【TEXCYCL 0089 交流专区】Tex 循环科技

bigmac5

这是我个人分析（还不全面，看财报的功力。。。。）

textcycle 的生意包括了

http://www.texcycle.com.my/

1）布料环保产品环保+今年才implement 新的recycle product
2）出产军方chemical product
3)rent of chemical product
4)少许investment and building rental


1）TCSB’S SERVICES
TCSB is a company that specialises in recycling and recovery of scheduled waste. It was formed in 1984, a time when
contaminated waste was unintentionally dumped in landfills or burned indiscriminately at obscure places. Sharing the
same vision of the Department of Environment (“DOE”) to continuously protect the land we live on, TCSB has
developed to earn pioneer status in the recycling of scheduled waste. TCSB practices and acts on the worldwide effort
of waste management, living the motto of “reduce, reuse, recover, recycle”.
TCSB collects used materials directly from companies in the electronics, engineering, automobile, oil & gas, printing
and other manufacturing industries, all of which use rags, wipes and gloves which are soiled with grease, inks,
solvents and whatever substance imaginable. Such wastes are now highly regulated and have to be disposed off, at
sites permitted by the DOE and handled only by licensed contractors. Every year, the ever-increasing hundreds of tons
of soiled rags, wiper cloths and gloves are transported by our licensed fleet of trucks to TCSB.
TCSB’s job is to remove contaminants from the soiled materials so that they can be reused. Damaged materials can
also be converted into safe recyclable products, fit for use.


2）MKT’S PRODUCTS
Formed in 1995, MKT is a specialist in designing and manufacturing camouflage products for tactical military applications. It’s unique innovative
products all conceived by MKT continues to attract the attention of defense forces from around the world. Evermore so in the modern warfare
where deception and camouflage techniques would decide the outcome of a conflict. MKT’s “TOTAL CAMOUFLAGE SYSTEM” is an innovative
approach to a seamless integration of a complete tactical camouflage for military hardware in a broad electromagnetic spectrum.
MKT also formulates and supplies chemical solutions for the treatment of contaminated waste and effluent to TCSB.

还有，rental cycle product, investment (这几个比较不是重心)


早期的Texcycle

1) 以回收布料在环保使用事业为主， 回收再使用的产品如（手套，布料etc）
2) chemical product, 就是生产忒别的漆料给军营车（奇怪的product,）
3）出借recycle product ,space(expo)

2008 年一些研制了环保油气的产品， 2011 开始implement(等2011在klang 的工厂完工，就可以做另一门生意)

report 2008（看到的）
During the previous financial year, Tex Cycle has completed the its Research and Development (“R&D”) into ways to
convert the oily sludge into inert silicious materials that can be used as oil binders in the oil and gas industries to absorb
and stabilize oil sludge for easy disposal, and into ways to convert used oil into bio-fuel and used rags into floating oil
absorbers. However, the approval from Department of Environment and commercializing of the succeeded R&D will only
be materialized and carried out at the Company’s proposed new recycling facility in Klang, Selangor which is expected to
be completed and operational by 2011.


这间公司的生意
1)        recycle roduct, 本钱也很高，卖的product 本钱去了 75%， 赚25－30%
2)        chemical product 好象是周期性的， 军营好象是两年来和他们交易一次。。。。这个product 也只卖给军营。

2010 已经implement 回收布料以外的产品，应该会带来新的revenua, 2008 财报提到的，应该会带来盈利。2011 财报应该会有更详细信产品的资料。

看了，quota report, 军营又来拿货，所以今年的revenua应该会更好。 不懂公司会大方派更高利息吗？针对这股，个人看法
1）        布料环保的生意，长做才有， 但本钱也很高，虽然每年的revenue 都起， 但赚的大概 20－35%
2）        Chemical product, 军营用品，军营应该是两年拿一次，
3）        新的回收产品（2008 提到是油产品，要留意2011财报才可以知道更清楚）
4）        Goverment 很多绿色计划，对这间公司有好处（money support, tax）
5）        公司平稳，本小利大。值得多留意。


ps:个人看法罢了，只供参考，因为在学看财报。以这个股为中心，自己也有几张这股票

bigmac5

一个前辈之前对这股的分析。。


TEX CYCLE TECHNOLOGY (M) BERHAD        
主要的业务是收集电子、工程、汽车、石油和天然气、印刷等制造业公司使用后的脏抹布，雨刮衣服和手套，然后清除布料上的油脂，油墨，溶剂等。

