现金部位强稳 速远(ZHULIAN)稳定派息

（吉隆坡18日讯）速远集团（ZHULIAN，5131，主板消费股）2013財政年次季净利按年增升30.1%，至3793万令吉，並宣佈派发每股3仙股息。分析员认为，在强稳现金部位和偏低的资本开销下，速远集团可以持续稳定派发股息。

速远集团2013年次季（截至5月31日止）净利按年上升30%，至3790万令吉，上半年净利也增至6770万令吉，符合黄氏星展唯高达研究分析员的预期。该集团这一季的营业额因国內销售降减而下跌4.3%，至1亿零620万令吉。

同时，分析员指出，速远集团次季的扣除利息和税项之前收入（EBIT）赚幅，也从去年同期的20%跌至18.1%，写下2010年次季以来的最低纪录，进而使EBIT按年拉低13.4%，至1920万令吉。

该分析员也说，速远集团董事局宣佈派发每股3仙中期股息，上半年股息累积至每股6仙，同样符合他的预期。「根据我们的预测，假如董事局把公司净利的60%用来派发股息，2013財政年料派每股16.7仙。过去3个財政年，该集团的平均派息率是60%。」

此外，分析员认为，速远集团的净现金部位保持在1亿零640万令吉良好水平。这笔现金相等於每股23仙，低於首季的每股31仙，主要是该集团已动用部份现金来派息。

资本开销偏低

他补充，速远集团目前的现金部位和410万令吉的资本开销，可以令该集团持续稳定地派发股息。

速远集团的股价在过去一年上升30%，相信已反映所有的利好因素。因此，分析员维持速远集团的「守住」评级和2.80令吉目標价。

该集团今天在上升榜位居第26，闭市收报3.23令吉，全天上升13仙或4.19%，成交量达49万4600股。

[东方日报]

Zhulian declared 3rd Interim Single Tier Dividend 3 Sen

Zhulian declared 3rd Interim Single Tier Dividend 3 Sen

Zhulian Nine-month net profit 67.310 million (increased 7.22%)

Zhulian Nine-month net profit 67.310 million (increased 7.22%)

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ZHULIAN 速远机构 (5131)

ZHULIAN CORPORATION BERHAD
Plot 41 & 42, Bayan Lepas Industrial Estate,
Phase IV, 11900 Bayan Lepas,
Penang

Tel: 604-616 2020
Fax: 604-641 3020 / 641 4020
Email: info@zhulian.com.my

Listing Date: 27.04.2007
Par Value: 0.50
IPO Price: 1.230

Market: MAIN
Sector: CONSUMER
Major Industry: TEXTILES, APPAREL & LUXURY GOODS

ZHULIAN CORPORATION BERHAD is a Malaysia-based investment holding company. The subsidiaries of the Company are Zhulian Jewellery Manufacturing Sdn. Bhd. engaged in manufacturing of costume and fine jewelry; Zhulian Marketing (M) Sdn. Bhd. engaged in direct marketing of costume jewellery and consumer products; Zhulian Industries Sdn. Bhd. engaged in manufacturing of consumer products; Beyond Products Technology Sdn. Bhd. engaged in the manufacturing of water treatment system and its related products; Zhulian Manufacturing Sdn. Bhd. engaged in the manufacturing of bedroom apparels and therapeutic products; Master Square Sdn. Bhd. engaged in trading of consumer products; Zhulian Printing Industries Sdn. Bhd. engaged in the printing of brochures, leaflets, catalogues, name cards and other related documents; Zhulian Management Sdn. Bhd. engaged in providing management services and investment holding, and Zhulian Development Sdn. Bhd. engaged in property development.