【SUPERMX 7106 交流专区】速伯玛

Mr.Business

原帖由 khliew7 于 21-11-2007 07:08 PM 发表
SUPERMAX最新一季的EPS达到RM0.0653

http://announcements.bursamalaysia.com/EDMS/edmsweb.nsf/LsvAllByID/48256E5D00102DF3482573990016C482?OpenDocument

比较30/09/2006的季度，profit增加可是EPS减少。。。为何开心呢？

khliew7

原帖由 Mr.Business 于 22-11-2007 09:35 AM 发表


比较30/09/2006的季度，profit增加可是EPS减少。。。为何开心呢？

2006年的股票总数为112，276，000；而2007年的股票总数为233，319，000。
SUPERMAX已经从1股变2股了，所以EPS的成绩是进步了。

Mr.Business

哦，原来如此。。。

mjchua

原帖由 Mr.Business 于 22-11-2007 09:28 AM 发表
APLI的重组计划：

缩阳：
1. 股本从RM347,611,928 comprising 347,611,928 ordinary shares of RM1.00变成RM24,332,835 comprising 347,611,928 ordinary shares of RM0.07。

2. 每100股 (par value RM0 ...

若下到 RM0.100 我買

Mr.Business

70变1?

亚太工业重组70变1

2007/11/22 10:07:42
●南洋商报

（吉隆坡21日讯）亚太工业（APLI，5479，主板工业产品股）今日建议进行包括70变1的一系列企业重组建议。

亚太工业发表文告表示，在这一系列重组建议，包括削资、整合以及附加股计划，以改善该公司的财务状况。

文告表示，在上述计划中，该公司建议将每股面值1.00令吉削资93仙，至每股面值7仙。

削资后，每100股面值7仙普通股，整合成70股面值10仙普通股。

完成削资及整合后，该公司建议1配3比例发售附加股，每股发售价13.5仙。

该公司也建议在完成重组计划之 后，将公司易名为Maxter国际。

自亚太工业于本月初宣布进入PN17陷困公司行列之后，该公司股价便跌跌不休，从上个月的最高水平40仙，下跌至目前的20仙以上水平。

闭市时，该股报23仙，微跌0.5仙，成交量为328万4千800股。

http://www.nanyang.com/index.php?ch=7&pg=12&ac=789972

mjchua

原帖由 Mr.Business 于 22-11-2007 11:59 AM 发表
70变1?

亚太工业重组70变1

2007/11/22 10:07:42
●南洋商报

（吉隆坡21日讯）亚太工业（APLI，5479，主板工业产品股）今日建议进行包括70变1的一系列企业重组建议。

亚太工业发表文告表示，在这一 ...

報紙常常搞錯... 上次 Megan 也是一樣.

Mr.Business

原帖由 mjchua 于 22-11-2007 11:51 AM 发表
若下到 RM0.100 我買

附加股的价钱是RM0.135，既然是每100股缩阳为70股，那现在市价跌过RM0.19［(RM0.19／100)*70=RM0.133], 现在买进会比买附加股有吸引力。

APLI

(5479)  11:50:06

Last Done	0.180
Change	-0.050
Day High	0.200
Day Low	0.170
Best Buy	0.175
Best Sell	0.180
Volume(Lot)	130002

Mr.Business

不知道谁会是underwriter。RHB Investment Bank？

Supermax需要拿出RM12.7575 million买下94.5 million的附加股。


2.2.6        Irrevocable Undertaking from Shareholders

There will be no minimum subscription for the Proposed Rights Issue. The Company shall procure the undertaking from the major shareholders, namely Supermax Corporation Berhad and Dato’ Seri Thai Kim Sim, to subscribe for their entitlement to the Rights Shares in due course.

Arrangements will be made for the underwriting of the remaining Rights Shares not taken up by the other entitled shareholders.

