【SUPERMX 7106 交流专区】速伯玛

camry

谢谢，看来近来所有大型手套股的董事和大股东都没有出货，topglov老板还买进，出货的应该是一些小股东，看来我可以安心买进一点手套股了。

mjchua

原帖由 Mr.Business 于 9-11-2007 04:58 PM 发表
大股东 (拥有5%的股份以上)和董事卖出股份需要在2个星期内宣布。

基金股东如果不是大股东，卖出股份根本不需要通知。

兩個星期嗎 ? 不是最多 7 天 ? 我記錯了 ?
像 megan 的老板... 幾個月都可以... 都沒有聽說 SC 要起訴他...

camry

原帖由 Mr.Business 于 9-11-2007 04:58 PM 发表
大股东 (拥有5%的股份以上)和董事卖出股份需要在2个星期内宣布。

基金股东如果不是大股东，卖出股份根本不需要通知。

那么如果超过两个星期才宣布会如何，我发现经常都有超过两星期才宣布的买卖，有时更是好几个月后才宣布，没问题的吗？
Stock Name  : SUPERMX
Date Announced : 09/05/2005
Name : Employees Provident Fund Board
Disposed 18/02/2005  44,900  
Acquired 24/01/2005  360,000  
Disposed 21/02/2005  5,600  
   
Stock Name  : SUPERMX
Date Announced : 30/01/2007
Name : Employees Provident Fund Board
Disposed 21/09/2006  4,000  
Acquired 13/10/2006  196,100  
Disposed 03/01/2007  87,100  
Disposed 08/01/2007  7,100  
Disposed 11/01/2007  81,000  

Stock Name  : KOSSAN
Date Announced : 10/02/2007
Name : LIM KUANG SIA
Disposed 18/12/2006  2,320,000  
Disposed 19/12/2006  680,000

原帖由 mjchua 于 9-11-2007 09:05 PM 发表


兩個星期嗎 ? 不是最多 7 天 ? 我記錯了 ?
像 megan 的老板... 幾個月都可以... 都沒有聽說 SC 要起訴他...

的确，如果没受到对付的话，那么这个条例如同虚设，好看而已。
Stock Name  : MEGAN
Date Announced : 15/08/2007
Name : DATUK DR. NORDIN BIN YUSOF
Disposed 09/04/2007  201,100  
Disposed 10/04/2007  102,900

Mr.Business

原帖由 camry 于 9-11-2007 10:58 PM 发表
那么如果超过两个星期才宣布会如何，我发现经常都有超过两星期才宣布的买卖，有时更是好几个月后才宣布，没问题的吗？
Stock Name  : SUPERMX
Date Announced : 09/05/2005
Name : Employees Provident Fund Board
Disposed 18/02/2005  44,900  
Acquired 24/01/2005  360,000  
Disposed 21/02/2005  5,600  
   
Stock Name  : SUPERMX
Date Announced : 30/01/2007
Name : Employees Provident Fund Board
Disposed 21/09/2006  4,000  
Acquired 13/10/2006  196,100  
Disposed 03/01/2007  87,100  
Disposed 08/01/2007  7,100  
Disposed 11/01/2007  81,000  

EPF和Lembaga Tabung Haji好象有特权，不用立刻呈报。

原帖由 camry 于 9-11-2007 10:58 PM 发表
Stock Name  : KOSSAN
Date Announced : 10/02/2007
Name : LIM KUANG SIA
Disposed 18/12/2006  2,320,000  
Disposed 19/12/2006  680,000

Date of notice是22/12/2006，可能你要再查清楚一点。

Company Name	:	KOSSAN RUBBER INDUSTRIES BERHAD
Stock Name	:	KOSSAN
Date Announced	:	10/02/2007

Information Compiled By Bursa Malaysia

Particulars of Director

Name	:	LIM KUANG SIA
Address	:	81, Jalan Sungai Nibong 7, Rantau Panjang, 42100 Klang, Selangor
Descriptions(Class & nominal value)	:	Ordinary shares of RM0.50 each

Details of changes

Type of transaction	Date of change	No of securities	Price Transacted (RM)
Disposed	18/12/2006	2,320,000
Disposed	19/12/2006	680,000

Circumstances by reason of which change has occurred	:	Sale of shares
Nature of interest	:	Deemed indirect interest
Consideration (if any)	:

