Posted by suregain > 2017-06-30 22:35 | Report Abuse

Wont drop much la.. where got up wo recently? Not like other counters tat goreng high high b4 result

Posted by Skliew > 2017-06-30 22:35 | Report Abuse

Niki

You earlier worried the expansion only grow 30%....actually, it is 30% initially... with potential to DOUBLE the existing capacity ! :)

Looking at the QR closely, TOTO is right on, that the profit before tax dropped a little yoy. The previous quarter had a tax write back of RM 690K and this quarter a tax of RM1.251M making a sharp difference of 1.941M

I think this is a buying opportunity....I will add...:)

Posted by huikong > 2017-06-30 22:59 | Report Abuse

TP 1.00?

When same industry Magni can make double profit, but prolexus just half profit. This company management maybe really got problem and lousy.

Posted by anonboy > 2017-06-30 23:40 | Report Abuse

The group expects the coming quarter to be challenging.

Oh, too bad

Posted by anonboy > 2017-06-30 23:43 | Report Abuse

Prolexus' 3Q profit down 54% on lower contribution from apparels division http://www.theedgemarkets.com/article/prolexus-3q-profit-down-54-lower-contribution-apparels-division

Posted by anonboy > 2017-06-30 23:47 | Report Abuse

The company's future prospects are not good. Don't hold the stock.

Posted by valuelurker > 2017-06-30 23:57 | Report Abuse

This sozai stock...what expansion, current capacity also cannot maintain profits, when Nike is making record profits. Because of this crap magni is going to be dragged along. Even taking into account its net cash, this stock nowhere near magni. And dont even get started on its warrants. It does not have economies of scale, and with the latest results, clearly it does not enjoy the same relationship with nike

Posted by Apollo Ang > 2017-07-01 00:07 | Report Abuse

mon surely open below 1.50

Posted by Skliew > 2017-07-01 00:07 | Report Abuse

WALAO EH!
Suddenly so many negative guys come and bombard together!

All talking the same language!
It is organised or coincident ?

Posted by Apollo Ang > 2017-07-01 00:12 | Report Abuse

bad must say bad,if good mah say good lo....got to be fair to all

Posted by Skliew > 2017-07-01 00:21 | Report Abuse

PROLEXUS 5 YEARS RECORDS OF REMARKABLE GROWTH SPEAK FOR ITSELF.

PROBABLY EXPERIENCING TEMPORARY HICCUP....


RM’000
Financial Results:
FY...........2012.....2013.......2014.......2015......2016.
Revenue 189,498 235,545 294,113 350,340 402,737
Profit before tax 10,568 19,404 24,173 31,055 40,686
Profit for the year 10,836 17,162 20,801 24,023 33,247
Profit attributable to owners of the Company 9,961 15,449 18,487 20,772 28,349
Financial Position:
Total assets 90,507 114,980 149,910 192,074 303,821
Paid-up capital 40,000 40,000 40,870 57,931 88,389
Shareholders’ funds 59,048 74,114 92,694 114,455 196,405
Financial Ratios:
Earnings per share (sen)** 8 12 14 15 19
Dividend per share (sen)* 1.5 3.0 3.5 4.2 3.3
Dividend amount (RM’000)* 830 1,863 2,688 4,649 4,683
Net tangible asset per share (sen)** 44 55 68 81 131

Posted by Apollo Ang > 2017-07-01 00:24 | Report Abuse

don't be in self denial mode,profit is down is likely to down,u be happy if down not more than 10cts

Posted by Apollo Ang > 2017-07-01 00:28 | Report Abuse

market sentiment is bad yet announce bad results,look at LB aluminium today

Posted by Skliew > 2017-07-01 00:29 | Report Abuse

Yes, share price would be down temporary and it would be opportunity for some investors. It would not derail its growth trajectory....

Posted by Skliew > 2017-07-01 00:31 | Report Abuse

I would be happier if I can collect at lower prices next week... Haha!

