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2017-05-07 10:21 | Report Abuse
CIMB Research has a target price of RM1.50, but that was before the Alipay came into the picture.
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2017-05-07 10:10 | Report Abuse
the report was on first week of April 2017
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2017-05-07 10:09 | Report Abuse
GHL SYSTEMS BHD
By RHB Research
Neutral (upgrade)
Target price: RM1
ACTIS, a private equity firm, has proposed to acquire a 44.4% stake in GHL Systems to become the single-largest shareholder.
Concurrently, Actis made a mandatory general offer for the remaining GHL Systems shares at an offer price of RM1.
RHB Research said it saw this as an excellent opportunity for shareholders to monetise their investment and, hence, it advised investors to accept the offer.
The offer price of RM1 implies a 15% discount over its five-day volume-weighted average price (VWAP) of RM1.18.
RHB Research, however, said this was reasonable given that it was largely on par with its six-month VWAP, and translated into an appealing 2018 and 2019 price-to-earnings ratio of 21.6 times and 19.5 times respectively.
It said the offer price implied a decent premium of 8.7% over its previous target price of 92 sen.
As such, RHB Research believed this as an excellent opportunity for investors to capitalise on, and hence advised shareholders to accept the offer.
The research house upgraded the stock to “neutral” with the target price revised to RM1 being the offer price.
On its existing operations, RHB Research remained cautious on near-term earnings visibility, as the current subpar retail climate in Malaysia could impede merchants’acceptance of its transaction payment acquisition (TPA) model.
On the regional front, while its Philippines operation is gradually gaining traction, the research house said that the intensified competition in Thailand remained a cause for concern.
“As such, we see this as a golden opportunity for investors to lock in their profits,” it added.
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2017-05-07 08:55 | Report Abuse
RHB advised to accept the MGO, but AmInvest advised again it.
What about CIMB Research?
Stock: [GHLSYS]: GHL SYSTEMS BHD
2017-05-08 10:49 | Report Abuse
thin vol...getting less ppl selling...it is good, no?