AmInvest Research Reports

Author: AmInvest   |   Latest post: Thu, 9 Jul 2020, 9:40 AM


AmWatch - Stock Focus Of The Day

Author:   |    Publish date:

Pos Malaysia: A long metamorphosis Underweight

We downgrade Pos Malaysia (Pos) to an UNDERWEIGHT with a lower DCF-based fair value of RM2.70/share (WACC: 8.6%, terminal growth rate: 1.5%) from RM5.27/share previously. Our FV has an implied FY20 PE multiple of 24.8x and PB multiple of 1.06x. Its comparable GD Express Carrier (GDex) is trading at a forward PE of 50.7x and PB of 4.4x.

Our resumption of coverage on Pos also opens our coverage on the sector of ecommerce, which will be our emphasis for this stock. The group’s e-commerce business has experienced strong growth (3-year CAGR of 18% to FY18) but faces increasing headwinds from competition, an absence of pricing power to defend its margins and slow results from reforms to improve the service quality by eradicating various legacy issues.


Eastern & Oriental: 1HFY19 core profit up 9.5% YoY; expects stronger 2H Buy

Malaysia Pacific Industries: Braving through the storm Buy

Sapura Energy: Mutually beneficial strategic partnership with OMV Buy


Plantation Sector: News flow for week 5 – 9 Nov Neutral


Insurance Sector: Great Eastern confirms participating in health plan for the poor

Tatt Giap: Gets new shareholder

PPB Group: An indirect casualty of tit-for-tat trade spat

E-Commerce: Alibaba Singles' Day tops US$30 billion but growth rate plunges

Source: AmInvest Research - 12 Nov 2018

Share this
Labels: E&O, MPI, SAPIND

Related Stocks

Chart Stock Name Last Change Volume 
E&O 0.415 0.00 (0.00%) 69,200 
MPI 12.28 +0.30 (2.50%) 49,200 
SAPIND 0.455 0.00 (0.00%)

  Be the first to like this.
Bruce88 after falling so much only down grade ?!!tak bolih pakai lah
13/11/2018 12:11 PM

I3 Messenger
Individual or Group chat with anyone on I3investor
MQ Trader
Perform Technical & Fundamental Analysis on Stocks
MQ Affiliate
Earn rewards by referring your friends

199  252  535  1235 

Top 10 Active Counters
 VC 0.085+0.005 
 MQTECH 0.085-0.005 
 DGB 0.055+0.005 
 PDZ 0.21+0.005 
 EDUSPEC 0.025+0.005 
 FINTEC 0.10+0.01 
 LUSTER 0.135+0.01 
 HUBLINE 0.075+0.005 
 MLAB 0.06+0.005 
 HUAAN 0.125+0.025 


1. MQ Trader - Introduction to MQ Trader Affiliate Program MQ Trader Announcement!
2. MQ Affiliate – A smarter way to earn more rewards MQ Trader Affiliate Program
3. MQ Affiliate – How to become an effective affiliate MQ Trader Affiliate Program
4. MQ Affiliate – Upgrading to Affiliate Partner MQ Trader Affiliate Program
Partners & Brokers