Posted by BRITISHEMPIRE > 2016-10-02 12:38 | Report Abuse

Gentleman let us look at Tek Seng from a business perspective as I do , the company has now rid itself of all the lazy workers but kept the 500 + good ones the plaint expansion is all installed and ready to come on line as demand allows meanwhile they are not paying excess staff to sit around doing nothing and in addition the redundances will be an incentive to the remaining 500 + workers to do a good job or face redundancy. As the Paris accord next year ramps up demand for solar to levels never before seen then Tek Seng will be at full production and unable to make enough panels for dwmand.

What you must all remember is nothing happens overnight it will be a gradual share price rise well over 2 ringgit in a years time and potentially 3 or 4 ringgit as people understand the only way this planet will survive is by switching to renewable energy such as solar and wind !

I will be holding my huge amount of shares for the long term when I can obtain 400% returns as far as I am concerned the news of the redundances told me a very important thing and that was this company is well managed with a good product and diversified in the PVC areas as well what better combination can one hope for.

We are just fortunate that all the panic sellers that have no understanding of good business have allowed us to average down our holdings to this bargain price that the share stands at today.

And thank you Tek Seng for making redundant all of the rubbish that will not be productive in growing the company and thank you for confirming in your statement that you are commited to your shareholders which is appreciated.

One word from me BUY

Posted by skyrider > 2016-10-02 14:04 | Report Abuse

Fake ang mo kau BRITISHEMPIRE out to mislead ppl again. The staff were lay off due to unmet
business forecast, not because the they were lazy!

"GEORGE TOWN (Sept 29): Penang government says the latest retrenchment exercise at a unit of Penang-based Tek Seng Holdings Bhd was due to the company's redundancy caused by unmet business forecast, and is not reflective of the state's employment climate.

InvestPenang general manager Loo Lee Lian said in a statement today that the agency has been informed of the reason for the 180-staff retrenchment by TS Solartech Sdn Bhd, Tek Seng's solar cell and module manufacturer based in Penang Science Park."

Posted by CKSipoh > 2016-10-02 14:45 | Report Abuse

we will know who is telling truth n who misleading ppl next week,,,,,beware to those buy call n check back their past history portfolio b4 making any decision

Posted by BRITISHEMPIRE > 2016-10-02 15:16 | Report Abuse

Do you think they would keep the Lazy workers ? They will be the swlected ones for redundacy always get rid of the less productive workers and keep the best. Any good manager worth his salt will follow that procedure.

Posted by skyrider > 2016-10-02 15:57 | Report Abuse

And COINCIDENTALLY all the "lazy workers" were from line 4 to line 6 (COINCIDENTALLY which are part of the expansion lines), and not a single one from line 1 to 3 ?
Your "logic" is so flawed, just like your ang mo kau identity so fake. Sum u up 1 word, CONMAN !

Posted by BN_menang > 2016-10-02 17:04 | Report Abuse

‘Penang losing its lustre’
http://www.thestar.com.my/news/nation/2016/10/02/penang-losing-its-lustre-foreign-investors-turning-away-says-mca-man/

Posted by dragon1 > 2016-10-02 17:07 | Report Abuse

Britishempire - dont make joke of urself.
Are u saying tekseng has 28% of lazy worms in their company.

Posted by dragon1 > 2016-10-02 17:08 | Report Abuse

I am sure britishempire is part of the operator la.

Posted by dragon1 > 2016-10-02 17:10 | Report Abuse

Britishempire will earn or win if u guys BUY. N is buying from them who hold lorries of stock.

Posted by BRITISHEMPIRE > 2016-10-02 17:36 | Report Abuse

SKYRIDER AND DRAGON 1 you purely show your IGNORANT and STUPID nature by your insults. Please sell your shares and move in to your place at KINDER GARDEN.

Posted by kevin008 > 2016-10-02 18:01 | Report Abuse

Assume solar business profit cut half..i believe tekseng profit still able to reach 13m per qtr
Annual eps 0.15(13m x 4 /346m shares)..base on price now pe 6.93
Dividend policy 30%..base on price now dividend yield 4.33%(0.15 × 30%/1.04)
Be a value investors..Please think urself this counter is overvalue or undervalue
I believe solar power business still demanding in future

Posted by Hunter Cho > 2016-10-02 22:13 | Report Abuse

i have seen this sort of cycle happening before as it is human nature - when it is cheap, they will say don't buy it will be cheaper. when things become expensive, they will jump in like no tomorrow

Posted by Hunter Cho > 2016-10-02 22:14 | Report Abuse

Mr. Loh bought 3 million shares at RM1.16 then another 3 million shares at RM1.23.

