会公布新的PROJECT 吗 ？

RGB International– BUY (Jack Goh) • Well-positioned to capture the exponential slot machine growth in ASEAN gaming jurisdictions. The ASEAN gaming scene, especially in the Philippines, remains highly charged with aggressive gaming capacity expansion and post-pandemic replacement cycle. Hence, RGB is poised to largely benefit from this trend. Note that RGB has >70% market share in the Indochina and the Philippines’ slot machines markets. • Sequential years of lucrative earnings base in the making; on track for record-high earnings in 2024. RGB’s sales, support and marketing division is poised to deliver sales of about 4,500 slot machines for 2024 (vs 1,500-1,700 units before the COVID-19 pandemic). Meanwhile, the concession-based technical support and management division has been recovering progressively and is set to recover to 80-90% of 2019’s profitability levels in 2024. Including RM8m-12m in interest income (5% interest on RM160m-246m net cash) and contributions from the engineering services division, RGB is forecasted to achieve a record-high profit of RM113m in 2024. • On cloud nine after securing massive SSM orderbook from PACGOR. At end-May 24, RGB revealed that the group secured a RM383m (US$81.3m) contract from Philippine Amusement and Gaming Corporation (PAGCOR) to supply 1,968 electronic gaming machines and accessories. We believe this is to support PACGOR’s modernisation programme which includes revamping the gaming floor and rolling out new slot machines ahead of the privatisation of its casino operations. We expect these orderbooks to be fulfilled and translated into RGB’s earnings in 2Q-3Q24, which will pave the way for RGB to deliver meaningful qoq earnings growth in the upcoming quarters. • Deep-in-value financial matrixes reaffirm our investment thesis. Despite a >40% ytd
share price rally, RGB’s bargain valuations of 6x 2024F PE (4x ex-cash PE) still offer palatable potential capital upside. More importantly, RGB’s current net cash of about RM185m (27% of market cap) is more than sufficient to support our 40% dividend payout forecasts and lush yields of 7-8% in 2024-25. Should management raise the dividend payout ratio to 50%, prospective yields will likely be 8-10%. • Maintain BUY and target price of RM0.66, which implies 9x 2024F PE (pre-pandemic mean), 4x 2024F ex-cash PE, and 4.5x 2024 EV/EBITDA.

SEttle case

Following the Company's announcements on 28 August 2023, 29 August 2023 and 4 September 2023, the Board of Directors of RGBI wish to inform that the matter in reference to RGB Sdn Bhd and Dato' Seri Chuah Kim Seah with the authority, has been completed and resolved, with no further action on the part of the authority.

市场情绪不好。 看没有路

RESULT OUT.., DIVEDED 0.006

如果股东在低价做外场交易 ， 通常是有其他股东想收购这些票。 相反的如果在高价做外场交易， 那么很大肯能是 股东想抛售一些票换现金。 至于 PESTECH ， 很大肯能性是股东卖出股票给其他潜在投资者。 而且对方和IJM 有点关联。

最近 PESTECH 的交易量 有点像 去年 7月份的 成交量。 2. THEEDGE 也在这个星期报道关于 IJM 接下来的布局。 感觉有一些关联。 看看这个星期PESSTECH 是否可以上 0.28 左右。 如果真的 是 0.28 。 应该是有好消息即将公布。

IJM 全面收购 ？

Related to DATA CENTER ..

最近有点量。。

A new integrated resort by billionaire Enrique Razon's Bloombery Resorts Corp will open in Manila later in 2024, while up to eight more casino projects are being planned, Mr Alejandro Tengco, chairman and chief executive of state regulator Philippine Amusement and Gaming Corporation (Pagcor), said in an interview a

https://theedgemalaysia.com/node/718094

多一个 PROJECT 被 PULL OFF.

