Posted by moguiyu > 2018-02-27 12:35 | Report Abuse

next limit up shall be PPHB

Posted by kryzariq > 2018-02-27 16:04 | Report Abuse

got project for coming election ha?

Posted by Sebastian Sted Power > 2018-02-27 17:16 | Report Abuse

QR below my expectation

Posted by trulyinvest > 2018-02-27 17:19 | Report Abuse

Trap... aiyo

Posted by trulyinvest > 2018-02-27 17:23 | Report Abuse

Qoq down yoy down.. very bad result

Posted by koowakzai > 2018-02-27 17:39 | Report Abuse

Profit margins of 8.2% not to bad , same as muda.

Posted by Sebastian Sted Power > 2018-02-27 17:40 | Report Abuse

its not bad but just not good enough

Posted by PoormanTrader > 2018-02-27 17:44 | Report Abuse

Orna lived the hype

Posted by Sebastian Sted Power > 2018-02-27 17:58 | Report Abuse

ORNA hebat!

Posted by stteck > 2018-02-27 18:04 | Report Abuse

Why property value gain is only 1.3 million being recognized? Not 7 million ?

Posted by Jamaica > 2018-02-27 18:33 | Report Abuse

Result no good. Should see a bit improve there but nothing. Better switch to Master tomorrow. Orna a bit high.

Posted by CFTrader > 2018-02-27 19:05 | Report Abuse

1. Oh boi ... today the hype, tomorrow the disappointment ...

2. stteck any reason why 7 million should be the figure but not 1.3 million ?

3. Increase in the manufacturing cost and unrealized loss of foreign currency is the one which dragged down the profit after tax ... this is soften by 1.3m revaluation gain (which is not a real gain) ... If we remove the revaluation gain and focus purely on the operational profit, it is down 40.4% YoY basis ...

Sincerely
CFTrader

Posted by stteck > 2018-02-27 19:22 | Report Abuse

CFT trader , thanks for your analysis. Expecting the share price to drop back to 0.63-0.65 tmr

Posted by dunspace > 2018-02-27 19:58 | Report Abuse

1.Old properties in Penang still not revalued yet.
2. This year very heavy investment into PPE. Fruits won't bear so fast.
3. The sector is growing. Therefore, the heavy investment into PPE.

Posted by dunspace > 2018-02-27 20:01 | Report Abuse

They have proven their expertise in getting a good ROE, I believe they have taken cost measures for years ahead to increase their profit margin while increasing their revenues.

Posted by dunspace > 2018-02-27 20:02 | Report Abuse

In regards to dividend, you can see the they are reinvesting into their development. Therefore, it is not a good time to declare any dividend if the management believes into getting a higher return on their reinvestment.

Posted by stteck > 2018-02-27 23:04 | Report Abuse

Year 2015 and 2016 were exceptional years for the P&L of PPHB where MYR depreciated signifcantly to average 3.91 an 4.14 from 3.27 of year 2014. That led to exceptional forex gain to PPHB of 1.3mil and 1.1mil respectively, whereas in a stable currency period (3.1-3.5) PPHB should have a minimal impact (+/- 300-400K) from the forex affect. in year 2017, the net forex effect is -587k and which has returned to the normal impact. So if without the exceptional impact, the PAT for year 2015 and 2016 should be stood around 13mil and 15mil (the PAT in prior was 11.5mil). And that the PAT of 15mil for year 2017 wasn't look so negative inspite of the upheavel of MYR and paper price in the 2nd half, and it seems things are under control by the management.

Posted by stteck > 2018-02-27 23:10 | Report Abuse

And now PPHB is in a net cash position (total cash > total borrowings), the last 4 years were all negative.

Posted by kryzariq > 2018-02-28 09:31 | Report Abuse

very cheap selling..qr bad gap down, qr good also gap down..oh malaysia traders

Posted by moguiyu > 2018-02-28 10:09 | Report Abuse

众同行脸青青，唯独我脸红红~~~害羞

Posted by CFTrader > 2018-02-28 12:27 | Report Abuse

in reply to dunspace, i have several different view on your statement.

