【SEAL 4286 交流专区】东南亚木材

kongsenger

希爾兩大計劃成發展重點(发光的宝石)--
公司的盈利透明度，主要來自其巴生河流域首項產業發展計劃蕉賴Queenville，
發展總值達8億令吉，包括購物中心、49單位的3層店屋、3座的套房單位，
以及5座的服務公寓。預料可供未來5至7年發展。
檳城Bayan C i t  y2為該公司另一項主要產業計劃，發展總值為10億令吉，
包括酒店、購物中心、商業中心、辦公室以及套房單位。

Q1+Q2+Q3=3个季节赚了(6690万),EPS=31 SEN (Q4还未算入哦)
NTA=RM 1.16
现RM 1.28 只是在PE=4.1 倍交易,明显被诋估了,
合理的PE=7  ,目标价=RM2.17
估计Q4的EPS=4SEN,全年EPS=35SEN算,只是用PE=5
股价=Rm1.75 (是不是很有吸引力.),若pe=7(股价=rm2.45)
SEAL为净现金公司,美丽的前景己看到.

个人整理与推算,进岀自负.
最新公司的基本资料与网站--
http://www.malaysiastock.biz/Cor ... p;securityCode=4286

kongsenger

Seal sheds messy past
Published: Saturday April 5, 2014 MYT
http://www.thestar.com.my/Business/Business-News/2014/04/05/Firm-sheds-old-image/

WITH a host of legacy issues behind it, Seal Inc Bhd, which has its roots in the timber business, looks ready to make a clean break from the past.
Formerly known as Southeast Asia Lumber, the low-profile, Penang-based firm now earns most of its money from property development.

The Main Market-listed Seal is still lumped under the “industrial products” category on the stock exchange, which its management is in no hurry to change.

“Bursa Malaysia has asked us to update our classification, but we said hold on. At the end of the day, the bottom line is more important,” Seal CEO Chuah Chong Ewe tells StarBizWeek.

Little is known about how ownership of Seal changed hands a decade ago, after the previous owner lost control to the current major shareholders.
Seal had also garnered a dubious reputation circa 2004-2005 for being a played-up stock. Past reports indicate that Seal was a “casualty” of unusual trading activities in May 2005, which the company was at a loss to explain.

Its shares had plunged 79% in three days, wiping out RM174mil from its market value. It didn’t help that Seal had RM200mil in accumulated losses and liabilities that exceeded its assets.

In June the same year three Penang-based individuals emerged as substantial shareholders in the company, scooping up a combined 20% following a sharp drop in its share price.

One Tan Lam San obtained the bulk of the shares (8.6%), with the rest going to Fang Siew Poh (5.5%) and Koay Teng Choon (5.1%). Tan had ceased to be a substantial shareholder in 2006, but Fang and Koay have stayed on.

Bursa filings show that Fang, the sister of executive director Doris Fang, currently owns a direct and deemed interest of 19.41% in Seal. Koay, who also sits on the board, has increased his stake to 10.35%.

Under the new management led by Chuah, Seal went through a restructuring that saw it hive off Selayang Mall and land in Seberang Prai to pare down its debts to RM5mil from RM80mil.

Its timber operations were also scaled down tremendously.

“When we took over the company, we could see that timber was a sunset industry. Manufacturing is burdensome – you end up with a lot of paper profit, but it’s stuck in stocks and machinery,” explains Chuah, a corporate lawyer by trade.

Seal had disposed of one of its key timber units, Great Eastern Mills, to a third party several years ago.

“We inherited it, but all it had was lots of debt. And timber concessions with good yield in Kelantan were hard to come by,” Chuah quips.

Great Eastern Mills was eventually sold to a Kelantanese businessman. However, Seal is adamant that it will not exit its remaining timber operations.
The group holds concessions for over 5,500 acres of forest in Perak and 7,000 acres in Kedah, which it has begun logging.

