Wah....good good, marketing is VERY IMPORTANT!!

time to eat .... price drop due to failure of unsuccessful merger

Which one?

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Added on November 26, 2010, 1:24 pmMulti Sports Holdings Bhd
(Nov 24, 51 sen)
Maintain buy at 49.5 sen with lower target price of 87 sen (from 93 sen): While Multi Sports reported strong 9MFY10 revenue and core net profit — revenue increased by 40.7% year-on-year (y-o-y) to RM203.4 million and 30% y-o-y to RM49.2 million — its annualised full-year earnings of RM65.6 million, came in below our full-year estimate of RM75.7 million as we overestimated the production volume from new capacity on an annualised basis.

Compared with the strong sales growth of 57.5% (net profit +49.5%) y-o-y in 2QFY10, the group recorded a slower 17% top line y-o-y growth (net profit +3.2% y-o-y) in 3QFY10 as the group has added in extra capacity in 3QFY09, hence the 17% y-o-y growth in the current quarter is a normalised growth.

Multi Sports added five production lines for EVA MD in 3QFY09. Production volume continued to increase by 34% to 23.4 million in 9MFY10 (3QFY10: +14%) while the average selling price improved by 4.4% to RM18.9 (3QFY10: +2.2% y-o-y), mainly driven by the higher demand for EVA MD products.

9MFY10 earnings before interest and tax (Ebit) margin was lower at 28.3% against 33.7% in the previous year due to higher labour costs as the group revised wages upwards, administrative expenses and foreign exchange loss on fundraising from rights share issue which are recognised in the current quarter. The slower core earnings growth compared with top line growth was further explained by the higher interest expense incurred during this quarter on additional short-term loan drawdown.

We trim our FY10 and FY11 earnings forecast by 6.8% to 15% to factor in the lower production volume from new capacity on an annualised basis. We forecast the group will register flat profit in the next quarter due to capacity constraints. We are also expecting Multi Sports to register flat net profit in FY11 given the higher depreciation expense incurred for the new plant and higher effective tax rate of 25% against 12.5% currently. Our target price is reduced to 87 sen, based on 5.5 times FY11 EPS instead of FY10. The construction of its new plant on Xibin Land was completed in November and the group is targeting to move in completely by next month. — OSK Investment Research, Nov 24



This post has been edited by yok70: Nov 26 2010, 01:24 PM

fuiyo, everyone seems like talking Pet Chem..... no others stock to discuss? boring day...

how about axiata and CI holding?

omg CIholding got no transaction wohh....

yea...yesterday oso very low,these days oso low.. but see the chart, previous record, low volume oso can raise at the nex day..

Jala: PM to announce new projects next week

will be great if it can boost the o&g sectors......

so today sapu some o&g shares 1st ?
sell on news later

pet chem, ok?

Most of the O&G oledi move liao.

See Kencana & Dialog...Both super hard rock also move oledi..

Miss Dielog completely

OSK Research maintains Neutral on Genting Malaysia, higher TP RM3.24
Written by The Edge Financial Daily
Friday, 26 November 2010 08:33

KUALA LUMPUR: OSK Research said Genting Malaysia Bhd reported 9MFY10 earnings that were largely in line with its full-year estimates.

“We are maintaining our NEUTRAL recommendation but confer a higher TP of RM3.24 as we roll forward our valuations to FY11, although pegging the same 8x EV/EBITDA to its domestic casino business,” it said on Friday, Nov 26.

OSK Research said its fair value imputed a 10% discount on RNAV. The group’s relatively attractive valuations of 6x EV/EBITDA vs the regional average of 10x will help to anchor its share price.

“Nonetheless, we continue to prefer its parent company, GENTING BHD [], as a proxy to Genting Singapore’s more compelling growth story,” it said.

Today got some counters that start with P quite tasty

(Not Pchem)

RHB increased the FA to 1.9. Maybe there is still room for growth.

Both good good.
No transaction also good good, more chance to accumulate.
Christmas coming, holidays coming, later CNY coming, CI Holding fat fat later. Now it's super laggard since properties/construction and O&G attracts all attentions.

mayb soon they are going to move.. not enuf bullet to buy CI holding, ytd just bought axiata, thinking wan to sell public bank and buy CI holding anot

PChem euphoria over ? sell fest begins ? got bullets ?
aiyah~~~ Kimchi make noise again!!!! artillery fire heard wth....

This post has been edited by mopster: Nov 26 2010, 02:43 PM

I have a question here, the take over price for Suncity is 5.10, in this case, the price should increase close to this value, but why the price decreases today?

Maybe IB are recommending to reject the offer?