Isnin, 31 Disember 2018

Debat SPV Tabung Haji Pro Pembangkang Part 1.

NAJIB SHAARI | i) Aset TH yang dipindahkan ke SPV Urusharta Jamaah Sdn Bhd;



1 - Naim Holdings Bhd . 24juta Unit 3%
2 - Malakoff Corp Bhd . 500juta Unit 10%
3 - Integrated Logistic Bhd . 20juta Unit 9%
4 - Dayang Enterprise Bhd . 76juta Unit 8%
5 - Pintaras Jaya Bhd . 11juta unit 7%
6 - Eastern and Oriental Bhd . 94juta unit 7%
7 - Hapseng Plantation Bhd . 66 juta unit 8%
8 - UEM Sunrise Bhd . 348juta unit 8%
9 - IJM Corp Bhd . 227juta unit 6%
10 - Pelikan International Bhd . 157juta unit 30%
11 - Icon Offshore Bhd . 103juta unit 9%
12 - TH Heavy Engineering Bhd . 334juta unit . 30% .
13 - Parkson Berhad . 105juta unit . 10%
14 - Lion Industry. 44juta unit . 6%
15 - MCT Berhad . 133juta unit . 9%
16 - KSL Berhad. 71juta unit . 7%
17 - MMHE Berhad . 105juta unit . 7%
18 - Mahsing Berhad . 139juta unit . 6%
19 - Adventa Berhad . 14juta unit . 9%
20 - CSC Steel Berhad . 27juta unit . 7%


Kalau kita perhatikan, kebanyakkan company yang dipindahkan ni semuanya TH pegang less than 10%. Ada 2 je TH pegang 30%. If TH pegang less than 10%, apa benda yang TH boleh buat untuk pulihkan company tu?

TH literally a minority shareholder dalam company tersebut and literally TH can do nothing about the company performance. If benda tu beralih masuk SPV pon, SPV tu pon tak boleh do anything to improve company tu punya performance.

So timbul persoalan, apa function equity diatas selain daripada THHeavy dan Pelikan dimasukkan dalam SPV Urusharta Jamaah Sdn Bhd tu ?

More to come from me. Watch this space.

ii) Korang dah tahukan aset milik TH yang dipindahkan ke SPV UrusHarta Jamaah Sdn Bhd?

Okay jom kita tengok performance asset-asset tersebut. 


Alang-alang aku tak dapat tidur dah, bagi korang sekali tak boleh tidur.

1 - Naim Holdings Bhd - YOY Profit Growth, QOQ Profit Growth , Profit Growtb Continously for 3 Quarter, Last Quarter profit highest in 2 year. 


2 - Malakoff Corp Bhd - Divident yield 7% pa , Paid divident almost 40sen per unit since listing date 2015 (TH bought Malakoff at RM1.80 sen).


3 - Integrated Logistic Bhd - Underperform.


4 - Dayang Enterprise Bhd - YOY Profit Growth, QOQ Profit Growth, Profit Growtb Continously for 3 Quarter, Last Quarter profit highest in 2 year. 


5 - Pintaras Jaya Bhd - Divident yield 9% pa.


6 - Eastern and Oriental Bhd - Divident yield 3% pa.


7 - Hapseng Plantation Bhd - Divident yield 5% pa.


8 - UEM Sunrise Bhd - YOY profit growth, Divident yield 2%.


9 - IJM Corp Bhd - Divident yield 3% pa. 


10 - Pelikan International Bhd - YOY profit growth , profit making company. 


11 - Icon Offshore Bhd - Order book this year RM300million.

Ada 6-7 company yang constantly bayar divident setiap tahun. Harus diingat RCPS yang TH pegang tidak beri divident. Divident untuk 6-7 company ni pergi ke SPV tanpa perlu SPV membayarnya kembali kepada TH. TH melopong je lah tengok divident tu.

Ada 2-3 company yang improving every year. Kita boleh tengok ada company profit growth YOY, QOQ, mencatatkan keuntungan tertinggi untuk quarter result. Kalau kedepan mula bayar divident samalah macam kes diatas. SPV tidak perlu membayar kembali kepada TH dan TH melopong je lah tengok.

Ada 1 company order book (dapat kontrak) bernilai RM300juta untuk 2018 dan dijangkan akan memberi kesan positif terhadap company tersebut.

YOY : Year on Year
QOQ : Quarter on Quarter
PA : Per annum (setahun)
Dividen Yield : Pulangan dividen

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