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[公司专区] 7374 TIEN WAH PRESS 天華印務

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发表于 2010-6-15 14:52 | 显示全部楼层 |阅读模式
一家制造纸盒和label的公司。。
拥有bat dunhill 7年纸盒供应和约。。。



公司架构:

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参与人数 1威望 +2 收起 理由
大时代 + 2 谢谢分享

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发表于 2010-6-15 15:10 | 显示全部楼层
据马来西亚星报报道,TIEN Wah印刷公司的经营经理雷蒙·张说,由于公司卷烟包装产品印刷业务对经济形式不太敏感,公司有可能也经历面临许多产业的经济发展减缓的问题。

  在公司于吉隆坡的AGM和EGM股票交易所上士之后,张告诉记者说,由于卷烟消费保持稳定,预计对卷烟包装产品的需求也仍保持稳定。

  Tien Wah75%的营业额均来自与卷烟有关的产品。拥有Tien Wah25%的股权的英美烟草公司是其卷烟包装产品的主要客户。

  张说,自马来西亚烟草公司与英美烟草公司下的波迈乐富门合并之后,来自英美烟草公司的业务量增加了10%。

  Tien Wah生产的卷烟包装产品,有25%的向印尼、泰国、印度和柬埔寨出口。

  据张说,Tien Wah在柬埔寨具有支配性的优势,占有70%的市场份额。位于印尼的P.T. Sempoerna也是它的客户。

  张相信,在截止12月31日的本财政年度,公司至少可以保持去年的利润水平。

  截止2000年12月31日的上一财政年度,公司的完税前利润增加了一倍,达到1018万林吉特,营业额达到1.3768亿林吉特。

  张说,与印刷业的其他同行相比,Tien Wah被认为是幸运的,因为它可以依赖卷烟包装印刷业务的稳定需求。
  据张说,印刷业通常都受到了全球电子业的低迷时期的重击。为电子制造业,如计算机芯片,印刷包装产品的印刷公司业务量下降了20-30%。

  除了印刷卷烟包装产品以外,Tien Wah公司还为快餐、啤酒和清洁剂公司印刷包装产品。在这些领域里的一些客户包括联合利华兄弟公司、麦当劳和肯德基公司。

  张预计,由于经济放缓,业务的发展将有所收缩。

  他说,面对激烈的竞争,Tien Wah公司将缩小其杂志印刷业务的规模。

  他说,公司随后将提出一项自愿分离计划。

  在EGM,Tien Wah公司的股东批准了5股送1股的分红提案。

  完成分红方案后,公司的已付资本将从3620万林吉特扩大到4350万林吉特,这与吉隆坡股票交易所对第二股东公司的最低资本要求相符合。所有的第二股东公司都被要求到2002年达到已付资本最低额4000万林吉特的要求。

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发表于 2010-6-19 10:26 | 显示全部楼层
General Announcement
Reference No MI-100608-57463  

Submitting Merchant Bank : AFFIN INVESTMENT BANK BERHAD
Company Name : TIEN WAH PRESS HOLDINGS BERHAD   
Stock Name  : TIENWAH   
Date Announced : 08/06/2010   


Type : Announcement
Subject : TIEN WAH PRESS HOLDINGS BERHAD ("TWPH OR "COMPANY")

(I) PROPOSED RENOUNCEABLE RIGHTS ISSUE OF UP TO 27,570,000 NEW ORDINARY SHARES OF RM1.00 EACH IN TWPH (“TWPH SHARES”) (“RIGHTS SHARES”) ON THE BASIS OF TWO (2) RIGHTS SHARES FOR EVERY FIVE (5) EXISTING TWPH SHARES HELD (“PROPOSED RIGHTS ISSUE”);

(II) PROPOSED INCREASE IN THE AUTHORISED SHARE CAPITAL OF THE COMPANY FROM RM100,000,000 COMPRISING 100,000,000 TWPH SHARES TO RM200,000,000 COMPRISING 200,000,000 TWPH SHARES (“PROPOSED INCREASE IN THE AUTHORISED SHARE CAPITAL”);

