Sealink International Bhd

Sealink International Bhd seems quite new in listing. Most attention is needed on the inventories, whereby >49% covers currents assets, >50% in inventories is work-in-progress.

No doubt, things looks great at GP Margin and Net Profit before tax on 2009, however how big is big for years to come which tells us in 2010 and 2011,
a) Gross profit Margin (GP Margin) Drop
b) Borrowings increase
c) Fast Cash Flow has turn into a negative zone
d) Stock Turnover still at a high rate
e) Increase of Fixed Assets
f) Reduce of Net Profit before tax

 Description  Latest
 Current Assets more than Fixed Assets   No
 Current Ratio more than 1.50 Yes
 Net Profit before Tax Yes
 Fast Cash Flow Positive No
 Inventories over Current Assets 49%
 Loan and Borrowings over Current Liabilities   67%
 Retained Earnings  Yes
 Biggest Turnover (Stocks) 16.17 months

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