Last Price Today's Change   Day's Range   Trading Volume
1.29   0.00 (0.00%)  1.29 - 1.29  10,000
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Market Cap: 401 Million
NOSH: 310 Million
Avg Volume (4 weeks):96,585
4 Weeks Range:1.28 - 1.36
4 Weeks Price Volatility (%):
52 Weeks Range:1.19 - 1.51
52 Weeks Price Volatility (%):
Average Price Target: 1.55
Price Target Upside/Downside: +0.26
Stamp duty exempted for year 2023

Financial Highlight

Latest Quarter | Ann. Date 31-Dec-2022 [#4]  |  27-Feb-2023
Next QR | Est. Ann. Date: 31-Mar-2023  |  31-May-2023
T4Q P/E | EY: 12.08  |  8.28%
T4Q DY | Payout %: 3.07%  |  37.12%
T4Q NAPS | P/NAPS: 1.2977  |  0.99
T4Q NP Margin | ROE: 6.06%  |  8.23%


Date Subject
16-Mar-2023 MQ Market Updates - 16 March 2023
10-Mar-2023 PublicInvest Research Headlines - 10 Mar 2023
10-Mar-2023 Mplus Market Pulse - 10 Mar 2023
10-Mar-2023 Able Global to Sell Kuala Langat Land for RM18 Mil in RPT Deal
28-Feb-2023 Able Global Berhad - Within Expectations
20-Dec-2022 【 Able Global Berhad 】墨西哥出口准证、Get!
16-Dec-2022 Malaysia 1H 2023 - Navigating A Tougher Year
15-Dec-2022 Able Global Berhad - Approval In-Principle Granted
30-Aug-2022 安珀挑战RM1.37/敏源
02-Jul-2022 ABLEGLOB (7167): Capable local company, great Global ambitions
20-Jun-2022 原料飙升 艾比全球乳制品将涨价

Business Background

Able Global Bhd (previously known as Johore Tin Bhd) is principally engaged in the business of investment holding and the provision of management services. The group is organised into the three main reportable segments: Investment Holding; Tin Manufacturing; and Food and Beverage. Investment Holding is involved in the business of investment holding and provision of management services. Tin Manufacturing is involved in the manufacturing of various tins, cans, and other containers. Food and Beverage are involved in manufacturing and selling of milk and other related dairy products.
Analyze this stock with MQ Trader system

  16 people like this.
Barneybubu The information on the disaggregation of revenue based on geographical region is summarised below:-

At a Point in Time

Africa - 77,472,123
Asia - 190,431,251
Central America - 80,057,780
Europe - 5,151,148
Malaysia - 148,564,256
Others - 583,166
Total - 502,259,724

(From annual report 2020)

So yes, their export sales is more significant. Cannot just judge their f&b products solely based on Malaysia market. But for sure, they focusing on low end market.
28/12/2021 11:43 PM
Pinky Thanks Barney!
29/12/2021 10:30 AM
镠公公 afe
31/12/2021 8:22 AM
Pinky I'm officially back in this stock
31/12/2021 9:19 AM
OldWiseMan100 was going through the products again, and then I noticed they dont use words like 'Organic', 'Natural'.... and their packaging lack of design show cows grazing grass etc.

If want to go up market, need to redesign the packaging. need to have premium look, now too kiddy looking.
16/01/2022 11:04 AM
OldWiseMan100 https://www.walmart.com/ip/Horizon-Organic-Growing-Years-Whole-Milk-with-DHA-Omega-3-Half-Gallon/819878780



Above are some really good examples of a good design. Also Able's packaging lacks 'nutrient' information. Informing the customer the benefits is very important too.
16/01/2022 11:06 AM
huat_ahh What organic, what natural stuff are you talking about??
A smart consumer will always look at the Nutrition Facts at the packaging for all relevant information, rather than the gimmick "organic", "natural".... bla, bla, bla
Aren't all the products SQF certified?

Able's packaging design and packaging outlook are for public acceptance, not just to suit individual perception only.
17/01/2022 9:45 PM
solaris80 Expected to export their products to Walmart USA soon.
17/01/2022 9:54 PM
All_in_2021 any idea these products is it popular in Malaysia?
16/02/2022 5:14 PM
Pinky Able Perfect is not part of the group

see page 11:

16/02/2022 5:49 PM
Pinky Results not bad ah

Why kena sell down?

