I wanted to write blog in English, but somehow not get used to it 
and lazy to write ==
Consistency! Consistency! How important it is~~
Let's skip the nonsese
Tomypak one of the company that mentioned by MR lim before
However looks at this performance, kind of unstable, maybe Mr lim look at its future potential? Let's start analyse
Business
- Manufacturer and sale of flexible packaging materials
- Second largest flexible packaging company in Malaysia
- 多美包装没有负责包装袋的设计，一般都是顾客将设计的软件送过来，该公司会将设计图送到制板商那里打造印刷模板，经由客户确认后，才大量生产
- 目前公司共有7名营业员，一旦士乃的新工厂投产后，将增加营业员人手。
- 占25%食品包装市场
Managemet
- Executive Directors
Mr. Lim Hun Swee
Mr. Tan See Yin
Geography area
- Malaysia
- oversea (revenue contribution 52.26%)
- 新加坡、泰国、澳洲、菲律宾、南非、俄罗斯与巴西
Customer sector
- Food and beverages
- 联合利华、NESTLE（雀巢）、合成、妈咪大宝达、APOLLO（阿波罗食品) , Super,Aji
- 与雀巢合作逾30年
Competitors
-Tguan
-Bpplas
- Daiboci
Factory
- Total built-up area of this new plant will be approximately 265,000 sq feet. Upon completion of this building, the total built-up area of the TP Group, including our existing Tampoi plant, will be 415,000 sq feet.
- 多美包装位于淡杯工业区的工厂，拥有7条24小时操作的生产线
- 多美包装有2座工厂坐落在依斯干达特区
Financial performance
- Revenue decreased 0.75% qoq and 9.35% yoy
- Net profit increased 80.9% qoq and 5.38% yoy
- Revenue and net profit for FY 2016 full year lower than FY 2015
- Revenue decrease yoy was due to reduction of sales to oversea customers as well as local customer
- Profit margin also decreased to 8.7%
- Profit before tax margin for current quarter 14.73%
- PBT compared with last year corresponding quarter almost the same due to higher PBT margin for this current quarter. And it was due to lower raw material cost and better sales mix
- Comparison between Q4(left) and Q3(right) BS. I am still don't know how to interpret this Statement ><
- Look at the PPE, I can assume that Tomypak is increase its investment on it. Increase investment in equipment is a good thing as it may increase future productivity
- Cash compared with last quarter decreased a little
- After deduct debt from cash, Tomypak still owe RM3225
- The overall BS consider acceptable
- Accoding to 4Q quarter report, Tomypak main revenue contribution is come from oversea, 52.26%
- According to annual report 2015,major customer will contribute 10% of Group's total revenue (Singapore customer)
Share price
- Tomypak currently short term uptrend, trading at RM1.94
- Support level RM1.585 (22.39%)
- Support level 2: RM1.683 (15.27%)
- Support level 3: RM1.72
- Resistance level: RM1.985
- Resistance level 2:RM2.07
Factors that will affect Tomypak
- Foreign exchange currency (weaken RM will increase imported cost, but it may offset by export demand)
- 国际原油价格下降，造成成本便宜，不过美元上升又中和了价钱
- Labor cost
- Energy cost
Company prospects
- impending completion of the new plant in Senai
- ready to commence commercial operations in the first quarter of 2017
News
1/7/2016
- 多美包装附加股超购29.39%, 筹集5470万令吉的资金，建造新工厂、购置新机件及扩大营运资本。
23/9/2016
- Polyseed 與國內20多家塑料包裝廠商合作，包括上市公司如多美控股（TOMYPAK，7285）和馬包裝工業（MAYPAK，8095）等，生產售價與傳統塑料袋相等的可分解塑料袋。
- Polyseed在2016財政年的營收為600萬令吉，未來1年計劃進軍澳洲（醫療用途塑料袋）和新加坡市場，並致力推廣其他產品如塑料瓶子和食物包裝盒。本次透過眾籌獲得的資金，除了向合作廠家購買20%的產能，也會投入研發工作
- 傳統塑料袋對環境的危害極大，需要10-20年來分解，而可分解塑料袋只需10周的時間。
25/7/2016
- 据悉，明年将会有好几家来自新加坡的食品工业搬到振林山一带设厂，而来自越南的著名品牌咖啡，也在新山一带购置空地，他们在好几年前也主动联系过多美包装寻求合作。
Target price
- RM2.36 (HL IB research)
Information about Polyseed
- Successfully funded RM400,000
- The fund will be used for the purchase of the 20% production capacity from manufacturers
是指买下Tomypak整个生产线的20%，专门为Polyseed生产产品？
Comments
After reading blogger's research, previously Tomypak's management team performed badly and they changed the whole management team during 2014
As you can see its performed better during 2015.
It shows the commitment of management team.
How important management team is!!!
And I think Polyseed is not seeking for packaging, however quality of plastic. Screenshot from Tomypak's homapage
Reference:
http://www.klsescreener.com/v2/news/view/90563
http://www.klsescreener.com/v2/news/view/92183
http://www.klsescreener.com/v2/news/view/130653
http://bblifediary.blogspot.my/2015/09/tomypak.html
http://easywong.blogspot.my/2015/06/agm2015-tomypak.html
http://www.enanyang.my/news/20160725/%E3%80%90%E7%8B%AC%E5%AE%B6%E3%80%91%E4%B8%9A%E7%95%8C%E5%A4%A7%E8%85%95-%E5%A4%A7%E5%AE%A2%E5%A6%82%E4%BA%91br-%E5%A4%9A%E7%BE%8E%E5%8C%85%E8%A3%85%E4%B8%93%E5%88%B6%E9%A3%9F%E5%93%81/
https://www.crowdplus.asia/CapitalProfile.php?cid=120
https://www.crowdplus.asia/CapitalProfile.php?cid=120
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