Total no of securities after change:
Direct (units)	:	190,944
Direct (%)	:	0.12
Indirect/deemed interest (units)	:	82,870,944
Indirect/deemed interest (%)	:	51.84
Date of notice	:	22/12/2006

Mr.Business

APLI和Supermax于星期五的股价表现。

APLI

(5479)  23:43:33

Last Done	0.245
Change	0.000
Day High	0.250
Day Low	0.240
Best Buy	0.240
Best Sell	0.245
Volume(Lot)	46730

SUPERMX

(7106)  23:43:33

Last Done	2.200
Change	0.000
Day High	2.200
Day Low	2.190
Best Buy	2.190
Best Sell	2.200
Volume(Lot)	189

camry

原帖由 Mr.Business 于 10-11-2007 07:42 PM 发表


EPF和Lembaga Tabung Haji好象有特权，不用立刻呈报。


Date of notice是22/12/2006，可能你要再查清楚一点。

又是特权这种东西啊，原来如此。

不好意思，没注意到notice date，但是bursa的announcement date却是10/2/07,是不是说就算通知了bursa，bursa也未必会立刻宣布给小股东知道，那么对小股东不是也一样不利吗。

Mr.Business

建议你去查查Kossan的股权更动的记录，不然就去问Kossan。如果你不满意Kossan的答案，你可以选择不要投资Kossan。

Kossan的Investor contact：
http://www.kossan.com.my/inv_cn.htm

camry

老兄，经你的解释，我已经知道kossan没问题了，请再看清楚我上一个贴子，我只是想知道notice date跟announcement date的大差距的问题而已，因我是从bursa网站的"change in shareholding"取讯息的.


无论如何，谢谢你的解释。

Mr.Business

我也是觉得很奇怪为何notice date跟announcement date的差距这么大。

Mr.Business

原帖由 camry 于 9-11-2007 05:20 PM 发表
谢谢，看来近来所有大型手套股的董事和大股东都没有出货，topglov老板还买进，出货的应该是一些小股东，看来我可以安心买进一点手套股了。

请问camry 兄对哪间手套公司有兴趣？

camry

原帖由 Mr.Business 于 10-11-2007 08:53 PM 发表


请问camry 兄对哪间手套公司有兴趣？

对手套股做过一点点的研究，对象是三强和adventa，得出小小的个人结论，

最有野心的管理层
第一名 Topglov
第二名 Supermx
第三名 Kossan
第四名 Adventa

最稳的管理层
第一名 Kossan
第二名 Topglov
第三名 Adventa
第四名 Supermx
Kossan 似乎没听到什么不利的新闻，Topglov曾有外劳事件,如今也有子公司的麻烦，Supermx就太冲动，Adventa就火烧厂。

最强的管理层
第一名 Topglov
第二名 Supermx和Kossan
第三名 Adventa
Topglov相当积极，将来还可能收购橡胶园。

其实哪一个比较好是见仁见智的，虽然topglov是好,但它已是一个巨人，要再长大比较不容易，Supermx有品牌的优势，Kossan在医疗手套是一哥（应该是吧），adventa规模较小所以比较有高增长的潜能。我个人是比较喜欢kossan，个性的关系吧，喜欢它的稳。不过也要注意手套股们的潜在风险，大家都有提过的。

Mr.Business

我个人只研究过Top Glove和Supermax，对Kossan就没什么研究。camry兄或者可以开帖讨论Kossan？

PS：DRAGONISM兄也曾开帖讨论Kossan。
<KOSSAN － 成长中的手套公司>

Mr.Business

原来Cari网友也曾开帖讨论Seal Polymer。
<SEAL POLYMER>

摘录内容：

原帖由 Superman 于 11-4-2004 10:15 PM 发表
SEAL POLYMER

手套制造,新股,供研究资料非常少,
因此需要时间监视它的发展.
我不说它的好坏,只是自己有买了少许.

收益分析(不错的发展):
Revenue(年对年比较,2002 vs 2003): +76.67%
Net Profit(年对年比较,2002 vs 2003): +136%
Revenue(02Q4对03Q4比较): +51.52%
Net Profit(02Q4对03Q4比较): +57.54%

以现在的101,000,000股量,计算它的EPS增长:
EPS(2003)=0.2175
EPS(2002)=0.0921
EPS(增长)=136%

债务方面(有好转,但有点重):
Current Ratio(2003)=1.12
Current Ratio(2002)=1.14
Current Liabilities(2003对2002)=+39.64%
Current Assets(2003对2002)=+42.54%
长期债务(2003对2002)=保持1500万
NTA=0.67,新普通股价0.50.

