Yes, hopefully can break the 0.19 resistance today, then I would say 0.25 for this week is possible.

One company that we can benchmark is Efficen, a bit similar type of business, Efficen is currently trading @ PE37, Other technology counters like IFCA @ PE29, Systech @ PE28, Nova @ PE37. Let's take PE20 for PRIVA, it should be trading 0.3 easily.

I foresee PRIVA movement will be similar to Systech.

Thanks Icon8888, very comprehensive article. Hopefully this will bring the share price to above 0.3 :)

From QR:

.....Currently, our OSD orderbook stands at RM151m which will last us until 2020.

For those who still believe the PE is 4+, think twice.

They issue amendment to revise the EPS to 1.29 instead of 2.22, but I still can't understand how they derive the number, a bit confusing, I am "cautiously optimistic" about this company.

but to be fair, this recent quarter is really due to seasonality, next 2-3 quarters will be good, still a gem for long term investor

Luckily I sold all yesterday.

Lesson learned.....for counter which price moved so high already, better sell before quarterly result announce, why?

1. If results good.....price will go down the next day, bcos "sell on news" mentality
2. If result bad.........price will go down

good closing @ 2.03, price still above 5, 10, 20 EMA, volume continue to increase, still very bullish

hopefully it will repeat the rally during 30 Oct 2014 (from 0.28 to 0.37) and 23 Jan 2015 (from 0.28 to 0.33)

patience, patience, will go up (suddenly), just wait

Amazing, can still fly, but watch out, will drop suddenly, the actual results is really not so good.

hold tight, Sign will move anytime soon. Now is just minor correction, nothing to worry.

Current yearly EPS is 7 cents, currently at PE5, if PE10, then should worth 0.7, the last time they disposed IJM share is 17 Feb 2014, so the last few quarters profit is real profit, no longer gain from disposal of IJM shares. Zelan will fly in 2015.

ya, true, with the recent price rally from 0.38 to 0.6, tomorrow might see selling pressure

Bought Dnex at the last minute today, seem like a good call.

Censof fly, Dnex also fly !!!!

From Censof QR:

Business Prospects

The Group’s current financial year performance is expected to further improve with better capital management and cost control initiatives, coupled with the following management actions:

1) On-going aggressive roll-out of GST projects for the SME business segment under Censof - ABSS Sdn Bhd
2) Expanding trade facilitation services by Dagang NeXchange Berhad to increase fees based income, and
3) Continuous rationalization efforts to enhance productivity and project margins.

25/02/2015 19:06

Censof fly, Dnex also fly !!!!!

From QR:

Business Prospects

The Group’s current financial year performance is expected to further improve with better capital management and cost control initiatives, coupled with the following management actions:

1) On-going aggressive roll-out of GST projects for the SME business segment under Censof - ABSS Sdn Bhd
2) Expanding trade facilitation services by Dagang NeXchange Berhad to increase fees based income, and
3) Continuous rationalization efforts to enhance productivity and project margins.

Selling pressure eased, selling q small volume, just waiting for big burst to above 2.2 anytime soon

I find it confusing as well on the EPS number, the shared number after IPO should be more than 200 million shares, the correct EPS is roughly 0.08. Annualize EPS should be around 3 cents only, not 7.57. Please clarify.

a bit high now although it breakout 0.6 (the previous high), I suggest don't chase high, buy on weakness later.

buy on weakness/correction is always is a good strategy for good fundamental stock like SIGN, remember now PE only 7+, huge grow potential.

haha, opportunity to top up again, buy now !!!!

my buy call on 10 Jan @ 0.42 generated 40% profits if you hold til now. :)

Thanks KLSEAdviser, I am reading the IPO prospectus, found the same, their average EPS/year for the last few years is around 3 cents, before adding the new shares after IPO.

hi, I saw this counter EPS for last quarter alone is 5.61 cent, is this true? Am I missing something? too good if compare with the current share price.

yes, if you miss the boat last week, any price below 2.1 is a good chance to collect.

