what cock u talking? i talking about fcf. u still want to talk about forex. you trading forex or buying stock? exclude 2015 results, analyze 2010-2014 fcf, still average @ bloody 13mil. @9% discount rate & 3% growth rate, it is still worth rm3. A good company with growing business with good upside margin. This is value. Forex gain or forex loss, price up or down, u go ask jesus or buddha. Ohhh. No need. u are one yourself. U have been warning us here since Jan. you have proven yourself right! Big hands for you :)
well, the report is not too bad , guess some unhappy ppl / feared ppl re goin to dump for sure but many re gonna catch with open arm , and flbhd is definitely not falling back to 1.5 ,siao . Am not surprise to see an uptrend on monday , follow by some profit taking , just like TaAnn :P
USD - RM 31 Dec 2015 = 4.29 31 Mar 2016 = 3.89 22 May 2016 = 4.077 Will have forex gain if on 30 june 2016 the exchange rate is higher than 3.89 To assess better is to look into the revenue growth and gross profit and free cash flow. The forex loss is due to trade receivables and cash held in foreign currency. FLB has no debt at all esp in foreign currency
Strong FCF. Net cash increased from 75m to 88m or 85c per share. If continue to generate strong FCF the net cash can touch 100m or 1.00 per share. My 2c opinion. Plz dont scold.
After carefully analysing flb results, I find the performance reasonable, if not for the forex loss of more than Rm 3 million, the company would have reported more than 40% earnings growth mah...!!
Please refer to page 6 of quarter report as at 31 March 2016, B2, you can see that on last sentences. "This was because the double tax deduction benefit granted on freight charges had been revoked effectively from 1 January 2016"
It mean the company profit margin will not ever go back as high as last year as the double tax deduction had gone.
It is the main reason why the profit drop. If you ignore the forex effect, flbhd only earning 6sen for this quarter.
Yes it might be good in next quarter due to forex gain. But the main point is profit margin go down so much due to the remove of double tax deduction. Hence in my opinion it is not a good investment anymore.
Using simple PE10 test, 6sen x 4quarter x PE10 = RM2.40. Currently RM2.34. Good? Nope. Fully valued already.
chl1989: i not sure but seem like quite alot. I not familiar with this company. I only roughly scan through the report. Maybe some1 else have a better picture?
Integrity problem...that old man really bad intregrity...u can con ppl one time, u can continue con ppl 2nd time but when 3rd time, no one will trust you...i only can say: 一失足成千古恨。。。老Koon, 放下锄刀,立地成佛 吧!! Amitofo
Don,t forget the EPS has not big drop compare with 1Q2015 even the profit margin has dissapointed public,but their PE still stay low at 7.61. Don,t forget the foreign exchange loss is unrealised yet. Don,t forget the board want to proceed the share buy back. Don,t forget even the quarter result unsatisfactory but FLBHD still is a net cash company and great fundamental. The share price may fall further by public panic sell,but also is a great for ppl who are interested with FLBHD and confident with their future earning
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....
chl1989
2,552 posts
Posted by chl1989 > 2016-05-22 02:43 | Report Abuse
what cock u talking? i talking about fcf. u still want to talk about forex. you trading forex or buying stock? exclude 2015 results, analyze 2010-2014 fcf, still average @ bloody 13mil. @9% discount rate & 3% growth rate, it is still worth rm3. A good company with growing business with good upside margin. This is value. Forex gain or forex loss, price up or down, u go ask jesus or buddha. Ohhh. No need. u are one yourself. U have been warning us here since Jan. you have proven yourself right! Big hands for you :)