Xenoblade Chronicles 3's director Tetsuya Takahashi has said its Nintendo Direct reveal trailer contains secrets that eagle-eyed viewers may pick up on.
ACE 031 is an activin receptor type IIB (ActRIIB) soluble protein and IgG1-Fc biological therapy. By blocking myostatin, a protein that is excreted in...
The Motion Picture Association and anti-piracy coalition Alliance for Creativity and Entertainment will embed their own personnel at the US Government's National Intellectual Property Rights Coordination Center. Under the umbrella of the Department of Homeland Security and Immigration and Customs Enforcement, they hope to tackle movie and TV show piracy more effectively.
From: TF, for the latest news on copyright battles, piracy and more.
Copyright@http://lchipo.blogspot.com/ Follow us on facebook: https://www.facebook.com/LCH-Trading-Signal-103388431222067/
***Important***Blogger is not wrote any recommendation & suggestion. All is personal opinion and reader should take their own risk in investment decision
Open to apply: 28/01/2022 Close to apply: 16/02/2022 Balloting: 18/02/2022 Listing date: 28/02/2022
Share Capital Market Cap: RM146.890 mil Total Shares: 489.634 mil shares
Business (2021) Building construction services - Residential: 43.51% - Non-Residential: 56.37% ICT soloutions and services. - others: 0.12%
Fundamental 1.Market: Ace Market 2.Price: RM0.30 3.P/E: 13.33 (EPS:0.0225) 4.ROE(Pro Forma III): 11.97% (forecast using 7mth FPE2021) 5.ROE: 30.07%(FYE2020), 24.22%(FYE2019), 24.19%(FYE2018) 6.NA after IPO: RM0.15 7.Total debt to current asset after IPO: 0.64 (Debt: 102.555mil, Non-Current Asset: 12.654mil, Current asset: 161.259mil) 8.Dividend policy: no formal dividend policy.
Past Financial Performance (Revenue, Earning Per shares, PAT%) 2021 (7mths): RM104.498 mil (Eps: 0.0102),PAT:4.77% 2020: RM273.388 mil (Eps: 0.0225),PAT:4.04% 2019: RM242.888 mil (Eps: 0.0142),PAT:2.86% 2018: RM145.419 mil (Eps: 0.0083),PAT:3.62%
After IPO Sharesholding Tan Sri Dato' Sri Mohamad Fuzi bin Harun: 0.06% Ng Wai Hoe: 18.5% Lim Mei Hwee: 12.75% Tan Sok Moi: 9.5% Datuk Lim Tong Lee: 0.06% Dato' Sri Shahril bin Mokhtar: 0.06% Andrea Huong Jia Mei: 0.06%
Directors & Key Management Remuneration for FYE2022 (from gross profit 2020) Total director remuneration: RM2.211mil key management remuneration: RM0.50 mil - 0.65mil total (max): RM2.861 mil or 26.3%
Use of fund Purchase of land & construction of storage facility: 16.61% Purchase of machinery & equipment: 35.74% Purchase of BIM system software: 8.35% Upgrade software & system: 2.21% Office expansion: 0.82% Working capital: 25.32% Listing expenses: 10.95%
Highlight -no
Conclusions (Blogger is not wrote any recommendation & suggestion. All is personal opinion and reader should take their own risk in investment decision) Overall is a normal IPO. The industry of the business it self is not attractive, because the low net profit margin environment. *Valuation is only personal opinion & view. Perception & forecast will change if any new quarter result release. Reader take their own risk & should do own homework to follow up every quarter result to adjust forecast of fundamental value of the company.
Business Manufacturer of die-cutting moulds & trading of related consumables, tools and accessories. Malaysia: 85.6% (2020 revenue) Other countries: 14.4% (2020 revenue) Fundamental 1.Market: Ace Market 2.Price: RM0.48 3.P/E: 15.5 (EPS: 0.031) 4.ROE(Pro Forma III): 18.03% (forecast using 7mth FPE) 5.ROE: 16.10%(2020), 27.72%(2019), 28.86%(2018) 6.Cash & fixed deposit after IPO: 0.069 7.NA after IPO: RM0.31 8.Total debt to current asset after IPO: 0.44 (Debt: 11.245mil, Non-Current Asset: 46.1mil, Current asset: 25.3mil) 9.Dividend policy: doest not have formal dividend policy.