[ 本帖最后由 Mr.Business 于 22-11-2007 12:20 PM 编辑 ]

Mr.Business

看了Supermax的30/09/2007季度报告，Supermax的Equity是RM375 million, debt是RM359 million, 所以DE是0.96，很高的DE。手上的现金有RM60.5 million。

Supermax还有一个季度来改善她的负债。如果在FY2007结束时，RAM还是不满意Supermax的表现，RAM可能会降低Supermax的债券评级。

RAM对Supermax的要求：
1. Supermax’s net gearing at 0.55 times;
2. Supermax’s operating cashflow debt coverage (“OCFDC”) revert to the earlier projected level of around 0.2 times.

原帖由 Mr.Business 于 4-11-2007 12:45 AM 发表
请看看RAM Ratings所带出来的讯息。。。
1. Supermax不能再增加债务了以继续扩张。
2. Supermax手上的现金是要支持债务的，所以是不能动的。


RAM Ratings reaffirms Supermax’s bonds; outlook revised from stable to negative

20 July 2007

RAM Ratings has reaffirmed the A2 rating of Supermax Corporation Berhad’s (“Supermax” or “the Group”) RM120 million Fixed-Rate Serial Bonds (“the Bonds”). However, the outlook on the rating has been revised from stable to negative, premised on RAM Ratings’ concerns about Supermax’s rising debt level and thin operating cashflow in thelast 2 years. As at end-FYE 31 December 2006 (“FY Dec 2006”), Supermax’s debt load of RM215.44 million had already exceeded our expected maximum of RM150 million during the initial rating exercise. The heavier debt burden had been largely due to the Group’s continuous capital expansion and heftier-than-expected working-capital requirements due to more costly latex and slow collections from its overseas trading arms. More importantly, the increased debt burden has not been matched by a commensurate growth in the Group’s net operating cashflow.

By end-FY Dec 2007, Supermax’s debt level is expected to elevate to RM265 million, as the Group intends to borrow further to partially fund its ongoing expansion. Nonetheless,the management has intimated that the additional debt will be supportedby an anticipated increase in Supermax’s cash reserves to beyond RM100 million by end-FY Dec 2007; the Group expects better collection efforts vis-à-vis its associates (as demonstrated by its healthier financials in 1Q FY Dec 2007). Therefore, while the additional debt is expected to push the Group’s gearing ratio up to 0.92 times, the management has represented that Supermax’s net gearing ratio will remain relatively manageable at around 0.55 times as at end-FY Dec2007, bolstered by the envisaged increase in its cash reserves. Given the expectation of a stronger operating cashflow in FY Dec 2007, the management is also optimistic that Supermax’s operating cashflow debtcoverage (“OCFDC”) will revert to the earlier projected level of around 0.2 times, compared to a mere 0.04 times as at end-FY Dec 2006.

RAM Ratings has consistently highlighted that Supermax has little flexibility to continue relying on debt to finance its expansion programme, without affecting its credit rating. Given that its overall debt load has continued to exceed our expectations, we highlight that it is imperative for Supermax to demonstrate a substantially better operating cashflow in FY Dec 2007 to avoid even more deterioration in its credit-protection measures. Should Supermax’s net gearing and OCFDC ratios still fall short of RAM Ratings’expectations by end-FY Dec 2007, there will be downward pressure on its credit rating. Conversely, the rating outlook may be revised to stable if Supermax is able to demonstrate significant and sustained improvement in its financial performance over the next 1-2 fiscal years.

On a separate note, Tillotson Corporation (“Tillotson”), which haspatented its nitrile gloves, filed a complaint on 30 May 2007 against30 rubber-glove manufacturers from the US, Malaysia (includingSupermax), Indonesia and China over alleged infringement of its patent.Tillotson is also demanding a royalty fee of USD2.00 per carton of 1,000 nitrile gloves. According to the management, Tillotson’s actionswill have minimal impact on Supermax as the Group’s distribution arm inthe US will factor the requested royalty fee into its selling prices.Following this, Supermax expects to have to pay around RM1 million of royalties in FY Dec 2008; the management is confident that this will eventually be passed on to its customers. Meanwhile, for Supermax’s associate, Seal Polymer Industries Berhad (“Seal Polymer”) has some of its major customers agreeing to bear the royalty fee. This would also alleviate some of Seal Polymer’s burden of having to bear theadditional cost.

