Posted by Sardin > 2023-05-25 14:04 | Report Abuse

Or maybe that big fish pursue other stock which he has no patience to wait

Posted by Sardin > 2023-05-25 14:11 | Report Abuse

Or someone purposely did that to chop of the hands of a hostile banker who use borrowed money to hold the stock. But I think this parang get stuck. Why not suggest a resolution in AGM tomorrow to buy back shares until 2.50? I think everyone will be happy to support.

Posted by Sardin > 2023-05-25 14:13 | Report Abuse

If FPI feel difficult to get new orders then share buy back at low prices is another way to improve earnings for us.

Posted by Sardin > 2023-05-25 14:15 | Report Abuse

It should be equivalent to getting high single digit ROI without much effort put to win new projects.

Posted by Sardin > 2023-05-25 14:36 | Report Abuse

If the big fish plan got jeopardised then he will quickly buy back to minimise lost today and before end of play tomorrow. If it is margin call then price will recover after tomorrow's announcement depends on the earning performance.

Posted by Sardin > 2023-05-25 14:38 | Report Abuse

Small fishes like us will be safe to follow behind the share buy back. Rare opportunity. You have to wait once in a life time investing FPI.

Posted by yong1985cm > 2023-05-25 14:58 | Report Abuse

coming QR should be bad , so the sell down happen yesterday.

Posted by Sardin > 2023-05-25 16:24 | Report Abuse

yong1985cm, Maybe. But if he is insider, why now only take action? If he is not insider, why do we think he knew it earlier? If things are permanently bad, why major shareholders did not run? When company do share buyback, Wistron and 2nd largest shareholder and Mr. Shih himself are those who spent the most in buying back the most. These are board members right? I don't think they will do something against their own interests.

Posted by Sardin > 2023-05-25 16:26 | Report Abuse

If you have 3 bullets to shoot, I think it is a good chance to at least spend a bullet to shoot now.

Posted by pinnaclegrade > 2023-05-25 17:50 | Report Abuse

@Sardin Good catch ! I acquired another 8,000 shares today ^ ^

Posted by monetary > 2023-05-25 21:36 | Report Abuse

Pls check FPI profit & share price performance during yr 07 - 08. At that time car loan interest in us was 6 - 7%. Today, car loan interest rate has risen to thar level again.

Posted by Sardin > 2023-05-25 23:47 | Report Abuse

Expecting a poorer yoy Q1 2023 result but current price has gone too far away from fair value. Actually most of FPI's customers only slightly adjust / reduce FY2023 revenue outlook. I estimate the revenue in Q1 2023 to be somewhere close to RM 200 mil by using various methods.

Posted by chon99 > 2023-05-26 06:20 | Report Abuse

US tech stock NVIDIA' s price surprised the market with an unexpected price jump after winning huge contract for providing AI (Artificial Intelligence) chips.

At the same time Nasdaq index closed up more than 200 points yesterday.

Such wonderful news should auger well for most of the Bursa tech stocks for today ( Friday, 26-05-2023) and coming weeks.

(Just for your information. Not a buy or sell call)

Posted by chon99 > 2023-05-26 06:26 | Report Abuse

Sorry, I mean augur well

Posted by monetary > 2023-05-26 08:31 | Report Abuse

What's good about FPI is too cash rich. Nvr cut dividend during bad time. If get trapped just keep as FD.

Posted by Sardin > 2023-05-26 09:41 | Report Abuse

Warren Buffet said be greedy when others are fearful. I hope he's right this time. ^_^

Posted by Sardin > 2023-05-26 09:43 | Report Abuse

Books and Gurus say don't grab sharp knife. Contradicted. Theories are easy and known by everyone. It is a lot harder to make money because you got to know when theories fail.

Posted by pinnaclegrade > 2023-05-26 10:07 | Report Abuse

AGM started already ! Login your Tricor account

Posted by Sardin > 2023-05-26 11:02 | Report Abuse

Hi Pinnacle, see my pm :)

Posted by cwc1981 > 2023-05-26 11:15 | Report Abuse

Hi sardin later can update some AGM matters here? Din register for attendance.

Posted by Sardin > 2023-05-26 11:38 | Report Abuse

OK OK. Let me have some time to tidy up the things.... the slides were really fast....

Posted by cwc1981 > 2023-05-26 11:53 | Report Abuse

No hurry. Thanks sardin

Posted by Sardin > 2023-05-26 11:57 | Report Abuse

If I can jump to conclusion I would say share price will be able to recover not too long. Busy to do detailed info processing...

Posted by Sardin > 2023-05-26 11:58 | Report Abuse

And so far my stand remains.