(III) PROPOSED AMENDMENTS TO THE MEMORANDUM AND ARTICLES OF ASSOCIATION OF THE COMPANY (“PROPOSED AMENDMENTS"); AND

(IV) PROPOSED PROVISION OF FINANCIAL ASSISTANCE TO MAX EASE INTERNATIONAL LIMITED (“MEIL”), A 51% OWNED SUBSIDIARY OF TWPH (“PROPOSED PROVISION OF FINANCIAL ASSISTANCE”).

(COLLECTIVELY REFERRED TO AS THE “PROPOSALS”)
  
Further details of the abovementioned Proposals are set out in the attachment of this announcement.

This announcement is dated 8 June 2010.

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发表于 2010-8-10 18:58 | 显示全部楼层
7374    TIENWAH    TIEN WAH PRESS HOLDINGS BHD
Quarterly rpt on consolidated results for the financial period ended 30/6/2010
Quarter:2nd Quarter
Financial Year End:31/12/2010
Report Status:Unaudited
Submitted By:MS LILIAN LEONG LAI YOONG

Current Year QuarterPreceding Year Corresponding QuarterCurrent Year to DatePreceding Year Corresponding Period
30/06/201030/06/200930/06/201030/06/2009
RM '000RM '000RM '000RM '000
1Revenue86,23875,606176,047150,882
2Profit/Loss Before Tax4,6627,5269,33215,536
3Profit/Loss After Tax and Minority Interest4,0415,6997,30012,033
4Net Profit/Loss For The Period3,4823,8405,5599,252
5Basic Earnings/Loss Per Shares (sen)5.055.578.0713.42
6Dividend Per Share (sen)0.008.000.008.00
As At End of Current QuarterAs At Preceding Financial Year End
7Net Assets Per Share (RM) 2.27002.2600

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发表于 2010-9-3 20:50 | 显示全部楼层
公司的管理层出现很大的更动,由以前的创办人重新掌舵。
这个掌舵人之前的过去的作风很不错,在财务方面相当保守,将债务压至最低。

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发表于 2011-1-11 09:33 | 显示全部楼层
本帖最后由 cht 于 2011-1-11 09:49 编辑

增訂3台印刷機 吉隆坡天華印務擴展區域

發佈日期:2010/10/6
消息來源:大馬財經

吉隆坡天華印務(TIENWAH, 7374, 主板工業產品組)增訂三台印刷機,支援趨近飽和的印刷產能,放眼滿足現有客戶同時,進一步開拓區域市場。

這家公司執行主席東姑馬哈里爾指出,目前業務約67%來自煙草領域,而且手持合約數量龐大,讓現有印刷產能開始吃緊,公司為此增訂三台印刷機,每台價格超過1千萬令吉,年產能高達20億個煙盒,可緩和產能拮据。

「我們會專注服務現有客戶,區域拓張則會等到產能穩定後才繼續實行,而且,政府對煙盒包裝的新要求讓我們須從新設定印刷產能,多少對運作造成影響,至今仍持續穩定這項衝擊。」他看好亞洲煙草業前景,表示歐美許多商家開始覬覦亞洲市場,尤其越南有意涉足煙草出口業務,公司在當地設有兩處營運地點,作為迎合當地煙草業成長工具,同時會探討投資其他國家的機會。

詢及會否在短期內進行其他收購,他表示雖然公司不排除這種可能性,但鑒於目前重點是穩定內部營運,涉足收購活動的機率不大。他說:「只有當解決產能問題和穩定現有客戶後,才能進行其他企業活動。」
賺副有緩慢提升跡象,可能是機器已經大部分啟用的關係,要小心的是成本控制。

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发表于 2011-2-23 18:51 | 显示全部楼层
本帖最后由 大时代 于 2011-8-28 11:33 编辑

Company Name

:

TIEN WAH PRESS HOLDINGS BERHAD
Stock Name

:

TIENWAH   
Date Announced

:

23/02/2011
Financial Year End

:

31/12/2010
Quarter

:

4
Quarterly report for the financial period ended

:

31/12/2010
The figures

:

have not been audited

SUMMARY OF KEY FINANCIAL INFORMATION

31/12/2010


    INDIVIDUAL PERIOD

    CUMULATIVE PERIOD

      CURRENT YEAR QUARTER

      PRECEDING YEAR
      CORRESPONDING
      QUARTER

      CURRENT YEAR TO DATE

      PRECEDING YEAR
      CORRESPONDING
      PERIOD

        31/12/2010

        31/12/2009

        31/12/2010

        31/12/2009

          $$'000

          $$'000

          $$'000

          $$'000

          1Revenue

          89,717

          90,526

          354,666

          328,610

          2Profit/(loss) before tax

          5,207

          5,443

          21,113

          28,369

          3Profit/(loss) for the period

          6,032

          4,058

          18,901

          21,256

          4Profit/(loss) attributable to ordinary equity holders of the parent

          3,791

          2,586

          13,821

          15,450

          5Basic earnings/(loss) per share (Subunit)

          5.28

          3.60

          19.25

          21.52

          6Proposed/Declared dividend per share (Subunit)

          14.80

          12.05

          14.80

          20.05









          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 ($$)

          1.9600

          2.2600

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          发表于 2011-2-23 20:19 | 显示全部楼层
          7374    TIENWAH    TIEN WAH PRESS HOLDINGS BHD  
          Final Dividend 14.8 Sen

          Entitlement Details:
          Final dividend of 14.8 sen gross per share less tax of 25% in respect of the
          financial year ended 31 December 2010.


          Entitlement Type: Final Dividend
          Entitlement Date and Time: 14/06/2011  05:00 PM
          Year Ending/Period Ending/Ended Date: 31/12/2010
          EX Date: 10/06/2011
          To SCANS Date:   
          Payment Date: 30/06/2011
          Interest Payment Period:   
          Rights Issue Price: 0.000
          Trading of Rights Start On:   
          Trading of Rights End On:   
          Stock Par Value:   

          Share transfer book & register of members will be closed from   to   (both dates inclusive) for the purpose of determining the entitlements  

          A Depositor shall qualify for the entitlement in respect of:  
          - Securities transferred into the Depositor's Securities Account before 14/06/2011 04:00 PM in respect of ordinary transfers.  
          - Securities transferred into the Depositor's Securities Account before     in respect of express transfers.  
          - Securities deposited into the Depositor's Securities Account before     in respect of securities exempted from mandatory deposit.  
          - Securities not withdrawn from the Depositor's Securities Account as at    .  
          - Securities bought on KLSE on a cum entitlement basis according to the Rules of the KLSE.  

          Registrar's Name and Contact:
          Tricor Investor Services Sdn Bhd
          Level 17, The Gardens North Tower,
          Mid Valley City, Lingkaran Syed Putra,
          59200 Kuala Lumpur,
          Malaysia
          Telephone No.: 03-22643883


          Remarks:
          N/A


          Submitted By:
          MS LILIAN LEONG LAI YOONG


          23/02/2011   06:47 PM  


          Ref Code: 20110223EA00422

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          发表于 2011-8-28 11:26 | 显示全部楼层
          Company Name:TIEN WAH PRESS HOLDINGS BERHAD
          Stock Name :TIENWAH   
          Date Announced:10/05/2011


          Financial Year End:31/12/2011
          Quarter:1
          Quarterly report for the financial period ended:
          31/03/2011
          The figures:have not been audited


