【TEOSENG 7252 交流专区】潮成集团

千叮糖

我在一块时候买进，卖掉了，赚了一点。农业股现在真的可比喻为黄金股。
只是奇怪layhong和ql鸡蛋业务都是亏损的
为什么teoseng是大赚的？

哭哭鸟

The eggs are not always golden
Saturday, 4 April 2015
http://www.thestar.com.my/Business/Business-News/2015/04/04/The-eggs-are-not-always-golden/?style=biz

BY: NG BEI SHAN

Investors need to know the intricacies of the poultry business in order to make a success of it.

ONE of the reasons some long-term investors would shy away from poultry stocks is the cyclical nature of the business.

The key factors needed to thrive in this cutthroat business are cost and production efficiency, volume and cashflow.

As one player put simply, “supply and demand affect average selling prices”.

While the statement may sound over simplistic, the factors affecting supply and demand in the poultry business can be intricate.  

First of all, the players are dealing with livestock. The chickens’ living environment like temperature, cleanliness and food will influence their productivity.  

“We are not like goods manufacturers whereby the number of items we produce are predictable.

“Without experience and quality control, it is difficult to produce at the optimal capacity,” he says.   

One of the wildcards, such as an outbreak, can wipe out a farm.

Not just that, whenever there is a disease, consumers will shy away from the livestock and the plunge in demand could be a double-whammy for poultry farmers. \

Over the years, the hygiene standards of farms have improved and chickens are now reared in enclosed farms, reducing risks of diseases transmitted from wild birds, the player explains.  

Demand is also affected by festivity. During Chinese New Year, average farm prices for live chicken increased by 18% in February compared to January.

But based on the quarter ended December 31, 2014, only a handful of companies are able to deliver profits.

A number of them suffered due to lower average selling prices of chicken in the third quarter of 2014.

Huat Lai Resources Bhd made a loss of RM9.59mil, CAB Cakaran Corp Bhd lost RM3.24mil and DBE Gurney Resources Bhd lost RM5.12mil when they announced their latest quarterly results.  

On the other hand, egg sellers have enjoyed a good profit because of improved selling prices coupled with low commodity prices.  



Gainers for the quarter ended December 31, 2014 are Teo Seng Capital Bhd (RM17.97mil), Lay Hong Bhd (RM6.3mil) and LTKM Bhd (RM7.92mil).

One analyst points out that it is more important to look at whether their margins are sustainable rather than short-term financial numbers.

“It is hard to find a poultry stock that is profitable every quarter. It is more important to look at the bigger picture such as their strategic plans.”

That said, what separates a well-run company from one that’s less is how it manages its operations and balance sheet.   

“It’s a volume game, so it boils down to our cost,” one player quips.

An industry player notes that 45% of the broilers in the market are supplied by small farmers while 72% of eggs in the market are supplied by small farmers.

Take Teo Seng Capital Bhd as an example, being part of the much bigger Leong Hup Group enables it to purchase raw feed material in bulk and hence the bargain power for lower prices. Because of that, it enjoys net margins in the teens, which is considered impressive for the sector.  

In an interview with StarBizWeek previously, Leong Hup’s head honcho Tan Sri Francis Lau Tuang Nguang said the group buys 1.6 to two million tonnes of raw material for fee stock per year. At that volume, a discount of 2% to 3% will save it a lot of money.  

Meanwhile, some players see it as a cashflow game.

“Our turnover is more important than profit. We have to grow bigger to be in the competition,” says another player.

Some players in the industry have higher gearing but they continue to stay in the game as they buy up their smaller competitors.

Because of that, they may have to trade off their margins for the acquisitions as the synergy could only come in later.

On that, an analyst comments: “It is important to be a big player in the market but making profit is even more important.”

However, each company has a different strategy to expand.

Another analyst reckons that as long as the company has a strong balance sheet to absorb the fluctuation in margins, it should be able to return to profitability quickly.   

