2016/02/19

19022015 卖出LPI 再加码Hup Seng



昨天Hup Seng交出业绩上涨的数字,还有2cents股息,一度刺激股价上涨。

今天Hup Seng股价转眼就见红,于是乎,就决定把那个100股贪爽买回来的LPI给放走,转把资金用来再加码Hup Seng,等收股息。

希望Hup Seng饼干销量继续好卖,而如果你想要吃饼干,记得支持Hup Seng Ping Pong较较饼^^

除了卖出LPI, 也同时再减持IGBreit, Sunreit.




最近几家基金都大量买入IGBreit, Sunreit,也不懂是不是他们买太多,从而把股价给越买就越高。

竟然大基金一直在收票,我就等价逐步套利。



风险提醒

只要公司有能力创造每股盈利持续上涨,逢低加码就是对的做法。

只要公司突然失去再创造每股盈利上涨的能力,逢低加码就等于住在不懂何时能解套的高级套房中。


本部落格一切言论和资料纯粹是我本人个人的参考记录, 绝无任何买卖建议. 任何人因看此部落格的文章而造成任何投资损失, 恕不负责

 
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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。

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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;

13 条评论:

  1. HupSeng gearing ratio is higher at 0.48 now from 0.46 previously. It is borrowing loan to pay you the dividends which is also unhealthy. That's why share price down today. It might down further.

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  2. Hi Beza, although the gearing ratio has increased, Hup Seng is still a net cash company. Its cash is enough to cover all the liabilities whether current or non-current.

    Where do you derive the information that it is borrowing loan to pay dividend? I do not find that in the latest quarterly report.

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    1. Dear Wei Loon, pls refer to Item 7 Capital management, debt and equity securities of
      http://www.bursamalaysia.com/market/listed-companies/company-announcements/5002281
      Gearing ratio 48% 46%
      The increase in the gearing ratio is mainly due to the increase in total liabilities mainly arising
      from dividends and others payable.

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    2. The Company is at high risk now. Look like want to push up its share price due to some reasons.

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    3. Hi Beza, thanks for the information. I do not share the same view that the company is at high risk. The liabilities are just trade payable, income tax payable and dividend payable.

      The company is not borrowing any loan, so there is no interest payable and worse case scenario, they can still cover all the liabilities with the cash on hand (RM119 mil).

      The cash flow generated from Operation (RM57.8 mil) minus the capex (RM2.8 mil) = Free cash flow (RM55 mil). The free cash flow generated alone is sufficient to cover the trade payable and income tax payable, if we assume the company is not giving dividend.

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    4. Wei Loon

      给你100个likes ^^

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    5. Wei Loon, You can't assume the company is not giving dividend as this is not a fact. You should know Some Companies can have free cash flow recorded in the account only but actually do not have it so much. Only they know well. However, gearing ratio increment of 2% is a fact (and the actual increment we do not know).

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    6. There are many trees in the forest. Why must we burn the whole forest just for one tree?

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    7. http://www.thestar.com.my/business/business-news/2015/12/05/charting-hup-sengs-growth/


      As at Sept 30, 2015, the company’s cash and cash equivalents totalled RM112.5mil, up from RM82.6mil as at end-September last year.

      “We are asked very often why we keep so much cash, and not invest it... the thing is, we are very careful in investing, as we’ve had bad experience before,” Kerk says, noting that Hup Seng’s past investments in expensive machineries took too long to break even and see returns.

      “That is not the way we would like to work, and that’s certainly not the way that could translate into a healthy profit margin for the company,” she explains.

      Having learnt some tough lessons about three decades ago, when Hup Seng almost went bankrupt, Kerk says, it is the policy of the company now to staying clear of investing on borrowed money.

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    8. Hi Beza, I am making the assumption just to point out that the company has enough liquidity to cover all its debt. Not because I want to paint a picture that the gearing ratio is not high.

      Yes, the gearing ratio has increased as shown in report. But it is not worrying in my opinion. Unless the liabilities are made of borrowing from bank or interest bearing loan, then it is more risky. So the company is not at high risk, nowhere near in my book.

      You made a good point that some companies do not put the actual figures in their report. And some downright dishonest company even employ "creative" accounting to make their report looks great. There is no way we can know for sure. But what we can find out are company past performance, management quality, dividend records and etc. Most important I think is to do perform valuation, buy only with margin of safety and diversify.

      Since you mention fact, the company is not borrowing loan to pay dividend. I believe the share price is driven up maybe due to good result and announcement of 2 cents dividend.

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    9. I am just saying those for the sake of discussion. This is not a recommendation to buy or sell the stock.

      Ya, you are right. There is no point to give up whole forest just for a tree. That's why when come to investment, it's best to diversify. "Unless you are Warren Buffett, then diversify does not make any sense".

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  3. LPI and HupSeng, both are good company...

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    1. money limited, have to choose focus on either one good company^^

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