Booking.com

Booking.com

Favorite Links

Thursday, June 20, 2019

Graduan IPT tinggalkan kerja, tanam cili, terima pulangan RM60,000

Bernama

Empat rakan karib yang mempunyai kelulusan dari pelbagai institusi pengajian tinggi dan institusi kemahiran tempatan nekad untuk mengusahakan sebidang tanah terbiar di Kampung Musa, Mukim Pedu di Padang Terap dengan menanam cili secara fertigasi.

Berbekalkan modal RM20,000 untuk peralatan tanaman, benih dan penyediaan medium tanah, Mohd Safri Mahmud, 25, Mohd Amiludin Afiz Wahab, 26, Mohd Irfan Azri Anas, 25, dan Mohd Shafiq Hakimi Nordin, 25, memulakan projek mereka Oktober lalu, dengan menanam 4,000 pokok cili di kawasan tanah seluas kira-kira 0.3 hektar.

Mohd Safri, lulusan Universiti Sultan Zainal Abidin, Kuala Terengganu, berkata idea untuk mengusahakan projek itu tercetus selepas beliau menanam 1,800 pokok cili di sekitar rumahnya di Kampung Musa, Mukim Pedu lebih setahun lalu dan mendapat permintaan tinggi.

Beliau berkata selepas melihat potensi dan kejayaan mengusahakan tanaman itu di tepi rumah, 3 rakannya yang masing-masing sebelum ini mempunyai pekerjaan membuat keputusan berhenti kerja dan menyertainya untuk menanam cili.

“Mohd Amiludin sebelum ini bekerja sebagai polis bantuan di Pulau Langkawi, Mohd Irfan Azri sebagai pereka grafik di sebuah pasar raya di Alor Setar dan Mohd Syafiq pula kerja kilang di Sungai Petani. Kesemua ambil keputusan berhenti kerja dan balik kampung tanam cili bersama saya,” katanya ketika ditemui pemberita di tapak projek tanaman itu.

Mohd Amiludin merupakan lulusan Institut Hasani, Sungai Petani, manakala Mohd Irfan Azri Anas dan Mohd Shafiq Hakimi Nordin lulusan Kolej UNITI, Port Dickson.

Mohd Safri yang mengetuai projek itu berkata, beliau dan rakan-rakannya menggunakan teknik fertigasi bagi tanaman cili mereka kerana menjimatkan masa dan mengehadkan penggunaan tanah selain menjimatkan penggunaan air antara 30 dan 50% berbanding teknik tanaman tradisional dengan menanam terus di atas tanah.

Beliau berkata hasil tanaman mereka juga selamat untuk dimakan kerana menggunakan baja dan vitamin yang dihasilkan sendiri secara organik tanpa penggunaan racun kimia.

“Sistem kawalan air pula lebih cekap untuk memastikan pokok cili mendapat bekalan air dan nutrien secukupnya…sumber air dan nutrien yang mencukupi menjamin kualiti buah cili dihasilkan, berkilat dengan saiz besar dan panjang serta berat.

“Pokok-pokok ini ada diletakkan di atas tanah yang dilapik plastik khas dan sebahagiannya digantung dalam beg tanaman dan dalam dua minggu lagi kami akan tuai hasilnya untuk dijual secara borong atau jual sendiri di kantin sekolah dan pasar pagi,” katanya.

Katanya, beliau dan rakannya menyasarkan setiap pokok yang ditanam mampu menghasilkan 2kg cili yang mampu dijual antara RM7 dan RM10 sekilogram.

Menurutnya, hasil pertama tanaman yang baru diusahakan 2 bulan itu dijangka dituai dalam masa 2 minggu lagi dengan keseluruhan hasil tuaian dianggarkan berjumlah 8 metrik tan yang mampu menjana pendapatan sebanyak RM60,000.

