KLSE: CANONE (5105)       CAN-ONE BHD MAIN : Industrial Products
Last Price Today's Change   Day's Range   Trading Volume
2.98   0.00 (0.00%)  0.00 - 0.00  0
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Market Cap: 573 Million
NOSH: 192 Million
Avg Volume (4 weeks):72,995
4 Weeks Range:2.80 - 3.09
4 Weeks Price Volatility (%):
52 Weeks Range:2.80 - 4.10
52 Weeks Price Volatility (%):
Average Price Target: 3.65
Price Target Upside/Downside: +0.67
Stamp duty exempted for year 2023

Financial Highlight

Latest Quarter | Ann. Date 31-Dec-2022 [#4]  |  23-Feb-2023
Next QR | Est. Ann. Date: 31-Mar-2023  |  26-May-2023
T4Q P/E | EY: 6.23  |  16.05%
T4Q DY | Payout %: 1.34%  |  8.36%
T4Q NAPS | P/NAPS: 9.5021  |  0.31
T4Q NP Margin | ROE: 2.77%  |  5.03%


Date Subject
26-Aug-2022 MQ Market Updates - 26 August 2022
16-Aug-2022 MQ Market Updates - 16 August 2022
16-Aug-2022 Trading Stocks - Can-One
30-May-2022 上升股:冠旺 阻力RM4.10
25-Apr-2022 PublicInvest Research Headlines - 25 Apr 2022
25-Apr-2022 Mplus Market Pulse - 25 Apr 2022

Business Background

Can-One Bhd engages in manufacturing of metal and lithographed cans, plastic jerry cans, and packaging and distribution of dairy and non-dairy products. It operates through following segments: General Cans, Food Products, International Trading, and Property and Investment Holding. The General Cans segment includes manufacturing and distribution of lithographed tin cans, plastic jerry cans, flexi pack, and rigid pack. The Food Products segment offers manufacturing and distribution of foods products. The International Trading segment involves the trading of dairy products and raw materials. Firm’s Property and Investment Holding segment and Food Products segment account for majority revenue of the firm. The firm generates a majority of its revenue from Malaysia region.
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  9 people like this.
treasurehunt The additional 9% windfall tax would be around 9 million provided Canone is able to achieve PBT 200 million in 2022. Minimal impact to mid company.
29/10/2021 8:04 PM
mcheat @treasurehunt Can-One profit not entirely derived from Malaysia as Vietnam and Singapore contributed a sizable chunk of profit too.
03/11/2021 11:58 AM
treasurehunt Mchea. Canone's Trading arm is located in Singapore. The entire purpose is to centralise the export sales from its Malaysia's operations to overseas customers The Trading arm earns the differences between higher selling prices to customers and intercompanies purchases.
03/11/2021 2:35 PM
Ooi Cheng Kee Can one become Cannot one
03/11/2021 3:04 PM
mcheat @treasurehunt Exactly, that's why they may not have big exposure to cukai makmur as sizable chunk of profit are not derived in Malaysia. Furthermore, the profit earned in Malaysia is captured in several entities instead of just one entity. Hence, taking into these consideration may not even have exposure to cukai makmur.
03/11/2021 3:37 PM
mcheat Or i should not use the tëchnical term "derive".....i should use the term "captured" or "booked" in Malaysia
03/11/2021 3:39 PM
Value_Investor_888 Post removed. Why?
10/11/2021 10:56 AM
gemfinder luckily booked profit at 4.51. tq tq
15/11/2021 10:42 AM
mcheat Just realise that there were some changes in the head of finance of both boxpak and canone earlier this year....both cfos left
15/11/2021 3:15 PM
Leo1960 Useless stock
16/11/2021 5:17 PM
EVEBITDA 3.80 will be coming soon... technically but we also have results soon.. at 3.80 good support. see if it can break before results.
18/11/2021 1:32 AM
Ooi Cheng Kee Engine start
19/11/2021 3:58 PM
Ooi Cheng Kee Pancet
25/11/2021 10:50 AM
sangkancil https://fb.watch/9u1L_qo-c8/
alluminium and PET bottling
25/11/2021 4:40 PM
sangkancil Despite movement restriction in Vietnam and Malaysia,
Can1 still recorded profit. Lower revenue thus translate to lower profit, if they regain in full capacity ,I think they should have a better quarterly report on 4th quarter .
25/11/2021 7:14 PM
treasurehunt QR bagus tapi harga dah sangkut.
25/11/2021 7:24 PM
sangkancil Current market condition is no longer base on logic . its good for bargain hunting for value stock now .
25/11/2021 9:09 PM
sangkancil I owned Kianjoo berhad (KJB)share previously as long term investor until the day it was privatized by Can1
KJB was valued at 1.4 B , KJB was also bid by a Japanese consortium value it around 1.4x B when they want to get the 32.9 % KJB share owned BY Can1.
Before privatization
KJB market cap around 1.4B
Can1 around 600M
after privatization
Today market cap about 800m
that mean a combined market cap of 2 B become 800M
Can1 sold their creamer business for 1B that is extra money
so now at this price u buy Canone is like last time u buy KJB and get free can1 share with Extra 1B cash proceed from selling the creamer business + their factory land machinery +etc