这是相关网址http://www.texcycle.com.my/texcyclesdnbhd/Company%20Profile.html

首先，资产负债状况：
NON-CURRENT ASSETS        
Property, plant and equipment        7,671
Prepaid lease payment on leasehold land           8,128
Investment property          7,340
Goodwill on consolidation                            584
Investment in structured funds         3,000



                                 
  CURRENT ASSETS                        
Investment in structured funds                    1,000
        Inventories                                           612
        Trade receivables                                4,660
        Other receivables                                1,206
        Tax recoverable                                     114
        Deposits, cash and bank balances       11,351
        

CURRENT LIABILITIES                        
        Borrowings                                            75
        Trade payables                                     113
        Other payables                                  1,528
        Tax payables                                        169

以及

Non-current liabilities                                    503


以财务而言，属于相当稳健，几乎没有借贷。     
      
它可以累计的现金，是源自盈利。我们可以从损益表看出一二：
Revenue                                                   28,329                                                               
Cost of sales                                           (17,059)                                                               
Gross profit                                              11,270

这里的毛利显示它的成本为60%左右。

                                                               
Other income                                             2,566                                                               
Distribution and selling expenses                  (414)                                                               
Administrative expenses                           (3,564)                                                               
Other expenses                                       (1,470)                                                               
Finance income                                               86                                                               
Finance costs                                               (14)                     
Profit before taxation                                 8,460
                                                               
Taxation                                                  (1,881)



税后盈利显示它可以净赚大约20%左右。
                                                               
Net profit for the period                           6,579
Attributable to:                                                               
Equity holders                                         6,579



它的现金流量表显示：
Operating profit before working capital changes                8,462

Net cash generated from operating activities                     6,953

它可以从这生意中取得六百万左右的现金盈余。这笔松动钱他会如何利用呢？
季报显示它不断的增加一项称为 structured fund 的投资        （？？？）。
至于本业的投入较基金的投资为少，可能是之前已投入了大笔资金，故今年无需投入太多在本行中。

Investment in structured fund                                       (3,000)

Purchase of property, plant and equipment                     (1,449)


股息方面非常少，如果想得到股息收入，会相当失望了。
CASH FLOW FROM FINANCING ACTIVITIES                                
        Proceeds from government grant                             1,975
        Repayment of hire purchase and lease financing         (246)
        Dividend paid                                                         (841)



这家公司的特点是可以很快的累计一笔相当的现金（以它的规模而言是相当多的钱）。如果保持低开支、开销（也许不派股息），数年后可以存到可观的现金盈利。那么，目前以0.20左右的股价，买它的握有的现金，买他未来的盈利，买它的净利率，是否值呢？

呵呵，见仁见智。

Source From
http://www.investalks.com/forum/viewthread.php?tid=34



ps: 资料只给参考，不是投资意见。。。买卖自负

bigmac5

新的business 应该是这个

马来西亚版每日头条 – 23/06/11
2011年06月23日每日头条(马来西亚版)
http://www.sharesinv.com/zh/articles/24444/

Tex循环科艺把焦点放在油气领域上
废物管理公司Tex循环科艺(Tex Cycle Technology)将以油气业作为其未来焦点及主要的增长来源，因为它预期这个行业对废物管理的需求将会大大提高。公司说它在这个领域的业务规模不大，而且只是试验性质，但它认为很有机会取得这方面的合约，因为它对油气业十分熟悉。公司在1Q11取得750万令吉的收入，其中200万令吉是来自油气领域。展望未来，公司希望能巩固在制造、废物回收及再生能源产品的基底。

bigmac5

icy97

SUMMARY OF KEY FINANCIAL INFORMATION

31/12/2011

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31/12/2011	31/12/2010	31/12/2011	31/12/2010
		$$'000	$$'000	$$'000	$$'000
1	Revenue	6,996	3,767	31,171	15,649
2	Profit/(loss) before tax	1,026	852	7,153	6,254
3	Profit/(loss) for the period	622	633	4,900	4,486
4	Profit/(loss) attributable to ordinary equity holders of the parent	622	633	4,900	4,486
5	Basic earnings/(loss) per share (Subunit)	0.36	0.37	2.87	2.63
6	Proposed/Declared dividend per share (Subunit)	0.00	0.50	0.00	0.50
		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 ($$)	0.2826		0.2589

bigmac5

回复 5# icy97

股息0,50 这么好?

