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[公司专区] 5139 Aeon Credit 永旺信貸

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x 0
发表于 2011-7-27 15:36 | 显示全部楼层
根据年报,在经济低迷时,AEONCR的生意更好。还有就是,AEONCR的market基本上是本土的,债务危机和美国的负债问题,基本上对AEONCR 没影响,除非马来西亚:

1. 失业率高企及经济崩盘。
2. consumer spending slow down.

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x 0
发表于 2011-7-27 18:01 | 显示全部楼层
報導:邱佩勛

 (吉隆坡27日訊)非銀行的金融機構獲利成長更佳,但估值遠低于銀行股,券商認為,在優越基本面和潛在併購活動催化下,這些金融股下半年有望重估。

 肯納格證券研究指出,比起銀行股,其他金融股項仍明顯折價交易。

 該行在報告指出,大部分銀行在過去兩年已大幅重估,股價因不俗的每股盈利預測攀升了59%。

 該行指出,銀行股目前看來更貴,目前以超過14倍的預期本益比在交易,其他金融股預期本益比僅5倍,但盈利預計將成長17%。

 為此,肯納格證券研究上修非銀行金融股的投資評級至“增持”,首選永旺信貸(AEONCR,5139,主要板金融)和馬建屋(MBSB,1171,主要板金融)。

收益看俏

 該行也建議,短線買入東太平(P&O,6009,主要板金融)。

 “這3隻股項是國內私人開銷趨升的受惠者。再者,這些公司的業務性質可受惠于我國不俗的宏觀經濟成長(5.7%)和強勁的信貸成長(13%至15%)。”

 該行指出,這3家公司各佔據穩固的利基市場,且零售觸角強勁。

 永旺信貸已強化大眾消費者信用市場的地位,馬建屋則享有獨家的公務員薪資直接扣除貸款制。

 東太平也具備優勢,在摩哆保險市場佔有53%份額。

 除了業務成長強勁,這3家公司今明兩個財年的盈利成長率介于15%至48%,高于銀行股的10%至15%成長率。

 除了獲利成長和基本面佳,該行相信,馬建屋和東太平可能因併購活動而獲得重估。


其他金融股走勢
股項        評級         目標價        閉市價
(令吉)        波動
(仙)
永旺信貸         維持買入         上修至7.30        4.91         -1
馬建屋         維持買入         維持2.40        1.44         +1
東太平         無評級        1.10         0.77         -

source: http://www.chinapress.com.my/node/237738

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x 0
发表于 2011-9-19 18:46 | 显示全部楼层
公司即将在 21号公布业绩, 从股价的反映,应该是impressive 的, dividend 估计在于12cents. to 15cents... , net profit target RM18,500,000 to RM20,000,000, eps range between 14 cents - 16.5 cents

hope my prediction is correct for the company

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x 0
发表于 2011-9-21 18:48 | 显示全部楼层
EPS: 19.54(current) vs 12.32(last year same quarter),
Dividend:13.20(single tier current) vs 11.50 (-25% tax last year same quarter)

fuyoh , 漂亮 。日本的管理班底,就是厉害。。。 Bravo!

http://announcements.bursamalays ... 393D6C?OpenDocument

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x 178
发表于 2011-9-21 19:52 | 显示全部楼层
Company Name
:
AEON CREDIT SERVICE (M) BERHAD  
Stock Name
:
AEONCR  
Date Announced
:
21/09/2011
Financial Year End
:
20/02/2012
Quarter
:
Other
Quarterly report for the financial period ended
:
20/08/2011
The figures
:
have not been audited

Currency
:
Malaysian Ringgit (MYR)

SUMMARY OF KEY FINANCIAL INFORMATION
20/08/2011

INDIVIDUAL PERIOD
CUMULATIVE PERIOD
Three Mths
Three Mths
Six Mths
Six Mths
21/05/2011
21/05/2010
21/02/2011
21/02/2010
To
20/08/2011
To
20/08/2010
To
20/08/2011
To
20/08/2010
$$'000
$$'000
$$'000
$$'000
1Revenue
83,035
64,739
160,185
127,697
2Profit/(loss) before tax
31,522
19,816
57,307
37,517
3Profit/(loss) for the period
23,453
14,783
42,636
27,985
4Profit/(loss) attributable to ordinary equity holders of the parent
23,453
14,783
42,636
27,985
5Basic earnings/(loss) per share (Subunit)
19.54
12.32
35.53
23.32
6Proposed/Declared dividend per share (Subunit)
13.20
11.50
13.20
11.50