          SUMMARY OF KEY FINANCIAL INFORMATION
          31/03/2011


          INDIVIDUAL PERIODCUMULATIVE PERIOD
          CURRENT YEAR QUARTER PRECEDING YEAR
          CORRESPONDING
          QUARTER
          CURRENT YEAR TO DATEPRECEDING YEAR
          CORRESPONDING
          PERIOD
          31/03/2011
          31/03/2010
          31/03/2011
          31/03/2010
          $$'000$$'000$$'000$$'000
          1Revenue 90,75489,80990,75489,809
          2Profit/(loss) before tax 5,5054,6705,5054,670
          3Profit/(loss) for the period4,0003,2594,0003,259
          4Profit/(loss) attributable to ordinary equity holders of the parent2,6772,0772,6772,077
          5Basic earnings/(loss) per share (Subunit) 2.773.012.773.01
          6Proposed/Declared dividend per share (Subunit)0.000.000.000.00
          AS AT END OF CURRENT QUARTERAS AT PRECEDING FINANCIAL YEAR END
          7Net assets per share attributable to ordinary equity holders of the parent ($$)1.99001.9600

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          发表于 2011-8-28 11:28 | 显示全部楼层
          Company Name:TIEN WAH PRESS HOLDINGS BERHAD
          Stock Name :TIENWAH   
          Date Announced:09/08/2011


          Financial Year End:31/12/2011
          Quarter:2
          Quarterly report for the financial period ended:
          30/06/2011
          The figures:have not been audited


          SUMMARY OF KEY FINANCIAL INFORMATION
          30/06/2011


          INDIVIDUAL PERIODCUMULATIVE PERIOD
          CURRENT YEAR QUARTER PRECEDING YEAR
          CORRESPONDING
          QUARTER
          CURRENT YEAR TO DATEPRECEDING YEAR
          CORRESPONDING
          PERIOD
          30/06/2011
          30/06/2010
          30/06/2011
          30/06/2010
          $$'000$$'000$$'000$$'000
          1Revenue 98,22786,238188,981176,047
          2Profit/(loss) before tax 13,3184,66218,8239,332
          3Profit/(loss) for the period10,7074,04114,7077,300
          4Profit/(loss) attributable to ordinary equity holders of the parent7,9713,48210,6485,559
          5Basic earnings/(loss) per share (Subunit) 8.265.0511.038.07
          6Proposed/Declared dividend per share (Subunit)0.000.000.000.00
          AS AT END OF CURRENT QUARTERAS AT PRECEDING FINANCIAL YEAR END
          7Net assets per share attributable to ordinary equity holders of the parent ($$)1.98001.9600


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          发表于 2011-11-10 22:05 | 显示全部楼层
          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
                  1Revenue
                  101,618
                  88,902
                  290,599
                  264,949
                  2Profit/(loss) before tax
                  13,506
                  6,574
                  34,593
                  15,906
                  3Profit/(loss) for the period
                  11,086
                  5,569
                  28,057
                  12,869
                  4Profit/(loss) attributable to ordinary equity holders of the parent
                  8,003
                  4,471
                  19,805
                  10,030
                  5Basic earnings/(loss) per share (Subunit)
                  8.29
                  6.49
                  20.52
                  14.55
                  6Proposed/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 ($$)

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                  x 95
                   楼主| 发表于 2012-1-5 23:21 | 显示全部楼层

                  天华印刷(TIENWAH)by 杰克【謝絕灌水】

                  本帖最后由 JackyChoo 于 2012-1-7 18:50 编辑

                  天华印刷(TIENWAH,7374,工业板股)


                  公司简介

                  Incorporation and Principal Activities

                  Tien Wah Press Holdings Berhad (“TWPH”) was incorporated in Malaysia on 15 April 1995 as a private limited company and was converted into a public company on 13 June 1995. The Company was listed on the Second Board of the Kuala Lumpur Stock Exchange on 2 August 1996 and migrated to the Main Board of Bursa Malaysia Securities Berhad on 8 October 2007. Its principal activity is that of investment holding while the activities of its subsidiaries and associate company are those of rotogravure printing, photolithography printing and printing of tipping paper.