Poultry companies are sensitive to prices in soybean and corn - the main raw material for feedstock. In a year, soybean declined 33% and corn decreased 23%.

The drop in commodity prices offset the weaker ringgit, which softened by 12% compared to the US dollar.  

A player says the higher costs in feedstock are usually passed down to consumers because chicken and egg are basic items.  

“No one can predict the currency so we don’t see the reason to hedge,” he adds.  

It takes about three months to see the changes in the costs of raw material because that’s the time needed for corn and soybean to be shipped from America to Malaysia, explains the player.

To mitigate the volatile earnings, most poultry players have supplementary businesses to bolster their core earnings.  

Some of them manufacture packaging for their products and sell animal health products.

To reduce cost, most of them adopt the integrated livestock farm concept.

Others move downstream to sell processed food that offers better margins.   

In some cases, they venture into retail stores or even property development.

Recently, CAB Cakaran signed an agreement with Japan’s New Chemical Trading Co Ltd and Seri Kedah Corp Sdn Bhd to provide biomass energy from chicken waste.

The new business is expected to generate 10% of CAB Cakaran’s topline in two years.

“The business of chicken and egg is considered recession-proof so investors should not avoid the sector altogether,” says an analyst.

icy97

冀日产520万鸡蛋 潮成5年资本开销2亿

财经新闻 财经  2015-04-22 09:33
（吉隆坡21日讯）潮成集团（TEOSENG，7252，主板消费产品股）预计在未来4至5年内，拨出2亿令吉资本开销，提高鸡蛋的每日产量62.5%至520万个。

潮成集团非执行董事刘团源表示，目前每日产320万个鸡蛋，系统升级后，便可提高至每日520万个。

该集团也期望在未来4年内，从现有6.5%的市场份额，提高至10%。

刘团源指出，目前大马鸡蛋消费约一天3650万个，预计在今年会增加3至5%。

潮成集团为我国第三大鸡蛋生产商，核心业务为家禽养殖，生产鸡蛋、纸皮托盘和动物饲料，也分销动物健康食品。

目前，沼气发电厂将会成为潮成集团新企业，工厂将利用发出沼气的鸡粪来生产电能。

刘团源表示，集团预计在未来5年内打造5座工厂，每座工厂预计投入600至800万令吉。

“第一座沼气发电厂预计今年落成，明年投入生产。”

他也表示，一旦工厂投入生产，将为集团节省高达200万令吉的电力开销，或参与大马永续能源发展局的电力回购计划（FiT）。

“不过，参与计划的前提是，发电厂设在国家能源公司附近。”【南洋网财经】

icy97

潮成集团斥2640万买公司扩狮城业务

二零一五年四月二十五日 晚上八时十七分
（吉隆坡25日讯）潮成集团有限公司（TEOSENG，7252，消费产品组）独资子公司Premium Egg Products私人有限公司，将斥资980万新元（2640万令吉）现金，收购BH Fresh Food私人有限公司的全部股份，后者在新加坡拥有一座附有冷冻、冷藏与冷却室的工厂。

在致给大马交易所的文件中，潮成集团表示，这家蒙受亏损的公司，涉及生产、加工、保藏与批发肉品与相关产品。它目前利用上述新加坡工厂作为中央厨房，以生产已处理食材供应酒店与餐馆以及其Mmmm！专门店连锁的零售。

Premium Egg Products已与数名卖方签署有条件买卖协议，以收购他们各自所持的BH Fresh Food股权。

Premium Egg Products也与卖方签署一份有条件协议，以脱售BH Fresh Food的部分业务与资产，予L M肉品私人有限公司，成交价为180万新元（485万令吉）现金。

潮成集团称，建议中收购与脱售附带的条件是必须同时完成。上述计划预料将在截至2015年12月31日止财政年度期间落实。

“收购上述产业，是为了进一步扩充在新加坡的商业经营。”