Posted by Hunter Cho > 2016-10-02 22:15 | Report Abuse

maybe Mr. Loh is not aware of his business to buy more shares at higher prices

Posted by Woo John > 2016-10-02 22:30 | Report Abuse

If TS committed wrongly they will be punish by authority concerned. Case closed.

Posted by Olga > 2016-10-02 23:50 | Report Abuse

skyrider Fake ang mo kau BRITISHEMPIRE out to mislead ppl again. The staff were lay off due to unmet
business forecast, not because the they were lazy!

"GEORGE TOWN (Sept 29): Penang government says the latest retrenchment exercise at a unit of Penang-based Tek Seng Holdings Bhd was due to the company's redundancy caused by unmet business forecast, and is not reflective of the state's employment climate.

InvestPenang general manager Loo Lee Lian said in a statement today that the agency has been informed of the reason for the 180-staff retrenchment by TS Solartech Sdn Bhd, Tek Seng's solar cell and module manufacturer based in Penang Science Park."
02/10/2016 14:04


GEORGE TOWN (Sept 29): Penang government says the latest retrenchment exercise at a unit of Penang-based Tek Seng Holdings Bhd was due to the company's redundancy caused by unmet business forecast, and is not reflective of the state's employment climate.

InvestPenang general manager Loo Lee Lian said in a statement today that the agency has been informed of the reason for the 180-staff retrenchment by TS Solartech Sdn Bhd, Tek Seng's solar cell and module manufacturer based in Penang Science Park.

“TS Solartech recently announced the retrenchment of 180 operation staff recently hired on contract, who were on probation employment, and this is out of a total of 400 hired during that period. The affected staff were also offered alternative employment in another factory of the group,” she shared.
InvestPenang stands for Invest-in-Penang Bhd.

Loo asserted that the retrenchment is a management exercise that does not reflect employment climate in the state nor the industry.

She cited a report by analytics firm, IHS Markit, which had noted that the global photovoltaic (PV) module shipments would exceed 2015's shipments by 10%, with revenue forecast to hit US$41.9 billon.

“Two other major solar cells and modules manufacturers in Penang are not only unaffected, but are actually in expansion mode. This expansion by a solar company will be announced soon,” she said.
Loo also said job creation remains a primary focus of InvestPenang, in attracting new investments and re-investments.

“The restructuring exercise of companies closing down and opening up is a normal phase of the manufacturing industry, in line with technological advances and changing market conditions.

“There will be retrenchments and new hirings, but the net effect will still be positive this year, in terms of job opportunities for Penang,” she said.

Loo pointed out that new job opportunities are still being created in the manufacturing/industry sector, as well as the growing global business services sector in Penang.

Posted by Olga > 2016-10-02 23:53 | Report Abuse

1. definitely not because they were lazy
2. the retrenchment of 180 operation staff recently hired on contract, who were on probation employment, and this is out of a total of 400 hired during that period.
3. “Two other major solar cells and modules manufacturers in Penang are not only unaffected, but are actually in expansion mode. This expansion by a solar company will be announced soon,”
4. “The restructuring exercise of companies closing down and opening up is a normal phase of the manufacturing industry, in line with technological advances and changing market conditions.

Posted by VilyVi > 2016-10-03 03:29 | Report Abuse

TEKSENG 只是预定的7月扩充计划受阻，並非伤筋伤骨。 这次的下杀太狠太有效力了。应该是有心人为之！等收票收够了， 就会布局往上杀。让我们静以观之！

Posted by Jimstock > 2016-10-03 13:46 | Report Abuse

New line installed with zero output. Depreciation of this lines will kill profit from old existing line. Dont forget money borrowed for expansion campur lagi interest from bank dont hope so much. Any chance to run better run like hell.

Posted by Hunter2016 > 2016-10-03 14:48 | Report Abuse

Share uptrend before is because of the proposed expansion project, now hope for expansion gone..and global demand slow..China competitor..low oil price..etc..

Posted by kevin008 > 2016-10-03 15:06 | Report Abuse

Salary n staff benefit saving sure more than this depreciation
Assume solar business profit cut half..i believe tekseng profit still able to reach 13m per qtr
Annual eps 0.15(13m x 4 /346m shares)..base on price now pe 6.93
Dividend policy 30%..base on price now dividend yield 4.33%(0.15 × 30%/1.04)

Posted by kevin008 > 2016-10-03 15:17 | Report Abuse

According to jun16 qtr
Salary allowance n bonus 2.462m
Depreciation 166k
Finance cost 286k

Still wan to talk rubbish? Boss cut staff cost we shd thx to him.is good for company and shareholders

Posted by Hunter2016 > 2016-10-03 15:24 | Report Abuse

Investor hope the expansion will bring 10mil more annual profit to the company but now all hope gone. That is not a matter of salary n staff benefit saving.

