KLSE: FRONTKN (0128)       FRONTKEN CORP BHD MAIN : Technology
Last Price Today's Change   Day's Range   Trading Volume
1.35   -0.02 (1.46%)  1.35 - 1.39  4,218,400
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Recent Prices

Date Open Range Close Change Volume
14/06/2019 1.43 1.37 - 1.44 1.37 -0.06 (4.20%) 5,857,200
13/06/2019 1.38 1.36 - 1.44 1.43 +0.05 (3.62%) 9,030,000
12/06/2019 1.36 1.35 - 1.40 1.38 +0.02 (1.47%) 8,408,200
11/06/2019 1.36 1.33 - 1.40 1.36 +0.01 (0.74%) 10,798,800
10/06/2019 1.28 1.28 - 1.35 1.35 +0.09 (7.14%) 10,625,200
07/06/2019 1.30 1.26 - 1.30 1.26 -0.02 (1.56%) 5,270,000
04/06/2019 1.26 1.26 - 1.29 1.28 0.00 (0.00%) 1,240,800
03/06/2019 1.26 1.25 - 1.29 1.28 +0.02 (1.59%) 7,303,300
31/05/2019 1.29 1.26 - 1.33 1.26 -0.03 (2.33%) 8,201,800
30/05/2019 1.27 1.26 - 1.32 1.29 +0.02 (1.57%) 3,579,200
29/05/2019 1.28 1.26 - 1.32 1.27 -0.01 (0.78%) 5,623,800
28/05/2019 1.25 1.25 - 1.31 1.28 +0.02 (1.59%) 5,398,000
27/05/2019 1.30 1.24 - 1.31 1.26 -0.03 (2.33%) 6,410,600
24/05/2019 1.26 1.25 - 1.31 1.29 +0.02 (1.57%) 10,660,800
23/05/2019 1.32 1.26 - 1.34 1.27 -0.07 (5.22%) 11,897,500
21/05/2019 1.39 1.32 - 1.39 1.34 -0.08 (5.63%) 19,222,600
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  47 people like this.
DickyMe Already disposed this stock @1.40. Will wait until world politics and economy tussles calm down. Meanwhile, nothing great happening in market until the end of year. This stock will tempt investors but the decline will be fast. Up 1 down 3..pattern.
27/05/2019 10:36 AM
Veron_teo please avoid. frontkn gonnna earn leas
27/05/2019 10:54 AM
Hanzo From technology and regulation stand point there's no problem at all with Frontken.

TSMC still Huawei provider plus the gap left by Huawei in global market will be fill up with other brands which will use chip from TSMC.

Newer iPhone model also be a good factor for Frontken.

Maybank evaluation was not based on assumption alone, they did make research.

People panic on news and keep selling without actually take deep consideration.
27/05/2019 11:29 AM
Veron_teo lol.. no company will order as much as huawei . don't be naive
27/05/2019 12:27 PM
abn10 Tomorrow will fly to 10.00
27/05/2019 12:42 PM
kelvin fly to 20.
27/05/2019 3:40 PM
abn10 Taipei: Taiwan Semiconductor Manufacturing Company (TSMC) - the world's largest contract chipset maker - has officially announced the beginning of mass production of its second-generation 7nm process for Kirin 985 and or A13 chipsets.
The top-notch Kirin 985 chipset would likely feature in Huawei's flagship Mate 30, while A13 would come with Apple's 2019 iPhones.
"This is the first time the Taiwanese company is implementing EUV lithography, taking a step towards becoming the main competitor of Intel and Samsung," the GSMArena reported on Monday.
The announcement comes days after TSMC said it would continue delivering critical semiconductors to Huawei Technologies even as chip designer ARM has cut ties with the tech giant.
Other firms that will continue shipping products that do not violate US restrictions to Huawei, include Panasonic and Chinese computer maker Lenovo Group.
On May 15, US President Donald Trump effectively banned Huawei with a national security order.
The US publicly asked its allies to steer clear of using Huawei products over concerns that the equipment could be used by the Chinese government to obtain private information
28/05/2019 5:31 AM
Hanzo 7nm is going to be big, target price still 1.80
28/05/2019 4:00 PM
Veron_teo who going to buy the 7NM ????
28/05/2019 5:55 PM
29/05/2019 9:46 AM
Veron_teo they won't buy so much compare huawei
29/05/2019 12:49 PM
newbie8080 Not much impact from Huawei. China's local demand should be able to cover the shortfall as some of those patriotic users will switch from Samsung and Apple to Huawei.

However, overall number of new phones sales for all brands will still drop as customers extend their new phone purchase from 2 years to 3 years.

