Posted by Tornado > 2015-02-27 22:56 | Report Abuse

@wiseeye, mind take a look at smrt just release financial report and provide your view ?

Posted by Christine Goh > 2015-02-28 19:02 | Report Abuse

GHLS MK / GHLS.KL | ADD - Maintained | RM0.85 tp:RM1.11▲


Mkt.Cap:US$151.00m | Avg.Daily Vol:US$0.80m | Free Float:35.30%


IT Services | Author(s): Mohd Shanaz NOOR AZAM +60 (3) 2261 9078,


GHL’s FY14 core net profit was in line with our expectation at 104% of our estimate but only 86% of consensus’. Despite a higher effective tax rate in FY14, core net profit rose to RM9.7m vs. RM5.3m FY13, driven by stronger sales from its cash TPA segment following the e-Pay acquisition. We raise our FY15-16 EPS forecasts by 1-4% to account for higher TPA contribution driven by new merchant acquisition activities. We maintain our Add call, with a slightly higher RM1.11 target price, based on 23.8x CY16 P/E (40% premium over the payment sector average in view of GHL’s strong FY13-16 EPS CAGR of 78%). Stronger TPA earnings and M&A activities in new markets are potential re-rating catalysts. GHL is our top pick in the domestic tech sector.


4Q14 highlights


Revenue in 4Q14 rose to RM49.6m vs. RM16.2m a year ago, mainly due to higher contributions from the transaction payment acquisition (TPA) segment, which grew from RM4.1m to RM36.7m following the acquisition of e-Pay. GHL incurred a higher tax expense of RM3.1m during the quarter, partly due to additional RM1.2m in deferred tax expenses. Nonetheless, the company still recorded a higher core net profit of RM2.7m (vs. RM0.3 core net loss in 4Q13), after adjusting for impairment on trade receivables, inventories and intangible assets amounting to RM2.3m.


TPA-driven growth still on track


GHL is in the process of integrating its back-end system to the various banks in order to implement its TPA agreements to accept international credit cards. Management highlighted that the bulk of its effort in 2015 will be directed towards TPA initiatives in Malaysia and the Philippines. To recap, GHL is targeting to sign up 3,000-4,000 merchants in Malaysia following its agreement with Global Payments this year. Meanwhile, it also targets to sign up 300-500 merchants per month in the Philippines to accept payments using UnionPay and JCB International cards. Management expects its first TPA merchants to be on board in 2Q15 and expects more merchants recruited in 2H15, which is in line with our expectations.


Maintain Add


Accumulate GHL. Overall, we think that GHL’s growth prospects are intact and we are still confident of its execution strategy.

Previous [ GHL Systems Bhd ] reports...
15/2/15 Co.Flash Payment reforms beneficiary (ADD, RM0.85 tp:RM1.10)
12/2/15 Co.Flash Expanding Malaysian footprint (ADD, RM0.82 tp:RM1.10▲)
28/1/15 Co.Flash Securing Malaysian TPA (ADD, RM0.77 tp:RM1.00)

https://brokingrfs.cimb.com/aLdJmhCRWrfb8d9F5umY5OcToYM0ErE5u2qtm2EX1TrkGdr3e5b2lp3OxWLRPp3qwBLlztW85NCTHw2.pdf

Posted by bsngpg > 2015-02-28 19:45 | Report Abuse

Ms Goh: thks. I agree that the 1.11 is achievable.

Posted by pea3034 > 2015-03-01 21:18 | Report Abuse

what price i can byr

Posted by Alibi > 2015-03-02 14:30 | Report Abuse

Willing buyer willing seller...... Buy at market price lor.....
If you have no faith in this counter 50c also consider expensive...
If you have faith in this counter future growth, current market price is a steal....

Posted by Tornado > 2015-03-06 14:49 | Report Abuse

; )

Posted by Tornado > 2015-03-06 14:50 | Report Abuse

90c 's coming

Posted by jack daniel > 2015-03-06 14:59 | Report Abuse

yes follow with ifcams

Posted by pjtang13 > 2015-03-06 17:43 | Report Abuse

Yes, the share is going to break the support of 90 sen!

