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1,262 comment(s). Last comment by weng at Nov 26, 2020 5:57 PM
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uptrending
1726 posts

Posted by uptrending > Feb 14, 2018 5:22 PM | Report Abuse

IamEth

Buy opptunity ma...
Let those who have no confidence sell lo...
Stock market is never efficient
We can just capitalise on it if we think the price and the value is way mismatched and undervalued...

Today bought again average 1.439..

Tomorrow will continue to buy if it goes red... Hehe...


ikenduit
414 posts

Posted by ikenduit > Feb 14, 2018 5:25 PM | Report Abuse

Buy at discount slowly before QR out.


uptrending
1726 posts

Posted by uptrending > Feb 14, 2018 5:36 PM | Report Abuse

Opportunity


Rica7894
165 posts

Posted by Rica7894 > Feb 19, 2018 9:02 AM | Report Abuse

Moving on, based on customers’ feedback and projections, this year should be another double-digit percentage growth year for the group, according to group managing director Alvin Mui.

“For the first quarter 2018, P.I.E expect to ship out over RM130mil worth of PCBA and box-built products.

“Like the first quarter of 2017, this first quarter is not weak.

“Previous first quarters as in 2016 and 2015 were not very strong quarters, as we shipped out less than RM120mil worth of products,” Mui added.


uptrending
1726 posts

Posted by uptrending > Feb 19, 2018 6:05 PM | Report Abuse

http://www.klsescreener.com/v2/news/view/343417


uptrending
1726 posts

Posted by uptrending > Feb 19, 2018 6:07 PM | Report Abuse

KLSE Screener

PIE eyes contracts for supply of box-build electronics
TheStar Mon, Feb 19, 2018 - 18 hours ago




GEORGE TOWN: PIE Industrial Bhd hopes to finalise contract talks with several big multinational clients by the third quarter of this year for the supply of box-build electronics.

Group managing director Alvin Mui told StarBiz that one of the box-build was for the industrial and commercial printing markets.

“This area is seeing growth because there now new equipment capable of handling multiple applications with innovative ink, coatings and functional fluids,” he said.

The global industrial printing market is projected to grow to US$114.8bil by 2022, according to a Smithers Pira report.

“Asia, North America, and Western Europe are the growth areas, as there are large printing companies supplying electronics and environment materials, films and interior décor materials,” he said.

The commercial printing market is projected to grow to US$317bil in 2022, led by the packaging business, according to a recent Technavio report.

Asia Pacific currently dominates the global commercial printing market with 42% share in 2017.

“As we are in Penang, we are in a very good position to tap into the Asia Pacific market. For us, we look forward to supporting also the advertising and industrial industries with the new box-build electronic equipment,” he said.

Mui said once the deal is secured this year, the contribution to the group should come in 2019.

On top of new box-build projects, Mui said the group was expecting its printed circuit board assembly (PCBA) business to contribute about 50% to this year’s revenue.

The PCBA are used in sensor devices and bar-code scanners.

“The sub-assembly work for the PCBA division has grown recently. About four years ago, the contribution to the group’s revenue was between 25% to 30%.

“We manufacture the cables and plastic and metal parts for the sub-assembly work.

“Last year, the contribution improved to about 40%. In 2018, the contribution is projected to be about 50%,” he said.

Moving on, based on customers’ feedback and projections, this year should be another double-digit percentage growth year for the group.

“For the first quarter 2018, we expect to ship out over RM130mil worth of PCBA and box-built products.

“Like the first quarter of 2017, this first quarter is not weak.

“Previous first quarters as in 2016 and 2015 were not very strong quarters, as we shipped out less than RM120mil worth of products,” Mui added.

The group currently operates in four plants in Seberang Jaya, where the utilisation of the production area is almost 80%.