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 ($$)
2.5300
2.3500

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x 474
发表于 2011-9-22 15:35 | 显示全部楼层
永旺信貸淨利報2345萬
企業21/09/2011 23:10 Share  轉寄 列印 字体:.Send to friend

 (吉隆坡21日訊)永旺信貸(AEONCR,5139,主要板金融)截至今年8月20日的3個月,淨利達2345萬令吉,按年增幅達59%。

 該公司同時宣佈派息每股13.2仙。

 永旺信貸同期營業額按年揚升28%,報8304萬令吉。

 截至8月20日的6個月,該公司淨利錄得4264萬令吉,按年增幅52%;營業額按年揚升25%,報1億6019萬令吉。

 永旺信貸在報備文件中指出,大馬內需持續強勁,隨著下半年更多公共領域工程的釋出,進一步帶動經濟成長,公司業務亦可因此受惠。

http://www.chinapress.com.my/node/253251

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x 52
发表于 2011-9-22 19:25 | 显示全部楼层
AEON Credit up on solid earnings        

KUALA LUMPUR: AEON CREDIT SERVICE (M) BHD [] shares rose on Thursday, Sept 22 after OSK Research maintained its Buy call on the stock at RM4.55 and raised its fair value to RM5.95 from RM5.40.

At 10.40am, AEON Credit rose 15 sen to RM4.70 with 32,800 shares traded.

OSK Research said on Thursday, Sept 22 that AEON Credit’s 1HFY12 earnings were above consensus and its full-year forecasts, representing 54.8% and 59.1% of consensus and its full-year forecasts.

Revenue and net profit increased by 25.5% and 52.1% respectively y-o-y, mainly underpinned by higher growth in personal financing (+81%), credit card (+65%) and easy payment schemes (+12.9%) in conjunction with an early Hari Raya festival.

“Asset quality remained strong, with non-performing loans (MPL) improving to 1.64% (1Q12: 1.77%) and CAR stood at 22.2%. A 13.2 sen interim single tier dividend was proposed this quarter. Maintain BUY call on AEON Credit, with a revised fair value of RM5.95,” it said.

http://www.theedgemalaysia.com/b ... olid-earnings-.html

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x 52
发表于 2011-9-22 19:31 | 显示全部楼层
OSK Research maintains Buy on AEON Credit      
  
KUALA LUMPUR: OSK Research is maintaining its Buy call on AEON Credit at RM4.55 with fair value at RM5.95.

It said on Thursday, Sept 22 that AEON Credit’s 1HFY12 earnings were above consensus and its full-year forecasts, representing 54.8% and 59.1% of consensus and its full-year forecasts.

Revenue and net profit increased by 25.5% and 52.1% respectively y-o-y, mainly underpinned by higher growth in personal financing (+81%), credit card (+65%) and easy payment schemes (+12.9%) in conjunction with an early Hari Raya festival.

“Asset quality remained strong, with non-performing loans (MPL) improving to 1.64% (1Q12: 1.77%) and CAR stood at 22.2%. A 13.2 sen interim single tier dividend was proposed this quarter. Maintain BUY call on AEON Credit, with a revised fair value of RM5.95,” it said.

http://www.theedgemalaysia.com/b ... on-aeon-credit.html

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发表于 2011-9-22 23:55 | 显示全部楼层
券商買進心頭好.下跌風險低派息穩 永旺信貸標準防禦型股項
股市22/09/2011 20:46
Share

轉寄 列印 字体:
券商:黃氏星展唯高達研究
目標價:5.70令吉
永旺信貸(AEONCR,5139,主要板金融)屬于防禦型兼具派息股項,低外資持股率限制股價下跌空間。