现金流程,
Cash flow=正面
Cash+cash equivalent(年对年比较,2002 vs 2003)=+29%

比率表现,
ROE分析,
ROE=EPS(Diluted)/NTA=0.2175/0.67=0.32或32%
它的EPS是因为'免所得税'增加了6M才会这么高.

ROI分析,
因为供研究资料非常少,
因此我拿EPSG=50%做参考[Net Profit(02Q4对03Q4比较): +57.54%],
目前市价1.95,目前EPS=0.2175 , 2004 Est. EPS=0.3262,

1年后,
Yearly Earning=0.33
ROI This Year=16.9%
Cumulative Earning=0.33
Cumulative ROI=16.9%

2年后,
Yearly Earning=0.50
ROI This Year=25.4%
Cumulative Earning=0.83
Cumulative ROI=42.3%

3年后,
Yearly Earning=0.74
ROI This Year=38.1%
Cumulative Earning=1.57
Cumulative ROI=80.4%

4年后,
Yearly Earning=1.11
ROI This Year=57.1%
Cumulative Earning=2.68
Cumulative ROI=138%

PEG分析,
目前P/E=8.9,PEG Equals=0.2
At Current P/E, Projected Stock Price,
After 3 years=6.58
After 5 years=14.81
At P/E of 12, Projected Stock Price,
After 3 years=8.91
After 5 year=20.05
At P/E of 15, Projected Stock Price,
After 3 years=11.14
After 5 year=25.06

市价分析,
EPS/PRICE=0.11或11%(比TOPGLOV,TSH,WCT便宜)  
NTA/Price=0.34或34%(有点高)

上市资金流动和未来发展,
1.公司将动用22.5M扩展业务,今年尾增加六条生产线,产量将增加25%.
2.动用18M还债,Current Liabilities会有所改进.

附加说明:
1.产品不受季节或周期影响.
2.出口导向产品,85.67%出口美国,12.80%出口欧洲.
3.'开创地位'公司,免所得税直30/09/2006.

原帖由 Superman 于 27-4-2004 02:18 PM 发表
再见了SURF88,感谢你陪伴我走过了一段值得怀念的日子,当我张开了翅膀向上飞的时候,
你切匆匆的离开了......只留下一些纪念品.

Seal Polymer
By:Surf88
Date: Thursday, April 08, 2004

-Perak-based rubber glove manufacturer of respectable size, focussing on powder-free and nitrile  gloves
-Exports almost 100% of output with the US as the largest market
-Industry fundamentals have improved with the exit of weaker players,while the key forward is to expand size and economies of scale
-Fair value of RM1.85-RM2.00 based on 13x-14x Feb 2005 PER, 2.1x-2.2x NTA and 3.0%-3.2% net dividend yield

Perak-based rubber glove manufacturer.  Main Board-bound Seal Polymer Industries Bhd (Seal Polymer) (stock code 5083), which started the production of rubber gloves in 1996, ranks today as one of the larger Malaysian producers with annual capacity of approximately 2.2B pieces.  This is about one-quarter the size of Top Glove (RM7.20, stockcode 7113), the second largest rubber glove producer in the world, and about half that of Supermax (RM4.92, stock code 7106) which is believed to be also among the top ten internationally.  

Mr Cheang Phoy Ken, Seal Polymer founder and Managing Director, controls 53% of the company together with his family members.  

Export-oriented with relative focus on powder-free gloves.  Seal Polymer exports almost all its examination rubber gloves, and mainly on OEM (Original Equipment Manufacturer) basis.  Worth a mention is its focus on powder-free and nitrile (synthetic rubber) gloves, having ceased the production of powdered gloves last year.  This is in view of rising preference for powder-free (about 80% of production) and nitrile gloves (20%) which also offer higher margins.  The US accounted for about 86% of Seal Polymer sales in the Feb 2004 financial year, while Europe was a far second at 13%.  Also take note that Seal Polymer enjoys pioneer status which gives it 100% tax exemption up to Sep 2006.