Farmost
30 posts

Posted by Farmost > Feb 20, 2018 4:15 PM | Report Abuse

Up up up


mobidick
131 posts

Posted by mobidick > Feb 20, 2018 4:44 PM | Report Abuse

what happen here? Just after a lot of ppl give up on this counter, it does U turn. What??


ikenduit
414 posts

Posted by ikenduit > Feb 20, 2018 5:30 PM | Report Abuse

Slow and steady uptrending


newbie911
1043 posts

Posted by newbie911 > Feb 20, 2018 11:59 PM | Report Abuse

This q over 30million net profit...buy before late


mobidick
131 posts

Posted by mobidick > Feb 21, 2018 9:18 AM | Report Abuse

Just bought @1.66, this counter looks like going to explode, and not even declare their qtr report yet.


Farmost
30 posts

Posted by Farmost > Feb 21, 2018 11:01 AM | Report Abuse

Target price rm1.80 from rhb


Farmost
30 posts

Posted by Farmost > Feb 23, 2018 8:34 AM | Report Abuse

Any others latest news???


ikenduit
414 posts

Posted by ikenduit > Feb 23, 2018 6:41 PM | Report Abuse

Can share the link?


VenFx
14024 posts

Posted by VenFx > Feb 23, 2018 6:52 PM | Report Abuse

Wow , result is very good.
If u put it on a yoy basis.

Not bad at all.


trulyinvest
2384 posts

Posted by trulyinvest > Feb 23, 2018 7:43 PM | Report Abuse

Poor result... no hope


uptrending
1726 posts

Posted by uptrending > Feb 23, 2018 10:07 PM | Report Abuse

http://www.m.malaysiastock.biz/Corporate-Infomation.aspx?securityCode=7095&section=financial


uptrending
1726 posts

Posted by uptrending > Feb 23, 2018 10:19 PM | Report Abuse

Included in the 4Q PBT and PAT, is an Rm8 million impairment bad debt reversed (received) in the 4Q and incurred in the previous Quarter.

The 4Q revenue dropped from Rm193.5M to RM182.3M, PAT dropped from Rm23.6M to Rm15.8M


ikenduit
414 posts

Posted by ikenduit > Feb 23, 2018 11:21 PM | Report Abuse

Not bad


mobidick
131 posts

Posted by mobidick > Feb 24, 2018 12:46 AM | Report Abuse

@uptrending, isnt the impairment 11m++? Why received 8m only? Incomplete debt recovery?


Highfive Bread
215 posts

Posted by Highfive Bread > Feb 24, 2018 2:03 AM | Report Abuse

Taken into account in this coming qtr. Tax planning. Paying too much tax already.


iamEth
19 posts

Posted by iamEth > Feb 24, 2018 11:47 AM | Report Abuse

Can somebody explain to me how’s the result ?


newbie911
1043 posts

Posted by newbie911 > Feb 24, 2018 12:26 PM | Report Abuse

Monday fly to Rm2 !!!


uptrending
1726 posts

Posted by uptrending > Feb 24, 2018 12:41 PM | Report Abuse

P.I.E. INDUSTRIAL BERHAD (COMPANY NO.: 424086-X)
NOTES TO THE UNAUDITED INTERIM FINANCIAL REPORT
FOR THE 4TH QUARTER ENDED 31 DECEMBER 2017
(NOTE 21)
Profit for the Period
Quarter Ended........................ Period Ended
31.12.2017 31.12.2016 31 12.2017 31.12.2016
RM'000........ RM'000..............RM'000 RM'000
Profit for the period is arrived at after
crediting/(charging) :
Interest income 346 279 1,299 1,043
Investment income 1,001 825 3,415 2,835
Interest expenses - (53) - (427)
Depreciation and amortisation (3,711) (4,050) (15,759) (16,115)
Net reversal/(addition) of impairment losses
- trade receivables 8,089 854 (5,358) 1,302
Net reversal/(addition) of inventories
written down 7,390 (2,201) 11,058 (3,824)
Net gain/(loss) on disposal of :
- property, plant and equipment 115 10 255 2
- investment - - 8 12
Bad debts written off - (3) - (3)
Net foreign exchange gain 1,804 6,386 8,522 10,645
Gain from fair value adjustment of
investment properties 75 75 214 75
(Loss)/Gain from fair value adjustment of
financial assets through profit and loss (12) 2 38 (8)


uptrending
1726 posts

Posted by uptrending > Feb 24, 2018 12:47 PM | Report Abuse

Mobidick,

You are right. The big client paid for the debt progressively and at the end of the quarter, the impaired debt collected was Rm8. 089M as per NOTE 21 of the 4Q financial statements ..