9 / 10 号需要 站稳在 0.24 位置 ， 过后 需要在 0.26 。 0.26 位置是非常重要。

今天的交易有点量。。 突破 0.26 就应该有戏看。。

下个星期就 RM 0.50以上。。

RGB 什么时候去THAILAND 开 OFFICE ？

今年去到 RM0,80 可以吗 ？

Final draft of Thai casino entertainment complex bill to be ready in 4 weeks
https://www.thestar.com.my/aseanplus/aseanplus-news/2024/06/19/final-draft-of-thai-casino-entertainment-complex-bill-to-be-ready-in-4-weeks

以上的帖， 是从其他地方 POST 的。

• Favourable industry dynamics driven by the resurgence of the gaming sector post-pandemic and increased demand for gaming facilities.

Strong Financial
• The Company has a cash balance of RM185.5 mil (including other investments) with no bank borrowing on 31 March 2024.

• The cash per share is about 12.04 Sen compared to the net asset of the Company of 17 Sen. The Company has been in net cash position since 2015.

• Strong business cashflow with cash generated from operation for Q1 amounted to RM24.4 mil and for FY 2023 the cash generated from operation was RM123.81 mil.

The booming tourism industry and arrival of tourists is driving up the business of gaming resorts and gaming outlets operators. We understand the gaming industry is back to pre-pandemic level and all operators are operating at optimum capacity and looking at expanding their facilities and upgrading to newer EGM (electronic gaming machine). This demand augurs well for RGB.

The Company business in Philippines (its major market) is going to benefit from new casinos scheduled to open in the next few years as well as from the privatization of 41 casinos by the Philippines Gaming Regulator (PAGCOR). Do take note that on 30 May 2024 the Company had announced its subsidiary in Macau had secured a RM381 mil new order of gaming machines from a new Casino in Philippines for deliveries in FY 2024. RGB International Bhd (“RGB”), a leading casino machine supplier has been in the gaming industry for over 30 years. As international border is now reopened, and casino licenses have been rolling out extensively to boost economy, we believe RGB is poised for a growth in FY2023 and onwards.

Investment Merits
• Group successfully secured a RM381 million contract for a new casino in Philippines to be delivered in FY 2024 which will bolster its profit.

• Exclusive distributor for two main slot machines suppliers (Light & Wonder and Aristocrat) in the Philippines where the company hopes to benefit from the casinos scheduled to open in the next few years as well as from the privatization of 41 casinos by the Philippines gaming regulator (PAGCOR).

• Increasing Gross Profit margin to about 19.4%.

• Strong Balance Sheet with Net Asset per share of 17 Sen

• Cash balance of RM185.5 mil and cash per share of 12.04 Sen per share

• Gearing: Nil

• Net positive operating Cashflow of RM24.4 mil for 3 mths FY 2024 (RM123.8 mil FY 2023)

Conclusion

A share worth to buy in on weakness @42.5 Sen with huge potential upside of 41% to 69% with a valuation of 60.0 Sen to 72.0 Sen using PE 10 to PE 12.

Share Price RM0.425
Market Capital (RM): 658.0 million
Number of Share: 1.541 billion
EPS: 3.11 Sen (4 rolling qtrs.)
Estimated FY 2024 EPS: 6.0 Sen
P/E Ratio using FY 2024 Estimated EPS: 7.08
ROE (%): 18.29%
NTA/share: RM 0.17
Share Price range (1 Year): 25.5 Sen to 46 Sen

10 June 2024

RGB International Bhd (RGB) @ 42.5 Sen – A Gaming gem with valuation of 60 Sen to 72 Sen

Currently at 42.5 Sen it is trading at historical PE 10.81 based on CORE EPS of 3.93 Sen (audited EPS of 1.65 Sen for FY 2023 adding back all exceptional expenses per attached Excel Worksheet).

RGB at 42.5 Sen, presents an enticing investment opportunity with substantial upside potential. Our analysis suggests a conservative valuation range of 60 Sen to 72 Sen, reflecting a compelling 41% to 69% upside, contingent upon the Mr. Market's recognition of RGB's true value.