2.5 this week

technically, it breakout from all time high of 1.99 in Sep 2014, up trend confirm, enjoy the ride.

Yes yes, huat ah !!!

A lot of people got burn last year by Iris with all the news, hope, projects that seem like good prospect, but clearly all of that manipulated by operator. This year, for Iris price to move up, it have to show the real number (profits, EPS), otherwise I don't think the price will move much, my advise is wait for the quarterly results to be published first, otherwise you will get trapped like last year.

Based on all the facts and figure, my personal TP1 is $2.5 (Feb), TP2 is $3 (Mar-Apr), and if next quarter results can continue to improve, TP3 $4 is achievable in May-July.

We need operator to push the price, just depend on retailer the price won't move very far.

True, TAN KEE CHOONG & CHOOI YOEY SUN the 2 important guy that run the company didn't dispose at all, both combined hold more than 50% stake, HSC Healthcare is just passive investors, like EPF when they sold their stake in any counter is mainly due to profit taking, nothing wrong, as long as Tan and Chooi is holding, I don't see any concerns at all.

Furthermore, there are some 1 million shares changed hand on 9 Feb 2015 @ 1.73 in 3 transaction, personally, I believe this shares transfer to operator hand for them to push the price.

Let me summarize all the good points about SIGN:

1. Property market slowdown in 2015. Yes, true, in fact property market start to slow down since 2014, but Signature being the market leader in this industry is still seeing a tremendous growth for the last 6 quarters due to the strong performance and strong order book.

2. Strong growth for the last 6 quarters, very consistent growth so far:
FY/Q Rev Net Profit EPS
FY2015 Q2 $71m $12.1m 10.2
FY2015 Q1 $59m $6.7m 5.6
FY2014 Q4 $63m $8.7m 7.4
FY2014 Q3 $42m $4.1m 3.5
FY2014 Q2 $42m $2.9m 2.4
FY2014 Q1 $27m $2m 1.7

3. Current unbilled order book - $200m

4. Tender book of RM500 million that is spread over three to five years, and history success rate is 40%-50%, which mean around RM250m.

5. The continued order flow explains the rationale for Signature’s purchase of five parcels of industrial land in Seremban recently for RM50.8 million to double its capacity.

6. Other potential project:
a. High-quantity projects in a 5 to 10-year development by Chinese developers in Iskandar Malaysia.
b. Expansion in Sabah Market
c. Growth in retail estimated 10%, set up two Signature Lifestyle Galleries last year — at The Cube in Puchong, Selangor, and Danga Utama in Johor
d. PR1MA project ~RM200m

Another IFCA in making if the growth can sustain, next week will top up. 2015 star !!

haha Joel, hopefully

Cipapo, if what you said is correct, just be smart, ride on the up trend, and sell before they sell, don't be so stupid, haha

hit RM2 even before CNY, huat ah.

look at the company fundamental, this is most important thing to drive the share price, the fundamental is very very solid with tremendous growth potential for the next few quarters.

Nomadmy, for me, as long as the 2 key directors: TAN KEE CHOONG & CHOOI YOEY SUN are still with the company and doesn't dispose their share, it should be OK, both of them combined hold more than 50% of stake in the company, and they are the key persons running the company. HSC Healthcare is just a independence shareholders I guess.

http://www.theedgemarkets.com/my/article/signature-unperturbed-softer-property-market

Edge Weekly

Signature unperturbed by softer property market

By Tang Wei Lynn / TheEdge | February 10, 2015 : 6:00 PM MYT

SIGNATURE INTERNATIONAL BHD is unperturbed by the slowdown in the property market. The kitchen cabinet and wardrobe maker is still receiving a fair number of enquiries from prospective customers every month.

