Straits Inter Logistics

Straits Inter Logistics

Postby winston » Sun Jan 21, 2018 8:00 am

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Stock Pick for 2018

We are calling licenced bunkering company Straits Inter Logistics Bhd our top pick for 2018 following five quarters of consecutive profits and potential new business expansions.

More importantly, the company is entrepreneurally driven and the company is not just depending on organic growth.

As of Thursday, its first new potential mergers and acquisition has been announced. Straits has entered into a heads of agreement with Hong Kong bunkering company Banle Energy International Ltd to explore potential business cooperations.

We are also waiting for the company’s fourth quarter results that will be announced next month.

We first initiated coverage on Straits on Oct 9, with a target price of 31 sen based on 13 times price earnings ratio financial year ended Dec 31, 2018 (FY18).

Furthermore, with Straits’ having garnered a RM45mil bunkering contract in September, this gives more earnings visibility for 2018.

In September, Straits’ 51% owned subsidiary Selatan Bunker (M) Sdn Bhd won a RM45mil contract from Tumpuan Megah Development Sdn Bhd for bunkering services.

Meanwhile, Straits registered a net profit of RM631,000 for its third quarter of the financial year ending Dec 31, 2017, up from RM10,000 in the corresponding period last year.

Its revenue stood at RM32.9mil, compared to RM20.2mil a year ago.

For the nine-month financial year ending Dec 31, 2017, the company registered a revenue of RM82.9mil, which represents a 65% increase from RM50.3mil a year ago. Its net profit stood at RM1.8mil.


Source: Vincent Lau, Rakuten Trade Research VP
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Re: Straits Inter Logistics

Postby winston » Wed May 08, 2019 9:11 am

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Another piece of the jigsaw?

Neutral for now; maintain BUY

Straits Inter Logistic’s (SIL) HOA with Elsa Energy is neutral at this stage, though in line with its growth strategies.

We make no changes to our financials forecasts for now pending further development.

We maintain our BUY call with an unchanged TP of MYR0.385, pegged to 14.4x FY20
PER (-1SD of 3-year mean).

Source: Maybank

https://factsetpdf.maybank-ke.com/PDF/1 ... 2f58c5.pdf
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Re: Straits Inter Logistics

Postby winston » Fri May 31, 2019 10:24 am

More excitement ahead
Steady on course, maintain BUY


1Q19 results were within our expectation.

We expect further improvement in 9M19 on more orders for its MGO, fuelled by rising O&G
activity in Malaysia from 2Q19.

We leave FY19E-21E earnings unchanged.

Straits is undervalued at 0.1x FY20 PEG and only 8.4x FY20 PER, which is below -1SD to the historical mean, particularly given strong earnings growth outlook.

We reiterate BUY with unchanged TP MYR0.385 based on 14.4x FY20 PER (1SD below 3-year mean).

Source: Kim Eng

https://factsetpdf.maybank-ke.com/PDF/1 ... eba2ef.pdf
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Re: Straits Inter Logistics

Postby winston » Thu Jun 27, 2019 8:24 am

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Straits Inter Logistics signs bunkering services agreement with Bintulu Port

KUALA LUMPUR: Straits Inter Logistics has entered into a provision of bunkering services agreement with Bintulu Port Sdn Bhd (BPSB) for a contract period of three years, with the option to renew for not more than two years to be mutually agreed upon.

In statement Wednesay. Straits said its subsidiary, Tumpuan Megah Development Sdn Bhd (TMD) entered into the agreement with BPSB.

BPSB is in the business to operate, maintain, manage and provide operational facilities and services of the port undertakings within the Bintulu Port area. BPSB is also a subsidiary of Bintulu Port Holdings Bhd

Straits is principally engaged in oil trading and oil bunkering services and investment holding activities. Oil bunkering services involve provision of refuelling marine gas oil and marine fuel oil through vessels to other ships and ocean faring vessels such as oil tankers, container vessels, cargo vessels and cruise ships.

With the intention to provide bunkering services within its port water limits, BPSB had agreed to appoint TMD, a company specialising in marine bunkering operations in Malaysia to operate, manage and provide bunkering services located at the general cargo anchorage within Bintulu Port water limit located in Sarawak.

“This tie-up with BPSB marks an important milestone for Straits and in bringing the two companies together for collaboration on bunkering business. The opportunity to collaborate with Bintulu Port will bring new dimensions to both parties’ infrastructures which will allow both parties to tap the vast potential in the bunkering industry,” group managing director Datuk Seri Ho Kam Choy said.

“Currently, TMD is operating its business in eight ports in Malaysia, comprising, Pasir Gudang Port, Tanjung Pelepas Port., Kuantan Port, Kuala Terengganu Port, Kemaman Port, Labuan Port, Kota Kinabalu Port, and Miri Port.

