Highlights
KLSE: SAM (9822)       SAM ENGINEERING & EQUIPMENT (M) BHD MAIN : Industrial Products
Last Price Today's Change   Day's Range   Trading Volume
5.27   +0.21 (4.15%)  5.10 - 5.40  124,200
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Overview

Market Cap: 712 Million
NOSH: 135 Million
Avg Volume (4 weeks):93,450
4 Weeks Range:4.20 - 7.75
4 Weeks Price Volatility (%):
30.14%
52 Weeks Range:4.20 - 8.68
52 Weeks Price Volatility (%):
23.88%
Average Price Target: 11.30
Price Target Upside/Downside: +6.03
Stamp duty exempted for year 2020

Financial Highlight

Latest Quarter | Ann. Date 31-Dec-2019 [#3]  |  28-Feb-2020
Next QR | Est. Ann. Date: 31-Mar-2020  |  21-May-2020
T4Q P/E | EY: 8.15  |  12.26%
T4Q DY | Payout %: 0.00%  |  - %
T4Q NAPS | P/NAPS: 4.21  |  1.25
T4Q NP Margin | ROE: 9.92%  |  15.35%

Headlines

Date Subject
04-Mar-2020 Daily technical highlights – (GHLSYS, SAM)
02-Mar-2020 Sam Engineering & Equipment (M) Berhad - 3Q20 – in Line With Expectation, Lifted by Equipment Business But Outlook Challenging
01-Mar-2020 (Icon) Sam Engineering - Excellent Result. Share Price Can Potentially Double Within 2 Years
12-Feb-2020 上升股:SAM工程阻力RM8.34
29-Nov-2019 Sam Engineering & Equipment (M) Berhad - 2Q20 Within Expectation, Growth Momentum Continue
13-Nov-2019 Stocks on Radar - Sam Engineering & Equipment (M) (9822)
22-Oct-2019 (Icon) Sam Engineering - An Overlooked Semicon Play
03-Sep-2019 SAMEE - 1Q20 Strong Start, Wary of Semiconductor Outlook
25-Jul-2019 Trading Stocks - SAM Engineering & Equipment (M)
16-Jul-2019 下跌股:SAM工程RM7.82支撑
10-Jul-2019 Stocks on Radar - SAM Engineering & Equipment (9822)
09-Jul-2019 上升股:SAM工程阻力RM8.65
09-Jul-2019 Trading Stocks - SAM Engineering & Equipment (M)
23-May-2019 Mplus Market Pulse - 23 May 2019
09-May-2019 热门股:SAM工程上挑RM8.34

Business Background

SAM Engineering & Equipment (M) Bhd is a Malaysian company which provides precision machining, equipment integration and automation solutions to aerospace and equipment industries. The company is engaged in providing manufacturing solutions for critical engine parts and other related equipment parts and also on engineering and high precision tooling including large format CNC machining parts. It also provides for the arrangement of equipment engineering and solutions for commercial, semiconductor and other industries. The company manages its business in three segments namely Aerospace, Equipment manufacturing, and Precision engineering and generates the majority of the revenues from its business in Asia.
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  9 people like this.
 
flykly file:///Users/KhooLinYuan/Downloads/Airbus-GMF2019-presentation-Christian-Scherer.pdf
13/02/2020 10:14 PM
flykly fabien, spot on...total addresable market by airbus in next 15 years is USD5 trillion. Sam market cap USD220million. Virtually no other stock in Bursa has this playing field. If Sam were to expand 5 factories at one time, capacity would be full too.
13/02/2020 10:16 PM
flykly on top of this, in the semicon division, they have a Prototype. read their annual report they mentioned. blue ocean guys
13/02/2020 10:20 PM
Fabien "The Efficient Capital Allocater" Airbus Global Market Forecast 2018-2037 report estimates that over the next 20 years, 37,390 new passenger and freight aircraft will be needed. Of these, 10850 are to replace old aircraft and the remaining 26,540 new aircraft to cater for rising demand.
13/02/2020 10:24 PM
Fabien "The Efficient Capital Allocater" Currently, there is an average order backlog of 7-9 years for Boeing and Airbus aircraft.
13/02/2020 10:25 PM
RainT is it all is SAM?

