Scientex Berhad

$SCIENTX / 4731 (SCIENTEX BERHAD)
Research Report by KENANGA

$SCIENTX / 4731 (SCIENTEX BERHAD)
Research Report by TA

Analysts are cautiously optimistic on the near-term outlook of Scientex Bhd amid a challenging business environment.

$SCIENTX / 4731 (SCIENTEX BERHAD)
Research by Kenanga

PETALING JAYA: Scientex Bhd continues to caution against a challenging outlook for its packaging business while maintaining an optimistic outlook on the demand for its property division.

KUALA LUMPUR: Scientex Bhd, a global packaging manufacturer and property developer, reported a 24.4 per cent rise in net profit for the financial year ended July 31, 2024 (FY24), reaching RM545.2 million, up from RM438.1 million in the previous year.

© New Straits Times Press (M) Bhd

$SCIENTX / 4731 (SCIENTEX BERHAD)

Continuing the list here (part 2):

$UCHITEC / 7100 (UCHI TECHNOLOGIES BERHAD) (MC: RM1.7bil) - Consistently delivered in its commitment to distribute at least 70% of net profit as dividend since 2003
$ALLIANZ / 1163 (ALLIANZ MALAYSIA BERHAD) (MC: RM 3.6bil) - Dividend policy is to maintain a minimum dividend payout ratio at 30%.
$UOADEV / 5200 (UOA DEVELOPMENT BHD) (MC: RM4.96bil) - Dividend policy of paying 30% - 50% of realised PATAMI
$SCIENTX / 4731 (SCIENTEX BERHAD) (MC: 6.2bil) - maintaining its commitment to distribute at least 30% of annual net profit
$TIMECOM / 5031 (TIME DOTCOM BERHAD) (MC: RM9.24bil) - Dividend payout policy of up to 50% of Normalised PAT

MC: Approximate Market Cap

**Note: the dividend payout is subjected to cash flow, valuation gain/loss of properties, etc. (for details please read their respective annual reports)

Changes in Director's Interest (Section 219 of CA 2016) - TAN SRI DATO' MOHD SHERIFF BIN MOHD KASSIM

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONSPROPOSED ACQUISITION BY SCIENTEX HEIGHTS SDN BHD OF 24 PARCELS OF FREEHOLD LAND, ALL SITUATED IN MUKIM OF PARIT JAWA, DISTRICT OF MUAR, STATE OF JOHOR, MEASURING IN AGGREGATE AN APPROXIMATE AREA OF 442.7566 HECTARES FOR A TOTAL PURCHASE CONSIDERATION OF RM200,000,000.00

Changes in Sub. S-hldr's Int (Section 138 of CA 2016) - MR LIM PENG CHEONG

Changes in Sub. S-hldr's Int (Section 138 of CA 2016) - MR LIM PENG JIN

Changes in Sub. S-hldr's Int (Section 138 of CA 2016) - SCIENTEX INFINITY SDN BHD

Changes in Director's Interest (Section 219 of CA 2016) - MR LIM PENG JIN

Changes in Director's Interest (Section 219 of CA 2016) - MR LIM PENG CHEONG

DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS) : Dealings Outside Closed Period

Changes in Director's Interest (Section 219 of CA 2016) - MR LIM PENG CHEONG

Changes in Director's Interest (Section 219 of CA 2016) - MR LIM PENG JIN

Changes in Sub. S-hldr's Int (Section 138 of CA 2016) - MR LIM PENG CHEONG

Changes in Sub. S-hldr's Int (Section 138 of CA 2016) - SCIENTEX INFINITY SDN BHD

Changes in Sub. S-hldr's Int (Section 138 of CA 2016) - MR LIM PENG JIN

$SCIENTX / 4731 (SCIENTEX BERHAD)
Research by Kenanga
Underperform – TP of MYR 4.00

“Property Upstages Packaging”

SCIENTX’s 9MFY24 results met expectations. Its 9MFY24 core net profit rose 23% YoY driven largely by strong property profits, partially offset by weak packaging exports. We see a similar earnings trend going forward. We maintain our forecasts, fine-tune up our TP by 1% to RM4.00 (from RM3.95) and reiterate our UNDERPERFORM call

Analyst(s):
Thin Yun Jing
thinyj@kenanga.com.my

PETALING JAYA: Analysts expect a soft earnings outlook for Scientex Bhd’s packaging segment this year due to inflationary pressures and rising energy costs.

$SCIENTX / 4731 (SCIENTEX BERHAD)
Research by Kenanga
Underperform – TP of MYR 4.00

“Property Upstages Packaging”

SCIENTX’s 9MFY24 results met expectations. Its 9MFY24 core net profit rose 23% YoY driven largely by strong property profits, partially offset by weak packaging exports. We see a similar earnings trend going forward. We maintain our forecasts, fine-tune up our TP by 1% to RM4.00 (from RM3.95) and reiterate our UNDERPERFORM call.

Analyst(s):
Thin Yun Jing
thinyj@kenanga.com.my

$SCIENTX / 4731 (SCIENTEX BERHAD)
Research by TA
Buy – TP of MYR 5.41

“Property Segment Remains Resilient in 2HFY24 ”

We upgraded SCIENTX from Sell to Buy with a revised TP of RM5.41/share based on Sum-of-Parts (SOP) valuation. We have applied a new PE ratio of 14x for the property segment to align with our smallcap sector target PE. We like the stock due to its diversified business model, which offers multiple growth catalysts that ensure earnings visibility across different economic cycles.

Analyst(s):
Liew Yi Jiet
yjliew@ta.com.my

SCIENTX - Notice of Book Closure

$SCIENTX / 4731 (SCIENTEX BERHAD)
Research by RHB
Neutral – TP RM4.35

“In Line In 3QFY24, Expect a Pick-Up Ahead"

Maintain NEUTRAL, new MYR4.35 TP from MYR3.85, 1% upside with 3% FY24F (Jul) yield. Scientex’s 3QFY24 results are broadly in line with expectations. Its double-digit YoY earnings growth was driven by a robust property segment, while its packaging arm has started to show signs of recovery. We think the stock is fairly valued – it is trading at 11.5x P/E, in line with its historical mean.

Analyst:
Syahril Hanafiah
syahril.hanafiah@rhbgroup.com

KUALA LUMPUR: Scientex Bhd's  net profit for the third quarter ended 30 April 2024 (3QFY24) rose almost 19 per cent to RM130.5 million, driven by improved contribution across the packaging and property development divisions.

© New Straits Times Press (M) Bhd

KUALA LUMPUR: Scientex Bhd has reiterated a challenging outlook even as the packaging producer registered double-digit expansions in revenue and bottomline in its latest quarter.

Quarterly rpt on consolidated results for the financial period ended 30/04/2024