【CHGP 7187 交流专区】（前名 BKOON）

scsiang82

Boon Koon Group Berhad is an investment holding company and a provider of management services to its subsidiaries. Through its subsidiaries, the Company is engaged in manufacturing and assembling of commercial vehicles and the provision of its related services; sale of commercial vehicles and the provision of its related services; provision of hire purchase financing and insurance agent, and marketing and selling of reconditioned rebuilt and used continental commercial vehicles. The Company's operating segments include Commercial vehicles and bodywork;
Insurance and financing, and Others. On August 8, 2005, the Company launched its continental rebuilt product Mercedes Benz. On October 25, 2005, the Company acquired 50% interest in BK Fleet Management Sdn.

Boon Koon Group Berhad (BKG) is Malaysia’s renowned one stop rebuilt commercial vehicles manufacturer and distributor. Hi-performance yet cost effective, our rebuilt commercial vehicles adds value to any business operation that needs reliable & durable vehicles to transport goods to their respective destinations.

From our humble beginnings as a sole proprietorship in the late 1970s, we evolved into a multi-million dollar enterprise through a series of acquisitions and leveraged innovative ideas to be Malaysia's first rebuilt commercial vehicle manufacturer.

Boon Koon Group Berhad (BKG) was officially founded in 2001 and consist of three subsidiaries:
Boon Koon Vehicles Industries Sdn Bhd (BKVI)
BKVI specialises in the manufacture and marketing of rebuilt commercial vehicles. In addition BKVI engages in the construction of bodyworks and trading of commercial vehicle components & accessories.

First Peninsula Credit Sdn Bhd (FPC)
FPC provides hire purchase services as well as competitive motor insurance products to to owners of BKG Rebuilt Commercial Vehicles.

Boon Koon Marketing (East Malaysia) Sdn Bhd (BKM)
BKM is the distributor of BKG rebuilt commercial vehicles, body works, accessories, components, chassis cab and cab in East Malaysia.

Our phenomenal success is attributed to the vision and acute business acumen of our founder. Under his leadership, BKG developed an extensive customer base comprising of construction, industrial and transportation corporations.

As pioneers in the field of rebuilt commercial vehicles, we are constantly improving the way we work to provide high quality, cost effective commercial vehicles that meet our customers' requirements.

[ 本帖最后由 scsiang82 于 20-11-2007 09:49 AM 编辑 ]

scsiang82

Year	2004	2005	2006	07Q1	07Q2
Turnover	93,622	158,435	169,671	53,708	57,711
EBIT	14,751	20,780	26,700	10,097	11,009
PBT	19,424	18,849	22,399	8,252	8,188
PAT	15,805	14,168	16,805	6,015	5,843
EPS	14	11.4	13.71	4	4
NTA	0.78	0.61	0.71	0.75	0.71
Share Capital	40,000	61,500	61,500	69,188	69,188
Equity	62,952	75,885	96,104	101,950	107,852
Current Asset	68,426	125,719	167,338	165,345	181,857
Current Liabilities	38,298	92,456	100,735	98,351	117,703
DE	0.01	0.15	0.63	0.52	0.41
ROE	17.95	18.69	19.31	5.33	5.63
PE			7.5	8.78	6.74

scsiang82

				Direct			Indirect
Name				Shares		%	Shares		%
Shamsudin @ Samad Bin Kassim (Executive Chairman)				1,212,500		0.88	0		0
Dato' Goh Boon Koon (Chief Executive Director)				31,847,373		23.02	3,050,438		2.2
Goh Boon Leong (Deputy Chief Executive Officer)				11,080,556		8.01	0		0
Datin Lee Teoh Kee (Executive Director)				2,880,139		2.08	32,017,672		23.14
Goh Boon Siew (Executive Director)				622,216		0.45	0		0
Dato' Abd Ghani Bin Ali Kadir (Executive Director)				210,431		0.15	0		0
Tan Jin Sun (Executive Director)				787		0	0		0
Goh Chin Aun (Executive Director)				152,125		0.11	6		0
Ho Kok Loon (Independent Non-Executive Director)				33,750		0.02	0		0
Ang Poh Gin (Independent Non-Executive Director)				33,750		0.02	0		0
Murelidaran A/L M Navaratnam (Independent Non-Executive Director)				21,937		0.02	0		0
Amirul Rahman Bin Abdul Rahim (Independent Non-Executive Director)				0		0	0		0
Koperasi Permodalan Felda Berhad				9,000,000		6.5	0		0
UBS AG For THE BLACKHORSE EMG EN MTR FD				12,888,800		9.31	0		0
KSC Strategic Fund 2				3,585,200		3	0		0
HSBC Holdings plc				12,770,787		9.23	0		0

