Is Dnex still a good buy ????
DNEX something to think about ???/
On 13.01.2017; Dnex indirect 51% - owned subsidiary DNex RFID Sdn Bhd has clinched a RM104.3 mil subcontract t operate and manage the road charges and vehicle entry permits (VEP) system for five years. This involved foreign registered vehicles entering Malaysia via Johor, namely Kompleks Sultan Abu Bakar in Tanjung Kupang and Bangunan Sultan Iskandar in Johor Baru.
Note 1 : The contract above worth RM104.3 mil only involved Singapore registered vehicles entering Malaysia. (One way only)
On 13.02.2017. Dagang NeXchange Bhd's (Dnex) 51% - owned sunsidiary Dnex RFID Sdn Bhd has been appointed as the exclusive project consultant by TIFFA EDI Services Co Ltd for the road charge vehicle entry permit (RC VEP) system at the Thailand - Malaysia border and any other borders to Thailand.
Note 2 : The contract given by Thailand company only for Thailand Border to Malaysia not Malaysia to Thaialnd border. - Malaysia Border to Thailand not given yet by Malaysia Government. The contract given by the Thailand company at the moment only involved consultant service, not operate and manage the road charges. (same as Malaysia - Singapore contract - Consultant and operation - 2 contacts)
Note 3 : The contract for Singapore registered vehicles entering Malaysia worth RM104.3 which only involved 2 Border post. What do you think the Thailand - Malaysia worth ?
Malaysia Thailand
| No. | Border post Malaysia |
No. 1 |
Border post Thaialnd |
| 1 | Wang Kelian | 1 | Wang Prachan |
| 2 | Padang Besar | 2 | Padang Besar |
| 3 | Bukit Kayu Hitam | 3 | Sadao (at Ban Danok) |
| 4 | Kota Putra (Durian Burung) | 4 | Ban Prakop |
| 5 | Bukit Berapit - Pengkalan Hulu | 5 | Betong |
| 6 | Bukit Bunga | 6 | Buketa |
| 7 | Rantau Pamjang | 7 | Sungai Kolok |
Total 14 Border post - Malaysia to Thaialnd via Thailand to Malaysa ( If Dnex get both of the operation contracts from Malaysia and Thaialnd Government).Since Dnex already get the contract for singapore registered vehicles entering Malaysia and acting as project consultant for Thaniland Company. Don't you think is only matter of time they will get both from Malaysia and Thailand authority ?
Note 4 : Don't forget Other Border which connect to Thailand. -ps - Dnex already been awarded the consultant service by thialand. The contract did mention other borders that connect to Thailand.
Note 5 : How does Dnex charges for the operation services ???? If is charge according to Vechiles per entry. Don't you think that there are more vechiles cross border between Malaysia and Thaialnd and thnailand to other Asean countries then Singapore Registered to Maaysia ? $$$$$$$$$$$$
Note 6 : RHB and TA recommend - TP price - RM0.70 . What is the price now ??????????? - RM 0.58. (Have They included those possibility of the operation contract between Thailand border to other countries ?)
MYEG today worth Rm2.18, P/E 40.71 - Par value -0.1 . Capital -7.861 M. Shares 3,606,000,000. Since Dnex also a monopoly business for rod charges and vehicle entry permits (VEP) system. What is Dnex worth ?
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Discussions
Be the first to like this. Showing 15 of 15 comments
For me, Thailand project is a good sign for Dnex. It show Dnex management do not just depend on Malaysia market.
2017-06-11 14:53
TP 0.7
The stock has been bounded in a range.
The upper bound for the range is 0.63.
The upper bound for the range is 0.55.
I think the stock will need a new catalyst to break the range.
2017-06-11 19:44
The stock consolidated due to the above info, so don't try to buy the stock for the above info. In other words, the above info has been priced in.
2017-06-11 19:49
56sen already fair price or it could slide a bit more.
When they set a TP of 70sen....56sen is the most investor willing to pay..i.e. 20% upside is incentives for risk taker who willing to buy at this level.....don't think you want to buy at 70sen because you have to find punter who think this stock can go beyond current TP...at least 90sen.
This TP already consider the above factor and valuation are made base on price of oil at USD53 - USD63 for (17,18,19) and exchange rate of USD4.25 The current outlook on Oil and USD are not favourable.
Further risk are none renewal of NSW project. VEP contract actually are not that big...one off RM104M project spread over 5yrs...
TP 70sen already considered Thailand project...which I think it shouldn't (without details of project i.e. potential, position, partner strength, political strength with Thailand government etc). .....
Currently thousand if not hundreds company in bursa are working hard everyday to sell, deals, tenders, wip, in pipe line etc.....waiting their potential contract to be award....and nobody give their valuation base on future potential awards....at least not in infancy stages and without details....
2017-06-12 01:19
Correction Spore cars coming to msia is much more than thai cars coming to msia loh....!!
Anyhow getting the thai contract is good for dnex....but the impact will be less compare to current spore-jb vehicle crossing loh...!!
2017-06-12 12:05
whatever factored in to current price is irrelevant,none of us can predict the future EPS- when and how much revenue will thai border's vep brings to Dnex? Dnex has plan to expand into energy sector-generator in Indonesia in second half of 2017. How the current price factored in?
2017-06-12 14:12
VEP and RC between Spore and Mal; Dnex only in charge Mal part.
VEP and RC between Thai and Mal; Perhaps Dnex will in charge Thai and Mal both parts.
But we are not 100% sure; Dnex had partnership with TIFFA for Thai, perhaps also going to JV a local company for Mal borders.
Spore have around 1500 vehicles cross Mal borders. For Thai, I remember our minister ever told have 1000 vehicles crossing everyday.
If Dnex in charge both side, it is more then spore between Mal.
2017-06-12 15:14
STILL THIS STOCKRAIDER COCK-TALKER DARE TO CONTINUE HIS SMALL COCK STORIES PREACHING? ALREADY LOSE 9 MILES IN EVERGREEN.
2017-06-13 10:01
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These are the great potentials. The chances to win those projects are very high. Maybe through JV. Without factor in these projects, it already worth 0.70 above. Thanks for sharing.
2017-06-11 10:55