still got fantastic good news to be announced!!! cheers!!!

Maybank TP RM2.80
AllianceDBS TP RM2.60 and TP of RM3.10 in a bull-case scenario (56% upside)
PublicInvest TP RM2.36

VS - Preparing For Growth In China
Date: 21/07/2017

Source : PUBLIC BANK
Stock : VS Price Target : 2.36 | Price Call : BUY
Last Price : 2.07 | Upside/Downside : +0.29 (14.01%)

Back

The Group’s HK-listed subsidiary VS International Group Limited (VSIG) has announced a rights issue on a 1-for-4 basis to raise between HKD105.8m (c.RM58.1m) and HKD114.5m (c. RM62.8m) for expansion in China operations. VS Industry’s (VSI) 43.5% stake in the company will see it forking out about RM25.2m to subscribe for its entitled portion based on the subscription price of HKD0.23 (c.12.6sen) per rights share, which will be of no issue given its huge RM301.2m cash pile as 30 April, 2017, though it has indicated that it will be financed entirely via borrowings. VISG is reportedly in discussions to secure multiple large contracts from new customers, hence this exercise in preparation for the potential likelihood. We are positive on this development, with the group also having the opportunity to potentially increase its shareholding in the China-based operations which are set to record stronger growth numbers ahead. We remain affirmed of VSI’s prospects and maintain our Outperform call with an unchanged target price of RM2.36 based on 16x fully-diluted CY18 EPS.

More details on rights issue. Done on a 1-for-4 basis, VS Industry has undertaken to fully subscribe for its entitled portion (ie. 43.5%). Other key shareholders in VSIG, namely Datuk Beh Kim Ling, Datin Gan Chu Cheng and Datuk Gan Sem Yam who collectively own 9.7% in VSIG have also undertaken to subscribe for their respective portions. To ensure the success of this exercise and in a strong show of confidence in the future prospects of VSIG, both VSI and the trio have also fully underwritten all the remaining shares in issue in the event other shareholders choose not to subscribe. Should that actually happen, their collective holdings will increase from 53.2% to 61.2%. They have however been given exemptions from making a mandatory offer on shares they do not own in this eventuality. Funding will be of no issue.
Why the need for funds? We understand that VSIG is reportedly in discussions to secure multiple large contracts from new customers, hence this exercise in preparation for the potential likelihood. From the proceeds, HKD35m will be used to re-pay short-term borrowings taken previously to fund construction of new warehouses and for working capital, HKD9m will be used on the purchase of a new dual-lane Surface Mount Technology (SMT) assembly line, HKD12m to purchase new high-tonnage injection machines, HKD23m to enhance automation and with the rest for working capital.
Other matters. On a separate note and at last check, management remains undecided on its 20% shareholding in NEP Holdings pursuant to the Ozner deal with the owner and major shareholder. What is uncertain is the manufacturing-related arrangements with NEP Holdings now that ownership may change hands. We reckon VSI should just exercise its option to tag along in the transaction and sell all of its shareholding in NEP at the same valuation, pocket a tidy RM56.4m gain on its RM60m investment and focus its attention on other growth prospects (ie. the discussions they are in right now).

Source: PublicInvest Research - 21 Jul 2017

Source : China Press
威城認購港上市公司附加股 （吉隆坡20日訊）威城（VS，6963，主要板工業）將以總值約4601萬港元（約2525萬令吉），認購香港上市公司VS國際集團43.49%附加股。
威城向馬證交所報備，公司以每股0.23港元（12.6仙），相等于總值約2525萬令吉，認購VS國際集團附加股。根據報備文件，威城將包銷尚未認購VS國際集團附加股。
初步計算，威城將認購VS國際集團當中的43.49%，相等于2億2萬附加股。
威城持有VS國際集團43.49%股權。
配合上述宣布，威城今早9時暫停交易1小時，10時以2.01令吉恢復交易，升1仙。該股閉市報2.05令吉，起5仙，成交量418萬8900股。
VS國際集團以4配1的比例，發出高達4億9788萬附加股，每股發售價0.23港元（12.6仙），以籌獲介于1億280萬港元（約5600萬令吉）至1億1150萬港元（約6100萬令吉）之間。
威城將全數通過銀行貸款，認購上述附加股。

and very soon will announce big big good surprise news!! cheers!!

not quite true... i heard in next few months many models full run!

repeat~

Maybank TP RM2.80
AllianceDBS TP RM2.60 and TP of RM3.10 in a bull-case scenario (56% upside)

rm2.10 then warrant rm0.65, rm2.30 then warrant rm0.8x~ cheers~

红股!! bonus!! 花红!! 分红!! 股息!!

