【RUBHD 交流专区】松大 Grand Pine 选股 Rubhd

leong9000

此股乃上星期松大讨论会时得出的股项，其roe,pe, ocps, eps 都蛮理想，加上最近又有消息，只是技术分析上目前不适于买入。

各位前辈，可否就此股讨论讨论？

[ 本帖最后由 Mr.Business 于 29-1-2008 12:07 PM 编辑 ]

风起云涌

松大有作了什么重点分析吗 期待您的分享

－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－

我觉得我选的这些都比松大选的强多多[开玩笑的]

纯粹分享－－

HOVID

DGATE

leong9000

Ranhill utilities (RUBHD - 5050)
Major Business is on the water treatment and distribution in Johor area - SAJH. Under a 30-year concession from Mac 2000 onwards, SAJH has the exclusive rights to extract raw water from catchment areas, operate 28 waste treatment plants, and distribute treated water to end consumers in Johor.

As a typical water supplier, RUBHD enjoys steadily increasing revenues, which grew on an average of 12% per year during the past five years, due to continuous water consumption growth and periodic tariff hikes.

FYI, Johor has the second largest water consumption level in the country, just behind Selangor. On the operational lebel, RUBHD has expanded its water production capacity in Johor by 240 Million and invested RM 1.2 Billion in water facilities maintenance and upgrading.
Currently, RUBHD managed to stay profitable despite of high BSR payments charged by other operators, heavy interest charges on private financing (no government assistance was granted to SAJH), and water tariff hijes that were lower than the pre-set schedule. Going forward, the waiver of BSR adn FMP payments will reduce the group's operational cost, cash outflow, and the needs for external borrowings and finally improve RUBHD financial performance.

Constrained by its financial status quo, RUBHD has not issued any dividend yet. However, from my personal analysis, you can see the Net Worth per share is growing tremendously from RM 1.86 (year 2002) to RM 2.85 (year 2006). Again it is a monopoly business for the next 23 year, right now it is around 48% discount up to date.

leong9000

小弟不知好不好把松大分析网站的东西给搬过来，这样会否是版权侵犯呢？

手板是肉，手心也是肉，小弟为难中。。。

只知道这公司与柔佛州签了23年的水务供应服务，其基本面挺符合松大的择股条件，较不理想的是其不高的市场流通量

（胡柴了一堆都没讲到重点。。前辈们莫生气。。。）

Harimau

留意他的季税前盈利的走势吧！

colorwind

今年的annual report我看到高盛也投資了RUBHD的526,000股。而JP Morgan也連續兩年是rubhd的30大股東之一。

invest_klse

我是RUBHD的一名小小小股东。
我是蛮看好它的。

迟点我会多发表些意见。
现在暂且先留下个脚印。

8years

Major Business is on the water treatment
看到这个我就知道大家都正在等炒了，哈哈哈哈哈，还以为song da有什么了不起，还不是在研究那个股会被炒起来。

songda只不过是一个炒家集团吧了，集合一些无知的散户来帮忙他们炒股，这样也要钱，难怪，毕竟每个人都喜欢炒股，正常的，参加songda的这些人以后亏钱我们叫“自己拿来贱，罪有应得”。

小女人下午茶~

RUBHD这个股如果要说炒我看炒家也不会选上它。大股东持有70%的多数票加上股票的流通量也很低，炒家要炒根本就没有什么票可以让他炒。

股友

大股东就是庄家。只要控制２０％的票就可以做乱了。

8years

我听说就是“流通量很低”才好炒，只要有一点点成交量就可以爆起了。

股友

这种玩法有magna，看到magna prima怎样来推就知道了，至少不是暴起暴落的那种

小女人下午茶~

好的公司自己不会特地去炒自己的股票的，rubhd大股东ranhill连续好几年都持有rubhd70%股权。而且这几年一直都有传闻ranhill要把rubhd私营化。

8years

“而且这几年一直都有传闻ranhill要把rubhd私营化。”

这不是让songda买进来炒的原因吗？？

goodluck88

流通量少的股市最好炒的。。。
如果你说市场上的票少很难炒。。。。那么庄家也是可以跟大股东借票的。。。。

JeanGrey

松大不是说债务太高的公司不能买吗？
还有松大说Liquidity不高的公司，要稍微多注意。。。不是吗？

invest_klse

原帖由 8years 于 29-1-2008 08:55 AM 发表
...
Major Business is on the water treatment
看到这个我就知道大家都正在等炒了，哈哈哈哈哈，
...

不要一竹竿打翻整船人。
我从来就不理会是谁在持股，或者有没有人在炒。我只在乎股票的基本面。

invest_klse

我投资RUBHD的原因，已经在我的blog里讲述过了。欢迎有兴趣的人来拜访。

这里只转贴一个重点：

The following passage is taken out from RUBHD’s Financial Report FY-2007, page 97.

"According to the CA, the supply of treated water is charged in accordance to the Scheduled Tariff (water supply tariff to be charged by SAJH for a particular purpose or class of consumers), provided that the SAJH’s Internal Rate of Return (“IRR”) is within the Agreed IRR Band of 14% to 18% over the Concession Period. The Scheduled Tariff is to be submitted to the State Government for approval. The Agreed Tariff (approved Scheduled Tariff) will be gazetted and shall take effect for the applicable operating period on the relevant Tariff Adjustment Dates.

The Tariff Adjustment Dates agreed with the State Government are as follow:

(i) First Tariff Adjustment Date – effected on 1 January 2001;
(ii) Second Tariff Adjustment Date – effected on 1 July 2003;
(iii) Third Tariff Adjustment Date – effected on 1 January 2007; and
(iv) Subsequent Tariff Adjustment Dates – scheduled on 1 January 2009 and thereafter at 36 monthly intervals till 2029.

In the event the gazetted tariff is lower than that of the Agreed Tariff, or in any other event the Agreed Tariff was not adopted, the State Government shall compensate SAJH in accordance with a formula as specifi ed in the CA. "

Isn’t this show that the RUBHD has a stream of income which is guaranteed by the State Government?

tan81

8年兄又在这里燃着火头了。等着看戏学东西。不过，InvestKlse的功课是很有料的。
关于RUBHD 那篇，我稍微看过。等着8年兄来挑问题了。

invest_klse

原帖由 invest_klse 于 29-1-2008 11:52 AM 发表
IRR Band of 14% to 18% ...

IRR = 14% to 18% 是一个很不错的回酬哦。。。
当初我投资它，就是因为它是一间有政府给予guarantee回酬率的公司。