7148 Dpharma RM 3.73 投资。

 

趁回调買入，后疫情时段，買入疫苗藥品股，目标价6元。

💪💪股市赚钱不易，安穩的获取净利，疫苗藥品股刚上升中期，仍处于上升中，像当初的手套股一样，后疫情形势，顺势而为，買入待大丰收，dpharma 有政联大戶坐陣，主力己完全控盘，趁低进入，前景一片光明，6元不是夢。

--放眼5年内迈10亿大关‧联合药业跨向区域

https://klse.i3investor.com/m/blog/sinchew_company_story/2020-09-01-story-h1512633115.jsp

个人观点，買卖自负。

更多详细介绍：

转贴，谢谢分享人。

http://www.sharetisfy.com/2019/07/dpharma-7148-ep11.html?m=1

Tekseng 7200 德成控股85仙投资。

Tek Seng Holdings Bhd是一家投资控股公司。它分为四个板块：PVC板块板块，从事聚氯乙烯（PVC）板块，工业和消费类零件的制造和贸易。 PP无纺布分部，生产和贸易与PP无纺布相关的产品；从事与PVC皮革相关产品贸易的PVC皮革分部和赚取主要收入。它从事与PVC相关和无纺布相关产品的制造和贸易,

无织布生产，口罩，防护衣的材料，疫情况态下，业绩增长持续。最高1.44回调至0.85，进入机会。

于30/6/2020公司库存价值3556万。

2020年估计EPs=6至7仙

Pe =20倍

股价=Rm1.20至1.40

个人观点，買卖自负。

转贴] 浅谈Tek Seng的无纺布业务

Author: Tan KW  Publish date:  Sat, 15 Aug 2020, 2:49 PM

Close

Saturday, August 15, 2020

 

大马政府宣布从8月15日起，3层医用口罩的零售顶价从之前的每片1.50令吉调低至1令吉，以后可能会进一步下降至80仙或更低。随着大马政府强制民众必须在公共场合戴口罩，因此口罩需求依旧强劲，而且随着口罩价格下调，相信更多人能负担得起，因此商家也有责任确保市场供应充足。在此情况之下，除了越来越多企业转型制造口罩，也有企业开始进军生产口罩原料 - 无纺布业务。
 

上个星期就看到了一则新闻：UPA正式向大马交易所报备，旗下公司获大马投资发展局 (MIDA) 批准，正式进军熔喷无纺织布市场以开发口罩、面罩及相关原料制造业务。根据文告，相关生产线将耗资1000万令吉，每年最多可生产60万公斤的熔喷布或相等于1800万令吉的年营收，足以制作8600万片3层口罩或医用口罩，预计可在今年11月秒开始投产。按此估计，无纺布的平均价格是每片21仙。

这不禁让我想起，早前Tek Seng透露第三季会拨出2000万令吉购买新机械以扩增产能，从目前的300公吨月产量翻倍至600公吨。若以UPA提供的数字来做推算的话，那么Tek Seng的新机械每年可生产360万公斤无纺布或相等于1亿800万令吉的年营收，足以供给5亿1600万片3层医用口罩了。管理层最近在接受媒体访问时表示，由于口罩持续供不应求，业务赚幅已经从全球大流行前的6%到8%暴涨至15%，此外企业也准备扩展至欧美市场。趁着目前口罩需求大涨之时再出发，不难理解管理层也希望借此摆脱之前太阳能业务给集团带来的连年亏损。

其实在今年之前，Tek Seng的最主要业务是PVC帆布产品，而无纺布的营收贡献比重也只是占约25%而已，但是随着新冠疫情肆虐从而推高无纺布业务的销售表现，贡献比重在今年次季就已经上涨至70%。企业所生产的无纺布可以广泛应用在医疗物资（口罩和医护设备）和一次性卫生用品（尿片、卫生棉和湿巾）。这些来年随着消费者的卫生意识不断提升，对一次性卫生用品的需求有增无减，甚至已成为一种必需品，无论经济好坏都不会抑制这类产品的需求持续成长。而在经历这一次的疫情爆发之后，也促使消费者对医疗用品需求更加强烈，在新冠疫苗还没研制成功和正式面世之前，人们都必须长时间佩戴口罩与病毒共存，故医疗用品的长期需求备受看好，估计Tek Seng能在这场疫情下从中受惠。

