Highlights
KLSE: PANAMY (3719)       PANASONIC MANUFACTURING MALAYSIA BHD MAIN : Consumer
Last Price Today's Change   Day's Range   Trading Volume
33.70   +2.20 (6.98%)  31.70 - 33.76  27,600
Analyze this stock with MQ Trader system

Overview

Market Cap: 2,047 Million
NOSH: 61 Million
Avg Volume (4 weeks):16,394
4 Weeks Range:30.74 - 36.20
4 Weeks Price Volatility (%):
54.21%
52 Weeks Range:30.74 - 41.20
52 Weeks Price Volatility (%):
28.30%
Average Price Target: 33.27
Price Target Upside/Downside: -0.43

Financial Highlight

Latest Quarter | Ann. Date 30-Sep-2019 [#2]  |  25-Nov-2019
Next QR | Est. Ann. Date: 31-Dec-2019  |  27-Feb-2020
T4Q P/E | EY: 19.62  |  5.10%
T4Q DY | Payout %: 6.71%  |  131.55%
T4Q NAPS | P/NAPS: 12.62  |  2.67
T4Q NP Margin | ROE: 9.54%  |  13.61%

Headlines

Date Subject
02-Dec-2019 Panasonic Manufacturing Malaysia - Middle East Sales Bottoming Out?
26-Nov-2019 Panasonic Manufacturing Malaysia Bhd - Growing ASEAN Market
26-Nov-2019 Mplus Market Pulse - 26 Nov 2019
26-Nov-2019 Panasonic Manufacturing Malaysia - Middle East Sales Bottoming Out?
18-Oct-2019 9 things I learned from the 2019 Panasonic Malaysia AGM - Young Jia Yi
24-Sep-2019 Panasonic Manufacturing Malaysia - Middle East Dry Run to Continue
24-Sep-2019 Panasonic Manufacturing Malaysia - Middle East dry run to continue
06-Sep-2019 10 things to Know about Panasonic Malaysia before you invest - Ian Tai
28-Aug-2019 Panasonic Manufacturing Malaysia - Sales to Middle East Stutters Again
28-Aug-2019 Panasonic Manufacturing Malaysia Berhad - Dividend Payout Expected to Remain Attractive
28-Aug-2019 Panasonic Manufacturing Malaysia - Sales to Middle East Stutters Again
26-Aug-2019 松下电器 · 创造更美好生活与世界
10-Jul-2019 [转贴] [PANASONIC MANUFACTURING MALAYSIA BHD:对中东市场的出口预计将在下一个财政年度缓慢复苏] - James的股票投资James Share Investing
04-Jun-2019 Panasonic Manufacturing Malaysia - Middle East Sales Issues
29-May-2019 Panasonic Manufacturing Malaysia Berhad - Another Year of Generous Dividend Payout
29-May-2019 Panasonic Manufacturing Malaysia - Middle East Sales Issues
28-Feb-2019 Panasonic Manufacturing Malaysia Berhad - Continue Slowdown in Export Sales
28-Feb-2019 Panasonic Manufacturing Malaysia - Slow Sales Expected

Business Background

Panasonic Manufacturing Malaysia Bhd is engaged in the manufacture and sale of electrical home appliances and related components. Business activity of the group is breakdown into two segments namely home appliance and fan products. The product portfolio of the group consists electric fan, ceiling fan, ventilating fan, home shower, vacuum cleaner, rice cooker, slow cooker, blender, juicer, electric iron, dish dryer, and bidet. Geographical it operates in the region of Malaysia, Japan, Asia (excluding Malaysia and Japan), North America, Europe and the Middle East of which Malaysia region accounts for major share of revenue.
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  8 people like this.
 
