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Visit our website for more sectors and companies research : https://jawplace.com/2020-week-51-markets-review/

What Happened This Week

As expected, the market was mostly down with profit taking after the substantial rally in the prior weeks. As always, there are crazy moves up fueled by speculations.

Perak Corp (8346) was up 171% this week on disposing a number of properties with a total NAV of RM 22.4 million for RM 78.7 million. The proceeds will be used to reduce its borrowings by RM70.8 million, netting the company RM 7.9 million. The company is also settling its liabilities with creditors by way of cash payment and issuance of redeemable preference shares. How much of the RM 3.5 million that flow into the thinly traded shares of the company truly understands the proposed corporate exercise?

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Cheetah (7209) was up 61% this week on the back of being a cheetah (i.e. there is no publicly announced developments). We wonder who wears their ugly clothing line?

Ralco (7498) was up 59% this week, further fueled by Bursa’s UMA slap on Thursday, which management responded that they are unaware of any developments or rumours.

Bursa Malaysia indices ended the week lower by 1.6% to 1.9%.

What We Are Watching For Next Week

We expect the market to be slightly up next week after the profit taking this week. KLCI is still on trend to potentially close the year at 1,700 points. Nothing much that we are watching as we wind down for the Christmas and Year End holidays season.

We are engaging our members with our views and strategy for 2021 this weekend. We will be opening up slots to accept new members some time early next year. Stay tuned.

This Week Top 25 Most Active Stocks

By Volume

By Value

Year-to-date (YTD) Top 25 Gainers

Year-to-date (YTD) Top 25 Losers

This Week Earnings Results Released

20 companies announced their latest quarter results.

VS Industry (6963) announced its Q1FY2021 results. Comparing against Q1FY2020, revenue was down 5%, profit was up 38%. Cumulative Free Cash Flow turned positive. Comparing against the immediate preceding quarter, revenue was up 12%, profit was up 22%. The better results were due to narrower losses in its China operations and better revenue in its Indonesia operations.

The company has secured a number of order to fill up its existing capacity by 2021. In order to expand its capacity, it has acquired 6 pieces of land with industrial buildings in Johor for close to RM100 million.

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Scientex (4731) announced its Q1FY2021 results. Comparing against Q1FY2020, revenue was down 9%, profit was up 14%. Cumulative Free Cash Flow was down 5%. Comparing against the immediate preceding quarter, revenue was down 16%, profit was down 35%. The poorer performance was due to lower progress billings recognised for the property division which saw the completion of several development phases.

On its packaging business, Scientex focuses expanding its niche markets globally while strengthening its operational efficiencies and accelerating greater technical and product innovation. Management remain cautiously optimistic for the packaging division driven by stable demand. On its property business, Management remains focused on the affordable housing segment and will continue to explore and source for more competitively priced landbanks as part of its overall strategy to expand its footprint and branding for its affordable housing products throughout Peninsular Malaysia.

Astino (7162) announced its Q1FY2021 results. Comparing against Q1FY2020, revenue was up 5%, profit was up 179%. Cumulative Free Cash Flow was down 74%. Comparing against the immediate preceding quarter, revenue was up 26%, profit was up 57%. The better performance in profitability was due to an increase in steel prices during the quarter. Management continues to monitor steel prices and foreign currencies to manage their pricing policies.

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NTPM (5066) announced its Q2FY2021 results. Comparing against Q2FY2020, revenue was down 5%, profit returned back in to the black. Cumulative Free Cash Flow was back to positive levels. Comparing against the immediate preceding quarter, revenue was up 5%, profit was up 5%. The slight improvement in financial performance were due to higher demand for its Personal Care products and lower selling and distribution expenses. Management is cautiously optimistic of its prospects.

Upcoming Earnings Results Releases Expected Next Week

We expect a few results to be released towards Chritmas. They may not be any of significance.

This Week Key Economic Data Releases

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Next Week Key Economic Data Releases

Wednesday - October 2020 Leading Economic Indicators, November 2020 Consumer Price Index

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