TA does not like Ikhmas, that is why it gives low TP. Others like Ikhmas, there's why TP is higher. Sometimes, TA wants to collect it low and then jack it up later. It does not want you to collect i. Careful with their ratings. They have motives behind most of the time.
KUALA LUMPUR: Ikhmas Jaya Group Bhd, which is en route to list on the Main Market of Bursa Malaysia on Monday, saw its net profit surge 93.4% to RM8.49 million or 2.16 sen a share for the first quarter ended March 31, 2015 (1QFY15), from RM4.39 million or 1.11 sen a share a year ago, mainly contributed by a railway track project.
Revenue rose 35.9% to RM76.34 million from RM56.17 million in 1QFY14. Going forward, the piling specialist expects its performance for FY15 to improve on the back of the continued growth expected from the piling and foundation services market in Malaysia.
“Revenue from bore piling is expected to grow in view of our future plan to enhance our bore-piling capabilities by expanding our fleet of bore-piling machinery,” Ikhmas Jaya said in a filing with Bursa Malaysia yesterday.
“The group’s manufacturing and installation of prefabricated building system segment is also expected to grow because the Malaysian government has encouraged the usage of prefabricated building system in the construction industry, particularly for the construction of low- to medium-cost houses as this building system can produce a large number of houses at affordable costs,” it added.
Earlier this month, the initial public offer (IPO) of Ikhmas Jaya was oversubscribed by 8.16 times.
Ikhmas Jaya’s IPO entails a public issue of 126 million new shares, of which 26 million shares were available for application by the public.
Another 26 million shares are reserved for eligible directors, employees and business associates of Ikhmas Jaya and 74 million were available for application by way of private placement to selected investors.
Dear Mr Beza, what do you expect the open price and the closing price on next Monday. Please help. Someone want try to con people by saying it would open at 88 sen and close at RM1.18.
yea fair value with new 1q15 results should be 80-90c..remember econpile last time which went up 100% in a 2 weeks after its IPO? Econpile is not even as strong as Ikhmas..Ikhmas has stronger financials, orderbook and management..put 14x (same valuation as Econpile) with recent quarter profit annualized you get about 90c fair value..that also assuming next quarters dont grow more..See for yourself la..1 ringgit is easy for Ikhmas. Whack enough
Dow Jones Industrial Average (^DJI) -DJI Watchlist 17,568.73 Down 163.19(0.92%) 4:04PM EDT
Hope IKHMAS will open reasonable low (for us to buy in the first 30 minutes with < 10 sen premium) but will fly and close high in the afternoon session on Monday. Hope it will continue to rise in the next two weeks to test the RM1.00 resistance.
Dear LaoLiu, definitely IKHMAS is better than SUNCON because SUNCON capitalisation is too big to push it. Somemore all existing SUNWAY shares holders are given SUNCON shares at RM1.20. They are ready to sell.
All the three latest IPOs open less than 10 sen premium. Our hope is able to buy at the lowest. If follow Xin Hwa, it happens 15 minutes after opening. If follow Dolphine and Sedania, it happens at closing. Not an easy task at all in purchasing IPO at the lowest. There is no such thing as early birds can buy at the lowest at the opening and sell at the highest at the closing. But of course, it is not a one day afair. Econbhd hit RM1.15 after 5 weeks time.
In the open market, when big players come to goreng or do flipping... those fundamental/technical analysis become meaningless... dun rely too much on the said TP...
The fact now is the IPO MANIA based on the explosive performance of XIN HWA and SEDANIA. For IKHTIMAS to close below RM0.57 is quite impossible. The risk is a trader unluckily bought at the highest and it closes the first day below the buying price. Probably ECONBHD can give us some guide on the first day.
ECONBHD: Issue price - 0.54 Open - 0.66 Highest - 0.73 Lowest - 0.605 Close - 0.705
So for IKHMAS: Issue price - 0.57 Open - 0.69 Highest - 0.76 Lowest - 0.635 Close - 0.735
This Ikhmas memang ripe to goreng. They have set it up nicely. Announce nearly 100% increase in profit for the Quarter before listing.
According to the prospectus, year to date tender wins only RM25m but tender book is about RM3b.
My guess is that they will release tender wins in the coming weeks to lift the share price. Mind you their average win rate for tenders is 15% meaning circa RM450m in tender wins should be forthcoming.
Public Issue 126 million. Offer for sale 56 million plus private placement 130 million. Total 312 million out of total shares issued of 520 million. Owners retained only 40% ??
Quiet down already. 80 sen drops to 77 sen. Hope it will go sideways in the afternoon session. Tuesday still got chance to go up. Target price RM1.00.
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Posted by ExLaSalle84 > 2015-07-04 12:03 | Report Abuse
TA - Fair Value RM 0.55.