means the 7-9 years order backlog frm Boeing n Airbus
14/02/2020 6:50 PM
RainT or have other supplier share with SAM as well?
14/02/2020 6:51 PM
Icon8888 Currently 50% revenue from aviation 50% from semicon related

It is a semicon play left behind
16/02/2020 6:58 AM
Philip ( Dr. Fauci my Hero) 90% of the 50% revenue from aviation is building engine cases for A320 neo and B737 max, which is the cheap medium range planes designed for shorter commercial routes with lower fuel and more seating space.

90% of the other 50% from semicon related is mainly for HDD supply, with lower concentration is SDD.

What is the long term prospects of these two divisions? Highly specialized machinery and plant equipment with high capital costs, a niche product and a specific group of customers.

The 2 bigger player comparisons of suppliers to Boeing and Airbus, and hard disk space

Liebherr aerospace ( parts construction, including engine casing for 777 etc) space
Western digital ( HDD) space

7-9 backlog of plane deliveries. 2.8 billion in book orders. Airbus corruption case. B737max grounding worldwide. Quarterly report guidance on next quarter increase in HDD parts orders.

What second level thinking can we apply here?
16/02/2020 8:29 AM
Air_Asia AA many empty flights lately due to coronavirus why aviation industry still good?
18/02/2020 9:31 PM
enigmatic ¯\_(ツ)_/¯ I'll try to answer Philip's question, I think the short term is not looking good for SAM's two divisions. Specialised machinery is a double-edged sword, I suppose, as SAM can only manufacture a certain kind of products. The pros would be economies of scale in products, while the cons would be inability to diversify into potentially more profitable products in future? But I remember SAM's business having high barriers of entry, shouldn't its business be sustainable in the long run, despite the slight negative outlook of the industry?

The negative news from the A&B planemakers seems to pose a danger to SAM's business, but SAM's recent track record suggests it is quite resilient. I think SAM would continue to grow, albeit at a much slower pace, as I trust this Singaporean management team.

I'd like to hear your views, Philip. Your analysis of businesses is very intricate.
18/02/2020 11:03 PM
Philip ( Dr. Fauci my Hero) I concur. And I think this is excellent 2nd level thinking.

>>>>>>>>>>>


I think SAM would continue to grow, albeit at a much slower pace, as I trust this Singaporean management team.
18/02/2020 11:27 PM
Fabien "The Efficient Capital Allocater" What makes u think it will grow at MUCH (emphasis) slower pace.

The noise surrounding Boeing 747? or the coronavirus?
18/02/2020 11:45 PM
Philip ( Dr. Fauci my Hero) What does Corona virus have to do with the long term prospects of Sam? Similar to sars, I predict the virus is contained and will disappear by June,
18/02/2020 11:50 PM
Icon8888 To those who claimed SAM non aerospace business is mainly from HDD, you don’t know what you talking

But all these actually doesn’t matter, people can say whatever they want in this forum, at the end of the day, it is the PLC that matters. If SAM can deliver good result in the future its price goes up if not it will underperform

Just like Petronas chemical. People said how good how good, but the analysis later turned out to be wrong, and all pchem shareholders go Holland
19/02/2020 6:43 AM
Philip ( Dr. Fauci my Hero) Since you know what you are talking, where does it come from? Like some Jokers who buy lctitan at high price with one hand behind the wheel. Unlike some who don't even bother understanding a company and just buy first think later, I try to understand the business first. Buy the ctos reports, get the industry journals.

FABRICATION OF PRECISION TOOLS AND MACHINERY PARTS AND MANUFACTURE OF AIRCRAFT AND OTHER EQUIPMENT PARTS, SPARES, COMPONENTS AND PRECISION ENGINEERING PARTS

https://www.ctoscredit.com.my/business/SAM-PRECISION-%28M%29-SDN-BHD-0043230K

I try to understand what it is that Sam precision, Sam tooling, Sam technologies what exactly that they do. Last year when Sam was brought to my attention by another investor, I went to Penang to have a visit. Their main locations are in Penang and Thailand. Aerospace in Singapore and Penang. With their latest Bukit minyak facility.