Posted by susielow > 2015-03-08 15:03 | Report Abuse

Go Go . Bright future GHL.coming soon to retest rm 0.92. Breaking this level mean BULL is coming.

Posted by TaurusGal82 > 2015-03-09 09:10 | Report Abuse

go go go~~

Posted by tssl74 > 2015-03-09 11:30 | Report Abuse

TP is stil around 1.1?

Posted by Christine Goh > 2015-03-09 15:30 | Report Abuse

GHL Systems Bhd - Expecting a good pay-off

ff
We left our recent meeting with GHL feeling confident about the group’s
prospects, which will be driven by credit card Transaction Payment
Acquisition (TPA) contribution in FY15 and better traction in ePay services.
Management highlighted that FY15 will be a key year for GHL given that it
will start credit card TPA in Malaysia and non-bank TPA in the Philippines.
We maintain our FY15-17 EPS forecasts and Add call, with an unchanged
target price of RM1.11, based on 23.8x CY16 P/E (40% premium over the
payment sector average in view of GHL’s strong FY13-16 EPS CAGR of 78%).
Stronger TPA earnings and M&A activities in new markets are potential
re-rating catalysts. GHL is our top pick in the domestic tech sector.

What Happened
We hosted 10 buyside analysts and fund managers last week for a meeting with
GHL. The company was represented by group CEO Mr Kanagaraj Lorenz.
Management discussed GHL’s earnings drivers following its 4Q14 results and
outlook for FY15. In addition, management shared about GHL’s risk
underwriting capability that allows it to embark on the credit card TPA
business. It also plans to grow TPA activities with three potential banking
partners in Malaysia and the Philippines this year. Management expects to
secure a partnership with major Malaysian bank in 1H15. GHL is positive about
the Bank Negara Malaysia (BNM) ruling to impose caps on interchange fees as
this is expected to encourage more merchants to embrace e-payments given
that it will effectively lower merchant discount rates (MDR) immediately.

What We Think
While there were no surprises from the meeting, we were encouraged to learn
that TPA-driven activities in Malaysia and the Philippines are still on track to
start in 2Q15 following the completion of back-end network integration with its
partners. We expect GHL to acquire a monthly average of 500 merchants in
Malaysia this year, in line with its monthly target of 300-500 merchants. Apart
from that, we see the reduction in interchange fees as positive for GHL because
it provides more opportunities given that it is not economical for the banks to
fulfil the 800k point-of-sales (POS) terminals target set by BNM. Moreover,
merchant acquirers like GHL can still earn lucrative income as they do not
necessarily need to reduce spreads from the MDR.

What You Should Do
Accumulate GHL. Overall, we think that GHL’s growth prospects are intact and
we are still confident about its execution strategy.

Key takeaways from GHL meeting
We hosted approximately 10 buyside analysts and fund managers recently at a
meeting with GHL Systems’s management. The company was represented by
group CEO Mr Kanagaraj Lorenz @ Raj and the head of group investor
relations, Dennis Saw. Raj remains upbeat about GHL’s growth prospects on
the back of its TPA-driven activities in Malaysia and the Philippines following
the full integration of ePay last year. Management highlighted that FY15 will be
an important year for GHL as the company would commence its maiden credit
card TPA in Malaysia following recent partnerships with Global Payments Card
Processing (Malaysia) and non-bank TPAs in the Philippines. In addition,
management expects to secure another TPA partnership with a local bank this
year in order to boost its TPA activities in Malaysia. Meanwhile, management
also reiterated its commitment to stay transparent about its TPA progress by
disclosing information on the number of merchants acquired beginning in
2Q15.
Apart from that, this year will mark GHL’s foray into the government sector
following its agreement with Amanah Ikhtiar Malaysia (AIM) to provide
cashless payment solutions for AIM’s borrowers. This partnership will enable
AIM borrowers to use its ATM or a debit card instead of cash for loan
repayments. Additionally, the new terminals will enable GHL to offer additional
services from existing ePay products, such as mobile prepaid top-ups and utility
bill services, to AIM members. GHL is expected to deploy 8,000 POS terminals
for AIM’s collection agents starting from end-1Q15. Overall, we see decent
growth potential in the government sector following recent quotes by
government officials on the potential transition from cash payments to online
payments for services such as passport renewals, visas and expatriate, PR
border and student passes.

resources from

http://klse.i3investor.com/servlets/staticfile/256710.jsp

Posted by crawler > 2015-03-09 16:19 | Report Abuse

i wonder what will profits are we talking about if all GST payment transaction go through GHLSYS :)

Posted by WiseEye > 2015-03-09 16:31 | Report Abuse

crawler, from your statement, you don't seem to have much knowledge in GHLSYS. Submission of GST by companies to Customs can be made via online banking. You don't need a company like GHLSYS for such service.

