2. DISCLAIMER
I am NOT an investment advisor nor a financial advisor, and no information provided
here is to be interpreted as a suggestion to buy or sell securities.
Stock analysis in this presentation may not neutral because I have incorporated my
risk appetite and principles in the analysis.
All figures in MYR and in '000s, except per share data
2
5. SCOPE
• Figures and ratios are based on the figures reported in Annual Report or the latest
Q4 Quarterly Report (QR)
• Comparisons are made merely based on financial figures
• Growth drivers and risks/challenges are not covered here
• Valuation is not covered in this analysis.
13. PEER COMPARISON (CONT.)
• Obviously, AMWAY performance is the best among three companies
• HAIO performance is better than ZHULIAN in recent years
• Cash Conversion Cycle of ZHULIAN is quite alerting because of extremely high level
of inventory.