PANAMY最新年度财政报告

PANAMY最近出了年度财政报告，
对于有投资PANAMY的我来说，
当然得看一看了。

首先，
过去一年PANAMY的营业额下跌了5.9%，
税前盈利更是下跌了21%:

过去一年，
本地市场因为从GST转去SST而享有短暂的零税时期，
所以还算不错。

但外围则因为美国的贸易政策影响，
所以公司的出口表现下滑。

不过公司预计今年会有所改善，
并且会注重在东南亚市场特别是越南和菲律宾。

公司开始使用更多Automation and robotics system，
减少人力的依赖：

目前安全的17个自动机械系统预计每年可以节省一百万马币。

还有Auto Brazing system也安装了5个自动机械系统，
每年可以节省60万马币:

2019年1月时，
公司已经完成办公室的迁移，
现在则注重于SA2 Plant的建筑工程，
预计会在2020年年尾完成。

话说很多人一直都以为PANAMY有生产电视机和冰箱等大型电器，
但其实不是的。

目前公司的战略是当小型电器的第一，
在“小岛上当巨人”：

主要的小型电器，
就是风扇、淋浴机和厨房电器等等：

以及：

以上就是本次年度财政报告的重点，
若你觉得有所不足的话，
欢迎到BURSA网站自己下载一份来细读。

总的来说，
今年主要就是东南亚市场了。

毕竟公司就在马来西亚，
那么生产这些符合东南亚地理环境的电器也算是明智的选择。

虽然PANAMY过去一年的业绩不是很好看，
但因为有高股息的支撑，
所以股价仍然稳居高点。

就让我们拭目以待接下来这个星期即将释出的最新季报吧！

投资就是自己思考，自己做决定。

感谢阅读。

以上言论没有任何买卖建议，
大家买卖自负。

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其他链接：
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2019年文章目录

2018年文章目录
2017年文章目录

PANAMY latest annual financial report

PANAMY just released the latest annual financial report,
as I am holding PANAMY shares,
of course I must take a look at it.

First of all,
for the past one year,
the revenue of PANAMY dropped by 5.9%,
thus the profit decreased by 21%:

For domestic market,
since there was a short tax break when transitioning from GST to SST,
so the performance wasn't that bad.

HOWEVER,
the export market was deeply disrupted,
because of the trade sanctions imposed by US:

The company expected that this year will have better financial performance,
and more focus will be put into ASEAN market,
especially Vietnam and Philippines.

The company also started to implement more Automation and robotics system,
to reduce the dependence of manpower:

17 units of robotic systems were installed and will be able to save approximately RM1.0 million per annum.

Apart from that,
5 units of robotic systems also instead for the Auto Brazing system and expected to save around RM0.6 million per annum:

The company already completed the transfer of new office building at end of January 2019,
and now focusing on the new building construction at SA2 plant,
which expected to complete by end of 2020.

Until now,
still a lot of people think that PANAMY produce large appliance like TV and refrigerator,
but actually NO.

The company's strategy is to be the No.1 Small Home Appliances Factory in Asia,
to be the "Giant in a small island":

Some small appliances for examples are ceiling fans, home showers and kitchen appliances:

Also:

That's all for the important points of this annual report,
if you feel like something is lacking,
feel free to go to BURSA website to download and read it.

For conclusion,
this year the main target will be ASEAN market.

Well....
Since the company is located at MALAYSIA,
so I think is a good idea if thinking of geographical location.

Even though the financial result of PANAMY for the past 1 year wasn't handsome at all,
but because of the high dividend payout,
so the shares price is still able to maintain at high level.

Let's look forward to the quarter financial result which going to be released at next week.

Investment is about doing own thinking, making own decision.

Thanks for reading.

I don't provide any buying/selling suggestion above,

please make your own investment decision and be responsible with it.

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PANAMY最新季度财政报告

今天来看看PANAMY在11月尾出炉的财政报告。

首先：

营业额和盈利比起去年同季进步很多，
真是令人开心~

不过这一季营业额增加那么多是有原因的...........
稍后就会提到。

然后业务方面：

风扇业务的成绩不错，
但Home Appliance的盈利就没去年那么好看了......