Posted by kevin008 > 2016-10-03 15:29 | Report Abuse

I know the expansion will be postpone
Why the ppl still wan to talk all the bad things while the pe just 6-7
If not interest in this counter ..why u all concern so much

Posted by kevin008 > 2016-10-03 15:30 | Report Abuse

Simply said the finance cost n depreciation over the staff reduction cost
Go check the jun16 qtr before u said
Wat intention to talk so many rubbish things

Posted by VilyVi > 2016-10-03 16:54 | Report Abuse

If you are interested, you may take note of following

1: Tekseng production expansion is delayed, doesn't mean it will not be resumed in near future.

2:The lines already installed, Neo Solar Power has to compensate Tekseng if orders not fulfilled, in millions per quarter. Tekseng would not incurs lost even if the lines are idling. To minimize the compensations,NSP would definitely load the idling lines once Market demands pick up, which is expected to be towards 4th Q of 2016. (If news is correct, the new installed lines were sold by NSP to Tekseng for +RM 100 millions and not transferred for free, thus NSP has to guarantee minimum orders to TS, otherwise it has to pay compensation).

3. In order to get away the US & EU anti-dumping tax, it is already a trend for Taiwan Solar companies to transfer part of their production to SE Asia (Vietnam, Thailand & Malaysia). In Malaysia, other than Tekseng there is no other better choice for the Taiwanese companies if they want to find a suitable partner, so Tekseng future expansion opportunity is always bright.

Posted by VilyVi > 2016-10-03 17:13 | Report Abuse

Please note, above are personal views for sharing, not a buying call.
Be warned, this is a very high risk counter !!!!

Posted by BRITISHEMPIRE > 2016-10-03 18:11 | Report Abuse

Ar last some other people who understand the outstanding potential of the company !

Posted by Jimstock > 2016-10-03 18:26 | Report Abuse

Good luck k008. If depreciation only 166k peryear then ts must be buying toys :))

Posted by kevin008 > 2016-10-03 18:45 | Report Abuse

166k 1 qtr la..go read qtr report only comment

Posted by skyrider > 2016-10-03 18:50 | Report Abuse

VivyVi, pls allow me to answer u categorically:

1. Expansion may resume, but not necessary in near future as "Oversupply Will Prevent Global PV Market From Recovering in Near Future"
http://pv.energytrend.com/research/Oversupply_Will_Prevent_Global_PV_Market_From_Recovering_in_Near_Future.html

2. Even if expansion is resumed for NSP, the margin for line 4 to 7 is low relatively to other line as it is based on cost plus basis, (which is why Tekseng has this compensation deal if NSP does not meet minimum order - it is like Tekseng give in profit margin, NSP give compensation assurance)
大華繼顯分析員認為，德成集團的裁員舉動料對該公司的影響不大，原因是此次裁員的開銷將由客戶承擔。

分析員解釋說，德成集團的第4至第6條生產線已由台灣的客戶承包。該客戶在簽訂最低數量的訂單后，若是無法達到最低訂單要求，將作出賠償。而且該公司也可將成本轉嫁給客戶。

「德成集團第4至第7條生產線已簽訂5年的訂單合約，及5年可選擇性續約。」

同時，分析員稱，上述生產線的賺幅較其他生產線低，預計每年貢獻500萬令吉，或相等于2017財政年盈利的10%。

3. As Tekseng already work with solartech, no other taiwanese pv company will work with Tekseng, except for cases like NSP where Tekseng only got low margin.

Posted by skyrider > 2016-10-03 21:34 | Report Abuse

Line 4 to 7 for Neo solar Polar, if operational, can only bring in RM5 million total profit per year, which is only RM1.25 million profit per qtr. That is extremely LOW !