Our analysis suggests a TP of RM3.10 in a bull-case scenario (56% upside) and a TP of RM1.70 in a bear-case scenario (14% downside).

56% upside versus 14% downside, you should know the answer and direction. cheers!

Maybank TP RM2.80
AllianceDBS TP RM2.60 and TP of RM3.10 in a bull-case scenario (56% upside)

huat ah!!

very soon will announce surprises good news!! stay tune!!

Maybank TP RM2.80
AllianceDBS TP RM2.60

huat ah!!

VS Industry earnings outlook riding on key clients’ healthy growth prospects
TheEdgeThu, Jul 13, 2017 - 4 hours ago

VS Industry Bhd
(July 12, RM1.97)
Reiterate high conviction buy call with a target price (TP) of RM2.60: We like VS Industry Bhd (VSI) for its earnings outlook riding on its key clients’ healthy growth prospects. Opportunities for new contracts are encouraging. Management has a strong execution and delivery track record.

On the back of a major client’s increased emphasis in the China market, we believe there may be opportunities for VSI to expand capacity and revenue in China. New sizeable contracts have been catalysts for share price rerating in the past.

Our analysis suggests a TP of RM3.10 in a bull-case scenario (56% upside) and a TP of RM1.70 in a bear-case scenario (14% downside).

Our margin assumptions factor in a more gradual increase compared to the consensus. This is premised on the complexity of the new contracts secured and the additional cost incurred to cater for the increase in orders.

Potential catalysts include new orders as well as investments in breakthrough technology such as its stake in Seeing Machines Ltd.

We trim our forecast financial year 2017 (FY17F)/FY18F/FY19F earnings by 6%/2%/1% to account for changes in some existing contracts. Contracts for a key customer (accounting for 36% of FY17 forecast revenue) have lower margins.

A 1% change in the key customer’s operating margin will shift VSI’s earnings by 5%. VSI has grown its research and development team from 80 staff to 100 staff to oversee production efficiency and mitigate defect rates.

The group also plans to increase automation in its Malaysian plants that could reduce cost by 30% by end-2018. We expect margin improvements to be gradual.

Key risks to our view include lower-than-expected margins due to raw material cost escalation and/or suboptimal operational efficiency, which could dampen VSI’s earnings growth momentum in comparison with its top-line growth. — AllianceDBS Research, July 12

you may print screen and let's discuss here after 4~6 months. cheers~

insider~!
actually within 4~6 months will have special bonus issue, the so called big kaki group oledi sold out around rm2.x and now these group of ppl pressing the price down in order to re-enter more at lower price. they oledi grabbed 1st round at around rm1.9x. well play~ ^^

@feiloh, your info is wrong.

leng1234, at least rm1.20+

Bigbull99 is having better understanding than SuperPanda...

warrant 0.8x to rm0.9x

jun-sep-dec VS 2.3-2.55-2.8 VS-WA 0.83-0.99-1.26

yes, i admit i am the best fortune teller for VS

news~ super fantastic powerful result that you hv never seen before!!

and i heard they back to zaman dahulu, all VS staff nid to work on alt sat, no more 5 days work... nowadays modern and good benefits company are 5 days work and toward 4 days work or soho style... kikikiki... but good for investors like us, they work hard like cow to push higher profit, then VS share price rise high high... kikikaka...

actually when VS offering new staff at RM1.42, by right have to offer same price as new batch to those old staff also... i heard them said so...

i repeat~ you may print screen~ around that time treat me luxury lunch~

insider news, by sep big kaki will push to rm2.5+
warrant will be rm0.9 to rm1.00

insider news, by sep big kaki will push to rm2.5+
warrant will be rm0.9 to rm1.00

another big kaki group Mr xxx and Mrs xxx also accumulating warrant~

Insider!

Yesterday Financial Controller bought more VS Warrant!!

Oledi hint you all!!

