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Overview
Financial Highlight
Headlines
Business Background Kumpulan Powernet Bhd is an investment holding company. The company, through its subsidiaries, is engaged in the manufacturing of warp-knitted fabrics. The company’s operating segments are as follows: Manufacturing, Trading and, Investment. The Manufacturing segment is engaged in the manufacturing and sale of warp-knitted fabrics, clips, hook and eye fitting, hook and eye tape machines. The Trading segment is involved in the trading of lingerie materials and accessories; and Investment segment deal with property investment and investment holding. Geographically, Asia Pacific Region is the largest contributor to the company revenue.
  Calvin84ng We maintain our forecasts and our fair value (FV) of RM2.31 based on 18x fully-diluted FY23F EPS. This is at a discount to the average forward 20x PE of leading renewable energy players globally to reflect: (1) KPower being a relatively new player in this space; and (2) its relatively small market value. On a positive side, from a relatively low base, the growth potential of KPower’s earnings is tremendous at >100% and >40% in FY21 and FY22F respectively based on our projections. There is no adjustment to our FV for ESG based on our 3-star rating (Exhibit 2). Since our downgrade on 29 Jan 2021, KPower’s share price has retraced by about 25%. We upgrade the stock to BUY from HOLD as value has emerged. We expect more contract award announcements in the renewable energy infrastructure space, especially in Southeast Asia and the Middle East in the coming months. This is because business is gradually returning to normal (on the back of the vaccine rollout) and project owners wrapping up their tender evaluations. As such, there could be good news to KPower with an outstanding tender book of RM3.9bil of which about 75% are energy-related jobs (i.e. hydropower plants and solarrelated jobs), while the balance are utilities-related works. A pick-up in job wins also means KPower is on track to meet our assumption for annual job wins of RM1.4bil in FY21–23F (June). Our assumption is more conservative compared with KPower’s guidance for RM2.0bil in FY21F. YTD in FY21F, KPower has secured new jobs worth RM703.6mil. At present, its outstanding construction order book stands at about RM1.7bil. We continue to like KPower for: (1) the bright prospects of renewable energy, underpinned by the global trends towards clean and sustainable energy and carbon neutrality to combat climate change; and (2) its strong earnings visibility and growth potential underpinned by its RM1.7bil order backlog on green utility projects, coupled with a massive tender book of RM3.9bil. At less than 16x FY23F earnings, we believe that this homegrown renewable energy player remains a compelling investment case given its involvement in the green sector where the growth trajectory is just beginning. 14/04/2021 1:57 PM Newbieinshare yes buycall... Ansonliew not too late to throw ur jaks ticket and join kpower boat 14/04/2021 3:10 PM Newbieinshare at least i know kpower management team is good. Jaks good company but manage by lousy company. even KoonYY also kena conned by jaks.... stock pionner also can kena conned by jaks management team apalagi newbie ancientliew 14/04/2021 3:11 PM AnsonLiew aiya walao someone say t2 can up wo really laugh 9 die me hahahahahahahaha 14/04/2021 4:56 PM  Yu_and_Mee Anyone saw Anson Liew FB? Please don't punch him when you see his face because he is cute as his statements. 14/04/2021 5:18 PM Alien123 When Kpower drop a bit Animal anson will come out to speak animal language 14/04/2021 5:28 PM TeeJian I was in this forum last month. After I got the profit I caw. What I don't understand is. Why Ansonliew is still in here? Everyday talking shit. I thought you loss RM5000 and hate this stock. Why don't invest in other stock and stop being toxic. You really love Karim yaa Ansonliew. I park my fund in SCIB at 1.7 last week. 14/04/2021 5:36 PM TeeJian My advice to you Anson. If you want to invest or trade, find the best entry price and relax. 14/04/2021 5:37 PM Newbieinshare haha he did invest in other stock. he cutloss scib and park his money in jaks and now losing money in his miss jaks 14/04/2021 5:45 PM AnsonLiew close below rm2 very bad very bearish base on my experience i can tell will down to rm1.5within 2 week good luck 14/04/2021 6:17 PM Alien123 @ animal anson Ur animal language can’t influence human being thinking Animal like u is eating shit character 14/04/2021 7:39 PM LexterHOO AnsonLiew, don't everyday post negative thought, later depression. Be happy, and positive.. If you found this stock no worth buying. You just go away from this stock, don't make yourself haunt by negative thought everyday.. No worth it. 14/04/2021 9:42 PM hantamking AnsonLiew fund people lai la , always spead fake new , then he silent silent buy kpower . aboh mana ada orang makan terlalu senang always come kpower kapsiao 14/04/2021 10:06 PM hantamking New research from aminvest ^^ listen to bank group better ^^ https://klse.i3investor.com/blogs/AmInvestResearch/2021-04-14-story-h1... buy and hold kpower , buy for longterm 14/04/2021 10:13 PM power88 行家建议： 威立集团参与竞标的合约价值高达39亿令吉，其中75%为再生能源相关合约；我们预料未来数个月内，该集团将陆续宣布在东南亚和中东地区获得的工程合约。 这可让威立集团迈向我们给出的本财年获得14亿令吉新合约的预期。 威立集团本财年（截至6月底）的目标，是拿下20亿令吉合约；财年至今，已拿下7亿360万令吉的合约。 目前，该集团手持的未完成合约高达17亿令吉。 我们继续看好威立集团，主要是因为再生能源业务拥有光明的前景；以及强劲的手持合约及竞标合约总数，让其盈利前景是清晰的。 作为小型再生能源业者，我们预计威立集团本财年拥有超过100%的增长潜力，2022财年也可能增长超过40%。 继续给予2.31令吉目标价，考虑到股价已大幅回调，因此上修评级至“买入 15/04/2021 7:05 AM SHQuah https://www.thestar.com.my/business/business-news/2021/04/15/kpower-seen-to-secure-more-contracts-ahead 15/04/2021 12:36 PM willrancid now many market researcher predict.. kpower can go high... anyway anson liew is legend here.. 15/04/2021 3:29 PM lianhai1996 it should be like that the chart because the ma resistance need s shape to rebounce 15/04/2021 3:48 PM hantamking Today 80% counter drop, but Kpower go up & stable !!!! Proven strong already ^^ 15/04/2021 6:42 PM Newbieinshare Ansonliew. Very soon ur dear miss jaks will go to 0.55 Then 0.5 to meet u 16/04/2021 9:14 AM  fisherman11 What is your source @Newbieinshare ? I am unable to find any articles on Kenanga's buy call. 16/04/2021 10:25 AM  | |
