YTLP market cap at 29.451B, FPE 2024 of 9.20

@dragon328 thanks for the defense.😀

YTLP Net short position back to ZERO!!!

Total Net Short is at 9,603,570 shares

KUALA LUMPUR (Jan 10): RHB Investment Bank Bhd (RHB IB) has raised its target price (TP) for Kelington Group Bhd by 22% to RM2.64 (from RM2.16), as the research house remains upbeat on the group’s prospects, supported by tailwinds in the water fab industry, improved earnings delivery and margin prospects.

In a note, the research house said the integrated engineering services provider's exposure in the front-end of the chip value chain ostensibly shields it from the inventory correction or adjustments plaguing the broader semiconductor sector.

“The US-China trade tiff further strengthens its position as the East Asian nation forges ahead in its quest to be technology-independent and self-sufficient,” said RHB IB, which maintained its "buy" recommendation for Kelington.


Kelington secured its first ultra-high purity contract for 2024 that entails the engineering, procurement, construction and commissioning of a gas connection system in Shanghai, China.

The RM143 million contract was awarded by a long-standing major customer, the largest semiconductor foundry in China.

With this latest contract, Kelington’s order book stands at RM1.85 billion — reflecting a cover ratio of 1.4 times for the financial year ended Dec 31, 2022 (FY2022) — compared to RM1.51 billion as of end-September 2023, which is expected to keep the group busy over the next 12 to 18 months.

RHB IB’s TP of RM2.64 for Kelington is based on a higher price-to-earnings (P/E) ratio of 21 times FY2024 forecast earnings per share, supported by tailwinds in the wafer fab industry, improved earnings delivery and margin outlook.

“We lift FY2023-FY2025 forecast core earnings by circa 3%-6% after factoring in incrementally higher margins and stronger billing momentum. A 2% ESG (environmental, social and governance) premium is baked into our TP based on our proprietary scoring model,” said the research house in a note.

“Going forward, management’s [Kelington] focus on higher-margin projects should continue to fuel earnings with the timely expansion of the liquid carbon dioxide (LCO2) plant (testing and commissioning phase) set to propel the next leg up in earnings. The latter is underpinned by the insatiable demand from Oceania, which offer circa two times higher margins vis-à-vis Kelington’s conventional businesses,” it added.

At the time of writing on Wednesday, shares of Kelington were down one sen or 0.43% to RM2.33, valuing it at RM1.51 billion.

YTLPower Net short position increase to 8,232,870 from Zero.

Top Code Stock Prv Close M-Cap L4Q P/E
1 1155 MAYBANK 9.06 $109,265,743,523.52 11.69
2 1295 PBBANK 4.36 $84,630,615,964.60 12.48
3 1023 CIMB 6.03 $64,310,592,846.24 9.52
4 5347 TENAGA 10.54 $60,998,477,920.34 21.13
5 5183 PCHEM 7.22 $57,760,000,000.00 27.61
6 5225 IHH 6.05 $53,282,298,351.15 20.56
7 6947 CDB 4.19 $49,155,018,469.72 42
8 5819 HLBANK 19.1 $41,403,419,224.40 10.71
9 8869 PMETAL 4.92 $40,538,919,467.76 27.76
10 6033 PETGAS 17.6 $34,825,681,704.00 18.35
11 3816 MISC 7.37 $32,898,155,169.11 16.59
12 5285 SIMEPLT 4.37 $30,221,672,806.37 12.6
13 6012 MAXIS 3.84 $30,075,176,102.40 25.6
14 6742 YTLPOWR 3.44 $28,064,238,058.72 10.36
15 4707 NESTLE 118 $27,671,000,000.00 42.93
16 1961 IOICORP 3.99 $25,077,943,990.05 19.86
17 4677 YTL 2.25 $24,801,890,265.00 8.65
18 2445 KLK 22.3 $24,106,696,605.50 24.33
19 1066 RHBBANK 5.51 $23,617,778,036.51 7.88
20 6888 AXIATA 2.54 $23,314,874,838.28 2.72
21 4863 TM 5.68 $21,797,728,630.40 13.58
22 5681 PETDAG 21.04 $20,902,272,160.00 22.43
23 4065 PPB 14.52 $20,656,136,594.28 14.64
24 3182 GENTING 4.9 $18,996,790,885.10 12.78
25 1082 HLFG 16.42 $18,842,227,333.80 4.4
26 4715 GENM 2.87 $17,042,188,139.76
27 4197 SIME 2.39 $16,289,278,209.03 8.65
28 7084 QL 5.78 $14,066,538,263.42 34.15
29 1015 AMBANK 4.22 $13,985,860,041.68 7.97
30 5296 MRDIY 1.47 $13,881,824,301.24 25.8

