JAKS Resources’ (JAKS) 1QFY19 came in stronger at RM28.6m (+60.7% YoY) from net loss recorded a quarter ago primarily from higher than expected billings from its Vietnam EPC contract. Stripping out one-off RM19.7m of long term incentive plan (LTIP) charge out, the first quarter net profit is estimated to be c.RM48.3m, surpassing both our and consensus expectations at c.72% and c.55% of the full year profit forecast. The earning surprise was due to higher than expected progress recorded for its Vietnam EPC contract which is said to have hit 63% project completion, up from 46% done in 4QFY18. As such, we revised our FY19 upward by 68% after imputing higher billings from its EPC project. Although the EPC contract appears to have picked up speed, we are still wary over the various dilutive effect of equity fund raisings done so far and the poor execution especially on its property business. All told, we remain Neutral on the stock with our TP of RM0.75 (pegged at 50% to SOTP) unchanged for now pending completion of the latest private placement exercise.
Source: PublicInvest Research - 10 May 2019
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Created by PublicInvest | Aug 12, 2024
If apply this formula to E&O so must sell bec PBB say hold?
Posted by ks55 > May 12, 2019 11:58 AM | Report Abuse
Very simple, when Public Anal-list says Buy, you hold.
When shim says hold, you better sell quickly.
Only when shim say sell, you must get ready to buy.
Proven right again and again........
2019-05-12 12:52
ks55
Very simple, when Public Anal-list says Buy, you hold.
When shim says hold, you better sell quickly.
Only when shim say sell, you must get ready to buy.
Proven right again and again........
2019-05-12 11:58