CARIMIN VERSUS DAYANG: Both Oil & Gas Service Provider(Compare and Contrast Similarities & Differences) Calvin Tan Research




Dear Friends of i3 Forum

On January 26th 2018 I called for a buy on Carimin at 39 sen
See
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Author: calvintaneng   |   Latest post: Sun, 10 Feb 2019, 12:14 AM   |  >> Go to Blog Dashboard
  

TOP 10 REASONS WHY CARIMIN PETROLEUM IS NOW A STRONG BUY (Calvin Tan Research)

Author:   |    Publish date: 
Fri, 26 Jan 2018, 11:41 AM 

TOP 10 REASONS FOR BUYING CARIMIN PETROLEUM
 
1) AT 39 SEN CARIMIN HAS FALLEN BY 65% FROM ITS RM1.10 IPO PRICE.
BUYING CARIMIN NOW IS BUYING AT HUGE DISCOUNT TO IPO PRICE.
 
2) MARGIN OF SAFETY
At 39 sen with NTA of 67 Sen Carimin is selling at a nice Discount of 42%. This meets Ben Graham criteria of 30% Discount To NTA as a Margin of Safety.

Today is February 10th 2019. So in another 16 days it will be my 1st Anniversay buy call for Carimin

The current price for Carimin is up over 100% at 87.5 sen due to renewed frenzied interest in Oil & Gas Counters turnaround

Now I hope all i3 Forumers will trade carefully & not get carried away. 
I have picked this Topic: Carimin Versus Dayang to compare their current prices & prospects

1) BOTH CARIMIN & DAYANG ARE IN THE SAME INDUSTRY. SO THE TURNAROUND IN CARIMIN FORTUNE IS ALSO REFLECTED IN DAYANG'S QUARTERLY REPORT


See Carimin table of contents

SUMMARY OF KEY FINANCIAL INFORMATION
30 Sep 2018

 
INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
30 Sep 2018
30 Sep 2017
30 Sep 2018
30 Sep 2017
$$'000
$$'000
$$'000
$$'000
1 Revenue
84,087
24,734
84,087
24,734
2 Profit/(loss) before tax
11,643
-72
11,643
-72
3 Profit/(loss) for the period
11,529
-183
11,529
-183
4 Profit/(loss) attributable to ordinary equity holders of the parent
11,716 (13.8% profit)
-277
11,716
-277
5 Basic earnings/(loss) per share (Subunit)
5.01
-0.12
5.01
-0.12
6 Proposed/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 ($$)
0.6207
0.5706
 


Below is the Qtr report of Dayang

SUMMARY OF KEY FINANCIAL INFORMATION
30 Sep 2018

 
INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
30 Sep 2018
30 Sep 2017
30 Sep 2018
30 Sep 2017
$$'000
$$'000
$$'000
$$'000
1 Revenue
281,933
212,803
651,993
521,730
2 Profit/(loss) before tax
67,736
14,804
88,791
-57,547
3 Profit/(loss) for the period
51,335
747
46,727
-92,508
4 Profit/(loss) attributable to ordinary equity holders of the parent
48,754 (17.3% profit)
1,122
66,498
-89,681
5 Basic earnings/(loss) per share (Subunit)
5.05
0.12
6.89
-9.67
6 Proposed/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 ($$)
1.0700
0.9900
 


Now Let's Compare & Contrast

1) Carimin was 39 sen on 26 January 2018 & Dayang was 83 sen on that day
Currently Carimin is 87.5 sen while Dayang is only 68 sen

2) Carimin made 5.01 sen while Dayang made 5.05 sen. Both nearly the same good profit turnaround

3) In percentage Carimin made 13.8% while Dayang made 17.3%. Dayang is winner here!

4) Carimin is 87.5 sen with NAV of 62.07 Sen while Dayang is 68 sen with NAV of Rm1.07
Ben Graham requires 30% discount to NTA. So Dayang at 68 sen with NTA of Rm1.07 still got margin of safety (37%  Discount. Dayang wins again!

