2021 is coming to the end. I have tabulated out the dividen received for the full year of 2021. A total of RM16,275.60 has been received.
The top two contributors are comimg from plantation and financial sectors. The highest dividen contributor is INNOPRISE.
Hope to increase in 2022.
Company : Taliwork Corporation Berhad
Business
: Utility sector covering water treatment, distribution, highway concessionaire (Grand Saga), waste
management (Southern Waste)
and engineering + construction. Most
of the business are very stable except engineering and construction. The gem is in water
treatment which is recession and COVID proof business.
Financial Information
There is no growth of CAGR-revenue. However, there is good CAGR of PAT. Profit margin is reasonable at 26%. Company has bank borrowings but manageable.
|
Borrowing |
MYR (Million) |
Cash or Cash Equivalent |
MYR
(Million) |
|
Long term bank borrowing |
328 |
Bank Deposit |
48 |
|
Short Term bank borrowing |
30 |
Investment (JV + Associate) |
234 |
|
|
|
Short Term Cash |
264 |
|
Total |
358 |
|
546 |
10 years revenue record
Revenue
has been stagnant or declining as there no new business or project.
Revenue
breakdown
Water
treatment, supply and distribution is the biggest revenue contributor (71%). It is a very stable
business. The demand of treated water will increase over time. Second biggest revenue contributor is highway
concessionaire (approx. 23%). This sector has been hit by MCO lockdown but it
will recover very soon.
Lates
result at glance
YoY drop but QoQ increase. Profit margin improved
significantly.
9
months revenue dropped because
of expiration of Langkawi contract. See below.
Prospect
Growth
opportunity
Dividen
Chart
An
attractive of 6 cents per annum is expected and pay every quarter. 75% payout
ratio is really good.
Can the they sustain the dividen
payout? Assuming they pay 1.65 sen every quarter then total dividen is 6.6 sen
equiavalent to RM132 million. The cash flow of operation is sufficient to pay
the dividen.
The price is trading at the range of RM0.80 to RM0.90. It has been trending up due to recent award of Sg Rasau project. As you can see from the chart the price very stable and not much of fluctuation. Those seeking stable dividen with moderate long term capital gain can consider buying at low price.
At time of writing, I don’t have any Taliwork shares. Follow my updates on other shares at FB 股海捞真。