 該公司在消費者微型信貸擁有本身的利基市場,由于國內信貸需求漸高,其利基市場對公司為一大輔助。

 永旺信貸昨日發佈的次季業績表現符合預期,在信用卡和個人融資業務增長下,還宣佈每股派息13.2仙。

 公司旗下信用卡卡戶平均消費亦有所增長,從去年每張卡每月消費500至600令吉,增至600至700令吉。

 我們認為,永旺信貸2012至2013財年的淨派息率可高達5至6%,是標準防禦型股項,值得投資。

 再者,目前該股外資持股權大約是10%,此市道下有助限制股價的下行風險,股價不至大挫,因此決定上修股項評級至“買進”。

 受業績報捷、派息消息刺激,永旺信貸今日股價走勢強勁,開市即揚9仙至4.64令吉,早盤最高漲23仙至4.78令吉。

 休市時,該股以15仙漲幅位列上升股之首,掛4.70令吉;閉市收4.70令吉,起15仙,成交量27萬8400股。

src=http://www.chinapress.com.my/node/253490

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x 52
发表于 2011-9-24 09:10 | 显示全部楼层
AEON Credit Service shows sustainable growth momentum      
  
AEON Credit Service (M) Bhd
(Sept 22, RM 4.70)
Upgrade to buy with target price raised to RM5.70 (based on CY12 price-earnings ratio of seven times): AEON Credit’s 2QFY12 net profit surged 59% year-on-year (y-o-y) to RM23.5 million, representing 52% of our initial full-year forecast of RM82.5 million. This was on the back of 28% growth in revenue to RM83 million, mainly driven by credit card (CC: +74% to RM15.2 million) and personal financing (PF: +85% to RM10.3 million).

General easy payment (GEP) and motorcycle easy payment (MEP) remain the breadwinners, contributing 69% to group revenue. Earnings before interest and tax (Ebit) margin improved eight percentage points y-o-y and five pps quarter-on-quarter (q-o-q) to 50.6% (against 2QFY11: 42.5%; 1QFY12: 45.5%) lifted by better operating efficiencies. AEON Credit declared a first interim net dividend per share of 13.2 sen (54% of our full-year expectation of 24.3 sen), which implies a 2.9% yield.

We have tweaked our FY12F to FY14F earnings up by 1% to 7% to factor in stronger loan growth. AEON Credit’s 1HFY12 new loans grew 60% y-o-y to RM805 million against our previous assumption of +9.4% y-o-y. Stronger lending momentum was seen in three key segments: MEP (+41.2% y-o-y to RM186 million), CC (+93% y-o-y to RM363 million) and PF (+132% y-o-y to RM83 million). However, given the growing uncertainties on global credit issues, in our revised forecasts, we have factored in 28% y-o-y growth in new loans to RM1.5 billion in FY12F as we expect loan growth to be slower in 2HFY12.

AEON Credit is a defensive play backed by its 5% to 6% net dividend yield in FY12F/FY13F with undemanding price-earnings ratio of less than seven times and low foreign shareholding (about 10%) which should help to limit share price downside risk. We upgrade AEON Credit to “buy” (from “hold”) with a higher target price of RM5.70 based on seven times CY12 (from FY12) earnings per share as we roll over our valuation window. We like AEON Credit for its niche in micro credit consumer financing, riding on rising domestic credit demand. — Hwang DBS Vickers Research, Sept 22

http://www.theedgemalaysia.com/i ... rowth-momentum.html

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发表于 2011-9-28 12:19 | 显示全部楼层
An extremely undervalued gem to buy at this time of volatility,
syndicate constantly supporting the price > RM 4.50

Pluses:
1. Personal financing sector robust: extremely high growth. 50++% growth in net profit y/y + 30++% growth in loan book. Consistent growth since IPO in 2007 (even during crisis)

2. Reasonable dividend: consistent 50% less 25% tax payout

3. Prudent management, low leverage compared to other financials, low & decreasing non-performing loan

4. Unreasonably low valuation, Trailing P/E of 7.2X at EPS of 0.65. Based on projected EPS (last quarter EPS RM0.19 *4 = 0.76), even lower, @ 6.18X!

