KLSE: REXIT (0106)       REXIT BHD ACE : Technology
Last Price Today's Change   Day's Range   Trading Volume
0.915   0.00 (0.00%)  0.00 - 0.00  0
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Market Cap: 173 Million
NOSH: 189 Million
Avg Volume (4 weeks):634,626
4 Weeks Range:0.675 - 0.93
4 Weeks Price Volatility (%):
52 Weeks Range:0.355 - 0.93
52 Weeks Price Volatility (%):
Average Price Target: 0.65
Price Target Upside/Downside: -0.265

Financial Highlight

Latest Quarter | Ann. Date 30-Sep-2020 [#1]  |  18-Nov-2020
Next QR | Est. Ann. Date: 31-Dec-2020  |  26-Feb-2021
T4Q P/E | EY: 17.34  |  5.77%
T4Q DY | Payout %: 4.05%  |  70.22%
T4Q NAPS | P/NAPS: 0.2131  |  4.29
T4Q NP Margin | ROE: 39.35%  |  24.77%


Date Subject
09-Nov-2020 REXIT BHD - An undiscovered net cash tech gem
20-Jan-2020 力事与IFCA 值得投资?
16-Dec-2019 Rexit Berhad (KLSE) #RTable - CashRich Series - YAPSS

Business Background

Rexit Bhd focuses on delivering solutions and services to the general insurance and financial service industries. It offers several web-based insurance solutions which cater for the front-end marketing and sales functions, as well as the back-end operations of insurance companies. In addition, it also offers a suite of workflow, case management, and document management applications that are suited for the financial industry. Its products include e-Cover, which is an online insurance transaction system; e-PPA, which is an online system to submit investment and redemption applications to the employee provident fund, and InfoGuardian, which is an integrated workflow, case management, and document management system. The group operates principally in Malaysia and Hong Kong.
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  3 people like this.
gohku This is a very steady cashflow stock.

You buy because of its visible steady & stable cashflow.

It pays good dividend.
17/05/2020 9:45 AM
Erudite Tis is gud company 4 dividend collection & passive investing. It will go back 2 65 sens when mkt rebounds
17/05/2020 9:47 AM
captain star Look at their cash flow from investment activies..evy quarter keep increasing..its a gud sogn too
17/05/2020 10:18 AM
shernlee NOT BAD,,rexit company is more reliable compare to krono..for technology counter pe of 11 is far undervalue..
17/05/2020 11:41 AM
master man damn..i shouldnt sell 1st..if tmr boom jiaksai d me
17/05/2020 8:50 PM
shernlee coming soon..jus wait some1 goreng up..boss control 60%,,very easy naik if got any news,,still gud fundamental..cheapest pe..will folo myeg
19/05/2020 6:32 PM

Theme: Passive Aggressive Mid to Long term Strategy

We came to notice rexit company last week based on their recent quarter result. At a glance the company have not move much since the last drop during March 18. Rexit with the unique business.

Rexit offers integrated financial solution which covers general insurance, unit trust management system and legal practice management. in short, practically they offer company with a web based solutions to cater for front-liners (sales and marketing) agents.

1) e- cover - it's a web based solutions which provides an online system for insurance companies and their intermediaries. the business model is run by SaaS model which is pay per use.
2) e-ppa - enabling online unit trust investment through EPF. traditionally, alot of allocation are done manually or through agents meeting face to face and submitting their application in a hardcopy format. now this has been shifted to online application.
3) infoguardian - it is a work flow management system. this solutions provide an integrated workflow, case management and docent management system for financial and legal services.

Simple financials
1) net cash of of 14 million and zero debt company. defensive play.
2) sales revenue compounded annual growth of around 30% for the past 6 years.
3) Asset light model - asset (ppe) comprise of only 10% of the total asset.
4) Clean accounts. - only 300k in Goodwill as compare to most company such as green packet (7billion in Goodwill) and krono (100million in Goodwill). prudent management which will not give surprises (huge impairement losses).
5) profit margin of 30%.
6) Roe of 24%
7) dividend of 5%.
- without further looking into details, the company has a very clean balance sheet. if there is a scoring for it, it will have gotten 90/100 marks.