[ 本帖最后由 Mr.Business 于 22-11-2007 12:37 PM 编辑 ]

wongxiong

爬完贴,让我获益不浅..
想问下大大,现在是买进APLI的是候吗?

Mr.Business

Supermax今天趁低买进3,295,000股APLI。

Company Name	:	APL INDUSTRIES BERHAD
Stock Name	:	APLI
Date Announced	:	22/11/2007

Particulars of substantial Securities Holder

Name	:	Supermax Corporation Berhad
Address	:	Level 14, Uptown 1, No. 1, Jalan SS21/58, Damansara Uptown, 47400 Petaling Jaya, Selangor Darul Ehsan
NRIC/Passport No/Company No.	:	420405 P
Nationality/Country of incorporation	:	Malaysia
Descriptions(Class & nominal value)	:	Ordinary Shares of RM1.00 each
Name & address of registered holder

Supermax Corporation Berhad
Level 14, Uptown 1, No. 1, Jalan SS21/58, Damansara Uptown, 47400 Petaling Jaya, Selangor Darul Ehsan

Details of changes
Type of transaction	Date of change	No of securities	Price Transacted (RM)
Acquired	22/11/2007	3,295,000	0.178

Circumstances by reason of which change has occurred	:	Acquisition
Nature of interest	:	Direct
Direct (units)	:
Direct (%)	:
Indirect/deemed interest (units)	:
Indirect/deemed interest (%)	:
Total no of securities after change	:	48,295,000
Date of notice	:	22/11/2007

invest_klse

原帖由 Mr.Business 于 22-11-2007 12:05 PM 发表


附加股的价钱是RM0.135，既然是每100股缩阳为70股，那现在市价跌过RM0.19［(RM0.19／100)*70=RM0.133], 现在买进会比买附加股有吸引力。

APLI(5479)  11:50:06Last Done0.180Change-0.050Day High0.200D ...

I think the calculation should be RM0.19 *100/70 = RM 0.27 ??

Mr.Business

新闻。

Published: 2007/11/22

Supermax to help APL Industries return to profit

By Rupinder Singh

RUBBER glove maker Supermax Corp Bhd plans to restructure its ailing associate APL Industries Bhd (APLI) and help it return to profit in the year to June 30, 2008.

APLI, which will change its name to Maxter International Bhd, is expected to post a net profit of RM3.63 million compared with a net loss of RM21 million in 2007.

Revenue should rise by 0.9 per cent to RM188.2 million, Supermax executive chairman cum managing director Datuk Stanley Thai said in a briefing in Kuala Lumpur yesterday.

He expects APLI's net profit to surge 400 per cent in 2009, helped by capacity expansion and a stronger push into fast-growing markets like China and India.

APLI could also declare its first dividend in 2009.

But for the moment, the plan is to help boost APLI's shareholders' fund to above RM60 million. It will also raise some RM98.5 million to cut debt and expand.

APLI is now flagged as a PN17 status, which warns investors of companies with fragile financial health.

Under the plan, APLI will also liquidate loss making associates and sell non-core assets at a discount to clean up its balance sheet.

Thai said he expects the revamp to be completed before APLI's year-end on June 30, 2008.

APLI will cut its paid-up capital by 93 per cent to RM24.33 million to reduce accumulated losses.

This will be followed by a three-for-one rights issue of up to 729.99 million shares of 13.5 sen apiece.

Supermax, which owns 12.9 per cent of APLI, will subscribe for its share of the rights issue.

"After APLI's restructuring, Supermax will own 126 million shares in APLI at a total cost of RM39.8 million or 31.6 sen per share," he said.

The proposals are subject to approvals from APLI's shareholders and relevant authorities.

The bulk of the money from the rights issue, or RM60 million, will be used to rebuild and expand its existing plants. Another RM25 million will be used to repay debt and the rest is for working capital.