Note also that there is a net reversal of inventory written down of rm7. 399M for the quarter. The Q results is disappointing to me. Overall for the whole year, however, is average.


KISSinvest
134 posts

Posted by KISSinvest > Feb 25, 2018 1:20 PM | Report Abuse

now you know why the share price is trending down. market can be inefficient sometimes, but it can be efficient at times.


uptrending
1726 posts

Posted by uptrending > Feb 25, 2018 10:35 PM | Report Abuse

Kissinvest,

If you have bought at 1.4+, you would be laughing all the way to the bank...

The market is never efficient by the way...


uptrending
1726 posts

Posted by uptrending > Feb 25, 2018 10:38 PM | Report Abuse

But would ultimately settle at the fair value over time.. :)


Highfive Bread
215 posts

Posted by Highfive Bread > Feb 26, 2018 12:00 AM | Report Abuse

PIE has to record sales revenue according to the major client's new payment policy,it cannot bookin sales as before as it will result in impairment cost again,if it were to do as before. Sales Revenue is a better indication of its performance. PBT has gone up even though sales has gone down by 10m but has to pay more in taxes. It will takes another qtr. for things to normalize . There is a 10% penalty for getting its tax payment wrong. A lot of investors don't know this. Tax planning is important in a business. I am not surprise if it has carried forward some sales to this qtr. As long as the next qtr. sales is good then I will not be complaining. PIE is targeting a Billion in sales revenue and I am waiting for this. This qtr. is a better indication of the company prospect. I will have a better judgement after this year as to carry on holding PIE shares or not.


uptrending
1726 posts

Posted by uptrending > Feb 26, 2018 11:41 AM | Report Abuse

Highfive Bread

"PIE has to record sales revenue according to the major client's new payment policy,it cannot bookin sales as before as it will result in impairment cost again,if it were to do as before.."


HI 5, Would you mind to share from where you got this info?

Thanks


uptrending
1726 posts

Posted by uptrending > Feb 26, 2018 1:42 PM | Report Abuse

It is very weird to send out goods without billing and send invoice.

How the management accounts for it? How the goods so delivered is treated in the account?

The management can only not to impair the overdue receivables but not to holding back the invoice...

I really doubt what you have posted...
If it is true, it is very unprofessional..


Highfive Bread
215 posts

Posted by Highfive Bread > Feb 26, 2018 2:10 PM | Report Abuse

Uptrending,Pie has no choice but to bill the client according to the client payment policy. Pie has no choice as its own policy will account for impairment after a certain period. Yes,it is unprofessional.


Highfive Bread
215 posts

Posted by Highfive Bread > Feb 26, 2018 2:23 PM | Report Abuse

Another thing is Pie has to pay gst up front too. That is the real business world,every thing is not according to the book. Unprofessional indeed. Agreed.


uptrending
1726 posts

Posted by uptrending > Feb 26, 2018 6:15 PM | Report Abuse

Highfive,

You seem to know the company inside out..
Are you from Penang?


Highfive Bread
215 posts

Posted by Highfive Bread > Feb 26, 2018 6:58 PM | Report Abuse

Started following Pie in 2009


Highfive Bread
215 posts

Posted by Highfive Bread > Feb 26, 2018 7:57 PM | Report Abuse

Sorry Uptrending,started following Pie in 2007.


uptrending
1726 posts

Posted by uptrending > Feb 26, 2018 9:34 PM | Report Abuse

Wow! Good!
No wonder you know the company so well..


Highfive Bread
215 posts

Posted by Highfive Bread > Feb 28, 2018 1:35 PM | Report Abuse

While record-high sales were within expectations, CNP missed owing to weaker USD and high material prices, which led us to cut our FY18E CNP by 19%. That said, we remain hopeful on the group’s mid-term prospect, premised on the existing and new orders from MNC clients. We see better value proposition following the recent share price correction, with its forward PER only trading at 12.2x vis-à-vis its EMS peers’ 14.0x PER. Maintain OP with a lower TP of RM2.10.

