?Titan ??????????? - Titan

kcthye

原帖由 ricarda 于 14-2-2007 02:53 PM 发表
现在PE４，适合进场吗？

好像有分析员不是很看好他。说PROFIT不能维持到２００８年。。

可能是收购印尼的一间公司不够透明化。

hc.goh

if PE = 7.4 (before financial report)
the price should be around RM3.27
AM i right ?

kcthye

原帖由 hc.goh 于 14-2-2007 03:09 PM 发表
if PE = 7.4 (before financial report)
the price should be around RM3.27
AM i right ?

44.19x7.4=327
应该是吧。

ricarda

原帖由 kcthye 于 14-2-2007 03:08 PM 发表

可能是收购印尼的一间公司不够透明化。

是吧！
PROFIT 又是EXTRAORDINARI 。。。
没关系，等等看好了。。
谢谢！

raulhong

哎，1。28的时候没有进场！现只有2粒1.38的票。。

hc.goh

希 望 各 位 大 大 。来 烟 酒 烟 酒 titan 这 股 。

1）高 ROE = 0.4419/1.87 = 0.2363

2) DEBT 有 问 题 。太 高 ！
   D/E = 1627938/1752700= 0.928
3) PE = 1.7/0.4419 = 3.847 很 低
   同 业 大 概 PE = 10
   IF PE = 10 , TARGET PRICE = RM 4.41
4) THE ONLY LOW COST 的 白 人 MD.


5) 大騰化學看好前景
http://www.biznewsdb.com/chinese/newspage/newspage1.asp?ID=7022612&file1=7&bulan=02&kw=titan


6）大騰石化積極擴展 冀奪印尼50%市佔率
http://www.biznewsdb.com/chinese/newspage/newspage1.asp?ID=7022635&file1=7&bulan=02&kw=titan


7）投資收益擴大 大騰化學業績受看好
http://www.biznewsdb.com/chinese/newspage/newspage1.asp?ID=702216&file1=7&bulan=02&kw=titan


PLS CORRECT ME IF MY INFO IS WRONG.







[ 本帖最后由 hc.goh 于 30-3-2007 08:43 PM 编辑 ]

财散人聚

Products

Titan Chemicals produces a range olefins, aromatics and polyolefins.

Product Primary Uses
Ethylene Polyethylene, ethylene dichloride, ethylbenzene, ethylene oxide/ethylene glycol. Downstream uses: VCM, styrene, antifreeze, polyester for fibers and PET.
Propylene Polypropylene, propylene oxide, acrylonitrile. Downstream uses: Detergent and ABS.
Olefin co-products Downstream uses: Synthetic rubber, polyester, acrylics and fuels.
Low Density Polyethylene Film for bread bags, dry cleaning bags, food wraps; paper and foil coatings for milk cartons and snack packages.
Linear Low Density / High Density Polyethylene Film for shrink wrap, trash and carry bags; containers such as tubs, pails and bottles.
High Density Polyethylene Ultra strong pipes and ultra-thin films.
Polypropylene Fibers and filaments for fabrics and carpets; components for autos and appliances, electronic equipment housing, film for packaging and bottles.


Polyethylene (PE)

PE is the most widely used polyolefin in the world by volume. Titan Chemicals produces all three types of PE, namely High Density Polyethylene (HDPE), Low Density Polyethylene (LDPE) and Linear Low Density Polyethylene (LLDPE), in more than 70 grades in total. In 2002, Titan Chemicals became the first producer in Asia (excluding Japan) to be licensed for the metallocene LLDPE (mLLDPE) technology and thus become the first Asian manufacturer to produce such material outside of Japan. Currently, Titan Chemicals only produces mLLDPE based on market demand.

Polypropylene (PP)

Titan Chemicals PP plants are configured to manufacture homo-polymer PP, as well as random co-polymer PP and impact co-polymer PP.  Co-polymerization improves PP's impact resistance and flexibility.  Random co-polymers exhibit higher clarity, good impact resistance and more flexibility.  Impact co-polymers exhibit greater impact strength at lower temperatures and higher melting points than random co-polymers. Titan Chemicals produces 21 grades of Homo-polymer PP and 20 grades of Random Co-polymer and Impact Copolymer PP.

kcthye

大騰化學看好前景

Updated : 26-02-2007
Media : 東方日報
Story By : N/A
www.biznewsdb.com

(吉隆坡26日訊)東南亞最大聚合物原料生產商大騰化學(TITAN，5103，主板工業股)在未來數年，料將保持樂觀的發展前景。因為聚合物原料的需求料持續強勁和沒有新競爭者的加入。

大騰化學去年的淨利大增142%，主要歸功於聚烯烴賺幅和產量激增所致。去年，印尼大騰石化公司的市占率和貢獻持續增長，可望放2008年底，提高該國現有22%的市占率至50%之多。

大騰化學董事經理湯姆斯卻指出，大馬市場不但是該公司最大的市場，未來其貢獻額料持續上漲。目前，大馬是該公司最大的市場，市占率高達46%、其次為中國和印尼，分別為26%和13%。

