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Stocks With Momentum: Can-one
by Cals Tue 03 Mar 2015, 00:23
Stocks With Momentum: Can-one
By theedgemarkets.com / theedgemarkets.com | March 2, 2015 : 11:03 AM MYT
[size=14]CAN-ONE Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) (+ve)
CAN-ONE (Fundamental: 0.8/3; Valuation: 1.2/3) manufactures tin cans, jerry cans, and dairy products. The company’s most valuable asset is its 32.9% stake in Kian Joo Can Factory Bhd (Kian Joo), which has a market capitalisation of RM1,323.6 million.
In 2013, Can-One proposed to sell its stake in Kian Joo to Aspire Insight — controlled by EPF and Kian Joo’s Chief Operating Officer Chee Khay Leong — for RM1.47 billion. The sale has, however, been stalled by legal suits, and is now pending a hearing in the Court of Appeal in April.
Can-One released its results for 2014 on Thursday. Revenue increased by 16.3% y-y to RM898.9 million but net profit dropped 8.5% y-y to RM63.8 million due, mainly, to higher production costs and excess capacity. Gearing was relatively high at 80.7%.
A first and final dividend of 5 sen per share was proposed, translating into a yield of 2.1%.
[You must be registered and logged in to see this image.]
This article first appeared in The Edge Financial Daily, on March 2, 2015.
[/size]
By theedgemarkets.com / theedgemarkets.com | March 2, 2015 : 11:03 AM MYT
[size=14]CAN-ONE Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) (+ve)
CAN-ONE (Fundamental: 0.8/3; Valuation: 1.2/3) manufactures tin cans, jerry cans, and dairy products. The company’s most valuable asset is its 32.9% stake in Kian Joo Can Factory Bhd (Kian Joo), which has a market capitalisation of RM1,323.6 million.
In 2013, Can-One proposed to sell its stake in Kian Joo to Aspire Insight — controlled by EPF and Kian Joo’s Chief Operating Officer Chee Khay Leong — for RM1.47 billion. The sale has, however, been stalled by legal suits, and is now pending a hearing in the Court of Appeal in April.
Can-One released its results for 2014 on Thursday. Revenue increased by 16.3% y-y to RM898.9 million but net profit dropped 8.5% y-y to RM63.8 million due, mainly, to higher production costs and excess capacity. Gearing was relatively high at 80.7%.
A first and final dividend of 5 sen per share was proposed, translating into a yield of 2.1%.
[You must be registered and logged in to see this image.]
This article first appeared in The Edge Financial Daily, on March 2, 2015.
[/size]
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