Like some idiot reply,
"Sam Engineering derived a significant amount of profit from semiconductor equipment manufacturing. " Funnily enough she lump everything under semiconductor equipment manufacturing.

If you go through the breakdown of companies revenue and earnings ( I did) from the ctos reports ( only a few ringgit per report), you can see how the breakdown of earnings come from their subsidiaries.


https://klse.i3investor.com/blogs/icon8888/2019-10-21-story231104-_Icon_Sam_Engineering_An_Overlooked_Semicon_Play.jsp this is the article where someone lumped all earnings as semiconductor equipment manufacturing.

You have Sam precision, Sam tooling, Sam precision Thailand and meerkat.

You will quickly notice they are a die and jig manufacturer ( which coincides with their speciality in aerospace CNC and 5axis precision cutting).

Do you think they are a semiconductor OSAT maker on the scale of inari? No, they supply precision equipment to them.

They do tooling and jigs for globetronics in Penang (LED), they supply equipment and support to ASE electronics. They supply obviously to manufacturer of HDD and SSD ( Thailand). I mean come on, they are a member of the fmm in Penang. So many ways to scuttlebutt and get info on what exactly they do and what are the limits of their production capacity. Why lie and lump all under semiconductor equipment manufacturing?

But lumping everything into one and calling it semiconductor equipment manufacturing, that is brilliant.

As for Holland in Pchem, it remains to be seen. My timeline is different from yours. If you bought Sam at 8.5 and saw the price today you will say Holland. But those who bought PCHEM with a 3-5 year view and bought rm6 million of shares during discount day at 6.2? Come back to me next year when PIC is in full production, if the earnings and revenues drop then, then you can say whatever you want.

Until then, YOU do not know what you are talking.


>>>>>>>>

Posted by Icon8888 > Feb 19, 2020 6:43 AM | Report Abuse

To those who claimed SAM non aerospace business is mainly from HDD, you don’t know what you talking
19/02/2020 7:44 AM
Philip ( Dr. Fauci my Hero) Armchair analysts just talk nonsense from computers and buy with one hand behind the wheel and the other frantically pressing buy button on the phone.

Real investors go down to Penang to enjoy prawn mee and visit the factories to get a better understanding of the companies before deciding whether or not to buy and sell.

FYI, my remark was a sarcasm because someone lumped all earnings under semiconductor equipment.

>>>>>>>>>>>

Philip (Can I advise you?) I totally did not know they did semiconductor business. All this while when i visited their plant in penang I only thought they did fabrication of the hard disk drive pins and metal spring miniature steel fabs.

which part of semiconductors do they produce?
23/10/2019 7:27 PM
19/02/2020 7:49 AM
Quincy Philip, which of the following Ctos report do you purchase for purposes you mentioned?

Sample:
https://businessreport.ctoscredit.com.my/oneoffreport/single-report?comp=TONG-LEE-TRADING-SDN-BHD-1085713X&_ga=2.262054669.1426025393.1582073721-326479210.1582073721
19/02/2020 9:53 AM
RainT wah

queue some at RM7.45 today

at low
24/02/2020 11:41 AM
HoldingKing every quarter breaking new record in revenues n profits. today drop to 7.50. dividend almost 4%.
TIME to collect.
24/02/2020 12:37 PM
Icon8888 So Philips visited pengerang to check out pchem ?

How come still laosai ?