Business model
market condition 2015 vs 2022 didn't change much
business model didn't change much
recession proof industry
market leader in South east Asia and Malaysia ( 70% market share )
now share price around RM 4

In summary , you can do your math and its just my opinion . Buy at your own risk
P/s I owned Canone bhd share
25/11/2021 9:25 PM
sangkancil analysis from treasure hunt was good, the main problem with this counter is lack of coverage by analyst + the management team not doing enough cooperate presentation in engaging with investor unlike Able Global (Johor Tin )
25/11/2021 9:50 PM
sangkancil "Candemic "= can shortage during pandemic

27/11/2021 11:09 PM
sangkancil Coca-Cola’s supply chain under pressure due to shortage of cans

27/11/2021 11:12 PM
sangkancil factory site visit
01/12/2021 6:37 PM
sangkancil @treasurehunt , a lot of possibilities, we wont know about it. They are operating at 60 % capacity , if still can make money is very good .
risk to Can1 is minimal .now Can1 drop due to market sentiment
1.The reemergence of omicron virus won't affect them much if another lock down , last MCO Can1 still can operate at 60% unlike a lot of factories .
2.The risk of force labor issue is minimal unlike the glove and EMS sector .
3.No single concentration of main customer .
4. Foreign worker : Can1 don't depend on Indonesia worker unlike construction and plantation sector

Can or cannot in this market will need Mr Market to answer ....
01/12/2021 7:15 PM
treasurehunt @ sangkancil. In overall, we can't deny that general can division is operating in a relatively stable business environment.Wait and see the 4th Qtr 21.
01/12/2021 7:21 PM
sangkancil https://news.zol.com.cn/765/7652117.html
01/12/2021 10:41 PM
sangkancil 根据财报,可口可乐今年Q3的营收增长主要是由于销量的大涨和价格上调抵消了商品和运费上涨带来的影响。



01/12/2021 10:48 PM
sangkancil 空前的供应链混乱正在全球各个行业上演,今年全球汽车行业因芯片短缺损失约2100亿美元,食品饮料行业也被波及。供应链危机导致包装、物流、能源等供不应求、价格上涨,这与大宗商品价格上涨和粮食供应短缺叠加,更加导致企业不得不通过涨价抵消成本的上涨。

