Eddy Khoo's comment on ESCERAM. All Comments

Eddy Khoo
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factory impairment? closing some manufacturing lines?
Eddy Khoo
impairment alone already 9.5 mil. depreciation and amortization 2.6 mil. all the profit gone due to these.
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Pek Pek Wong
But not all investors see dat way, only can hope tomolo hope no too much panic seller ..
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cheng
No signs of increased margins from building materials. Full fiscal year profit from building materials (>12M pbt) offset by losses/impairment from manufacturing (-11M) segment.
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William Yang
Overall revenue increased. Impairment is there but it make sense to sell I guess. Overall, pretty much the same except building materials increased a little
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sws lss
told u, noone care on this qty result. Smart accountant will do "clearing" in last quarter.
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sws lss
Cash in hand slightly improve. everything is paper loss. Next financial year will be interesting.
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Eddy Khoo
This counter is not much traded by retailers. panic sales would be limited as insiders and long term investors would not panic sell.
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cheng
both segment's revenue increased comparing to preceding quarter. Additional orders secured comparing preceding quarter and latest quarter contract liabilities. Mgmt quoted on the focus on improving margins and executing current orders on hands instead of getting more orders :)
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William Yang
This counter is still a glove counter. ;)
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JustMD90 SWY
Faster drop till 15 sen
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sws lss
it's time to steal chips
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William Yang
I suggest to hold first while wait for sign of improvement. NASDAQ got wiped out, invest there better
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cheng
Thank you Mr. Market for the quote and added some at 0.19. Still hoping to add at 0.175 if it is available.
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MOHD RAZIF BIN AZIZ
just now i has sold half of what i have..if going down will buy again..if going up, the profit of what is left will cover what i lost
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Nick Chung
long way to go for esceram, Cheng
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cheng
all is well, Nick. I can wait :) Started first small position at 0.195 four months ago and been waiting for bottom fishing at 0.175. Today is just 2nd small position at 0.19 :)
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Nick Chung
this stock is thematic to glove right .. if looking for 0.3 should take roughly 1-2 years
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cheng
glove formers / manufacturing is no longer the major segment :) Its the ready mixed concrete / building materials segment which is contributing 95% of the revenue for Esceram.
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cheng
the diversification to building materials seems to be a good decision at the moment. Profit guarantee for two cumulative fiscal years (FY23 and FY24) completed per the acquisition plan. Looking forward to Q1'25 after the impairment in Q4FY24 :)
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cheng
I have only two construction / building material stocks - esceram and TRC. Both were bought during rvix spikes :)
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cheng
Lol, no pun intended. there is no such thing as rvix. It was just my own playful term. and it requires lots of negative motherhood comments for it to spikes. after all, valuation does not matter until it matters most :)
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cheng
wait for the right time to trade, TN :) No rush and the upcoming rate cut in Sep will provide you with lots of opportunities to trade. Have faith in your own trading setups.
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Eddy Khoo
with the latest quarter results, it is confirmed that Evermix owners would receive their additional shares in August.
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Victor Yen
Just buy now and keep
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cheng
that's right, eddy. 32 cents per consideration share.
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William Yang
Game over?
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Eddy Khoo
what game over since the game never started?
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cheng
will it start marching towards q1fy25? waiting for bottom fishing opportunity.
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William Yang
Not sign of it. Just have to wait for the next QR.
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cheng
so near yet so far. unlikely to get 0.175 :(
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MOHD RAZIF BIN AZIZ
bila mau jatuh 0.15 ni...sudah x sabar mau borong
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cheng
wowo. mohd razif yakin sampai nak borong? Saya nak bottom fishing sikit2 kat 0.175 sebab q4'24 nampak manufacturing segment revenue dah naik sikit. mungkin dah sampai dasar.
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Eddy Khoo
will jatuh when new shares get issued this month.
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cheng
shares issued directly to Evermix owners. The new owners need to sell it for the price to go down; to create supply more than demand if you will.
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William Yang
They will keep it provided construction play still in it
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MOHD RAZIF BIN AZIZ
i just has played safe..when bad qr posted recentle i sold half of my current hold at 0.19, wait to fish at 0.16 or 0.15
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cheng
Logically unlikely to sell as a portion of the sales of Evermix to Esceram were covered by consideration shares with the value of 18M while 65M in cash. Selling below 32 cents a piece means Evermix owners will receive lower than 18M. Two tranches of payment in the form of consideration shares at 32 cents per share - (1) during completion of sales and purchase agreement (2) upon profit guarantee for 2 consecutive fiscal year ending 31 May 2024 (the recent released qtr report).
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Kelvin Low
Cheng你好啊 不好意思 我看你们的评论说关于Evermix的收购, 我想问一下这个新闻不是在2022年的事情了?
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cheng
hello kelvin, yes its back in 2022 and the total purchase consideration was 83M (65M cash + 18M in the form consideration shares at 32 cents per share). Of the 18M, it is split into two tranches - 7M upon sales and purchase agreement completion back in 2022 and another 11M will be issued upon meeting profit guarantee of min PAT of 11M cumulatively for FY23 and FY24.
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Kelvin Low
Cheng thanks for sharing! Because I thought everything is done by 2022 already, if like this esceram still can wait and see .
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cheng
you are welcome, kelvin
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William Yang
Everyone okay? Cheng got the price you wanted?
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Eddy Khoo
don't worry much. just have to sit tight and go through such turbulence in market cycle. best if have additional fund to acquire more cheap n good shares
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cheng
yes, william. thanks to Mr. Market and managed to get some at 0.17 instead of 0.175. still a relatively small positions if you will :)
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cheng
agreed, eddy
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Eddy Khoo
those construction and tech counters which have appreciated 150-200% for the past 2 years gonna be impacted much. counter such as Esceramic, didn't even appreciated would quick to recover back to its 0.2 soon. there s no extra fats to trim for this counter.
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MOHD RAZIF BIN AZIZ
borong....hahaha..park some unit first..maybe later down to 0.13 can buy more
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William Yang
Why go back to 0.2?
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JustMD90 SWY
Buy buy buy
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Alvin Au
everyone flying back and we stuck
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cheng
extracted from Hartalega's report: Despite these challenges, there are early signs of improving demand for rubber gloves, driven by a gradual recovery in sales orders as pandemic stockpiles diminish. Moreover, actions taken by key domestic producers to streamline capacity and the exit of new entrants have alleviated some of the oversupply pressures. Consequently, the Group continues to ramp up production capacity in anticipation of a more favourable demand environment.
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cheng
The U.S. will raise tariffs on Chinese medical and surgical gloves to 50%, from 7.5% currently, in January 2025 and to 100% by January 2026
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cheng
Inventories diminishes and upside demand anticipated due to tariffs starting Jan'25. This bodes well for manufacturing (formers) which is a high margin segment.
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Eddy Khoo
bear in mind that the former biz isnt primary beneficial of such tariff increase. it would take some months before the company would experience the positive effects. this was same during COVID when all the gloves counters increased but esceramic waited for 5 months before catching up.
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cheng
hopefully it's a worthwhile wait :)
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JustMD90 SWY
15 Sen ~~ cheap buy but still can go lower.. wait first
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jimmy zai
yes..0.085.....
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