【PWF 7134 交流专区】宾威 （前名 PW）

^flying^

大家对于賓威（PW, 7134, 主板消費品組）这家公司有何看法？
刚刚在最新的财报表公布2011年度上半年赚RM4.1mil（半年的EPS＝6.89sen）。
于现在的价位（41sen）买进是否有利可图？


Background
PW Consolidated Bhd., an investment holding company, engages in the broiler farming business in Malaysia. The company involves in the breeding of broilers, ducks, day-old chicks, and other livestock; manufacture and sale of broiler feeds; and trading of agricultural products. It also engages in the trading and processing of chickens and ducks; trading of tires, motor accessories, and spare parts; provision of servicing, maintenance, and repair activities for private and commercial vehicles; rearing and selling of cattle; and deals in veterinary products. In addition, PW Consolidated supplies poultry meat in fresh, chilled, or frozen forms to wet markets, fast food stores, restaurants, hotel eateries, supermarkets, and hypermarkets. The company was formerly known as PinWee Group Bhd. PW Consolidated Bhd. was incorporated in 1997 and is headquartered in Penang, Malaysia.

^flying^

而且它每股的NTA高达RM2.17。

sjz

balance sheet 有一些潜伏的问题.....

秀蓉

而且它每股的NTA高达RM2.17。
^flying^ 发表于 30-8-2011 01:12 AM

    NTA再多一倍越没有用，除非把旗下公司卖了套现金才会有看头。

edwinkan

balance sheet 有什么问题.....？

^flying^

balance sheet 有一些潜伏的问题.....
sjz 发表于 30-8-2011 09:22 AM

不妨讲出来听听

sjz

Cash & Cash Equivalents  RM2,298,000
Inventories  RM54,049,000
Total Current Asset RM83,737,000

Overdraft & Short Term Borrowings RM81,463,000
Total current liabilities  RM92,798,000
Total liabilities  RM117,449,000

1）看看以下的数目.....现金才2.3million，缺欠银行81.5million。。。
这是也个非常震撼的比例，而且那个81.5million不是long term borrowing，而是short term borrowing，就是近期内必须还清的欠款，所以有违约的风险。

2）inventories非常的高，高过现金大概有23倍吧。。代表有很多存货可能是卖不出还是deferment of contract 合约延迟导致存货的数目很大。

3）current assets少过total liabilities，非常非常不健康！代表把能够在短期内套现的东西买了，都不够去还欠款，还欠34++ million！

这间公司本来我也想过要投资，但是看了balance sheet 后，我100%不会买他的股票了。。
至于要买的人，就祝你们好运了噢。。

PS:不要看公司的NTA就决定这间公司的价值，NTA是可以骗人的，看看OILCORP的案例。
是啊！很多人在OILCORP亏了大部分资金。因为那时OILCORP的NTA是RM1.2x，而且交易价才三十多仙。。。

^flying^

回复 7# sjz

谢谢你的分析解说

icy97

SUMMARY OF KEY FINANCIAL INFORMATION

30/09/2011

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30/09/2011	30/09/2010	30/09/2011	30/09/2010
		$$'000	$$'000	$$'000	$$'000
1	Revenue	68,714	71,517	203,632	196,789
2	Profit/(loss) before tax	2,364	1,363	4,797	5,014
3	Profit/(loss) for the period	1,356	70	5,458	2,142
4	Profit/(loss) attributable to ordinary equity holders of the parent	1,356	70	5,458	2,142
5	Basic earnings/(loss) per share (Subunit)	3.30	1.15	9.16	6.05
6	Proposed/Declared dividend per share (Subunit)	4.00	0.00	4.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	2.1900		2.1000

icy97

Company Name	:	PW CONSOLIDATED BHD
Stock Name	:	PW
Date Announced	:	30/11/2011

Type	:	Announcement
Subject	:	OTHERS
Description	:	FIRST TAX EXEMPT INTERIM DIVIDEND OF 4 SEN PER SHARE
Announcement Details/Table Section : The Board of Directors of PW CONSOLIDATED BHD ("the Company") is pleased to announce that the Company has declared a first tax exempt interim dividend of 4 sen per share amounting to RM2,436,450-00 in respect of the financial year ending 31 December 2011. The dates of book closure and payment will be confirmed and announced at a later date. This announcement is dated 30th day of November 2011.