Its timber business was loss-making in the 2013 financial year to the tune of RM5mil, mainly due to non-recurring write-offs and a settlement with trade unions, Doris explains.

Despite making hefty provisions, Seal’s timber arm raked in an operating profit of RM2.3mil.

Perhaps due to its size, Seal is easy to miss as a stock.

It has a share base of only 215.63 million shares, and an even smaller market capitalisation of RM138mil, based on Thursday’s closing price of 64 sen, which is near its best level in two years.

Its free float stands at 63.5%, or 136.8 million shares, Bloomberg data shows. The counter has traded between a one-year peak and trough of 66 sen of 40 sen.

At its current price, Seal is valued at six times earnings and only 0.8 times book. The company has not paid dividends since at least 1991, according to Bloomberg.

For a small cap counter, liquidity is decent at a 30-day average volume of 1.59 million shares. Even without the coverage of analysts, Seal has returned 52.4% over the past one year.

In terms of earnings, the group’s top line grew at a five-year compounded annual growth rate up to 2013 of 36.6% and net profit by 15.5%, although net margins have noticeably slipped from a high of 24.8% in 2009 to 10.7% last year.

For his part, Chuah concedes that Seal has fallen out of favour with some investors, especially those who had had their fingers burnt.

“The market still thinks we are PN17, even though we were never PN17 in the first place. The investing public might not have had the patience to understand what was going on with the restructuring,” he quips.

But that doesn’t seem to give him sleepless nights.

“Being from Penang we live life simply. We wear slippers and cut deals in coffee shops. Maybe life has to change,” he muses.

APULA

kongsenger 发表于 11-7-2014 04:53 PM
rm 1.28 加码,我是这么觉得,净现金,等房产净利润一一进来,股价到rm2.00不是问题,我收货了

看來你已进了很多哦。。。。。

kongsenger

APULA 发表于 13-7-2014 11:08 PM
看來你已进了很多哦。。。。。

Seal4286 Q1+Q2+Q3=3个季节赚了(6690万),EPS=31 SEN (Q4还未算入哦)
NTA=RM 1.16
现RM 1.32 只是在PE=4.25 倍交易,明显被诋估了,
合理的PE=7 ,目标价=RM2.17
估计Q4的EPS=4SEN,全年EPS=35SEN算,只是用PE=5
股价=Rm1.75 (是不是很有吸引力.),若pe=7(股价=rm2.45)
SEAL为净现金公司,有马币1.41亿(约相等每股65sen),
有投行Rhb,maybank的推荐与参与,价位更易上升.
从20/6/14开始上升,至今仍然保持良好的势头,逢低进场,
公司roe=22,很好的增长,目前要找支价值好且价位低的股票不客易,
seal是我看到的其中一支增值股.

TYT

跌回1.32

icy97

希爾可否趁低買進拉平成本？

2014-08-24 19:20      

讀者陳奕光問：
上個月，本人經朋友介紹以每股1令吉47仙買了1萬股的希爾集團（SEAL，4286，主板工業產品組）。據說該公司截至2014年3月31日為止9個月的每股盈利已達31仙。對我而言，這是很可觀的業績，可是買了以後，股價已跌至目前的1令吉36仙。請問該公司財政／業績如何？是否可以再買些來把平均價位拉低？

答：
希爾集團於2014年5月30日宣佈最新截至2014年3月31日為止第三季的業績，取得淨利5千359萬9千令吉（每股24.84仙），前期為890萬9千令吉（每股淨利4.13仙）。而營業額也增加至1億5千789萬7千令吉，前期為5千953萬5千令吉。

截至2014年3月31日為止首9個月，該公司淨利為6千690萬8千令吉（每股淨利為31仙），前期淨利為1千827萬7千令吉（每股淨利為8.46仙）。首9個月營業額為2億7千888萬5千令吉，前期為1億4千零10萬5千令吉。