Bagi Mohd Amiludin Afiz, beliau berharap projek itu dapat membuahkan hasil lumayan dan menyasarkan untuk membuka lebih banyak kebun baru bagi tanaman itu bagi memenuhi permintaan.

“Saya harap ada bantuan dari pihak berwajib untuk kami buka 4 lagi kebun baru agar hasil pengeluaran berterusan bagi memenuhi permintaan tinggi di pasaran,” katanya.

Sementara itu, Pegawai Pertanian Daerah Padang Terap, Mohamad Yuzaidi Azmi berkata projek berkenaan yang menggabungkan kawalan tanaman menggunakan kaedah kultura, biologi, dan mekanikal dipilih sebagai ladang contoh oleh Jabatan Pertanian daerah ini.

“Kebaikan tanaman ini hasilnya lebih selamat untuk dimakan, hasil lebih tahan lama dan berkualiti serta pengeluaran lebih banyak dan pokok mampu bertahan dalam mengeluarkan hasil sehingga enam bulan.

“Kita akan membantu memberi rumah lindungan hujan kepada pengusaha, dan keperluan lain yang sesuai,” katanya ketika dihubungi Bernama, mengenai projek tersebut.

Rezeki cili gantung



TUAN Mohd Kamarul Hisyam menunjukkan cili yang diusahakan menggunakan kaedah fertigasi gantung berhampiran rumahnya.

Siti Rohana Idris
am@hmetro.com.my

TUMPAT: Siapa sangka usaha bakal graduan ini yang pada mulanya sekadar mencuba nasib dalam bidang pertanian iaitu penanaman cili akhirnya membuahkan hasil lumayan.

Penanaman cili menggunakan kaedah fertigasi gantung sejak dua bulan lalu diusahakan Tuan Mohd Kamarul Hisyam Tuan A Talib, 25, di depan rumah keluarganya di Kampung Telaga Lanas, Pengkalan Kubor.

Meskipun tidak memiliki pengetahuan berkaitan pertanian, Tuan Mohd Kamarul Hisyam sanggup mengambil risiko memulakan penanaman cili di tanah seluas 0.4 hektar milik bapanya.

“Sebelum ini, saya tercari-cari aktiviti berfaedah untuk mengisi masa lapang sementara menunggu majlis konvokesyen Oktober depan.

“Saya mendapat pendedahan mengenai teknik penanaman cili daripada rakan sebelum diperkenalkan kepada konsultan dan menghadiri kursus sehari,” katanya.

Anak kelima daripada enam beradik itu berkata, dengan bantuan abangnya mereka menanam 2,700 beg cili membabitkan kos RM30,000.

Menurutnya, tanaman cili berkenaan mula mengeluarkan hasil pertengahan Mac lalu dan setakat ini jumlah tuaian sudah mencecah empat tan.

“Saya menetapkan sasaran untuk mengutip hingga sembilan tan cili. Hasil tanaman dijual kepada pemborong di Pusat Transformasi Luar Bandar (RTC) Tunjong pada harga RM6 untuk sekilogram.

“Selepas bergelar graduan nanti, saya mungkin mencari pekerjaan mengikut bidang pengajian yang diambil namun akan meneruskan usaha ini dengan bantuan keluarga,” katanya.

Artikel ini disiarkan pada : Jumaat, 19 April 2019 @ 6:30 AM

Cili - Berbaloi sangat!



NUR Hashimah menunjukkan hasil tuaian cili merah.

Mohamad Hussin
mohamad_hussin@hmetro.com.my

Kuala Lumpur: “Walaupun terpaksa berpanas dan berhujan ia bukan masalah kerana sekarang saya memang bersemangat untuk berbakti kepada tanah. Saya tidak mahu menoleh ke belakang lagi kerana semua ini demi kelangsungan hidup saya.

“Saya pasti dan kerap berdoa supaya terus berjaya dalam bidang pertanian,” kata ibu tunggal, Nur Hashimah Mahmood, 38.