scsiang82

BKOON 最近的简报：
~積極拓展印尼復新（RECONDITIONING）重型商用卡車業務
~冀望明年初進軍印度業務，初步投資額為500萬美元（約1828萬令吉）
~提昇海外營業額貢獻達20至25%。
~本地首家獲頒復新生產合約的汽車公司
~擁有涵蓋各類商業車的執照
~DCUK will supply Boon Koon with used Mercedes parts.
~DCUK helped the group to penetrate Indonesia last year and possibly do the same in India later this year
~Boon Koon as a "manufacturing/automotive hybrid" and failed to find companies that are directly comparable to Boon Koon in the region.
~Indonesia offers a huge potential due to the high demand of used commercial vehicles and market is 10 times bigger than local market.
~BKGB's competitive edge is drawn from its market leadership coupled with the first mover advantage in the industry.
~The conversion cycle for Mercedes is also shorter hence it would help increase the overall rebuilt capacity for the group.
~Every 1% strengthening in the ringgit will translate to a 2.4% increase in Boon Koon’s EPS

scsiang82

投資1800萬‧海外營收料増25% 文君集團明年進軍印度

Updated : 15-11-2006
Media : 星洲日報
Story By : N/A
www.biznewsdb.com

文君集團（BKOON,7187）除了積極拓展印尼復新（RECONDITIONING）重型商用卡車業務外，也冀望明年初進軍印度業務，初步投資額為500萬美元（約1828萬令吉），計劃提昇海外營業額貢獻達20至25%。

同時，該公司今年增設車隊租用管理新業務，預計今年杪可上路車輛總額達200輛，除了可貢獻明年營業額達20%，並可望帶動營業額突破1億8000萬令吉。

文君集團執行董事陳仁山表示，目前其在印尼3個地點設有業務，明年將會增設一個定點，以逐步攫取當地有潛力的復新重型商用卡車市場。

“公司也看好印度龐大人口市場，計劃在明年第一季進軍當地復新車業務。不過車輛主要藉由迪拜進口，再由當地轉運至印度。”

他說，該公司今年增設車隊租用管理業務，目前可上路車輛達180輛，預計可貢獻今年營業額達5至10%。

“我們目前與2家公司進行協談，提供他們租車額為10至15輛，並預計明年初可取得合約。這將是未來重要的核心業務之一。”

目前，該公司重建（REBUILDING）業務貢獻達50至55%，復新業務佔30至35%，而車隊租車服務為5至10%。

發1億令吉票據
融資營運成本

他在週二（14日）該公司與大馬證券（AMMB,1015）簽署發行最高達1億令吉的7年中期回教商業票據後表示，這項融資收益主要用來充作營運資本。

“除了10%用來收購GKY機械私人有限公司51%股權，5至10%用來增購車隊外，其餘皆當作營運資本。”

另外，他表示該公司計劃在亞庇增設新廠，預計投資額為500萬令吉，主要負責重建業務。

http://www.biznewsdb.com/chinese ... lan=11&kw=bkoon

scsiang82

發售1億令吉回債 文君集團併購GKY

Updated : 14-11-2006
Media : 中國報
Story By : N/A
www.biznewsdb.com

（吉隆坡14日訊）文君集團（BKOON）展望明年首季完成GKY Machinery（簡稱GKY）收購案，並發售總值1億令吉回教債券，為公司籌收購資金及營運資本。

文君集團主席沙曼卡欣表示，該公司計劃收購GKY 51%股權，目前正與后者洽談收購細節。

“GKY業務與我們的核心業務符合，收購完成后，將使文君集團業務多樣化，並進入復新重組，及分銷重型機器與配件。”

另外，該公司執行董事陳仁山補充，目前正與GKY探討價格及其它詳情，並預計收購案將于明年首季完成。

他說，今年獲得1項關于180輛車隊出租管理合約，加上收購資金問題，進而決定發售回債籌資。

收購資金佔10%

“回債其中的5%至10%將做為車隊出租管理用途；另外10%則為收購資金，其余85%至80%將充作營運資本。”

另一方面，陳仁山指出，目前共有超過200輛出租車隊，預計將在今年為營業額貢獻5%至10%，並展望2年后將達20%。

他表示，公司核心業務為復新重組車輛，目前復新重組車已邁向1500輛大關，並預計今年杪將突破1800輛。

此外，對于海外業務，陳仁山表示，文君集團近期進軍印尼市場，表現不俗，該地人口及需求量比我國高出約10倍，市場空間龐大。

“另外，我們打算以迪拜作為集中地，並藉此開拓印度新重組車市場。”