虽然目前市场对医疗用品的需求结构是永久性还是暂时性暂且还不得而知，但是企业的产品质量和技术将决定企业竞争力如何可持续保持领先优势，从而巩固市场份额及获得更多订单。此外，随着Tek Seng从之前的工业供给转为目前更面向终端消费者的市场需求，管理层更是必须提高对价格的敏感度（口罩价格下调、原料价格上涨）以及保持灵活性的议价能力才能应对市场的变化走向。

 

--

生产医护用品转运
德成控股第二季净利飊264%

30/07/2020

转向生产医疗配备包括面罩和防护衣生意後，德成控股（TEKSENG 7200）第二季传捷报，净利按年大增264%!

截至今年六月卅日第二季，德成控股录得净利653万令吉，去年同季净亏398万令吉，成功转亏为盈。

不过第二季营业额按年滑跌10.5%，由4611万令吉减至4128万令吉。

每股盈利1.82仙，比较去年每股净亏1.14仙。

2020财政年首六个月德成净利为1114万令吉，比去年增长417%，去年同期净亏305万令吉。

德成控股股价今午跌5.5仙至88.5仙。

让德成大赚的业务是防护用品（PPE）。

根据执行董事罗永俊透露，截至今年三月第一季，PPE业务为集团贡献25%营业额。

他预测，四月至六月第二季，PPE业务贡献会提高至30%；七月至九月可以提高至70%。

德成和其它宣布要进军PPE业务的上市公司不同，它已经是这个行业的＂老手＂，生产线已非常熟练，提高产量就能提高生意额。

--🙏网友评论

ForceBWithU There's an interesting article in The Edge Weekly on Capital Markets section Pg 31 to 35. It list the Winners and Wannabes from the Covid-19 play. TS is mentioned there. You can assess that TS is a good example of a PPE play stock but a REAL laggard among the overpriced PPE counters.

My sincere views on TS and why it should be priced above RM2.00 is as follows:-

1. Improving QRs for 2 quarters and should see further improvements in QR3 and QR4

2. QR2 EPS 1.82. Annualised EPS 7.2. PE 20X 1.44

3. Forecast QR3 EPS 3.00 Annualised EPS 12.00 PE 20X 2.40

4. Forecast F/Y 2020 EPS (3.2+3.0+4.0) 10.2 . Dividend payout 30% ; 3.00 sen. If 40% . Payout 4.00 sen

5. Nett cash position @ 30/6/2020; RM37 million

6. Retained profit sufficient for capitalization by way of bonus issue of 2 for 3 .

7. Export market is still a big possibility

ForceBWithU在《资本市场边缘周刊》第31至35页上有一篇有趣的文章。其中列出了Covid-19比赛的获胜者和想要的人。 在那里提到了TS。 您可以评估TS是PPE股的一个很好的例子，但在价格过高的PPE柜台中却是落后的。

我对TS的真诚看法以及为何价格定在RM2.00以上的理由如下：

1.将QR改善2个季度，并应看到QR3和QR4的进一步改善

2. QR2 EPS 1.82。 年化每股收益7.2。 PE 20X 1.44

3.预测QR3 EPS 3.00年化EPS 12.00 PE 20X 2.40

4.预测2020财年EPS（3.2 + 3.0 + 4.0）10.2。 股息派发30％; 3.00仙 如果40％。 赔付4.00 sen

5.净现金状况@ 2020年6月30日； 3千700万令吉

6.通过2派发3的红利留有足够的资本化利润。

7.出口市场仍有很大可能性。

🙏网友评论

tonypang01 TS oso make this new products now for plastic ccp can view thru their website

Good ! meaning they oso do plastic packaging products

http://demo.broncos.com.my/our-business/

CPP

Our Cast Polypropylene sheets, commonly known as CPP are our new range of product offerings. CPPs are characterized and portrayed as cleaner and environmental friendlier products. They are widely used in stationery, food packaging and other industrial use.