Posted by Apollo Ang > 2017-07-01 00:34 | Report Abuse

better don't be stubborn,later regret is too late

Posted by suregain > 2017-07-01 00:35 | Report Abuse

Lbalum goreng high b4 result.. prlexus no goreng b4 result, so d down efect not so severe

Posted by Apollo Ang > 2017-07-01 00:39 | Report Abuse

lbalum down more 12% before recover some to close 9% down....prlexus likely down 10cts then recover a bit back

Posted by suregain > 2017-07-01 00:41 | Report Abuse

No la.. prlexus 4 weeks range is 150 to 160.. so tight range, unlikely to down 10sen

Posted by Apollo Ang > 2017-07-01 00:48 | Report Abuse

should break 1.50 is for sure

Posted by Money > 2017-07-01 07:46 | Report Abuse

Ppl expected lb will be in high profit, its sure fell kao kao if below expectation.
Prlexus is in another way.

But if its can fall to rm1.3 range, its good news for all also.

Posted by Skliew > 2017-07-01 09:23 | Report Abuse

I bought Prlexus for its expansion and Growth Story ...

1) its new plant in Vietnam which is supposed to start operation in 1QFY18, i.e. Aug-Oct 2017, just a few months away, which will initially enlarge the co's capacity by 30% and with the potential of doubling the capacity in future.
2) its new fabrics factory in Kluang which is supposed to start operation in 2QFY18 i.e Nov17-Jan18. This will ENHANCE the margin apart from generating additional revenue from sales of the fabrics to other manufacturers.

Prlexus invested heavily in the past 3 years since 2014 in Plant and equipment which has increased to RM88million book value as at 30th April 2017 from about RM42million as at 31st July 2013.

This excludes the land use right of about RM12million..for the land in Vietnam...

The company has a long time business relationship with Nike since 1987 which accounts for approx 60%- 70% of its revenue and other branded apparel manufacturers account for approx 30%.

With the expansion, the machineries and equipment would be relatively new and thus should be more efficient.

However could the management deliver upon the completion of the capacity expansion?

Prolexus' RM88million in Property and equipment is relatively high as compared to others...

To my surprise, Magni has far less than that and yet
produced more than RM 1 Billion in revenue for its FY17.

The expansion programme is just about completing and will commence production in the 2nd half of this Calendar year amidst disappointing current quarter results and the unknown next quarter....

Should I sell for the disappointing current quarter results or should I buy for the "exciting" expansion and Growth which is just round the corner...?

:)

Posted by nikicheong > 2017-07-01 09:33 | Report Abuse

Yeah I know, 30% initially, but we don't know how soon/how fast they can ramp up production to increase utilization rates. Even the 30% initially is a question mark.

But just look around you...many younger and middle age people are becoming health conscious today. Surely the sports apparel market is on a secular upward trend for the mid to long term. Prolexus business should be secure, but it may take time to bear fruits and reach economics of scale at the new plants.

I share this quote by Charlie Munger about long-term investment orientation:

https://s-media-cache-ak0.pinimg.com/736x/27/77/b7/2777b75dbeec3bf4573290dbba305e9e--charlie-munger-gladiator-quotes.jpg

Posted by Skliew > 2017-07-01 10:18 | Report Abuse

Niki,
Thanks for the quotation.
:)

Btw,

I further checked from AR16 that the PPE of Prolexus as at 31st July, 2016, RM49million in the factory buildings and land ...other machineries and equipment maybe around RM40 millions..

:)

Posted by anonboy > 2017-07-01 10:20 | Report Abuse

The next QR is likely to be disappointing as well.

Posted by Skliew > 2017-07-01 10:23 | Report Abuse

Niki,

After the capacity expansion, the company would be in a position to receive big orders from customers like NIKE....otherwise the management would not have go for the expansion if there is no market out there for the surplus capacity built with hard cash raised from the rights issue....:)

Posted by VenFx > 2017-07-01 10:41 | Report Abuse

Skliew,
u may apply the Recently appreciation of the 5 years for Land & Properties value ; over time Magni acquire period.
That, u may have a better answer.

Posted by avex546322 > 2017-07-01 10:51 | Report Abuse

Inventory and receivable both drop compare to previous year, not a good sign.

Posted by Apollo Ang > 2017-07-01 11:01 | Report Abuse

there is no denial prlexus will up on mon, 101% opening down 5cts or more

Posted by Skliew > 2017-07-01 11:47 | Report Abuse

Venfx,

Thanks..