Record-high revenue; but bottom-line impacted by broad-based dampeners. Despite record-high revenue in 4Q, the group’s CNP was not spared the adverse forex impact and high material costs. Note that the USD/MYR swing during the quarter was high, from RM4.23/USD to RM4.05/USD while raw materials (copper +7% QoQ and other components) were mostly purchased during the strong USD period. As a result, FY17 CNP only made up 74%/79% of our/consensus earnings estimates. Note that CNP has been adjusted for; (i) net addition of receivables impairment amounting to RM5.4m, (ii) net reversal of inventories written down of RM11.1m, and (iii) other immaterial items. Absence of DPS was expected in this quarter. The group typically declared dividends after 4Q results; which we believe the pay-out for FY17 will be maintained at least 40% and above.

YoY, FY17 revenue improved by 17% driven by its lion’s share manufacturing segment (+16%). While the strong quantum of growth can be partly attributed to the low base in FY16, one should take note that the absolute sales were at record high, thanks to the continuing orders loading (for both EMS activities & raw wire and cable products) from existing customers. While adjusted EBIT grew 19% on slight margin uptick of 1.3ppts from continuous yielding improvement, CNP grew only by 10% on higher effective tax rate of 24.3% (vs 21.1% in FY16). QoQ,

despite the higher loadings in 4Q17 which saw its revenue improving by 16% alongside the core EBIT improvement of 12%, while core NP dropped by 38% on much higher taxation of RM7.4m (vs. last quarter’s RM0.7m).

Resilient sales in FY18; however forex and raw material costs are not in favour. From our last meeting, management noted that the orders visibility and hit rates are better; with decent orders loadings (for both EMS activities + raw wire and cable products) grabbed from other global competitors. Meanwhile, two out of the four new projects, being the manufacturing of industrial electronics parts (OEM) and ODM project with a renowned MNC should continue to see traction. On the other hand for costing, nearly 85% revenue of the group is denoted in USD, with natural forex hedging from raw materials purchases (mainly in USD) which constitute about c.60% of total costs. Based on our sensitivity analysis, every 1% fluctuations in the USD and raw materials from our new base case assumption of RM3.90/USD (from previously RM4.10/USD) will impact our Fwd. NPs by c.2%. All in, as we believe the group faces difficulty in passing the overall cost hike to customers, we see cost pressure continuing to suppress profitability, leading us to cut our FY18E CNP by 19% despite minor changes on the sales drivers. We expect recovery in FY19E CNP (+18%) with the assumptions of new contracts being secured on similar margins assumption.

Maintain OUTPERFORM with a lower TP of RM2.10 (15.0x FY18E PER), from RM2.65. We see better value proposition following the overdone share price correction, with its Forward PER only trading at 12.2x, a 14% discount to its closest EMS peers which is trading at 14.0x PER. Moreover, the group also offers relatively higher NP margin, more advanced manufacturing capabilities as well as having strong parentage support from Foxconn Technology Group. Maintain OUTPERFORM.


Highfive Bread
215 posts

Posted by Highfive Bread > Feb 28, 2018 1:38 PM | Report Abuse

The above article was by Kenanga on 26/2/18.


miker
708 posts

Posted by miker > Mar 4, 2018 11:24 AM | Report Abuse

No more good dividend? Only 5 cents? haiyaakkkk....


Highfive Bread
215 posts

Posted by Highfive Bread > Mar 4, 2018 10:48 PM | Report Abuse

Share split so 5 times 5cents = still 25cents


sapurakencana
1024 posts

Posted by sapurakencana > Mar 5, 2018 10:33 AM | Report Abuse

Article from The Edge

For the fourth quarter ended Dec 31, 2017 (4QFY17), PIE’s net profit grew 2.7% year-on-year (y-o-y) to RM23.86 million on lower administrative and distribution expenses, higher income from scrap sales, a reversal of impairment of trade receivables and provision for slow-moving inventories.

The improvement in earnings was offset by lower revenue and foreign exchange (forex) gain, and higher cost of sales.

Quarterly revenue, however, dipped 5.3% y-o-y to RM183.29 million due to reduced demand from existing customers for EMS but partly offset by higher revenue recorded for raw wire and cable products, wire harness products and trading activities.