各地的业务：

只有马来西亚的营业额进步很多，
当然，
这是有原因的...........

就像下面所提到的，
本地营业额增加是因为零GST到8月31日为之，
所以很多商家和消费者都选择在这一季买入PANAMY的产品。

出口方面的下跌，
主要是中东和越南市场的需求下滑。

盈利方面，
主要都是跟着营业额的增加而水涨船高。

Home Appliance的低盈利时因为原料成本上涨和不佳的产品组合销售。

管理层的展望：

看起来不管是本地或出口业务的展望都不是很好，
公司接下来似乎要着重于降低成本。

最后是人见人爱的股息：

风雨不改，
每年都是每股15 sen~

季度报告就到此为止，
觉得不详细的话欢迎去Bursa网站下载来看。

至于PANAMY是不是还值得继续持有呢？

投资就是自己思考，自己做决定。

感谢阅读。

以上言论没有任何买卖建议，
大家买卖自负。

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其他链接：
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关于本人
我的脸书专页

我的推特：@TheCellist86

PANAMY latest financial report

Today I would like to have a look at PANAMY's latest financial report which was released at end of Novemeber.

First:

Comparing with same quarter last year,
the revenue and profit improved a lot,
such a good news~

However there are reasons why was the revenue improved which will be mentioned later.........

For more details of the segment:

The fan business was good,
but the profit of Home Appliance business was not as good as last year............

Based on geographic:

Only the revenue in Malaysia improved a lot,
of course,
there was a reason behind it...........

Just like what was mentioned at below,
a lot of dealers and consumers chose to buy more PANAMY products at this quarter since the zero GST was until 31st August only,
that was the reason why revenue in Malaysia improved so much.

The lower revenue of export was due to the lower demand in Middle East and Vietnam market.

The main reason of growing profit was because of the growth of revenue.

The Home Appliance segment didn't perform well was because of rising cost of raw material and unfavorable product sales mix.

The outlook by management:

Seems like the outlook for both domestic and export market is not very good,
seems like the company will focus more on prudent cost management.

Lastly,
the dividend which everyone love:

Again another 15 sen per share for this quarter~

That's all for the financial report,
if you thini it is not detailed enough,
feel free to go to Bursa website to download the report and read again.

As for whether is it still worthy to invest at PANAMY?

Investment is about doing own thinking, making own decision.

Thanks for reading.

I don't provide any buying/selling suggestion above,
please make your own investment decision and be responsible with it.

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My self-introduction article

My Facebook Page

My Twitter : @TheCellist86

PANAMY 2018年度财政报告+第1季财政报告

今天想来看一看PANAMY的年报。

首先PANAMY拿到了一个奖项：

这可说是PANAMY在Home Appliances业务里越做越好的证明，
不必太依赖风扇业务。

接下来，
这里有提到说今年因为PANASONIC母公司成立100周年纪念，
才会多派100 sen的special dividend。

所以2018年里一共派出248sen的股息，
至于明年呢？
那就得看公司要庆祝什么了~
不过最好还是别期待太大。

然后这里有提到说，
在Shah Alam Plant 1的新办公室建筑物会在新的财政年里建好，
等把办公室迁移完毕后，
旧建筑物的办公室区域就可以转换成制造业务区域，
到时制造业务的区域就会多扩展18%。

公司多了18%的空间来充作制造业务区域，
是否就表示业务会增加18%?

这就得看公司如何善用这空出来的空间了~
然后还在计划中的Shah Alam Plant 2新建筑物也预计将在2020年完成~

公司最近也重组了PDED部门，
可以在税务上获得双倍减免，
剩下8.5 million左右。

然后这里有记录目前PANAMY所负责制造的产品：

公司今年的营业额成长了7%:

主要归功于Vacuum cleaners的更佳销售，
风扇业务在中东市场的复苏，
以及Home shower products的需求量增加。

Home shower products方面有进一步解释说需求量增加，
是因为更积极的年尾促销，
以及马来西亚、菲律宾和越南的寒冷天气。

Vacuum cleaner的销售量上升也是多亏了促销活动。

公司最近也推出了新系列的rice cooker产品以针对越南市场：

风扇业务也有新的设计即将推出。

以上就是年报里我个人觉得值得一提的部分。

多亏促销活动，
PANAMY第4季的业绩也比较好看。

但也因为如此有了后遗症，
那就是接下来第1季的业绩.....................

