what is this means "Tax Exempt Interim Dividend of 2.0 sen per ordinary shares of RM0.50 each.". E.g, buy 10 lots at price 1.00,so what is total of dividend received?
10 lots (old measurement) = 10,000 unit, so tax exempt net dividend is -> 10,000 x 2.0 sen = rm200..need to clarify with people first if they are using old or new measurement..
they are paying out dividend every quarter but the earning figure is dropping for the last 2 quarters already. However, on year to year basis, it is improving
not a diversify company, one core business only. A bit vulnerable in my opinion.
most of investors expecting it to behave like Daibochi. Not sure the how long the spill over effect from Daibochi will last.
crude oil price is stable now. The higher cost will eventually passed on to the end-users. Prices have been flat for a while. Time to accumulate more now.
From bad to worse Tomypak’s 2Q14 net profit was a disappointing 38% below our expectations, with 1H14 net profit accounting for only 23% of our full-year estimate. The weak 2Q net profit was mainly due to lower domestic sales and higher operating costs. We cut our FY14-16 EPS forecasts by 32-42%. This lowers our target price, still based on 7.8x CY15 P/E, a 40% discount to Daibochi’s 2015 13x P/E target. The stock remains a Reduce. Potential de-rating catalysts include further deterioration in EBITDA margins and declining domestic sales. For exposure to the sector, we prefer Daibochi. 1H14 net profit down 67% yoy Although Tomypak’s 1H14 revenue was only down 4.9% yoy, its 1H14 net profit was down a huge 67%. Interim DPS was only 1 sen, also below our expectation. YTD, a total of 3 sen DPS has been declared. Other than higher electricity and labour costs, the company attributed its weak 1H14 results to declining domestic sales. 1H14 local revenue was RM46.5m, down 20% yoy, which is a major concern. Although the lower revenue was compensated by higher export revenue (1H14 +10% yoy), we understand that the profit contribution from exports has been affected by stiff competition. Deteriorating profit margins Since 2Q12 (refer to Figure 2), Tomypak’s EBITDA margin has been falling. 2Q14 EBITDA margin was only 8.4% compared to 18% two years ago. Its peer, Daibochi (DPP MK, Hold), is managing the current high operating costs environment much better. Daibochi’s EBITDA margin has been stable at 13-14% over the past few quarters. We believe one of the reasons why Daibochi is doing better is its stronger quarterly revenue since 3Q13 (refer to Figure 3), offering it greater economies of scale. Until we see signs of stronger topline growth for Tomypak, its profit margin is expected to remain under pressure. Balance sheet remains healthy As at end-Jun, Tomypak has a net debt of RM18m or 0.2x net gearing. The company can easily gear up if it needs funds to finance any major capex. It should not have any problems paying out dividends either.
The former MD is selling his stake to M/s New Orient Resources Sdn. Bhd. (Company No. 1109740-K). Anyone have any info regarding this new shareholder? Is it good for the company?
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....
lim elayne
14 posts
Posted by lim elayne > 2012-04-18 09:54 | Report Abuse
any opinion on this counter! Can buy?