                  Background and Business Overview

                  The TWP Group's operation began with the establishment of Tien Wah Press (M) Sdn Bhd ("TWPM") on 20 July 1960 with a workforce of 78 involved initially in the operation of photolithography printing specialising in book printing and folding carton conversion. Spurred by the steady growth of its business, TWPM ventured into rotogravure printing technology in 1986 to meet the increasing demand in cigarette cartons and in 1989, it ventured further into printing of tipping materials for cigarette filters.

                  Since its listing in 1996, the TWP Group developed further by establishing joint venture companies; Benkert (M) Sdn Bhd ("Benkert") in 1998 and Paper Base Converting Sdn Bhd ("PBC") in 1999. Benkert operates as a member of the International Benkert Group who is a major supplier of gravure printed and perforated tipping materials to the global cigarete manufacturers. PBC manufactures aluminium foil laminated paper and paperboard for cigarette packaging and other applications such as liquor and cosmetics. PBC was disposed off to New Toyo Lamination (M)Pte Ltd, a deemed substantial shareholder of TWPH, on 4 december 2008.

                  In 2007, TWPH completed the acquisition of a wholly-owned subsidiary, New Toyo Investments Pte Ltd ("NTIV") from New Toyo International Holdings Ltd ("NTIH") the ultimate shareholder of TWPH. NTIV is an investment holding company which owns 100% of Alliance Print Technologies Co. Ltd ("APT") in Vietnam. This acquisition enabled the TWP Group to enter into Vietnam, a market in Southeast Asia with strong growth, an attractive tax regime and low production cost.

                  On 8 September 2008, TWPH acquired Max Ease International Limited ("MEIL"),, a company incorporated and domiciled in Hong Kong Special Administrative Region of the People's Republic of China, and converted it into a joint venture company with NTIH. Through MEIL, TWP Group expanded its operations into the Australasia region by acquiring Anzpac Services (Australia) Pty Ltd (Anzpac"), based in Sydney, Australia. The acquisition of Anzpac was completed on 31 October 2008.

                  Also in 2008, the Group, together with substantial shareholder and ultimate holding company New Toyo International Holdings Ltd, successfully bid for a seven year exclusive supply agreement to supply British American Tobacco printed carton requirements in Australasia, Vietnam, Singapore and Malaysia. Fulfilling the demands spelt out in this agreement now represents the Group's core business.

                  In 2009, TWPH acquired Toyo (Viet) Paper Product Co.Ltd., a company incorporated and domiciled in Vietnam. This move represents one of the many strategies undertaken by the Group to expand operatin capacity.

                  TWP Group's manufacturing operations are presently sited at factories located at Petaling Jaya and Puchong in Malaysia, Vietnam - Singapore Industrial Park and Binh Chieu Industrial Park in Ho Chi Minh City, Vietnam, and Smithfield Sydney, Australia. TWP is reputed as a high quality print packaging company offering excellent quality materials using state-of-the-art printing technologies. In terms of market share, the TWP Group is one of the top 5 printers in Malaysia, and a major player in South East Asia and Australasia. Supported by its staff of about 700, the TWP Group will continue to focus on developing its core competencies and consolidating its strengths to enable us to maintain its leading edge in the industry both locally and globally.

                  The TWP Group, established over five decades ago and built on a strong financial position, dedicated work force and extensive market coverage, remains firm in providing quality products and services to its customers.

                  The ultimate holding company is New Toyo International Holdings Ltd, a company listed on the Main Board of the Singapore Stock Exchange.


