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Rakuten Trade Research Reports

Author: rakutentrade   |   Latest post: Wed, 13 Jan 2021, 6:07 PM

 

Technical View- V.S. Industry Bhd

Author: rakutentrade   |  Publish date: Wed, 13 Jan 2021, 6:07 PM


V.S. Industry Bhd (6963)

• VS ended 5.5% or 13 sen higher to RM2.50 yesterday.

• Share price formed a bullish breakout with higher volume during the second session yesterday. Besides, key indicator is displaying positive sign given the uptick in the momentum indicator, as such we expect the positive move to continue.

• From here, resistance levels are identified at RM2.67 (R1) and RM2.79 (R2) level.

• On the downside, support levels are expected at RM2.30 (S1) and RM2.13 (S2).

Source: Rakuten Research - 13 Jan 2021

Labels: VS
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roselarsson001 Private Lender Bentex Funding Group Ltd.
Greetings to you by (BFGL).
We are a France-Paris based investment company known as Bentex Funding
Group Ltd working on expanding its portfolio globally and financing
projects.
We would be happy to fund and invest with you in any profitable
project if you have any viable project we can finance by making mutual
investment with you. If you are interested, kindly contact us
on:bentexgroup@gmail.com for more details.
Looking forward hearing from you soonest.
Yours truly,
Mrs Rose Larsson.
(Personal Assistant)
Bentex Funding Group Ltd(BFGL)
509 Rue Jacques Coeur,75008 Paris-France
Paris-France.Bentex Funding Group Ltd (BFGL)
13/01/2021 7:15 PM

Technical View- Solution Group Bhd

Author: rakutentrade   |  Publish date: Tue, 12 Jan 2021, 12:49 PM


Solution Group Bhd (0093)

• SOLUTN rose 7.3% or 8 sen to RM1.17 yesterday.

• Share price formed a slight rebound from recent low of RM1.05 indicating the re-emergence of buying interest. Supported by higher trading volume, we expect buying momentum to persist and likely to rebound further.

• From here, resistance levels are identified at RM1.25 (R1) and RM1.54 (R2) level.

• On the downside, support levels are seen at RM1.02 (S1) and RM0.80 (S2).

Source: Rakuten Research - 12 Jan 2021

Labels: SOLUTN
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TCS Group Holdings Bhd- Backed by strong orderbook

Author: rakutentrade   |  Publish date: Mon, 11 Jan 2021, 12:12 PM


We remain favourable on TCS Group Holdings Bhd (“TCS”) as our construction recovery pick. Fundamentals are solid with strong growing orderbook and healthy balance sheet with net cash position. Continue to recommend BUY with a target price of RM0.75 based on 9x FY21 PER as per closest industry peers.

Since TCS’s debuted on ACE Market in July last year, the group continues to secure new projects despite challenging landscape during the period. Outstanding orderbook registered a sturdy growth from RM420.0m as of June 2020 to RM898.3m as of Sept 2020, providing earnings visibility over next 3 years. Among the latest project wins are RM323.0m from Mah Sing M Arisa Project, RM146.3m from Vista Sentul Residences Project and RM68.4m from Sime Darby Elmina Green Three.

Recent proposed acquisition to acquire 25% stake in Southern Score Sdn Bhd (“SSSB”) is set to provide additional earnings to the group. The acquisition comes with profit after tax guarantee of not less than RM20m/year from FY21 to FY23, translating to an average profit after tax of RM5m/year to TCS. This implies a forward PE valuation of 6x, which is lower than the comparable listed companies in Bursa. Besides being TCS’s existing customer, SSSB is a Grade 7 contractor and the collaboration should create synergies for both parties to expand construction business. The acquisition will be done via an issuance of 60m new shares in TCS at RM0.50/share with expected completion in 1QCY21.

To recap, TCS’s revenue growth was mainly centred on private residential projects (residential: 78% and commercial 22% in FY19) having a proven track record of completing its construction projects ahead of schedule. Key notable clients include IJM Land Group, Worldwide Holdings and Tropicana Group. The group are also in plan to expand infrastructure construction services.