Yes, the properties held by Magni at book value is way understated...:)

Posted by Skliew > 2017-07-01 12:47 | Report Abuse

http://www.cnbc.com/2017/06/29/nike-reports-fourth-quarter-earnings.html

Nike's revenue for last FY is USD8.68 Billion. Certainly Very BIG to accommodate good and quality players..

Those who can deliver would have a cut of the cake!

If Prolexus' management cannot deliver, someone please go and take over!! LOL!

Posted by Lynnett Kang > 2017-07-01 13:01 | Report Abuse

U guys throw ~~ I buy~~ buy for long term ~ don't panic selling~~

Posted by Lynnett Kang > 2017-07-01 13:09 | Report Abuse

Inventory & receivable reduce is a good thing, debtor reduce, mean improve on collection, no good to keep too much stock as well

Posted by Money > 2017-07-01 13:11 | Report Abuse

Can buy in rm1.30 on monday???
1days 25cents drop ,possible?

Posted by Lynnett Kang > 2017-07-01 13:18 | Report Abuse

I think not possible o, need to wait slowly .. haha.. who wan to sell at 1.3 to me.. I buy

Posted by angcl > 2017-07-01 13:39 | Report Abuse

My gosh!!! Revenue down by 20%, Profit down by 50%!!!

Posted by hanhui1991 > 2017-07-01 13:43 | Report Abuse

the tax paid was very much higher....1.25million...

Posted by Lynnett Kang > 2017-07-01 13:50 | Report Abuse

This is bcoz of under provision of prior year tax about 1.02mil ,a profit co only need to pay tax. Somemore this is a prior year adjustment. Based on historical data, the 3rd quarter result not so high as compare from 1st, 2nd & 4th quarter, which is foreseeable due to seasonality lowest revenue quarter.

Posted by Obsidian > 2017-07-01 14:05 | Report Abuse

magni results so leng, this so laoya haha

Posted by angcl > 2017-07-01 14:36 | Report Abuse

Just wondering RM200 to RM500 branded sport item is still affordable nowadays? I believe most of the ppl will get one similar sport item at RM10 to RM50 at pasar malam.

Posted by angcl > 2017-07-01 14:39 | Report Abuse

Hope there is share buy back by prolexus next week..

Posted by Skliew > 2017-07-01 15:22 | Report Abuse

Magni's 4th Quarter (Feb-April) revenue also used to be the lowest of the 4 quarters. This year is exceptionally good. ... don't know the reasons?

Nike FY17 Revenue is USD 8.68 Billions. So do you think out there are people buying their products ?

Posted by suregain > 2017-07-01 15:22 | Report Abuse

Prlexus do,export msrket.. u cheap ppl like ti buy at pasar malam.. low,class ppl

Posted by Skliew > 2017-07-01 15:33 | Report Abuse

Taxation
2017 ........2016 ......2017 ......2016
RM’000. ...RM’000...RM’000 RM’00
1,251....... (690) ......5,813 .....3,649
Individual Quarter... Cumulative Quarter
30 April..................... 30 April
The cumulative quarter effective tax rate of the Group is lower than the statutory tax rate due principally to
utilisation of unabsorbed tax losses brought forward in the local subsidiaries and tax incentives being enjoyed by the
foreign subsidiaries.

The individual quarter effective tax rate of the Group is higher than statutory tax rate due to inclusion of under
provision of prior year tax of RM1,017,000.

Posted by Skliew > 2017-07-01 15:36 | Report Abuse

So much hidden figures made results looked so BAD!!!

BUY !! BUY !! BUY!!


Disclaimer: Buy at your own risks! LOL!

Posted by FairyTail > 2017-07-01 20:32 | Report Abuse

why individual quarter need to have inclusion of prior year tax RM 1,017,000?

Posted by Tai KT > 2017-07-01 21:16 | Report Abuse

Not that bad lah, still profit mah.

Posted by Tai KT > 2017-07-01 22:10 | Report Abuse

Identify the weak quarter is short term or long term?
Is the price justify ?
Epf keep buying and it means something?

Posted by shareinvestor88 > 2017-07-01 22:30 | Report Abuse

Sell target 50c

Posted by popo92 > 2017-07-01 23:25 | Report Abuse

There's still big opportunity when i look at the expansion line are so close from now. But, i still gotta say i am quite disappointed when comparing to magni ...