RainT wow

up RM2.82, who is the buyer, willing to buy at such high price?? haha

hope more up to come
16/12/2019 5:54 PM
ChickyWaWa From 37.10, shot up to 39.92, then drop back to 37.10. Syok
17/12/2019 5:38 PM
fong7 very syok! hahaha!
obviously, insider buyer and seller, doing nothing to retailers like us, we can only watch.
17/12/2019 11:21 PM
techlee229 Panasonic Manufacturing Malaysia Bhd’s net profit fell 9.8% to RM30.79 million in its second financial quarter ended Sept 30, 2019 (2QFY20) from RM34.13 million a year ago, on lower sales in the domestic market for both home appliances and fan products.

Panasonic also attributed the lower quarterly earnings to the reduction in interest income, as well as a share of losses from the associated company of RM1.1 million versus a share of profits of RM1.3 million last year.

As a result, earnings per share fell to 51 sen for 2QFY20 compared with 56 sen for 2QFY19, a bourse filing showed today. Quarterly revenue also declined 6.6% to RM288.59 million from RM308.81 million in 2QFY19.
20/12/2019 11:12 AM
lching keep dropping amid low volume
22/01/2020 4:29 PM
William Ng still expensive
22/01/2020 11:53 PM
paperplane if div still ok, keep it still
29/01/2020 3:25 PM
RainT Coming qtr wil be bad ?

keep on slide down
05/02/2020 11:12 AM
Winklse188 Panasonic has a home appliance plant in hangzhou, which is now under lockdown.. more opportunities for the manufacturing volume transfer to Shah Alam
And fill Up the capacity, good chance
09/02/2020 10:59 PM
fong7 past few days (including today) has quite large sell queue, looks like some institution fund is doing transferring to other institution fund at current price. Since the sell side won't expect retailers to take out that kind of amount, i bet.
10/02/2020 11:40 AM
RainT what is the reason share price down recently?
14/02/2020 10:00 AM
RainT who is selling at lower price ?
14/02/2020 10:01 AM
PuppyKitten Anything above 30 still considered overvalued as growth prospect is not there
14/02/2020 12:47 PM
RainT haha

growth prospect not there??

it shows that u dont do homework on PANAMY

They have acquire land to do expansion

PANAMY style is slow & steady

so less worry and less heart attack

also less time need spend to monitor it
17/02/2020 10:09 AM
PuppyKitten Wait Panamy below 30, u will cry again like Aji. Then start asking again will it come down again ? Will think on what factor bring down Aji profit ? Will bla bla bla again @@@
17/02/2020 4:26 PM
PuppyKitten I bought since 20++ and it shot up till 39.9 but I din sold , and come down till nearing 30. I still keep. It shot up again till 38.XX and I disposed all. Though it shot till 40.xx but there is no regret. It come down now and will further come down. What is FA? This is FA. U dunno or I dunno. With ur statement , I puzzle d @@@
17/02/2020 4:37 PM
RainT PANAMY share price drop

the will have idiot come out said PANAMY good for dividend yield at 7%, haha
17/02/2020 4:46 PM
apolloang tak apa lah the number 1st prize in 4d.....3719.....hahaha
17/02/2020 4:49 PM
PuppyKitten 68 cents drop !! Panamy expansion is so good till bumbung bocor !! And share price Rain ing ... TTTTTT . RAINT , very good name given. All counters bought by u, share price HUJAN ....
17/02/2020 4:59 PM
PuppyKitten The greatest and first idiot is RAINT , congratulations !!
17/02/2020 6:23 PM
icepumpkin So sad keep dropping.
17/02/2020 8:30 PM
RainT dont worry

will find it support price soon

have faith in PANAMY
18/02/2020 2:29 PM
apolloang better buy the 4d 1st price than buy the stock......hahaha
18/02/2020 2:30 PM
RainT who is the idiot keep on sell low?
18/02/2020 3:37 PM
icepumpkin I always have faith in panamy. But price drop everyday.
18/02/2020 4:51 PM
PuppyKitten The idiot always say others as idiot, just like Tin Kosong always say Tin itu KOSONG @@
18/02/2020 5:59 PM
Fabien "The Efficient Capital Allocater" included Panamy in watchlist
18/02/2020 8:04 PM
icepumpkin Dividend still september. So long. If price keep dropping.. so sad.
18/02/2020 10:20 PM
wsy5023 Only one way down :(
19/02/2020 10:48 AM
RainT who dare to collect now?