Name CHONG CHIN SIONG
Descriptions(Class & nominal value) Warrants
Details of changes

Currency: Malaysian Ringgit (MYR)

Type of transaction
Date of change
No of securities
Price Transacted ($)
Acquired
11/04/2017
300,000
0.400

Circumstances by reason of which change has occurred Acquisition
Nature of interest Direct
Consideration (if any) -
Total no of securities after change

Direct (units) 1,500,000
Direct (%) 0.516
Indirect/deemed interest (units) 50
Indirect/deemed interest (%) 0.000
Date of notice 11/04/2017

Changes in Director's Interest (S135)

V.S. INDUSTRY BERHAD

Information Compiled By KLSE

Particulars of Director

Name CHONG CHIN SIONG
Descriptions(Class & nominal value) Warrants
Details of changes

Currency: Malaysian Ringgit (MYR)

Type of transaction
Date of change
No of securities
Price Transacted ($$)
Acquired
10/04/2017
1,000,000
0.397

Circumstances by reason of which change has occurred Acquisition
Nature of interest Direct
Consideration (if any) -
Total no of securities after change

Direct (units) 1,200,000
Direct (%) 0.413
Indirect/deemed interest (units) 50
Indirect/deemed interest (%) 0.000
Date of notice 10/04/2017

V.S. INDUSTRY BERHAD

Information Compiled By KLSE

Particulars of Director

Name CHONG CHIN SIONG
Descriptions(Class & nominal value) Warrants
Details of changes

Currency: Malaysian Ringgit (MYR)

Type of transaction
Date of change
No of securities
Price Transacted ($$)
Acquired
11/04/2017
300,000
0.400

Circumstances by reason of which change has occurred Acquisition
Nature of interest Direct
Consideration (if any) -
Total no of securities after change

Direct (units) 1,500,000
Direct (%) 0.516
Indirect/deemed interest (units) 50
Indirect/deemed interest (%) 0.000
Date of notice 11/04/2017

insider last hint -> VS warrant

Insider!!

if mother reach RM2.2 by May or June, warrant will be RM0.6 to RM0.65 (RM2.2 - RM1.65 = RM0.55)!! Tats why VS financial director keep acquiring warrant recently!!

6963WA (VS-WA °)
Changes in Director's Interest (S135) - CHONG CHIN SIONG
11-04-2017 07:00:31

Descriptions(Class and Nominal Value):
Warrants

Date of Notice: 07-04-2017

Transactions:
No Date Transaction Type No of Shares Price(RM)
1 07-04-2017 Acquired 200,000 0.395



6963WA (VS-WA °)
Changes in Director's Interest (S135) - CHONG CHIN SIONG
11-04-2017 07:00:33

Descriptions(Class and Nominal Value):
Warrants

Date of Notice: 10-04-2017

Transactions:
No Date Transaction Type No of Shares Price(RM)
1 10-04-2017 Acquired 1,000,000 0.397

Lim5238, 不愧是在VS工作的老鸟，知道的内幕消息可不少~

这么多人在这里车大炮，虚伪来虚伪去，恭维来恭维去，VS果然养了很多吃饱卖包的人，小弟我真的是由衷的敬佩这几位包大人~

heard big kaki very soon will start goreng warrant~

VS: Earnings Continued To Grow

Result Update

For QE31/1/2017, VS's net profit rose 6% q-o-q or 29% y-o-y to RM35.5 million while revenue rose 12% q-o-q or 52% y-o-y to RM764 million. VS's profits rose q-o-q mainly attributable to higher sales contributed by the Malaysia and China operations and forex gain of RM7.2 million which more than offset the impairment loss of RM2.9 million.


Table: VS's last 8 quarterly results


Graph: VS's last 48 quarterly results

Valuation

VS (closed at RM1.74 yesterday) is trading at a trailing PE of 20.5 times (based on last 4 quarters' EPS of 8.48 sen). At this PER, VS is deemed fully valued.

Technical Outlook

VS had a strong rally from a low of 13-14 sen in 2014 to a high of RM1.60 in late 2015. After a consolidation of 14 months, VS broke above the RM1.60 mark and continues with its prior uptrend. See Chart 1 & 2 below.


