESELAMATAN SOSIAL (UOB
AMM6939-406) 9,437,200 0.190
24 PHILLIP NOMINEES (TEMPATAN) SDN BHD
EXEMPT AN FOR PHILLIP CAPITAL MANAGEMENT SDN BHD 9,211,400 0.185
25 MAYBANK NOMINEES (TEMPATAN) SDN BHD
MTRUSTEE BHD FOR AIIMAN TNB RBTF (EQ) (433139) 8,774,800 0.176
26 CIMB GROUP NOMINEES (TEMPATAN) SDN BHD
CIMB BANK BERHAD (EDP 2) 7,909,400 0.159
27 TEH CHAI PENG 7,648,200 0.154
28 MAYBANK NOMINEES (TEMPATAN) SDN BHD
NATIONAL TRUST FUND (IFM UOBAM) (446560) 7,571,700 0.152
29 CITIGROUP NOMINEES (TEMPATAN) SDN BHD
KUMPULAN WANG PERSARAAN (DIPERBADANKAN) (ESPRING ABSR EQ) 6,848,500 0.138
30 HLB NOMINEES (TEMPATAN) SDN BHD
PLEDGED SECURITIES ACCOUNT FOR SIVA KUMAR A/L M JEYAPALAN 6,128,500 0.123
Total: 4,544,683,400 91.392

Posted by ArianaGoh > 1 month ago | Report Abuse

DXN leases corporate jet for business expansion. DXN may be able to deduct leasing costs as a business expense, further making the lease an attractive option over outright purchase.

https://theedgemalaysia.com/node/733017

Posted by JJPTR > 1 month ago | Report Abuse

Using company money to pay $30m a year to a major shareholder to rent a private jet from him, konon nya for businus expansion. $30m can buy 10 of thousands of trips. Do you need 10 thousand trips per year?

Posted by moneymanager > 1 month ago | Report Abuse

DXN has a fully integrated supply chain, which means they oversee everything from cultivation to distribution. This control ensures the highest standards in product quality and reliability, which can be one of the key drivers of future revenue growth.

Posted by chickenriceseller > 1 month ago | Report Abuse

Comedy. Fly with airasia la.

Posted by noirluck > 1 month ago | Report Abuse

Kena dump today, boss sure support back & pick up more at this price

Posted by gsooi100 > 1 month ago | Report Abuse

maybe our beloved boss have watch the HK drama that baru finished on last month... that company need own plane to fly... haha....

Posted by rohank71 > 1 month ago | Report Abuse

200+M were traded off market today at 60 sen. who sold and who bought.

Posted by Jack Khan > 1 month ago | Report Abuse

Private JET for TOP Sales individual I think it is OK! Just the price is too expensive! RM30m /300 =0.1m per hour trip!
They want to Contraband, is it?

Posted by kkh3368 > 1 month ago | Report Abuse

Good 123 comment ?

Posted by suresh16 > 1 month ago | Report Abuse

the selling not stopping

Posted by suresh16 > 1 month ago | Report Abuse

bought profit making company pays good divided but at the end it's a sh**

Posted by suresh16 > 1 month ago | Report Abuse

who is selling who is buying

Posted by MrPandaPanda > 1 month ago | Report Abuse

same here suresh16, fundamentals are amazing with good dividends but.....

Posted by bursabets > 1 month ago | Report Abuse

Related party transactions are commonly perceived as red flag in detecting breaches to the arm’s length principle where related party transactions may be engaged under the influence of existing business relationships and the agreed-upon price of the transactions may differ from actual fair market value.

Minority shareholders have no say in such practices, and in this case, apparently some key shareholders vent their disagreement by selling down the shares.

Posted by pang72 > 1 month ago | Report Abuse

Tmr of story, don't miss use company fund for private jet..
SUPERMX is the lesson brfore

Posted by bursabets > 1 month ago | Report Abuse

Some companies take shareholders' support for granted, and some don't really care about the minority shareholders. The actions and decisions of their leadership team tell a lot about their characters.

Posted by moneymanager > 1 month ago | Report Abuse

People seem to think that travel to South America region is like travel to Bangkok lol... Having a leased aircraft can be less time consuming if they are always on business trip to supervise their oversea operations

Posted by GoldenShares > 1 month ago | Report Abuse

where is the sohcai Good 123, ha ha ha

Posted by Kkristal > 1 month ago | Report Abuse

Monday sure bounce back 0.55, get ready.. good to see DXN recognize achievements through awards while honoring people drives our success.

Posted by AlphaAdventurer > 1 month ago | Report Abuse

Leasing aircraft can enhance DXN's brand image and also means that the company has strong financial stability 😁

Posted by hotjazz > 1 month ago | Report Abuse

Leasing aircraft is one thing, leasing it from own boss is another thing.

Posted by CarolineTeoh > 1 month ago | Report Abuse

Leasing the aircraft from own boss means the cash will flow back to the boss. Smart 😎

Posted by Willtolive > 1 month ago | Report Abuse

lease rocket to the moon

Posted by BenjaminSS14 > 1 month ago | Report Abuse

CarolineTeoh -- yeah free Jet for the boss

Posted by moneymanager > 1 month ago | Report Abuse

Starting to rebound

Posted by chillib3an > 1 month ago | Report Abuse

Ok decide to jump in, below 0.50 then chip in!

Posted by MarketNavigator > 1 month ago | Report Abuse

I think there will be new major shareholders, who are the recipients of the shares

Posted by moneymanager > 1 month ago | Report Abuse

DXN Holdings has a fully integrated supply chain, which means they oversee everything from cultivation to distribution. This control ensures the highest standards in product quality and reliability.

Posted by yifeng > 1 month ago | Report Abuse

Buy & wait rebound above 0.50, singapore shareholder disposing of a 4.5% stake, comprising 223.77 million shares, in a direct business deal believed to be at 60 sen per share for a total of RM134.26 million.

Posted by Noni > 1 month ago | Report Abuse

The dividend yield is very attractive at current price.

Posted by pang72 > 1 month ago | Report Abuse

Wah! Drop again...
Bila mahu stop?

Posted by ArianaGoh > 1 month ago | Report Abuse

Next support level is 0.400. A great rebound might occur when it hits that price

Posted by beluga > 1 month ago | Report Abuse

https://www.youtube.com/watch?v=Wo1MnE2sjgk&ab_channel=WorldOfLuxury

Posted by speakup > 1 month ago | Report Abuse

Bye bye. Cut loss d

Posted by elhippo2001 > 1 month ago | Report Abuse

thanks for pushing down, caught some rebound train before noon

Posted by GoldenShares > 1 month ago | Report Abuse

yes thanks DXN , managed to collect the falling durian this morning at 0.445 - 0.45, : )

Posted by CarolineTeoh > 1 month ago | Report Abuse

It's time for DXN to bounce back to 50 cents and above. Buy buy

Posted by moneymanager > 1 month ago | Report Abuse

Attractive yield, good time to collect

Posted by AlphaAdventurer > 1 month ago | Report Abuse

Current PE is quite low also, which is only around 7.75x. It's a good deal

Posted by moneymanager > 1 month ago | Report Abuse

Now the PE and dividend yield seem extremely attractive

Posted by LuckyKoi > 1 month ago | Report Abuse

of course attractive lor, only retails are dumping their tickets.. now rebounding is on the way