Ewein Berhad EWEIN Code 7249

Stock Name : EWEIN
Code: 7249

Nature of Business: Property Development, Manufacturing, Investment Holding, Property Investment & Management and Ecommerce

Low PE (group revenue affected by MCO in 20Q2, recovered partly in 20Q3 due to completion of development project City of Dreams, however lower net revenue in 20Q4 due to development cost incurred)

Dividend - FY2020 1 time 10% dividend + share dividend 1:16 (6.25%)

Net asset: Price below Net Asset
Debt to Equity: 0.40
Current Ratio: OK

Pseudo-DCF (10%, 10 years period): 0.07-0.58
Technical: 0.32-0.34  
Overall: Amber 

Orna Paper Berhad ORNA Code 5065

Stock Name : ORNA
Code: 5065

Nature of Business: Manufacturing of corrugated boards and cartons boxes (paper packaging), paper based stationery products as well as provision of logistic services

Low PE (MCO affected group earning in 20Q1 and 20Q2, revenue and net profit seems recovering since 20Q3, compared pre-pandemic notice there is some net profit growth, quoted due to higher sales volume and selling prices)

Dividend - 1.8-2%

Net asset: Price below Net Asset
Debt to Equity: 0.68
Current Ratio: OK

Pseudo-DCF (10%, 10 years period): 1.92-2.63
Technical: 1.56-1.58  
Overall: Amber (due to lower dividend yield)  

Master-Pack Group Berhad MASTER Code 7029

Stock Name : MASTER
Code: 7029

Nature of Business: Manufacturing corrugated cartons, wooden packaging

Low PE (profitable for the past 11 years, revenue on increasing trend until 2020, last 2 quarters net profit gradually recovering)

Dividend - 2-3%

Net asset: Price below Net Asset
Debt to Equity: 0.35
Current Ratio: OK

Pseudo-DCF (10%, 10 years period): 1.36-2.18
Technical: 1.78-1.82  
Overall: Amber 

Jaycorp Berhad JAYCORP Code 7152

Stock Name : JAYCORP
Code: 7152

Nature of Business: Furniture, Packaging, Processing of Rubber Wood and Other Division (includes Transportation, Marketing, Trading of Construction materials and property letting)

Low PE (Net profit rebound since 20Q4, last 2 quarters increased in net profit due to increased demand in the furniture segment from North America)

Dividend - 2-5%

Net asset: Price above Net Asset
Debt to Equity: 0.42
Current Ratio: OK

Pseudo-DCF (10%, 10 years period): 1.09-2.64
Technical: 1.7-1.75
Overall: Green   

Lii Hen Industries Berhad LIIHEN Code 7089

Stock Name : LIIHEN
Code: 7089

Nature of Business: Manufacturer of furniture and Plantation

Low PE (revenue on increasing trend, minimal impact on earnings during pandemic period)

Dividend - 5-6%

Net asset: Price above Net Asset
Debt to Equity: 0.41
Current Ratio: OK

Pseudo-DCF (10%, 10 years period): 2.80-4.73
Technical: 3.3-3.4
Overall: Green 

Ibraco Berhad IBRACO Code 5084

Stock Name : IBRACO
Code: 5084

Nature of Business: Property Development, Property Management and Construction

Low PE (earnings seems stable during pandemic period, on increasing trend since 20Q1)

Dividend - 3-4%

Net asset: Price below Net Asset
Debt to Equity: 0.90
Current Ratio: OK

Pseudo-DCF (10%, 10 years period): 0.32-0.78
Technical: 0.535-0.55
Overall: Amber  

Magni-Tech Industries Berhad MAGNI Code 7087

Stock Name : MAGNI
Code: 7087

Nature of Business: Apparel and Packaging Business

Low PE (improved earning last quarter due to higher orders of flexible packaging product, low material cost)

Dividend - 3-4%

Net asset: Price above Net Asset
Debt to Equity: 0.12
Current Ratio: OK

Pseudo-DCF (10%, 10 years period): 1.41-3.33
Technical: 2.1-2.3 
Overall: Green  

Can-One Berhad CANONE Code 5105

Stock Name : CANONE
Code: 5105

Nature of Business: Tin cans, Jerry cans, Aluminums cans, Cartons, Edible oils, Beverages and Milk powder, Trading Division and Property Investment Holding.  

Low PE (there was one time 720 mil net earning in FY2019, this have caused PE to be low in stock screen, average net earning should be around 60-80 mil, revenue on increasing trend, however net profit seems lagging). The one time increase in revenue mainly due to consolidation of KJCF Group. 