PIE, which is in the business of manufacturing and trading, is upbeat about the group’s performance going forward, expecting revenue to hit RM1 billion within three years based on its current capacity and capability to produce.

“Actually it is not difficult [to achieve]. Looking at our [past] quarterly earnings, we are already hitting close to RM200 million in revenue. So, we have the capacity and capability to produce RM1 billion revenue. It just depends on securing relevant business and good sales,” said Mui.



From the above i dont understand is when Quarterly revenue, however, dipped 5.3% y-o-y to RM183.29 million due to reduced demand from existing customers for EMS but partly offset by higher revenue recorded for raw wire and cable products, wire harness products and trading activities. but on the other hand management so confident to their future revenue to hit RM1 Billion.

Answers yourself before invest.


Highfive Bread
215 posts

Posted by Highfive Bread > Mar 5, 2018 5:00 PM | Report Abuse

Sales revenue drop due to change in billing major customer. This customer change their payment policy.


sapurakencana
1024 posts

Posted by sapurakencana > Mar 5, 2018 8:55 PM | Report Abuse

Anyhow.dont falling into this trap.coming quarter will realise what you said is true or not.


Highfive Bread
215 posts

Posted by Highfive Bread > Mar 6, 2018 1:10 PM | Report Abuse

KUALA LUMPUR: Kenanga Research maintained outperform on PIE Industrial Bhd
image: https://cdn.thestar.com.my/Themes/img/chart.png

with an unchanged target price of RM2.10, underpinned by better earnings visibility in 2018.

The research firm said the counter's undemanding valuation with price-earnings of 11.4x vis-a-vis its EMS peers' 14x price-earnings offers an attractive entry level.

It said the group's core net profit was impacted by forex exchange and high material costs despite achieving record revenue in FY17.

"For FY18/FY19, we have conservatively assumed RM3.90/USD as the new base case. Based on our sensitivity analysis, every 1% fluctuations in the USD from our new base case assumption of RM3.90/USD will impact Fwd. NP by c.2%.

"After a series of hiccups over the past few quarters, i.e. components shortages, limited labour resources, and client’s technical glitches on new system adoption alongside stringent impairment policy, the group is set to sail a smoother 2018 with the above issues now being resolved."

Kenanga Research said management noted that order visibility and hit rates are better due to the consistent delivery of good products quality and advanced manufacturing capabilities that appeal to customers with more advanced products.

The group is expected to secure voluminous contracts in the industrial printing and production as well as medical segment.

"As these two contracts involve more complicated manufacturing processes, we believe that the margins
should be higher and hence, should be able to help the group to weather through the weaker dollar (or stronger ringgit) environment.

"Based on our estimates, should these two contracts be secured timely mass production should be seen in 3Q18 onwards with full earnings contribution in FY19. All in, this should comfortably support our 2-year revenue/CNP CAGR of 17%/23%."


Read more at https://www.thestar.com.my/business/business-news/2018/03/06/kenanga-maintains-outperform-on-pie-industrial/#GGs5wKStoh7vB6WR.99


Highfive Bread
215 posts

Posted by Highfive Bread > Mar 6, 2018 1:13 PM | Report Abuse

Judge for yourself. I am a nobody.


sapurakencana
1024 posts

Posted by sapurakencana > Mar 6, 2018 3:48 PM | Report Abuse

The group is expected to secure voluminous contracts in the industrial printing and production as well as medical segment.

"As these two contracts involve more complicated manufacturing processes, we believe that the margins
should be higher and hence, should be able to help the group to weather through the weaker dollar (or stronger ringgit) environment.

This statement still unreliable,anything can happen without the prove.let it happen first.


Striker90
1960 posts

Posted by Striker90 > Mar 11, 2018 12:09 PM | Report Abuse

http://www.enanyang.my/?p=1009189


Striker90
1960 posts

Posted by Striker90 > Mar 11, 2018 12:09 PM | Report Abuse

是否会对PIE 有冲击


iamEth
19 posts

Posted by iamEth > Mar 20, 2018 11:38 AM | Report Abuse

Why is the price couldn’t go up?

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