@NgWS90, no secret lah. It is Stellantis for Peugeot fuel tank and wire hardness. Just completed the final product audit. Mass production starts in Oct. Estimated additional sales of RM70mil per year (in FY2023) with net profit of RM10mil (net profit margin of 15%) from this division only. So, you guys do your own math of the rest of division for FY2023 profit growth....
dear investortrader88, don't need to tell or rather show off here. i am very happy for you yet to make a good profit. Many here i believed also been keeping this counter long and cheap also. is good that we need to be prudent and humble. some make profit and some may making lost. do care for others feeling too. this is just my opinion . if i offended you, would like to say sorry first.
Refer my comments 2 months ago...."Malacca Securities upgraded its TP from RM1.51 to RM1.94 within 3 days ! The main upgrade was it expect the company to double its profit from RM25mil in FY2021 to RM48mil in FY2024. It is rather difficult to find a company which can double its profit within next 3 years....Share price could be doubled easily within next 1 or 2 years too. Please advise me if you can find other similar companies can match SCOMNET performance."
Extract from TA Research : Robust Earnings Growth. We estimate Scomnet to register a profit growth of 51.5%40.6%/22.7% in FY22/FY23/FY24 driven by existing orders from Edward Lifesciences and Ambu. In addition, strong demand from Mermaid’s declotting device, new orders secured from Stellantis and maiden contribution from IHS are expected to boost earnings significantly over the next 3 years.
Preparing for the Future. To facilitate future growth, the group will proceed with a 5-storey building expansion. The 5-storey building will provide an additional 12,000 sqm and will take about 3 years to complete. The new plant will be GMP compliance and will cater for more medical products.
Transfer of Listing. The group has kicked off the necessary preparations for transfer of listing. We opined that the move will help to lift interest on the stock, especially from institutional funds (below 15% currently).
Reasonable Valuations. Scomnet is currently trading at 26.2x PER. We opine that our target PE of 32.0x is reasonable (in-line with its 5-years mean), considering that the peers are trading at 31-36x.
The immediate TP is between RM1.90 to RM2.00. The "boost" here is after the 3q results announcement by 30Nov and transfer to Main Board (dont know when loh)
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
bullrun1985
1,271 posts
Posted by bullrun1985 > 2022-09-14 14:56 | Report Abuse
@NgWS90 1.50 broken liao, meaning 1.50 become resistant line