IPO: Bison Consolidated Berhad
Listing: Main market
Price: RM1.10
Stock name: BISON
Open: 04 Mar 2016
Close: 14 Mar 2016
Ballot: 16 Mar 2016
Allotment: 25 Mar 2016
List: 29 Mar 2016
Showing posts with label Investment. Show all posts
Showing posts with label Investment. Show all posts
Saturday, 5 March 2016
Bison Consolidated Berhad IPO
Thursday, 31 December 2015
Ranhill Holdings Berhad IPO
IPO: Ranhill Holdings Berhad
NAME: RANHILL
Price: RM 1.70
Market: Main
Last date: 29 Jan 2016
Ballot date: 03 Feb 2016
Allot date: 17 Feb 2016
List date: 18 Feb 2016
Ranhill intends to pay a minimum 70% of profit after tax as a dividend.
NAME: RANHILL
Price: RM 1.70
Market: Main
Last date: 29 Jan 2016
Ballot date: 03 Feb 2016
Allot date: 17 Feb 2016
List date: 18 Feb 2016
Ranhill intends to pay a minimum 70% of profit after tax as a dividend.
Saturday, 13 June 2015
Logistics based Xin Hwa to raise RM26.45m from IPO
KUALA LUMPUR: Integrated logistics service provider Xin Hwa Holdings Bhd plans to raise RM26.45mil from its proposed listing on the Main Market of Bursa Malaysia Securities.
The Johor-based company said on Thursday the initial public offer (IPO) comprised of 54 million shares at an issue price of 70 sen per share -- 37.78 million new shares and 16.22 million existing shares.
Under the listing exercise, it would be selling nine million shares to the public, three million units for eligible directors, employees and other persons who have contributed to the success of the company.
Xin Hwa said 18.22 million shares would be offered to approved Bumiputera investors while the remaining 23.78 million shares would be placed out to selected investors.
Based on the issue price of 70 sen per share and the enlarged issued and paid-up of 180 million shares, it would have a market capitalisation of RM126mil.
It said of the RM26.45mil to be raised from the IPO, it plans to use RM11.35mil to expand its fleet and RM4.75 to build a new warehouse, RM3.75mil to repay borrowings, RM3.08mil as working capital and the remaining RM3.51 for estimated listing expenses.
Xin Hwa managing director Ng Aik Chuan said at the launch of the prospectus that its strong fundamentals would put it in good stead.
He said the proceeds raised would be mainly used to expand its business which included the construction of a new warehouse in Pasir Gudang, Johor measuring 220,000 sq. ft. and to buy 101 new vehicles such as prime movers and trailers.
Ng said the new warehouse was expected to start operations in the third quarter of 2015 while the purchase of vehicles would be over the next 24 months.
“Xin Hwa would continue to capitalise on its strengths to generate sustainable revenue from its existing business,” he added.
The Johor-based company said on Thursday the initial public offer (IPO) comprised of 54 million shares at an issue price of 70 sen per share -- 37.78 million new shares and 16.22 million existing shares.
Under the listing exercise, it would be selling nine million shares to the public, three million units for eligible directors, employees and other persons who have contributed to the success of the company.
Xin Hwa said 18.22 million shares would be offered to approved Bumiputera investors while the remaining 23.78 million shares would be placed out to selected investors.
Based on the issue price of 70 sen per share and the enlarged issued and paid-up of 180 million shares, it would have a market capitalisation of RM126mil.
It said of the RM26.45mil to be raised from the IPO, it plans to use RM11.35mil to expand its fleet and RM4.75 to build a new warehouse, RM3.75mil to repay borrowings, RM3.08mil as working capital and the remaining RM3.51 for estimated listing expenses.
Xin Hwa managing director Ng Aik Chuan said at the launch of the prospectus that its strong fundamentals would put it in good stead.
He said the proceeds raised would be mainly used to expand its business which included the construction of a new warehouse in Pasir Gudang, Johor measuring 220,000 sq. ft. and to buy 101 new vehicles such as prime movers and trailers.
Ng said the new warehouse was expected to start operations in the third quarter of 2015 while the purchase of vehicles would be over the next 24 months.
“Xin Hwa would continue to capitalise on its strengths to generate sustainable revenue from its existing business,” he added.
Mobile sharing-based Sedania to raise RM19.5m from IPO
KUALA LUMPUR: Telecommunications and IT business-based Sedania Innovator Bhd plans to raise RM19.55mil from its proposed listing on the Ace Market of Bursa Malaysia Securities Bhd.