Usahawan tani itu mengusahakan tanaman cili merah fertigasi, timun dan rock melon di sebuah ladang di Bukit Pelanduk, Port Dickson, Negeri Sembilan, sejak tiga tahun lalu.

Nur Hashimah berkata, dia nekad berhenti kerja dari sebuah syarikat swasta kerana mahu serius dalam bidang pertanian.

Dia terdorong untuk serius dalam bidang pertanian selepas melihat rakannya yang mengusahakan tanaman cili padi di Kluang, Johor, mendapat pulangan lumayan.

“Walaupun tidak ada pengalaman dalam bidang perniagaan, tanpa berfikir panjang saya berhenti kerja, malah adik-beradik terutama abang menyokong keputusan saya.

“Saya kemudian mengikuti kursus teknik fertigasi anjuran Pertubuhan Peladang Kawasan Kuala Langat (PPK Kuala Langat) sebelum menyewa tanah seluas 1.2 hektar di Bukit Pelanduk.

“Buat permulaan saya mengeluarkan modal sebanyak RM24,000 untuk mengatur kelengkapan fertigasi termasuk membeli 2,000 anak pokok cili yang diuruskan PPK Kuala Langat,” katanya, ketika ditemui, semalam.

Menurutnya, dia kemudian membeli tambahan sebanyak 4,000 pokok cili menjadikan jumlah keseluruhan 6,000 pokok cili.

Sepanjang proses itu, dia sendiri yang melakukan kerja membaja dan meracun bagi memastikan tanaman fertigasi diusahakan sentiasa berada dalam keadaan baik serta subur.

“Setiap hari saya akan ke ladang untuk melihat dan memeriksa pokok cili. Saya memilih cili kerana mudah dijaga. Apatah lagi menggunakan kaedah moden yang tidak memerlukan tenaga kerja yang ramai.

“Menggunakan penanaman secara fertigasi, saya tidak perlu membajak tanah, merumput mahupun meracun. Apabila sampai masa, saya akan menggantikan pokok lama dengan benih baru menggunakan beg semaian sama.

“Malah, sistem pengaliran air secara moden sangat menjimatkan tenaga kerja. Saya hanya perlu memasang alat jangka masa di tangki bekalan di mana ia akan membekalkan air secara automatik mengikut masa yang ditetapkan,” katanya.

Katanya, penanaman cili dapat memberi hasil yang cepat iaitu dalam tempoh lima hingga enam bulan.

“Bagi musim pertama tuaian membabitkan 2,000 beg semaian, saya memperoleh kira-kira lima tan cili dengan pendapatan RM30,000 membuatkan saya terus bersemangat dan serius dalam bidang ini.

“Selain cili, saya juga mengusahakan tanaman giliran timun dan rock melon (4,000 pokok) kerana mahu pelbagaikan jenis tanaman selain mengikut permintaan semasa,” katanya.

Ibu kepada dua cahaya mata berusia sembilan dan 13 tahun itu berkata, soal pemasaran juga tidak menjadi masalah kerana semua cili dituai dihantar ke Pusat Pengumpulan Hasil Pertanian (PPHP) melalui PPK Kuala Langat.

“Jabatan Pertanian Negeri Sembilan juga banyak membantu daripada segi khidmat nasihat. Selain itu saya juga banyak menimba pengetahuan melalui pembacaan di laman maya.

“Apabila mendapat hasil pertama, ia sangat memberangsangkan serta menambahkan keyakinan saya untuk menjadikan penanaman cili sebagai kerjaya baru,” katanya.