Chart 1: VS's monthly chart as at Mar 28, 2017 (Source: MalaysiaStock.Biz)


Chart 2: VS's daily chart as at Mar 28, 2017 (Source: MalaysiaStock.Biz)

The rally in VS is quite troubling because of two things; firstly, the share price is at a new high while quarterly earnings has yet to surpass the high of Oct 2015, and secondly, warrant price is not rallying as strongly as the share price rally. At some point, these dichotomies must be resolved: Earnings must rise & warrant price too; or share price must pullback! We will have to wait & see.
(Note: The profile of VS-wa is exercise price of RM1.65 and expiry date of Jan 6, 2018; giving you a premium of 16%.)


Chart 1: VS-wa's daily chart as at Mar 28, 2017 (Source: MalaysiaStock.Biz)

Conclusion

Based on good financial performance & positive technical outlook, VS can bea good stock for long-term investment. However the share price maybe running ahead of the fundamentals as noted above. As such, I still maintain my rating of SELL INTO STRENGTH or switch from share to the warrant.

i told you all oledi, big kaki will purposely pull back price then buy back at lower price. Insiders~

told you oledi, they will buy back after pull back price after good result annoucement

insiders big kaki will push to RM2 by June, by year end RM2.4 RM2.5, next year will split with bonus, equivalent to RM3 before split

林兄您好，黄兄是指?

big kaki inside told us they want to press warrant until 0.25 bcoz they want to collect more.

will drop to 0.2~0.22 this round

太迟买进也可能会遇到股价提前调高的情况。

对你来说不快，对我来说算快，几个月而已。

你们很快就会明白的。

VS - Big To Get Bigger
Author: PublicInvest | Publish date: Mon, 16 Jan 2017, 10:09 AM

Forget any potential excitement surrounding currency-boosted earnings. Appreciate the fact that herein is a company which is just going to earn more from manufacturing a substantially larger amount of products in the coming financial years. VS Industry’s (VS) history is long, performance through the years mixed with its up and downs given the constant product life cycle changes and evolutions. Its future is bright in our view however, if it may not be too much to say. A vertically integrated Electronics Manufacturing Services corporation and which counts renowned multi-national corporations (MNCs) as its customers, VS is poised for double-digit earnings growth, underpinned by new substantial orders from existing key customers and contracts from new customers. We initiate coverage with an Outperform call and a target price of RM1.90 based on a 15x PE multiple to its fully-diluted FY7/18 earnings, the multiples appropriate in our view considering the anticipated jump in earnings going forward. Our valuation suggests a potential upside of 30.1%.

Growth drivers. i) Whereas the Group was quite reliant on a single customer in the past, conditions have changed in recent years to an extent that about 60% of its revenue is now contributed by 3 customers. This mix is not expected to change significantly in the near to medium term, the size of the pie is however, as VS is starting to see increased orders from all 3 key customers.

ii) In July last year, VS proposed to acquire a 20% stake in NEP Holdings (NEP) for RM60m in cash, with the deal recently completed in November 2016. NEP is one of the largest water filtration system companies in Asia with c. 30% market share in Malaysia, c.20% market share in Singapore and c. 30% market share in Hong Kong. It is now penetrating into China through a partnership with Haier. Acquisition of NEP will provide 2 new income streams to VS, 1) additional manufacturing income, and 2) associate-related contributions from a fast-growing company.

iii) Once plagued by capacity under-utilization which was a drag on earnings, operations in China and Indonesia are turning around and expected to be sustainable going forward, supported by increased orders from existing and new customers.

Dividends. The Group has a formal dividend policy stating a minimum 40% profit payout ratio. Given its healthy cash position, strong business growth prospects and low spending requirements in the near term, we see this easily attainable for the foreseeable future. VS has consistently paid out dividends (payout ratio averaging 46%) over the last 19 listed years. Based on its stated policy, potential forward dividend yields are attractive, ranging between 3.5% and 4.0%. Healthy earnings growth prospects translating to potentially healthy capital gains, coupled with decent dividend yields makes for an attractive investment proposition.
Source: PublicInvest Research - 16 Jan 2017

不是这样单单看PE的。

大众银行给vs的目标价是合理的，今年6月后你就会知道了。倒数5个月。

最后一季让人不兴奋而已，接下来没有机会低价买了。

insider news, next result will hv superb strong profit, mgmt will push to 0.375 then only press back to 0.30.