CANONE (5105) - Stocks With Momentum: Can-one
CAN-ONE Bhd (+ve)
CAN-ONE (Fundamental: 0.8/3; Valuation: 1.2/3) manufactures tin cans, jerry cans, and dairy products. The company’s most valuable asset is its 32.9% stake in Kian Joo Can Factory Bhd (Kian Joo), which has a market capitalisation of RM1,323.6 million.
In 2013, Can-One proposed to sell its stake in Kian Joo to Aspire Insight — controlled by EPF and Kian Joo’s Chief Operating Officer Chee Khay Leong — for RM1.47 billion. The sale has, however, been stalled by legal suits, and is now pending a hearing in the Court of Appeal in April.
Can-One released its results for 2014 on Thursday. Revenue increased by 16.3% y-y to RM898.9 million but net profit dropped 8.5% y-y to RM63.8 million due, mainly, to higher production costs and excess capacity. Gearing was relatively high at 80.7%.
A first and final dividend of 5 sen per share was proposed, translating into a yield of 2.1%.
http://www.theedgemarkets.com
CAN-ONE Bhd (+ve)
CAN-ONE (Fundamental: 0.8/3; Valuation: 1.2/3) manufactures tin cans, jerry cans, and dairy products. The company’s most valuable asset is its 32.9% stake in Kian Joo Can Factory Bhd (Kian Joo), which has a market capitalisation of RM1,323.6 million.
In 2013, Can-One proposed to sell its stake in Kian Joo to Aspire Insight — controlled by EPF and Kian Joo’s Chief Operating Officer Chee Khay Leong — for RM1.47 billion. The sale has, however, been stalled by legal suits, and is now pending a hearing in the Court of Appeal in April.
Can-One released its results for 2014 on Thursday. Revenue increased by 16.3% y-y to RM898.9 million but net profit dropped 8.5% y-y to RM63.8 million due, mainly, to higher production costs and excess capacity. Gearing was relatively high at 80.7%.
A first and final dividend of 5 sen per share was proposed, translating into a yield of 2.1%.