^flying^

开始发回的股息，4sen免税！！！

icy97

Company Name	:	PW CONSOLIDATED BHD
Stock Name	:	PW
Date Announced	:	01/12/2011

EX-date	:	13/12/2011
Entitlement date	:	15/12/2011
Entitlement time	:	05:00:00 PM
Entitlement subject	:	First Interim Dividend
Entitlement description	:	First Interim Dividend of 4 sen per ordinary share of RM1.00 each
Period of interest payment	:	to
Financial Year End	:	31/12/2011
Share transfer book & register of members will be	:	to closed from (both dates inclusive) for the purpose of determining the entitlements
Registrar's name ,address, telephone no	:	Symphony Share Registrars Sdn Bhd Level 6, Symphony House Block D13, Pusat Dagangan Dana 1 Jalna PJU 1A/46 47301 Petaling Jaya Selangor Tel No.: 603-7841 8000 Fax No.: 603-7841 8008
Payment date	:	29/12/2011
a. Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers	:	15/12/2011
b. Securities deposited into the Depositor's Securities Account before 12:30 pm in respect of securities exempted from mandatory deposit	:
c. Securities bought on the Exchange on a cum entitlement basis according to the Rules of the Exchange.
Number of new shares/securities issued (units) (If applicable)	:
Entitlement indicator	:	Currency
Currency	:	Malaysian Ringgit (MYR)
Entitlement in Currency	:	0.04

icy97

SUMMARY OF KEY FINANCIAL INFORMATION

31/12/2011

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31/12/2011	31/12/2010	31/12/2011	31/12/2010
		$$'000	$$'000	$$'000	$$'000
1	Revenue	63,774	69,798	265,167	262,506
2	Profit/(loss) before tax	-438	1,629	6,005	6,833
3	Profit/(loss) for the period	-892	-2,034	4,566	109
4	Profit/(loss) attributable to ordinary equity holders of the parent	-892	-2,034	4,566	163
5	Basic earnings/(loss) per share (Subunit)	-1.49	-3.40	7.64	0.27
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	4.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	2.1400		2.1000

icy97

SUMMARY OF KEY FINANCIAL INFORMATION

31/03/2012

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31/03/2012	31/03/2011	31/03/2012	31/03/2011
		$$'000	$$'000	$$'000	$$'000
1	Revenue	52,321	69,455	52,321	69,455
2	Profit/(loss) before tax	-2,536	2,523	-2,536	2,523
3	Profit/(loss) for the period	-2,756	2,079	-2,756	2,079
4	Profit/(loss) attributable to ordinary equity holders of the parent	-2,756	2,079	-2,756	2,079
5	Basic earnings/(loss) per share (Subunit)	-4.61	3.40	-4.61	3.40
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	2.0900		2.1400

icy97

SUMMARY OF KEY FINANCIAL INFORMATION 30/06/2012

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30/06/2012	30/06/2011	30/06/2012	30/06/2011
		$$'000	$$'000	$$'000	$$'000

1	Revenue	54,338	63,498	106,659	132,953
2	Profit/(loss) before tax	1,402	1,497	-1,134	4,020
3	Profit/(loss) for the period	1,143	2,021	-1,613	4,100
4	Profit/(loss) attributable to ordinary equity holders of the parent	1,143	2,021	-1,613	4,100
5	Basic earnings/(loss) per share (Subunit)	1.91	3.38	-2.70	6.86
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	2.1500		2.1800

icy97

SUMMARY OF KEY FINANCIAL INFORMATION 30/09/2012

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30/09/2012	30/09/2011	30/09/2012	30/09/2011
		$$'000	$$'000	$$'000	$$'000