why its passive aggressive? we would expect that with mco being lifted and post covid, more businesses, agents, companies, mnc, individual, will adapt to online system and we have seen the growth in adaptability of the online system. the management of rexit is very prudent whereby they don't make aggressive acquisition or even manipulate the share price. which is why it makes the company look boring as retailers loves to gamble. in this case, they can't.

earnings projection. assuming they were to maintain eps of 1.10 cents next 2 quarters and improvement in business to 1.30 cents and pe of 14/15 it will give them a value of 72 cents which is 30% margin of safety. technology sector which demand only a 15 pe, will be quite safe. is it enough? at current economic situation, we would start placing some of our investment in more defensive yet there is room for growth counters. the further upside based on their current financials, they could have gone to main market anytime in the future. any proposal to go to main market will give a boost to the company.

disclaimer: this is not a buy or sell call but more towards sharing purposes.
21/05/2020 10:45 PM
Fear Trend very good insight. buy and hold. 30% upside
22/05/2020 12:49 AM
zhangliang V well said Booyeah. I likely 2
24/05/2020 6:17 PM
Bursawise zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz
27/05/2020 4:13 PM
shernlee hahaha sure or not captain..u are captain..we folo u1
27/05/2020 6:39 PM
lbl1992 Why there is 0 traded volume today?
29/05/2020 11:02 AM
zhangliang Ya but not bad past week performance. I like tis movement now. 70 sens is not a dream
31/05/2020 3:04 PM
investingfundamental I did a pretty deep research on this stock. A lot of good points - healthy balance sheet, great ROE and ROA, virtually no debt, positive owner's earnings and free cash flow.

They operate on a recurring revenue model, so you can expect stable incoming revenue every year. However, organic growth is pretty slow. But no doubt, the mySalam deal will boost their revenue greatly for these five years. Hopefully they can get more clients and more deals.

Based on my valuations, I would say Rexit is fairly valued at the current price.

This is not a buy or sell call.

If you want to learn more about fundamental investing, follow me here: https://www.instagram.com/investingfundamentally/ . I just created this to share more about fundamental investing. Hope we can all learn from each other!
01/06/2020 3:23 PM
Erudite I like tis. But so slowly Kura-Kura pura-pura
08/06/2020 1:40 PM
Lyo82 Liquidity is a problem..
11/06/2020 11:26 AM
zhangliang finally sleeping beauty AWOKEN!
23/06/2020 11:26 AM
Lyo82 Momentum coming
24/06/2020 9:47 AM
slee Main board
24/06/2020 7:15 PM
aliyusof Good company but very low market cap and liquidity.
29/06/2020 3:20 PM
chesslim 记住,当别人恐惧时你要贪婪。
30/06/2020 12:08 AM
Drsnazzy tis stock will fly... now eveyone going into cloud and Saas.. their SaaS is a game changer for the insurance indsutry

just a matter of time . now no more meet f2f transactions
03/07/2020 3:02 PM
Drsnazzy https://www.theedgemarkets.com/article/tech-stocks-high-dividend-yields
06/07/2020 2:06 PM
Lyo82 A very low liquidity and profile stock. However this is the kind of stock will fly easily when getting discovered by people
07/07/2020 12:49 PM
Kon Lim Chai Suitable for those who aim for return better than FD rate
19/07/2020 10:10 AM
chesslim Rexit yesterday got new service contra
30/07/2020 11:45 AM
Invest123 Collecting
24/08/2020 12:13 AM
slee Undervalued counter... If assume PE 20 also have RM1 for this counter.
26/08/2020 8:40 AM
slee Yap... Fundamental strong one days sure people realize... People don't like because is not a goreng counter
26/08/2020 7:11 PM
Lyo82 Low liquidity and staying in ACE board are problems for Rexit now. They have to settle this else wont attract fund house, and valuation will always low.

If they are in MAIN board currently, I think a PE of 20 can be easily achieved.
31/08/2020 9:26 AM
andr improved AND high margin, high growth and still grossly undervalued
04/09/2020 10:31 AM
Racoon https://bluebroinvestment.blogspot.com/2020/09/research-rexit.html
11/09/2020 6:28 PM
Yap Yong Yi Any one know why this company drop from RM3 at 2008 until today havent cover? any story about this stock can share?
18/09/2020 9:16 AM
Vycon Chong Post removed. Why?
21/09/2020 10:13 PM
Vycon Chong Post removed. Why?
21/09/2020 10:15 PM
kyy_superinvestor Stupid stock
24/09/2020 10:37 PM
Lyo82 Yes.. so stupid until nobody cares about
03/10/2020 4:35 PM
Lyo82 Stupid stock quietly moving up..
16/10/2020 11:46 AM
Kon Lim Chai Not so stupid!
06/11/2020 6:51 PM
anarchysons REXIT BHD - An undiscovered net cash tech gem

- Caters to the high-growth insurance and financial services industries

- Developed and currently operates mySalam, which is the Government’s national health protection scheme.