他補充，公司暫擬在明年首季投資500萬美元（約1821萬令吉），進軍印度，並展望明年第3季度后，開始注入貢獻。

詢及內部擴充計劃，陳仁山坦言，文君集團將斥資500萬令吉，在亞庇建設新廠房，擴充現有在斗湖的廠房，並預料明年次季將完成。

另一方面，他指出，該公司出口復新重組車輛至多個國家，包括新加坡、德國及中國等，並展望明年出口數據佔總營業額的20%至25%。

“我們預計，今年營業額將從去年的1億5300萬令吉，躍升約25%至1億8000萬令吉，並在明年增長25%至30%。”

http://www.biznewsdb.com/chinese ... lan=11&kw=bkoon

Mr.Business

Boon Koon最新的半年EPS是8sen，2006财政年的EPS是14sen, 现在股价RM1, PE差不多7，是合理的吗？

PS: 我觉得她的负债高， cash flow不大好。。。

scsiang82

原帖由 Mr.Business 于 27-9-2007 12:12 PM 发表
Boon Koon最新的半年EPS是8sen，2006财政年的EPS是14sen, 现在股价RM1, PE差不多7，是合理的吗？

PS: 我觉得她的负债高， cash flow不大好。。。

最新的半年EPS是8sen是发过红股过后，之前发了八股送一股。
合不合理我也不知道，PE = 7 我觉得还可以吧。。

负债高因为GKY Machinery（簡稱GKY）收購案吧。。。

Boon Koon 的另一个优势是The company rebuilds a range of commercial vehicles and it introduced the Mercedes range late last year. These rebuilt trucks are being marketed as offering fuel savings of 35% to 40% compared with Asian models.

from:http://www.biznewsdb.com/english ... p?ID=604246&file1=6&bulan=04&kw=boon koon

Mr.Business

是咯，29/05/2007是EX-date，8股送1红股，原本股本123million, 送红股后的股本138.375million。2006财政年的总profit是RM16868479，EPS是12.2sen。最新的半年的总profit是RM10.572million，半年EPS是7.6sen。Hmmm。。。past PE是8，forward PE是6.6。

scsiang82

2006财政年的总profit是RM16868479，EPS是12.2sen。
最新的半年的总profit是RM10.572million，半年EPS是7.6sen。
最新的半年净利成长了25%。。从去年开始，本地的汽车市场一直下滑，但是boon koon的营业额与净利还是保持成长。。

相信boon koon能保持成长。。。
Commercial vehicle sales up 16% in August
http://www.biznewsdb.com/english ... 9&kw=commercial car

Boon Koon Group Bhd's diversification into the distribution of used forklifts distributor "GKY Machinery" is expected to enhance the group's earnings with the proposed expansion of its capacity, says CIMB Research.

http://www.biznewsdb.com/english ... ulan=07&kw=boon koon

scsiang82

为什么我选择文君集团呢？？

1. 3年的营业额都有成长，今年的头两季营业额已达到了去年全年的65%。
2. 3年的ROE都超过了15%，EPS逐年成长。
3. 差不多7的PE,所以应该还不是很贵。
4. 文君集團是國內唯一擁有涵蓋各類商業車的執照，生產復新重造商業車輛的公司，這是一項壟斷的生意。
5. 文君集團的核心業務為復新重組車輛，業績多年來表現穩定。
6. 復新商業車輛的价钱比买新车便宜30%-60%。
7. 復新重造商業車也是一种环保的生意，加上现在全球都满注重环保。
8. 文君集團的復新商業車輛有日本的Toyota, Isuzu, Nissan, Fuso和Hino.也有欧洲的品牌，好像Volvo, Scania, Renault和Mercedes-Benz.
9. 文君集團的復新商業車輛的好处源于它的燃料效率，所以能从不断上升的油价中受惠。
10. Daimler Chrysler提供技术支持、训练、零件支持、价格优势、安全和相关的诊断机器给文君集團的復新商業Mercedes-Benz車輛。
11. 收購GKY Machinery（簡稱GKY），並進入復新重組，及分銷重型機器與配件。
12. 文君集團進軍印尼市場，表現不俗，該地人口及需求量比我國高出約10倍，市場空間龐大。另外，文君集團打算以迪拜作為集中地，並藉此開拓印度新重組車市場。