20M investment I believe not just limit to PP Non Woven because the machine fit to all their PVS segment where this is the grow area for next few years

tonypang01 TS oso现在使这种新产品用于塑料ccp可以通过其网站查看

好！ 这意味着他们也做塑料包装产品

http://demo.broncos.com.my/our-business/

CPP

我们的铸造聚丙烯板材（俗称CPP）是我们提供的新产品系列。 CPP的特征和描绘为更清洁，更环保的产品。 它们被广泛用于文具，食品包装和其他工业用途。

我相信2000万美元的投资不仅限于PP无纺布，因为该设备适合其所有PVS领域，这是未来几年的增长领域。

💪👍👏🙏谢谢他们的功课。

5192 Kssc 誠成集团58仙投资。

💪💪kssc 5192 buy in

58sen,

--部分业务与Hlt 0188 相似。

转贴：KSSC HIDDEN GEM IN GLOVE DIPPING LINE. CUSTOMER IS TOPGLOVE KOSSAN AND OTHERS. WAIT TO LIMIT UP VERY SOON - Target Invest - We Target, We Invest | I3investor

https://klse.i3investor.com/blogs/targetinvest/2020-08-07-story-h1511583647-KSSC_HIDDEN_GEM_IN_GLOVE_DIPPING_LINE_CUSTOMER_IS_TOPGLOVE_KOSSAN_AND_O.jsp

--Glove Dipping Machine Manufacturer Malaysia, Medical Glove Supplier Selangor, Dipped Latex Product Supply Kuala Lumpur (KL) ~ KSG Engineering Sdn Bhd

https://m.ksgengineering.com/index.php?ws=pages&pages_id=14026

KSG Engineering Sdn Bhd成立于2010年，是手套浸胶行业的备件贸易商。在短短的几年内，KSG已转变为为手套制造行业的客户提供解决方案的提供商。我们可以设计，安装和调试大容量的浸渍线，并通过在尽可能短的时间范围内提供优质的零件和服务来持续支持您的运营。

我们以质量，可靠性和效率的价值为基础，我们将客户视为长期合作伙伴，共同成长。

我们拥有控股公司K. Seng Seng Corporation Berhad的资源作为后盾，K。Seng Seng Corporation Berhad是在大马交易所上市的知名公司，市值超过20亿令吉。

KSG在雪兰莪州Balakong占地5英亩的现代化工厂中运营，自2011年以来我们一直在使用该设施。雪兰莪州是马来西亚最繁荣和工业化的州，拥有一批熟练的工人和基础设施网络，可实现高效贸易，制造和技术支持。

除了专注于马来西亚客户外，我们的地域覆盖范围还扩展到了亚太地区，涵盖了中国，印度尼西亚，泰国和越南的关键且快速增长的市场。

--😂公司股数为96m

市值20亿的話

每股价值：Rm20

--💪💪kssc：

0.525 是隆股中与手套相关业务里，股价未大副度上升的漏网之鱼，假以时日，公司业绩在转亏为盈的路上，Nta达80仙，负债不多，只是16m，一支被低估的价值股，買入。

截至31/12/2019止公司库存价值为5813万。

截于15/6/2020止 公司大股东持有55.69%股份，而30大股东共持75.01%股份。

上升只是时间，全球最大的四家是它的客户。

目标价：RM 2

公司客户：

Kssc与Hlt的股价比较：

个人分享，買卖自负。

0083 notion rm1.15投资。

 https://m.facebook.com/story.php?story_fbid=2630288223886773&id=1520891084826498

--公司在口罩相关的业务预计每个月会增加 RM 17.5 Million 的营业额 或者每个季度增加 RM 52.5 Million（需要在 8 月后才正式看到全部的效果）！