Artikel ini disiarkan pada : Jumaat, 2 November 2018 @ 10:46 AM

MBM Resources - Bye-bye OMI Alloy

Author: AmInvest | Publish date: Thu, 20 Jun 2019, 10:19 AM

Investment Highlights
We maintain our BUY call on MBM Resources (MBMR) with a higher FV of RM4.05/share from RM3.41/share based on an FY20F PE of 9.0x.
We raise our FY19/20/21 core net profit forecast by 15%/19%/7%. This is to account for the cessation of the alloy wheel plant which has been a dampener on its earnings and lower finance cost with cash proceeds of RM74.4mil from the disposal of its 22% stake in both HMSM and HMMM used to pare down its borrowings.
Key points from our meeting with management on Monday:

1) Operations of OMI Alloy ceased. MBMR has fully ceased the operation of its alloy wheel plant effective June 2019. We are positive on this update, and we expect MBMR to attain better valuations on the back of earnings improvement in the future as OMI Alloy has been a drag on the group’s earnings. We had earlier projected OMI Alloy to post a net loss of RM30.0mil for FY19 and FY20 due to the plant’s low utilization. Hence, the cessation of plant is expected to lift the group’s earnings ahead. The group assured that the supply of alloy wheels to Perodua will not be disrupted as there are arrangements for two other companies to fill the void left by OMI Alloy, namely Pako Automotive and Citic Dicastal. We believe that it is in the group’s interest to avoid a supply disruption for Perodua, which is a 22.6%- associate of MBMR.

2) New SUV launch from Perodua in 2H2020. The group guided that Perodua will be launching a new SUV in 2H2020. It is said to be a smaller version of the Perodua Aruz. We believe that this will be a 5-seater SUV since Perodua already has two 7-seaters in its product mix, which is the Alza and Aruz. We are excited about the launch of this model as it is expected to be affordably priced and would serve as a direct competitor to the upcoming Proton X50.

3) Cash proceeds from recent disposal of stakes in HMSM and HMMM to be used to pare down borrowings.Recall that MBMR recently announced a disposal of its 22% stake in both HMSM and HMMM for a cash consideration of RM74.4mil. The group guided that the cash will be fully used to pare down the group’s borrowings. With that, we tweaked our estimates to factor in the lower interest expense for FY19 onwards. We are positive on this update as the lower finance cost will boost the group’s earnings.
We believe that MBMR will continue to shine as a proxy to Perodua’s dominance in the local automotive space. We are excited about the group’s future expansion plans either organically or via more joint ventures with established names to further build on its distribution and auto parts business.

Source: AmInvest Research - 20 Jun 2019

周顯﹕一個撈偏年輕人

文章日期:2019年6月20日

【明報專訊】有一名年輕人,幾年前同朋友夾檔,搞了兩間餐廳,其中一間很快倒閉了,另外一間的經營也頗為困難。我觀察了他一段時間,終於忍不住對他說:「你一晚賭錢都十幾皮上落,點做這些家爺仔乸小生意,我看你的性格為人,還是適合撈偏,反正你又有人脈,不如全身投入撈嘢,更加有前途。」

說這番話時,我難免想起《武狀元蘇乞兒》中,老鬼新同蘇乞兒講,他完全是一個入型入格的乞兒。

其實,在近年,許多行業都變成夕陽工業,連賭業疊碼也在走下坡,唯一還有高速增長的,是加密貨幣、網上賭場、賭波、啤檔等等,個個大款都幾百億身家,好過做細價股多多聲。

於是,這名年輕人便入行了,有一次,他手上有幾百萬元,想還卡數,我斥責了他一頓:「出來撈嘢,爭卡數咪還住最低還款額,用幾百萬元來錢搵錢,如果你連卡息也賺不到,不如轉行好過了。」

這幾年,他也算做得頗為好景,欠下的債務,也有幾千萬元了。要知道,撈賭的欠債愈多,意即生意愈好,財源滾滾來。有一晚,他由於壓力太大,呼吸不到,辛苦地睡不著,打了個電話給他的uncle,他的uncle是做正行的,但也識得世面,在電話即時向他開拖,斥喝說幾千萬元好小事,按個摩快點睡,實在太沒用了。

[周顯 投資二三事]

Wednesday, June 19, 2019

Top Glove - Margins to Recover Next Quarter

Author: HLInvest | Publish date: Wed, 19 Jun 2019, 10:53 AM

9MFY19 core PATAMI of RM299.5m was below expectations. The results were below mainly due to a spike in prices of natural rubber during the quarter (+22.0% QoQ) and the subsequent lag in ASP revision which affected margins. We expect this to reverse in 4QFY19 given that prices have been revised upward since May (+8.8%). Maintain BUY and TP of RM5.31, based on FY20 earnings pegged to a PE multiple of 26x.

