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[公司专区] 3026 Dutch Lady 子母牌

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发表于 2012-3-30 00:46 | 显示全部楼层

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发表于 2012-3-30 01:00 | 显示全部楼层
我只要他的盈利一直得增长下去,派不派红股不是太重要
tyche6 发表于 2012-3-29 23:35


都说是一种Bonus,当然是Bonus而已!Jackpot是选中正确的公司,一个能够源源不绝增长其盈利并且实实在在将钱交到股东手中的公司。

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发表于 2012-3-30 09:04 | 显示全部楼层
又下跌了

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发表于 2012-3-30 09:55 | 显示全部楼层
大起大落,会不会是出货的警讯?
要小心哦。

会不会小股被warning了所以炒家进来炒好股?

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发表于 2012-3-30 14:13 | 显示全部楼层
大起大落,会不会是出货的警讯?
要小心哦。

会不会小股被warning了所以炒家进来炒好股?
dicman 发表于 2012-3-30 09:55


ehm..to me a bit impossible lah.

cause need big capital and profit less..lol..

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发表于 2012-3-30 19:07 | 显示全部楼层
股價屢創新高‧子母牌評級調降
熱股評析 2012-03-30 19:02

(吉隆坡30日訊)子母牌煉奶(DLADY,3026,主板消費品組)近期因派高息的利好因素帶動股價飆漲,如今開始出現套利,分析員認為其股價已超越目標價,因此下調評級。

子母牌煉奶股價屢創新高,該股3月上旬仍在30令吉關口以下波動,不過近幾個交易日卻開始飆升,從上週一起觸碰30令吉大關後,一直穩步向上,短短9個交易日揚升了12.33%。

不過,該股在昨日午市開始回軟,今日繼續滑跌,終場掛34令吉26仙,跌24仙或0.7%。惟成交量僅有6萬零400股。

儘管該股估值已偏高,但肯納格不排除近期內仍將走高,歸功於上個月建議派發的每股1令吉30仙單層股息;股息除權日訂在4月26日。

“這或促使2012財政年的派息額達到2令吉54仙,相等於7.3%週息率。”

抗跌性高具吸引力

無論如何,該行仍維持子母牌煉奶2013財政年1令吉31仙股息預估。從基本面而言,該公司的抗跌性業務深具吸引力,加上不斷推出的新產品攫取龐大市佔率。

肯納格提到,子母牌煉奶曾在2007年杪錄得相等於目前約20倍本益比估值,主要是因為2006財政年取得亮眼的59%盈利成長。而且,只有當時的估值與雀巢(NESTLE,4707,主板消費品組)近5年的本益比相近。

估值比雀巢折價近28%

“隨子母牌煉奶2011財政年也捎來標青的69%盈利增長,我們不排除其與雀巢的估值拉近,因為目前子母牌煉奶的估值仍比雀巢折價近28%。”

值得一提的是,當前雀巢是以27倍本益比進行交易,若子母牌煉奶也同樣達到此水平,那其合理價則將大幅調升至48令吉。

“不過,現階段我們僅以19倍本益比來衡量子母牌煉奶,因此目標價只有34令吉20仙。”

由於股價已超越目標價,肯納格將子母牌煉奶的評級從“跑贏大市”下調至“符合大市”,不過合理價卻從30令吉調高至34令吉20仙。

該行相信在股息除權後,子母牌煉奶股價將調整回合理水平。無論如何,該股持有1億9千310萬令吉充裕現金流,或相等於每股3令吉零2仙。

“該公司沒有任何借貸,龐大現金流可充作未來的股息派發。”(星洲日報/財經)

http://www.sinchew-i.com/taxonomy/term/5?page=1

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发表于 2012-3-30 19:39 | 显示全部楼层
那么除权前,应该还有上升的空间咯~

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发表于 2012-3-30 19:43 | 显示全部楼层
股價屢創新高‧子母牌評級調降
熱股評析  2012-03-30 19:02
(吉隆坡30日訊)子母牌煉奶(DLADY,30 ...
ytechcity 发表于 2012-3-30 19:07


才19?还很便宜,我想我要重新估价了。

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发表于 2012-3-30 21:05 | 显示全部楼层
股價屢創新高‧子母牌評級調降
熱股評析  2012-03-30 19:02
(吉隆坡30日訊)子母牌煉奶(DLADY,30 ...
ytechcity 发表于 2012-3-30 19:07



    合理的PE是20吗?

