Haio

Haio another diving stock
March 2010 - 4.50
Sep 2011 - 1.50
67% value evaporated within 18 months. the interesting question is why?

Financial Summary

Date	Stock	Quarter	Year End	Current Year Quarter				Current Year To Date
				Revenue (RM'000)	P/L (RM'000)	EPS (sen)	Dividend (sen)	Revenue (RM'000)	P/L (RM'000)
21 Dec 2011	HAIO	2nd	30 Apr 2012	56,199	7,868	3.94	2.00	107,172	15,601
28 Sep 2011	HAIO	1st	30 Apr 2012	50,973	7,734	3.87	-	50,973	7,734
23 Jun 2011	HAIO	4th	30 Apr 2011	58,156	8,547	4.28	5.50	223,150	28,829
23 Mar 2011	HAIO	3rd	30 Apr 2011	57,621	6,347	3.18	-	164,994	20,283
17 Dec 2010	HAIO	2nd	30 Apr 2011	52,622	6,132	3.07	2.00	107,374	13,935
29 Sep 2010	HAIO	1st	30 Apr 2011	54,751	7,804	3.91	-	54,751	7,804
25 Jun 2010	HAIO	4th	30 Apr 2010	98,838	14,257	7.14	14.50	511,064	70,916
19 Mar 2010	HAIO	3rd	30 Apr 2010	131,281	18,009	21.64	4.00	412,227	56,659

FYE 4/2011 revenue down 50% (511 mil to 223mil) PAT down 59% (71 mil to 29 mil) - value destruction.
Cumulative 2 lastest quarters, revenue - 107mil PAT 15mil.
Annualised FYE 4/2012, revenue - 214mil PAT 30 mil.
FYE2012 results will be slightly better than FYE2011.

Changes In Shareholder

Date	Stock	Name	Type	Qty
11 Aug 2011	HAIO	TAN SIOW ENG	Acquired	21,900
11 Aug 2011	HAIO	PHAN VAN DENH	Acquired	21,900
11 Aug 2011	HAIO	TAN KENG KANG	Acquired	21,900
11 Aug 2011	HAIO	TAN KENG SONG	Acquired	21,900
11 Aug 2011	HAIO	TAN KAI HEE	Acquired	21,900
4 Jul 2011	HAIO	TAN SIOW ENG	Acquired	33,500
4 Jul 2011	HAIO	TAN KENG KANG	Acquired	33,500
4 Jul 2011	HAIO	PHAN VAN DENH	Acquired	33,500
4 Jul 2011	HAIO	TAN KAI HEE	Acquired	33,500
4 Jul 2011	HAIO	TAN KENG SONG	Acquired	33,500
31 Jan 2011	HAIO	AKINTAN SDN BHD	Acquired	40,100
31 Jan 2011	HAIO	TAN SIOW ENG	Acquired	40,100
31 Jan 2011	HAIO	PHAN VAN DENH	Acquired	40,100
31 Jan 2011	HAIO	TAN KENG KANG	Acquired	40,100
31 Jan 2011	HAIO	TAN KAI HEE	Acquired	40,100
31 Jan 2011	HAIO	TAN KENG SONG	Acquired	40,100
26 Jan 2011	HAIO	AKINTAN SDN BHD	Acquired	40,400
26 Jan 2011	HAIO	TAN KENG KANG	Acquired	40,400
26 Jan 2011	HAIO	TAN SIOW ENG	Acquired	40,400
26 Jan 2011	HAIO	PHAN VAN DENH	Acquired	40,400
26 Jan 2011	HAIO	TAN KAI HEE	Acquired	40,400
26 Jan 2011	HAIO	TAN KENG SONG	Acquired	40,400
30 Dec 2010	HAIO	AKINTAN SDN BHD	Acquired	41,000
30 Dec 2010	HAIO	PHAN VAN DENH	Acquired	41,000
30 Dec 2010	HAIO	TAN SIOW ENG	Acquired	41,000
30 Dec 2010	HAIO	TAN KENG KANG	Acquired	41,000
30 Dec 2010	HAIO	TAN KENG SONG	Acquired	41,000
30 Dec 2010	HAIO	TAN KAI HEE	Acquired	41,000
24 Dec 2010	HAIO	AKINTAN SDN BHD	Acquired	50,000
24 Dec 2010	HAIO	TAN KENG KANG	Acquired	50,000
24 Dec 2010	HAIO	PHAN VAN DENH	Acquired	50,000
24 Dec 2010	HAIO	TAN SIOW ENG	Acquired	50,000
24 Dec 2010	HAIO	TAN KAI HEE	Acquired	50,000
24 Dec 2010	HAIO	TAN KENG SONG	Acquired	50,000
5 Oct 2010	HAIO	Phan Van Denh	Acquired	118,000
5 Oct 2010	HAIO	Tan Keng Kang	Acquired	118,000
5 Oct 2010	HAIO	Tan Siow Eng	Acquired	118,000
5 Oct 2010	HAIO	Tan Keng Song	Acquired	118,000
5 Oct 2010	HAIO	Tan Kai Hee	Acquired	118,000
5 Oct 2010	HAIO	Akintan Sdn Bhd	Acquired	118,000
25 Aug 2010	HAIO	Quek Ah Ba	Disposed	40,704
9 Aug 2010	HAIO	Datin Sunita Mei-Lin Rajakumar	Disposed	33,500
28 Jul 2010	HAIO	Datin Sunita Mei-Lin Rajakumar	Disposed	33,500
19 Jul 2010	HAIO	Datin Sunita Mei-Lin Rajakumar	Transferred	100,636