5) Let's go into the Top 30 shareholders of Carimin & Dayang

CARIMIN (Refer to AR)
THIRTY LARGEST SECURITIES ACCOUNT HOLDERS AS AT 28 SEPTEMBER 2018 (without aggregating the securities from different securities accounts belonging to the same registered holder) No Name No. of Shares held %
1 Mokhtar Bin Hashim 58,870,234 25.17
2 AMSEC Nominees (Tempatan) Sdn. Bhd. (Pledged securities account for AmBank (M) Berhad for Cipta Pantas Sdn. Bhd.) 40,710,128 17.41
3 Alliancegroup Nominees (Tempatan) Sdn. Bhd. (Pledged securities account for Platinum Castle Sdn. Bhd.) 15,000,000 6.41
4 Maybank Nominees (Tempatan) Sdn. Bhd. (Maybank Private Wealth Management for Gan Hai Toh) 8,600,000 3.68
5 Emas Kiara Marketing Sdn. Bhd. 8,300,000 3.55
6 Tan Sri Dato’ Kamaruzzaman Bin Shariff 8,000,000 3.42
7 AMSEC Nominees (Tempatan) Sdn. Bhd. (Pledged securities account for AmBank (M) Berhad for Lim Yew Hoe) 6,078,000 2.60
8 Shatar Bin Abdul Hamid 6,039,638 2.58
9 Maybank Nominees (Tempatan) Sdn. Bhd. (Pledged securities account for Gan Hai Toh) 5,216,000 2.23
10 Intan Kuala Lumpur Sdn. Bhd. 4,727,000 2.02
11 Maybank Nominees (Tempatan) Sdn. Bhd. (Pledged securities account for Shatar Bin Abdul Hamid) 3,078,500
12 Platinum Castle Sdn. Bhd. 2,000,000 0.86
13 Muhammad Hatta Bin Noah 1,593,100 0.68
14 Wong Wei Choy 1,520,000 0.65
15 Maybank Nominees (Tempatan) Sdn. Bhd. (Pledged securities account for Shaharool Nizam Bin Mohd Kassim) 1,380,200 0.59
16 Maybank Nominees (Tempatan) Sdn. Bhd. (Pledged securities account for Che Nor Rubiah Binti Md Nawi) 1,369,900 0.59
17 Lee Choon Boey 1,021,900 0.44
18 Kenanga Nominees (Tempatan) Sdn. Bhd. (Rakuten Trade Sdn. Bhd. for Er Soon Puay) 1,000,000 0.43
19 Lee Chee Hong 1,000,000 0.43
20 Maybank Nominees (Tempatan) Sdn. Bhd. (Maybank Private Wealth Management for Lim Yew Hoe) 1,000,000
21 Tai Hooi Kheng 1,000,000 0.43
22 Alliancegroup Nominees (Tempatan) Sdn. Bhd. (Pledged securities account for Piong Yon Wee) 914,300 0.39
23 Poh Pek Boon 900,000 0.38
24 Lee Man Fah 750,000 0.32
25 Teo Chin Siong 745,500 0.32
26 Denis Sia Hook Hua 706,000 0.30
27 Kok Siew Leng 600,000 0.26
28 CIMSEC Nominees (Tempatan) Sdn. Bhd. (CIMB Bank for Tan Chong Wah) 549,000 0.23
29 Tang Chooi Lean 530,000 0.23
30 Yap Cho Leung 520,000

Top holder of Carimin is
1 Mokhtar Bin Hashim with 58.870 million shares of Carimin at 25.17%
2 more are Cipta Pantas & Platinum Castle Sdn Bhd
Many are individual holders.

