Rocket where u see 800 ? Is 80

https://www.facebook.com/AlibabaTrader/photos/pcb.116503736736651/116503050070053/?type=3&theater

https://klse.i3investor.com/blogs/share4u2019/2020-03-03-story-h1484684141-Ifcamsc_the_beneficial_GST_Potential_comeback_at_rate_3_back_to_2015_gl.jsp

Yes, agree mkme75
KYY already sold his share , he is not going to sell. So why you all so worry about it.

The AGM went straight to the Q&A session. Will bundle them in 10 specific points. Please note that this is a sharing from my own perspective, there might be error on my part.

1. Trade War
Few shareholders asked about tradewar, techwar, delay in the rollout of 5G - they're concerned about the fact that around half of Frontken customer are Taiwan based companies, and that recently there's a downturn in semiconductor companies in Taiwan as well as globally.

CEO answered that so far, they havent seen any impact from trade war just yet, but the future is uncertain. He mentions that Frontken is well diversified with 100 customers, and that their customers are still getting orders from giants such as AMD, Nvidia, IBM. He also doesnt think that this trade / tech war effects long term and is confident that Frontken have a very promising outlook.

2. Cyclical trend
CEO mentions that Frontken is dependant on customer cycle and that their clients tend to have stronger 2nd half which peaks in Q4 as normally new tech products are designed and start manufacturing then. In 2019, 1st half of the year is abit slow from their client. When asked if he sees a stronger cycle this year as compared to last year, He stressed that Frontken is at the FAB level and they haven't seen any slowdown in production.

3. Competitive Advantage
From the Q&A, there's a clear emphasis that Frontken have an edge over their innovation and technology over their peers, and this is down to their R&D team. Next year, Frontken is ready to handle 5nm production, and going to start that commercially in 2020. They're also doing R&D for cleaning for 3nm chips but that's not until 2021 at the earliest. He also emphasize that the market is big enough and is not worried about competition. Lastly there's competitive advantage in their economies of scale, in the sense that they're becoming more efficient and effective from their production than ever before

4. China
When asked about expanding to China, CEO mentions that there's already an indirect exposure to that country via their clients from Taiwan but there's very few direct clients from China. He also mentions that they believe they're superior cleaner than peers in china and that it's a concious decision not to be in China. Geographically it's a challenge to be in China and delivering there. It's a volume game and since their focus is to make money, they might not set up base in China

5. Oil & Gas
Frontken is bullish on the developments in oil & gas sector and its contribution to bottom line. It expects oil and gas industry to contribute about 25% to total revenue in 2019. It highlights that business done in this sector is starting to profit. It was loss making in 2017 but in q1 2019 alone, profit made from this segment make the whole entire profit in 2018.

6. Cash
Frontken has alot of cash and they're consistently on the lookout for M&A to expand tech base. CEO mentions that he's very picky on M&A. Furthermore, he stresses that Frontken been paying out dividend increasingly. There's also no plan to spend big on capex

7. Secret Sauce
Shareholder harry teo asked how issit that they can grow revenue by 20% but only grow cost by 1% - CEO's says he cannot share the answer, indicating there's a "secret sauce" but mentions that costs is contained as there's more efficient processes which yields same result.

8. Focus
This was quite hilarious. When asked what's the goal and focus area in 2019, CEO answers "to make more money"

9. My personal query - earnings growth and Average Selling Price
I asked that the market currently is re-rating the valuation higher for Frontken (trading at 20x PE) and that is relatively high vs peers (TW peers trading around 10-15x) and historically high. With this, there comes a certain expectation - strong ROE, strong competitive advantage and continuous profit growth. My question was that the market & analysts are now expecting about 20-30% growth in earnings - can they deliver that and also whats their negotiation power over their ASP to their end client.

CEO semi-jokingly answers that they are "peerless". He also mentions that as their base number grow in time to come, it might be difficult to hit 20% profit growth - but mentions that 20% is a realistic target and is even aiming higher. However, there're some uncertainties in global market that will be out of his control for this year.

On Average selling price, Frontken is at a business that ASP will always tend to go down - but there's always a pricing roadmap with each client - which is based on volume and stability of process - to sustain earnings.

10. Dymon Asia
A partner from Dymon Asia (hedge fund from Singapore) was in attendance and he's pleased with the performance of Frontken.

http://www.theedgemarkets.com/article/malaysias-palm-oil-exports-forecast-rise-43-2019-%E2%80%94-mpob

Yes agree sasuke88
The one keep say ppl bark actually he is the one barking

http://www.theedgemarkets.com/article/kvdt2-retendering-possible-ecrl-revival-seen-positive-gamuda

Brent oil 61

Oil prices continue climb !!
http://www.theedgemarkets.com/article/oil-prices-climb-amid-uschina-trade-talk-optimism