Posted by crawler > 2015-03-09 19:17 | Report Abuse

or perhaps you don't know the details on how GHLSYS work...even at the backend of the bank they are using GHLSYS gateway

Posted by susielow > 2015-03-09 19:46 | Report Abuse

Can't break 92 cents. have to wait another 1-2 week before it fly . be patient. friends.

Posted by crawler > 2015-03-09 22:03 | Report Abuse

tomorrow will fly liao no need to wait 1-2 weeks

Posted by WiseEye > 2015-03-10 00:33 | Report Abuse

crawler, i advise u not to argue with me. I know the entire process of payment to customs from excise duties to sales tax, so I am very well-aware what I'm talking about. Payment of sales tax is as easy as paying your credit card bills online. GHLSYS comes in a different way and provide difference services to users.

Cheers.

Posted by ckwong86 > 2015-03-10 08:56 | Report Abuse

hard to believe you judging from SMRT recommendation. now still downtrend.

Posted by yoda88 > 2015-03-10 10:32 | Report Abuse

GHL is heading towards a bullish region.Manage to break 0.92 resistance.

Posted by speakup > 2015-03-10 10:34 | Report Abuse

just close eye & buy

Posted by WiseEye > 2015-03-10 11:05 | Report Abuse

ckwong, most of my positions are in GHLSYS, SMRT is just another stock that i buy. You being a short-termist investor has no clue what is happening. If you want me to predict share prices for the next 1 - 2 days, I must say no one can do that.

Rather than being so shallow in putting blames, why not reassess where you go wrong? Firstly, I'm sure you bought the SMRT at all time high. That is not recommendable and subsequent pullbacks gave you no safety margin. And to top it off, I am a long-term investor, hence your short-sightedness in investing looks childish to me.

Looking deep into SMRT, it is a great stock with good potential. SMRT is just like the previous GHLSYS, whereby it impairs when necessary and start anew. Infact, SMRT did not impair as much as GHLSYS. You can ask Christine, back then there were so many shallow investors talking bad of GHLSYS and now look who is the winner.

ckwong, you need to have a longer foresight and not just expect to be rich overnight trading in and out. If that is your case, being a non-professional like you, you will just end up burning more cash to long-term investors like us, by selling us cheaply in times of panic and just stare quietly when the price rebounds.

Posted by thx2012 > 2015-03-10 11:33 | Report Abuse

WiseEye, so are you suggest to buy this counter or sell this counter??

Posted by thx2012 > 2015-03-10 11:40 | Report Abuse

i buy liao zzz....

Posted by SLIM25 > 2015-03-10 11:41 | Report Abuse

I strongly believe that WiseEye is advocating a 'BUY' call on this counter... and so am I :)

Posted by yoda88 > 2015-03-10 12:07 | Report Abuse

depending on ones risk appetite, GHL is in bullish region, the next resistance based on 60min will be 0.96 n if that is broken it will very bullish.

Posted by cheeseburger > 2015-03-10 12:17 | Report Abuse

a lot of sheep here.

Posted by susielow > 2015-03-10 14:16 | Report Abuse

At last it broke 92 cent but whether can sustain or not !!! This fews day volume very high and be cautious. Beware of profit taking before GHL shoot up again and surplus rm 1.00 in near term. Good luck for those invest in this counter. Huat Ah ! Heng Ah ! Ong Ah.

Posted by Suhaimi Bin Mohamad > 2015-03-10 15:46 | Report Abuse

Kesabaran dah membuahkan hasil.... :)

Posted by Christine Goh > 2015-03-10 16:29 | Report Abuse

:)

Posted by tssl74 > 2015-03-10 16:53 | Report Abuse

up...hopefully can sustain.