icy97

回复  icy97

股息0,50 这么好?
bigmac5 发表于 24-2-2012 11:31 PM

那去年七月已派了。。不是0.50/股，而是0.005/股（5%x面值[rm0.10]=0.005）

Date	Financial Year	Ex-Date	Entitlement Date	Payment Date	Entitlement Type	Dividend (Cent)	Dividend (%)
30/05/2011	31/12/2010	06/07/2011	08/07/2011	22/07/2011	First and Final Dividend	0.000	5.00
31/05/2010	31/12/2009	06/07/2010	08/07/2010	16/07/2010	First and Final Dividend	0.000	5.00
18/06/2008	31/12/2007	09/07/2008	11/07/2008	26/07/2008	First and Final Dividend	0.500	0.00
18/06/2007	31/12/2006	09/07/2007	11/07/2007	26/07/2007	First and Final Dividend	0.500	0.00
19/06/2006	31/12/2005	07/07/2006	11/07/2006	26/07/2006	First and Final Dividend	0.500	0.00

bigmac5

回复 7# icy97


    haha. 就是知道。。

icy97

Tex循环科技卖地

财经新闻 财经  2012-03-18 17:22
（吉隆坡18日讯）Tex循环科技（Texcycl，0089，自动报价股）以499万令吉、脱售巴生一块非永久地契地皮。

Tex循环科技向马交所报备，子公司Tex循环科技私人有限公司与Wistaka私人有限公司达成协议，以499万令吉脱售一块非永久地契的工业地皮于后者。

公司称，将通过脱售所得投资更有生产力的项目。

Tex循环科技指出，这块地皮为空置工业地，占地9472平方尺，地契将于2105年届满。[Nanyang]

icy97

投资交流站：Tex循环科技可长期持有？

财经周刊 投资观点  2012-05-21 12:05

问
主持人： 您好，请问您对Tex循环科技（Texcycl，0089，自动报价股）的看法，这只做环保生意的股是否值得长期持有？
希望能尽快给予回复，谢谢。
读者蔡水城

答
Tex循环科技主要从事环保废物管理业务，为各领域如电子、工程、汽车、石油与天然气和印刷业提供有关方面的专业服务（废料处理）。

此外，该公司也为国防工业供应专业产品，并且也为石油与天然气、农业和化学相关领域提供化学产品。

在全球关纷纷提倡环保之下，该业务的前景仍被看好，而且，大部分仍需要废料处理服务。

依据该公司在2006至2011年的业绩数据，净利从2006年的378万4000令吉，逐年提高到2009年的658万令吉之后，近年来呈放缓。

在2010年，其净利回跌至448万6000令吉（低于2008年的464万1000令吉），而在2011年则扬约10%至490万令吉。

营业额方面，也同样从2006年的1331万6000令吉，飙升到2009年的2832万9000令吉后，在2010年回跌至1546万9000令吉，2011年则创下3117万1000令吉。[Nanyang]

主持人：股悦（证券交易商）

icy97

31/03/2012

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31/03/2012	31/03/2011	31/03/2012	31/03/2011
		$$'000	$$'000	$$'000	$$'000
1	Revenue	3,546	7,562	3,546	7,562
2	Profit/(loss) before tax	3,892	2,719	3,892	2,719
3	Profit/(loss) for the period	3,233	2,054	3,233	2,054
4	Profit/(loss) attributable to ordinary equity holders of the parent	3,233	2,054	3,233	2,054
5	Basic earnings/(loss) per share (Subunit)	1.89	1.20	1.89	1.20
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 ($$)	0.3014		0.2825

icy97

Company Name	:	TEX CYCLE TECHNOLOGY (M) BERHAD (ACE Market)
Stock Name	:	TEXCYCL
Date Announced	:	30/05/2012

EX-date	:	05/07/2012
Entitlement date	:	09/07/2012
Entitlement time	:	04:00:00 PM
Entitlement subject	:	First and Final Dividend
Entitlement description	:	First and Final Single Tier Exempt Dividend of 5% per share
Period of interest payment	:	to
Financial Year End	:	31/12/2011
Share transfer book & register of members will be	:	09/07/2012 to 09/07/2012 closed from (both dates inclusive) for the purpose of determining the entitlements
Registrar's name ,address, telephone no	:	Symphony Share Registrars Sdn. Bhd. Level 6, Symphony House Block D13, Pusat Dagangan Dana 1 Jalan PJU 1A/46 47301 Petaling Jaya Selangor Darul Ehsan Tel: 03-7841 8000
Payment date	:	23/07/2012
a. Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers	:	09/07/2012
b. Securities deposited into the Depositor's Securities Account before 12:30 pm in respect of securities exempted from mandatory deposit	:
c. Securities bought on the Exchange on a cum entitlement basis according to the Rules of the Exchange.
Number of new shares/securities issued (units) (If applicable)	:
Entitlement indicator	:	Percentage
Entitlement in percentage (%)	:	5

icy97

SUMMARY OF KEY FINANCIAL INFORMATION 30/06/2012

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30/06/2012	30/06/2011	30/06/2012	30/06/2011
		$$'000	$$'000	$$'000	$$'000