Tenderbook stands at RM2.6bn, with historical success rate of 20%-30%. Balance sheet remains sound with net cash of 6.2sen/share, equivalent to 12% of share price. Looking forward, we expect orderbook to continue growing driven by the resumption of construction activities by the government especially within the infrastructure sector.

Source: Rakuten Research - 11 Jan 2021

Labels: TCS
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Technical View- TCS Group Holdings Bhd

Author: rakutentrade   |  Publish date: Mon, 11 Jan 2021, 12:11 PM


TCS Group Holdings Bhd (Fundamental BUY with TP 0.75)

• We remain favourable on TCS Group Holdings Bhd (“TCS”) as our construction recovery pick. Fundamentals are solid with strong growing orderbook and healthy balance sheet with net cash position. Continue to recommend BUY with a target price of RM0.75 based on 9x FY21 PER as per closest industry peers.

• Since TCS’s debuted on ACE Market in July last year, the group continues to secure new projects despite challenging landscape during the period. Outstanding orderbook registered a sturdy growth from RM420.0m as of June 2020 to RM898.3m as of Sept 2020, providing earnings visibility over next 3 years.

• Among the latest project wins are RM323.0m from Mah Sing M Arisa Project, RM146.3m from Vista Sentul Residences Project and RM68.4m from Sime Darby Elmina Green Three.

• Recent proposed acquisition to acquire 25% stake in Southern Score Sdn Bhd (“SSSB”) is set to provide additional earnings to the group. The acquisition comes with profit after tax guarantee of not less than RM20m/year from FY21 to FY23, translating to an average profit after tax of RM5m/year to TCS.

• This implies a forward PE valuation of 6x, which is lower than the comparable listed companies in Bursa. Besides being TCS’s existing customer, SSSB is a Grade 7 contractor and the collaboration should create synergies for both parties to expand construction business. The acquisition will be done via an issuance of 60m new shares in TCS at RM0.50/share with expected completion in 1QCY21.

• To recap, TCS’s revenue growth was mainly centred on private residential projects (residential: 78% and commercial 22% in FY19) having a proven track record of completing its construction projects ahead of schedule. Key notable clients include IJM Land Group, Worldwide Holdings and Tropicana Group. The group have plans to expand into infrastructure construction services.

• Tenderbook stands at RM2.6bn, with historical success rate of 20%-30%. Balance sheet remains sound with net cash of 6.2sen/share, equivalent to 12% of share price. Looking forward, we expect orderbook to continue growing driven by the resumption of construction activities by the government especially within the infrastructure sector.

Source: Rakuten Research - 11 Jan 2021

Labels: TCS
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Technical View- Bumi Armada Bhd

Author: rakutentrade   |  Publish date: Fri, 8 Jan 2021, 9:49 AM


Bumi Armada Bhd (5210)

• ARMADA closed at RM0.36 yesterday.

• Recent share price movement suggests some renewed buying interest coupled with improvement on the global crude oil prices. With the brent crude oil price hitting multiple months high of above USD54 per barrel recently, we expect further buying interest on the stock.

• From the chart, resistance levels are expected at RM0.39 (R1) and RM0.45 (R2) level.

• On the downside, support levels are seen at RM0.33 (S1) and RM0.28 (S2).

Source: Rakuten Research - 8 Jan 2021

Labels: ARMADA
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loyalok https://klse0.i3investor.com/blogs/rakuten/2021-01-08-story-h1539230533-Technical_View_Bumi_Armada_Bhd.jsp
08/01/2021 9:53 AM

Technical View- Bermaz Auto Bhd

Author: rakutentrade   |  Publish date: Thu, 7 Jan 2021, 9:52 AM


Bermaz Auto Bhd (5248)

• BAUTO rose 2.1% or 3 sen to RM1.48 yesterday.

• Share price slightly rebounded from low of RM1.37 recently to trend above key moving average lines indicating buying interest remains sustained. Based on signals from key technical indicators, we expect the buying strength to persist.

• From the chart, resistance levels are expected at RM1.53 (R1) and RM1.67 (R2) level.

• On the downside, support levels are seen at RM1.39 (S1) and RM1.22 (S2).

Source: Rakuten Research - 8 Jan 2021

Labels: BAUTO
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