它补充，收购BH Fresh Food的代价，将获由建议中脱售筹得的资金局部抵消。而余额则将透过内部基金和银行借贷融资。

潮成集团表示，上述行动符合集团扩充其海外行销网络和客户基础的计划。它已进军新加坡市场长达10年。

“上述交易容许该集团透过收购上述产业作为分销中心，扩充其商业经营，以迎合潮成集团产品在新加坡的需求增长。该集团有意专注于其新加坡的核心业务，包括新鲜鸡蛋的贸易与分销。”【光华日报财经】

Type	Announcement
Subject	TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS
Description	TEO SENG CAPITAL BERHAD ("TEO SENG"  OR" COMPANY")(A)        PROPOSED ACQUISITION ; AND(B)  PROPOSED DISPOSAL
The Board of Directors of Teo Seng (“Board”) wishes to announce that Premium Egg Products Pte Ltd ("PEPP"), a wholly-owned subsidiary of Teo Seng, had today entered into:- a conditional sale and purchase agreement (“SPA”) with Oceantrade Foods Pte Ltd, Loi Teck Heng (“LTH”), Low Sook Cheng and Lee Yee Gee (collectively known as “Vendors”) to acquire 1,400,000 ordinary shares in BH Fresh Food Pte Ltd (“BHFF”), representing 100% of the equity interest in BHFF (“Sale Shares”) from the Vendors for a total cash consideration of SGD9.80 million (equivalent to approximately RM26.40 million) (“Purchase Consideration”) ("Proposed Acquisition") ; and a conditional agreement to dispose off the business and certain assets of BHFF, on an “as is where is” basis, to L M Meat Pte Ltd  (“Disposal Agreement”) for a cash consideration of SGD1.8 million (equivalent to approximately RM4.85 million) (“Disposal Consideration”) ("Proposed Disposal") .The list of the disposal assets is set out in Section 3.1 of this announcement. The Proposed Acquisition and Proposed Disposal (collectively referrred to as "Proposals")  are inter-conditional upon each other and shall be completed concurrently. Accordingly, the Proposals essentially involve the acquisition by the Teo Seng Group, via PEPP, of the Property (as defined in Section 2.1 below) to further expand its business operations in Singapore as the business and certain assets of BHFF which amongst others, are acquired pursuant to the Proposed Acquisition will be disposed pursuant to the Proposed Disposal. Please refer to the attachment for the further details of the Proposals. This announcement is dated 24 April 2015. http://www.bursamalaysia.com/market/listed-companies/company-announcements/4717401

Attachments TSC-Announcement.pdf

icy97

SUMMARY OF KEY FINANCIAL INFORMATION 31 Mar 2015

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31 Mar 2015	31 Mar 2014	31 Mar 2015	31 Mar 2014
		$$'000	$$'000	$$'000	$$'000

1	Revenue	112,590	87,041	112,590	87,041
2	Profit/(loss) before tax	23,844	13,553	23,844	13,553
3	Profit/(loss) for the period	17,617	10,410	17,617	10,410
4	Profit/(loss) attributable to ordinary equity holders of the parent	17,490	10,271	17,490	10,271
5	Basic earnings/(loss) per share (Subunit)	6.53	5.14	6.53	5.14
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 ($$)	0.5900		0.7900

哭哭鸟

潮成集团迈向RM1.98
股市 多空一线  2015-05-19 10:43
http://www.nanyang.com/node/701557?tid=704