Past Financial Performance (Revenue, Earning Per shares, PAT%) 2021 (7mths): RM17.705 mil (Eps: 0.0207),PAT%: 22.7% 2020: RM26.355 mil (Eps: 0.0310),PAT%: 22.9% 2019: RM28.363 mil (Eps: 0.0278),PAT%: 19.1% 2018: RM28.732 mil (Eps: 0.0350),PAT%: 25.4%
After IPO Sharesholding Yap Tian Tion: 74% (indirect) Yap Kai Ning: 74% (indirect) Directors & Key Management Remuneration for FYE2021 (from gross profit 2020) Total director remuneration: RM0.822 mil key management remuneration: RM0.30 mil- 0.7mil total (max): RM1.522 mil or 11.45%
Use of fund Acquisition of factory for Hotstar: 36.2% Purchase of new machineries: 12.4% Upgrade and development of computer softwares and server: 5.4% Marketing activities: 6.2% General working capital: 11% Repayment of bank borrowing: 16.5% Listing expenses: 12.3%
Highlight 1. Continue growth of Electrical & electronic manufacturing in ASEAN. 2. Growth of paper and paper product industry. 3. Both factorys is to consolidate 3 old rented factory into new factory (1 by IPO fund, & 1 by financed through bank borrowings and/or internally generated funds.
Good thing is: 1. ROE is above 15%. 2. Consolidate factory will increase efficientcy. 3. Paper moulds and E&E industry both still is sunrise industry.
The bad things: 1. High competitor environment (M'sia have around 40 die-cutting moulds manufacturing. 2. Director & key management remuneration over 10% company gross profit. 3. Use 16.5% IPO fund to repay bank borrowing. 4. Factory consolidate did not represent add addional factory line to expand business. 5. 2018-2020 revenue did not growth.
Conclusions (Blogger is not wrote any recommendation & suggestion. All is personal opinion and reader should take their own risk in investment decision) Average IPO. PE15.5 is just around fair PE. The attractive part in their business is the involved in produce steel related product for E&E industry which is the industry in growing.
*Valuation is only personal opinion & view. Perception & forecast will change if any new quarter result release. Reader take their own risk & should do own homework to follow up every quarter result to adjust forecast of fundamental value of the company.
Business Construction is primarily involved in the building construction of residential and non-residential buildings. Residential Buildings: 87.23% Non-residential Buildings: 11.41% Others: 1.36%
Fundamental 1.Market: Ace Market 2.Price: RM0.68 3.P/E: 11.6 (EPS: 0.0586) 4.ROE(Pro Forma III): 14.88% 5.ROE: 20.09%(2020), 20.18%(2019), 20.53%(2018), 33.04%(2017) 6.Cash & fixed deposit after IPO: 0.257 7.NA after IPO: RM0.39 8.Total debt to current asset after IPO: 0.56 (Debt: 84.821mil, Non-Current Asset: 6.052mil, Current asset: 148.959mil) 9.Dividend policy: 30% profit after tax dividend policy.
Past Financial Performance (Revenue, Earning Per shares, PAT%) 2020: RM166.132 mil (Eps: 0.0586),PAT%: 5.86% 2019: RM157.918 mil (Eps: 0.0497),PAT%: 4.97% 2018: RM173.787 mil (Eps: 0.0474),PAT%: 4.74% 2017: RM121.832 mil (Eps: 0.0704),PAT%: 7.04%
Order Book 2023: RM5.67mil 2022: RM124.23mil 2021: RM330.14mil
After IPO Sharesholding See Tin Hai: 73.15% (indirect) Directors & Key Management Remuneration for FYE2021 (from gross profit 2020) Total director remuneration: RM2.144 mil key management remuneration: RM0.4 mil- 0.5mil total (max): RM2.644 mil or 9.62%
Use of fund Purchase of construction machinery, equipment, software, office equipment: 20.59% Working capital: 29.41% Repayment of bank borrowing: 34.31% Listing expenses: 15.69%
Highlight 1. 2021 have RM330.14mil order book to be recognised. ***doesn't other special item to be highlight.
Good thing is: 1. PE11.6 is not consider too high. 2. ROE still above 10% 3. Revenue increase from 2017 to 2020
The bad things: 1. PAT% is below 10% 2. Use 34.31% IPO fund to pay debt. 3. Properties industry not going to high expand in 1-2 years.
Conclusions (Blogger is not wrote any recommendation & suggestion. All is personal opinion and reader should take their own risk in investment decision) Is a average IPO. Properties industry facing negative growth rate from 2016-2020, estimated should be continue to negative this year on lockdown continue. For 3years business growth prospect & risk score please refer to below chart.
*Valuation is only personal opinion & view. Perception & forecast will change if any new quarter result release. Reader take their own risk & should do own homework to follow up every quarter result to adjust forecast of fundamental value of the company.
What are Rivals of Aethers? Why everyone has been talking about it? Is it better and funnier than Super Smash Bros.? Keep reading. We’ll answer these questions down below. RoA Review: What Is Rivals of Aether? Is It Worth It In 2021? Rivals of Aether is a 16-bit platform fighting game based on […]