Posted by Sardin > 2023-05-26 12:00 | Report Abuse

And Dhando did a good and correct analysis on 2022 EPS.

Posted by Sardin > 2023-05-26 12:04 | Report Abuse

But I tell you I'm still digesting because did not have time to read all yet ya...

Posted by Sardin > 2023-05-26 12:08 | Report Abuse

You know lah the Chairman... some answers need to use brain juice to peel the onion... haha.

Posted by cwc1981 > 2023-05-26 12:18 | Report Abuse

Haha

Posted by Sardin > 2023-05-26 13:01 | Report Abuse

But one thing I beg to differ: use Seair to predict result.

Posted by Sardin > 2023-05-26 17:03 | Report Abuse

Waiting for result...

Posted by cwc1981 > 2023-05-26 17:03 | Report Abuse

Today?

Posted by monetary > 2023-05-26 17:30 | Report Abuse

Sadin. Where is your 200m revenue? Lol!

Posted by Mc_Wei > 2023-05-26 17:34 | Report Abuse

What was mentioned in AGM? Anyone can share? Looks like revenue and gross profit margin are going back to 2016-2017 level...

Posted by pinnaclegrade > 2023-05-26 17:34 | Report Abuse

Ouch .. Monday gone

Posted by monetary > 2023-05-26 17:38 | Report Abuse

I don't understand why u so eager to buy. Can't wait 2 more days for Qr?

Posted by Sardin > 2023-05-26 17:43 | Report Abuse

Hi Monetary. It didn't go as I wish / thought.

Posted by Sardin > 2023-05-26 17:44 | Report Abuse

Mr. Shih said FPI had not lost any customer. And recovery expected in 2H (probably based on order on hand he said that).

Posted by cwc1981 > 2023-05-26 17:59 | Report Abuse

Normal for business with up and down profit. Ppl throw like no tomorrow.

Posted by Sardin > 2023-05-26 18:10 | Report Abuse

Someone asked about the lots of cash held in USD. The reply was to continue to keep in the form of USD in view of its yield etc.... Maybe good interest income due to high interest rate... if 5% per annum this will bring about 10 mil interest income per year. Someone can cross check the net exposure in USD (cash + short-term fund + receivables - payables). Higher parts of receivables in USD and higher payables in asian currencies including RM i think.

Posted by Sardin > 2023-05-26 18:17 | Report Abuse

As for the headcount of workers, the reply was to keep them for optimum level of labour needs. As for machine capacity it is not currently at occupied at optimum level. CAPEX will be 10-20 mil this year for new business and other activities.

Posted by Sardin > 2023-05-26 18:19 | Report Abuse

Excluding forex gain/loss, actual revenue in 2022 was 5% lower than 2021. I think this one everybody is able to find out, just some maths.

Posted by Sardin > 2023-05-26 18:27 | Report Abuse

Hi cwc1981, that's what I have sorted out. As a conclusion I think demand is suppressed at the moment, with USD go a lot stronger in Q2 the profit margin would be widened to partially offset the headwind. I think I would stop here as it is dinner time. :)

Posted by Mc_Wei > 2023-05-26 18:30 | Report Abuse

Profit fluctuation is normal. Revenue drop by half is a concern.

Posted by Sardin > 2023-05-26 18:36 | Report Abuse

This I got from customers' website: Customers are doing stock adjustment (order less) because they still have stock. But they observed the sell-through remain strong. Sell-through means end customers (consumers) buy away from retail stores. Therefore for order to become normal again it has to wait for some time for the stock in warehouse to go to normal level. Most of the customers expect this to take 2 Q, namely Q1 to Q2. Cheers.

Posted by Sardin > 2023-05-26 18:39 | Report Abuse

Also customers want to reduce inventory holding because financing cost will be high (due to high interest rate) plus delivery lead time already improved a lot. So customers no hastle to place order like last year. So you can see this will create a "vacuum" timezone in placing order.

Posted by Sardin > 2023-05-26 18:41 | Report Abuse

That explains the great increase of inventory turn, be it FPI or FPI's customers.

Posted by Sardin > 2023-05-26 18:43 | Report Abuse

I think Yamaha's report explains this too. You can find it out.

Posted by cwc1981 > 2023-05-26 19:18 | Report Abuse

Thank you so much Sardin.

Posted by Sardin > 2023-05-26 19:27 | Report Abuse

If customers want to replenish stock in Q3, then FPI order will increase in Q2 (2 months ahead, value chain from China to Malaysia to US).

Posted by pinnaclegrade > 2023-05-26 20:35 | Report Abuse

Anybody else went for AGM today? Very standard answers to the questions asked by participants ...