Posted by VilyVi > 2016-10-03 22:08 | Report Abuse

Skyrider, you brought up an interesting point, we all know that the recent excessive sell down is due to a "Retrenchment Letter" appeared in newspaper, not reasons like solar cell price erosion or the new installed lines have low margin, etc..., (newspaper never mentioned these).., and from your above input, UOB Analyst stated that the retrenchment issue has no impact to Tekseng performance. So, if the retrenchment impact is a false alarm, the motive behind the excessive sell down as planned by somebody is worth to ponder about... just my 2 cents

Posted by CKSipoh > 2016-10-03 22:34 | Report Abuse

pls read Carefully n don't mislead ppl

BEIJING: A sharp increase in solar power production in China and a sharp fall in domestic demand have sparked a sudden surge of cut-price exports, undermining a China-EU agreement to limit damage to European producers.

China produced 27 gigawatts (GW) of solar photovoltaic (PV) modules in the first half of 2016, an increase of 37.8 percent and installed 20 GW of new solar power capacity in the same period, three times as much as the same period a year ago.

However, demand has since tailed off. Solar projects operational since July face a reduced price paid by grid operators for their power. The China Photovoltaic Industry Association (CPIA) has forecast total new capacity by the year-end will be 30 GW, implying just 10 GW in the second half.

EU ProSun, an association of EU solar producers, says the price of some panels had fallen to below 0.40 euros per watt, compared with a previous average European price of about 0.50 euros.

EU ProSun president, Milan Nitzschke, said that prices had come down by some 20 percent in the past month to below the cost of production.

"We fear a second wave of bankruptcies," he said.

The European Union and China were on the verge of a trade war in 2013 over EU allegations of dumping of solar panels into the bloc. The investigation was the largest in EU history, given the value of such exports was 21 billion euros (US$23.6 billion) in 2011.

That trade war was averted by agreeing a lower amount of Chinese panels could be imported free of tariffs as long as they did not price them below a minimum initially set at 0.56 euros.

However, having signed up to the undertaking, an increasing number of Chinese firms have chosen to opt out considering it better to sell at even cheaper prices, even when faced with duties of between 27.3 and 64.9 percent.

JinkoSolar Holding Co became the latest to withdraw from the undertaking last week, saying the minimum price no longer reflected the market reality.

Maggie Ma, chief financial officer of Renesola, another company no longer part of the undertaking, forecast that the third quarter would be "sluggish" after China cut preferential tariffs.

Miao Liansheng, chairman and CEO of Yingli Green Energy, said in the company's first-half report that it faced challenges and lower selling prices in the second half because of increasing competition and higher anti-dumping duties in the United States. -- Reuter

Posted by CKSipoh > 2016-10-03 22:37 | Report Abuse

fyi,,,EU n us never banned China solar panel product which claimed by wahaha

Posted by TomyamGong > 2016-10-03 22:43 | Report Abuse

Free calls again tomorrow. Hahaa.. those who previously highly promoted this counter all are hiding. Diam diam sapu or diam diam selling now? Hahaa

Posted by dragon1 > 2016-10-03 22:56 | Report Abuse

VillyVi- please take note that the downfall started since the last quarter announcement date and not only last 2 weeks. The retrencement issue is just another wave hit to the share price and finally exposure the company latest situaton.

Many of us here are tekseng investors or ex-tekseng investors. We might invest even earlier than you.
We try to speak out because we see some people are trying to miead people. Pls tell me where is erkongseng?

Share price might rebound because it dropped too fast.
But the question, can it back to 1.30? You should ask yourself looking at current solar company.
If u are buying for rebound, go ahead.
If buying for mid term, u need to re-consider.

Posted by goldenluck16 > 2016-10-03 23:15 | Report Abuse

TS can't reach RM 1.30...for the next few years

Posted by skyrider > 2016-10-03 23:16 | Report Abuse

VilyVi, UOB, knowing line 4 to 7 for Neo Solar Power, if operational, will only bring in low profit, surely would say no impact to performance due to the retrencement.
However, I believe many Tekseng investors are not aware of the low profit for these expansion lines, and they have fried up the stock price in anticipation of hugh profit to be brought by this expansion.
Now, no more expansion, naturally price deflate, don't think it is planned by somebody ...just my 2 cents.

Though UOB analyst said the retrencement has no impact, he however said profit will be impact by the recent solar cell price erosion, and change call to sell at TP RM1.05.
If one want to take heed of the UOB retrencement no impact theory, maybe u should also take heed of his profit impact by solar cell price erosion theory.
另外，根據《Energy Trend》的報道，雖然太陽能需求處上升趨勢，但太陽能晶片的售價在9月下滑，主因為供應商競爭激烈及美國市場可從其他免稅供應商拿貨。

分析員認為，德成集團2016財政年將取得明顯的成長，但由于太陽能晶片價格趨軟，因此今年下半年盈利料不及上半年。

整體而言，該分析員將德成集團今明兩年的太陽能板平均售價分別下調13%和17%，至每瓦30美分至32美分，並將該股投資評級下調至「賣出」，目標價為1.05令吉。

Posted by optimus9199 > 2016-10-03 23:18 | Report Abuse

luckily managed to sell all at 1.29 before the crash

Posted by VilyVi > 2016-10-03 23:24 | Report Abuse

Dragon1, Thank you for your advice. You got the points.