YTLPower Move to top 14, value at 28B

TA TP Rm 2.60 ⚒
AmInvest AffinHwang TP RM 2.70 ⚒
RHB TP Rm 2.95 ⚒
MIDF TP RM 2.99 ⚒
CIMB TP Rm 3.00 ⚒
Kenanga TP RM 3.06 ⚒
D TP RM3.28 ⚒😂
HLIB TP RM 3.90 😁
MrFox TP > 4.00 😁
Uniholder TP 4.28 😁

ATH 3.50. Let see when can hit HLIB target...

ATH 3.49

YTLP Price Diff Point Index Up YTLP Percent of Contribution
3-Jan-24 0.23 2.6925 10.35 26.01%
4-Jan-24 0.2 2.3413 14.89 15.72%
5-Jan-24 0.22 2.5754 9.27 27.78%
8-Jan-24 0.23 2.6940 9.23 29.19%


Total 0.88 10.3031 43.74 23.56%

ATH 2.29

Foreign fund currently hold about 11% of YTLPower shares as of 29-Dec-2023, it should be higher now with last week value of RM164Millions.

@dragon328 don't include any other link like simmplywallst, it will reject your msg due to promotion of other financial web link.

@dragon328, you refer to which year?

@NatsukoMishima 非常に興奮！！！

@xiaochen this one better visually
TA TP Rm 2.60 ⚒
AmInvest AffinHwang TP RM 2.70 ⚒
RHB TP Rm 2.95 ⚒
MIDF TP RM 2.99 ⚒
CIMB TP Rm 3.00 ⚒
Kenanga TP RM 3.06 ⚒
D TP RM3.28 （just for fun）😂
NOW RM 3.32
HLIB TP RM 3.90 😁
MrFox TP > 4.00（Could consider this seriously now）😁

@dragon328, hit ur number?🤣🤣🤣

ATH 3.28

YTLPower Foreign inflow buying RM167.50 Million, Local Insituition Outflow -54.7M

In the fourth consecutive week, foreign investors continued to
be net buyers of domestic equities on Bursa Malaysia, with a
total of RM524.9m. Throughout the week, every trading day,
except Tuesday, saw a net foreign inflow. Tuesday recorded
net foreign selling at -RM23.3m, with the highest outflows
observed in Inari Amertron (-RM13.6m), My E.G. Services
(-RM10.7m) and Public Bank (-RM7.9m).
• The sectors that recorded the highest net foreign inflows were
Utilities (RM208.9m), Financial Services (RM156.0m), and
Property (RM126.9m). Meanwhile, the sectors with the highest
net foreign outflows were Technology (-RM69.4m), Consumer
Products & Services (-RM64.m), and Telecommunication &
Media (-RM16.0m).
• Local institutions continued as net sellers for the third
consecutive week, with a total of -RM141.6m. The Financial
Services sector witnessed the highest net outflows from this
investor group, amounting to -RM139.7m.
• Local retailers shifted to net sellers of domestic equities,
totalling -RM383.3m. This marks a reversal from the previous
week’s figure of RM24.3m.
• In terms of participation, there were substantial increases
in average daily trading volume (ADTV) among local retailers
(+44.8%), local institutions (+22.6%), and foreign investors
(+50.8%)

Buying and selling is parts of trading/investing, the key things is whether market can absorb the selling pressure well. I belief YTL Power volume say for itself. Currently there are no net short seller position in both YTL and YTLP shares. https://www.tradingview.com/x/p5qr4k0q/ . Can it go up to 3.50 today/this week?🤔

@Agjl that is the plan but along the way can use certain percentage of what you have to trade?

@Agjl let the profit run now, until earnings growth is slow or PE is too high or price to book is too high.

@moncmondo87 dividend visibilities is not yet there unless YTLP start quarterly dividend, with current capex for YTLP DC, i think it will take some time in the future to see a clearer picture.
03-Jan-2024 Index up 9.27 points, YTLP contributed 26% in index points
04-Jan-2024 Index up 14.89 points, YTLP contributed 15% in index points
05-Jan-2024 Index up 9.27 points, YTLP contributed 27% in index points. Let's see if this can sustain.