Respectable track record.  Seal Polymer has established a good track record as it continued to expand capacity and raise economies of scale to counter pricing and cost pressures.  In particular, it managed to grow pretax profit by 66% to a record high in the Feb 2004 financial year even with the additional challenge from the surge in rubber prices- the sharp turnover growth being boosted by the adjustment in selling price to partly pass on raw material costs.  While margins were inevitably under pressure, we should highlight that on this front, Seal Polymer was almost on par with Top Glove and in fact better than Supermax based on their latest results.  We believe this reflects its relative focus on higher-margin gloves, which was further aided by lower energy costs (around 20% of operations) thanks to the usage of bio-mass energy.

Competitive environment but the operating environment of rubber gloves as a commodity product is competitive with low barriers to entry. However, after the recent shakeout which forced the exit of weak players, the outlook has turned for the better.  This has helped in terms of passing on higher raw material costs via selling price adjustments, as was the case recently.

Expanding for the future.  Seal Polymer has set aside RM22.5M, or almost half of its net listing proceeds for a new factory to expand its capacity by about 70%.  In total, the company plans to install 18 lines in equal stages in 2004, 2005 and 2006.  As Seal Polymer is operating near maximum capacity, the upcoming expansion is crucial to expand volume, strengthen positioning and further raise economies of scale,which we see as the way to go in the rubber glove industry. At the same time, Seal Polymer is also exploring applications for disposable rubber gloves beyond the traditional users from the medical and healthcare industries.  As we understand, Seal Polymer intends to embark on the production of clean room gloves (for electronics industries) by 2005.   

Elsewhere, Seal Polymer has allocated RM18M (40% of net listing proceeds) to repay bank borrowings.  Post listing, it is estimated tobe in net debt of RM45M, or 39% of shareholders funds.

原帖由 DragonFoo 于 27-4-2004 05:02 PM 发表
它明年的股量是141,000,000。

原帖由 Superman 于 28-4-2004 08:41 AM 发表
谢谢指教.
bonus + subdivision =101,000,000
Public issue = 40,000,000
Total=141,000,000

原帖由 os 于 28-4-2004 10:31 PM 发表
superman你是在上市后的open market买入的吗?
据我观察,所知,新股上市后一个时期的股价,都是被大老板操纵的(多多少少),最好是等一排,'冷'下来后...

[ 本帖最后由 Mr.Business 于 10-11-2007 10:32 PM 编辑 ]

Mr.Business

原帖由 kching 于 9-7-2004 03:34 PM 发表
现在的股价已是 RM1.26,发生了怎麼回事?

原帖由 alfredfx 于 9-7-2004 03:39 PM 发表
high volume, price decrease.
someone pressing it down ?!

原帖由 tekyong 于 23-7-2004 07:32 AM 发表
superman,你好像踩到地雷了。

外幕: seal polymer 的 general manager (GM) ,"好像" 贪污.

annoucement:
http://202.190.247.207/EDMS/curs ... 357A4B?OpenDocument

Details of changes
Type of transaction  Date of change  No of securities    Price Transacted (RM)
Disposed             07/07/2004         1,000,000         1.300
Disposed             08/07/2004          400,000          1.300
Acquired             09/07/2004         1,400,000         1.200

这三天的资料
Date            Open     High      Low     Close   Change  Volume
7-Jul-2004      1.32     1.32     1.30     1.30    -0.020    4,183   
8-Jul-2004      1.31     1.33     1.30     1.32    0.020     2,440   
9-Jul-2004      1.31     1.32     1.25     1.25    -0.070    9,935   

Gan Peoy Hong ，seal polymer 的 GM， 证据看这里:
http://www.margma.com.my/Members ... ListingType=Profile

评论: 这个 "卡佬" 可以在 RM1.20 买进 1400000 股，你在看看 9/7/04 的成交量，才993500股，谁买给他的? 而且这三天的成交量那么少!
贪污的机率很大。最高价卖出，超低价买进!!!

结论: 总体来看 seal polymer 算是 获利能力良好的公司，只要公司内部高层不要乱来，还是可以进场。

to superman,至于你要不要 投诉 www.sc.com.my ,那就由你去决定了，假如我们去投诉的话，股价可能会暴跌，对你不好啊。。。。。

看开看开，这种事常有，睁只眼闭只眼吧!