“By entering into this agreement with BPSB, Straits through its subsidiary TMD hopes to establish a base in bunkering business in Bintulu and subsequently further enlarge its bunkering business in East Malaysia,” he said.

Bintulu Port group CEO Datuk Mohammad Medan Abdullah said: “The introduction of fuel bunker services in Bintulu Port waters is part of the group’s initiatives to enhance users’ experience with the launch of its new group vision, mission and corporate values towards becoming a world class port operator and expanding its revenue streams.

The introduction of such services in Bintulu Port is befitting given the strategic location of the port to potential users spanning various industries plying through Bintulu waters.”

In its effort to expand its business footprint, Straits had completed its acquisition of 55% equity interest in TMD in September 2018 and 38% equity interest in Banle Energy International Limited in February 2019.

The acquisition of TMD has enlarged Straits’ fleet size from 2 vessels to 9 vessels with a total capacity of 12 million litres, while the Banle acquisition has opened up the gateway for Straits to tap the marine fuel oil trading market in Hong Kong, China and Taiwan.

Source: The Star

https://www.thestar.com.my/business/bus ... srAXTX8.99
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Re: Straits Inter Logistics

Postby winston » Thu Jun 27, 2019 9:47 am

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Straits Inter Logistics(STRA MK)

Share Price: MYR0.24
Target Price: MYR0.42
Recommendation: Buy

Adding a jewel

We are positive on SIL’s provision of bunkering services agreement with Bintulu Port Sdn. Bhd. (BPSB) as it will help SIL in capturing a lucrative market for its MGO.

We raise our net profit estimates by 2-7% for FY19E- 21E to incorporate this.

Our TP is raised to MYR0.42 (+1sen, +2%), pegged to an unchanged 14.4x FY20E PER (-1SD of 3-year mean).

The stock is significantly undervalued, trading at only 8.4x FY20E PER. BUY.

Source: Maybank

https://factsetpdf.maybank-ke.com/PDF/1 ... 48e51e.pdf
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Re: Straits Inter Logistics

Postby winston » Fri Sep 20, 2019 9:04 am

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Structuring bunkering biz for growth

Straits Inter Logistics (SIL)’s new venture into marine fuel oil (MFO) bunkering services is a game changer for the company.

SIL is also in an entrenched position to capture increasing marine gas oil (MGO) demand from higher OSV utilization in Malaysia from 2H19 and into 2020.

SIL’s share price has yet reflected its strong earning visibility at only 7.2x FY20 PER.

We maintain our BUY call with an unchanged TP of MYR0.42, pegged to an updated 14.4x FY20 PER (3-year mean).

Source: Maybank

https://factsetpdf.maybank-ke.com/PDF/1 ... 891206.pdf
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Re: Straits Inter Logistics

Postby winston » Fri Sep 20, 2019 9:04 am

not vested

Structuring bunkering biz for growth

Straits Inter Logistics (SIL)’s new venture into marine fuel oil (MFO) bunkering services is a game changer for the company.

SIL is also in an entrenched position to capture increasing marine gas oil (MGO) demand from higher OSV utilization in Malaysia from 2H19 and into 2020.

SIL’s share price has yet reflected its strong earning visibility at only 7.2x FY20 PER.

We maintain our BUY call with an unchanged TP of MYR0.42, pegged to an updated 14.4x FY20 PER (3-year mean).

Source: Maybank

https://factsetpdf.maybank-ke.com/PDF/1 ... 891206.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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Re: Straits Inter Logistics

Postby winston » Thu Oct 03, 2019 7:35 am

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Straits eyes RM60mil a year from deal with LMTSB

By TEE LIN SAY

LMTSB is appointing Tumpuan Megah with the exclusive right to operate, manage and provide bunkering services located within Lumut Port.

Straits is principally engaged in oil trading and fuel bunkering services and investment holding activities.

Tumpuan Megah operates in eight ports in Malaysia. It has an enlarged fleet size of 11 vessels with a total carrying capacity of 22 million litres.


Source: The Star

https://www.thestar.com.my/business/bus ... VYxXdmF.99
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Re: Straits Inter Logistics

Postby winston » Sat Mar 13, 2021 8:20 am

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Straits Inter Logistics Bhd's net profit for the fourth quarter ended Dec 31, 2020 dropped 30.99% to RM726,000, from RM1.05 million in the preceding quarter, as lower profit contributions from its associate companies, continued losses from its inland transportation and logistics segment and year-end provision offset the higher revenue.

Revenue grew 9.49% to RM176.52 million from RM161.22 million largely due to a higher revenue from its oil trading and bunkering services and vessel management segments by RM14.5 million and RM500,000 respectively amid continued economic recovery from the impact of Covid-19.

Source: The Edge
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