In its prospectus issued on Tuesday, it announced it was selling 51.46 million new shares at an offer price of 38 sen each.
Sedania is offering for sale nine million shares to the public while one million units would be offered to the directors and entitled employees while the bulk of 41.46 million shares would be placed out.
Of the RM19.6mil, RM6.8mil will be for working capital, RM4.1mil for marketing expenses, RM4mil for capital expenditure, RM2.5mil for research and development and RM2.2mil for listing expenses.
Managing director Datuk Azrin Mohd Noor said he intends to list the company on the ACE Market on June 29.
The company provides airtime sharing solutions, including transfer that allows prepaid and/or post-paid mobile subscribers to transfer airtime credit to other prepaid subscribers on the same telecommunications network through SMS.
It also provides the airtime sharing request, which enables prepaid mobile subscribers with low or zero credits to request airtime credit other prepaid or post-paid subscribers on the same telecommunications network through SMS. It also offers SMS broadcast, mobile billing, mobile content, Islamic content, and web portal services.
In July 2014, it acquired IDOTTV Sdn Bhd which is an aggregator (platform and service enabler) specialising in providing ancillary services to mobile subscribers by partnering services providers such as mobile network operators (MNOs) and utility companies for their infrastructure and gateway.
Its ATS platform used the MNOs infrastructure and gateway to offer customises solutions to the MNO subscribers.
In its prospectus issued on Tuesday, it announced it was selling 51.46 million new shares at an offer price of 38 sen each.
Sedania is offering for sale nine million shares to the public while one million units would be offered to the directors and entitled employees while the bulk of 41.46 million shares would be placed out.
Of the RM19.6mil, RM6.8mil will be for working capital, RM4.1mil for marketing expenses, RM4mil for capital expenditure, RM2.5mil for research and development and RM2.2mil for listing expenses.
Managing director Datuk Azrin Mohd Noor said he intends to list the company on the ACE Market on June 29.
The company provides airtime sharing solutions, including transfer that allows prepaid and/or post-paid mobile subscribers to transfer airtime credit to other prepaid subscribers on the same telecommunications network through SMS.
It also provides the airtime sharing request, which enables prepaid mobile subscribers with low or zero credits to request airtime credit other prepaid or post-paid subscribers on the same telecommunications network through SMS. It also offers SMS broadcast, mobile billing, mobile content, Islamic content, and web portal services.
In July 2014, it acquired IDOTTV Sdn Bhd which is an aggregator (platform and service enabler) specialising in providing ancillary services to mobile subscribers by partnering services providers such as mobile network operators (MNOs) and utility companies for their infrastructure and gateway.
Its ATS platform used the MNOs infrastructure and gateway to offer customises solutions to the MNO subscribers.
Tuesday, 27 January 2015
AirAsia earnings still intact
PETALING JAYA: Industry analysts generally concur that AirAsia Bhd’s earnings prospect remains intact despite its decision to abolish fuel surcharges across all airlines in the group.
The total removal of surcharge effective yesterday also includes low-cost long-haul affiliates AirAsia X, Thai AirAsia X and Indonesia AirAsia X, in line with declining global oil prices.
Largely, the analysts had already factored in the removal of surcharges to some extent in their previous estimates and believed that this would boost sales for the budget airline group.
AirAsia domestic flight fare could now go to as low as RM19 one way all-in, and international flights from RM49 one way all-in, said AirAsia in a statement.
MIDF Research analyst Tay Yow Ken said there wouldn’t be any changes in the company’s estimates published in a report last Friday as he had expected the fuel surcharge abolishment to be implemented soon.
“We have already factored it in our estimates,” he told StarBiz yesterday.
In the report, the research house said the removal of fuel surcharge would be positive for AirAsia.
“Even with the lower fuel surcharge, management expects yields to remain resilient.
“This is mainly due to the higher passenger volume expected in anticipation of Malaysia Airlines’ (MAS) planned capacity reduction,” it said.
MIDF Research explained that when AirAsia last removed its fuel surcharge in November 2008, Brent crude prices averaged at US$54.7 per barrel for that month.
“Despite that, yield was sustained at 14.1 sen before rising to 16.2 sen in 2010 due to higher passenger volume and the introduction of new routes. Furthermore, AirAsia, which adopts a lean operating cost structure, would have an edge over its rivals.