raise hand
19/02/2020 11:20 AM
PuppyKitten Idiot sell, genius fast buy lo, if not run chicken lo, or chicken run away lo @@
19/02/2020 11:29 AM
wsy5023 Puppy.
The impact of Covid really huge on this one. Sacarsm aside, do u think it's still a good company to invest in?
19/02/2020 11:56 AM
RainT PANAMY still a good company

waiting PE down to 15 times first
19/02/2020 12:08 PM
PuppyKitten It is hard to tell whether good or not in plain words or in just few words. I try to explain the situation but there is a GENIUS so great so I better keep quiet and see how good the genius is.

Back to the topic.
After my full disposal at 38, I can say I have almost fully deleted this counter, even in watchlist. I come back here, is due to my friend alert me on price fall.

On expansion , company announce on expansion plan, capex about 80M, in 2016 ( capex value and year , I just recall from my memory , let me know if I stated wrongly ) I were in the AGM.
What happened after expansion announcement ? Company delayed for one year on expansion, reason given is the outlook is not so good , at that time ( think around 2017 ). Then company resume its expansion plan. BUT, the huge expansion is only for 25% capacity expansion.

I think the expansion capacity is completed or nearing completed ( pls update me the status )
After the expansion program started , the revenue and the profit is actually going down, not going up. Seems demand for company product is going down. The expansion seems is for LONGER TERM than we expected. Short to medium term, it can't make positive impact on profit.

Key point to highlight.
(Profit figure and ratio is from my memory)

50% of profit is from fan.
50% is for home appliance.

Why profit down.
1. Fan contribution drop, due to property sector slow down. Company even said in QR ( years ago ) contract awarded from government project for Panasonic fan will be huge reduced. So now, property sector improved ? How is export market for this fan product? As an investor, we need find out .

2. Home appliance. This is better profit margin segment. How is company performance on this ? How is the prospect for this market, we need find out.

3. Key market is Malaysia and Middle East.
Malaysia , we can know better.
Middle East, how is Middle East market? We need monitor closely. This is about 20% of company revenue and profit. Up or down will directly impact peformance

4. I still remember when middle East see softer profit, company had good penetration in Vietnam. So now, Vietnam, and other export market and new export market we need to find out in details.

Think last year, or even earlier, eps keeps reducing. For the EPS, for me, panamy should not worth this much value. But y share price still maintained there?
Reason is EPF is supporting the price. I have mention to my friends, even my remisier, panamy is over valued.

But what people see is price, I see is value. So, Susah to discuss unless price really come down.

Then, another factor lift up the price is, company declare huge dividend. A dividend amount which is a lot larger than profit.
Question now ? This big dividend sustainable ? If yes, can sustain for how long with dividend more than profit ?
If no, why ??

So, how much Pamamy worth now ?

I have my method. But I can't say here. Y ?
Other than FA analysis, another factor affecting the price is short term supply demand of company shares, and GORENG or MANIPULATING factor.

I dun want waste time argue with the idiot here. So, I better keep quiet.
If we are good, then we r good.
If we are not, then we r good.
19/02/2020 12:31 PM
PuppyKitten # if we r not good, then we r not good.
19/02/2020 12:37 PM
PuppyKitten Other than TA and FA analysis, I found that there is one genius called RainT, had invented a new method, IA: imagination analysis. Analysis based on self imagination and ignored totally the fact and data.