該公司的每股資產值為1令吉16仙。

看看該公司宣佈上述業績時所披露的一些數據，包括總資產達4億2千974萬令吉，其中在銀行的定存為1億零910萬6千令吉與現金及銀行余款為452萬6千令吉。

重組至今
淨現金1.4億

興業研究在2014年6月11日在一項報告中指出，希爾集團經過多年系列重組，資產負債表已經清理。目前該公司旗下的兩大計劃，即蕉賴的Queenville計劃及檳城的Bayan City2計劃，料將是未來主要發展重點。

希爾集團自2005年進行系列重組計劃後，截至今年3月杪擁有淨現金1億4千180萬令吉，或每股65仙。比較截至2006年財政年的淨負債為7千920萬令吉。

2計劃成發展重點

該公司的盈利透明度，主要來自其巴生河流域首項產業發展計劃蕉賴Queenville，發展總值達8億令吉，包括購物中心、49單位的3層店屋、3座的套房單位及5座的服務公寓，預料可供未來5至7年發展。

檳城Bayan City 2為該公司另一項主要產業計劃，發展總值為10億令吉，包括酒店、購物中心、商業中心、辦公室及套房單位。該行預測其2014年財政年核心淨利為5千570萬令吉。若以其2014年財政年股價／賬面比1.0倍為准，該公司未來12個月的合理價為1令吉16仙。

若以上述預測合理價為准，你以1令吉47仙進場，實是買貴了，而且是在接近多年高峰中買進。至於要不要買進平均進場股價，上述一點資料供參考。（星洲日報／投資致富‧投資問診‧文：李文龍）

APULA

Financial year end net profit 119.276 million (increased 242.96%)

SUMMARY OF KEY FINANCIAL INFORMATION 30/06/2014

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30/06/2014	30/06/2013	30/06/2014	30/06/2013
		$$'000	$$'000	$$'000	$$'000

1	Revenue	10,044	43,195	287,047	183,300
2	Profit/(loss) before tax	-2,487	9,218	164,638	52,814
3	Profit/(loss) for the period	-6,362	3,732	119,276	34,778
4	Profit/(loss) attributable to ordinary equity holders of the parent	-5,276	1,303	61,632	19,581
5	Basic earnings/(loss) per share (Subunit)	-2.44	0.60	28.56	9.07
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 ($$)	1.1400		0.8500

娟娟3003

APULA 发表于 27-8-2014 10:43 PM
Financial year end net profit 119.276 million (increased 242.96%)

这次出的业绩亏钱的哦！你是在哪里看到Net profit 有那么多的？

icy97

东南亚木材CEO辞职

财经新闻 财经  2014-10-11 12:31
（吉隆坡10日讯）东南亚木材（SEAL，4286，主板工业产品股）总执行长蔡忠瑞（译音）以个人理由辞职，即日生效。

现年47岁的蔡忠瑞是该公司执行董事蔡崇文（译音）的弟弟，毕业于马大法律系。【南洋网财经】

Date of change	09/10/2014
Name	Chuah Chong Ewe
Age	47
Nationality	Malaysian
Designation	Chief Executive Officer
Type of change	Resignation
Reason	Personal reason - to pursue his other interests.
Details of any disagreement that he/she has with the Board of Directors	No
Whether there are any matters that need to be brought to the attention of the shareholders	No
Qualifications	LLB (Hons) University of Malaya
Working experience and occupation	He was admitted to the Malaysian Bar Council on 26 February 1993 and with his more than 21 years experience in legal practice, he is well versed in corporate, conveyancing and litigation matters. He comes with a vast experience in terms of practical knowledge and well-rounded exposure in all aspects of corporate, business and property development.
Directorship of public companies (if any)
Family relationship with any director and/or major shareholder of the listed issuer	He is the brother of the Executive Director, Mr. Chuah Chong Boon.
Any conflict of interests that he/she has with the listed issuer or its subsidiaries	No
Details of any interest in the securities of the listed issuer or its subsidiaries	Direct interest - 1,105,000 ordinary shares in the Company Deemed interest - 40,000,000 ordinary shares in the Company

