【SRII 交流专区】SRII业绩出色

tan81

发现了一间可能在做假账的公司。希望大家帮忙看看。
不会拿图，如果有人愿意把它的业绩报告，放上来，就好了。
特别怀念我们的议员---- 桃花岛岛主。

[ 本帖最后由 tan81 于 29-5-2008 01:29 AM 编辑 ]

tan81

如果各位有兴趣，可以学我从2002年的财务报告开始看起。
2001， 当年的净利是RM2.5 M 。
2002，净利提升为RM6.7 M。

2006年，净利是RM8.3M
2007年，净利是RM10.9 M

可是，这几年，营业额却从RM58M上升到RM144M。管理层的解释是，增加营业额，来突破利润下降的问题。
这个，还算合理。

可是在2001年，它的Trade Receivables 是RM18M，2007年，Trade receivables 已经高达RM40M。
存货上升，还属于合理，因为营业额不断加大。可是，许多销售，却没有回报成为现金。
只是一直累计在应收帐款。

再看看它的现金流。从2005年开始，虽然公司持续赚大钱，却没有增加现金，反而会负现金。
这期间，它也有持续购买机器和厂房，Deprecietion的数字又增加2 百万。

不知道各位有什么看法？

[ 本帖最后由 tan81 于 28-3-2008 12:55 AM 编辑 ]

tan81

ＳＲＩＩ　每３股送一股。已经在４月完成派股。
派股之前的票额是６０，３６８，０００。
完成后是　８０，４９０，０００。

在最新的业绩报告（３月为止），它的Ｔｒａｄｅ　ｒｅｃｅｉｖａｂｌｅｓ　下滑ＲＭ３Ｍ。而且现金开始回升了。
目前持有ＲＭ２８．５Ｍ的现金。

每股现金约为ＲＭ０．３５。
如果全年的盈利是每股ＲＭ０．１８，根据现在的价格＝ＲＭ０．８５，　本益比是４．７２倍。

ＮＴＡ　是ＲＭ１．０８５。所以现在的股价是ＮＴＡ的２０％折价。

[ 本帖最后由 tan81 于 29-5-2008 01:46 AM 编辑 ]

tan81

保留----------------------------

scsiang82

SUMMARY OF KEY FINANCIAL INFORMATION

31/12/2007

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31/12/2007	31/12/2006	31/12/2007	31/12/2006
		RM'000	RM'000	RM'000	RM'000
1	Revenue	34,721	32,243	34,721	32,243
2	Profit/(loss) before tax	5,424	4,215	5,424	4,215
3	Profit/(loss) for the period	3,865	2,985	3,865	2,985
4	Profit/(loss) attributable to ordinary equity holders of the parent	3,865	2,985	3,865	2,985
5	Basic earnings/(loss) per share (sen)	6.40	4.94	6.40	4.94
6	Proposed/Declared dividend per share (sen)	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 (RM)	1.4419		1.3779

scsiang82

有什么地方可疑呢？？？

8years

我稍微看一下，好像没有什么问题喔。可以分析一下问题在那里吗？？

外汇老马

他的帐有没问题我就不知道，不过它的股票是不会怎样起的。

四伯爽

不过SRII的产品通街都可以看到

噢噢

有开店就要灭火器。。。

scsiang82

SRII sees blazing growth this financial year
[email=By%20Sharen%20Kaur][/email]Published: 2008/03/28

The fire-fighting equipment firm wants to raise export contribution to 75 per cent of sales in three to five years as well as build a plant in Southeast Asia

SRII Bhd, the country's biggest fire-fighting equipment company is optimistic of 20 per cent growth in the current financial year, helped by product expansion and business from abroad.

For the year ended September 2007, SRII posted a net profit of RM10.9 million, while turnover stood at RM144 million.

Group managing director Datuk Y.S. Ong said SRII has been expanding rapidly overseas with exports accounting for 60 per cent of sales.



Europe, and the Middle East are SRII's two biggest markets abroad, followed by the Asean region, Australia and India.

"We plan to increase it to 75 per cent in three to five years' time as well as build a new plant in Southeast Asia," said Ong after a shareholders' meeting yesterday.

At the meeting, shareholders voted to raise SRII's paid-up capital to RM80 million via a one for bonus issue of up to 20.15 million new shares at RM1 a share.

Ong also said that SRII plans to penetrate the US market within the next two years time.