Insider move
From the list above, insiders including Tan Kai Hee has been net buyer for the last one year.

Shares Buy Back

Date	Stock	Shares Acquired (Cancelled)
6 Jan 2012	HAIO	2,000
5 Jan 2012	HAIO	3,000
4 Jan 2012	HAIO	2,400
3 Jan 2012	HAIO	3,400
30 Dec 2011	HAIO	2,800
29 Dec 2011	HAIO	2,700
28 Dec 2011	HAIO	3,600
22 Dec 2011	HAIO	1,000
21 Dec 2011	HAIO	2,600
20 Dec 2011	HAIO	4,800
19 Dec 2011	HAIO	7,300
16 Dec 2011	HAIO	2,400
15 Dec 2011	HAIO	3,600
14 Dec 2011	HAIO	4,400
13 Dec 2011	HAIO	2,400
9 Dec 2011	HAIO	3,400
8 Dec 2011	HAIO	2,100
7 Dec 2011	HAIO	4,600
6 Dec 2011	HAIO	4,000
5 Dec 2011	HAIO	4,000
2 Dec 2011	HAIO	10,200
2 Dec 2011	HAIO	7,000
1 Dec 2011	HAIO	7,000
30 Nov 2011	HAIO	1,300
29 Nov 2011	HAIO	4,000
25 Nov 2011	HAIO	8,500
24 Nov 2011	HAIO	2,500
23 Nov 2011	HAIO	4,900
22 Nov 2011	HAIO	11,100
21 Nov 2011	HAIO	5,200
18 Nov 2011	HAIO	2,600
17 Nov 2011	HAIO	2,200
25 Oct 2011	HAIO	2,500
24 Oct 2011	HAIO	2,200
7 Oct 2011	HAIO	1,400
6 Oct 2011	HAIO	2,600
5 Oct 2011	HAIO	2,100
4 Oct 2011	HAIO	3,400
3 Oct 2011	HAIO	10,000
30 Sep 2011	HAIO	3,000
29 Sep 2011	HAIO	5,000
22 Sep 2011	HAIO	12,400
21 Sep 2011	HAIO	4,800
20 Sep 2011	HAIO	8,600
19 Sep 2011	HAIO	3,200
15 Sep 2011	HAIO	3,400
14 Sep 2011	HAIO	21,900
13 Sep 2011	HAIO	5,000
12 Sep 2011	HAIO	8,700
9 Sep 2011	HAIO	2,700

The Company has implemented share buy back scheme although effect may be negligible.

Fundamental Observation:

1. Profitability is improving

2. Consumerism sector remain a core pillar in country wealth creation – a main contributor to GDP in recent quarters.

3. Insider moving back to the stock

4. Share buy back.

TA Observation:

1. The stock bottom in Oct 2011

2. Making a 20% gain by end of Oct 2011

3. Flattening for next 2 – 3 months til Dec 2011.

4. Price and volume move again in Jan 2012 – the engine is ignited and the long night happening party began.

5. NOW: The stock is overbought now and facing a resistance at 2.40 level – profit taking began

6. A Dark Cloud Cover emerged on 19/1/2012 – signify the beginning of distribution.

Action:

Wait for retracement to MA50/100 to accumulate.