icy97

Type	Announcement
Subject	OTHERS
Description	Fourth Supplemental Lease Annexure for a piece of leasehold land held under PM11660, Lot 38451, Mukim Batu, District of Gombak, Bandar Selayang, State of Selangor measuring approximately 174,941 square feet in area together with all the buildings/structures erected thereon known as "Selayang Mall Shopping Complex" ("Fourth Supplemental Lease Annexure")
We refer to the announcement dated 23 December 2005, 17 January 2006, 24 November 2006, 6 January 2009, 23 April 2010 and 19 November 2012 in relation to the sale and leaseback of Selayang Mall Shopping Complex ("Selayang Mall") with Amanah Raya Berhad ("ARB"). Please refer to the attached file for the full text of the announcement.    This announcement is dated 16 October 2014 http://www.bursamalaysia.com/market/listed-companies/company-announcements/1768277

Attachments SEAL-FOURTH SUPPLEMENAL LEASE.doc

APULA

Notice of Interest Sub. S-hldr (29A)

SEAL INCORPORATED BERHAD

Particulars of Substantial Securities Holder

Name	FANG PERN KOK
Address	8 Jalan Adams 10450 Penang
NRIC/Passport No/Company No.	520402-07-5283
Nationality/Country of incorporation	Malaysian
Descriptions (Class & nominal value)	Ordinary shares of RM0.40each
Name & address of registered holder	Fang Siew Poh 8 Jalan Adams, 10450 Penang Fang Siew Ling 8 Jalan Adams, 10450 Penang Kesan Anggun Sdn Bhd 16 Persiaran Sungai Ara 3 11900 Penang HDM Nominees (Tempatan) Sdn Bhd HDM Capital Sdn Bhd for Kesan Anggun Sdn Bhd Levels 2, 3, 4, 7 & 8 Wisma Sri Pinang 60 Green Hall 10200 Georgetown, Penang

Date interest acquired & no of securities acquired
Currency	Malaysian Ringgit (MYR)
Date interest acquired	03/10/2014
No of securities	45,889,400
Circumstances by reason of which Securities Holder has interest	Deemed Interested Via my daughters' interests
Nature of interest	Deemed Interest
Price Transacted ($$)	0.000
Total no of securities after change
Direct (units)	0
Direct (%)	0
Indirect/deemed interest (units)	45,889,400
Indirect/deemed interest (%)	21.28
Date of notice	06/10/2014

icy97

Date of change	24/11/2014
Name	KOAY TENG CHOON
Age	51
Nationality	MALAYSIAN
Type of change	Redesignation
Previous Position	Non-Executive Director
New Position	Executive Director
Directorate	Executive
Qualifications	Form Five.
Working experience and occupation	1999 - Present Managing Director of First Tycoon Enterprise (M) Sdn Bhd and Syarikat Agensi Pekerjaan ACE Recruit Sdn Bhd
Directorship of public companies (if any)	nil
Family relationship with any director and/or major shareholder of the listed issuer	nil
Any conflict of interests that he/she has with the listed issuer	nil
Details of any interest in the securities of the listed issuer or its subsidiaries	Direct interest - 17,462,000 ordinary shares in Seal Incorporated Berhad. Deemed interest - 4,867,100 ordinary shares in Seal Incorporated Berhad

Date of change	24/11/2014
Name	CHUAH CHONG BOON
Age	53
Nationality	MALAYSIAN
Type of change	Retirement
Designation	Executive Director
Directorate	Executive
Qualifications	Master Degree in Business Administration from Herriot-Watt University, United Kingdom.
Working experience and occupation	He began his career in the banking industry as Credit Controller in Public Bank Group from 1983 to 1987 and had good exposure in Corporate Banking Division in Arab-Malaysian Banking Group from 1988 to 1996. After he left the banking industry, he joined the development industry as General Manager of Cherating Group in year 1996 and as Executive Director of Tenco Management Sdn. Bhd. in year 1997. He joined Pintas Nitmat Sdn. Bhd. as an advisor from 1998 to 1999 and as General Manager of Antah Holdings Berhad from 2000 to 2002. He then became General Manager of Naga Sakti Sdn. Bhd. from 2003 to 2006. He also sits on the Board of the Company's subsidiary, Great Eastern Mills Berhad, several other subsidiaries and other private companies.
Directorship of public companies (if any)	nil
Family relationship with any director and/or major shareholder of the listed issuer	He is the brother of Mr Chuah Chong Ewe, a substantial shareholder of the Company