Valuation
Our valuation is underpinned by robust financial modelling, projecting an EPS of 6 Sen for FY 2024. This projection is supported by the recent securing of a significant contract worth RM381 million for the supply and delivery of Slot Machine Equipment in FY 2024. Based on a PE range of 10 to 12, our model suggests a fair valuation of 60 Sen to 72 Sen.

Financial Performance
RGB's Q1 FY 2024 results demonstrated a remarkable improvement over FY 2023, with a revenue of RM210 million and reported a PBT of RM25.276 mil and a PAT of RM22.005 million with EPS of 1.44 Sen. Compared to FY 2023 where the revenue was RM699 mil with PBT of RM32.79 mil (the adjusted core PBT after adding back the exceptional expenses was RM72.125 mil) and the PAT was RM34.0 mil (Core PAT = RM60.546 mil) with an EPS of 1.65 Sen (core EPS adding back exceptional items = 3.93 Sen).

Notably, the company reported no bank borrowings and maintains a healthy cash balance of RM185.5 million, indicative of its strong financial position. Additionally, RGB has consistently generated positive operating cash flow, with Q1 FY 2024 recording RM24.4 million.

Catalysts for Rerating
Several catalysts support our bullish outlook on RGB:
• Exceptional Q1 2024 results with significant growth compared to FY 2023. Q1 PAT of RM22.005 mil is 36.3% of FY 2023 Core PAT of RM60.546 per the excel worksheet attached.

• Securing a lucrative contract from Philippine Amusement and Gaming Corporation ("PAGCOR") for the supply and delivery of Slot Machine Equipment, valued at RM381 million.

• The anticipated positive contribution to earnings and net assets per share from the PAGCOR contract in FY 2024 commencing from Q3.

• At conservative net margin after tax of about 10% (we understand from investor briefing net margin range from 9% to 12% depending on order quantity), we estimated the impact after tax of the contract could be about RM38 million net profit given the Macau tax rate is 12%.

今天PESTECH有点量。

PESTECH 什么时候出好消息。。

投行目标价 RM0.66 。。 希望这几天可以稳稳 0.44 。。 下个星期 0.46 - 0.48

Result out, 还是亏钱，，

The company notes that at the opening, the casino establishment will have 281 gaming tables, 1,126 slot machines, and 134 electronic table games for both the mass and VIP markets.

明年第一个季度营业（酒店+ 赌场） ， 估计 今年7 - 9 月分公布另外一个赢的 PROJECT...

https://agbrief.com/news/philippines/02/04/2024/philippines-westside-city-project-to-open-main-hotel-casino-in-first-quarter-of-2025/

https://agbrief.com/news/philippines/02/04/2024/philippines-westside-city-project-to-open-main-hotel-casino-in-first-quarter-of-2025/

AWARDED 一个 PROJECT 价值 接近4亿。。 这个应该是开胃菜。 希望 7月份再公布多一个。

如果业绩维持这样 ， 长期股价可以去到 RM0.70 - 0.90

Got Divided/

RESULT OuT>.

RGB 有点量跌。。 业绩应该不理想

第一轮 ， 庄会卖出的价钱。 RM 0. 445 - 0.455. 希望熬的过。。 这个价位。

这个星期可以动到0.45吗 ？

Should be another good news announce soon direct from RGB FILIPINE

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3447196

终于看到晴天。。

RGB 应该是调整完毕。 希望这个星期突破 0.42

Pestech loses another appeal in Gemas-JB double track dispute

https://theedgemalaysia.com/node/710296

@kusatsu 我不知道有没有坏消息。。希望是没有 。 我们只能观察PESTECH 的量价。

高等法院驳回 PESTECH Technology Sdn. Bhd. 的禁令申请

与YTL 官司； PESTECH 败诉

很快会继续向 RM 0.42+ 区域迈进。。。。 希望下个星期站在 0.45。
阻力位：RM 0.405、RM 0.42、RM 0.435、RM 0.45 区域

https://www.nationthailand.com/thailand/economy/40036976

一个菲律宾就有 270亿的市场。 （ 60亿美金, 5年计算）. 泰国大概是它的5-7倍市场。