                  策略性分析

                  续上个月的分享,大部分避险股项都已经被基金经理追捧推高,几乎很难再找到稳中求胜的投资股项。然而近期股市更是越战越勇,就连2/3线股也受到追捧。至于目前马股的趋势大致上都属于轮流炒作的迹象,在酱的情况下如果我们必须特别谨慎,毕竟指数高举不下,更是成功突破1500 ~ 1505的强大阻力线,必要时要以稳中求胜为投资策略。

                  至于筹码面显示外资近期继续踊跃将资金流入国内股市,相信对短期股市是正面的,尤其是高稳定性的蓝筹股项,例如:PCHEM,TENAGA,UMW,MISC等等。




                  基本面分析

                  天华印刷目前业务约67%来自烟草领域,其中的25%是向印尼、泰国、印度和柬埔寨出口,然而手持合约数量庞大,让现有印刷产能开始吃紧,因而导致公司在2010年期间增订三台印刷机,每台价格超过1千万令吉,年产能高达20亿个烟盒,可缓和产能拮据,因此导致公司负债率节节上升。毕竟管理层看好亚洲烟草业前景,表示欧美许多商家开始觊觎亚洲市场,尤其越南有意涉足烟草出口业务,公司在当地设有两处营运地点,作为迎合当地烟草业成长工具,同时会探讨投资其他国家的机会。

                  天华印刷在柬埔寨具有支配性的优势,占有70%的市场份额。位于印尼的P.T. Sempoerna也是它的客户。如果拿天华印刷与印刷业的其他同行相比,天华印刷被认为是幸运的,因为它可以依赖卷烟包装印刷业务的稳定需求。毕竟印刷业通常都受到了全球电子业的低迷时期的重击。为电子制造业,如计算机芯片,印刷包装产品的印刷公司业务量下降了20 ~ 30%。

                  除了印刷卷烟包装产品以外,天华印刷还为快餐、啤酒和清洁剂公司印刷包装产品。在这些领域里的一些客户包括联合利华兄弟公司、麦当劳和肯德基公司。

                  至于近期公司管理层出现很大的变动,由以前的创办人重新掌舵。这个掌舵人之前在过去的作风都相当突出,在财务管理方面都属于相当保守,一直都很积极的将债务减低至最安全水平,同时管理层也成功在2010年与单一最大客户BAT,4162,续约长达8年,直到2018年。

                  至于公司近五年ROE都介于8 ~ 21%之间,股息派发比率介于盈利的60 ~100%之间,DY介于7 ~ 11%PA,不过由于公司在2010年期间增订三台印刷机,所以预计未来三年的盈利以及ROE将获得改善。股票流通量就比较逊色,100% - 81.54% = 18.46% X 96,495,000股 = 17,8129,770股。





                  SEGMENT REPORT



                  GROUP CORPORATE STRUCTURE




                  公司产品与服务 ~ LITHO






                  公司产品与服务 ~ GRAVURE








                  技术分析

                  由于CHARTNEXUS系统出现故障,10/06/2011股息除权日未有做出ADJUSTMENT,所以图标在10/06/2011之前的都一律必须以闭市价减15仙作为标准。

                  股价支撑点在1.75 ~ 1.77之间,目前形态上依然属上升趋势,并在29/12/2011成功突破强大阻力线1.77,然而同时间出现爆量。从技术的角度来做出判断,只要股价成功守得住1.75 ~ 1.77的支撑,相信股价很大机率会继续向上攀升。

                  建议:

                  在1.75 ~ 1.77之间作为短期的切入点,如果股价继续上升不妨考虑微量再加码。





                  投资买点 :
                  • 股价在29/12/2011成功突破,闭市在1.82然而技术上显示出买入讯号。
                  • 预计未来三年的盈利以及ROE将获得改善。
                  • 技术分析1.75 ~ 1.77之间拥有很大的买盘支撑,而且预计2月会宣布18 ~ 20仙的股息或相等于DY11%PA左右,由此相信胜算很高。
                  • 业务约67%来自烟草领域,所以如果与印刷业的其他同行相比,业务会较为稳定。
                  • 管理层成功在2010年与单一最大客户BAT,4162,续约长达8年,直到2018年。


                  投资风险 :
                  • 债务依然处于高位置水平。
                  • 公司销量太过于依赖单一客户BAT,4162。