至于口罩来说，管理层预计是 30% Gross Profit Margin，至于 PPMB 的话暂时由于价格上下不稳定，因此比较难以估计 

 资料来源：http://www.notionvtec.com/investor_relations/ir_library

取自网络以上讯息

--个人简单计算：口罩业务，

每季EPs:3sen, rolling 4Q:12sen

Pe:15, stock price:RM 1.80

以上未包括现有业务。

https://www.novid.my/

--以下取自网络：

 我仍然相信，从中长期来看，公司将会变好。 在最近经历了一次异常但良好的增长之后，刚好出去保护我的利润。将会回来。

 我们已经订购了现成的机械： 

1）熔喷聚丙烯使产能从目前的50吨增加到每月200吨。平均售价为每吨RM100,000。 

2）安装的20线三层面罩容量（包括电流）为每月5000万个。 ASP表示每台50仙 

3）42条线的N95，容量为每月6000万个。 N95的平均售价为0.5美元至0.8美元。

 4）生产2单位的PP树脂母料，用于我们的PP熔喷生产。 

5）斥资2000万令吉，在巴生市购置新的3英亩工厂，安置医疗保健设施。

 6）在Gelang Patah建3英亩的土地，以支持我们的EMS客户，因为他们的家电在线销售再增长了1000万令吉。 我们应该能够资助这些。 成为专利la，就销售额和希望的上限而言，我们正在将该集团打造成数十亿公司。仅六个月。 谢谢。

5199 Hibiscs 大红花石油Rm 0.645投资。

 https://m.facebook.com/story.php?story_fbid=2628501844065411&id=1520891084826498

个人观点，買卖自负。

0083 notion RM 1.87还可投资吗？

NOTION – A 2020 Gem Stock that fulfils Mr. Fong’s RUG Criteria
Hi, i3 members. I am Another Perspective.
Here, I humbly share my first i3 article with you.
This article is strictly for sharing purpose only.
There is no buy or sell recommendation.
Any constructive feedback is welcomed.

Let’s dive in.

1)  What are Mr. Fong’s stock selection criteria?

According to one of the Malaysia’s top investor, Mr. Fong Siling, investors can look for great investment opportunities in RUG stocks:

1. R (Recovery Stock) – Companies that have good fundamentals but suffer from temporary setbacks may have extremely depressed stock prices. As long as the company can recover, we can buy the stock at depressed prices and keep them for 1-3 years. The investment returns should be good.

2. U (Undervalued Stock) – Companies that are undervalued.

3. G (Growth Stocks) – As long a company is growing, we should hold its stock.

2)  How does Notion fits Mr. Fong’s RUG stock selection criteria?

1. R (Recovery Stock) - Notion’s stock price has been severely impacted due to a series of incidents, including a fire at its main manufacturing facility in Klang in October 2017. After nearly two years, Notion has fully restored its operations in September 2019.

2. U (Undervalued Stock) – Notion has an NTA of RM1.24. As a precision part manufacturer, its manufacturing equipment and facilities should fetch a value similar to, if not higher than the NTA. If even a non-operational Notion is worth RM1.24, how could Notion be worth at RM1.05 when there are management team and employees generating earnings in a business with high barrier of entry? If you check Notion’s peers, namely ATAIMS, VS and SKPRES, you will notice they are trading at stock prices much higher than NTAs.

3. G (Growth Stock) – Notion’s three business segments, namely HDD, EBS and EMS, are all growing. Notion targets to reach a market capitalisation of RM1 billion by 2024 – a 3x increase in market capitalisation within five years. With a healthy Current Ratio of 4.41, Debt-to-Equity ratio of 0.16 and expected insurance claims, Notion should able to expand rapidly, without overstretching itself financially.

(Source: https://www.theedgemarkets.com/article/notion-vtec-ventures-ems-space)

• HDD (Hard Disk Drive) – Their HDD parts precision manufacturing business is growing, due to the extensive application of Shingled Recording (SMR) and helium drives.
   
• EBS (Electronic Braking System) - Many people are not aware that Notion is one of the largest auto braking plunger suppliers in the world. Notion produces 30 million pieces of plungers annually for 15 million cars, as each braking system would need two plungers. Given that the global production of cars is about 90 million annually, it essentially means that one in every six cars in the world has plungers is made by Notion. Their clients include world-class automotive brands, including Mercedes-Benz, BMW, Audi, Volkswagen, Mitsubishi. Notion’s parts are being supplied to everywhere in the world. Recently, Notion had secured three new automotive customers, namely Delphi Technologies, Hilite International and BorgWarner, with orders expected to start coming in 1H2020.
   
