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random
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Posting #11: Tue May 27th, 2008 08:30 |
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stockraider1 wrote:
Cymao positive cashflow;
mar 2008 Dec 2007 Dec 2006
Rm 000
Cash in hand 10170 8930 11406
L.T Borrowing (4525) (4856) (8979)
ST Borrowing (1802) (3836) (18233)
Net Cash 3843 238 (15806)
Net cash Inc 3605 16044
CashGen/share Rm 0.05 Rm 0.21
Positive cashflow !!!!
In order to assess financial strength based on order of priority
1st choice- Cash Generation ability
2nd choice- Balance Sheet Strength
3rd choice- P&L Performance
Analsyt way of analysing P&L alone do not give an accurate picture !!
Dear Stockraider1,
From your numbers, the cash/share is dwindling.. surely this is a worrying sign..!
Last edited on Tue May 27th, 2008 08:31 by random
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Moolah
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Posting #12: Tue May 27th, 2008 08:38 |
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From your numbers, the cash/share is dwindling.. surely this is a worrying sign..!
Random,
It does not matter cash flow or p/l... one needs to understand why and what is happening!
Cymao cash flow is increasing cos they did a good job collecting their old debts. But that's it. Now the total owed to them is just over 3 million...
how?
Next quarter... if profitability does not improve... how then?
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random
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Posting #13: Tue May 27th, 2008 09:06 |
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But seriously if I was reeeallly interested in investing in the timber sector I would have gone for the big players ala Ta Ann wat..
Why bother with small frys like Cymao? Regardless of the single digit PE positive cashflow high NTA yadda yadda
Since it's timber is underappreciated now the big players should be selling for a pinch
no meh?
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Moolah
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Posting #14: Tue May 27th, 2008 09:12 |
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random wrote: But seriously if I was reeeallly interested in investing in the timber sector I would have gone for the big players ala Ta Ann wat..
Why bother with small frys like Cymao? Regardless of the single digit PE positive cashflow high NTA yadda yadda
Since it's timber is underappreciated now the big players should be selling for a pinch
no meh?
Good point... and if you look at the first page... u wud see Ta Ann timber related PBT is only at 4.9 million....
makes u wonder about the sector...
yeah... and the amazing thing is... since timber earnings is so piss poor... them fan boy analaysis had quickly jumped on the possible turnaround thingeee... which ... actually is not impossible... yeah... timber sector could bottom and cud see some slight improvement in earnings for the next quarter but.... me think this is about it.
a boom in this timber sector?? kinda hard to imagine rite now at this moment of time - given the current market variables.
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random
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Posting #15: Tue May 27th, 2008 09:18 |
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Yeah Im not optimistic on the sector too.. but if I really really wanna go the contrarion route.. Ta ann is the best bet wat.. and I do mean bet..
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Moolah
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Posting #16: Tue May 27th, 2008 10:28 |
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Tekala... no tak...
Feb....
Tekala Corp. Bhd (6378.KU) - Malaysia
3rd quarter ended Dec. 31:
Figures are in Ringgit (MYR).
2007 2006
Revenue 29,833,000 42,697,000
Pretax Profit (3,323,000) 11,942,000
Net Profit (2,630,000) 8,624,000
Earnings Per Share (1.75 Sen) 5.76 Sen
Dividend Omitted Omitted
9 months ended Dec. 31:
Revenue 91,709,000 115,348,000
Pretax Profit 3,499,000 20,755,000
Net Profit 2,301,000 14,304,000
Earnings Per Share 1.54 Sen 9.53 Sen
Dividend Omitted 2.00 Sen |
today...
Tekala Corp. Bhd (6378.KU) - Malaysia
4th quarter ended Mar. 31:
Figures are in Ringgit (MYR).
