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Yi-Lai Bhd (5048.KU) - Malaysia
4th quarter ended Dec. 31:
Figures are in Ringgit (MYR).
2006 2005
Revenue MYR32,067,000 MYR32,047,000
Pretax Profit 7,375,000 7,622,000
Net Profit 5,852,000 6,500,000
Earnings Per Share 3.66 Sen 4.06 Sen
Dividend 8.00 Sen 8.00 Sen
12 months ended Dec. 31:
Revenue 132,716,000 119,733,000
Pretax Profit 32,124,000 33,682,000
Net Profit 23,886,000 27,706,000
Earnings Per Share 14.93 Sen 17.32 Sen
Dividend 13.00 Sen 15.00 Sen
The weak performance from Yilai was expected, wasn't it?
Here's some brief comments from RHB:
Competition in the domestic ceramic tiles industry will continue to remain stiff against the backdrop of massive excess capacity and softening demand on the
back of a weak property market. The rising operating costs coupled with local players’ inability to penetrate the export market in a major way do not help either.
khat wrote: so if one is hoping to beat the 4% fd rate, he has no problem in this counter.
A good to park excess cash instead of fd?
Very consistent in giving div, don't disappoint but already not that great compare to earlier years.
Historical track record of giving consistent dividends is one issue.. but in cases where the company earnings decline, then the prudent investor simply should NOT discount this issue.
For without the strong consistent earnings, then the investor would logically ask 'how long could the strong consistent dividend payout sustain'?
for div play, i think there are some other stocks which do pay decent money out year in and year out.
The price is pretty "boring" and mostly tightly controlled.
Nm got a point that when the industry is no more rosy, why park yr money there?
But, since we r a growing country (economy), we will definitely need more houses (properties) along the way. SO, tile makers will definitely have their market. Just that dont expect growth rate of mid teens.
And with the property market starting to heat up, who knows what yilai will report in 6 months down the road. INvesting is really on its future, not on past performance...
In all honesty, if you ask me, i do believe that perhaps there could be potential in yilai, especially given its geographic location. However, as everyone knows, everything is currently in so-called planning stages now in that region.
And here is where it gets tricky. Currently, everything looks rather gloomy. It is simply not out of the woods yet... but... the tricky thing as mentioned is that investing is all bout the ability of the company to deliver future earnings.
Will this so-called potential turn real?
Is tile makers the best bet in this investment based on theme?
How will it benefit YiLai?
And would Yilai be able to turn potential into profits?
And would current prices be a good bet for Yilai?
I am happy if i can make 80% of profit over in a major trend. So, i will let's those daredevil to be the pioneer in holding yilai. I will wait until i see some signs that things are getting better.
Remember ,the darkest hour is always before sunrise....