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发表于 2012-3-30 21:23 | 显示全部楼层
才19?还很便宜,我想我要重新估价了。
无聊人 发表于 2012-3-30 19:43



    不是啊应该过pe20了

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发表于 2012-3-30 23:13 | 显示全部楼层
26 March 2012
Are your kids drinking enough milk daily?


By BRIGITTE ROZARIO

Malaysian families are not drinking enough milk. Generally, an individual would drink more milk as a child, then less as he or she enters school, even less when entering adulthood, and then milk consumption increases again in the senior years.

However, according to Loo Mei Fong, senior nutritionist with Dutch Lady Milk Industries, the trend is lower in Malaysia compared with other Asian countries.

“According to a recent Dutch Lady study, Malaysia's milk consumption is lower compared with other Asian countries. In 2010, Malaysia's per capita consumption was 4.1 litres, while countries like Vietnam were consuming more than 7 litres,” says Loo.

While this pattern is not something new, Loo says that parents should be concerned that their children are not drinking enough milk and getting the nutrients that they could be getting from it.

According to the statistics from the 2003 Malaysian Adult Nutrition Survey (MANS), Malaysians are only taking 0.14 servings of milk and dairy products a day, which is basically one small glass, as compared to the recommended intake which is 1-3 servings per day.

“That's why we advocate milk consumption habits from young. We need to focus on young children and families because studies show that good habits have to be inculcated from young,” says Loo.

Benefits of milk

Humans need 39 essential nutrients including protein, amino acids, vitamins, minerals, Omega 3 and 6 fatty acids. However, milk itself contains as much as 36 essential nutrients, informs Loo.

Besides being an important source of calcium, milk is also a natural source of macro and micronutrients.

“Drinking milk daily ensures children get all the essential nutrients for their physical and mental development. Milk also acts as a healthy beverage as compared to soft drinks or sweetened beverages to replenish the fluid requirements of children,” adds Loo.

She explains that although, families can also get their calcium from cheese and yoghurt, milk is much more nutritious. Besides, the cheese and yoghurt penetration rate in Malaysia is even lower than that of milk. More families are likely to drink milk than take cheese and yoghurt.

Paediatrician Dr Tan Han Tiong agrees, saying that among the consequences of insufficient milk consumption during the growing years is the increased risk of rickets. Rickets is a bone-softening disease that causes poor growth, bow legs and sometimes even muscle pain and weakness. It is caused by a deficiency in calcium and Vitamin D.

“Children who are drinking less milk, and (taking) more fizzy drinks, and getting less exercise are reported to be more prone to fractures, especially in the forearm due to decreased bone mass.

“In addition, teenagers, especially girls, whose diet doesn't provide the nutrients to build bones to their maximum potential are at greater risk of developing osteoporosis later in life. Osteoporosis is a disease that causes bones to become less dense and more prone to fractures. It has been called the 'paediatric disease with geriatric consequences'.”

According to Loo, the recommended daily intake of milk and dairy products is:

Children aged 2-4 years – 3 servings;
Children aged 4-6 years – 2 servings; and
Everyone else – 1-3 servings.

Milk options

If a child or teenager is reluctant to drink milk because they think they are too big and milk is only for small children, Loo recommends trying out the various flavoured milks available.

Parents who don't want to opt for packet milk drinks can always make their own smoothies and milkshakes by mixing milk with fruits and blending the mixture.
Loo ... 'parents also need to drink milk to be a good role model for their kids.'