Thus, will have minor drop in cleaning services from Frontken as jobs from TSMC would drop would also reduced accordingly.
Unlike what Maybank IB mentioned about whether utilisation of 40% or 90% cleaning would still be required.

That may be misleading as TSMC would likely be utilising less equipments for manufacturing chip processors. For example, 50 units equipment to produce 1,000,000 chips at utilisation capacity of 40%, TSMC would use 22 units of equipment to produce the same number of chip processors at 100% utilisation.
29/05/2019 2:32 PM
abn10 Exactly newbie8080. Just collect more the price is undervalued. Or maybe when rsi is oversold. Its normal that market has its own emotion, like the knee jerk decision. Its just because the fear looming around the tech war, but once market realize it doesnt impact significantly, price will start to rise again. Why not collect when low? Why want to buy when high? Frontkn has broght prospect, when its low it means discount. Unless fronken is on the verge of bankruptcy or something really bad happens to them internally. My opinion so far it was just the market uncertainties and this definitely means temporary
29/05/2019 6:43 PM
kelvin abn10, you got read all what newbie said ? hahahahahaha
30/05/2019 8:24 AM
WhiteWolf Anyone there at the AGM today? Can share later what was said? TQ
30/05/2019 11:15 AM
kelvin see the share price can know good or bad ... lol. now green means no bad news
30/05/2019 11:41 AM
ruby20 10 key takeaways from Frontken AGM.

Must read if you own / plan to own the shares.

30/05/2019 4:47 PM
ruby20 From trade war / tech war to cash usage to competitive advantage to 2019 outlook.
30/05/2019 4:47 PM
csliew007 The AGM went straight to the Q&A session. Will bundle them in 10 specific points. Please note that this is a sharing from my own perspective, there might be error on my part.

1. Trade War
Few shareholders asked about tradewar, techwar, delay in the rollout of 5G - they're concerned about the fact that around half of Frontken customer are Taiwan based companies, and that recently there's a downturn in semiconductor companies in Taiwan as well as globally.

CEO answered that so far, they havent seen any impact from trade war just yet, but the future is uncertain. He mentions that Frontken is well diversified with 100 customers, and that their customers are still getting orders from giants such as AMD, Nvidia, IBM. He also doesnt think that this trade / tech war effects long term and is confident that Frontken have a very promising outlook.

2. Cyclical trend
CEO mentions that Frontken is dependant on customer cycle and that their clients tend to have stronger 2nd half which peaks in Q4 as normally new tech products are designed and start manufacturing then. In 2019, 1st half of the year is abit slow from their client. When asked if he sees a stronger cycle this year as compared to last year, He stressed that Frontken is at the FAB level and they haven't seen any slowdown in production.

3. Competitive Advantage
From the Q&A, there's a clear emphasis that Frontken have an edge over their innovation and technology over their peers, and this is down to their R&D team. Next year, Frontken is ready to handle 5nm production, and going to start that commercially in 2020. They're also doing R&D for cleaning for 3nm chips but that's not until 2021 at the earliest. He also emphasize that the market is big enough and is not worried about competition. Lastly there's competitive advantage in their economies of scale, in the sense that they're becoming more efficient and effective from their production than ever before

4. China
When asked about expanding to China, CEO mentions that there's already an indirect exposure to that country via their clients from Taiwan but there's very few direct clients from China. He also mentions that they believe they're superior cleaner than peers in china and that it's a concious decision not to be in China. Geographically it's a challenge to be in China and delivering there. It's a volume game and since their focus is to make money, they might not set up base in China

5. Oil & Gas
Frontken is bullish on the developments in oil & gas sector and its contribution to bottom line. It expects oil and gas industry to contribute about 25% to total revenue in 2019. It highlights that business done in this sector is starting to profit. It was loss making in 2017 but in q1 2019 alone, profit made from this segment make the whole entire profit in 2018.

6. Cash
Frontken has alot of cash and they're consistently on the lookout for M&A to expand tech base. CEO mentions that he's very picky on M&A. Furthermore, he stresses that Frontken been paying out dividend increasingly. There's also no plan to spend big on capex

7. Secret Sauce
Shareholder harry teo asked how issit that they can grow revenue by 20% but only grow cost by 1% - CEO's says he cannot share the answer, indicating there's a "secret sauce" but mentions that costs is contained as there's more efficient processes which yields same result.

8. Focus
This was quite hilarious. When asked what's the goal and focus area in 2019, CEO answers "to make more money"

9. My personal query - earnings growth and Average Selling Price
I asked that the market currently is re-rating the valuation higher for Frontken (trading at 20x PE) and that is relatively high vs peers (TW peers trading around 10-15x) and historically high. With this, there comes a certain expectation - strong ROE, strong competitive advantage and continuous profit growth. My question was that the market & analysts are now expecting about 20-30% growth in earnings - can they deliver that and also whats their negotiation power over their ASP to their end client.

