Ann Joo Resources

Re: Ann Joo Resources

Postby winston » Thu May 30, 2019 9:50 am

not vested

A temporary setback

Earnings to pick up in 2H19, maintain HOLD

1Q19 results fell short on lower domestic sales volume, depressed ASP and higher raw material costs.

We cut our FY19E-21E core net profit by 43-44%.

Accordingly, our TP is also reduced by 13% to MYR1.34 based on revised 8.8x FY19 PER.

While increasing raw materials cost remains a concern, we believe an improving domestic steel demand outlook, higher export tonnage and unutilised balance of investment tax allowance for
its blast furnace installed in 2011 could cushion the impact. HOLD.

Source: Kim Eng

https://factsetpdf.maybank-ke.com/PDF/1 ... d9e5f5.pdf
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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winston
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Re: Ann Joo Resources

Postby winston » Fri Jun 14, 2019 9:42 am

not vested

Ann Joo Resources (AJR MK/HOLD/Target: RM1.30).

Our target price is based on 7x 2020F EPS of 13.7 sen.

We also assume a 45% dividend payout ratio which translates into a dividend yield of 2.6% for 2019.

Entry price is RM1.00.

Source: UOBKH
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: Ann Joo Resources

Postby winston » Wed Oct 09, 2019 7:13 am

vested

Ann Joo and Southern Steel to combine and list JV firm

By GANESHWARAN KANA

An equity analyst told StarBiz that the move could boost the utilisation rates of production plants owned by Ann Joo and Southern Steel as well as reduce the manufacturing costs by achieving greater economies of scale.

Post-completion of the corporate exercise, the JV company will become a 55%-subsidiary of Ann Joo and a 45% associate of Southern Steel.

As for Ann Joo, in the second quarter ended June 30,2019, it posted net losses of RM37.75mil compared with a net profit of RM20.70mil a year ago.

In the first half, it registered net losses of RM44.35mil compared with a net profit of RM82.14mil in the previous corresponding period.


Source: The Star

https://www.thestar.com.my/business/bus ... Q806yfU.99
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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