周一，马股富时隆综指继续处于技术反弹走势，期间的交投活动处于反弹走势，于1820点水平线上，取得应有的技术支撑。

富时隆综指于5月18日，处于1823点报收。富时隆综指30只成分股，处于技术反弹走势。上升股项为459只，而下跌股项为348只。

潮成集团（TEOSENG，7252，主板消费产品股）于5月18日闭市时反弹了。它于闭市时收1.87令吉，按日涨6仙或3.31%。

潮成集团的日线图表走势，于5月18日的交投趋势，上破一道短线顶头阻力线（B1:B2）上报收。

它的日线平滑异同移动均线指标 (MACD) ，于2015年5月18日的交投走势，已处于一段反转趋势。

它处于“0”支撑线上波动，潮成集团后市的交投走势，料会出现一段回试下限支持线的支撑。

潮成集团的日线图表走势于回试后，或会显现一段反弹走势，或会上挑1.88至1.98令吉的阻力位。



免责声明：本文纯属技术面分析，仅供参考，并非推荐购买。投资前请咨询专业金融师。

敏源（技术分析教父）

哭哭鸟

美国禽流感导致鸡蛋供应紧张 催生紧急措施
2015年 5月 22日 星期五 16:39 BJT
http://cn.reuters.com/article/2015/05/22/us-agri-idCNKBS0O70SE20150522

icy97

icy97 发表于 26-4-2015 04:57 AM
潮成集团斥2640万买公司扩狮城业务

二零一五年四月二十五日 晚上八时十七分

Type	Announcement
Subject	TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS
Description	TEO SENG CAPITAL BERHAD ("TEO SENG"  OR" COMPANY")(A)        PROPOSED ACQUISITION ; AND(B)  PROPOSED DISPOSALCOLLECTIVELY REFERRED TO AS "PROPOSALS"
Further to the announcement dated 24 April 2015 , the Board of Directors of Teo Seng (“Board”) wishes to announce that the PROPOSALS was completed on 26 May 2015. Upon the completion of the PROPOSALS, BH Fresh Food Pte Ltd will become a wholly-owned subsidiary of Premium Egg Products Pte Ltd, a wholly-owned subsidiary of the Company. This announcement is dated 26 May 2015.

陳光發

嗯。。。原来，我很久没有看了，不懂头不懂尾

陳光發

欸~块多两块的，买不料叻~看到本钱太重了。。。，现在跑短期，买卖仙股。。。

哭哭鸟

kongsenger

Teo Seng Capital - Sungai Linggui delay not a concern BUY
Publish date: Tue, 30 Jun 2015, 10:25 AM
http://klse.i3investor.com/blogs/amresearch/79164.jsp

- We maintain our BUY call on Teo Seng Capital with an unchanged fair value of RM2.70/share, based on an unchanged fully-diluted FY15F PE of 13x.

- The Star today reported that the group has put on hold plans to expand its layer farm in Sungai Linggui, Kota Tinggi to focus on developing its five new farms in Yong Peng, Batu Pahat. The decision was made following its recent feasibility study which found that it was no longer cost-effective to develop the land there.

- To recap, the group had earlier said that it would be investing RM50mil to open a new 109.3ha farm in Sungai Linggui, which will be developed over four phases.

- TSC currently operates a total of 22 farms (categorised into brooding, pullet and layer farms), which are all located in Yong Peng. These farms are located in the same vicinity as its supporting facilities, namely its feedmill and paper tray machineries.

- We are not concerned with this delay as this was a longer term plan for the group and our earnings estimates have not yet factored in any contribution from its Sungai Linggui farm. The capex of RM50mil was also not included in management’s guidance of the total of RM200mil over the next five years.

- Our FY15F-FY17F earnings CAGR of 23% is underpinned by the production capacity expansion from its Yong Peng farms (+400,000 eggs/day p.a. to 5.1mil eggs/day in five years). We understand that the group has sufficient land available for the development.

- Looking ahead, we expect TSC to register sequentially softer earnings in 2QFY15 due to the seasonality effect and to a smaller extent, the impact of GST on overall consumer sentiment. That said, we are confident of its earnings picking up in 2HFY15 (as per its historical trend) in view of strong demand during the festive periods (e.g. Hari Raya and Deepavali) and the addition of a new farm.