“We also believe that the fuel surcharge removal would generate positive publicity for AirAsia in the wake of the QZ8501 crash,” it said.
According to MIDF Research, the management guided that for every dollar of change in jet fuel price, earnings would be impacted by RM15mil.
Crude oil prices have plunged by more than 50% over the last seven months to around US$45 per barrel currently due to oversupply of the commodity in the international market amid weak demand. About 50% of AirAsia’s jet fuel requirements for 2015 are hedged at US$88 per barrel while it is presently hovering at US$60 per barrel.
On whether MAS would follow suit, Tay said MAS had, to some extent, lowered its fuel surcharges, adding it was hard to predict the immediate action now that the airline had been taken private.
MAS’ community airline, Firefly, had announced special fares with the removal of fuel surcharges under a Chinese New Year promotion deal recently.
MIDF has maintained its “buy” call on AirAsia with a target price of RM3.70 pegged to financial year 2015 price-to-earnings ratio of 10 times.
The total removal of surcharge effective yesterday also includes low-cost long-haul affiliates AirAsia X, Thai AirAsia X and Indonesia AirAsia X, in line with declining global oil prices.
Largely, the analysts had already factored in the removal of surcharges to some extent in their previous estimates and believed that this would boost sales for the budget airline group.
AirAsia domestic flight fare could now go to as low as RM19 one way all-in, and international flights from RM49 one way all-in, said AirAsia in a statement.
MIDF Research analyst Tay Yow Ken said there wouldn’t be any changes in the company’s estimates published in a report last Friday as he had expected the fuel surcharge abolishment to be implemented soon.
“We have already factored it in our estimates,” he told StarBiz yesterday.
In the report, the research house said the removal of fuel surcharge would be positive for AirAsia.
“Even with the lower fuel surcharge, management expects yields to remain resilient.
“This is mainly due to the higher passenger volume expected in anticipation of Malaysia Airlines’ (MAS) planned capacity reduction,” it said.
MIDF Research explained that when AirAsia last removed its fuel surcharge in November 2008, Brent crude prices averaged at US$54.7 per barrel for that month.
“Despite that, yield was sustained at 14.1 sen before rising to 16.2 sen in 2010 due to higher passenger volume and the introduction of new routes. Furthermore, AirAsia, which adopts a lean operating cost structure, would have an edge over its rivals.
“We also believe that the fuel surcharge removal would generate positive publicity for AirAsia in the wake of the QZ8501 crash,” it said.
According to MIDF Research, the management guided that for every dollar of change in jet fuel price, earnings would be impacted by RM15mil.
Crude oil prices have plunged by more than 50% over the last seven months to around US$45 per barrel currently due to oversupply of the commodity in the international market amid weak demand. About 50% of AirAsia’s jet fuel requirements for 2015 are hedged at US$88 per barrel while it is presently hovering at US$60 per barrel.
On whether MAS would follow suit, Tay said MAS had, to some extent, lowered its fuel surcharges, adding it was hard to predict the immediate action now that the airline had been taken private.
MAS’ community airline, Firefly, had announced special fares with the removal of fuel surcharges under a Chinese New Year promotion deal recently.
MIDF has maintained its “buy” call on AirAsia with a target price of RM3.70 pegged to financial year 2015 price-to-earnings ratio of 10 times.
Monday, 5 January 2015
Malaysia's IHH eyes Thai hospital operator
PETALING JAYA: IHH Healthcare Bhd is believed to be looking at acquiring an 11.5% associate stake in Bangkok Dusit Medical Services Pcl (BDMS), the largest hospital operator listed on the Stock Exchange of Thailand, to gain a foothold in Thailand, sources said.
It is understood that the acquisition could be funded by a combination of cash and issuance of new shares.
The 11.5% stake in BDMS has a market value of 30.64 billion baht (RM3.27bil) based on the last closing price of the company’s shares at 17.20 baht.
IHH has a market capitalisation of RM39.26bil on Bursa Malaysia while it is valued at S$15bil (RM39.72bil) on the Singapore stock exchange.
The acquistion will be funded internally and externally, the quantum of which will be determined later by the company.
“IHH has been wanting to gain an entry into Thailand and this move would give it an instantaneous exposure to the country. Acquisition of an entire stake can take longer and will be more tedious in regulatory terms,” the source said.
“The IHH brand name is well recognised, especially since its successful IPO (initial public offering), and this acquisition will help it solidify its presence in Asia,” he added.