01/12/2021 10:48 PM
sangkancil E. RISKS
Volatility in commodity prices. Raw material generally makes up 70% to 80% of Can-One’s cost. Any big changes
in commodity prices will result in margin compression as it takes time for the company to pass on costs to its customers.
Foreign exchange risks. Can-One’s profitability is subject to currency effects as the raw material it uses are directlyor indirectly quoted in USD. About 35% to 40% of the group’s raw material costs are quoted in USD while the
remaining is sourced locally in ringgit. However, its income is naturally hedged as about a quarter of its sales are for export market.
Operational risks. Can-One is subject to local and foreign policies that could impact its profitability. Such policies include minimum wage, import and export policies among others. As a manufacturing company, it may also experience operational disruption such as pro-longed machinery breakdown/ accidents that could potentially affect its output. As an established company, we believe that Can-One have implemented sufficient measures to prevent such events and minimise impact of these incidents.
05/12/2021 4:16 PM
thesteward At current price so undervalue
29/12/2021 3:47 PM
thesteward Hopefully close the year at 4.50 at least
30/12/2021 12:05 PM
sangkancil survive the crash.. not tech stock, no forced labour issue , not glove related ,
Stable business
15/01/2022 6:10 PM
Ooi Cheng Kee QR BOM
24/02/2022 9:11 PM
firehawk The Group's net revenue for Q4, 2021 increased by RM101.2 million or 15.3% to RM763.8
million. Loss before tax reported by the Group was RM199.0 million in Q4, 2021 mainly due to
the following:
- Inventories written down of RM26.9 million; and
- Impairment of property, plant and equipment and right-of-use assets of RM214.0 million.
24/02/2022 11:03 PM
firehawk Operation profit margin also deteriorates,

4Q21 4Q20
Revenue 763,790 662,583
Cost of sales (697,915) (571,721)
---------- ---------
Gross profit 65,875 90,862
24/02/2022 11:37 PM
firehawk The most interesting part is,
the share price dropped significantly in high vol,
and later, after market closed, the Q result was announced at 5.42pm,

:D :D :D
25/02/2022 10:43 AM
nuke Probably involves Myanmar operations write-off like Boxpak (an associated co.?) .
25/02/2022 11:05 AM
treasurehunt The impairments came from Myanmar operations & Contract Packing.

Impairment of PPE:
- Box Pak Myanmar - 95.6 million
- General Can Myanmar - 69.6 million
- Contract Packing - 59.8 million

Inventories written down:
- Box Pak Myanmar - 13.3 million
- General Can Myanmar - 15 million
25/02/2022 11:20 AM
alibiii good info treasurehunt, where is all this info? cant find in the QR.
25/02/2022 11:35 AM
treasurehunt Machineries in Myanmar remains running but at lower capacity due to economy slowing down after army has taken over government .
25/02/2022 11:53 AM
treasurehunt alibiii. You have to read Box-Pak quarterly report first in the Review of Performance and follow by CanOne. Impairment PPE & inventories written down is derived from the total value in Canone after deducting Box-Pak's figures.
25/02/2022 11:59 AM
alibiii i see i see. Thanks treasurehunt. This will be one off and next QR should be good. Rm3 should be good entry point
25/02/2022 12:03 PM
treasurehunt It's actual a kitchen-sinking exercise.
25/02/2022 12:04 PM
alibiii haha true. If situation improve there may have positive write back in the future
25/02/2022 12:12 PM
sheldon Not much explanation given on the massive inventory & property, plant & equipment write down.

I personally have written-off this counter. I made >25k the first round. My 2nd strike doesn't look good in the near term. So I'll leave it aside & just collect whatever microscopic dividends they declare.
01/03/2022 1:15 PM
8899EL8899 sell profitable business,......go to buy unprofitable can joo company,......
10/04/2022 2:32 PM
sangkancil China-based canmaker Baosteel’s first beverage can plant in Malaysia has started production. Located on a 16-acre site within the Eco Business Park V at Puncak Alam in the Klang Valley of Selangor state, construction of the plant began in December 2020 with commercial cans being made this month (February). The first phase of the RMB461 million (US$66m) project has the capacity..
19/04/2022 3:01 PM
sangkancil It is a profitable business , otherwise china won't invest a plant in Malaysia
19/04/2022 3:03 PM
Leo1960 China invest in Malaysia so that they can dump all their toxic materials in this Bolehland. The Japanese are also doing that now to keep their country clean after the Minimata incident
02/05/2022 3:00 PM
treasurehunt Baosteel ad for employment of Assistant Production Manager. Salary: 4,500 - 6,300 MYR.
Salary so low ke?
02/05/2022 3:54 PM
Michael Kwok Sell call canone 3.90-3.95.
Tp below 3
24/8/2022 9.16pm
24/08/2022 9:17 PM

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