- We also expect the group’s EBITDA margins to continue expanding, buoyed in part by the soft commodity prices. Additionally, the group is set to reap potential savings from its various cost management activities beginning FY15F. We understand that its biogas plant-ups are progressing well, with the first (of five) plant on schedule for completion this year (savings of up to RM2mil p.a.). The construction of its new feedmill plant and installation of new paper tray machine are also going on as planned.

Source: AmeSecurities Research - 30 Jun 2015

--26-3-15 价位 rm2.21 ,rsi=81% 经过3个月出的调整,
于30-6-15 价位 rm1.50 ,rsi=15%
Teoseng 7252 rm 1.50 是时候进入了.
--集团已搁置哥打丁宜蛋鸡场计划.
--以专注发展其在yong peng的五个新农场。

未来成长依然在.

icy97

Type of transaction	Date of change	No of securities	Price Transacted (RM)
Disposed	01 Apr 2015	1,000,000

Circumstances by reason of which change has occurred	Disposed
Nature of interest	Direct Interest
Direct (units)	15,000,000
Direct (%)	5.003
Indirect/deemed interest (units)
Indirect/deemed interest (%)
Total no of securities after change	15,000,000
Date of notice	02 Jul 2015

Notice of Person Ceasing (29C)

TEO SENG CAPITAL BERHAD

Particulars of Substantial Securities Holder

Name	KOPERASI PERMODALAN FELDA MALAYSIA BERHAD
Address	Tingkat 2, Wisma FELDA, Jalan Perumahan Gurney Kuala Lumpur 54000 Wilayah Persekutuan Malaysia.
NRIC/Passport No/Company No.	Koop Negara No.39
Nationality/Country of incorporation	Malaysia
Descriptions (Class & nominal value)	Ordinary  Shares of RM0.20 each
Date of cessation	29 Jun 2015
Name & address of registered holder	Koperasi Permodalan Felda Malaysia BerhadTingkat 1, Wisma FELDA, Jalan Perumahan Gurney54000 Kuala Lumpur

Currency	Malaysian Ringgit (MYR)
No of securities disposed	482,300
Price Transacted ($$)
Circumstances by reason of which Securities Holder has interest	Disposed
Nature of interest	Direct Interest
Date of notice	02 Jul 2015

哭哭鸟

联邦土地局合作社 减持潮成至4.84%
财经新闻 财经  2015-07-03 10:26
http://www.nanyang.com/node/710064?tid=462

（吉隆坡2日讯）联邦土地局合作社（Koperasi Permodalan Felda）脱售潮成集团（TEOSENG，7252，主板消费产品股）股权，减持至4.84%，不再是大股东。

根据文告，联邦土地局合作社是于上月29日，脱售该公司48万2300股，或相等于0.16%股权。

在4月时，该合作社也曾脱售100万股，将持股降至5%；经过这轮脱售后，持股减至1452万股，或4.84%。

icy97

5年内专注永平业务 潮成拟2亿建5蛋鸡农场

财经新闻 财经  2015-07-08 11:16
（麻坡7日讯）潮成集团（TEOSENG，7252，主板消费产品股）搁置在哥打丁宜双溪林桂的蛋鸡农场，并专注于发展峇都巴辖永平的5座新农场。

主席刘裕平日前出席股东大会后向媒体指出，据可行性研究显示，目前不是开发双溪林桂农场的良机。

“我们发现，若要增加鸡蛋的日产量，在永平设立新农场相对更符合成本效益，因与现有设施，如饲料厂和纸蛋托厂毗邻。”

他续说，未来4至5年，投资约2亿令吉兴建5个新蛋鸡农场。

鸡蛋产量上看500万

他指出，这有助公司成为国内最大的上市家禽公司。

“当永平新农场全面投运后，我们预测每日鸡蛋产量为350万粒，并在2018或2019年增加至500万粒。”

