2015/11/10

2013年IPO申请Karex 资本增长374%

Karex Annual Report 2015              


Basic earning per share

2014 7.85sen
2015 9.51sen
----
+ 21.146%


Chairman's Statement             


Karex delivered another set of record performance for FYE 2015, registering revenue of RM298.1 million and a profi t after tax of RM59.7 million. This represents a modest revenue growth of 4.5% while profi t after tax grew a commendable 32.2% over the preceding year. The prevailing low latex price, the strengthening of US Dollar against Ringgit Malaysia and sale of higher margin products continue to increase our profi t margins for FYE 2015


In terms of operations, we are completing our capacity expansion to 5.0 billion pieces from 4.0 billion pieces previously. The additional capacity was installed at our new green building plant in Hatyai, Thailand. We expect the full commission of the dipping production lines very soon.

Our company continues to grow a healthy cash and cash equivalent of RM207.7 million, from RM85.6 million the year before. This was mainly attributed to the private placement exercise as well as growing net operating cash fl ow of the Group. Gearing ratio improved signifi cantly from 0.10x in FYE 2014 to 0.05x for FYE 2015. As with the previous reporting period, Karex is in a net cash position as at 30 June 2015.


During FYE 2015, we have completed a couple of corporate exercises. I have mentioned earlier a private placement exercise, which was completed in March 2015, that raised RM158.0 million for the Group’s expansion and acquisition plans. Also completed in April 2015 was a bonus issue exercise to reward shareholders on a 1:2 basis. A total of 40,500,000 shares were issued pursuant to the private placement exercise and another 222,750,000 shares issued for the bonus issue. The total enlarged shares issued as at 30 June 2015 are 668,250,000 shares.

We have announced on 12 August 2015 the acquisition of Medical-Latex (DUA) Sdn Bhd (“MLD”) for a purchase price of RM13.0 million. MLD is an established condom manufacturer with over 28 years track record in Johor Bahru. The company is accredited and licensed by several accreditation and international standard agencies globally. Simultaneously with the acquisition, we have also announced that MLD will enter into a long term supply with the vendor of MLD, Beiersdorf AG (“Beiersdorf”) to supply condoms to Beiersdorf under their “DUO” and “Harmony” brands. Beiersdorf has agreed to grant Karex the first right of refusal to purchase the said brands should Beiersdorf wish to sell in the future. We have now completed the acquisition on 13 October 2015.



* 税后盈利增加32.2%来自橡胶价格下跌, 美元升值, 毛利增加。


* 产量从40亿增至50亿

* 持有现金从85.6 million增至207million ( private placement筹集的资金,用在收购)

* gearing ratio降低至0.5 

* 续之前收购一家叫GP外国保险套公司,今年10月13日再完成收购一家叫Medical-Latex公司


去年,出席股东大会时老板说过,保险套需求订单肯定有的。而且,保险套订单还包括外国政府。

保险套除了避孕,另一个作用就是预防艾滋病。



The global condom market for 2015 has been estimated at 27 billion pieces. With the continued threat of HIV / AIDS showing no signs of abating, and the ever growing world population, industry experts are confi dent that their earlier estimation of 9% compounded annual growth rate (CAGR) could be surpassed in the next few years.

According to UNAIDS, in 2014 another 2 million people globally are newly infected with HIV and 1.2 million people died from AIDS-related illnesses. Moreover sexually transmitted infections (STI) are posing a growing health threat to today’s population globally, further driving the growth of condom usage. Over 1 million people globally are infected with STI every day.

Governments around the world continue to be the major buyers of condoms, which is the most effective method of contraceptives. Unwanted pregnancies continue to affect millions of lives annually, and if women around the world could have access to a simple and modern contraception such as condoms, hundreds of thousands of women’s lives could be saved every year.

The use of condoms globally is still relatively low. Social activists including NGOs attribute them to the lack of innovation and negative perception condoms carry. In fact, the Bill and Melinda Gates foundation put out a call for a better “next generation” condom, one that will ‘significantly preserve or enhance pleasure’ for men – all in the name of public health, of course.

