KUB 祛除枯枝，茁壮成长，值得一看？

Author: koko888   |   Publish date: Wed, 15 Jun 2016, 09:14 PM 

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KUB有4大业务：IT（信息和通讯技术），ENERGY（能源，液化石油气/LPG），AGRO（种植业），FOOD（A&W）及贡献比较小的EC，PROPERTIES和POWER/O&G。
  截止2016财政年，第一季每股盈利为1.12分，净现金达42.8m或等于每股8仙，股息0.5仙。
  KUB是与巫统和财政部关系密切的官联公司，（财政部拥有22.55%股份）。
  公司进行项目投标，IT竞标合约介于3-4亿令吉，能源相关竞标合约介于3-4亿令吉，目前手持IT订单62m，去年IT业务营业额达36.6m，税前盈利为7.2m，种植业务
  公司通过收购种植地库，以便将现有的棕油地面积翻倍，位于砂拉越木胶（mukah）的油棕炼油厂，刚于今年3问完成，预计该厂投入运作后，将进一步提高盈利贡献。
  让我感到对KUB有兴趣是，公司已经开始兑现脱售旗下亏钱公司的策略，专注核心业务的政策。
  公司在7/12/15宣布脱售2间蒙受亏损的旗下泰国A&W88%股权，及KUB BUILDER所有股权，接着又在7/6/16公布以19m脱售子公司KUB PRECAST，退出工程和建筑领域（EC），
  截止去年31/12/15财政年，该工程和建筑业务，蒙受19.6m亏损，而在今年首季则面对1.2m的亏损，所以祛除枯枝，对公司百利而无亠害。
  通过2项资产脱售，公司将在资产负债表中，移除泰国A&W的45.34m债务，及来自KUB BUILDER的49.88m债务，而以总值19m脱售KUB PRECAST后取得资金，将用于融资营运
  资本和资本开销，特别是集团的3项核心业务，即：IT，ENERGY，AGRO。
  董事经理拿督阿都拉欣说，随着落实脱售非核心公司及业务转型计划，预计所有营运业务都在2016财政年开始取得正面成长，公司有意将税后盈利35%当作派发股息。
  预测2016财政年，每股盈利可达5分，以12倍本益比来算，合理价RM0.60。

  注：KUB和EMETALL是我5月份买入的股，KUB买入平均价RM0.295，EMETALL是于25/5/16以RM0.525买入，在9/6/16以RM0.885卖出一半，半个月回酬达68%。6月份也买入
  2支股，DNEX买入价RM0.25小赚1分半，L&G买入价0.39持平。

 （只供参考，若有买卖，盈亏自负）

KUB’s realignment strategy yielding results

TheStarWed, May 25, 2016

In a statement following the group’s AGM in Kuala Lumpur yesterday, Abdul Rahim said that the group will continue to evaluate business acquisition opportunities to enhance its earnings.

KUALA LUMPUR: KUB Malaysia Bhd’s business realignment strategy to further enhance its operations has already yielded positive results over its past full financial year, said group managing director Datuk Abdul Rahim Mohd Zin.

In a statement following the group’s AGM in Kuala Lumpur yesterday, Abdul Rahim said that the group will continue to evaluate business acquisition opportunities to enhance its earnings.

“Based on our detailed internal review carried out last year, we had identified out core competencies, namely in the agrobusiness, information and communications technology (ICT), and energy sectors. We will direct out focus on nurturing and building out capabilities to enhance our competitive edge,” he said. In line with its strategy, KUB has disposed its non-performing businesses, namely A&W Restaurant (Thailand) Co Ltd and KUB Builders Sdn Bhd. The disposals resulted in one-off gains totalling to RM19.5mil.

KUB’s agrobusiness segment concluded the construction of its oil palm mill in Mukah, Sarawak in March with a production capacity of 45 tonnes per hour. According to Abdul Rahim, the group will continue to explore potential opportunities to expand their landbank and production capacity.

The group’s ICT business received a RM43mil project from the Ministry of Transport to complete the automatic fare collection system for 53 Keretapi Tanah Melayu Commuter stations. It had also successfully secured its first telecommunication asset contract worth RM16mil from the Malaysian Communications and Multimedia Commission (MCMC).

As for its food business segment, A&W (M) Sdn Bhd has opened seven new outlets in Peninsula Malaysia.

For its financial year ended Dec 31, 2015 (FY15), KUB reported revenue of RM447.25mil a net profit of RM9.08mil, which is a 102% increase from its net profit of RM4.48mil a year ago.

“Despite the challenging environment, we are optimistic in achieving better financial performance moving forward in view of our new business strategies that we have put in place. I believe that we will be able to cobble a sturdy path of long-term growth and value for our shareholders,” Abdul Rahim noted.

During its AGM today, shareholders had approved a first and final single tier dividend of 0.5 sen per ordinary share in respect of the financial year ended 31 December 2015, which translates to a 35.5% dividend payout ratio.