Ajiya 1H2013 results came out yesterday. EPS for 2nd Q is 9.49 sen and for 1st H is 15.23 sen. for previous year EPS was 25.68 sen and dividend was 3 sen. NTA as at 31/05/2013 was rm3.45 for last 5 years FY closing, EPS and (dividend) as follows : 2012 : 24.73 sen (3 sen). 2011 : 26.78 (6) 2010 : 27.56 (6) 2009 : 31.21 (6) and 2008 : 32.31 (6) Today the closing px was rm2.14, up 11 sen after a high of rm2.20 It can be seen that its earnings are very consistant and is good for long term investment.
Ajiya's subsidiary is involving manufacturing of Glasses, currently, A lot of high rise condominium and offices are bounce to use its glass, I guess its glass is selling like a hot cake
see the last quarter result. The debt receivable but over due >120 days (consider bad debt) up to 21M. The profit only how much? The bad debt almost 34 sen per share.
1) The Construction Boom in Iskandar will Need a Lot of Gasses For All High Rise Buildings. Ajiya will benefit the most as its factories are in Segamat.
2) P/E Single digits for many years until lately
3) NTA is a Solid RM3.65
4) Selling at more than 30% Discount to NTA provide a Margin of Safety.
This counter very less volume, difficult to buy/sell. The major shareholder acquired 1,304,505 @2.10 on 29 April 2014. Price hit highest @2.82 on August 2014. Now price fall more than 25% http://www.klse.my/insider/changeInShareholding/director/203370.jsp NTA high, but this counter no liquidation. I do not think this is good buy.
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....
Kim Yap Lau
455 posts
Posted by Kim Yap Lau > 2012-04-15 13:07 | Report Abuse
Can Ajiya come?