Price of 4.28 is FPE2024 of 10.93 and FPE2025 8.75
Price of 5.14 is FPE2024 13.11 and FPE2025 10.48. All the FPE still below FBMKLCI PE.
With current portfolio readjustment happening in FBMKLCI, foreign fund and local institutional is actively get rid of laggards stock and switch over to movers like YTLP and YTL with lower PE better earnings in the coming quarter. Do wait and see.

Currently YTLPower is traded at FPE 0f 8.21 based of 3.2B earning in 2024. L4QPE of 9.7.
FBMKLCI PE is now at 13.22, i belief foreign fund will push YTLP and YTL to move the index to a higher level like 1550 or 1600. For the last 3 days when index is move up by 10 points, YTLP and YTL contribute about 2.5 point and 2.67 point or about 50 percent of the index increase, but YTLP only contribute 2.36% of the index weightage. Based on this assumption and calculation, if index is push to 1550 or 1600 in one year time. And YTLP contribute only 20 percent of the index increase instead, it will be traded at 4.28 and 5.14 respectively. I belief it will be very exciting for shareholder of YTLP, these things happened only once in a lifetime. If you owned YTLP shares, you know what to do. Currently YTLP and YTL is the key movers of the index with price increase and volume, and the game is just started. This is not a recommendation of buy or sell.

L4QPE 9.52 ,FPE 8.08. FMBKLCI is at 13.20

FPE at 7.75

L4Q P/E at 9.03

@xiaochen I love the story!!!

https://www.tradingview.com/x/47PoxtpY/

correction coming?

@xiaochen most TP is reach. kind of too stretch....?
https://www.tradingview.com/x/boWzKj0A/

ATH 2.93

@ChloeTai need to be at least 2% before it is attractive to convert

https://theedgemalaysia.com/node/696034

https://theedgemalaysia.com/node/695929 Good news for KGB biz.

@ChloeTai son will follow the mother, take some time.

@dragon328 you are right, I am referring to Rolling 4 quarter PE value of 8.22 now. @xiaochen look like a lot of IB need to revised their target price soon.

@Moolala you are right, gross profit margin of latest Q is at 14.8% compare to FY2022 average of 11.4%

Finally PE is above 8.0 already

wow ATH 2.68, YTL and YTLPower is supporting the FBMKLCI....

ATH 2.65

ATH 2.23

No body will make the perfect calls, even TTB's iCap out of 25 counters only 13 is positive as of 31-May-2023. As long as more than 50% is good call, you will make money. @calvintaneng take notes of your concerns on KGB's "receivables" issue, time will tell whether your suspicious is true. Every investors know their risk to trust the management or not. Let's move on and focus on the good to come in 2024.

@sybtu123 on dear... @calvintaneng have you read the latest management update on 29Nov2023? most the job awards name is in there for you to explore, of course not mentioned directly but with photo proof...

@gohkimhock me too since 2018

@xiaoeh Serbak listed on Jan-2017, got flagged End 2018 or early 2019. KGB listed in 2009, show steady grow of business all these years, cash is reinvested in recurring income asset of LCO2 and gas supply onsite. It show management commitment to create more income stream. Net cash from 2018-2020, and 2022, data from Equities Trackers, 5 years Cash Flow analysis. 2018 to 2022, dividends paying. 1.8,2.0,1.5,1.5,2.5 cents. Time will tell. I don't know where he get the number of receivable rolling from 18 months old invoices, maybe he has people work inside KGB.

@gohkimhock hahaha, I think uncle just don't trust the number by KGB management, external auditors. He just don't have faith in this KGB. Maybe because of the name, Komitet Gosudarstvennoy Bezopasnosti. Time will tell. 2 years.

@calvintaneng brother, out of RM400M, RM354M is NOT YET DUE, when you have Revenue of 1.53B per annum, you will have higher receivables, as long as they are not due, you are ok. If you see RM400M over 6 months receivable, do you think the share price can keep moving up? The receivable is a rolling numbers, you received payment and you invoices for completion of works, so this RM400M will not be 2022 invoices. maybe a bit of bad debt, which stated as 12M.

@calvintaneng have you read the management update release on 29Nov2023?