Dividend - 1-2%

Net asset: Price below Net Asset
Debt to Equity: 0.96
Current Ratio: OK

Pseudo-DCF (10%, 10 years period): 4.99-13.18
Technical: 2.7-3
Overall: Amber

Yoong Onn Corporation Berhad YOCB Code 5159

Stock Name : YOCB
Code: 5159

Nature of Business:  Integrated designer, manufacturer, distributor and retailer of home linen and bedding accessories in the region. Brands include Ann Taylor, Bed talk, Cotonsoft, Diana, Genova, Jean Perry, Louis Casa, Niki Cains, Novelle, Oasis, Red Danielle and Sarah Miller.

Low PE (Profit margin on increasing trend, last quarter recorded improved profit due to write back or impairment, lower operating expenses and cost saving initiatives

Dividend - 4-5% (dividend payment 2x per year) 

Net asset: Price below Net Asset
Debt to Equity: 0.13
Current Ratio: OK

Pseudo-DCF (10%, 10 years period): 0.75-1.01
Technical: 0.83-0.92 
Overall: Green  

TRC Synergy Berhad TRC Code 5054

Stock Name : TRC
Code: 5054

Nature of Business: Construction and Property Development

Low PE (Group earning rebound since 20Q2 with higher net profit, both construction and property development recorded improvement during , partly gain attributed to unrealized gain from foreign currency movement

Dividend - 2-3%

Net asset: Price below Net Asset
Debt to Equity: 1.59
Current Ratio: OK

Pseudo-DCF (10%, 10 years period): 0.35-0.63
Technical: 0.37-0.39 
Overall: Amber 

FIAMMA Holdings Berhad FIAMMA Code 6939

Stock Name : FIAMMA
Code: 6939

Nature of Business: Trading and Services, Property Development, Investment Holding and Property Investment

Low PE (profitable for the past 15 years, recorded higher revenue and net profit since 20Q4)

The increase in revenue from Trading and Services segment (92.8% of Group revenue)

Prospects remain challenging, Group will remain focused on expanding its existing core business  

Dividend - 1-3%

Net asset: Price below Net Asset
Debt to Equity: 0.51
Current Ratio: OK

Pseudo-DCF (10%, 10 years period): 0.24-0.59 
Technical: 0.54-0.57
Overall: Amber

Public Packages Holdings Berhad PPHB Code 8273

Stock Name : PPHB
Code: 8273

Nature of Business: Carton, Offset Printing, Paper Products, Hotel Management and Property Investment

Low PE (net profit of the company on increasing trend)

Manufacturing division recorded slight increase in revenue (as well as from cost control activities)

Hotel Division suffered decline due to Conditional Movement Control Order

Prospects - outlook remain challenging due to pandemic

Dividend - 0.27% less than risk free rate/fixed deposit

Net asset: Price below Net Asset
Debt to Equity: 0.23
Current Ratio: OK

Pseudo-DCF (10%, 10 years period): 0.80-1.56
Technical: 0.87-0.88
Overall: Amber (due to dividend less than risk free rate)

OSK Holdings Berhad OSK Code 5053

Stock Name : OSK
Code: 5053

Nature of Business: Property Development, Construction, Financial Services, Industries, Hospitality

Low PE (earning remain intact, recorded over 300+ mil revenue, and 90+ mil net profit since 20Q3)

In 2015 completed merger exercise with OSK Property Holdings Berhad and PJ Development Holdings Berhad (revenue after merger shown to be increased significantly)  

Dividend - around 3-5%

Net asset: Price below Net Asset
Debt to Equity: 0.60
Current Ratio: OK

Pseudo-DCF (10%, 10 years period): 0.84-1.36
Technical: 0.85-0.87 
Overall: Green   

MNRB Holdings Berhad MNRB Code 6459

Stock Name : MNRB
Code: 6459

Nature of Business: Reinsurance Business, Takaful Business, Retakaful Business and Investment holdings 

Low PE (quite consistent earning, earning rebound since 20Q4) 

Recorded 7.9 mil net profit in 20Q3 quoted from quarter report due to severe large claim 

Dividend - around 3% (missed dividend for FY15-FY18)

Net asset: Price below Net Asset
Debt to Equity: 3.10*
Current Ratio: OK

*higher debt to equity due to nature of business as reinsurer, there are contractual liability which will only realized when claim towards insurer arise

Pseudo-DCF (10%, 10 years period): 1.54-1.76
Technical: 0.88-1.15
Overall: Amber (due to missed dividend)

Allianz Malaysia Berhad ALLIANZ Code 1163

Stock Name : ALLIANZ
Code: 1163

Nature of Business: Life & General Insurance

Low PE (shown improvement in revenue growth and net profit growth, net profit doubled within 7 years)

Fluctuation in net profit is common in insurance business when there is increase in claims there will be decrease in net profit, company had shown increase in reserve and insurance business in terms of contract liability

Dividend - higher dividend distributed for past 3 years, around 4%

Net asset: Price below Net Asset
Debt to Equity: 4.25*
Current Ratio: OK

*higher due to nature of business, insurance contract liabilities does not immediately realized as claims come in later days

Pseudo-DCF (10%, 10 years period): 13.24-24
Technical: 12.00-13.00
Overall: Green   

Khind Holdings Berhad KHIND Code 7062

Stock Name : KHIND
Code: 7062

Nature of Business: Manufacture and sale of electrical home appliances and distribution of industrial electrical products. 3 divisions namely Investment Holding Division, Trading and Services Division, and Manufacturing Division.

