Whoever is believe Gamuda, just add and whoever is don't believe , just sell.

Will Gkent mimic TecGuan limit up?

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By CIMB Re

Rail contractors key beneficiary of more “rakyat-centric” projects

On the implementation of large-scale infrastructure, Datuk Johari said the government’s focus will continue to be on high-impact projects that are “rakyat-centric” and carry huge multiplier effects. This is positive, and suggests that public transport upgrades,
particularly in rail services, will continue to be the key feature over the next few years.

Among contractors under our coverage, the biggest rail play is Gamuda.

TP RM5.90 by CIMB RE

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Joe2703: Client get from RHB

Further expansion. Encouraged by the market’s reception of its new 33-layer nano technology stretch film commissioned in early-2016, Thong Guan (TG) will be adding another line in 1Q-2Q17, to cater to encouraging demand for the superior film type. The new line will increase stretch film capacity by c.25% and add an additional MYR90-100m in revenue pa. As TG moves up the value chain to offer higher value-add products, we expect the company to achieve better margins going forward.
Ambition in the wraps. We also favour TG’s positioning as the only major polyvinyl chloride (PVC) food wrap producer in Malaysia and one of three largest in South-East Asia (SEA). It is targeting to be a market leader in SEA by end-2017 and has allocated MYR20-25m to add two more PVC wrap lines over the next eight months. Demand for PVC wrap is growing fast, with TG already facing a backlog of orders to be filled for the rest of the year. Overall PVC wrap capacity is currently running at around 90%. As the new lines come on-stream, this is expected to add MYR20-24m pa to total revenue.
Food certification underway. TG’s noodle facility in Sungai Petani is awaiting organic certification from authorities in Australia, China and Japan, which could happen in the near future. Upon certification, it will be able to ramp up production to cater for larger noodle orders going forward. The company is currently engaged in talks with several retail chains in Australia and China to supply organic baby noodles.
Upgrade to BUY. We tweak our FY16 estimates by 4.7% after accounting for stronger-than-expected utilisation rates at its stretch film division. We also raise our sales tonnage assumption by 17-26% in FY17-18 to account for the new capacity. Our SOP-derived TP is raised to MYR5.27 after rolling forward our valuation to FY17F, based on P/E of 13x, which is in line with the peer market cap weighted-average P/E of approx. 13x. Our target P/E of 13x implies a PEG- ratio of 0.59x.

Thong Guan Industries (TGI MK, BUY, TP: MYR5.27)
Set To Impress Again

We recently caught up with management and believe FY17F bears exciting prospects for Thong Guan (TG). Earnings drivers include further expansion at its stretch film and polyvinyl chloride (PVC) divisions, underpinned by robust demand for its products. We expect TG to post a solid 3-year earnings CAGR of 22%. We upgrade to BUY with a TP of MYR5.27 based on FY17F target P/E of 13x (from 10x).

TG looks set to post another stellar quarter and we believe the market will continue to re-rate the stock given its strong profits delivery.

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The Company wishes to announce that the validity of the LOA has been extended by the State Government to 28 February 2017 vide its letter dated 29 July 2016 which was duly accepted by the SRS Consortium on 4 August 2016.

Save and except for the abovementioned, all terms and conditions of the LOA remain unchanged.

IS THAT MEANT THE CONTRACT WILL AWARDED WITHIN 6 MONTHS?

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Good performance, more to come.

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GEORGE TOWN: Electronic gaming machine and equipment maker RGB International Bhd is eyeing new businesses in Europe and South America, as the company seeks to expand its market reach.

RGB derives 95% of its sales from the Asia-Pacific region.

“We want to move away from our traditional markets to broaden the revenue base for the group,” said group managing director Datuk Chuah Kim Seah (pic).

The company, he said had secured orders for 700 units of gaming machines valued at RM80mil for the first half 2016.

About 500 units had been delivered to customers.

“The remaining 200 will be delivered in the third quarter. With the delivery of the 700 units, we are projecting double-digit percentage growth over last year’s net profit,” he told StarBiz.

The sales of gaming machines made up about 70% of the group’s revenue, while the remainder was contributed by the RGB’s gaming concession programme, which included the leasing of machines and equipment.

Chuah said the group was targeting to sell more machines than last year’s 1,300 units, which generated RM145mil in revenue.

For the second half, the group had 400 more gaming machines with an estimated market value RM45mil to deliver before the end of the year.

“The total undelivered units to date is 600, which includes the 200 yet to be delivered units secured in the first half.

“To surpass last year’s goal, we need to secure sales for 300 more units,” he said.

On RGB’s concession business, the leasing of the machines in the Asia region is expected to generate RM7.6mil per month for 2016, compared with RM7mil in 2015.

RGB leases its gaming machines to customers in Indochina, the Philippines, Timor Leste and Nepal.

“The Philippines is one of the largest markets for us,” he said.

Chuah said the group would be leasing machines soon under its concession programme to Kathmandu, which is a new market for the group.

“The machines are ready to be shipped out and should be operational by the fourth quarter,” he said.

RGB reported a 37% increase in net profit to RM5.9mil in the first quarter ended March 31, as revenue improved 45% to RM56mil.

Meanwhile, the group has settled the remaining RM27mil debts owed under the Commercial Papers Medium Term Notes (CPMTN) programme ahead of the scheduled final payment due in 2019.

“The group has more than RM60mil cash in hand, after settling the CPMTN debts,” Chuah said.

This cashpile will come in handy as the group explores opportunities in new markets.

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Almost accumulating enough

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Dont argue, just buy if you in this "Gkent" forum

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Now 4.12 due to Brexit.

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Excellent

Icon, any update on the latest result?

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Why not if consistent 7-8% dividend and with potential appreciation in share price.

Patiently accumulate.

RGB compliance with the US Foreign Corrupt Practices Act since July 2015 has enhanced the group’s reputation among the gaming operators, giving it
the credibility to be their strategic partner into developed gaming markets such as Macau and South Korea (Jeju Island with Dream Tower and Genting Singapore's Resorts World Jeju), which it had difficulty before that.

This will contribute further if RGB able to penetrate South Korea and Macau in anytime soon.

RGB expected contribution starting to kick in on its 3rd gaming outlet in Nepal since February 2016.

Excellent

By next quarter, RGB will be zero debt. Thus, another saving in finance cost.

POTENTIAL IMPROVEMENT IN COMING QUARTERS DUE TO:

1) Awarded exclusive Aristocrat distributorship in Goa and Laos
2) Royce Casino concession in Philippines staring in Jan 2016
3) New machines to be placed at existing outlets to improve the revenue
4) Table games to be introduce
5) Interest saving from early redemption of loan

Nepal and Philippines casino revenue will continue grow and becoming next Macau. If RGB can ride with the local casino operators, RGB will be outperform again.

Accumulate while have chance.

RGB opportunity to participate in Royce Hotel should be a positive venture.