1. Revaluation gain is a paper gain, it's just like " hey, I'm not a millionare, please revalue my house into a value of 2 million so that i can claim myself a millionare" . We the value investor are more concern about real profit, when i say real, i can see the cash flow in. Yes, I'm talking about

2. I'm not quite sure that the increase of cost is due to "heavy investment in PPE" . In the cashflow statement, they just put a "non-cash item adjustment" , but according to the Segment B2, it is due to increase in manufacturing cost. I'll assume it's not due to Heavy Investment in PPE depreciation charge....

3. As per my statement 2.


Regards,
CFTrader

Posted by CFTrader > 2018-02-28 12:31 | Report Abuse

stteck, you are very knowledgeable about PPHB.

I would like to ask your opinion. Removing all the forex factor, what is the organic growth % of PPHB every year ? 10% ? 15 % ?

Posted by stteck > 2018-02-28 14:07 | Report Abuse

Hi CFtrader, after removing all the forex factors, the CAGR (2013-2017) for revenue is 5.2%, opex is 5.0%, EBITDA is 6.3%, PBT is 8.4%, it is below your expectation of 10%-15% every year.

Posted by stteck > 2018-02-28 14:10 | Report Abuse

if without exceptional gain/loss (include revalution gain), the CAGR of PBT is 6.5%

Posted by dunspace > 2018-02-28 14:12 | Report Abuse

@CFTrader,

1. As a value investor, I assume that I am buying not just a share of the company but the whole company itself. How can you say that Revaluation Gain is a paper gain? Assuming you buy the company and wanted to sell some of their properties, are you going to sell the properties at PAST COST? Obviously no, property is also a form of assets in the company, do not overlook it. Future cash flow depends on your judgement, do you believe in the management by looking into their past records? it is up to you, i am just stating that a huge chunk of value is still hidden due to the properties not being revalued.

2. I never mention the increased cost is due to the PPE investment, I say that PPE investment won't bear fruits so fast.

Posted by stteck > 2018-02-28 14:44 | Report Abuse

I am fully agreed with dunspace for #1, when you sell a property at current value (provided current value > cost of purchase), the profit and cash is actually real. It depends on the company's strategy to hold it or divest it for other purpose, but the purpose of revaluation is very clear that the book/accounts are presented in a true and fair view to investors. Bear in mind, revaluation may not be always gain, it may be loss as well.

Posted by dunspace > 2018-03-01 09:04 | Report Abuse

surveying https://klse.i3investor.com/blogs/main/149029.jsp

Posted by monkeyinvestor > 2018-03-05 09:52 | Report Abuse

get some at 0.660

Posted by shamopi > 2018-03-14 20:10 | Report Abuse

Agreed with stteck, bear in mind unless the property was sold at above book value price. This is no a true gain to the Company. It is merely a paper gain

Posted by moguiyu > 2018-03-19 17:06 | Report Abuse

.一枝独秀

Posted by stteck > 2018-03-24 22:50 | Report Abuse

According to the memorandum on sanctions against China signed by Trump in the middle of the night, about $50 billion worth of Chinese imports, which were taxed at 25%, cover everything from shoes, leather, furniture, clothing to electronics. There are about 1300 kinds. At present, the cost of manufacturing in China is no longer competitive compared with Southeast Asia. Once the tariff is increased by 25%, That means they won't be able to find buyers in the United States, and the packaging and printing industries that support them are bound to be affected.

从特朗普半夜签署的制裁中国的“备忘录”来看，被征收25%减税的总价值约500亿美元的中国进口产品涵盖从鞋子、皮革、家具、衣服到电子产品等各个方面，大约有1300种。

目前中国制造的成本与东南亚相比已经无竞争力可言，一旦加征25%的关税，意味着这些产品将在美国找不到买家。而为这些行业提供配套的包装印刷行业也必定受到影响。

Posted by Sebastian Sted Power > 2018-03-27 16:43 | Report Abuse

today seem like company buy back

Posted by husky88 > 2018-04-07 12:33 | Report Abuse

Stteck, you still hold pphb?