With this in mind, and to accomodate organic growth from current markets, SRII is in the midst of expanding its plant in Subang at a cost of RM32 million.

The expansion will help double its output capacity.

http://www.btimes.com.my/Current_News/BTIMES/Friday/Nation/SRII.xml/Article/

[ 本帖最后由 Mr.Business 于 28-3-2008 11:18 AM 编辑 ]

yjk1984

不会吧？我个人得感觉是，这间公司的财务状况稳健。
例如2007年的年报显示出流动资产中，25%是现金所组成（一百块的容易变现资产中有25元是现金）。

总资产对比债务是正面的。（100块的资产里面，有29.5元债务）

根据2007年的现金流量表把税前盈利（15，692，000）变成15块，容易算。
税前赚了15元，经过公司内部运作，变成16元。
接着，拿2块钱用作产业开销，2块钱买货，9块作为定金，预付等。
16-2-2-9=3
剩下的3块钱，加上5元应收帐回收等，大概有8块钱。
8块钱又拿3块钱缴税。还剩下5块钱的盈利。

接着，5块钱，再拿大概3块钱去投资回自己的厂。还有两块钱剩下。
于是，剩下的钱以股息回馈股东，并且另外向银行借2块3，作为内部运作（补缺发放股息造成的缺口）。

我个人觉得没什么大问题。债务少，现金充足，内部运作相当稳健，没有乱乱贷款，胡乱借钱的现象。

bsyeo

这支股市少数挺得过经济风暴的二三线股。最近又派利息，又派红股。为什么股价不起。唉，如果政府宣布 凡是楼高必备灭火器，不起才怪呢！

tan81

给我一点时间，重看一些资料。只有一位网友PM我，同意我的观点。
不过，看来大部分人都认为没有问题的。
如果是那样，又有一家不错的公司可以投资了。

我会迟些发表。谢谢各位继续讨论。

stereo

有高息减少了假帐的可能性。

Mr.Business

新闻。

SRII raising RM50m via Singapore listing

Published: 2008/04/07
By Sharen Kaur

SRII Bhd, the country's biggest maker of fire-fighting equipment, may raise some RM50 million from a share sale in Singapore to expand.

Business Times understands that SRII has appointed a merchant banker and it may list on the foreign bourse next year.

Group managing director Datuk Ong Yow Siang confirmed the plan, adding that it is always looking for new avenues to expand.

"We may look at Singapore to command a higher price earnings (PE) ratio. Our PE is now six times and we hope to get an average of 10 in Singapore. We are looking at listing there in 15 months," Ong told Business Times in a telephone interview.

Ong said by listing in Singapore, SRII would be able to build its business and profile while attracting international funds.

SRII, which is 51.1 per cent held by Ong and his non-executive partners, Wong Chan Kow and Khaw Kai Lee, was listed on the second board in 1996. It transferred to the main board in 2003.

As at September 30 2007, the firm's shareholder funds stands at RM83.1 million. It has cash of about RM24 million with debt of some RM3.4 million.

SRII makes up to 250 finished fire equipment products and sells them via distributors in Europe, the Middle East, Australia and the Asean region including India.

It is gearing for an entry into the US next year and plans to set up its first overseas plant in Southeast Asia in two years.

Ong said SRII plans to partner foreign players to market its products.

"We have big European firms buying our products but a joint venture would help to build sales," he said.

For the year to September 2007, SRII posted a net profit of RM10.9 million on RM144 million of sales.

It hopes to grow this by 20 per cent this year, helped by product expansion and better business from abroad.

http://www.btimes.com.my/Current ... n/SRI2.xml/Article/

tan81

请问，在外国上市，会对本来的股票有什么影响？
价值会改变吗

Mr.Business

她应该是在Singapore的交易所发新股吧。
带来的影响：
1. 股份被冲淡了(因为发新股了)；
2. 从发新股中得到新资金；
3. 如果在Singapore的PE比较高，可能会带动这里的PE吧。

tan81

原帖由 Mr.Business 于 8-4-2008 11:27 AM 发表
她应该是在Singapore的交易所发新股吧。
带来的影响：
1. 股份被冲淡了(因为发新股了)；
2. 从发新股中得到新资金；
3. 如果在Singapore的PE比较高，可能会带动这里的PE吧。

看来对小股东没有好处了？

Mr.Business

1. 获得新资金后如果公司越做越大，对原来股东是好事。
2. 如果在Singapore的交易所得到的PE比较高，对这里的PE可能有好的影响。