Analysts said that the acquisition made sense as the baht had been strenghtening in the past year against the ringgit and Singapore dollar.
“The healthcare sector excels on both fronts of being defensive in nature as earnings are backed by a growing exposure to insurance-based clients, and they can be viewed as growth companies as well,” said MIDF Research healthcare analyst Ahmad Annuar Rahman.
The purchase of the Thai asset could be a catalyst for the stock moving forward, he added.
The acquisition into BDMS will be the second associate stake buy for IHH after its 10.85% interest in India-based Apollo Hospital Enterprise Ltd.
At present share prices, BDMS is valued at a forecast FY14 ended Dec 31 price/earnings ratio of 36.52 times and price-to-book ratio of 5.82 times, according to Bloomberg data.
IHH was last traded at a forecast FY14 ended Dec 31 price/earnings ratio of 51.06 times and a price-to-book ratio of 2.07 times.
BDMS operates six major hospital groups in Thailand – Bangkok Hospitals, Samitivej Hospitals, BNH Hospital Phyathai Hospital, Paolo Memorial Hospital and the Royal Hospitals with a total of 29 hospitals – and two in Cambodia with a bed count of almost 5,000.
A presence in BDMS would also ease targeting of medical tourism dollars from the north Asean region for IHH indirectly, given the bigger similarity of country cultures of Cambodia, Laos, Myanmar and Vietnam to Thailand.
It is understood that the acquisition could be funded by a combination of cash and issuance of new shares.
The 11.5% stake in BDMS has a market value of 30.64 billion baht (RM3.27bil) based on the last closing price of the company’s shares at 17.20 baht.
IHH has a market capitalisation of RM39.26bil on Bursa Malaysia while it is valued at S$15bil (RM39.72bil) on the Singapore stock exchange.
The acquistion will be funded internally and externally, the quantum of which will be determined later by the company.
“IHH has been wanting to gain an entry into Thailand and this move would give it an instantaneous exposure to the country. Acquisition of an entire stake can take longer and will be more tedious in regulatory terms,” the source said.
“The IHH brand name is well recognised, especially since its successful IPO (initial public offering), and this acquisition will help it solidify its presence in Asia,” he added.
Analysts said that the acquisition made sense as the baht had been strenghtening in the past year against the ringgit and Singapore dollar.
“The healthcare sector excels on both fronts of being defensive in nature as earnings are backed by a growing exposure to insurance-based clients, and they can be viewed as growth companies as well,” said MIDF Research healthcare analyst Ahmad Annuar Rahman.
The purchase of the Thai asset could be a catalyst for the stock moving forward, he added.
The acquisition into BDMS will be the second associate stake buy for IHH after its 10.85% interest in India-based Apollo Hospital Enterprise Ltd.
At present share prices, BDMS is valued at a forecast FY14 ended Dec 31 price/earnings ratio of 36.52 times and price-to-book ratio of 5.82 times, according to Bloomberg data.
IHH was last traded at a forecast FY14 ended Dec 31 price/earnings ratio of 51.06 times and a price-to-book ratio of 2.07 times.
BDMS operates six major hospital groups in Thailand – Bangkok Hospitals, Samitivej Hospitals, BNH Hospital Phyathai Hospital, Paolo Memorial Hospital and the Royal Hospitals with a total of 29 hospitals – and two in Cambodia with a bed count of almost 5,000.
A presence in BDMS would also ease targeting of medical tourism dollars from the north Asean region for IHH indirectly, given the bigger similarity of country cultures of Cambodia, Laos, Myanmar and Vietnam to Thailand.
Wednesday, 26 November 2014
Saturday, 22 November 2014
Tuesday, 18 November 2014
Tuesday, 28 October 2014
Matrix Concepts: Sitting tight in Negeri Sembilan
The Seremban-based property developer is a burgeoning property player. A strong performance in its second quarter as well as the recent purchase of a 164-acre piece of land to replenish its land bank led to great optimism among analysts. Yet its share price has been on a downtrend lately.
Business model: Established in 1996, Matrix Concepts Holdings Bhd started off as a property development company in Negeri Sembilan. In 2004, its acquisition of another property developer, Seventech Sdn Bhd, saw Matrix Concepts expanding into Johor. It went public in the same year and subsequently went into joint-venture (JV) with Kemajuan Tanah Negeri Johor Bhd and Menteri Besar Incorporated.
The group was listed on the main market of Bursa Malaysia Securities Berhad on May 28, 2013.
