KLSE: N2N (0108)       N2N CONNECT BHD ACE : Technology
Last Price Today's Change   Day's Range   Trading Volume
0.785   -0.005 (0.63%)  0.785 - 0.80  2,016,100
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Market Cap: 469 Million
NOSH: 598 Million
Avg Volume (4 weeks):2,245,442
4 Weeks Range:0.775 - 0.88
4 Weeks Price Volatility (%):
52 Weeks Range:0.35 - 0.905
52 Weeks Price Volatility (%):
Average Price Target: 0.76
Price Target Upside/Downside: -0.025
Stamp duty exempted for year 2020

Financial Highlight

Latest Quarter | Ann. Date 31-Mar-2020 [#1]  |  28-May-2020
Next QR | Est. Ann. Date: 30-Jun-2020  |  21-Aug-2020
T4Q P/E | EY: 33.88  |  2.95%
T4Q DY | Payout %: 3.48%  |  117.96%
T4Q NAPS | P/NAPS: 0.4228  |  1.86
T4Q NP Margin | ROE: 12.91%  |  5.48%


Date Subject
02-Jun-2020 Stocks Radar- N2N Connect (0108)
29-May-2020 N2N Connect Berhad- 1QFY20 Results In-Line
22-May-2020 N2N: Online Trading Platform. The more you gamble online, they earn more. Introducing N2N
18-May-2020 10BIL SHARES TRADED BENEFICIARIES - EFORCE (200% to 5-year high) & N2N (58% to 5-year high)
08-Apr-2020 N2N Connect Berhad - Business Largely Intact Amid COVID-19 Pandemic
30-Mar-2020 竟然有公司敢在这个骨节眼上派股息?
02-Mar-2020 N2N Connect Berhad - Lower-Than-Expected Margins in 4QFY1
13-Jan-2020 Stocks on Radar - N2N Connect (0108)
19-Dec-2019 N2N Connect Berhad (KLSE) #RTable - CashRich Series - YAPSS
21-Nov-2019 N2N Connect Berhad - Higher-Than-Expected Margins in 3QFY19
19-Sep-2019 【视频】联圣 交易手续费续承压
18-Sep-2019 N2N-Connect - 2H to improve with Asia Trading Hub launch
22-Aug-2019 N2N Connect Berhad - 1HFY19: Earnings Missed on Weak Margins
22-Aug-2019 N2N Connect - Recurring Income Hinges on Equity Market Performance

Business Background

N2N Connect Bhd is an investment holding company. It is engaged in the research and development of software packages. It also offers design, programming, and consultancy services. The company markets enterprise-wide integrated e-commerce securities trading solutions to local stock broking firms and banks. Its products include TCProGlobal, TCPlus, TCMobile, TCMarket Maker, TCPair, and TCBOS and services range from online trading portals within the stock broking industry, hosting and managing network services, to wealth and risk management solutions. It generates the majority of the revenue from Malaysia.
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  5 people like this.
Value888 Have to leave behind this counter for awhile, shareholder disposing. Moved to add Eforce.
03/07/2020 8:25 AM
dlau8899 Going up 0.90 as soon
03/07/2020 4:55 PM
Mazhar3192 Sikit lg mauuu naik
03/07/2020 5:49 PM
moneyfind Monday might up and meet 0.845 but not sure will it retest back 0.9.
04/07/2020 5:35 PM
陈田丰 So confident? Moneyfind
04/07/2020 6:43 PM
Speed123 Belum tiba masa lagi .. beware of Dow Jones . Covid-19 in America is increasing ..
05/07/2020 9:35 AM
Mazhar3192 Oraittt...
06/07/2020 8:56 AM
ikanbilishehe when fly
07/07/2020 10:52 AM
vince8595 when SBI will stop selling?
07/07/2020 11:28 AM
Mazhar3192 Collect..throw..fly
07/07/2020 2:04 PM
Speed123 haha. the day SBI stop selling will be the day n2n fly.
07/07/2020 2:21 PM
Mazhar3192 Tommolo maybe
08/07/2020 11:16 PM
Speed123 anytime
09/07/2020 9:23 AM
wakarimas sbi pls stop selling, kacau betul!
09/07/2020 11:28 AM
Speed123 Should be Red today
10/07/2020 9:13 AM
maggigoreng wow tp and moving to eforce, that one still lagging behind
10/07/2020 9:27 AM
Mazhar3192 Hehehhe...88sen..up slow..slow
11/07/2020 4:01 PM
mf SBI HOLDINGS, INC (a substantial shareholder) disposed 1,185,000 shares on 09-Jul-2020.
11/07/2020 4:03 PM
Mazhar3192 New board buy back lor...
12/07/2020 7:06 PM
Booyeah if go main board, funds will buy in. look at bursa. more ppl trade they benefit more.
13/07/2020 12:22 AM
amateurJR Please drop below RM0.8 la.
13/07/2020 1:08 PM
Mazhar3192 Hhehhehhe..
13/07/2020 3:25 PM
Speed123 Oii . Don't lansi la. . Haha
13/07/2020 10:53 PM
Lamshuntee When will n2n change to main board ?
13/07/2020 10:54 PM
amateurJR faster drop below 0.8. Earn one more round
14/07/2020 7:30 PM
Speed123 anytime soon
15/07/2020 10:03 AM
amateurJR Please drop below 0.8
15/07/2020 12:34 PM
amateurJR Please drop below 0.8 la
16/07/2020 11:07 AM
alexlee06037 When change to main board 0.8 consider cheap, parking
At 0.79 and 0.80
19/07/2020 2:07 PM
amateurJR Shareholder keeps disposing shares. Lol
20/07/2020 11:45 AM
alexlee06037 when shareholder stop disposing it gonna fly to 1.0
20/07/2020 12:53 PM
chickenriceseller i short this stock if i could, hopeless platform
20/07/2020 4:44 PM
Speed123 anytime soon..
22/07/2020 10:53 AM
Speed123 final round to collect. .
24/07/2020 9:25 AM
PomPomShip 0.78 already... happy now?
24/07/2020 5:57 PM
ashmira SBI will keep selling until they disposed all their shares. Don't know how much they got.
26/07/2020 5:35 PM
Value888 Will fly soon. Eforce already flew.
27/07/2020 10:58 AM
Sebastian Power just a matter of time transfer to main board. Then rocket!!!!!!!!!
27/07/2020 3:03 PM
UndukNgadau https://www.theedgemarkets.com/article/mpay-forms-jv-singapore-venture-capital-firm-tap-digital-banking?type=malaysia
28/07/2020 6:22 AM
UndukNgadau Others already started to prepare for "participate in digital banking in Malaysia". N2N need to see the urgency. Cannot totally reliant on just trading platform
28/07/2020 6:24 AM
Booyeah N2n connect
Simple explanation
1. Business - recession proof and during good times they make money too.
How their business works.
a) they are an online trading platform for capital markets. hongkong and Malaysia is the largest markets for n2n (70% and 40% respectively). The company make money when volume of trading increases. They earn a cut from the volume itself. In short, nowadays, regardless of placing an order through online or a broker, it will go through this platform. There are only two trading platform in Malaysia. One is eforce and another is n2n.

