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Date : 19 January 2023
SOUTHERN CABLE GROUP BERHAD
Southern Cable Group Berhad manufactures and sells cables and wires in Malaysia and internationally. The company offers cables and wires for power distribution and transmission, communications, and control and instrumentation applications. It also manufactures copper and aluminum rods, plastic compounds, and wooden cable drums; trades in cables and wires, and copper strips; and supplies and installs rectifiers.
Southern Cable Group Berhad
Southern Cable Sdn Bhd
Nextol Polymer Sdn Bhd
Daya Forwarding Sdn Bhd
MY KEYNOTES :
- Group seen increasing orders for cables and wires from key sectors such as such as power, renewable energy, telecommunication, construction and infrastructure.
- Order book in hand MYR750 million to be fulfilled till 2024.
- Robust order in US Market by supplying RM12m worth of cables.
- Optimistic order from US, expects RM100m worth of cable sales for incoming Q4 FY22.
- Group constructing a new plastic compound plant to increase its annual capacity.
- Forecast estimated at RM500 million and RM700 million for FY23 and FY24.
Reason : Undervalue
IPO PX : 0.34 sen
Fair Value : 0.55 sen
My Target Price : 0.50 sen & 0.80 sen
Warrant : SCGBHD-WA : 0.20++ sen (min)
My 2c view.
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