Posted by Lk036 > 2016-10-03 23:49 | Report Abuse

R ah seng going to sleep mode soon once this negative over. My prediction ah seng difficult up as solar price not encouraging plus retrenchment issue.

Posted by VilyVi > 2016-10-04 00:24 | Report Abuse

Dear All,

Thank you for your inputs and advices and your time. I realize that I could not be sure of future developments in Tekseng TS, viz whether it could resume its original expansion plan by next year or next few years, but one thing which can be very sure now is world wide Solar Cells price and Solar Panels price are dropping drastically. I would not touch Tekseng at the moment to avoid risks due to factor of product price dropping, unless in future the Solar product demands & pricing rising back again.

Special thanks to Skyrider and Dragon1 for your sincere advices. Cheers!

Posted by solarboy > 2016-10-04 09:27 | Report Abuse

Penang says latest bout of retrenchment not reflective of the state's employment climate
By Supriya Surendran / theedgemarkets.com | September 29, 2016 : 5:00 PM MYT


GEORGE TOWN (Sept 29): Penang government says the latest retrenchment exercise at a unit of Penang-based Tek Seng Holdings Bhd was due to the company's redundancy caused by unmet business forecast, and is not reflective of the state's employment climate.

InvestPenang general manager Loo Lee Lian said in a statement today that the agency has been informed of the reason for the 180-staff retrenchment by TS Solartech Sdn Bhd, Tek Seng's solar cell and module manufacturer based in Penang Science Park.

“TS Solartech recently announced the retrenchment of 180 operation staff recently hired on contract, who were on probation employment, and this is out of a total of 400 hired during that period. The affected staff were also offered alternative employment in another factory of the group,” she shared.

InvestPenang stands for Invest-in-Penang Bhd.

Loo asserted that the retrenchment is a management exercise that does not reflect employment climate in the state nor the industry.

She cited a report by analytics firm, IHS Markit, which had noted that the global photovoltaic (PV) module shipments would exceed 2015's shipments by 10%, with revenue forecast to hit US$41.9 billon.

“Two other major solar cells and modules manufacturers in Penang are not only unaffected, but are actually in expansion mode. This expansion by a solar company will be announced soon,” she said.

Loo also said job creation remains a primary focus of InvestPenang, in attracting new investments and re-investments.

“The restructuring exercise of companies closing down and opening up is a normal phase of the manufacturing industry, in line with technological advances and changing market conditions.

“There will be retrenchments and new hirings, but the net effect will still be positive this year, in terms of job opportunities for Penang,” she said.

Loo pointed out that new job opportunities are still being created in the manufacturing/industry sector, as well as the growing global business services sector in Penang.

“In the interim, those affected by job displacement can contact the Penang Career Assistance and Talent Centre at www.penangcatcentre.my for assistance to find new job opportunities.

“Penang still requires more workers, at least 20,000, in line with the state recording one of the lowest unemployment rate in the country of 1.5%,” Loo concluded.

Since news broke of the retrenchment exercise on Sept 27, Tek Seng’s share price has dropped by 19% to close at RM1.04 yesterday.

Today, Tek Seng's shares have continued declining, hitting as low as 99 sen, after a 4.8% retreat, before regaining some losses.

As at 4.28 p.m., it was down 2 sen or 1.92% at RM1.02, valuing it at RM353.5 million.

Posted by Noni > 2016-10-04 09:49 | Report Abuse

Any heavy T+4 selling today?

Posted by Patrick13 > 2016-10-04 10:05 | Report Abuse

Today still is selling trend

Posted by traderman > 2016-10-04 11:44 | Report Abuse

no sign of rebound unless company release good news.

Posted by Patrick13 > 2016-10-04 15:04 | Report Abuse

SmartInvestor you are right. I also dun wan the situation like you mentioned.

Posted by kelanajaya2 > 2016-10-04 15:55 | Report Abuse

TEKSENG gone case liao... very regret now.... 100 lots on hand....bought at 1.09

Posted by gov5334 > 2016-10-04 15:58 | Report Abuse

time to refill then and wait the show