25/02/2022 5:54 PM
All_in_2021 yalo market really hard to predict
25/02/2022 6:43 PM
kedsheong Obviously price manipulation... Spoofing seen for the past few weeks. Manipulators putting large sell orders to scare retail traders, then scoop up the shares at cheap prices.
25/02/2022 7:15 PM
Pinky Let's see the trades Monday morning then we'll know if it's manipulated by big fish
25/02/2022 7:22 PM
kedsheong https://neurensic.com/spoofing-works-illegal/
25/02/2022 7:23 PM
kedsheong With their financial strength, they can push the price A LOT lower to make even the calmest investor nervous. Panic selling is a big mistake. The best way is to buy & hold tight, DON'T look at the price fluctuations which will drive you crazy. If it gets really low, buy more at a greater discount. Never doubt your investment in a good company unless the fundamentals have changed.
25/02/2022 7:36 PM
Zackmeiser Acceptable result. Buying below 1.5
26/02/2022 1:14 PM
Pinky Added some at 1.49
28/02/2022 9:07 AM
All_in_2021 hang on to it..profit every quarter..it is the market sentiment causing all to drop
02/03/2022 8:01 AM
kedsheong drop more, buy more.
02/03/2022 10:28 AM
All_in_2021 is it time to go in?
04/03/2022 1:03 PM
kedsheong Wait for a bullish engulfing candle with high volume, then you go ALL in.
07/03/2022 10:07 PM
Mark Goh Want to compare this stock with its peers?

LVI: Food & Beverages Sector Price to EPS Peer Comparison (and economic moat)
11/03/2022 12:18 PM
sunshine90 Get the export permit ?
04/04/2022 10:18 PM
silvernina I guess company is having Good value ?
07/05/2022 5:42 PM
treasurehunt Suddenly sold out big tickets. Cut margin facilities ke?
24/05/2022 4:50 PM
All_in_2021 cut loss, with the high material cost, dont think it looks good in the short term.
24/05/2022 7:56 PM
treasurehunt Dump at cheaper prices lor so new comers can join the boat.
24/05/2022 7:59 PM
charonflytea Thanks for the update
26/05/2022 4:42 PM
InsiderShark every country will protect their food industry, setting up farm in Mexico and import it to USA is a bad idea. USA will protect their dairy industry by imposing import tax or something... unless that product is unique or not essential, like chocolate or rice
31/05/2022 6:59 PM
treasurehunt Now, the price has dropped to 1.25 only wor.Want to drop until 1.00, lowest price in covid times ?
20/06/2022 6:30 PM
Zackmeiser Holding 1.2 for sometime now
18/07/2022 5:01 PM
Effulgence https://klse.i3investor.com/web/blog/detail/extraordinaryyou/2022-07-02-story-h1625207444-ABLEGLOB_7167_Capable_local_company_great_Global_ambitions
24/07/2022 5:07 PM
BostLoy HY2022 results seem reasonable. I wonder why this company only publishes CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS plus some Notes to the Condensed Consolidated Statement of Cash Flows. Why not simply the complete cash flow statements?
31/08/2022 1:40 PM
lomas Stock price went up from RM1.19 to RM1.35
Not bad.
05/09/2022 10:16 AM
treasurehunt The market conditions is favourable to the company as raw material price reduction plus depreciation of RM against USD. No more RM 1.
07/09/2022 7:38 PM
treasurehunt Export consumer staples sector seems attracting market interests recently ie Ablegloble, Kawan, Pwroot, 3A, Tguan and BP plastic.
07/09/2022 8:12 PM
lomas Target Price RM1.40 achieved
12/09/2022 10:36 AM
Pinky Why public bank no update report after latest QR?
20/09/2022 11:09 AM
bullrun1985 anyone still holding ableglob here? any advise
05/10/2022 4:46 PM
alexnada I am still holding for long term... frankly, I have confident in them... just waiting for time for the potential turn into real profit
05/10/2022 5:44 PM
bullrun1985 stagnant for some time, market big crash oso no moving
06/10/2022 9:41 AM
tantengbear Earnings should improve in the next result. Raw material prices have peaked and Mexican JV should start to contribute more by next year when health permit is approved for export by the end of this month.
14/10/2022 7:24 PM
bullrun1985 walk like an elephant, no up down
28/10/2022 3:03 PM
Chua See How Post removed. Why?
18/12/2022 11:33 AM
solaris80 回顾 2017 年,Johore Tin 透过旗下子公司 Able Dairies 注资在 Able Dairies Mexico,并手持 40%的股权。