LOL
25/02/2020 7:00 PM
Nepo Aiyoyo also lausai here..
27/02/2020 9:05 PM
Icon8888 19 Sen EPS
28/02/2020 5:37 PM
HoldingKing Fuh nice profits.
28/02/2020 5:38 PM
Fabien "The Efficient Capital Allocater" 11th consecutive quarterly profit growth. impressive

19.34sen EPS, highest recorded over the last 3 years. 30% y-o-y growth

20x PE is not unreasonable
29/02/2020 9:47 AM
Rwkl Airlines, hotel etc companies top and bottom lines will be badly battered this quarter. Interesting to discover how Sam will perform
29/02/2020 10:35 AM
bukithot Slow down in revenue for Aerospace segment is expected for next quarter. Hope it is temporary as COVID-19 is hitting airlines industry really hard.
29/02/2020 3:57 PM
leekh5555 https://www.businessinsider.com/boeing-737-max-certification-flight-faa-2020-2
29/02/2020 4:22 PM
Icon8888 https://klse.i3investor.com/blogs/icon8888/2020-03-01-story-h1484655370-_Icon_Sam_Engineering_Excellent_Result_Share_Price_Can_Potentially_Doub.jsp
01/03/2020 1:01 PM
Nepo This time SAM can't immune from depression..
08/03/2020 9:08 PM
HoldingKing consider not bad dy. u look at other stocks dropping 10-30%
09/03/2020 12:34 PM
CK woww.....drop so much.....
Not good sign
12/03/2020 1:01 PM
Flintstones Another icon holland stock
12/03/2020 1:26 PM
enigmatic ¯\_(ツ)_/¯ Bear market now, almost all stock will fall. But the good companies' stock price will fall far less compared to sub-standard companies.
14/03/2020 2:04 PM
RainT so many ICON holland stock

haha
14/03/2020 6:05 PM
Nepo https://www.chinapress.com.my/?p=1942217
Beoing stop 737-Max 8 production.
Any impact to Sam?
Poor stock affected by coronavirus...
14/03/2020 10:11 PM
enigmatic ¯\_(ツ)_/¯ Nepo,
B737 Max is the suspended plane since last year, right? Annual Report 2019 , pg 23&24 mentioned about this.
14/03/2020 10:25 PM
Nepo SAM also affected by coronavirus..so pity
17/03/2020 6:28 AM
RainT too cheap to ignore
18/03/2020 7:14 PM
Up_down While the whole market is melting down, nothing can be done to against the trend as de-rating becomes a yardstick after comparing with other companies.
18/03/2020 7:20 PM
Up_down Normally, it’s triggered by margin call in SAM or other companies. Investors don’t buy SAM alone and pledge to IB....it’s more complex in pledging their shares. Some more , investors got plenty of reasons in selling their shares. In normal situation, we hardly see the share price exists a logical inter-relationship between them.
18/03/2020 7:40 PM
Up_down We don’t look for logic in investing for short and mid term in extreme situation like what’s happening now. It doesn’t mean that the non existence of logical inter-relationship. It could be merely mean that’s we haven’t discovered it yet. To make it simple, it just happened like that and nothing else...to avoid mind boggling and keep boggling without an answer.
18/03/2020 7:52 PM
Up_down In share market, we keep training our mind towards extreme manners either being logical or follow our emotions to make a decision. In an extreme situation (very bullish and very bearish), both may and may not work effectively in short and mid term. Therefore, cut-loss strategy is the best way to avoid falling into the trap.
18/03/2020 8:33 PM
Nepo Cut loss..
19/03/2020 11:36 AM
HoldingKing now only cut loss too late dy la. people starts to accumulate dy
19/03/2020 12:02 PM
RainT Bought 2nd batch
19/03/2020 6:59 PM
Kyou Wow..50% discount
23/03/2020 12:07 PM
ivanlau Boeing & airbus now need financial aid from government. Do u think sam products can sell ? think about that ....... TP 4.00
23/03/2020 12:09 PM
RainT of course now short term is bad

but think after 1 year ?
23/03/2020 7:39 PM
Fabien "The Efficient Capital Allocater" Boeing plans 737 MAX production restart by May

https://klse.i3investor.com/blogs/kianweiaritcles/2020-03-25-story-h1485638539-Boeing_plans_737_MAX_production_restart_by_May.jsp
25/03/2020 6:11 PM


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