浅谈 shh 新兴发资源 Q3业绩--

rolling 4 quarters--
stock price=rm1.78
eps=29.48 sen
nta=1.73
dps=10 sen
pe=6.04
roe=17.05
dy=5.61%
52w  ;0.99--2.48

--估计2016 年EPS=28SEN,PE=10,STOCK RICE=RM2.80
--公司于31-3-2016 累积净利达3668万,
Q1加Q2净利共821万(16.43SEN),

6个月净利己打破2013年至2015年的整年净利,
表现优势,Q3净利276万,EPS=5.53SEN ,SHH对比去年当季增加80%,
Q3是公司淡季,有如此成绩算很好了,9个月赚1097万,EPS=21.96SEN,SHH不失为成长与收息股.
--公司于31-3-2016 债务为758万，现金为3451万
  净现金达2693万。 每股 净现金达53.8sen.
---于6-10-2015的30大股己持42141,000股,市场流量只有7858,000股,总股数为50000,000
---这种公司经菅一流,好远见,創新都是立足市场的長青树,美国加息己來,美元上升,对出口股为利好,
rm1,78買入,去年股息10sen,dy=5.6%,当長期飯票,取得资本增值和等红股,乱市中不失为镇中之宝.
浅谈 shh 新兴发资源 Q3业绩-- 
rolling 4 quarters-- 
stock price=rm1.78 
eps=29.48 sen 
nta=1.73 
dps=10 sen 
pe=6.04 
roe=17.05 
dy=5.61% 
52w ;0.99--2.48 

--估计2016 年EPS=28SEN,PE=10,STOCK RICE=RM2.80 
--公司于31-3-2016 累积净利达3668万, 
Q1加Q2净利共821万(16.43SEN), 

6个月净利己打破2013年至2015年的整年净利, 
表现优势,Q3净利276万,EPS=5.53SEN ,SHH对比去年当季增加80%, 
Q3是公司淡季,有如此成绩算很好了,9个月赚1097万,EPS=21.96SEN,SHH不失为成长与收息股. 
--公司于31-3-2016 债务为758万，现金为3451万 
净现金达2693万。 每股 净现金达53.8sen. 
---于6-10-2015的30大股己持42141,000股,市场流量只有7858,000股,总股数为50000,000 
---这种公司经菅一流,好远见,創新都是立足市场的長青树,美国加息己來,美元上升,对出口股为利好, 
rm1,78買入,去年股息10sen,dy=5.6%,当長期飯票,取得资本增值和等红股,乱市中不失为镇中之宝. 
SHH 会发红股吗?-- 
2013年至2016年,4年的时间己使SHH变得更强大,美丽的资产负债表, 

公司股票数量5000万股,由每股一元面值组成,股本为5000万, 
从公司的财政看,发2送1红股是在能力内,因公司多年没增加股数了(2003年有发给红股), 
为了報答股东与加强股票流量,发红股机率大,就看大股东要不要, 
我是进来当收股息与资本升值,我想伩市场上的票不到8千張,当更多人发现 
SHH提供的投资机会时,真的是越買越高,趁现在低,早点进货,等待丰衣足食.

Shh 7412 rm1.78是趁低吸购吗?shh对比去年当季还是上升,
9个月赚1097万,eps=21.96sen 己超过去年整年净利,Q3是公司的淡季,
应还可以接受,我会等Q4和取股息！
今日加位rm1.68,暂时下刹,他日拉升.

shh位于pagoh ,muar的16.64 hectare 土地 于1994年至今未重估,

这厂房土地为leasehold,2055年到期,2016年的今天肯定己升值了.

shh 30大股东情况--

等官佬发现shh並買入,这支股有liihen 的條件.

7412 shh 新兴发资源 rm1.85 買入--

rolling 4 quarters--
stock price=rm1.88
eps=27.02 sen
nta=1.78
dps=10 sen
pe=6.96
roe=15.18
dy=5.3%
52w  ;0.99--2.48

--2016 EPS=25SEN,PE=10,STOCK RICE=RM2.50
--公司于31-12-2015 累积净利达3892万,Q1加Q2净利共821万(1643SEN),

6个月净利己打破2013年至2015年的整年净利,
表现优势,Q3想信也有好的净利,SHH不失为成长与收息股.
--公司于31-12-2015 债务为798万，现金为3618
  净现金达2820万。 每股 净现金达56.4sen.
---于6-10-2015的30大股己持42141,000股,市场流量只有7858,000股,总股数为50000,000
 ---这种公司经菅一流,好远见,創新都是立足市场的長青树,美国加息己來,美元上升,对出口股为利好,
rm1,88買入,去年股息10sen,dy=5.3%,当長期飯票,取得资本增值和等红股,乱市中不失为镇中之宝.
http://www.malaysiastock.biz/Corporate-Infomation.aspx?type=A&value=S&securityCode=7412
http://shh.com.my/
http://klse.i3investor.com/servlets/stk/7412.jsp

