Scientex / Lim Teck Meng

Scientex / Lim Teck Meng

Postby winston » Tue Sep 30, 2014 3:52 am

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Sep 25, 2014

Scientex group’s full year net profit surged 35% on-year thanks to higher revenue from its industrial stretch films and property division.

It is also partnering Japan’s Futamura Chemical Co Ltd to grow its consumer packaging business in Japan and in Asean.

Source: The Star
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Re: Scientex

Postby winston » Tue Sep 30, 2014 3:56 am

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September 25, 2014

RHB Research maintains Buy on Scientex

KUALA LUMPUR: RHB Research has maitained its Buy on Scientex with a fair value of RM8.64 from RM7.19 as it pegged a revised CY15 P/E of 15x (from 12x) to its packaging division, which better reflects its earnings growth prospects at a CAGR of 20% over the next three years.

In a note on Thursday, the research house said it was positive on Scientex's medium-term earnings prospects, leveraging on its expansion strategy to quadruple its consumer packaging capacity by 2017.

"We also see positives in its partnership with Japan’s Futamura Chemical to help expand its biaxially oriented polypropylene (BOPP) film presence," it said.

It added that taking into account the group’s proposed expansion plans for its consumer packaging arm, it upgraded Scientex's FY15F-16F EPS estimates by 2-6%.

"Key risks include a potential slowdown in property sales amidst rising costs of living and potential fluctuations in prices of resin, which is its core production input," it said.

Source: The Star
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Re: Scientex

Postby winston » Tue Sep 30, 2014 3:57 am

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September 25, 2014

Scientex business set to quadruple to RM1bil with partnership with Japanese firm

http://www.thestar.com.my/Business/Busi ... rtnership/
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Re: Scientex

Postby winston » Tue Sep 30, 2014 3:58 am

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September 24, 2014

Scientex expects revenue from consumer packaging to hit RM1b

http://www.thestar.com.my/Business/Busi ... -hit-RM1b/
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Re: Scientex

Postby winston » Tue Sep 30, 2014 4:00 am

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September 24, 2014

Scientex Q4 earnings jump 61% to RM48.8mil

KUALA LUMPUR: Packaging manufacturer and property developer, Scientex Bhd, saw its earnings in the fourth quarter ended Jul 31, 2014, jump 61.4% to RM48.8mil from RM30.3mil compared to the same period a year earlier.

Revenue in the quarter rose 11.9% to RM415.4mil from RM371.2mil previously.

Earnings per share improved to 22.09 sen from 13.83 in the corresponding quarter the year before. The board of directors is recommending a single-tier, final dividend of 26% or 13 sen per ordinary share (versus 19 sen the year before).

The dividend is payable on Feb 6, 2015.

Scientex’s full-year earnings improved 34.6% year-on-year to RM148.5mil from RM110.3mil, with revenue rising 29.4% to RM1.59bil from RM1.229bil.

Commenting on its final quarter results, Scientex said manufacturing revenue was RM297.3mil, an increase of 7.2% compared to RM277.4 million previously. The increase was attributed to the higher contribution from its consumer packaging products in both the local and export markets, from increased capacity due to the commissioning of its blown film lines.

Meanwhile property revenue recorded was RM118.1mil compared to RM93.8mil in the preceding year, an increase of 25.8% mainly due to progress billings from on-going projects, as well as the contribution from Taman Scientex Senai project.

"Profit from operations (in the property segment) increased from RM31.4mil to RM36.9mil, an increase of 17.4%,” the company said.

For the full financial year, manufacturing revenue was RM1.192bil – up 29.8%, while profit from operations increased to RM68.8mil from RM47.4mil. The property segment recorded revenue of RM398.3mil, an increase of 28.4% compared to RM310.2mil previously, with profit increasing to RM120.9mil from RM98.7mil.

Source: The Star
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Re: Scientex

Postby winston » Tue Sep 30, 2014 4:04 am

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September 22, 2014

Scientex jumps ahead of earnings, corporate exercise

KUALA LUKPUR: Shares of Scientex Bhd rose to a high of RM6.83 on Monday ahead of the release of its earnings and the announcement of a corporate exercise on Wednesday.

At 3.37pm, it was up 16 sen to RM6.83. Turnover was 293,900 shares done at prices ranging from RM6.65 to RM6.83.

Scientex is the largest stretch film producer in Asia and among the top three globally. To date, it has manufacturing plants in Malaysia and Vietnam; as well as sales and marketing arms in Japan and Indonesia.

Approximately 75% of its manufacturing products are exported to over 60 countries worldwide.

The company is expected to announce a corporate exercise on Wednesday and also announce its results for the full year ended July 31, 2014.

Source: The Star
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Re: Scientex

Postby winston » Tue Sep 30, 2014 4:10 am

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March 12, 2014

RHB Research: Buy Scientex

KUALA LUMPUR: RHB Research initiates coverage of Scientex with a Buy call and fair value of RM6.36.

It said on Wednesday it expects the plastic film manufacturer to register FY14F-16F earnings of RM143mil to RM192mil, implying a 10.2% 3-year CAGR.

“We like Scientex for its fast-expanding plastic film manufacturing segment, reputable brand name in southern Malaysia’s property market, and committed management team under the founding Lim family, which now holds a 60% stake,” it said.