1	Revenue	55,478	68,440	162,137	201,393
2	Profit/(loss) before tax	-2,982	2,423	-4,116	6,443
3	Profit/(loss) for the period	-3,336	1,358	-4,949	5,458
4	Profit/(loss) attributable to ordinary equity holders of the parent	-3,336	1,358	-4,949	5,458
5	Basic earnings/(loss) per share (Subunit)	-5.58	2.37	-8.20	7.40
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	2.1000		2.1800

icy97

SUMMARY OF KEY FINANCIAL INFORMATION 31/12/2012

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31/12/2012	31/12/2011	31/12/2012	31/12/2011
		$$'000	$$'000	$$'000	$$'000

1	Revenue	52,057	62,988	214,914	264,381
2	Profit/(loss) before tax	5,363	-481	1,247	5,962
3	Profit/(loss) for the period	5,138	-789	189	4,669
4	Profit/(loss) attributable to ordinary equity holders of the parent	5,138	-789	189	4,669
5	Basic earnings/(loss) per share (Subunit)	8.61	-1.19	0.32	7.81
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	3.6300		2.1800

icy97

PW CONSOLIDATED BHD

Type	Announcement
Subject	OTHERS
Description	VALUATION OF NON-CURRENT ASSETS INCORPORATED INTO FINANCIAL STATEMENTS OF THE COMPANY
The Board of Directors of PW CONSOLIDATED BHD ("the Company") is pleased to announce that pursuant to Paragraph 9.19(46) of the Main Market Listing Requirements, the Board had approved the incorporation of the revaluation surplus of RM89.8 million in the consolidated financial statements of the Company for the financial year ended 31 December 2012. This announcement is dated 28th day of February 2013

Attachments PW-RevaluationYE31Dec2012.pdf

Type	Announcement
Subject	OTHERS
Description	VALUATION OF NON-CURRENT ASSETS INCORPORATED INTO FINANCIAL STATEMENTS OF THE COMPANY
Further to our announcement dated 28 Februay 2013 in relation to valuation of non-current assets incorporated into the financial statements of the Company for the financial year ended 31 December 2012, please be informed that the valuation date of 1 December 2012 was inadvertently left out. This announcement is dated 1st day of March 2013

Attachments PW-RevaluationYE31Dec2012_1March2013_.pdf

icy97

SUMMARY OF KEY FINANCIAL INFORMATION 31/03/2013

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31/03/2013	31/03/2012	31/03/2013	31/03/2012
		$$'000	$$'000	$$'000	$$'000

1	Revenue	57,270	52,321	57,270	52,321
2	Profit/(loss) before tax	1,489	-2,536	1,489	-2,536
3	Profit/(loss) for the period	1,317	-2,756	1,317	-2,756
4	Profit/(loss) attributable to ordinary equity holders of the parent	1,698	-2,756	1,698	-2,756
5	Basic earnings/(loss) per share (Subunit)	2.21	-4.61	2.21	-4.61
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	3.4800		3.4500

icy97

SUMMARY OF KEY FINANCIAL INFORMATION 30/06/2013

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30/06/2013	30/06/2012	30/06/2013	30/06/2012
		$$'000	$$'000	$$'000	$$'000

1	Revenue	57,543	54,338	114,813	106,659
2	Profit/(loss) before tax	3,214	1,402	4,730	-1,134
3	Profit/(loss) for the period	1,731	1,143	3,048	-1,613
4	Profit/(loss) attributable to ordinary equity holders of the parent	1,731	1,143	3,048	-1,613
5	Basic earnings/(loss) per share (Subunit)	2.90	1.91	5.11	-2.70
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	3.5100		3.4500