原帖由 Superman 于 23-7-2004 09:52 AM 发表
早两个星期有人问为什么它的单日价格大降,当时我不在乎是因为我已经早把手上的Seal Polymer全给卖了因为我在研究它时疏忽了两件事.
1)新股的合理价格很难定价
价格波动有多大?
老板有加入推高或援持?
股票会在什么价格见低或巩固?
2)管理层的能力
对公司业务是否有推动力?
是否有远见?
是否善于动用公司资产?
对小股东公平吗?
虽然它的价格下降,但是我的投资言责让我减低损失;当我买进准备长期投资的股票,突然从高点迅速下降20%,我会马上把它卖出.已下是我买Seal Polymer的记录.
4/2004 买进 2.04
5/2004 卖出 1.64
22/7/2004 市价 1.30

?? superman,你好像踩到地雷了。
没有那么严重,只是踩到狗粪,用IGB-WB冲洗后已经没事了.

to superman,至于你要不要 投诉…..
如果没有错,在9/7/2004他们有一个超大形的场外交易,大于是4.9%-10%总股票的数量(真正的数目我忘记了),是以RM1.20成交.这个新闻有在报章上公布.

原帖由 kching 于 26-7-2004 10:08 AM 发表
klse.8k     01-04-2002 10:32 PM

大股东卖股，是好是坏？
最近，LB的大股东有脱售LB的股票，而RUBBEREX的大股东却有买进RUBBEREX的股票。

那么，大股东买卖自己的股票，是好是坏？
这很难说，因为大股东也是人，如果他们需要用到钱，他们也是要卖股的。
同样的，如果他们有多余的钱，他们也是会买进自己的股票。
当然，有的大股东买卖股票是有他们的策略。但是，我们是无法知道他们的动机。

例如：
最近大众银行的郑鸿标，先在市场脱售6千多张的大众银行股票，过了几天，他又买回7千多张，昨天他又买进5千张。这一卖，一买他手头上的股份却增加了。
如果我们看到他卖出，也积极的卖出，那么，他突然又买回来，我们也跟着买回来，那岂不是，很不得空？

所以，我一向来都不太注重大股东的买卖。
不是不关心，而是，接受事实：我们是无法从中看出任何眉目的。

上次EPF说，它要进场，而实际上，它却离场了。
美国退休基金说，它要离场，而实际上，外资却进场了。

股市是虚虚实实的。
我们是无法从大股东所提呈的买卖报告中，得知任何重要的讯息。
所以，不必太注重这些资料，就是我的看法。

原帖由 tekyong 于 26-7-2004 10:58 AM 发表
唉，楼上的，你离题了。
看清楚他的交易记录。。。。

先用 RM1.30 的价位卖掉 1,400,000股 .
两天后， 再买回来， RM 1.20 每股.  而且seal polymer 的最低价从来没有 低过 RM1.2 的，谁卖给他的????? \好像贪污。这个人在 "玩弄" 自己公司的股票。
和 klse.8k 的内容离题了。

Mr.Business

怪不得之后Seal Polymer也发生帐目不吻合的事件。。。

Integration pains

Updated : 05-08-2006
Media : The Star
Story By : ERROL OH

SUPERMAX Corp Bhd is in danger of becoming a case study for the pitfalls of mergers and acquisitions. Its management takeover of fellow listed rubber glove manufacturers APL Industries Bhd (APLI) and Seal Polymer Industries Bhd was among last year's biggest business stories, but people are beginning to wonder if the pains of integration will outweigh the benefits.

APLI is bleeding and its Vietnam plant ¨C the key reason for Supermax's entry ¨C has yet to go into full swing because of operational difficulties.
In comparison, it was widely thought that Seal Polymer would settle in smoothly at the Supermax stable. Yet, last Monday, the former announced that its net profit for the financial year ended February 2006 (FY06) had been slashed by almost half after its accounts had been audited.

Instead of the RM21.8mil as per the unaudited fourth-quarter results released last April, Seal Polymer's FY06 net profit has been restated to RM11.7mil, which is a 40% drop from the previous year's figure. The bulk of the variance was traced to raw materials, utilities and depreciation that had not been taken up previously.

In its announcement through Bursa Malaysia, the company says the deviation between the audited and the unaudited figures was mainly due to disruptive changes in the accounts personnel and the accounting system. It adds that its finance department was relocated to the corporate office in Sungai Buloh, Selangor, in June.

Even before last Monday's announcement, there had been signs that Seal Polymer's FY06 accounts would not be a glowing report card. The company missed the June 30 deadline for the submission of its audited accounts. Its application to the stock exchange for an extension of time was turned down, as was the subsequent appeal.