- Has one of the lowest PE ratio (14 times) in the tech industry.

- It is the third highest dividend yield stock in tech industry (3.85%). FY2020 ended June 30 dividend payout ratio was 55.46%.

- Sales revenue grew at a compounded annual growth rate of around 30% for the past 6 years.

- Major shareholders hold over 60% stake in Rexit, CEO holds over 40%. Free float is 25%.

- Sits on a cash pile of RM14.3 million with zero debt

- Serves many clients across Malaysia, Singapore, Thailand and Hong Kong. Among them are Allianz, Zurich Insurance, AmAssurance, Sompo Japan, RHB Bank, Al-Rajhi Bank, Public Mutual and Affin Hwang Capital.

- Has a 5-year contract with Great Eastern Takaful for mySalam portal

- Links JPJ and insurance companies electronically via the Reward Link Gateway System.

- Business is somewhat “recession-proof”. While most businesses faced a sharp decline in financial performance during the second quarter of 2020 due to MCO, Rexit’s net profit surged by 33% y-o-y on the back of a 14% y-o-y increase in revenue.

- In FY2020, despite all the market challenges, Rexit enjoyed a 37% net profit margin, which was an increase from 34.7% in FY2019.

- ROE was solid at 24%.

- Asset-light business with the value of property, plant and equipment only accounting for 10% of its total assets.

Growth intact moving forward

1. Rexit has strong growth potential in the e-government space, having developed and operated the mySalam portal. Its business model and expertise in the IT field can be easily replicated to deliver more online public services as the Government accelerates its IT adoption.

2. Rexit’s e-Cover product offering puts the company on the right track to capturing market opportunities in the booming e-commerce segment. The stronger adoption of e-commerce by businesses as a result of the COVID-19 pandemic is undeniably a boon for Rexit.

3. Most importantly, Rexit is well positioned in the ever-growing insurance and financial services industries. Growing population and the increased awareness for insurance and risk protection will definitely be an organic growth catalyst for Rexit.

4. The company’s R&D operations in China will help it to easily capture growing market opportunities, by enabling it to mobilise resources across the region for any upcoming projects.

5. With zero debt and a significant cash pile as major support, Rexit is also well positioned to undertake mergers and acquisitions for inorganic growth moving forward.

Read more here:
09/11/2020 10:58 AM
sense maker Insurance industry is very competitive nowadays.
09/11/2020 11:19 AM
Kon Lim Chai Small paid up capital, may offer bonus issue apart higher dividend in view of record profit last financial year
09/11/2020 6:37 PM
chesslim Bonus issue or Special Dividend will coming.
13/11/2020 12:22 AM
flyingtomoon2020 Rexit gogogo
13/11/2020 3:37 AM
flyingtomoon2020 Post removed. Why?
13/11/2020 3:38 AM
properinvest1122 rexit going to rm 1for sure
18/11/2020 1:05 AM
Lyo82 impressive result and dividend..
18/11/2020 6:57 PM
chesslim Gap up tmr !!
18/11/2020 8:14 PM
AlgoQuant Latest Quarter Results (Sept 2020)

Cash - 19 mil
Investment in quoted funds - 18 mil
Zero Debt
Net cash and equivalents = 37 mil

Market Capitalisation - 172 mil
Market Cap excluding cash = 135 mil
TTM/T4Q profits = 10mil

Ex-cash PE 13.5

Profit Growth FY20 vs FY19 > 20%. This is a growth company

Rexit is Software as a Service (SaaS) provider to the financial industry, a true Technology company

Technology sector PE > 50

Target Price:
PE 30 = 1.8
PE 40 = 2.3
PE 50 = 2.8
19/11/2020 3:15 PM
Luckup Ada chance limit up tak?
20/11/2020 7:06 AM

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