不過，至今大騰化學在中國並沒有工廠，其產品都是來自大馬和印尼的生產。他表示，看好中國巨大市場的潛能，並已在探討有關在中國設廠的可能。

他是在該公司召開的記者會上，發表上述的談話。

另一方面，他還談到大騰化學面對的最大挑戰，並非是原油價格高漲，因為他們能有效轉換該成本的增加。他說：「分析員和市場人仕經常忽略其產品的價格是充滿彈性的。」

基於市場對該原料的需求，將維持穩定的成長。此外，亦沒有其它新工廠的設立，供應亦將維持穩定。所以他對未來幾年保持樂觀的態度。因為供過應求將推低產品價格和賺幅。

此外，該公司將維持約30%股息發放率的政策。他解釋說，該公司是屬於資本密集的工業，所以需要許多資金的投入。不過，大騰化學已獲得政府所頒發的10年期股息稅務減免優惠，至2017年為止。


www.biznewsdb.com

kcthye

About Titan > Founding Shareholders

Founding Shareholders

Titan Chemicals began as a joint-venture in which Datuk T.T. Chao, through The Chao Group International and Permodalan Nasional Berhad (PNB), through its wholly-owned subsidiary, PNB Equity Resources Corporation (PERC), have major interest.

The Chao Group is a privately held conglomerate, producer and marketer of petrochemicals and plastics. Apart from Titan Chemicals investment, The Chao Group also controls the US-based Westlake Chemical Corporation (which is listed on the New York Stock Exchange) and other affiliated operations located primarily in The People’s Republic of China and Taiwan. For more information, please visit www.westlakechemical.com

PERC’s investments are long-term and involve various forms of equity participation, including common and preferred shares, convertible instruments and other related equity investments. The PNB Group has interest in over hundreds of companies, exceeding billions of Ringgit in value. For more information, please visit www.pnb.com.my

The success of Titan Chemicals has been the result of the synergistic relationship, combining the experience, entrepreneurial expertise and market dominance of The Chao Group with the strength and track record of PNB. And this partnership has paved the way for Titan Chemicals to emerge as a dominant player in Asia's polymers industry.

Since its founding five decades  ago, The Chao Group has continuously focused on creating synergies and optimizing benefits for its stakeholders. This focus has led to the alliances with organizations such as Gulf Oil Corporation (Chevron), Mobil Oil Corporation, Montell USA Inc., Mattel Inc., Sumitomo Corporation, Mitsubishi Corporation, BTR Nylex Ltd., and Norsk Hydro to name a few.

Datuk TT Chao retired from the Board of Directors in 2006 and remains Chairman Emeritus.

台湾老板。

[ 本帖最后由 kcthye 于 31-3-2007 03:11 PM 编辑 ]

kcthye

Top 20 Shareholders (as at 10 March 2006)

No.
Name of shareholder
No. of shares
%

1
Mayban Securities Nominees (Asing) Sdn. Bhd.

Union Harvard Investments S.R.L.


546,402,588
31.18

2
Permodalan Nasional Berhad


470,114,000
26.82

3
Mayban Securities Nominees (Asing) Sdn. Bhd.

CGDC Investments Corporation


93,272,800
5.32

4
Amanah Raya Nominees (Tempatan) Sdn. Bhd.

Skim Amanah Saham Bumiputera


50,000,000
2.85

5
Amanah Raya Nominess (Tempatan) Sdn. Bhd.

Amanah Saham Malaysia


34,979,400
2.00

6
Lembaga Tabung Haji


31,912,200
1.82

7
Amanah Raya Nominees (Tempatan) Sdn. Bhd.

Amanah Saham Wawasan 2020


31,433,600
1.79

8
OSK Nominees (Asing) Sdn. Bhd.

UOB Kay Hian Private Limited for Chen Kung@ Chin Vangvira @ Chin Ah Keong


18,700,00
1.07

9
Mayban Securities Nominees (Asing) Sdn. Bhd.

SC Polymers Inc.


16,646,000
0.95

10
HSBC Nominees (Asing) Sdn. Bhd.

Abu Dhabi Investment Authority


15,390,000
0.88

11
Cartaban Nominees (Tempatan) Sdn. Bhd.

Amanah SSCM Nominees (Tempatan) Sdn Bhd for Employees Provident Fund Board


14,000,000
0.80

12
Pacific Trustees Berhad


13,995,100
0.80

13
Amanah Raya Nominees (Tempatan) Sdn. Bhd.

Amanah Saham Didik


12,675,800
0.72

14
Malaysia Nominees (Tempatan) Sendirian Berhad

Great Eastern Life Assurance (Malaysia) Berhad


11,366,900
0.65

15
Mayban Securities Nominees (Asing) Sdn. Bhd.

Yao, Sin-Yi


10,836,000
0.62

16
AllianceGroup Nominees (Tempatan) Sdn. Bhd.

Pheim Asset Management Sdn. Bhd. for Employees Provident Fund


9,654,500
0.55

17
Citigroup Nominees (Tempatan) Sdn Bhd

Exempt An For Prudential Assurance Malaysia Berhad


9,500,000
0.54

18
Kumpulan Wang Amanah Pencen

Jabatan Akauntan Negara M'sia


9,000,000
0.51

19
HSBC Nominees (Asing) Sdn Bhd

BBH and Co Boston For Alliancebernstein Emerging Markets Growth Stock Mother Fund