CEO semi-jokingly answers that they are "peerless". He also mentions that as their base number grow in time to come, it might be difficult to hit 20% profit growth - but mentions that 20% is a realistic target and is even aiming higher. However, there're some uncertainties in global market that will be out of his control for this year.

On Average selling price, Frontken is at a business that ASP will always tend to go down - but there's always a pricing roadmap with each client - which is based on volume and stability of process - to sustain earnings.

10. Dymon Asia
A partner from Dymon Asia (hedge fund from Singapore) was in attendance and he's pleased with the performance of Frontken.
30/05/2019 8:51 PM
abn10 Point no. 2. What does it mean at FAB level?
31/05/2019 4:03 AM
abn10 Btw thanks for sharing. May i know, are we invited to the AGM?
31/05/2019 4:04 AM
Veron_teo lol.. if you go attend 10 agm all also will answer you positively.
31/05/2019 5:28 AM
abn10 Thats right veron. So lets all go to veron house to hear negative
31/05/2019 9:56 AM
Veron_teo you see point number 8.
31/05/2019 11:13 AM
acbks technical view on frontkn

31/05/2019 3:47 PM
ruby20 up and up counter
31/05/2019 3:49 PM
upsidedown119 Uptrend again?
01/06/2019 4:49 PM
Veron_teo yes tp 19
02/06/2019 3:47 PM
4444 Nasdaq down 1.51%.
03/06/2019 3:09 AM
upsidedown119 Nasdaq affected by trade war. US chip counters badly affected as China is by far the world's biggest consumer. But Asian chip counters rose. SCIMP went way up. Frontkn to benefit.

Friday's last minute sell-down was due to oil price down. Frontkn has some exposure to O&G sector but not core business.

Asian chip counters are expected to rise.
03/06/2019 9:29 AM
hero_zilong * 。 • ˚ ˚ ˛ ˚ ˛ •
• ˚Selamat★* 。 • ˚ ˚ ˛ ˚ ˛ •
•。★Hari Raya!★ 。* • ˚。
° 。 ° ˛˚˛ * _Π_____*。*˚
˚ ˛ •˛•˚ * /_______/\。˚ ˚ ˛
˚ ˛ •˛• ˚ | 田田 |門 | ˚
04/06/2019 10:14 AM
hero_zilong Jika jiwa sebening air,
maka jangan keruhkan.
Jika hati seputih awan,
jangan mendungkan.
Raih kemenangan dengan saling bermaafan.
Selamat Hari Raya Idul Fitri.
04/06/2019 10:22 AM
hero_zilong “”!J+!J 7!p!e eheJ !JeH fewe7aS
“”u!feq dan J!He7 dvvw uOHOw
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04/06/2019 10:22 AM
upsidedown119 The chart confirms downtrend. Not sure where the bottom is. Stay tuned.
04/06/2019 1:59 PM
upsidedown119 Friday sell-down beginning?
07/06/2019 11:48 AM
kelvin volume shrink a lot. sharks abandon ship already. officialy GG
07/06/2019 11:48 AM
Veron_teo lol. you all still here dreaming? agm is over. every thing is over.
07/06/2019 4:37 PM
PresidentRotiCanai Now frontkn is resting, will boom soon
07/06/2019 11:43 PM
lai81533 Mati Lia0
08/06/2019 9:03 AM
lai81533 202,221
08/06/2019 9:04 AM
Veron_teo warn you all d don't want listen. lol.. next week 1.0
08/06/2019 12:22 PM
NewbieTradingChannel https://klse.i3investor.com/blogs/newbietradingchannel/210036.jsp
09/06/2019 1:34 PM
kelvin Lol what kind of analysis is that.
09/06/2019 1:53 PM
TCapitalGroup https://m.facebook.com/story.php?story_fbid=1267801650065207&id=1000453963466645
10/06/2019 1:31 AM
freddiehero sini boleh jagi mirc2 lol
10/06/2019 9:04 AM
kelvin tcapitalgroup really laugh die me tns ...
10/06/2019 9:19 PM
erichee Tx to Trade war, Tx to Trump
11/06/2019 9:52 AM
Zachs Is time for a rebound... gogogo
12/06/2019 9:47 AM
Veron_teo broad com sink 8% after market close this morning sinking all chipset stock world wide. will be heading to 1.2x again
14/06/2019 5:45 PM
abn10 U are wrong veron. Tomorrow down to 1.0. lol
15/06/2019 1:22 PM


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