2008 2007
Revenue 23,008,000 45,843,000
Pretax Profit (1,956,000) 12,019,000
Net Profit (1,162,000) 8,790,000
Earnings Per Share (0.78 Sen) 5.88 Sen
Dividend 4.00 Sen 4.00 Sen
12 months ended Mar. 31:
Revenue 114,717,000 161,191,000
Pretax Profit 1,543,000 32,774,000
Net Profit 1,139,000 23,094,000
Earnings Per Share 0.76 Sen 15.40 Sen
Dividend 4.00 Sen 6.00 Sen |
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stockraider1
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Posting #17: Tue May 27th, 2008 16:12 |
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In times of uncertainty, cash is the king ! Converting to cash indicate there are true certainty of value for cymao !
The ability of Cymao to convert receivable to cash, is this not indicate, this is a fantastic preposition ?.I applaud this extraordinary ability !
Do u want companies that carry a huge receivable position ?
Now go back to the receivable position of Rm 3.3m against turnover of est Rm 128m,this give a collection day of only 10 days which is as good as most transaction done in cash !
Going forward Cymao can still can convert the inventory of Rm 54m ( equivalent to Rm 0.72 per share) to cash as well, thats is another cash spinning avenue !
By the way CYMAO depreciation based asset of Rm 74m ( equivalent to Rm 1.00 per share) alone generate cash of around Rm 2.8m or Rm 0.037 per qtr.On annualised basis will result in positive cashflow of Rm 0.15 p.a.
Thats is the reason i say CYMAO at Rm 0.70 is in a unique position ,not recognised by most analyst who rely on profits as a sole assessment !
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Moolah
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Posting #18: Wed May 28th, 2008 02:16 |
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LOL! Nice to see that you admit that the increase in cash flow is due to the decrease in trade receivables. (you do realise that I had said Bravo to Cymao on this issue)
Counting of depreciation of assets? Of course Depreciation and Amortisation is like an invisble monster eating up a portion of a company's cash and this is why the cash flow statement is important.
here is the top part of Cymao Cash flow this quarter..
Depreciation 'added' back 2.792 million to the piggy bank.
Trade receivables boosted the cash flow by 6.073 million. (let me say Bravo again!)
Now let's look at the bottom half of the cash flow...
Company paid back some 2.842 in loans (bravo again) (company still has some 6 million + in loans left)
And the total cash flow increased by 1.212 for the quarter.
Now if one minus out that 6.073 million in debts collected, would cash flow still be positive?
Oh... yes... inventory could always be converted to cash but isn't this the main objective of any company? Convert the inventory to cash into profits?
In the futre, would CYMAO cash flow still be positive?
Well... LOL... it better start converting more inventory into cash. 
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Moolah
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Posting #19: Wed May 28th, 2008 02:21 |
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random wrote: Yeah Im not optimistic on the sector too.. but if I really really wanna go the contrarion route.. Ta ann is the best bet wat.. and I do mean bet..
What's incredible for me is the articles from Credit Suisse going ga-ga over this sector, esp on Ta Ann early this year.
See posting http://whereiszemoola.blogspot.com/2008/03/credit-suisse-goes-bull-on-ta-ann.html
ahem...
The fresh target price for Ta Ann is RM9.20 a share, more than a third of the stock's last trading price.
According to Credit Suisse, Ta Ann's share price, historically has a 74 per cent correlation with plywood prices.
It noted that in the last cycle, plywood prices bottomed in December 2005 and its share price surged by up to 51 per cent when plywood prices rose in 2006.
And what's interesting was Ta Ann then was only 6.65!!!!!!!!!!!
Ta Ann today is 7.50!!!!!!!!!!!!!
Thanks to CS Bull nonsense, eh?
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Moolah
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Posting #20: Wed May 28th, 2008 02:32 |
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ps.... Random... looks like u cannot be a contrarian on a stock like Ta Ann mah... stock on UPTREND woh... contrarian means u buy down issit?
ps. Moral of Credit Suisse story is..... tell a story... and give it a whopping TP price...
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