Below expectations: 9MFY19 core PATAMI came in at RM299.5m (-11.0% YoY), accounting for 68.2% of our and 65.1% of consensus estimates. The results were below mainly due to a spike in prices of natural rubber during the quarter (+22.0% QoQ) and the subsequent lag in ASP revision which affected margins. We expect this to reverse in 4QFY19 given that prices have been revised upward since May (+8.8%).

Dividend. Declared first interim dividend of 3.5 sen/share going ex-2nd July 2019.

QoQ. Revenue improved by 2.6% in tandem with volume growth of 2% QoQ. EBITDA declined 23.3% QoQ to RM182.3m, whilst EBITDA margin declined by 4.0 ppts to 11.7% (from 15.7%). This is attributed to a 22% increase in latex prices in 2Q19 and the subsequent time lag associated with passing on the cost to customers (note that latex accounts for 45.0% of production costs for Natural rubber gloves). Core PATAMI declined by 3.1% despite a lower tax expense (8.6% vs. 15% in 2Q19 – due to a write back for an overprovision – we expect subsequent quarters tax rate to normalize on a full year basis c. 18%-19%). In computing our core PATAMI we added back RM15.0m of forex losses.

YoY. Revenue grew 8.1% to RM1.19bn (from RM1.10bn) from higher volumes sold (+9%) whilst ASP was flattish. The volume growth mainly came from the nitrile (+25%) and surgical (+29%) offset by vinyl gloves (-42%). EBITDA declined 20.4% YoY (to RM139.7m) and margins eroded by 4.2ppts due to the sharp spike in natural rubber prices associated with a multitude of factors; (1) wintering season (February to May) (2) the run up to the Thai elections saw rubber prices boosted and (3) the ongoing drought in Thailand. PBT declined 38.7% YoY to RM82.2m due to a higher interest expense (+58.0% YoY) due to M&A and organic expansion. Subsequently, core PATAMI declined 29.7% YoY (to RM89.5m after adjusting for FX losses amounting to RM11.4m vs RM1.2m in 3Q18). A higher effective tax rate (16.0% vs. 12.0% in 3Q18) accentuated the decline.

YTD. Revenue improved to RM3.61bn (+20.5%) attributed namely to higher volumes (+15% YoY). The volume growth mainly came from nitrile (+35%) and surgical (+75%) offset by vinyl gloves (-25%). EBITDA improved to RM518.6m (+11.2%), whilst EBITDA margins declined 0.9ppts (to 14.3%) due to higher raw material prices and competitive pressures. Core PATAMI of RM299.5m (-11.0%) exhibited negative growth YoY due the same above mentioned factors- namely commodity swing and higher finance costs.

Capacity expansion. We understand that F32 1st phase (Nitrile/Latex) and F33 (Latex) are operational and currently producing. In 2HCY19 we will see additional 1.2bn pieces of new installed capacity. This implies that in CY19 TG will increase new capacity to a maximum of 4.6bn pieces or 7.6% YoY, which is well within the range of the annual demand growth (see figure #2).

Outlook. ASP for the latex segment has already been revised upward from May onward (+8.8%) which should normalize margins moving forward, ceteris paribus (c.15%-16% at the EBITDA level). Aspion achieved an EBITDA of RM40.6m and as such, no impairments were necessary. We expect Top Glove to conclude FY19 on a better standing on improved profitability QoQ.

