ACLEDA Securities Plc.

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Company Summary
Inception Year 2007
Industry Classification Apparel Clothing
Type of Listed Shares Common Shares
No. of Listed Shares 40,000,000
Code KH1000020003
Symbol GTI
Listing Date 16-Jun-2014
No. of Staffs 5,773 employees
Website www.grandtwins.com.kh

Grand Twins International (Cambodia) Plc. is a manufacturer of garments. It was incorporated in 2007. In 2008, it acquired QMI Industrial Co., Ltd, one of the first major garment manufacturers setting up operation in Cambodia since the 1990s.

Grand Twins are manufacturing subcontractor and manufacturer of apparel for export. Today, its product portfolio includes world renowned sport apparel brand names including Adidas, Reebok, Taylor Made, Salomon, New Balance (NB), Kohl's, Nautica, North Face, Russell Athletic, etc.

Grand Twins' export destinations include countries in Europe (49% of revenue in 2016), the United States (23% of revenue in 2016), Asia and other countries (28% of revenue in 2016).

Board of Directors Title
Mr. Yang Shaw-Shin Chairman
Mr. Liao Chung-Te Executive director and CEO
Ms. Wang Yi Ting Non-executive director
Mr. Chen Tsung-Chi Non-executive director
Oknha Ly Kunthai Independent director

Substantial Shareholders

Substantial Shareholder % Shares
GRAND TWINS INTERNATIONAL LTD 41.00%
HOPE RIDGE LIMITED 9.60%

Note: Substantial shareholders: shareholders holding ≥5% of listed shares.

Dividend Policy

The remaining net profit after following distribution will be paid fully or partially to ordinary shareholders:

  1. 10% of net profit after remaining from distribution to the loss incurred previous year shall be reserved for future loss.
  2. After the compensation for loss and reserves the remaining profit will be distributed as below:
    • No more than 3% of net profit after tax will be paid as compensation for BOD.
    • Not less than 5% of net profit after tax will be paid to employee as a bonus.

IPO

IPO Information
IPO Price (KHR) 9,640
Par Value (KHR) 1,000
No. of listed shares 40,000,000
No. of issued shares 8,000,000
1st trading date 16-Jun-2014
1st closing price (KHR) 9,220
Underwriter Phnom Penh Securities Plc
Investment Dash Board
Financial Statements (Mil. KHR)
Balance Sheet 2015 2016 2017
Assets 304,850.95 333,328.39 333,140.48
- PPE 46,973.35 59,956.14 57,935.37
- Current Asset 257,837.71 273,332.53 275,128.87
- Inventory 36,405.75 35,329.17 56,433.21
- A/R 216,326.16 232,790.75 217,771.23
- Cash 5,105.80 5,212.62 924.43
Equity 256,034.75 274,195.58 273,363.96
- Share Cap. 40,500.00 40,370.00 40,450.00
- Retained Earnings 145,550.75 164,066.22 163,016.36
Liabilities 48,816.20 59,132.81 59,776.52
- Current Liability 48,815.24 49,865.21 38,700.99
- A/P 15,116.07 12,674.44 15,376.21
Income Statement
Revenue 229,939.07 331,407.31 323,987.41
Gross Profit 26,229.12 41,410.45 27,156.20
EBIT 3,603.41 16,114.53 5,566.85
Net Income 4,321.00 21,162.65 2,670.01
EPS (KHR) 108.02 529.07 66.75
Cash Flow Statement
Operating Cash Flow (18,592.11) 16,747.92 33,651.83
Investing Cash Flow (15,939.22) (26,313.51) 27,060.21
Financing Cash Flow 16,200.00 9,688.80 2,293.12
Net Cash Flow (18,331.32) 123.21 (4,298.51)
Valuation
P/E 14.37 29.85 8.55
P/BV 0.63 0.63 0.69
Dividend Yield 1.34% - -
Dividend Payout Ratio 49.99% - -
Cash Dividend per share 54 - -
Other Key Financial Indicators
ROE 1.67% 7.98% 0.98%
ROA 1.45% 6.63% 0.80%
A/E 1.19 1.22 1.22
Current Ratio 5.28 5.48 7.11
Trading Statistic
Trading Statistic 2015 2016 2017
Market Cap. (Mil KHR) 160,800 172,800 188,000
Last Price 4,020 4,320 4,700
Year High 7,180 4,320 5,400
Year Low 4,000 2,130 3,610
Value/day (Mil KHR) 10.09 14.98 5.75
Turnover Ratio 2.69% 5.52% 1.76%
Annual Report
Latest News
Second quarterly report of GTI in 2019
Sep 19, 2019
Notification on Dividend Payment to Shareholders of Grand Twins International (Cambodia) Plc
Jun 28, 2017
Fourth quarterly report of GTI in 2016
Feb 17, 2017
Clarification on net profit decreasing in fourth quarter 2015 of GTI
Mar 22, 2016
Fourth quarterly report of GTI in 2015
Mar 22, 2016
Third quarterly report of GTI in 2015
Jan 18, 2016
Second quarterly report of GTI in 2015
Sep 04, 2015
First quarterly report of GTI in 2015
Jul 06, 2015
Announcement on Dividend Distribution of Grand Twins International (Cambodia) Plc.
Jun 03, 2015
Audited Financial Statements and Independent Auditors' Report 31 December 2014
Apr 09, 2015
Condensed interim financial information for the three-month and twelve-month period ended 31 December 2014
Feb 26, 2015
Third quarterly report of GTI in 2014
Nov 24, 2014
Announcement on November 14, 2014 of GTI
Nov 17, 2014
Announcement on November 11, 2014 of GTI
Nov 14, 2014
The Court Injunction of the Phnom Penh Capital Court of First Instance
Nov 04, 2014
Announcement on resumption of work of GTI
Oct 30, 2014
The update on the suspension of the Production of GTI
Oct 28, 2014
The order of The Arbitration Council related to the protest of GTI
Oct 28, 2014
Suspension of the Production of GTI
Oct 24, 2014
Second quarterly report of GTI in 2014
Sep 19, 2014
Initial Listing Date of Grand Twins International (Cambodia) Plc
Jun 11, 2014
The Disclosure Document of Public Issuance of Equity Securities for Subscription
Apr 30, 2014
Audited Financial Statements and Independent Auditors' Report 31 December 2013
Apr 30, 2014
The Disclosure Document of Public Issuance of Equity Securities
Mar 13, 2014
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