Let's go to Dayang now
. TOP THIRTY SHAREHOLDERS (Without aggregating securities from different securities accounts belonging to the same Registered Holder) No Name No of shares held %
1. CIMSEC Nominees (Tempatan) Sdn Bhd  CIMB for Naim Holdings Berhad (PB) 131,921,952 13.67
2. Kumpulan Wang Persaraan (Diperbadankan) 110,086,300 11.41
3. Naim Holdings Berhad 82,500,000 8.55
4. Lembaga Tabung Haji 76,367,600 7.92
5. Tengku Dato’ Yusof Bin Tengku Ahmad Shahruddin 65,916,675 6.83
6. Datuk Ling Suk Kiong 44,349,130 4.60
7. Naim Holdings Berhad 40,500,000 4.20
8. Vogue Empire Sdn Bhd 32,718,187 3.39
9. Kenanga Nominees (Tempatan) Sdn Bhd 28,900,000 2.99 Datuk Ling Suk Kiong
10. Vogue Empire Sdn Bhd 28,500,000 2.95
11. Kenanga Nominees (Tempatan) Sdn Bhd 21,073,200 2.18 Joe Ling Siew Loung @ Lin Shou Long
12. Joe Ling Siew Loung @ Lin Shou Long 17,812,500 1.85
13. Lembaga Tabung Angkatan Tentera 13,192,250 1.37
14. Malaysia Nominees (Tempatan) Sendirian Berhad 10,754,300 1.12 Great Eastern Life Assurance (Malaysia) Berhad (LSF)
15. Malaysia Nominees (Tempatan) Sendirian Berhad 9,400,000 0.97 Great Eastern Life Assurance (Malaysia) Berhad (LPF)
16 Malaysia Nominees (Tempatan) Sendirian Berhad 9,084,000 0.94 Great Eastern Life Assurance (Malaysia) Berhad (LEEF)
17. Cartaban Nominees (Tempatan) Sdn Bhd 6,092,000 0.63 RHB Trustees Berhad For Manulife Investment Shariah Progress Fund
18. Citigroup Nominees (Tempatan) Sdn Bhd 5,747,300 0.60 Kumpulan Wang Persaraan (Diperbadankan) (I-VACP)
19. Malaysia Nominees (Tempatan) Sendirian Berhad 4,012,200 0.42 Great Eastern Life Assurance (Malaysia) Berhad (DR)
20. Citigroup Nominees (Tempatan) Sdn Bhd 3,484,700 0.36 Kumpulan Wang Persaraan (Diperbadankan) (AFFIN HWANG SM CF)
21. CIMB Group Nominees (Tempatan) Sdn Bhd 3,391,300 0.35 Exempt An For Petroliam Nasional Berhad (AFFIN)
22. CIMSEC Nominees (Tempatan) Sdn Bhd 3,300,000 0.34 CIMB Bank For Tan Boon Ping (M51034)
23. Maybank Nominees (Tempatan) Sdn Bhd 3,169,100 0.33 Exempt An For Maybank Islamic Asset Management Sdn Bhd (Resident) (475391)
24. Burhanuddin Bin Md Radzi 3,095,280 0.32
25. Malaysia Nominees (Tempatan) Sendirian Berhad 3,036,500 0.31 Great Eastern Life Assurance (Malaysia) Berhad (PAR 1)
26. Cheng Ah Teck @ Cheng Yik Lai 3,000,000 0.31
27. Amanahraya Trustees Berhad (AFFIN Hwang Growth Fund) 2,964,300 0.31
28. Maybank Nominees (Tempatan) Sdn Bhd 2, 870,000 0.30 Maybank Trustees Berhad for RHB Capital Fund
29. Joe Ling Siew Loung @ Lin Shou Long 2,578,125 0.27
30. Citigroup Nominees (Tempatan) Sdn Bhd 2,500,000 0.26 Kumpulan Wang Persaraan (Diperbadankan) (Amundi SC EQ)

This one looks interesting

NAIM is Top holder in slot 1, 3 & 7 with 25.492 millions Dayang shares at 26.35%
At 68 sen that means NAIM has Rm173.3 Millions in Dayang

Great Eastern Life also in top 14, 15, 16, 19 & 25th positions

Others are Manulife, Rhb Capital Fund, AFFIN Hwang Growth Fund, Maybank Islamic Asset Management, Kumpulan Wang Pasaran (Whoa! So many Insurance Cos & Unit Trust Funds depend on Dayang.)

See this one

21. CIMB Group Nominees (Tempatan) Sdn Bhd 3,391,300 0.35 Exempt An For Petroliam Nasional Berhad (AFFIN)
WAHAHA!! PETRONAS (PNB) IS ALSO INSIDE DAYANG TOP 30


Why Is Calvin so bullish in O&G Counters?

Answer:

Coming Up Next

THE COMPLETION OF PENGERANG'S RAPID WILL CAUSE A BULL RUN IN CERTAIN O&G SUPPORTING STOCKS
Stay tuned....

BEST REGARDS

Calvin Tan Research

See this Qtr Result of Naim again

SUMMARY OF KEY FINANCIAL INFORMATION
30 Sep 2018

 
INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
30 Sep 2018
30 Sep 2017
30 Sep 2018
30 Sep 2017
$$'000
$$'000
$$'000
$$'000
1 Revenue
178,760
53,654
438,949
260,950
2 Profit/(loss) before tax
33,865
-86,065
31,128
-118,094
3 Profit/(loss) for the period
30,530
-94,828
24,505
-130,385
4 Profit/(loss) attributable to ordinary equity holders of the parent
30,323 (17% profit)% 
-95,014
23,398
-130,949
5 Basic earnings/(loss) per share (Subunit)
12.80
-40.10
9.87
-55.27
6 Proposed/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 ($$)
4.2800
4.1800
 

SEE AGAIN
NAIM HAS ALMOST 17% NET PROFIT
HIGHEST EPS OF 12.8 SEN COMPARED TO CARIMIN AND DAYANG COMBINED (5.01 & 5.05 = 10.06 SEN)


AND BIGGEST PRICE TO ASSET DISCOUNT
Some time ago WHEN NAIM WAS TRADED AT RM1.60 DAYANG WAS RM1.00
NOW DAYANG IS 68 SEN WHILE NAIM IS 61.5 SEN
QUESTION NOW IS WHAT WILL NAIM SHARE PRICE BE IF BOTH CARIMIN & DAYANG CONTINUE TO SURGE IN PRICES??

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