Its primary activities are investment holding, property development and construction. The group has undertaken various township developments in Kluang and Seremban as well as residential and commercial projects in Seremban. Bandar Sri Sendayan in Negeri Sembilan is thus far the group’s largest project and constitutes 79.7% of revenue in 2013.
Others include Sendayan TechValley as well as Taman Sri Impian in Kluang. In 2011, it signed a memorandum of understanding (MoU) with six foreign companies from Japan, Taiwan, Hong Kong and France for the sale of industrial lots at Sendayan TechValley 2 in Negeri Sembilan.
According to the group it has to-date successfully built and sold 22,000 residential and commercial properties with a gross development value (GDV) of RM2.5 billion.
Shareholder and management assessment: The company’s major shareholders include its founder, Lee Tian Hock, who is also managing director and CEO. He currently owns a substantial 19.81% of the company’s shares followed by Shining Term Sdn Bhd which holds 15.93%.
Its non-independent non-executive chairman Mohamad Haslah Mohamad Amin spent 20 years in Maybank Bhd and had previously served various foreign companies namely Peregrine Fixed Income Ltd in Hong Kong, Fleet Boston NA in Singapore as well as Pacific Plywood Holdings Ltd in Hong Kong.
Lee has had 30 years of experience in the property development industry and prior to founding the group, he held various executive positions in several property development companies. He currently leads the group’s business direction and overall strategies and policies.
Matrix Concepts 1 year price performanceShare performance: Matrix Concepts has been trading in a 52-week range of RM1.89 to RM3.32 with an annual return of 62.99% and has far surpassed the FBM KLCI benchmark of 3.04%. However, there has been a slump in the share price since late September when it plunged to RM2.74, an all-time low since experiencing a general uptrend in mid-June.
As at Oct 23, it was trading at RM2.96 up 0.06 sen.
Analyst calls on Matrix Concepts Holdings 231014What analysts think: Analysts are on the whole positive. The group currently registered revenue of RM163.7 million for the second quarter of the financial year ending Dec 31, 2014 (2QFY14) compared to RM147.3 million in last year’s corresponding quarter. Its profit before tax (PBT) for 2QFY14 stands at RM58.6 million compared to last year’s RM40.6million.
Analysts’ optimism stems from the group’s recent purchase of 164 acres of land for RM71.5 million in Sendayan, Negeri Sembilan to replenish its industrial land bank. The pricing of the land is deemed fair to most analysts and is in line with the current market value of RM72 million.
Earnings forecast:
Earnings forecast for Matrix Concepts Holdings 231014
StockStalk: The new land slated for the development of a full facility industrial park called Sendayan TechPark is expected to generate GDV of RM170 million. The purchase has now increased the group’s land bank to a total 1,164 acres.
Given the infrastructure in Sendayan TechValley and its close proximity to Greater Klang Valley, Matrix’s industrial land is highly sought after and there would be ready buyers as noted by RHB.
In addition, the selling price is expected to be RM30-RM35 per square feet (psq), which according to RHB would make Matrix rake in a 50% gross margin by selling the industrial land plot and thus retain the group’s overall margin at 30% to 40%.
The group’s higher presence in Negeri Sembilan which is seen as an increasingly thriving satellite city is a reason to be optimistic. However, the lack of landbank diversification means that the group’s “fate is completely tied to that of Seremban” as observed by HongLeong Group.
It is also important to note that Sendayan TechValley has been quite well received with 760 acres sold to date mostly to multinational corporations from Japan, the UK, Germany, France and China.
The share has been experiencing a general downtrend and trading below analyst’s expectation lately. Investors seem to be lukewarm about the announcement since late September but this could probably be a result of overall poor market sentiment. The FBM KLCI has been trading at a near one-year low.
Most of the group’s properties consist of affordable housing which is continuously backed by government support. Kenanga believes that the group is “well positioned in the affordable housing segment coupled with industrial developments within the Greater Klang Valley region”.
Overall analysts are confident about Matrix Concepts’ ability to deliver a similar 2Q14 performance in subsequent quarters due to strong billings, sales take up rates as well as potential land sales.
Source:
www.kinibiz.com/story/stock-stalk/115970/matrix-concepts-sitting-tight-in-negeri-sembilan.html
Tuesday, 21 October 2014
Friday, 29 August 2014
Thursday, 28 August 2014
Monday, 25 August 2014
Friday, 22 August 2014
Wednesday, 20 August 2014
Tuesday, 19 August 2014
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