8,103,600
0.46

20
Cimsec Nominees (Tempatan) Sdn Bhd

CIMB-Principal Asset Management Berhad for Employees Provident Fund


7,518,700
0.43

sambora

原帖由 hc.goh 于 30-3-2007 05:50 PM 发表
希 望 各 位 大 大 。来 烟 酒 烟 酒 titan 这 股 。

1）高 ROE = 0.4419/1.87 = 0.2363

2) DEBT 有 问 题 。太 高 ！
   D/E = 1627938/1752700= 0.928
3) PE = 1.7/0.4419 = 3.847 很 低
   同 业  ...

Trade and other receivables = RM562,760,000.跟煤岸很像。怕高负债导致他的股价只跌不起

tianmimi

PE 低，股息不错，值得一看。不过最近油价偏高，倒要留意了。。

hc.goh

大騰化學（TITAN，5103）受惠於走勢疲弱的原油價，加上聚丙烯和聚乙烯價格走高，使其涉足的石油化學領域前景備受看好。

大騰化學目前以1令吉48仙水平交易（相等於7.4倍本益比），除了遠遠落後綜指14.6倍的本益比，更低於該公司每股淨有形資產，建議投資者可趁低吸購。

中東與以色列的石油化學供應吃緊，加上歐洲道氏化學公司調高聚丙烯和聚乙烯價格，預料這種情況將持續至2009年。

聚丙烯和聚乙烯供應緊縮

聚丙烯和聚乙烯價格去年走高90%，6個月更大幅上揚180%和152%。由於原油價格趨軟，料將維持健康漲幅。此外，市場人士預測全球聚乙烯和聚丙烯需求將各超越110萬和270萬公噸，致使供應緊縮。

中東石油化學供應短缺的主要原因是原料短缺，因為生產這類原料需要龐大的資本。海灣合作委員會和伊朗新石油化學發展到了2010年需要投資約500億美元（1752億令吉），單是沙地阿拉伯本身便要250億美元（876億令吉）。

sunday365

原帖由 sambora 于 31-3-2007 03:19 PM 发表

Trade and other receivables = RM562,760,000.跟煤岸很像。怕高负债导致他的股价只跌不起

TITAN 是GLC 但是用鬼佬做Managing Director.鬼佬在SHAREHOLDER RELATIONSHIP的作风比较专业 , 每个季度会寄信向SHAREHOLDER报告公司的进展. 我也可以看出TITAN有付出努力来减低负债.
在这点MEGAN就输给TIITAN.

magnumao

就是有看没有懂，已经看了很多次了。。。。。
Wiki也找过了，还是不明白什么是Polyethylene

不过现在至少知道是和塑料有关

财散人聚

致:magnumao

Polyethylene 是一种化学成分，用来制造塑料的。如果没错的话，是必须用到原油来抽取和提炼，才能得到的材料。。。。。


生产与应用
聚乙烯产品通常掺加大量各种添加剂以抗氧化等环境因素破坏。聚乙烯还可以和一些人造橡胶产品混合在一起增加抗冲击能力。


预览尺寸： 800 × 289 画素
高分辨率图像 (1000 × 361 画素, 档案大小： 101 KB, MIME type: image/png)

[ 本帖最后由 财散人聚 于 1-4-2007 11:50 PM 编辑 ]

hc.goh

大騰化學面對的最大挑戰，並非是原油價格高漲，因為他們能有效轉換該成本的增加。this is the confidence.
give me five

[ 本帖最后由 hc.goh 于 3-4-2007 03:59 PM 编辑 ]

thomas2

原帖由 sunday365 于 31-3-2007 04:59 PM 发表


TITAN 是GLC 但是用鬼佬做Managing Director.鬼佬在SHAREHOLDER RELATIONSHIP的作风比较专业 , 每个季度会寄信向SHAREHOLDER报告公司的进展. 我也可以看出TITAN有付出努力来减低负债.
在这点MEGAN就输给T ...

上年又收到几封包括现任还有前任的MD都有。。。。。

还有一个外国人满重视的是CSR...比起本地的来说，他们满注重这方面的。。。

yusiang

（本来发在8years的贴里，顺便也放放这里。）

买titan的朋友可要注意naphtha的价格，这种原料占了很高的operating cost，有兴趣的可以看看http://www.plastemart.com/feedstock.asp , 不过不是live/隔天的。我个人认为titan的management真的很好，油价高涨的时候仍可以控制成本实在不简单，现在的股价太低了一点。

bchai

Titan
PE ＝ ３。８７
D／Y ＝ 4.4
NTA ＝１。９
值得投资吗？每年的盈利都有成长。