TL;DR Breakdown Dogecoin price is expected to break above $0.400 towards $0.500 mark The closest support level lies at $0.300 DOGE faces resistance at the $0.400 mark. Dogecoin price has finally broken above the $0.30 mark, and strong bullish momentum has carried the price past the $0.35 mark. Dogecoin price records a 45percent price hike […]
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Open to apply: 26/04/2021 Close to apply: 05/05/2021 Listing date: 19/05/2021
Share Capital Market Cap: RM221.780mil Total Shares: 316.828mil shares (Public apply: 15.842mil, Company Insider/Miti/Private Placement/other: 91.683mil)
Industry (Net Profit %) Building construction for Residential & Non-residential buidling. Tuju Setia: 6.4% (average 4 year 3.81%) WCT: -10.8% Suncon: 4.7% Kerjaya: 11.2% Vizione: -2.2% GDB: 6.8% Inta bina: 2.9% TCS: 6.7% Gagasan Nadi Cergas: 5.4%
Rimbaco: 3.4%
Business M'sia: 100%
Fundamental 1.Market: Main Market 2.Price: RM0.70 (EPS:RM0.0513) 3.P/E: PE13.65 4.ROE(Pro Forma III): 16.5% 5.ROE: 30%(2020), 35%(2019), 31%(2018), 33%(2017) 6.Cash & fixed deposit after IPO: RM0.2458 per shares 7.NA after IPO: RM0.31 8.Total debt to current asset after IPO: 0.66 (Debt: 135.120mil, Non-Current Asset: 31.077mil, Current asset: 202.352mil) 9.Dividend policy: PAT 25% dividend policy.
Past Financial Performance (Revenue, Earning Per shares) 2020: RM255.768 mil (Eps: 0.0636) 2019: RM421.635 mil (Eps: 0.0369) 2018: RM327.794 mil (Eps: 0.0281) 2017: RM292.385 mil (Eps: 0.0230)
Order book 2021: RM21.914 mil 2022: RM174.353 mil 2023: RM388.437 mil 2024: RM365.53 mil
After IPO Sharesholding Wee Eng Kong: 44.37% Dato' Wee Beng Aun: 21.86% Wee Beng Chuan: 0.16% Datin Seri Raihanah: 0.08% Loo Ming Chee: 0.08% Nor Adha bin Yahya: 0.08%
Directors & Key Management Remuneration for FYE2021 (from gross profit 2020) Total director remuneration: RM2.084 mil or 8.96% key management remuneration: RM1.45 mil - 1.7mil or 6.23%-7.30% total (max): RM3.784 mil or 16.27%
Use of fund Capital Expenditure (Machines/equitment/Software): 42.86% Capital Expenditure (Land/storage facilities): 14.28% Working capital: 33.93% Listing expenses: 8.93%
Good thing is: 1. PE13.65 is not too high & have good ROE. 2. Still have some order book to sustain revenue until 2024. 3. Have clear dividend policy. 4. Most IPO fund to expand business activities.
The bad things: 1. Company having high payable in liabilties. Grearing including payable is 2.49 in 2020. 2. Overall 4 year revenue almost no increase. 3. Major sharesholder age 60 & 63 (need more study on succession plan, & abilities of get new project). 4. RM13.3mil (70%) of working capital from IPO fund to pay subcontractor services (payable in liabilities RM104mil). 5. Net profit margin didn't exceed 10%. 6. Director & key management fees exceeded 10% of company gross profit.
Conclusions (Blogger is not wrote any recommendation & suggestion. All is personal opinion and reader should take their own risk in investment decision) Consider a normal IPO. Construction of buidling activities might need to take another few year in Malaysia to see better growth. Please refer below 3 year revenue & risk reward estimation.
*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.
TL;DR Breakdown Chainlink price is expected to face rejection at $40 The closest support level lies at $$38 LINK faces resistance at the $38.5 mark. Chainlink price has broken above the $32.00 mark and strong bullish momentum has carried the price past the $38.00 mark. Chainlink records an over 18 percent price hike across the […]
On Thursday (April 29), David Grider, Director of Digital Asset Strategy at independent research boutique Fundstrat Global Advisors, talked about Bitcoin ($BTC), Ethereum ($ETH), and the overall crypto market in the firm’s “Weekly Crypto Briefing”. In this article, we focus mostly on his comments about Ethereum. In the firm’s latest crypto strategy note, Grider said that […]
TL;DR Breakdown Litecoin price is expected to rise to $300 The closest support level lies at $260 LTC faces resistance at the $275 mark. Litecoin price has broken above the $230 mark, and strong bullish momentum has carried the price to challenge the $273 mark. LTC records an over 21 percent price hike across the […]
Derivatives shift the risk from the buyer of the derivative product to the seller and, as such, are very effective risk management tools. These assets improve the liquidity of the underlying instrument and perform an essential economic function, e.g., price discovery. Derivatives are better ways for raising money and contribute substantially to growing markets. Smart […]
A $695,000 donation from Ripple co-founder Chris Larsen towards a community-led surveillance camera project in San Francisco is receiving backlash from certain sections of society, local outlet San Francisco Examiner reported today.
After some consolidation at $55,000 over the last few days, the world’s largest cryptocurrency Bitcoin (BTC) is once again showing northward momentum. Bitcoin (BTC) has jumped back 10% moving above $58,000 levels. At press time, BTC is trading at a price of $58,099 with a market cap of $1.086 trillion. As per data from CryptoQuant,
CAKE has had awesome week, rising nearly 100%. The bulls heavily grabbed low prices of $23 as cake rebounded like a cannon. Since the dip, the price has been steadily respecting an ascending channel with a high of near $44 at the time of writing. For CAKE to continue its uptrend to a new ATH,