唉....................
真是一言难尽..............

管理层的解释：

主要原因就是除了本地市场和东南亚市场，
其他区域的业务都下滑所致。

马币兑美元上升也是一个因素：

管理层的展望：

看来似乎要实行更严格的成本控管了~

以上就是最近PANAMY的进展。

很可惜8月24日我身在国外，
无法出席PANAMY的股东大会，
也没得领取两张RM50的固本...........-_-)

不管怎样，
PANAMY积极建造新建筑物，
准备更多空间来让公司发展，
可见得未来还是有潜力继续发展。

但又有多少人有耐心地长期投资等待呢？

投资就是自己思考，自己做决定。

感谢阅读。

以上言论没有任何买卖建议，
大家买卖自负。

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其他链接：
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我的脸书专页

我的推特：@TheCellist86

PANAMY Annual Report 2018+ 1st quarter financial report

Today I would like to write about the annual report of PANAMY for financial year 2018.

First,
PANAMY received an award:

This proved that PANAMY is doing better in Home Appliances division,
and do not need to rely too much on fans division.

Next,
it was mentioned that a special dividend of 100 sen has been recommended,
to commemorate Panasonic Corporation 100th Year Anniversary.

So a total of 248 sen dividend will be distributed for financial year 2018.
As for next year?
Well........
It depends on what the company can celebrate with~
Better don't put too high expectation on it.

Next,
the new office building at Shah Alam Plant 1 is expected to complete at new financial year.
After relocating the office,
the current office space can be turned into production area and increase the the production area by 18%.

However,
will the 18% increment of production area boost the operation by 18%?

Well.........
It all depends on how good the company will be using that extra space.
Also,
the new building at Shah Alam Plant 2 which is still in planning stage,
is expected to complete at year 2020.

The company also re-organize the PDED to claim for double tax deduction.
The annual tax savings is estimated to be RM8.5 million.

Hereby also mentioned about the products by PANAMY:

The company revenue grew by 7% :

It was mainly contributed by higher sales of vacuum cleaners,
the recovery of ceiling fan business at Middle East markets,
and increased demand of home shower products.

Due to aggressive year end promotional acitivites and cooler weather in Malaysia, Philippines and Vietnam,
the sales of home shower increased.

The aggressive promotional activities also help boosted the sales of vacuum cleaner.

The company also launched new series of rice cooker to target Vietnam market:

New design of ceiling fan will be introduced too.

That's all for the information written in annual report which I personally think that is worthy to be mentioned here.

Thanks to the aggressive promotional activities,
the 4th quarter financial result of PANAMY looked nice.

HOWEVER,
it also impacted the following 1st quarter result too..............

AIKS................

The explanation by management:

Basically,
except domestic market and ASEAN market,
the export sales for other region dropped.

Also,
the strong Ringgit against US Dollar also affected the export revenue:

Prospects by management:

Seems like the company going more strict on cost management~

That's all for what happened to PANAMY recently.

Sadly that I wasn't able to attend PANAMY AGM since I was at oversea.
Ahhh.........
my two coupons of RM50............-_-)

ANYWAY,
PANAMY is building new buildings and preparing more space for expansion,
so it seems like the company still have potentials at the future.

The question is..............
how many people will be able to have the patience to invest at it for LONG TERM?

Investment is about doing own thinking, making own decision.

Thanks for reading.

I don't provide any buying/selling suggestion above,
please make your own investment decision and be responsible with it.

Recent articles :
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Other links:
List of articles of year 2018
List of articles of year 2017
My investment return for year 2017
My self-introduction article

My Facebook Page

My Twitter : @TheCellist86