icy97

SUMMARY OF KEY FINANCIAL INFORMATION 30/09/2014

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30/09/2014	30/09/2013	30/09/2014	30/09/2013
		$$'000	$$'000	$$'000	$$'000

1	Revenue	6,218	56,915	6,218	56,915
2	Profit/(loss) before tax	333	21,437	333	21,437
3	Profit/(loss) for the period	41	12,921	41	12,921
4	Profit/(loss) attributable to ordinary equity holders of the parent	234	6,138	234	6,138
5	Basic earnings/(loss) per share (Subunit)	0.11	2.84	0.11	2.84
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 ($$)	1.1300		1.1300

icy97

icy97 发表于 29-6-2014 01:45 AM
东南亚木材1861万买地

财经 2014年6月28日

Type	Announcement
Subject	TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS
Description	PROPOSED ACQUISITION OF PROPERTY BY SEAL PROPERTIES SDN. BHD., A WHOLLY-OWNED SUBSIDIARY OF SEAL INCORPORATED BERHAD ("SEAL" OR "THE COMPANY") FROM ASCALL SDN. BHD. FOR A TOTAL CONSIDERATION OF RM18,619,437.30 ("PROPOSED ACQUISITION")
We refer to our announcements dated 27 June 2014, 23 September 2014, 8 October 2014 and 24 October 2014. On behalf of the Board of Directors of SEAL, we wish to announce that the Conditions Precedents in the Sale and Purchase Agreement dated 27 June 2014 have been fulfilled. The Proposed Acquisition will be completed upon payment of the balance purchase price. This announcement dated 28 November 2014.

icy97

icy97 发表于 29-6-2014 01:45 AM
东南亚木材1861万买地

财经 2014年6月28日

Type	Announcement
Subject	TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS
Description	PROPOSED ACQUISITION OF PROPERTY BY SEAL PROPERTIES SDN. BHD., A WHOLLY-OWNED SUBSIDIARY OF SEAL INCORPORATED BERHAD ("SEAL" OR "THE COMPANY") FROM ASCALL SDN. BHD.
We refer to our announcements dated 27 June 2014, 23 September 2014, 8 October 2014, 24 October 2014 and 28 November 2014. On behalf of the Board of Directors of SEAL, we wish to announce that the Balance Purchase Price was paid on 6 February 2015, marking the completion of the Proposed Acquisition. This announcement is dated 6 February 2015.

icy97

SUMMARY OF KEY FINANCIAL INFORMATION 31/12/2014

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31/12/2014	31/12/2013	31/12/2014	31/12/2013
		$$'000	$$'000	$$'000	$$'000

1	Revenue	5,919	64,073	12,137	120,988
2	Profit/(loss) before tax	1,408	28,349	1,741	49,786
3	Profit/(loss) for the period	828	22,405	869	35,326
4	Profit/(loss) attributable to ordinary equity holders of the parent	1,013	7,171	1,247	13,309
5	Basic earnings/(loss) per share (Subunit)	0.47	3.32	0.58	6.17
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 ($$)	1.1400		1.1300

icy97

Name	Koay Teng Choon
Address	18-09-3A, Medan Lumba Kuda 10450 Georgetown, Penang
NRIC/Passport No/Company No.	630620-07-5035
Nationality/Country of incorporation	Malaysian
Descriptions (Class & nominal value)	Ordinary Shares of RM0.40 each
Name & address of registered holder	Koay Teng Choon