Hope this IA brings tonnes of money to this GENIUS, and BIG CONGRATULATUONS to him to be included in HALL OF FAME !!
19/02/2020 12:44 PM
remus @PuppyKitten thanks sharing. Can you please comment on below,
as per Sep'19 QR, the company has net cash of 549mil or RM9 per share!
hence the dividend payout > EPS, maybe simply bcoz the company got too much cash?
also, if take RM31 - RM9 = RM22, then the PE is only 13x ?
19/02/2020 1:41 PM
wsy5023 Thank you @PuppyKitten
Great sharing!
19/02/2020 1:58 PM
PuppyKitten Yes , company have huge cash. So, last two years company dividend more than profit. Will this be a new norm or ... ? We dunno. I din attend AGM for few years d so no chance to ask. If company dividend policy is still the same, then it should be 50% payout.
If not mistaken, company huge cash, main purpose is served as "internal financing agent "( I dunno how to name this ) , ie. to fund financing needs to Panasonic subsidiaries, with interest, be it under Panamy or not. So, future huge dividend is sustainable? Only company knows, unless they declared it officially to change payout ratio.
19/02/2020 2:12 PM
PuppyKitten Cash per share RM 9, if company distribute out , yes, it is good to shareholders , and good to share price. If they dun distribute out, it is just like a numeric value under NTA ONLY, nothing to shout of.

On ur way to count PE by deducting the cash, I have no comment, and dunno how to comment.
Last time I use this method also, but now no more.

NTA valuation method , last time a very popular method. But now not seems so.
After NTA method then come value investing.
And now the most powerful method is value growth investing.
Undervalued made us have margin of safety, good growth will bring profit higher and higher, of course, share price will go up in tandem with profit ( and dividend )
19/02/2020 2:21 PM
wsy5023 Thank you puppy! Btw, is there anyway to contact you or do you have any blog/forum/page? Very interested to learn more from you.
19/02/2020 2:34 PM
PuppyKitten wsy5023@ do more charity, help more stray dogs and cats, we will gain wisdom ^_^
19/02/2020 5:07 PM
icepumpkin Sad to hear about panasonic. It is such a good stock before.
19/02/2020 5:46 PM
icepumpkin Thanks for sharing.
19/02/2020 5:46 PM
PuppyKitten # my comment was purely based on my previous analysis on Panamy. I have lose track on Panamy for more than two years I think. For share price to go up or down, key factor is its future earning, and current valuation. Pls do own work on its prospect. Dun simply trust a stranger in this web world.
19/02/2020 6:12 PM
fong7 wow, dropped pretty seriously recently.
19/02/2020 8:28 PM
PuppyKitten @ remus ,

company pay huge dividend, another highly possible reason is , PARENT COMPANY need the cash. So, Panamy have to follow parent company needs. Parent company normally hold more than 50% of company share. So, the more they declare, the more they will get. Dividend payment is the ONLY way that the company can send back the cash back to its parent company. For Panamy case, big dividend is still acceptable, as there is still big cash left.

On 2016 AGM, the chairman responded to unhappy shareholder on 50% payout : before u buy Panamy , u already know this is 50% payout, and now u complain on 50% payout. Since the share price is good at 38, and if u not happy with us, please sell ur share !!
Totally untolerate with shareholders.
19/02/2020 11:13 PM
remus @PuppyKitten thanks sharing. Chairman got character ya Hhh. But they did increase the payout to 115%~130% next 3 years! I think you are right, likely declare dividend to channel cash back to parent company. Many Japanese & Taiwanese companies seems doing so also.
Another factor is EPF a major shareholder, will want them to declare high dividend to pay us interest also : )

Historically, seems everytime when they declare special dividend then the stock price will rise back.
20/02/2020 9:00 AM
PuppyKitten As long as they still have big cash , they are afforded to pay big. Cash level need be monitored.

Case study : Dlady once pay big dividend. A lot more than profit. BUT , how many time they can do that ?!

Now, they need cut dividend !! They need incurred borrowing where they were in zero debt for so long !!
20/02/2020 9:11 AM
remus Oh ya, thanks reminder. Dlady is a good case study. Once cash depleted & can't see the growth prospect .... ppl dump the stock like no tmrw
20/02/2020 1:19 PM


 

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