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(Icon) IQ Group - Beneficiary of Weak Ringgit

Publish date: Tue, 30 Dec 2014, 11:31 AM
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I follow the smell of money.




IQ Group is principally involved in manufacturing of infrared sensors, motion sensors activated lighting, electronic door chimes and wireless video communication products, etc. IQ also holds 51% equity interest in a subsidiary that manufactures LED products.


Its products are mainly exported to Europe, US, Japan and South East Asia.


IQ Group's factories are located at Penang and China.


With the bulk of its products exported, IQ is a beneficiary of weak Ringgit.


As at to date, the company has market cap of RM132 mil (based on 85 million shares and RM1.55).


In first half of this financial year, the group reported net profit of RM13.8 million (RM7.5 million and RM6.3 million for Q1 and Q2 respectively).


If they can sustain the earnings, annualized net profit will be RM27.6 million. At current price, forward PER is 4.8 times only.


The group has strong balance sheet (net assets of RM112 million, zero loan and cash of RM17.6 million). PBR is 1.2 times.


The Company declared an interim dividend of 4 sen per share recently. 


Have a nice day.



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