5. Strong backing from its Japan mother & sister company: Aeon the retailer

Risk:
1. More stringent government regulation towards the sector

2. Operation margin prone to bad debt level

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x 0
发表于 2011-10-22 21:04 | 显示全部楼层
本帖最后由 cht 于 2011-10-22 21:09 编辑

http://www.nanyang.com.my/node/384740

永旺信贷 个人贷款业务强劲
行家论股  2011-09-22 19:17

1 of 2
目标价:5.95令吉
最新进展
永旺信贷(AeonCr,5139,主板金融股)的2012财年首半年盈利,超出侨丰投资研究以及其他券商的全年预测,分别占全年预测的59.1%及54.8%。
该公司建议,派发每股13.2仙中期股息,比上财年同期的8.6仙剧增53%。
盘点分析
鉴于永旺信贷的个人贷款和信用卡业务取得强劲增长,因此,我们将2012财年和2013财年预测,分别上修10.3%及10.7%。
此外,该公司的资产素质仍保持强稳,呆账为1.64%(2012财年首季为1.77%),资本与有风险资产比率(CAR)为22.2%。
我们继续看好这只股项,因为它的财务表现稳固以及有诱人的周息率。

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x 7
发表于 2011-11-15 11:11 | 显示全部楼层

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x 91
发表于 2011-11-15 21:00 | 显示全部楼层
回复  rm1


    where to get the osk report? non osk member eligible for that?
secret 发表于 2011-11-15 20:53


U can try in this website.

http://klse.i3investor.com/servlets/ptg/5139.jsp

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x 91
发表于 2011-11-15 21:13 | 显示全部楼层
回复  vincent1983


    ya. all the reports is really there. It save time to go to looking for t ...
secret 发表于 2011-11-15 21:07


Welcome

I think this website also useful. Just type the company name, it will list up the 3 years financial report, easy for us to make comparison year by year.

http://msn.finance.com.my/index.php/stock/5139.KL

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x 0
发表于 2011-11-15 21:47 | 显示全部楼层
AEONCR要趕去坐AEON的隔壁...

RM7.00
vincent1983 发表于 2011-11-15 21:01


AEONCr和AEON平起平坐也很正常
AEON每季盈利八到九仙,AEONCr每季盈利十九仙。
AEON股息二点多巴仙,AEONCr股息五点多巴仙。
AEONCr下来几年的成长〉〉AEON
除了行业风险较大之外,完全没有别的原因有这种现象。

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x 0
发表于 2011-11-15 21:49 | 显示全部楼层
那个是很够力的价格,虽然以目前涨势来看,可能不到2个星期就RM6了。够力,我刚刚才进去,别有什么冬瓜 ...
无聊人 发表于 2011-11-15 20:46


希望它上到RM6.00++,
下个月再出一个很够力的业绩.
我的生平第一桶金就靠它了。。。

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x 91
发表于 2011-11-15 22:23 | 显示全部楼层
AEONCr和AEON平起平坐也很正常
AEON每季盈利八到九仙,AEONCr每季盈利十九仙。
AEON股 ...
andrew90 发表于 2011-11-15 21:47

前兩季的revenue和profit都取得不錯的成長,相信下兩季也是.

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x 5176
发表于 2011-11-28 19:55 | 显示全部楼层
本帖最后由 Dudu 于 2011-11-28 21:26 编辑
npl降低,未必是好事,首先你要知道npl rate计算是怎么来的。

当default rate越来越高时,他们可以干脆把 ...
tcs 发表于 2009-9-22 23:18



Tcs版主兄, 请问NPL rate 是如何计算?我找不到数据计算。(以Aeoncr 的 2010年报计)
什么事default rate,可以以Aeoncr 的 2010年报计算吗?

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x 935
发表于 2011-11-28 21:38 | 显示全部楼层
本帖最后由 tcs 于 2011-11-28 21:58 编辑
Tcs版主兄, 请问NPL rate 是如何计算?我找不到数据计算。(以Aeoncr 的 2010年报计)
什么事defau ...
Dudu 发表于 2011-11-28 19:55



因为事情隔太久,我也忘了怎么算,但是前面的帖子已经有公式了。我去找找。。。。


在这:
http://www.investalks.com/forum/ ... 1914&highlight=

你可以跳到这:
http://www.investalks.com/forum/ ... =1914&pid=78128


什么是default rate。
比如在100块的放贷里,假设有5块是收不回的,那default rate就是5%了。

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