Details of changes

Currency: Malaysian Ringgit (MYR)

Type of transaction	Date of change	No of securities	Price Transacted (RM)
Acquired	13/03/2015	4,432,200	0.000

Circumstances by reason of which change has occurred	Off Market Acquisition
Nature of interest	Direct Interest
Direct (units)	21,894,200
Direct (%)	10.16
Indirect/deemed interest (units)	4,867,100
Indirect/deemed interest (%)	2.26
Total no of securities after change	26,761,300
Date of notice	13/03/2015

icy97

Name	Kesan Anggun Sdn. Bhd.
Address	16, Persiaran Sungai Ara 3, 11900 Penang.
NRIC/Passport No/Company No.	647552-X
Nationality/Country of incorporation	Malaysia
Descriptions (Class & nominal value)	Ordinary Shares of RM0.40 each
Name & address of registered holder	Kesan Anggun Sdn. Bhd. 16, Persiaran Sungai Ara 3, 11900 Penang.

Details of changes

Currency: Malaysian Ringgit (MYR)

Type of transaction	Date of change	No of securities	Price Transacted (RM)
Disposed	09/04/2015	6,000,000

Circumstances by reason of which change has occurred	Off market disposal.
Nature of interest	Direct interest.
Direct (units)	34,000,000
Direct (%)	15.77
Indirect/deemed interest (units)
Indirect/deemed interest (%)
Total no of securities after change	34,000,000
Date of notice	13/04/2015

icy97

Name	Poly Dynamic Motion Sdn. Bhd.
Address	1st Floor, B2 & B3, Jalan Bakar Arang, 08000 Sungai Petani, Kedah.
NRIC/Passport No/Company No.	704466-V
Nationality/Country of incorporation	Malaysia
Descriptions (Class & nominal value)	Ordinary Shares of RM0.40 each
Name & address of registered holder	1. Poly Dynamic Motion Sdn. Bhd. 1st Floor, B2 & B3, Jalan Bakar Arang, 08000 Sungai Petani, Kedah. 2. Kesan Anggun Sdn. Bhd. 16, Persiaran Sungai Ara 3, 11900 Penang. 3. HDM Nominees (Tempatan) Sdn. Bhd. HDM Capital Sdn. Bhd. for Kesan Anggun Sdn. Bhd. Level 2,3,4,7 & 8, Wisma Sri Pinang, 60 Green Hall, 10200 Georgetown, Penang.

Details of changes

Currency: Malaysian Ringgit (MYR)

Type of transaction	Date of change	No of securities	Price Transacted (RM)
Acquired	09/04/2015	6,000,000

Circumstances by reason of which change has occurred	Off market acquisition.
Nature of interest	Direct interest.
Direct (units)	6,000,000
Direct (%)	2.78
Indirect/deemed interest (units)	34,000,000
Indirect/deemed interest (%)	15.77
Total no of securities after change	40,000,000
Date of notice	10/04/2015

icy97

SEAL INCORPORATED BERHAD

Particulars of substantial Securities Holder

Name	KESAN ANGGUN SDN. BHD.
Address	16, Persiaran Sungai Ara 3 11900 Pulau Pinang Malaysia.
NRIC/Passport No/Company No.	647552-X
Nationality/Country of incorporation	Malaysia
Descriptions (Class & nominal value)	Ordinary shares of RM0.40 each.
Name & address of registered holder	Kesan Anggun Sdn. Bhd.16 Persiaran Sungai Ara 311900 Penang.

Details of changes

Currency: Malaysian Ringgit (MYR)

Type of transaction	Date of change	No of securities	Price Transacted (RM)
Disposed	16 Apr 2015	7,000,000

Circumstances by reason of which change has occurred	Off market disposal
Nature of interest	Direct interest.
Direct (units)	27,000,000
Direct (%)	12.524
Indirect/deemed interest (units)
Indirect/deemed interest (%)
Total no of securities after change	27,000,000
Date of notice	20 Apr 2015