1⃣ With a steady earnings stream from its BPO business & growing recurring earnings from its EMGS contract. 2⃣ expect earnings growth to continue on an upward trajectory. Contribution from EMGS Phase 2 should become more meaningful in the subsequent quarters & particularly 1QFY16 when the main intake commences in Sept for the public universities. 3⃣ On top of improving cash flows, and minimal capex given its asset-light model, 2015-17E dividend yields at 3.6-3.9% are also compelling. http://fatta888.blogspot.com/2015/08/scicom-0099.html
mocicsSorry for being away for a while - Things are looking good for Scicom still. Think Scicom can still grow at least 30% in FY16, which will translate into eps of around 13 sen. At CIMB's type of valuation which is 21.6x CY16 PER..we are looking toward TP of RM2.80++. At 4.5% yield, still a very good company to hold...
cch1975I am asking MAS training question Mocics and you answered others.
mocicsI dont have any new info on MAS training contract. In any case, there is just for one year and not the core business of the company. If the core business can grow at 30% p.a., I wont worry too much about the one off contract - pure icing on the cake!
As far as i know, nothing much has progress other than having 1-2 thousand MAS staffs 'registered' - this however does not mean the training has started or the earnings has starrting to come in. Sept/Oct will be crucial as new student intakes is starting....
Dont miss the forest from the tree! :)
cch1975Thanks a lot mocics. I think now at 1.80 is totally undervalued.