Wednesday, December 26, 2012

Chemical Company of Malaysia

At the time of writing, Chemical Company of Malaysia (CCM) share price should be consider trading at its historical low level, this may due to it is one of the share that EPF actively dispose in the past 2 months, and one of the event for CCM on the 26th December 2012 is the expired of its warrant B (CCM-WB) which have an indicative conversion price of RM1.36, way higher than today closing price of RM0.85.

And from the Bursa announcement, you can found that PNB have 52,821,503 units of CCM-WB that is just  lapse like that after the expired date. So the actual CCM-WB that had convert to mother share should be very less and their cost will be at least RM1.36 plus the price of CCM-WB that they bought into.

With the NTA of RM1.86 it share price is just trading at 0.46X of its NTA, only it's PE of 15X and dividend yield is not so attractive at the moment, it should be a good company to be monitor under my list.

Just a side story, suddenly found the stock detail for CCM in klse.i3investor website should be an error, they write as below,

Concord Medical Services Holdings Limited operates a network of radiotherapy and diagnostic imaging centers in China. As of December 31, 2009, the Company's network comprised 88 centers based in 57 hospitals, spanning 36 cities across 21 provinces and administrative regions in China. Most of the centers in its network are established through long-term lease and management services arrangements entered into with the hospital partners. Under these arrangements, Concord Medical receives a contracted percentage of each center's revenue net of specified operating expenses. In April 2010, the Company's subsidiary Shenzhen Aohua Medical Leasing & Services Limited acquired Tianjin Kangmeng Radiology Equipment Management Co., Ltd. Effective July 1, 2010, the Company entered into a joint venture with Chang'An Hospital for the operation of Chang'An Hospital's cancer treatment facilities by acquiring a 52% equity interest in Xi'an Wan Jie Hua Xiang Medical Technology Development Limited.

The more correct introduction should be as below,

Chemical Company of Malaysia (CCM) has a significant corporate presence as a public listed company since 1966, initially as a subsidiary of ICI PLC of the United Kingdom and now as a Malaysian owned corporation.

As an independent Malaysian company, CCM Group offers a wide range of products and services to the chemicals, healthcare and agricultural industries. CCM's integrated approach to business makes them a unique 'one-stop' agency. CCM's business activities include:

- Chemical products and applications
- Fertilizers and technical advisory services
- Pharmaceuticals and healthcare products and services

CCM's business operations are structured into four major subsidiaries: CCM Chemicals, CCM Fertilizers, CCM Pharmaceuticals and CCM Duopharma Biotech that are responsible for these activities.

Today, CCM Group is one of the nation's chemicals, fertilizers and healthcare companies, manufacturing a wide range of products to meet the growing needs of the domestic and overseas markets.

Hopefully i3investor website will correct the error, indeed their website is very good for stock investor to find their information they needed.

Graph Source: Chart Nexus 

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