Besides, Signature (fundamental: 2.1; valuation: 2.4) is hopeful of winning a slice of the high-quantity projects in a 5 to 10-year development by Chinese developers in Iskandar Malaysia.
Also, it sees opportunities in affordable housing projects under the Perumahan Rakyat 1Malaysia (PR1MA) programme.

“We will be able to achieve double-digit growth [in revenue and profit] for the financial year ending June 30, 2015 (FY2015). For FY2016, we are very confident. For FY2017, it will depend on how fast our order book translates into revenue recognition,” its managing director Tan Kee Choong tells The Edge.

Signature’s project division is currently sitting on an unbilled order book of RM200 million and a tender book of RM500 million that is spread over three to five years. Tan is optimistic that the group can sustain its figures “beyond three years”. “I agree that property launches are slowing down. However, it’s not like there are totally no launches. There are launches, and we are still receiving enquiries. Being a market leader here, even if the project launches are fewer, we will still have projects to work on,” says Tan, who is also the company’s single largest shareholder with a 24.9% stake.

For FY2014, Signature posted a net profit of RM19.2 million, or 16.2 sen per share, on revenue of RM178.7 million, of which 69% was contributed by the project division.
Its net profit tripled to RM6.67 million, or 5.6 sen per share, in the first quarter ended Sept 30, 2014 (1QFY2015) from RM2.03 million in 1QFY2014. Revenue more than doubled to RM59.3 million from RM27 million.

The continued order flow explains the rationale for Signature’s purchase of five parcels of industrial land in Seremban recently for RM50.8 million to double its capacity.
Signature’s pro forma gearing will increase to 0.58 times from 0.16 times if the land purchases are funded solely by borrowings, but Tan says the group is comfortable at this level, given its steady cash flow.

Signature is still very much focused on the home market, with the central region accounting for 60% of its tender book; the southern region, 30%; and the northern region, Sabah and Sarawak, 10%. “We are [now] focusing on Sabah. There are fewer competitors there, and we stand a very good chance. We have done a couple of projects there and because of that, we’re invited to tender [for contracts] when there are project launches,” Tan says. Historically, Signature’s tender book has a success rate of 40% to 50%, based on the number of projects, and not the values of the tenders. The values of the tenders can range from RM2 million to RM20 million.

On the Battersea project in London, in which Signature had bid for, Tan says the group has failed to win the contract for the first phase and is now following up on the second phase, although it is still in the preliminary stage. The second phase contract, which is estimated at RM20 million to
RM30 million, is expected to be awarded in the middle of next year, he says.

While the group continues to focus on high-end projects, he says it sees the PR1MA programme as an extended offering. Tan, however, notes that PR1MA, which is spread over 10 years, is still very much in the preliminary stage. “What we are proposing for PR1MA is, bundling our offerings with loan packages. As the government currently has no plans to include [the cost of] kitchen cabinets as part of the loan, we are trying to work out a scheme. That’s the plan, but it’s still in the early stage,” he says. “Nonetheless, I don’t see this (PR1MA) as a major contributor to our earnings. If we can get it, it will be a bonus.”

Signature enjoys a gross profit margin of 30% for its high and mid-end projects, Tan says.
The group is also optimistic about the performance of its retail division (30% contribution to group revenue), which generates cash flow and helps establish its brand. “While the project division will remain as our main driver, we have equal focus on the project and retail divisions. A revenue contribution ratio of 70:30 or 65:35 will be good … we do not want the retail division to be too small,” says Tan.

To further build its brand, the group set up two Signature Lifestyle Galleries last year — at The Cube in Puchong, Selangor, and Danga Utama in Johor — to provide a “lifestyle experience” to prospective customers and host cook shows and so on. “We expect about 10% growth in the retail segment every year, hence we will add three more galleries as part of our five-year plan [which started last year]. We will not see immediate returns, but [I’m confident that] the galleries will generate extra revenue for the group"

after CNY you can't get below 2

huat ah, buy now before too late

look like today going to hit above 2

Sign appearing in The Edge "Stock with Momentum" today