                  风险管理评估报告 ~ 1 STAR为最低 5 STAR为最高


                  管理层素质 :4.0 STAR

                  管理层诚信 :3.5 STAR

                  公司透明度 :3.5 STAR

                  公司派息能力 :4.5 STAR

                  公司业务成长潜能 :3.5 STAR

                  投资风险 :1.5 STAR

                  整体投资胜算 :3.5 STAR


                  注:以上分享纯粹个人意见,买卖自负盈亏,而且本身拥有股权,所以绝对有利益冲突。

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                  参与人数 2威望 +10 收起 理由
                  whytoocare + 5 谢谢你的付出。
                  大时代 + 5 谢谢分享

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                  x 8375
                  发表于 2012-1-6 17:03 | 显示全部楼层
                  很好的股,曾经发掘和拥有过,只是流通性很低,很考耐力。还好,红股过后,现在交易量比较好一些了。

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                  发表于 2012-1-6 17:40 | 显示全部楼层
                  本帖最后由 炭炒 于 2012-1-6 17:51 编辑


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                   楼主| 发表于 2012-1-6 18:06 | 显示全部楼层
                  杰克有个朋友真的好,帮我EMAIL去CHARTNEXUS REPORT关于TIENWAH图表的问题,相信图表很快就会调整回去了。


                  这个是CHARTNEXUS的REPLY


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                  x 95
                   楼主| 发表于 2012-1-6 18:09 | 显示全部楼层
                  为什么负债那么高?
                  Nic 发表于 2012-1-6 17:13


                  应该是因为收购这两间公司,因而导致负债提高,不过近年来管理层非常积极减低负债率。

                  In 2007, TWPH completed the acquisition of a wholly-owned subsidiary, New Toyo Investments Pte Ltd ("NTIV") from New Toyo International Holdings Ltd ("NTIH") the ultimate shareholder of TWPH.

                  On 8 September 2008, TWPH acquired Max Ease International Limited ("MEIL")Through MEIL, TWP Group expanded its operations into the Australasia region by acquiring Anzpac Services (Australia) Pty Ltd (Anzpac"), based in Sydney, Australia.

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                  发表于 2012-1-6 18:14 | 显示全部楼层
                  3千万的cash, 相对 2亿的liabilities,会不会杯水车薪?

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                  发表于 2012-1-6 18:17 | 显示全部楼层
                  回复 13# JackyChoo
                  这只股您打算如何操作?

                  一路守到宣布股息(希望是这样),股价大涨,然后卖掉?

                  OR

                  长期投资,直到FULLY VALUED?

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                  x 50
                  发表于 2012-1-6 18:29 | 显示全部楼层
                  回复 18# dragonfoo

                  有。
                  2005年2月28日,公司宣布:

                  the Board of Directors of the Company is pleased to inform that the Company will adopt a general dividend policy and endeavor to distribute a minimum of 50% of its net earnings to shareholders for at least the next two years.

                  The proposed dividend payments for each financial year will generally be paid in one tranche with the announcement of the year end unaudited financial results comprising of a final dividend and a special dividend, if deemed appropriate.


                  摘自这里

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                   楼主| 发表于 2012-1-6 18:35 | 显示全部楼层
                  3千万的cash, 相对 2亿的liabilities,会不会杯水车薪?
                  炭炒 发表于 2012-1-6 18:14


                  以杰克的经验来判断,相信现金流应该不是问题,毕竟公司约67%业务来自烟草领域,相对比较稳定,再有管理层已经成功在2010年时与单一最大客户BAT,4162,续约长达8年,直到2018年。所以大致上忧虑已经解除了,最后杰克察觉到公司近年来的债务也很明显的有逐步改善。

                  还有一个重点杰克想提的是公司在近五年来非常积极扩展业务,收购了很多公司,如今看到业务显然有很大的增展,盈利节节上升,总总迹象显示管理层之前的举动或决定是相当明确的,所以杰克相信未来几年公司的现金流量应该不是问题,反而我比较担心公司与单一最大客户BAT,4162的合约问题,不过短期内也已经解除了,至少可以安心到2018年。

                  杰克要出门了,回来再为你们解答。

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