“Sometimes when children go to primary school, they feel they are older now and ask not to drink milk anymore. I think the parents need to continue giving their children milk. To do that, parents also need to drink milk to be a good role model for their kids. When children see their parents drinking milk, they will want to drink it, too. It's very difficult to ask the kids to drink milk, when the parents themselves don't do it,” says Loo.

As for children and adults who are lactose intolerant, Loo recommends helping the body adapt to taking milk. According to her, lactose intolerance is actually common among Asians. She says that generally over 90% of Asians have some degree of lactose intolerance.

The solution is not to eliminate milk and dairy products completely from a child or adult's diet.

“Lactose intolerance is generally the result of lactase deficiency. When a child is lactose intolerant it may manifest in symptoms like diarrhoea and vomiting. There is no way to make our body produce more lactase. However, we can train our body by drinking milk in small portions and gradually increasing the portions.

“All of us may be lactase deficient to a certain extent. So, maybe you cannot tolerate one packet of milk, but you might try with just half a packet. If you can tolerate it, then slowly increase the amount of milk.

“For most people this will work unless you have cow's milk allergy, in which case you can't even take ice-cream. In that situation, a lot of foods will have to be avoided, but cow's milk allergy is quite rare,” explains Loo.


full articles on: http://parenthots.com/features/M ... ng-enough-milk.aspx

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发表于 2012-3-31 21:27 | 显示全部楼层
回复 153# yeah
Operating Cashflow已经扣了tax,所以没必要再扣了。 还有如果要算公司流入多少现金,不可以忘了扣利息支出。
公司入账236cent是没错,但公司肯定没办法派那么多钱。公司还是需要资本扩充,买原料,维修机器,付工资等等开销。不过这确实证明了它还有派更多钱的本事!

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发表于 2012-3-31 21:59 | 显示全部楼层
本帖最后由 yeah 于 2012-3-31 22:04 编辑
回复  yeah
Operating Cashflow已经扣了tax,所以没必要再扣了。 还有如果要算公司流入多少现金,不可以忘 ...
lmenwe 发表于 2012-3-31 21:27


我想你看错了。。。
这个operating是还没扣tax的。。
还有。。236cent是已经扣掉要资本扩充,买原料,维修机器,付工资等等开销
得空你再去看一次,要每个字看完哦。

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发表于 2012-4-1 03:55 | 显示全部楼层
回复 173# yeah
抱歉没注意到你指的是Operating Cash flow不是Net Operating Cash flow。原料和其他费用是去年的啦,新的一年还是要继续还的。去年留下来的原料能够在今年用多久?工资去年给了难道今年不用?Capital Expenditure也是去年花了的。理论上是可以给236cent,但公司肯定不会给那么多毕竟他们还是需要钱来扩张生意。
如果全部都派出去的话,几年大家就会指责他们为什么营业额,净利和净现金流的成长那么缓慢。

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发表于 2012-4-1 07:01 | 显示全部楼层
本帖最后由 yeah 于 2012-4-1 07:18 编辑
回复  yeah
抱歉没注意到你指的是Operating Cash flow不是Net Operating Cash flow。原料和其他费用是去年 ...
lmenwe 发表于 2012-4-1 03:55


那你应该去明白什么是operating cash flow哦。。
那个236cent是假设在在如果盈利跟2011年相近。。大约的Capital Expenditure 10,882M。。 Dlady就有能力派236cent
你要看完清楚整篇跟明白什么operating cash flow时再来讨论, 不然别人认为你来在里是玩玩的

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发表于 2012-4-1 08:06 | 显示全部楼层
回复 174# lmenwe


