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Overview
Financial Highlight
Headlines
Business Background Asia Knight Bhd is an investment holding company, mainly involved in the manufacturing of moulded plastic products through its wholly-owned subsidiary. The manufacturing of moulded plastic products is the core business of the group, which accounts for the majority of revenue. In addition, the group is also involved in the hotel operation and other various activities. The activities of the group are carried out mainly in Malaysia.
  Follower cHANGE NAME: AKNIGHT TO RGTBHD..However, the PN17 status remain unchanged. 29/12/2018 09:15 commonsense The potential delisting of Perisai next month shows the risk of investing in a PN17 company. For RGT Berhad (previously known as Asia Knight) the reason for the company to fall into PN17 is not the same as Perisai. It did not fall into PN17 due to shareholders funds falling below 25% of paid up capital but because of its auditors has express disclaimer opinions on the company’s audited account of FY2014. For me this is worse than Perisai since investors cannot be sure if the numbers reported by the company are actually true or not. That being said, the company was fast with coming up with a regulation plan of which was successfully implemented last year. The regulation plan for this company evolve around Asia Knight acquiring a 60% interest in Rapid Growth Technology (hence why the name change) for RM48mil which was funded via last year’s right issue exercise. With this acquisition it is expected that RGT would most probably be lifted from the PN17 status in FY19. Hopefully this time, the auditors would not find any major concerns on the accounting treatment of the company’s books. Based on the 2 most recent quarterly report (1Q19 & 4Q18) the company now can achieve a profit to shareholder ranging around RM1-1.2mil per quarter. Assuming they can manage to deliver a profit of RM6mil to shareholder (average profit for 1, 2 & 3Q19 needs to be RM1.6m), at the current price the company is already valued at 17.3x PE. If you include the warrants (since it is already in the money), that would mean that the valuation would actually go up to more than 20x PE which is high considering the current market environment. The company’s current balance sheet looks healthy with the company currently having a net cash position of RM20.6mil. The company has an NTA of RM40mil or 7 sens per share. At the current share price, the company is currently trading at a PB valuation of 2.6x. If you are looking to diversify your portfolio outside of RGT (due to its rich valuation) I would recommend you to look at MBMR. MBMR is a direct proxy to Perodua via its 22.6% interest in the company. Valuation is cheap at only 6.5x PE (based on target FY18 PATAMI of RM145mil. 9m PATAMI is already RM106mil). PB is low at only 0.6x BV. 4Q18 results is expected to be higher than 3Q18 and last year's 4Q17. For FY19 growth will be driven by the still high demand of new Myvi and the newly launched SUV and also the new Alza in 2H19. Please go through the analyst reports (https://klse.i3investor.com/servlets/stk/pt/5983.jsp) and do your own analysis before making any decisions. Most analysts have a TP of above RM3 for the company with Hong Leong being the lowest at RM3.13 and Maybank the highest at RM4.50. Good luck. 15/01/2019 06:19 Follower Mr. Commonsense..You seems to be advertising the counter MBMR...I presume you must be holding a lot of the shares..can share what is your entry price. 15/01/2019 09:29  Joseph hmm so this means this counter most likely wont suffer same fate as perisai? 15/01/2019 09:33 SureWin1Woh Can sense some accumulation now. Most probably due to good upcoming QR, and eventual upliftment from PN17. 15/01/2019 14:42 SureWin1Woh If QR no good, insider would not accumulate shares at this point in time 15/01/2019 14:43 SureWin1Woh #billionn: Yes, now this fella is in accumulation stage judging from the recent volume transacted. Will explode after QR 02/02/2019 18:35 Kenny Q report will out at end of Feb. Sure got good profit. The revenue and profit are very stable. 08/02/2019 22:23 azlan88 looks like accumulation is almost done. the rest is sapu by individual investors. Bright future from earning growth from injection of RGT group. 09/02/2019 16:19 billionn Aiyo dun cross la every time when ppl said said finger crossed means mampus lor better run now 11/02/2019 00:18 Follower Wow..billionn..you are amazing..game over also you know..no wonder you are a billionass. 11/02/2019 12:22 ChartMaster There is a seller keep throwing 2 to 3k most of the time . hard to break 215 now 13/02/2019 12:26 FullTime Before Q result out ,RGT need to show the q result to bursa and to apply lifting of pn17 . together with lifting pn 17 , only they will announce their q result next week. 13/02/2019 12:45 PN17player depend whether this Q got profit or not, if this Q got profit , surely will exit pn17 this two weeks. if no profit, then cant . 19/02/2019 10:49 The_Reds based on last 2 quarter reports and the chart movement..u edy know the answer 19/02/2019 11:07 PN17player but why got one donkey keep blocking at 22 cents , each time selling 2k to 5k. 19/02/2019 11:11  |
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