1)

SHH Resources - 6.81x PE ratio, 5.4% div yield, 60 cents net cash (RM30m) and 250% profit growth

Author: ValueGrowthInvestor   |   Publish date: Fri, 18 Mar 2016, 08:38 AM

---

Having attended a presentation by the company, I managed to learn more about SHH's plans in 2016. Let us have look at SHH's current valuation metrics and industry data followed by their plans and outlook for 2016:
1) Last 12 months PE ratio is only 6.81x with net cash per share of RM0.60 (33% of market cap). Forward PE ratio obtained by annualising first half results of RM8m is 5.2x. ROE and net profit margin are above 15%. During the presentation, the company's boss informed participants that growth was seen in higher demand and not purely from stronger dollar.
2) Retail data from the US where SHH derives >90% is up 3.8%yoy and 0.5%mom (February is a much shorter month and non-peak in terms of seasonality). 
3) Malaysia Timber council expects the strong growth in 2015 to continue in 2016 from higher demand from US and India.

4) SHH is spending CAPEX of RM3mil in FY16 (50% of FY15 profits and triple the amount spend in FY15) into improvements of manufacturing plant and machinery. This will reduce labour cost, increase efficiency and improve margins over the long run improving gross margins by 5% starting October 2016.
5) SHH is moving from generic furniture which makes up 70% of sales into original design furniture currently only 30% into a more even 50:50 split. SHH currently has the design team and is working closely with its clients from the US to design exclusive range of premium furniture. Expect marging to improve further with current trend showing margins doubling from 6% to 12% already.
6) The company is breaking into the hotel furnishing business where it has secured a sizeable amount of contracts from renown hotel operators and the entertainment industry from tenders called in addition to a recently concluded furniture exhibition. These carry high margins and recurring income for maintenance/replacements. SHH has very good track record and quality finishing which makes it preferred over its competitors.

7) It's largest customer in the US which is the largest furniture retailer in North America, i.e. Ashley Furniture Stores is placing higher orders for SHH products compared to last year. Ashley is ranked 105th in largest private companies in the US with revenue of US$4B. Growth is expected to be boosted by the launching of its E-Commerce business which is expected to accelerate growth.


8) To be very conservative, SHH should be valued at 8x forward PE from EPS of 36 cents giving it a target price of RM2.85 (massive55% upside). This is a 20% discount over its larger peers such as Liihen, Pohuat and Latitud. In addition, SHH has a much higher cash balance risk and steady shareholders (its largest shareholder and company founder purchased more shares in 4th quarter 2015 from MUI) reducing downside risk. No large shareholders waiting to make a quick buck such as a prominent i3 blogger.
2)

(ValueGrowthInvesting) SHH - furniture exports rose 12.2% year-on-year

Author: ValueGrowthInvestor   |   Publish date: Fri, 4 Mar 2016, 03:09 PM

---

As I said in my previous post, data do not lie. When data is pointing upward, the results will eventually show. Before SHH released their 4th quarter 2015 results, I pointed out by showing several different data which indicated that the results will be positive and true enough, SHH posted its best ever quarterly results.

Taking a look at the latest released trade numbers, headline export numbers fell. However, if we look closely, a major bright spot in exports is timber and timber-based products (wood based furniture) which rose a whopping 12.2%y-o-y. Even more surprising is that in the month of January which is considered off-peak, exports rose 2.8%m-o-m compared to December which is considered the highest month for furniture sales in the US.

There seems to be an avoidance for export driven stocks, particularly within the furniture industry. This has created discrepencies between value and price of these securities. The most glaring in my opinion is SHH Resources for reason I have stated in my previous postings. In this risk on, risk off environment, the ones who are able to look beyond the smoke, act rationally based on facts and figures will eventually come out on top. US will be releasing its retail numbers soon and be sure to look out for furniture sales. Also, have a look at Home Depot and Lowe's share price performance recently. These point to sales being brisk, and SHH is a direct beneficiary as its main market is the US. Also, the soon to be concluded MIFF 2016 will be the biggest in terms of deals secured in its history.

A little observation, it looks like the biggest winners in the current market will be the foreigners who are buying our local equities in droves (bought RM300m yesterday) backed by solid research. Next will be the local funds who have many analysts at their disposal and companies ever ready to welcome them to their factories. The biggest losers, as always will be the retail players who only come in when the party is over. Will this trend repeat itself again?