    买货的钱那些叫working capital。。cash flow 是整年收到的钱

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发表于 2012-4-1 10:01 | 显示全部楼层
回复 175# yeah
谁说我不明白?Operating Cashflow = Net Profit + Non Cash Item - Working Capital。一年收到的营运现金当然是扣除了一切的费用包括了原料,工资等等。
没错2012年肯定比2011年更多Operating Cashflow,但是公司肯定不会把全部的钱分掉。毕竟公司还是需要钱来扩充。如果你说接下来的dividend会越来越高,这个我赞成,毕竟每年那么多现金入账,所需的capex和interest才那么一点点。
理论上公司当然可以把钱分完,毕竟Capital Expenditure才那么低。不过在现实中公司再怎么慷慨都不可能分完的。

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发表于 2012-4-1 12:09 | 显示全部楼层
You have to understand the cashflow & fundamental first.. If not we cant discuss further about t ...
yeah 发表于 2012-4-1 11:42



    Maybe you can explain more and give a lesson to all newbie out there ^^

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发表于 2012-4-1 13:09 | 显示全部楼层
Waiting for my SiFu Vincent1983 to explain ^^.
yeah 发表于 2012-4-1 13:00



    so dont forget to ask your sifu to do so

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发表于 2012-4-1 17:23 | 显示全部楼层
本帖最后由 yeah 于 2012-4-1 17:50 编辑
回复  yeah
1)Operating Cashflow已经扣了tax,所以没必要再扣了。 还有如果要算公司流入多少现金,不可以忘了扣利息支出。
公司入账236cent是没错,但公司肯定没办法派那么多钱。公司还是需要资本扩充买原料,维修机器,付工资等等开销。不过这确实证明了它还有派更多钱的本事!

2)抱歉没注意到你指的是Operating Cash flow不是Net Operating Cash flow原料和其他费用是去年的啦,新的一年还是要继续还的。去年留下来的原料能够在今年用多久?工资去年给了难道今年不用?Capital Expenditure也是去年花了的。理论上是可以给236cent,但公司肯定不会给那么多毕竟他们还是需要钱来扩张生意。
如果全部都派出去的话,几年大家就会指责他们为什么营业额,净利和净现金流的成长那么缓慢。

3)谁说我不明白?Operating Cashflow = Net Profit + Non Cash Item - Working Capital。一年收到的营运现金当然是扣除了一切的费用包括了原料,工资等等
没错2012年肯定比2011年更多Operating Cashflow,但是公司肯定不会把全部的钱分掉。毕竟公司还是需要钱来扩充。如果你说接下来的dividend会越来越高,这个我赞成,毕竟每年那么多现金入账,所需的capex和interest才那么一点点。
理论上公司当然可以把钱分完,毕竟Capital Expenditure才那么低。不过在现实中公司再怎么慷慨都不可能分完的

lmenwe 发表于 2012-3-31 21:27


不好意思。今天加班加到现在才回来所以没有好好的回你。。

首先你要看看这张图。



A 红圈 的是 188,290 是已经扣完了你所谓要扣的原料和其他费用& 工资。 188,290/64,000 = 294cents (回应你红色的疑点)

B 蓝圈 的是 26,350 是要给的tax。  26,350/64,000 = 41.2 cents( 回应你蓝色的疑点)
C 青圈 的是 10,882 是Dlady 2011的CAPEX。 10,882/64,000=  17 cents (回应你青色的疑点)

294cents-41.2 cents-17 cents= 235.8Cents. 那个贴的作者认为DLADY有能力会派235.8Cents。。 而你第一帖的认为DLADY没办法派那么多钱, 到你的第三贴的认为DLADY没这么慷慨 (回应你紫色的疑点)。。 那你懂DLADY去年赚了多少跟派了多少吗?

如果真的是派235.8Cents。 他还会剩 D 圈  193,143/64,000 = RM3左右。。 你认为不够吗?不要忘记2010年他们才省86,000/64,000 = RM1.35左右而已 在2011年他们还可以赚这么多

假设2012DLADY的盈利更现金流都跟2011一样。。 假设他2012没派钱。那年未他会剩多少钱?

不好意思不懂怎么表达。 希望你明白

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