BioGreen. Top Glove recently launched its bio-degradable nitrile examination gloves. The product is proven to decay 10x faster compared to existing conventional nitrile gloves. We understand that it has been well received in developed nations (EU, Japan and USA). Management didn’t share the product’s pricing, however given the recent global enthusiasm on environmental issues and recent rubbish dumping by western nations to Malaysia and alike; we can expect Top Glove to leverage this product to their benefit.

Forecast. We adjust our FY19 earnings downward by 9.3% as we recalibrate our model with higher average latex prices for FY19. However, FY20-21 earnings are unchanged as the ASP price revision in May should help preserve margins going forward.

Maintain BUY, TP: RM5.31. Maintain TP of RM5.31 and our BUY call. Our TP is based on FY20 earnings pegged to a PE multiple of 26x. We like Top Glove for its more diverse product mix and its prime position to chip away market share.

Source: Hong Leong Investment Bank Research - 19 Jun 2019

Top Glove Corporation Berhad - Dragged By Higher Input Costs

Author:   |    Publish date: 


Top Glove reported a weak set of results with 9MFY19 earnings falling by 12.5% YoY to RM290.5m. This came in below both our and street estimates at 67% and 63% respectively. The discrepancy in our forecast was due to lower operating cost assumption. Lackluster results were attributed to the sharp rise in raw material prices and time lag in fully passing on the higher costs, which usually takes 2-3 months. Top Glove’s margins were compressed as a result. To account for the higher cost, we revise our operating cost assumption upwards and cutting our FY19F and FY20F earnings by 10% and 5% respectively. We reiterate our Underperform call but our TP is revised up to RM4.15 (RM3.75 previously) as we rollover our valuation to CY20, based on 22x PER, which is in line with 5-year sector average. Top Glove also declared an interim dividend of 3.5sen per share, unchanged compared to last year.
  • Revenue improved but hit by higher cost. Top Glove reported revenue of RM1.19bn (+2.6% QoQ) in 3QFY19, underpinned by stronger sales (+2% QoQ). ASP for nitrile gloves was revised upwards marginally (+3% QoQ), but the ASP for latex gloves was flat (-1% QoQ), despite the sharp increase in natural rubber prices (+22% QoQ). Time lag in ASP revision and intensified competition has resulted in margins erosion. Correspondingly, EBIT fell 28.3% QoQ to RM150.7m and EBIT margins declined to 8.8% this quarter (as opposed to 12.5% in 2QFY19). Lower tax expense of RM7.1m, due to the reversal of overprovision in income tax, has helped to slightly cushion the impact of latex prices increase. Net profit was also down by 29.5% QoQ to RM75.2m.
  • Segmental Information. In this quarter, China operation continues to suffer from a loss of RM1.8m, due to the oversupply condition of vinyl gloves in China. The sales volume of vinyl gloves fell by 32% QoQ. ASP for vinyl gloves fell c.28% YoY to USD11.50 per thousand pieces. Thailand also reported lower profit of RM3.5m (-35%QoQ), in tandem with the lower revenue of RM91m (-5.7% QoQ) reported.
  • Aspion. Contributed RM139.4m to the Group’s topline this quarter. Impairment assessment conducted showed that no impairments needed to be made at this juncture, since Aspion is able to generate sufficient cashflow to offset the goodwill recorded in the books of Top Glove. While the Group remains committed to make Aspion more profitable going forward, Aspion is not expected to contribute to the Group’s bottomline meaningfully in the near term.
  • Outlook. F32 1st Phase (+2.2bn pcs p.a) has begun production approximately one month back, with 8 lines commissioned. Plant F33 (+1.2bn pcs p.a) has also recently began producing. Construction of vinyl glove plant in Vietnam is underway, which will allow Top Glove to take advantage of the lower labor and lower energy cost considering that factories can use coal-fired burners in Vietnam. The vinyl glove factory is expected to be ready by mid CY2020.
Source: PublicInvest Research - 19 Jun 2019