As government spending on condoms remained strong, we see changes in their purchasing trend to include more ‘fun’ products (such as colours, fl avours and texture) than the usual plain standard products. The change is to entice and encourage the younger generation to use condoms. We expect this trend to continue as more governmental agencies and industry players are mounting their campaigns to increase uptake in condom usage amongst the new generation.



业绩数字会说话?      

最近为什么Karex股价那么神勇??爱人一个番,我就半个番。。。



记得,当我在讲座听过官有缘老先生提及他的投资法,就是投资在今年,明年盈利必升的公司。只要公司盈利上涨,股价就会跟着来。

回来后,我就一直记住这句话,为此,我学着物色高成长公司。

Teo Seng, Tune Pro, Spritzer, Karex, Suncon.

后期,就集中追加SunCon和Karex。

要成为有钱人,就要听有钱人的话。

就像我们阅读了前辈的文章, 觉得好,就要学以致用,还要马上用,不要看看而已。

讲真的,Karex的高 PE,其实,我也是加码加到不知道自己是对,还是错。。。

所以,严厉警告,不要追高,不要追高~~~



2013年IPO申请Karex 资本增长374%                                       




i3investor 看到以下的讨论。


在2013年当Karex IPO时,申请到Karex股份不卖,一直持有到现在, 所得到的资本增值为272%。

真的吗?

我们也一起算算看~ :)

Karex IPO 价格RM1.85 (sources)


2014年2送1红股,在IPO申请1000股,在红股效应下变成1500股。

2015 年2送1红股,1500股可以获得750股,合计2250股。

在2015年11月x日,Karex 股价 RM3.90。

RM3.90 x 2250 = RM8775 。

当初的资本 RM1850

RM8775 - RM1850  = 374%
     RM1850


我的数学不是很好,有算错请纠正。:)

恭喜在Karex IPO 时,有慧眼相中Karex并且成功申请到的朋友:)

一个股友说,当Karex 上市后,股价开了一番后,他丢了票。后来股价下跌,他又去买回来。

他的这么一个做法,应该得到更高回报率。

真的,真的,Karex 盈利上涨率开一番(对比IPO时),股价上涨却远超过100%,所以,不追高,绝不追高

在高通货膨胀下,歪歪股票组合有幸在早前纳入这么一家"超级"公司,真的是太感谢博客们早前的分享:)

十面埋伏 Karex 套套平安

雨文  与康乐公司【KAREX】有约


理财投资的幸福                

理财投资是一件很幸福的事,或许,刚开始没有钱的时候,我们会走得很孤单,内心也特别煎熬。

然而,当看着自己能够从存不到钱,到成功留住钱。甚至在学会投资的钱赚钱,体会第一次收股息,并看着一年比一年的股息收入在增加。

就是当打工的你遇到老板说:“今年公司赚不到钱,没有花红,没有加薪。”

听了后,你感觉很down。然而,另一边早前累积到的好上市公司股份,却会定期派股息,甚至派红股,却又让你马上充满正能量。

那一种感觉,就像把手上原有的烂牌给打成一副好牌,自己创造了奇迹。

这一切都不是靠命理让自己的命转好,而是靠“理财投资”的智慧把命变好。:)



理财投资是急需为自己马上开始做的事,岁月不留人,通货膨胀更不会慢慢涨!


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电子书里头有分享着我的一步一脚印的经验。

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《歪歪理财记事本精选文章》没有教导快速致富,没有如何提升赚钱能力的内容,好让你有更多钱花的方法。

书里只有一些生活化的理财故事,用以加强理财投资的自律。

生活化的故事教导我们,今天不看清楚现实状况,继续像一只驼鸟一样,遇到问题只懂把头埋在洞里,以为这样敌人就看不到自己。

那么,我们也只是选择把问题抛给年级大的自己去面对而已。

你认为现在的自己更有气力和时间去面对和解决问题,还是年老时的自己更有气力和时间去面对和解决问题?

歪歪理财记事本精选文章里的故事人物,都不是小说里的虚构人物,他们可以是你我他或身边的其中一个他的写照。

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也许你也有兴趣阅读以下文章;


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