• EMS (Electronic Manufacturing Service) – This is Notion’s main growth driver. Notion is the specialist in metal parts, especially the aluminium parts. In 2H2019, it has secured a European EMS client to which it will supply the metal parts — both machine and fabricated parts — for its products. The client stated they are impressed by Notion’s capability and quick response. It is highly likely that the European EMS client is Dyson. Why? VS, SKPRES AND ATAIMS, which serve Dyson, are based in Johor. Their stock prices have soared ever since they started serving Dyson. If you notice, Notion’s EMS plant is based in Johor too. Secondly, they have comprehensive engineering capabilities. Refer table below, sourced from Notion’s Investor Relation slides (You may view them at Notion’s website).

 

3)  How much is Notion’s stock worth?

1. Let’s focus on Notion’s big picture. Underpinned by encouraging R, U, G factors, Notion targets to reach a market capitalisation of RM1 billion by 2024 – a 3x increase in market capitalisation within five years. It would be helpful to derive a stock price based on this input.
    
2. With a market capitalisation of RM1 billion by 2024 and a total outstanding 335,821,905 stock units, each stock would be worth RM2.98 by 2024. Applying a sufficiently huge margin of safety of 50%, the stock would still be worth RM1.49 by 2024.
    
3. EMS players, namely ATAIMS, SKPRES and VS have PERs of 16-20x. Assuming Notion is valued at just a PER of 15x, a stock price of RM2.98 is equivalent to an EPS of RM0.20 and annual earnings of RM66.7 million.
    
4. Is this Notion able to achieve this target? No one can give an exact answer - We have no crystal balls. We shall monitor their performance from time to time, to see whether they underdeliver, deliver or overdeliver.

4)  Is there any prominent investor believing in Notion?

Here’s the interesting part – Yes. The most practical way to exhibit belief in a company is by buying its stocks. Based on Notion’s latest 2018 annual report, Mr. Fong Siling holds 2.03 million units of Notion stocks. Yes, Mr. Fong himself. Notion seems to fulfil his own RUG stock selection criteria. Not sure whether he is still holding now, but that is not a major concern. At a price below NTA, Notion is clearly undervalued.

5)  What does Notion’s chart suggest?

1. At RM1.05, Notion is standing as its 1-year high. However, it is still 16% lower than its NTA of RM1.24. Notion’s peers, namely ATAIMS, VS and SKPRES, you will notice they are trading at stock prices much higher than NTAs.
    
2. Notion has been uptrend stock since the October 2019, right after it has fully recovered from the fire incident in 2017- Positive signs for value + trend investors.

6)  Are there risks buying Notion?
Yes. No matter how good a company is, it is not risk-proof.

1. Business Risk - Notion may not hit its target - a 3x increase in market capitalisation within five years due to different reasons, such as termination of client projects, or incidents like floods and fire.

2. Market Risk – In the short term, anything can happen to the stock market. Notion’s stock price could fluctuate with respect to changing market sentiments.

7)  Conclusion?
       a. Notion fulfils the RUG stock selection criteria.

• R (Recovery) – Notion has fully recovered its operation in September 2019.
   
• U (Undervalued) – Notion’s current stock price is 14% below NTA, while its peers are traded at prices much higher than their NTAs.
   
• G (Growth) – All growth drivers combined (HDD, EBS, EMS); Notion targets a 3x increase in market capitalisation by 2024. If achieved, with a total outstanding 335,821,905 stock units and a PER of 15x, each Notion stock would be worth RM2.98 by 2024. Applying a sufficiently huge margin of safety of 50%, the stock would still be worth RM1.49 by 2024.
   

      b. Notion has been an undervalued, uptrend stock - Positive signs for value + trend investors.
      c. By investing in Notion, investors should expect business and market risks.

Is Notion a worthwhile investment? You decide.
This article is strictly for sharing purpose only.
There is no buy or sell recommendation.
Any constructive feedback is welcomed.

Thanks,

Another Perspective

https://klse.i3investor.com/blogs/anotherperspective/2020-01-19-story-h1482841839-NOTION_A_2020_Gem_Stock_that_fulfils_Mr_Fong_s_RUG_Criteria.jsp

上述为转贴，谢谢分享人。

以下为个人观点：

😂大戶看到物有所值，肯定大收藏了。最少3元的价值，notion有牌照口罩可外销欧美，迟点回教国家也会批准，外加科技业的確是錦上添花。在全民拥口罩与外国疫情严重下，这支股沒有三元都不用卖。

只是分享，買卖自负。