Business prospect. (I guess this is always a why should I buy)
- expansion in 2018. They acquire AFE solutions from Thomson Reuters. The strategy if acquiring this business is to expand their trading online platform in hongkong. Which they see it has successfully achieved 300% improvement in it's core profits.
- secondly, new investors invested in n2n. Which includes one of the most reputable and largest platform in Japan (sbi holdings). It bought n2n at 1.40 per share from the Andrew tiang (managing director).

Next question. (What's next)
- the company is stepping effort to complete it's Asia Trading Hub (ATB) to promote and enhance seamless cross border trading.
- in addition they want to tap on sbi ( new investors ) capability to venture in Blockchain technology. Take note they are not investing but more towards providing a platform and earning base on the transactions volume.

Now.. at minimum I guess we need to look at some simple financial instead of focusing on dcf, etc. Which honestly, it's not really important.

1) revenue - 2014 (34mil) and 2019 (105mil). There is not a single drop in revenue from 2014 to 2019. Tbh. I personally like revenue instead of looking at profit.
2) profit margin - approximately 10% average. Well maybe consider average.
3) cash - Net cash position. Alot of investors use cash - borrowings to consider net cash. To me, I am Abit more conservative. I take cash minus all liabilities (I mean in the end liabilities are liabilities. You will still need to pay them of regardless of accounts payable,etc.) They have around 120 million cash (including liquid securities) and total liability of 47 million. Which give them 73 million net cash.
4) pe ratio - not that convincing for many investors. Even to me. But ultimately, peg is more important.. what's their forward pe. Giving most conservative of earning 50 earning per share for one year and a forward pe of 15 would give us 75 cents ( 36% margin of safety). But when economy recovers again, their earning and pe should be given a higher valuation. Look at Penta, eforce, even at this unprecedented scenario, they are trading at 20/30 times.
5) % of cash and securities over asset is around 40%. Believe it or not, it's the largest asset component by proportion. In bursa, it would be hard or even tough to find such company. They are basically asset light and cash rich asset model. Basically one of my main criteria in investing.

The downside of course will be sbi investors pulling out their initial investment, and lower trading volumes due to uncertainties.
28/07/2020 10:50 AM
UndukNgadau Wow. Thank you Booyeah
28/07/2020 11:39 PM
skyea with all the investing courses on facebook nowadays, the number of retailers will just keep growing year on year. the long term trend is up
29/07/2020 4:42 PM
amateurJR Looks like SBI will pull out investment from N2N. Then N2N will announce its merger & acquisition with a suprise company. Haha!
30/07/2020 10:46 AM
happynl I am holding some, still supported by 0.775 hopefully it dont drop below it.
01/08/2020 10:45 PM
UndukNgadau The Japanese(currently 15.322% holding) will keep on selling till zero. As the Japs have totally loss of confidence in Andrew Tiang. So we just have to keep our faith in N2N & Tiang's vision moving forward. Share $ will keep falling. Hopefully to 0.740 the next 2 days, so that I can buy more
02/08/2020 1:09 PM
Speed123 hahaha.. loss of confidence ..
u think sbi like ur grandfather punya kedai runcit meh ....
03/08/2020 8:49 AM
amateurJR Unduk N2N wont fall below to 0.74.
03/08/2020 10:50 AM
UndukNgadau 3rd September 2018, the Japs bought at RM1.10. Come 2020, disposed at a massive loss.
03/08/2020 11:45 AM
dayTrader188 https://www.securities.io/sbi-holdings-acquires-10-stake-from-nomura-holdings-in-digital-securities-platform-boostry/
03/08/2020 5:13 PM

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