千子莲

听说文君的父亲昨天 mati liow

她的男人

今天掉到0.935了...

scsiang82

选择文君集团的风险？？

１．偏高的债务。發售總值1億令吉回教債券，為公司籌收購資金及營運資本。
２．经济萧条，影响商業車的销量。
３．生產復新重造商業車輛的執照被政府吊销。
４．政府颁发更多的生產復新重造商業車輛的執照，提高竞争。
５．印尼市場陷入困境，印尼政府的不稳定性。
６．现金周转不灵，更长的时间收到钱，从生产到卖出车辆。
７．新的业务車隊出租需要更多的资金来运作。
８．新廠的透支投資額。

scsiang82

PROPOSED DISPOSAL OF LEASEHOLD LAND AND BUILDING BY BOON KOON VEHICLES PTE. LTD., A WHOLLY-OWNED SUBSIDIARY OF BOON KOON GROUP BERHAD FOR A TOTAL CONSIDERATION OF SGD$4,400,000 (APPROXIMATELY RM9,983,600)

The Property was acquired by BKVPL on May 24, 2005 and the original cost of investment was SGD$2,963,865 (Approximately RM6,725,009.69). Based on Audited financial statements of BKVPL for the financial year ended December 31, 2006, the Net Book Value for the Property was SGD$2,811,412 (Approximately RM6,379,093.83).

全文：http://announcements.bursamalaysia.com/EDMS/edmsweb.nsf/LsvAllByID/48256E5D00102DF348257367003BB753?OpenDocument

她的男人

老爸刚翘， 一百天内应该不会有活动吧。

scsiang82

可是也不会影响公司运作吧。。。

scsiang82

Boon Koon poised for strong growth over next three years

Updated : 21-05-2007
Media : The Star
Story By : HANIM ADNAN
via www.biznewsdb.com
Mail this story or page to friend(s).

PETALING JAYA: Boon Koon Group Bhd, which sells rebuilt commercial vehicles is set to post strong earnings growth over the next three years.

CIMB Research, in initiating an ¨outperform〃 call on the stock with a target of RM2.02, said in its note that the domestic rebuilt commercial vehicle division was expected to expand at an annual rate of 15% to 20% over the next few years.

This underpins the brokerage forecast of 20% earnings compounded annual growth for Boon Koon over the next three years.

In 2005, Boon Koon entered into an agreement with Daimler Chrysler United Kingdom (DCUK). Under the terms of the deal, DCUK will supply Boon Koon with used Mercedes parts.

DCUK helped the group to penetrate Indonesia last year and possibly do the same in India later this year, said CIMB Research.

CIMB said Boon Koon is also venturing into the fleet management business through its 61%-owned unit Boon Koon Fleet Management Sdn Bhd.

¨This business is expected to contribute a mere 5% of Boon Koonˇs total pre-tax profit this year,〃 it said.

The research unit described Boon Koon as a ¨manufacturing/automotive hybrid〃 and that it has failed to find companies that are directly comparable to Boon Koon in the region.

Boon Koon has indicated that it would resume paying dividend this year and its dividend policy is to pay out not more than 50% of its net earnings, said CIMB Research.

¨Assuming a 30% payout ratio, we are looking at an attractive gross dividend yield of around 6.2%,〃 it said. Boon Koonˇs share price closed at RM1.34 last Friday, up 21 sen from RM1.13 previously.

http://www.biznewsdb.com/english ... ulan=05&kw=boon koon

scsiang82

文君998萬售新加坡地段
updated:2007-10-08 19:34:45 MYT

（吉隆坡訊）文君集團（BKOON，7187）的新加坡子公司，以440萬新元（約998萬3600令吉）現金價脫售新加坡的一塊地段予新加坡的Tulip發展私人有限公司。

該公司發文告表示，集團將從上述交易取得137萬3000新元（約311萬5337令吉）所得，除了償還貸款，部分所得將用作營運資金。

上述交易將降低文君集團的負債率，同時也提升每股收入2仙。 （星洲日報/財經•2007.10.08）

http://biz.sinchew-i.com/content ... ;artid=200710082642

Mr.Business

如果你要投资Boon Koon，请考虑我以下提出的问题：
1. Receivable很高，为什么？
2. Cash flow不是很好，为什么？是不是为了吸引买家，所以帐期拖很长？
3. 高负债，那高的ROE是不是假象呢？
4. Boon Koon向老板的私人公司租建筑物，用意何在？老板想占Boon Koon的便宜？
5. Boon Koon的生意真的是好的生意吗？