小资女向前冲（大马股市）

 Quarter report released date:24 Feb 2017

Business

- Disposable fibre-based products segment, has a higher profit margin than processed paper products segment

- 16% of revenue come from oversea

Products

Financial performance

- Malaysia increas 16%; Oversea increased 10.03%

- Short term borrowing: RM72mn

- Long term borrowing: RM12mn

- Cash and bank balance: RM64mn

- Inventories: RM49mn

- Revenue for current quarter higher than preceeding year corresponding quarter was due to higher sales achieved in the processed paper products segment

- 大部分原料是进口。其中可分解纤维是石油的衍生产品，之前的原油价格危机，拉低了部分原料成本

Share price

- latest share price: RM0.945

- 52w: RM0.67-RM1.03

- Assume next quarter revenue drop to same as Q12016, EPS is 1.53

- Sum up EPS is 0.112

- Given PE:10:RM1.12 (18.5%)

News

09 Jun 2016

- 目前工厂使用率只有50%

- 有意把产品出口至越南，菲律宾，印尼

08 Jun 2016

- 预计在2017和2018年提高工厂使用率

-  大部分原料是进口。其中可分解纤维是石油的衍生产品，之前的原油价格危机，拉低了部分原料成本

Factors that will affect Wangzng

- Benefit from strengthen USD dollar,export sales of the disposable fibre-based products

- Selling price and demand of processed paper product

Risk

- 业绩有时候会高是因为interest income/other income, 扣除后，Wangzng的PE会很高。加上他是小型股，不值得这个价钱

- Trading Volume 少，liquidity 少

- 52 week high: RM1.03

Referene:

http://www.sinchew.com.my/node/1535838/%E7%9E%84%E5%87%86%E4%B8%9C%E7%9B%9F%E5%B8%82%E5%9C%BA%EF%BC%8E%E7%9A%87%E5%9F%8E%E6%89%A9%E5%A4%A7%E6%B5%B7%E5%A4%96%E8%90%A5%E6%94%B6

http://www.orientaldaily.com.my/business/cj200017205