Posted by Lim Tek Wai > 2018-04-09 15:37 | Report Abuse

QR below my expectation

Posted by Matthieu Seven > 2018-04-10 15:21 | Report Abuse

My other counter all back to average price but only this garbage counter still drop. I bought 62-63cents also die

Posted by Jo E Foo > 2018-05-20 20:45 | Report Abuse

Anyone has information on PPHB's customer base, ie: what sectors are they mainly from?

Posted by stteck > 2018-05-21 15:42 | Report Abuse

No buy this counter, focus on muda and orna is enough

Posted by AllWin > 2018-05-29 10:51 | Report Abuse

stteck, look at another peer.... Kpscb.

Posted by trulyinvest > 2018-05-29 13:57 | Report Abuse

Stil weak result

Posted by harvestent > 2018-06-07 10:29 | Report Abuse

why this rubbish never move ?

Posted by harvestent > 2018-06-07 10:30 | Report Abuse

anyone want buy queue at 0.6 ? i wan throw out rubbish pphb..

Posted by kyosan > 2018-06-07 12:49 | Report Abuse

this company PPHB should be good...only bcoz they need more profit to boost confidence of investor, new acquisition should be some catalyst,

Posted by stteck > 2018-07-06 00:20 | Report Abuse

https://mp.weixin.qq.com/s/qWikFyCOqLWm8xQ5LXc_gw

2、马来西亚市场空间巨大，升级产品需求广阔

近年来马来西亚包装产业发展迅速，特别是纸包装和数码印刷增长快速。瓦楞包装市场是马来西亚包装产业的重要组成部分，包装产品从农产品为主的食品包装及日用消费品包装开始发展，并随着本地工业经济的快速兴起，逐步延伸到电子消费品、汽车零部件、机械装备等高端领域，产品类型也从全RSC纸箱逐步向紧缩包装托盘和半纸箱包装转变。目前马来西亚拥有瓦楞包装厂商约1000家、彩盒包装厂商约1100家。2016年马来西亚瓦楞包装的整体市场需求大约有130万吨，但目前纸箱厂总产能在1000万吨左右，市场空间巨大。随着行业环保要求的提高和再生材料包装市场的竞争，马来西亚的包装厂商更倾向于高质量、低克重的包装材料，同时再生纸板等材料也在逐步得到推广。

以马来西亚为例，马来西亚GDP从2010年至今累计增长34.9%，年均增长保持在5%以上；工业的快速发展带动了对包装等产业配套的需求，马来西亚市场对瓦楞纸的需求预计超过130万吨，并且保持每年约6%的增长，而目前市场总产能在100万吨左右，市场呈现供不应求的局面，包装行业发展潜力巨大。

Posted by koowakzai > 2018-07-26 08:12 | Report Abuse

Should heading 70 soon

Posted by harvestent > 2018-07-26 09:58 | Report Abuse

shift to muda better.. this rubbish hopeless

Posted by Yael Jasper > 2018-07-26 11:11 | Report Abuse

So good, rising

Posted by Outstand > 2018-07-26 11:13 | Report Abuse

Weird why suddenly the volume goes high not like normal volume

Posted by Lim Tek Wai > 2018-07-26 11:18 | Report Abuse

up up up gogogo

Posted by harvestent > 2018-07-27 15:17 | Report Abuse

hopeless rubbish, lucky yesterday clear @ 0.60 ..

Posted by Wzhai3932 > 2018-08-16 13:06 | Report Abuse

China shortage of paper this sssss 100% muda n orna move ff ffff next will be public ask for a sale by director since last NOV17 l dont tell Sebatian u are right so seat tight