*30-Apr-20*
*Stock on Radar - HLIB Retail Research*
*Trading Buy: ZHULIAN - 5131*
(Last price: RM1.02, Potential upside +25.0%)*

*Company Profile*
• ZHULIAN involved in MLM business with strong sales network in the Bumiputera community (makes up 90% of its members). Gold-plated jewellery is one of its core product lines and ZHULIAN has diversified to a comprehensive range of household, health and personal products. Also, ZHULIAN has ensured that its F&B and Nutritional Health products are fully HALAL certified.

*Trading Catalyst*
• The company currently is standing on a solid balance sheet with 41.5 sen net cash per share. Based on their track record over the years, ZHULIAN is very generous in rewarding shareholders (albeit flattish results over the past 5 years).
• Assuming they pay 9.5-10 sen dividend (should we discount 20% from FY19’s DPS amid Covid-19 episode), it will translate to c.10% DY.

*Technical View*
• Resistance: RM1.09 / RM1.13 / RM1.25
• Support: RM0.97 / RM0.96
• Cut loss: RM0.94

*Key Financial Stats*
• Net cash per share: 41.5sen

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