Post restructuring, Thai will cease to be chief executive officer of APLI, which instead will be headed by his wife, Datin Cheryl Tan. However, he will remain as a director.

http://www.btimes.com.my/Current ... lock22.xml/Article/

[ 本帖最后由 Mr.Business 于 23-11-2007 08:52 AM 编辑 ]

Mr.Business

原帖由 invest_klse 于 23-11-2007 08:48 AM 发表
I think the calculation should be RM0.19 *100/70 = RM 0.27 ??

invest_klse兄，
请用中文。

不过你是对的，我疏忽了。。。我再算了算。现在APLI的市价要跌到RM0.0945才会跟附加股的价钱符合(附加股的价钱是RM0.135；RM0.0945*100/70 = RM0.135)。

mjchua

原帖由 Mr.Business 于 23-11-2007 08:56 AM 发表


invest_klse兄，
请用中文。

不过你是对的，我疏忽了。。。我再算了算。现在APLI的市价要跌到RM0.0945才会跟附加股的价钱符合(附加股的价钱是RM0.135；RM0.0945*100/70 = RM0.135)。

我等 RM0.100 以下...

Blog

Supermax proposes rights issue

KUALA LUMPUR: Supermax Corp Bhd has proposed a restructuring to turn around its loss-making associate, APL Industries Bhd (APLI). The plan includes, among others, a rights issue to raise some RM98.5mil cash and recapitalising its shareholder equity to above RM60mil to uplift it from PN17 status.

The company has also proposed a capital reduction and share consolidation exercise that would result in APLI's paid-up capital being reduced to RM24.3mil from RM347.6mil currently, and the consolidation of APLI's issued and paid-up share capital into 243 million 10 sen shares.

This will be followed by a three-for-one rights issue of up to 730 million 10 sen shares at 13.5 sen each.

Upon completion of the entire exercise, APLI will have a paid-up share capital of RM97.33mil comprising 973.3 million shares.

According to executive chairman Datuk Seri Stanley Thai, proceeds from the capital raising exercise would be used to rebuild and expand some of APLI's existing plants, repay bank borrowings of about RM25mil and for working capital.

Thai said the capital expenditure plans included rebuilding 15 new production lines at the Senawang plant, expanding facilities at its Vietnam and Tawau plants, as well as building six new production lines.

He also said the company planned to clean up APLI's balance sheet by liquidating its non-core subsidiaries.

“APLI will only keep and expand its performing subsidiaries,” he said.

According to Thai, the restructuring was pending approval from the Securities Commission, and expected it to be completed by July 2008.

He said post-restructuring, APLI would have healthy cash flow and low gearing.

“We expect to post a healthier balance sheet by 2009 with a gearing of 0.39 time,” he said, adding that he was targeting to declare the first dividend by June 2009.

Thai added that as part of the restructuring, APLI would also have a new corporate structure with a name change to Maxter International Bhd and a new CEO, Datin Seri Cheryl Tan, would be appointed.

Going forward, he said Supermax's long-term growth strategy would be to increase earnings contributions from other divisions and not depend solely on its manufacturing division.

He said in future, income from the distribution division would contribute at least 50% to the company's total income.

On plans to build more factories, Thai said Supermax was a market-driven company and would grow in tandem with the market.

“As demand increases, we will build more factories,” he said.

8years

做假账不但没有人追究，竟然还敢right issue,这就是马来西亚，利害利害

8years

bursa 的email回了没有？？都讲是没有用的啦

Mr.Business

原帖由 mjchua 于 23-11-2007 09:37 AM 发表
我等 RM0.100 以下...

如果不打算买附加股的话，等到RM0.10以下才值得买，不然到时到处都是RM0.135的货。

APLI现在的市价是RM0.17, 假设现在买进1000股并且出钱买下附加股，APLI重组以后，将拥有2800股 (本钱RM453.50,因此每股本钱RM0.16)。

mjchua

原帖由 Mr.Business 于 23-11-2007 10:33 AM 发表


如果不打算买附加股的话，等到RM0.10以下才值得买，不然到时到处都是RM0.135的货。

APLI现在的市价是RM0.17, 假设现在买进1000股并且出钱买下附加股，APLI重组以后，将拥有2800股 (本钱RM453.50,因此每股 ...

right issue 後的價錢不會調整嗎 ?