潮成集团目前在峇都巴辖有近20座农场和450万只鸡，新增5座农场后，将增至650万只鸡。

另一方面，董事经理蓝旭汕指出，凭借新农场，出口至新加坡的鸡蛋，将从目前30%至35%，提升至40%至45%。

他说，大马仍是主要的市场，加上近年来鸡蛋的价格在已稳定。【南洋网财经】

icy97

雞蛋產量將揚25%‧潮成前景看俏

2015-07-24 17:28      
（吉隆坡22日訊）潮成資本（TEOSENG，7252，主板消費品組）2座新農場下半年投運後，雞蛋產量料增25%，加上能源成本降低的利好，分析員看好該公司前景。

今年增2新農場
大馬研究近日會晤該公司管理層後表示，該公司將在7月及11月增設2座新農場，屆時雞蛋產量可提高25%。目前，每年的產量為310萬粒。

管理層也表示，生產蛋托（egg tray）的能源已在5月份從石油天然氣（LPG）轉換成天然氣，預期每年可節省150萬令吉的能源成本。

此外，管理層指出，目前建造中5座生物氣體工廠進展滿意，首座工廠可在今年完工，預期每年可節省200萬令吉的電費。

管理層透露，基於季節性及消費稅的影響，導致雞蛋價格從每粒34仙高峰下滑24%，目前蛋價仍高於24仙的平均收支平衡價格。

分析員預期第二季淨利將放緩，但有信心在下半年在節慶日子需求及兩座新農場啟用的帶動下，該公司淨利將回彈。

分析員說，該公司早前趁大豆及玉米價格放緩時，已經將遠期購買合約從3個月延長至6個月（至2015年12月），因此即使保守假設美元匯率為3令吉70仙，其飼料成本仍比目前現貨價低11%至21%。

分析員預期該公司營運盈利（EBITDA）賺幅可維持在21%。

大馬研究表示，該公司產品需求每年取得3%至5%穩定的成長、具良好管理層、本益比低及3年23%的複合成長率（CAGR），加上提高派息率，維持該公司“買進”評級及2令吉70仙的目標價不變。（星洲日報／財經‧報導：謝汪潮）

哭哭鸟

之前忽然不知道什么原因跌到够力,幸好没卖..现在又上回

icy97

潮成次季净利跌24%

财经新闻 财经  2015-08-06 09:57
（吉隆坡8日讯）因降低产品售价，潮成集团（TEOSENG，7252，主板消费产品股）截至6月次季，净利按年下跌24.42%，至726万8000令吉，或每股净利2.56仙。

根据文告，营业额按年则微涨0.93%，至9060万9000令吉，去年同期为8977万3000令吉。

累计首6个月，营业额涨14.92%，至2亿319万9000令吉；净利增24.5%，达到2476万令吉。

潮成集团指出，由于拓展计划带来更高生产量，家禽养殖业务贡献营业额1亿3400万令吉，比去年同期高27%。

另外，该集团的投资及交易业务表现不俗，记录营业额6920万令吉，归功于动物保健品销售以及海外子公司。【南洋网财经】

SUMMARY OF KEY FINANCIAL INFORMATION 30 Jun 2015

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30 Jun 2015	30 Jun 2014	30 Jun 2015	30 Jun 2014
		$$'000	$$'000	$$'000	$$'000

1	Revenue	90,609	89,773	203,199	176,814
2	Profit/(loss) before tax	8,790	13,402	32,634	26,955
3	Profit/(loss) for the period	7,248	9,694	24,865	20,104
4	Profit/(loss) attributable to ordinary equity holders of the parent	7,268	9,617	24,760	19,888
5	Basic earnings/(loss) per share (Subunit)	2.56	4.81	8.72	9.94
6	Proposed/Declared dividend per share (Subunit)	0.00	5.00	0.00	5.00
		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 ($$)	0.6400		0.7900

哭哭鸟

今天跌到够力下

jacklee7676

现在是可以进场了吗。