Source: The Star
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Re: Scientex

Postby winston » Tue Sep 30, 2014 4:13 am

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December 18, 2013

Scientex sees busy 2014 with plans for 14 property projects

PETALING JAYA: Scientex Bhd has allocated about RM120mil as capital expenditure to expand its operations and has 14 property projects planned for 2014, said managing director Lim Peng Jin.

He said the company was also hoping to finalise its Seacera deal soon. In November, Scientex proposed to buy biaxially oriented polypropylene (BOPP) films maker Seacera Polyfilms Sdn Bhd for RM40mil.

It also wanted to focus on capacity expansion of the business units it recently bought from GW Plastics Holdings Bhd for RM283.2mil.

The company has allocated RM50mil to increase and expand the GW Plastics units that were using inefficient machines.

“We expect the Seacera deal to be completed in two to three months, and this would complete our range of consumer packaging that we currently offer to customers,” he said after Scientex AGM and EGM.

With the expansion, he said the company would have 16 manufacturing lines capable of producing 194,000 tonnes of stretch films per annum from 154,000 tonnes currently.

This would make Scientex the third-largest stretch film producer globally, added Lim.

Scientex has also allocated RM30mil for two parcels of freehold land in Kulai, Johor, that it planned to buy from Pine Plantation Sdn Bhd for its property development division.

The expansion plans have brought the company’s gearing ratio up to 0.38 times, which, according to Lim, is still comfortable.

“We are quite careful with our balance sheet management; 0.2 to 0.5 times is still a reasonable level. We don’t want to have a high gearing situation unless we have a very attractive opportunity to expand,” he said.

He said the company wanted to improve its liquidity, which on average saw a daily trading volume of just 263,000 shares year-to-date. It closed flat at RM5.61 with 95,200 shares traded yesterday.

“We don’t have any proposal at the moment but yes, we want to improve the liquidity of our stock.

“I’m not sure if a share split would improve the liquidity but we are improving our investor relations. We also have a dividend policy of distributing at least 30% of our net profit,” he said.

On its property development business, Lim said Scientex had projects worth about RM7bil in gross development value (GDV) which would last for about 10 years.

He said the company had launched seven projects for this financial year and still had another seven projects in the pipeline that would be launched anytime, depending on market sentiments.

“We have realised about RM2bil (in sales) and still have another RM5bil. With the recent cooling measures, the company is focusing on affordable housing projects with prices ranging from RM200,000 to RM500,000,” he said.

He said Scientex still had 400ha landbank to be developed.

Source: The Star
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Re: Scientex

Postby winston » Tue Sep 30, 2014 4:15 am

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December 17, 2013

Scientex to double its operations in 5 years

BY CHOONG EN HAN

KUALA LUMPUR: Scientex Bhd aims to double the scale of its operations in five years.

Managing director Lim Peng Jin said the company with its manufacturing operations and property development intends to double up its scale of operations at its AGM and EGM today.

Shareholders had also approved a Share Grant Plan which Lim said would motivate employees to contribute further to the company.

The company also announced its first quarter results which saw net profit rising by 18% to RM29.3mil on a 51% revenue jump to RM364.8mil.

Source: The Star
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Re: Scientex

Postby winston » Tue Sep 30, 2014 4:18 am

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October 22, 2013

Kenanga initiates Scientex coverage with Outperform

KUALA LUMPUR: Kenanga Research is initiating coverage on Scientex Bhd with an Outperform call, saying the packaging-cum-property play has further upside potential despite its share price almost doubling in the past year.

It is setting the target price at RM6.28 for the stock, which closed trading yesterday at RM5.50.

According to the research house, Scientex’s acquisition of GW Plastic’s manufacturing segment, as well as the on-going expansion at its plants, will turn it into the world’s Top 3 largest stretch film manufacturer and South-East Asia’s largest blown film manufacturer.

As stretch film is still in it infancy in emerging markets, the company has potential for greater growth.

“Manufacturing margins are expected to expand via greater economies of scale, merger-related efficiency and a more diversified earnings profile,” Kenanga says.

As for its property segment, Kenanga points out Scientex’s pipeline gross development value (GDV) of RM4.8bil, which provides up to 10 years’ visibility. It says Scientex stands to benefit from the Iskandar Malaysia story, given that 90% of the group's remaining landbanks are concentrated within prime locations in Pasir Gudang, Kulai, Skudai and Senai.

It adds that most of it is geared towards the affordable housing market, which has thus far enjoyed strong take-up rates of 80-90%.

“We are estimating FY14-15E net profits of RM155mil (+40.5%) and RM182.8m (+17.9%), and dividend yields of 4.3% and 5.1%,” the research house says.

Meanwhile Kenanga is suggesting that Scientex may spin off its property segment. It says while the manufacturing segment contributed 75% of revenue, it only accounted for 44.2% to EBITDA (earnings before interest, tax depreciation and amortisation).

“We reckon that this disparity had been a dampener on the stock’s valuation, and foresee that a potential spin-off of the property segment could be a re-rating catalyst for the Scientex. In fact, our recent discussions with management have revealed that they are open to this possibility, although the timeline is uncertain,” the research house reveals.

It says this would unlock value for shareholders and they could can raise up to RM349mil-RM488mil in cash.

“This is bearing in mind that the property division by itself is in a strong financial standing, with promising projects in the Iskandar region,” it adds.

Source: The Star
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