Jcbnext Bhd. · MYX:JCBNEXT
Jcbnext Bhd — Shareholder Meeting (June 2019)
14 slides from Jcbnext Bhd's shareholder meeting presentation, Jun 27, 2019
Slide 1: JcbNext Berhad 15th Annual General Meeting
JcbNext Berhad 15th Annual General Meeting 27th June 2019
Slide 2: Performance Update
JcbNext Berhad Performance Update
Slide 3: Net Profit Performance (RM 000)
Net Profit Performance (RM 000) 2018 2017 Change Revenue 8,530 9,895 -13.8% Other Operating Income 6 15 Foreign Exchange Gain / (Loss) 403 (3,737) Less: Operating Expenses Staff Costs (2,680) (4,205) -36.3% Contract & Outsourcing Costs (720) (669) 7.7% Professional Fees (1,053) (918) 14.7% Utilities
Slide 4: Statement of Financial Position Summary
Statement of Financial Position Summary 2018 2017 Assets Cash & Other Short-term Investments 135,219 134,465 Investment in Associates (104/Innity) 119,970 121,824 Other Long-term Equity Investments Lion Rock 38,380 44,441 Nova Pharma 3,239 2,000 Equity Portfolio Fund 10,093 11,037 Asiatravel - 812 U
Slide 5: Assets by Currency (RM 000)
TWD 107,789 33% HKD 41,383 SGD 32,755 10% USD 24,478 7% Others 2,908 1% MYR 120,809 37%
Slide 6: Market value of JcbNext investment since Dec 2014
How much would your investment in JcbNext be worth now (market value), if RM 1 is invested on Dec 31, 2014? Compare that to the market value of investing in FTSE Bursa Malaysia KLCI ETF and putting the money into 12-month Ringgit FD, assuming all dividends/interest reinvested. 6
Slide 7: Value of share of underlying assets since Dec 2014
How much would your share of the underlying assets of JcbNext be worth now (market value), if RM 1 is invested on Dec 31, 2014? Compare that to the market value of the underlying assets of KLCI ETF and 12-month FD, assuming all dividends/ interest reinvested. 7
Slide 8: Share price diverging from underlying asset value
Combining the graphs in the previous two slides illustrates how the assets of JcbNext have grown in value, but JcbNext’s share price has diverge from that underlying value of its assets significantly 8
Slide 9: Quoted Equity Portfolio Performance
Quoted Equity Portfolio Performance Source of KLCI returns: FTSE Bursa Malaysia KLCI ETF Annual Reports Note: JcbNext portfolio (by order of market value): 1. 104 Corp – Taiwan-listed 2. Lion Rock – Hong Kong-listed 3. Innity – Malaysia-listed 4. Equity Portfolio Fund – Regional high-yield equity fu
Slide 10: Adjusted Net Cash Flow Performance
“Adjusted Net Cash Flow’ Performance 2018 2017 1. Cash Inflow 1.1 Dividends received from Investee Companies 12,966,440 14,973,801 104 9,764,252 11,665,784 Lion Rock 2,605,548 2,690,638 Equity Porfolio Fund 596,639 617,380 1.2 Realised gains on disposal of investments - 138,322 1.3 Revenue from Oper
Slide 11: Dividend Track Record (RM 000)
Dividend Track Record (RM 000) DIVIDEND % of NET FREE % of FREE FY DPS (SEN) PAYOUT NET PROFIT PROFIT CASHFLOW CASHFLOW 2005 2.75 * 5,553 16,371 33.9% 2006 1.50 * 3,046 21,709 14.0% 2007 3.50 10,824 28,886 37.5% 2008 3.50 10,893 32,809 33.2% 2009 3.00 9,417 27,687 34.0% 2010 6.50 20,597 40,981 50.3%
Slide 12: Share Buyback
Share Buyback • At the current time, management believes JcbNext shares are undervalued at a substantial discount to book value. • As such, share buyback is a good use of excess cash while we wait for investment opportunities to arise. 12
Slide 13: Board Changes
Board Changes • Datuk Ali will be re-designated as a Non-Independent, Non- Executive Chairman • Mark Chang will be resigning from the Board of Directors to maintain at least half of the Board comprising independent directors. Mark will still remain as the Chief Executive Officer. • The Board will be
Slide 14: Thank You
Thank You