Low PE (there was some growth in revenue and profit over the years, last quarter group achieved higher net profit). All three divisions recorded better profit since 20Q1.

Dividend - around 2% (missed dividend in 2017 and 2019)

Net asset: Price below Net Asset
Debt to Equity: 1.0
Current Ratio: OK

Pseudo-DCF (10%, 10 years period): 3.85-4.00
Technical: 3.1-3.3
Overall: Amber (due to missed dividend, debt to equity 1.0)

Insas Berhad INSAS Code 3379

Stock Name : INSAS
Code: 3379

Nature of Business: Technology, property investment holdings, structured finance, corporate advisory & stock broking, investment holding & trading, car rental & logistics, retailer of high fashion products and operators of F&B outlets.

Covid-19 affected technology, retail trading and car rental division. Net profit significantly reduced from annual 81.9 mil (2019) to 14.9 mil (2020), net profit rebound since 20Q4 to all time high 82.2 mil on 21Q2.

The higher profit last quarter quoted was due to disposal of financial assets at fair value through other comprehensive income.   

Dividend - around 1-2%

Net asset: Price below Net Asset
Debt to Equity: 0.28
Current Ratio: OK

Pseudo-DCF (10%, 10 years period): 0.62-2.8
Technical: 0.84-0.86
Overall: Green 

Prolexus Berhad PRLEXUS Code 8966

Stock Name : PRLEXUS
Code: 8966

Nature of Business: Apparel, Textile an Advertising

Low PE (rebounded with higher net earning since 3Q2020, thereafter downtrending 23.9 to 15.2 to 8.8 mil last quarter), could be challenging during covid period

Dividend - do pay dividend every year however lower than risk free rate/fixed deposit

Quoted from last Quarter Report, started selling hijab to Muslim community domestically and middle east, planned to sell internationally. Assuming company able to capture higher domestic and overseas hijab market, there may be growth  

Net asset: Price below Net Asset
Debt to Equity: 0.45
Current Ratio: OK

Pseudo-DCF (10%, 10 years period): 1.4-1.90
Technical: 1.00-1.10
Overall: Amber (due to lower dividend yield)

Asian Pac Holdings Berhad ASIAPAC Code 4057

Stock Name : ASIAPAC
Code: 4057

Nature of Business: Property Development and Property Investment

Low PE (MCO affected the group earning, however it seems earnings rebound from previous loss since 2Q2021, share price have improved from previous low as well 0.06 to 0.205 to 0.17, last quarter recorded profit before tax of 23.3 mil where 16 mil were from short term investment)

There was one time recorded profit before tax of 511.4 mil in Q42015, the increase quoted due to fair value gain on investment properties and changes in accounting framework

As the business involve mall space leasing and parking, if prolonged Movement Control Order earning may be challenging, it seems company has found a way to invest capital for short term gain

Dividend - Last Dividend in 2015, no recent Dividend

Net asset: Price below Net Asset
Debt to Equity: 0.85
Current Ratio: OK

Pseudo-DCF (10%, 10 years period): 0.11-0.16 
Technical: 0.11-0.17  
Overall: Amber (due to no Dividend) 

Ageson Berhad / AGES Code: 7145

Stock Name : AGES
Code: 7145

Nature of Business: Property, Construction & General Trading

Low PE (diminishing revenue since 2014, but improved net profit since 2Q2020)
Improvement in profit quoted due to increase in recognition of progress billing in the Construction Division

Dividend - Nil

Net asset: Price below Net Asset
Debt to Equity: 0.40
Current Ratio: OK

Pseudo-DCF (10%, 10 years period): 0.06-0.13
Technical: 0.12-0.13
Overall: Amber (due to no dividend yield)  

Paramount Corporation Berhad / PARAMON Code: 1724

Stock Name : PARAMON
Code: 1724

Nature of Business: Property, Co-working Business and Education

Low PE (there was one time 486.7 mil net earning in FY2020, this have caused PE to be low in stock screen, average net earning should be around 90-130 mil, doubled within 5 years since 2013)

Dividend - more than 8% if bought at less than MYR 1 (historical 2-3 times annually)   

Net asset: Price below Net Asset
Debt to Equity: 0.75
Current Ratio: OK

Pseudo-DCF (10%, 10 years period): 0.58-0.84
Technical: 0.70-0.80  
Overall: Green