Taliwork share have tumble to very attractive price now at 1.10. With quarterly 2sen dividend payout, annualized 8sen dividend give one of the HIGHEST yeild stock in bursa.
MENU Nikkei Asian Review Sort by Region Nikkei Asian Review Log in Subscribe Home Spotlight Politics & Economy Business Markets Tech & Science Viewpoints Life & Arts Features Regions Log in Subscribe About Nikkei Asian Review
January 30, 2018 10:20 am JST MARKET BUZZ: Hong Leong Cuts Malaysia Taliworks To Hold; Splash Takeover Delay Weighs By Alexander Winifred Nikkei Markets KUALA LUMPUR (Jan 30) -- Hong Leong Investment Bank downgrades Taliworks Corporation to Hold from Buy; lowers target price to MYR1.06 from MYR1.33. Expects company to cut dividends in FY18 as Splash takeover deal unlikely to be finalized before deadline. Notes, negotiations on takeover of Splash by Selangor state government has been postponed again until Jul. 4; receivables owed by the company to Taliworks has risen to MYR587 million. "We believe that any resolution to this long drawn water saga will only gain traction post the 14th general election," house says in investor note. Malaysia is widely expected to hold national elections between March and April. Taliworks shares unchanged at MYR1.08.
SHAH ALAM (May 16): Selangor Menteri Besar Datuk Seri Mohamed Azmin Ali today gave the assurance that the restructuring of the water industry in the state would be finalised soon.
He said it was the main agenda of the State government to immediately get the approval from the Federal government to implement the matter.
taliworks will finally get back the money .....over 500 million. It has been a long wait. Taliworks promised to pay a special dividend . Hope it will be soon.
KUALA LUMPUR (May 22): Taliworks Corp Bhd’s net profit in the first financial quarter ended March 31, 2018 (1QFY18) went up 10.5% to RM7.59 million from RM6.87 million due to higher bulk sales rate (BSR), and lower provision for discounting of trade receivables.
The rise in the quarterly net profit was also the result of more toll revenue coupled with lower operating cost from toll division while impacted by the share of loss from an associate.
Its earnings per share stood at 0.63 sen against 0.57 sen in 1QFY17, the group said in a filing with Bursa Malaysia today.
Quarterly revenue came in 14.5% higher at RM81.72 million versus RM71.35 million last year after taking into account the impact from the provision for discounting.
The board declared a single-tier dividend of two sen, amounting to RM24.19 million for the financial year ended Dec 31, 2018, and payable on July 13, 2018. The ex-date is June 13 and the entitlement date is June 18.
In a separate statement, Taliworks said the quarterly profit growth was due to the rise in BSR to 44 sen per cubic metre (m3) from 42 sen/m3 for Sungai Harmoni Sdn Bhd, and to RM2.24/m3 from RM2.15/m3 for Taliworks (Langkawi) Sdn Bhd starting Jan 1, 2018.
“The lower rehabilitation and maintenance cost for the water treatment, supply and distribution division, along with the higher toll revenue, lower depreciation, repairs and maintenance have also contributed to the overall improved profit after tax,” the company added.
Taliworks executive director Datuk Ronnie Lim said the group’s overall revenue performance is a testament to its stable infrastructure businesses.
It is constantly exploring potential earnings accretive opportunities to provide new recurring and stable source of cash flow to create higher value for its shareholders for the coming years.
“We will continue to re-align our business strategies by focusing on mature, operational cash-generating utilities/infrastructure businesses to further enhance our businesses’ performance,” he added.
Regarding the Selangor water restructuring deal, Lim hoped it would be resolved after the State said the Selangor water industry restructuring exercise would be given priority.
Taliworks said the receivables owed by Syarikat Pengeluar Air Sungai Selangor Sdn Bhd to the group was RM638 million as at March 31, 2018.
Looking forward in the construction segment, the group has three on-going projects and will continue to tender for more infrastructure projects to boost its order book.
It plans to continue to focus on mature operational cash-generating utilities/infrastructure businesses with a view of generating new income stream and a recurring and stable source of cash flow to support its dividend policy.
Taliworks shares closed up half sen or 0.55% at 91 sen, valuing it at RM1.1 billion.
Rating from HL: Upgrade to BUY, TP: RM1.00. Upgrade to BUY with lower SOP-driven TP of RM1.00 (from RM1.06) after earnings forecast adjustment. We deem the possibility of finalization of Selangor water deal highly likely in the near term following changes in the federal administration. Moreover, we opine that the recent sell down of Taliworks stock is overdone as the market is only focusing on uncertainty around the potential abolishment of tolls and has forgotten that the company is also a huge beneficiary of the Selangor water restructuring deal. Our TP is extremely conservative as we do not include the huge amount of receivables owed by SPLASH into our SOP valuation and hence is subject to huge upward revision once the deal is being finalized.
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....
boon1515
422 posts
Posted by boon1515 > 2017-11-18 00:00 | Report Abuse
support sikit at 1.12