The accounts were finally filed with Bursa Malaysia last Monday. And as provided under the exchange's listing requirements, Seal Polymer had to explain the significant difference between the audited and unaudited net profit.

The last shocker?

In a research note issued last Wednesday, TA Securities says, &#161;°We are rather disappointed with the latest development as we believe that this incident was within the purview of management. It is our hope that this will prove to be a one-off event, as any other disappointing news could severely affect sentiment towards the share price of the stock.&#161;±

Indeed, Seal Polymer board of directors have a lot of explaining to do when they meet shareholders at the annual general meeting on Aug 28.

For starters, there will be questions as to why it took so long for the new management team to uncover the accounting discrepancies at Seal Polymer when it had come on board in May, immediately after Supermax had bought a 17% stake.

Seal Polymer managing director Datuk Seri Stanley Thai, who also heads Supermax and APLI, says the issues over accounting treatment and practices surfaced after the external auditors, Deloitte Kassim Chan, had been called in subsequent to the financial year-end.

Thai explains that the priority when Supermax assumed management control of Seal Polymer was to grow Seal Polymer's business by increasing capacity and strengthening the customer base.

That meant spending a lot of time on accelerating the expansion of Seal Polymer's factory in Taiping. At the same time, the management had been looking at operational areas such as integrating the work culture and the people.

&#161;°By the time we were ready to look into the bookkeeping and accounting matters, it was already the last leg of the streamlining exercise at Seal Polymer. It was also time for the year-end audit and we decided to do these together. It was the first audit under the new management,&#161;± he adds.

Thai says the deviation is a one-off thing and maintains that the integration of Seal Polymer is on track. For example, he points out, Seal Polymer no longer undertakes trading activities which offered low margins.

The company now focuses on manufacturing, whose revenue in FY06 had grown by 28%, mainly driven by the commissioning of new production lines since the management takeover.

He adds that the lower profit was largely due to higher raw material costs, an increase in the Taiping plant's pre-operating expenses and higher depreciation.

Still the right thing to do

The fretting over whether the acquisitions of the two associates will work out has been blamed for the pummelling that Supermax shares have taken in past six months. After hitting this year's high of RM3.88 on Feb 15, the stock has slid by 28%. In the same period, the Kuala Lumpur Composite Index inched up 0.9%.

Last Thursday, the counter closed at RM2.78, the lowest it has gone this year. Most of the analysts covering Supermax reckon that there is little downside to its share price right now (unless, of course, the shocks keep coming).

It is also fortunate that Seal Polymer and APLI do not yet have much of an impact on Supermax's bottom line. According to a CIMB Securities report last week, the two associates account for only 8% to 12% of their parent company's earnings per share. In addition, Supermax itself has no major problems to report.

Given these factors, at least three investment outfits have maintained buy calls on Supermax following the Seal Polymer announcement. But that does not mean they are untroubled by the bad news from Seal Polymer and APLI. Furthermore, there is the perception that Supermax had been hasty in investing in the two companies.

Says CIMB: &#161;°We are disappointed with these latest developments at APLI and Seal Polymer. In hindsight, some of these problems could have been anticipated or even avoided if Supermax had performed a full due diligence before acquiring stakes in both companies.

&#161;°We have in the past expressed our reservations on this issue. Unfortunately, Supermax&#161;&#175;s oversight in conducting a full diligence on both acquisitions has come back to haunt it.&#161;±

Thai denies that Supermax had not done its homework before doing the APLI and Seal Polymer deals. He says: &#161;°We have invested in the two public companies just like any other investor. We have conducted due diligence exercises through whatever public information the companies had released. We have done it.

&#161;°With APLI , we knew it had problems, but we didn't anticipate the magnitude of those problems.&#161;±

He maintains that the acquisitions are good moves that are meant to establish a group with the size, capacity and product range that can make it the strongest player in the industry.

He says: &#161;°I know people perceive that we have made the wrong investments, but business-wise, we have grown the companies. Supermax alone does not have the capacity to do a lot more business than that of our own brands. By combining the capacities of the three companies, we can accept orders from large, quality clients.

&#161;°We have been able to move to the forefront of the industry by entering market segments that we had not been strong in.&#161;±

That may be so, but observers are also concerned that Supermax may pay too much to increase its holdings in APLI and Seal Polymer. Supermax has a 12.9% stake in APLI (acquired in February last year) and 23.9% in Seal Polymer. Previously, Supermax had options to buy another 7.2% in APLI. However, the price was way above the current market price and the options have since lapsed.