Posted by susielow > 2015-03-10 18:21 | Report Abuse

Dow Jone future down 102 point at 6pm { Malaysia Time}. tomorrow sure jatuh lagi.

Posted by tssl74 > 2015-03-11 09:25 | Report Abuse

correct...jatuhing.

Posted by TaurusGal82 > 2015-03-11 09:47 | Report Abuse

0.975~

Posted by tssl74 > 2015-03-11 09:47 | Report Abuse

wow...climbing fast!

Posted by madiba > 2015-03-11 09:56 | Report Abuse

Reposting from Feb 12 2015

Stock: [GHLSYS]: GHL SYSTEMS BHD
Feb 12, 2015 11:37 AM | Report Abuse

Definitely stronger earnings traction here on. Momentum should build up fairly quickly to the 90 cents level first stop.

_________________

Ok guys I am taking my profit here on this momentum at 97-98 cents. Entry price on February 12 was 81 cent. Profit 20% 1 month holding. Thank you and good luck to all.

Posted by yoda88 > 2015-03-11 10:01 | Report Abuse

GHL breakout, a good mid term stock, will soon test 1.00 level.

Posted by susielow > 2015-03-11 10:24 | Report Abuse

I bought at 84,85,86 cents . Sold all 133 lot just now at 97 cents. this was the fifth day GHL. up up and away. Take a rest before climb higher. Goon luck everybody.

Posted by bullbear777 > 2015-03-11 10:48 | Report Abuse

Tak ape saya naik King Kong ini sampai RM 1.00 wakakaka. Sifu say madiba keluar dulu hehe.


_________________________

Stock: [MPAY]: MANAGEPAY SYSTEMS BERHAD
Feb 16, 2015 10:20 AM | Report Abuse

okok brother ImCK saya cool u dapat untung saya happi untung u. Saya cuma nak tanya chickenstock mana dia tahu itu earnings yang you cakap akan keluar memang ok tapi sudah peak dia kata? Kalau sudah peak makna nya QR lepas itu koyak brother. Jadi saya kan trader, bila orang beli saya jual lor tapi madiba dah kata dia akan jual di paras 22 sen jadi saya tak mahu beli kaunter ini sebab upside limited. Yang saya sudah beli ialah GHL di paras 82 sen minggu lalu yay!


Stock: [GHLSYS]: GHL SYSTEMS BHD
Feb 12, 2015 05:23 PM | Report Abuse

Ok sudah masuk round ketiga 81-82 sen. Wakakaka untung akan mali cepat cepat!


___________________-

GHL adalah King Kong, Mpay adalah monyet kecil, pasti lar saya naik King Kong wakakaka.

_______________

Posted by Suhaimi Bin Mohamad > 2015-03-11 11:22 | Report Abuse

I nak simpan dulu la.... :)

Posted by tssl74 > 2015-03-11 12:24 | Report Abuse

alamak, saya nak jual tapi tersilap dan tekan beli ahhaha...

Posted by shidayea > 2015-03-11 14:05 | Report Abuse

@tssl74..kelakar nyerrr.. peace..

Posted by Nazrin Shah > 2015-03-11 14:18 | Report Abuse

TP utk harini bole cecah 1.00 x rasanya?

Posted by susielow > 2015-03-11 20:15 | Report Abuse

Up five day already. Tomorrow should rest for a while before surplus rm 1. Be patient !!!!!!!!!

Posted by tssl74 > 2015-03-12 08:52 | Report Abuse

ya shidayea!
kalau share ini cost Rm5, pengsanlah I!
haha...

Posted by bolt > 2015-03-12 15:00 | Report Abuse

getting ready to move up

Posted by susielow > 2015-03-12 16:50 | Report Abuse

I already told you all. GHL had to rest for 2 weeks before climb higher. Support at 90 cent. Take profit fisstN buy back later.

Posted by WiseEye > 2015-03-13 08:41 | Report Abuse

Need more good news and stellar results

Posted by Nazrin Shah > 2015-03-13 12:03 | Report Abuse

False breakout maybe