其他 60%股权则由 2 位现有企业客户和另 1 位私人伙伴持有,联手在当地设立炼乳厂。
在 2019 年,Johore Tin 进一步注资入 Able Diaries Mexico,并将持股率提升至 43%+,前后累积投
入大约 RM23m 的资金。根据计算,该座墨西哥厂房的总投资成本约为 RM50m,包括购买土地、

目前,该座新厂房已准备就绪投入商业运作,设计产能为每年 120,000 吨,主要专攻墨西哥邻国
的市场。内部目标是在第一年实现 30-50%的使用率,之后在第二年实现 60-70%。
据了解,只要达到 30%使用率,墨西哥厂房即可达到收支平衡。初期的产量已确认将由墨西哥、

Johore Tin 的 2 位合资伙伴主要是墨西哥著名的食品开发商和营销商。透过他们广泛的分销网络和
现成市场,其自有品牌 Able Farm 有望在当地开拓市占率。


目前,墨西哥大约 70% 的乳制品市场由雀巢 Nestle 统治。这项合资计划将使 Johore Tin 有能力与

值得一提,Johore Tin 的大马厂房每年能生产 160,000 吨的乳制品,并且创造 RM40m 左右的营运
盈利。假设以相同比例计算,其墨西哥 120,000 吨的合资厂房一年有能力创造 RM30m 利润。
20/12/2022 10:48 AM


锡罐制造 – 制造各种类型的罐头和容器,及提供锡片印刷服务。大部分产品都卖给食品、油漆、化学和食用油的客户,主要售卖给本地。

奶制品 – 售卖炼奶,淡奶和大小包装奶粉, 80% 的产品都是出口至美洲、非洲和东南亚地区。目前产能为每年160,000 MT。


• 非洲 (15.0%)
• 亚洲 (41.6%)
• 中美 (9.3%)
• 欧洲 (0.8%)
• 墨西哥 (0.5%)
• 马来西亚 (32.9%)


• 锡罐制造 25.5%
• 奶制品 74.5%


1) 营业额

• 公司出口至中美地区的销售在2021年出现大幅度的下滑 (从RM80 mil下跌至RM46 mil),主要是公司在墨西哥的联营工厂已经开始营运。该工厂主要出口给墨西哥和美国等周边国家,而联营公司的营业额并不会纳入集团的营业额当中;

• 管理层表示虽然目前全球都在面通胀的问题,但这并不会影响公司产品的需求,客户也已经接受公司提高产品的销售价格。

2) 成本

• 公司主要的原材料是镀锡 (tinplate) 和奶粉 (milk powder),各占了公司30% 及70% 的库存。库存的提高主要是公司为了囤积更多原材料,确保生产不会出现断层;

• 管理层表示原材料价格的上涨平均在落在10% 至50% 的区间;

• 目前公司正在尽可能把额外的成本转嫁给客户,但转嫁的速度比不上原材料上涨的幅度;

• 随着原材料价格近期的走势比较稳定,公司的profit margin在未来预计会正常化。

3) 墨西哥厂房

• 墨西哥工厂的产能和大马相同,每年大约可生产80,000 MT的奶制品;

• 目前公司还在等待相关单位的出口准证 (Export permit),只要获得出口准证,公司的墨西哥工厂就可以出口至周边国家如美国;

• 公司也获得Walmart的批准,目前可以出口至全球的Walmart分店。Walmart所有的供应都会来自墨西哥厂房;

• 目前墨西哥厂房使用率维持在20%;

• 墨西哥厂房的营运让公司在大马的厂房有空出的产能。管理层也会积极寻找亚洲的客户去填补额外产能,提高厂房使用率。

4) 公司目前也是面对劳工短缺的问题,最低薪金制也会部分影响公司的盈利。管理层表示会转嫁成本给客户。

5) 未来并不会有大型的资本支出,主要的CAPEX都会用在替换久机器去提高产能效率。


公司的盈利成长取决于墨西哥厂房何时能获得出口准证。只要准证到手,相信管理层也能快速提高墨西哥厂房的使用率,实现更多盈利。我们预计公司未来1至2个季度的margin 会受到承压,但长期而言公司还是有能力把成本转嫁给客户。公司目前的本益比为10.6倍,假设盈利成长10% 左右,本益比会来到9.5倍,估值相对有吸引力。
16/01/2023 4:05 PM
Nepo Can buy already
Topped up @RM1.45
16/01/2023 6:54 PM
curiousq Nepo
Can buy already
Topped up @RM1.45

Average down?
28/02/2023 9:21 AM
kedsheong just be patient. buy and hold. it's a fundamentally strong company.
28/02/2023 1:19 PM

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