1	Revenue	3,800	11,742	7,346	19,304
2	Profit/(loss) before tax	4,499	2,373	8,390	5,092
3	Profit/(loss) for the period	3,968	1,742	7,200	3,796
4	Profit/(loss) attributable to ordinary equity holders of the parent	3,968	1,742	7,200	3,796
5	Basic earnings/(loss) per share (Subunit)	2.32	1.02	4.22	2.22
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 ($$)	0.3247		0.2825

le_2012

请问这股会在上吗？
我之前是在很高时买的，到现在都还在亏，不懂几时可以套利。 haiz...

icy97

SUMMARY OF KEY FINANCIAL INFORMATION 30/09/2012

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30/09/2012	30/09/2011	30/09/2012	30/09/2011
		$$'000	$$'000	$$'000	$$'000

1	Revenue	3,624	4,871	10,970	24,175
2	Profit/(loss) before tax	852	1,018	9,242	6,110
3	Profit/(loss) for the period	692	466	7,892	4,262
4	Profit/(loss) attributable to ordinary equity holders of the parent	692	466	7,892	4,262
5	Basic earnings/(loss) per share (Subunit)	0.41	0.27	4.62	2.50
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 ($$)	0.3237		0.2825

cocoloco

我留意这股很久想低价买，但交易量实在太少了而且价钱不下。

icy97

SUMMARY OF KEY FINANCIAL INFORMATION 31/12/2012

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31/12/2012	31/12/2011	31/12/2012	31/12/2011
		$$'000	$$'000	$$'000	$$'000

1	Revenue	4,103	6,996	15,073	31,171
2	Profit/(loss) before tax	249	1,026	9,491	7,140
3	Profit/(loss) for the period	-21	622	7,871	4,887
4	Profit/(loss) attributable to ordinary equity holders of the parent	-21	622	7,871	4,887
5	Basic earnings/(loss) per share (Subunit)	-0.01	0.36	4.61	2.86
6	Proposed/Declared dividend per share (Subunit)	0.50	0.00	0.50	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 ($$)	0.3236		0.2825

icy97

SUMMARY OF KEY FINANCIAL INFORMATION 31/03/2013

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31/03/2013	31/03/2012	31/03/2013	31/03/2012
		$$'000	$$'000	$$'000	$$'000

1	Revenue	3,590	3,546	3,590	3,546
2	Profit/(loss) before tax	1,591	3,892	1,591	3,892
3	Profit/(loss) for the period	1,149	3,233	1,149	3,233
4	Profit/(loss) attributable to ordinary equity holders of the parent	1,149	3,233	1,149	3,233
5	Basic earnings/(loss) per share (Subunit)	0.67	1.89	0.67	1.89
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 ($$)	0.3303		0.3236

icy97

TEX CYCLE TECHNOLOGY (M) BERHAD

EX-date	05/07/2013
Entitlement date	09/07/2013
Entitlement time	04:00:00 PM
Entitlement subject	First and Final Dividend
Entitlement description	First and Final Single Tier Exempt Dividend of 5% per share
Period of interest payment	to
Financial Year End	31/12/2012
Share transfer book & register of members will be	09/07/2013 to 09/07/2013 closed from (both dates inclusive) for the purpose of determining the entitlements
Registrar's name ,address, telephone no	Symphony Share Registrars Sdn. Bhd. Level 6, Symphony House Block D13, Pusat Dagangan Dana 1 Jalan PJU 1A/46 47301 Petaling Jaya Selangor Darul Ehsan Tel No. 03-78418000
Payment date	23/07/2013
a.Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers	09/07/2013
b.Securities deposited into the Depositor's Securities Account before 12:30 pm in respect of securities exempted from mandatory deposit
c. Securities bought on the Exchange on a cum entitlement basis according to the Rules of the Exchange.
Number of new shares/securities issued (units) (If applicable)
Entitlement indicator	Percentage
Entitlement in percentage (%)	5

yeuking

cocoloco 发表于 22-11-2012 12:32 PM
我留意这股很久想低价买，但交易量实在太少了而且价钱不下。

两年前,我用0.3买进,等了两年才有点起色,虽然中间还有分点花红,长期投资也不算理想,但我看到的是公司的前途,所以到现在还保留着.