At one time, Supermax was ready to announce its plan, codenamed Project Panther, to merge with Seal Polymer. However, this was called off, and on June 8, Seal Polymer announced that an ad-hoc merger committee has been formed to &#161;°explore all available options and the viability of the proposals to maximise shareholders' value&#161;±.

Thai explains: &#161;°We want to look at other options that we might have overlooked. There is no timeframe for us to come up with a decision. Much of it is subject to market conditions. Supermax and Seal Polymer are still operating as separate companies.&#161;±

Whether these three companies operate independently or not, the market already views them as interlinked. Any more jolts from either one will be felt throughout the group, and that is the last thing Thai and his team need while they continue to reshape the enlarged group.

[ 本帖最后由 Mr.Business 于 10-11-2007 10:44 PM 编辑 ]

ols1977

手套股我也研究了一段时间，就从本地的食品工业及医疗所就可看到他的需求量很大，我们再放眼世界手套需求量是更大，所以每年手套需求量按年成长10%是一个惊人的速度，再看supermax收购APLI，难道supermax不知道他在收购一间亏本公司吗？再看看APLI第三季及第四季的盈利就知道supermax的功力，用最便宜的价钱收购APLI，一旦APLI真正的正常的操作公司就赚大钱！就如一间饮食店由前老板管理时亏本，每月单单开销及工人工钱就花整万元，一个月收入只有几千一年就亏几万，然后一个外号叫超级豹的老板看中这间店，觉得他的潜力不错只是经营手法有问题，就底价收购包括债务，然后用自己的方式经营这间店，结果这间店就开始赚钱，虽然一年结束没有赚到什么钱，不过第二年开始就大赚，第三年。。第四年。。。
从APLI2007Q2 (Announced on 15/02/2007):
Profit/(Loss) = (RM2542K)
Shareholders＇equity=RM61482K
到
2007Q3 (Announced on 16/05/2007):
Profit/(Loss) = RM242K
Shareholders＇equity=RM61781K

从亏(RM2542K)到赚RM242K

再从2007Q3 (Announced on 16/05/2007):
Profit/(Loss) = RM242K
Shareholders＇equity=RM61781K

2007Q4 (Announced on 29/08/2007):
Profit/(Loss) = RM1182K
Shareholders＇equity=RM62296K

半年就赚1426k如果按第四季的盈利，明年最少赚4728k....最少哦！

Mr.Business

Supermax于2005年2月用RM0.60的价钱买进45 million股，花了RM27 million。RM0.60是便宜的价钱吗？
再说，Supermax在入股APLI之前，APLI是赚钱的，而在Supermax控制APLI之后，APLI就每季亏钱。为什么会这样呢？很简单，APLI的前任管理层在帐目上做了手脚，而且知道亏损很快就掩盖不了，所以就快快卖给Supermax，Supermax就做了冤大头。
至于APLI第三季及第四季的盈利，根本是假的，是假帐来的。我们在<APLI - Supermax超级豹的忧与愁>有详细的讨论，欢迎ols1977兄给予意见。

Mr.Business

原帖由 mjchua 于 9-11-2007 09:05 PM 发表
兩個星期嗎 ? 不是最多 7 天 ? 我記錯了 ?
像 megan 的老板... 幾個月都可以... 都沒有聽說 SC 要起訴他...

mjchua兄是对的。大股东 (拥有5%的股份以上)和董事卖出股份需要在1个星期内宣布。

Mr.Business

很高兴有保持相反意见的网友愿意出来给予看法 (我看坏APLI-Supermax,ols1977兄看好APLI-Supermax)。
我担心ols1977兄会误会我的165楼的语气不友善，其实我只是纯粹讨论，就事论事而已。所以请继续给予看法和纠正，谢谢。

8years

有一个严重问题：apli假报资产（把废铜烂铁变成机器），竟然没有罪？？

那么到底哪里还有上市公司的财报可以相信？？
下次如果我是上市老板，我就可以将全部废铜烂铁申报成值钱的机器我不就赚大钱？？然后再找很多个怨大头散户买进不就可以了？？在马来西亚上市骗取正容易，不骗白不骗

马来西亚股市可以投资吗？？