Recalculation: 102.7 × (113.7 ÷ 100) = RM116.7. Thus, 116.7 ÷ 4 = RM29.3. Why so low? I am expecting a strong first quarter in FY24. With this figure, it is even lower than the 4th quarter of FY23. I still prefer my original calculation.
@gohkimhock Business in China is not so easy, Q4FY2023 there is a impairment of RM11M for China operation, without this impairment profit will be at RM46Million. I would prefer selling more LCO2 to SG and other country. ------------------------- I agreed with the above statement. Wait to see the PAT in Q1 2024, then we should know the projected EPS for 2024. To me, PAT in any quarter of 2024 should > 30 million. Thank you.
With today's closing price of RM2.53, I am now having paper loss already. Why KGB only goes up in the month of results? But never mind, I can hold for the whole of FY2024.
Kelington: Signs addendum with PETRONAS to accommodate increased demand for CO2 plant.
Kelington Group has entered into an addendum to the agreement for the sale and purchase of carbon dioxide dated Nov 17, 2017 with PETRONAS Energy & Gas Trading SB.
In a filing with Bursa Malaysia, the original capacity of the first carbon dioxide (CO2) recovery plant (P1) in Kemaman, Terengganu, is 50,000 metric tons per year. (StarBiz)
they are buying CO2 from Petronas to accommodate for its future expansion plans. It is essential to get an uninterrupted supply for the long term. Good vision from the management.
Posted by gohkimhock > 1 hour ago | Report Abuse KGB - counter of the year for 2024. No doubt. ---------------------- It is so difficult to make money now. Hope all readers here will make a lot of money. Good luck. Thank you.
From : SEE _Research Issued at 1.30pm. , 16 March 2024 / Saturday
Re issued at 8.40 am., 17 March 2024 / Sunday
K G B WB
A. Latest update
on its uptrending mode in the current situation with its unique well positioned in its technical behaviour ___ From 5 March 2024 / Tuesday to another 17 trading days __ 5 April 2024 / Friday onwards The projected price is near to RM 1.36 level.
is buoyed by overwhelming UHP orders, which now make up c.74% of its order book (c.60% in FY23). It is expanding to Hong Kong and Germany backed by new demand. Pending the completion of its second LCO2 plant,
it is acquiring a third one.
it is acquiring a third one.
it is acquiring a third one.
We maintain our forecasts,
TP of RM3.40, and OUTPERFORM call.
TP of RM3.40, and OUTPERFORM call.
TP of RM3.40, and OUTPERFORM call.
We came away from KGB’s post-4QFY23 briefing feeling upbeat about its prospects.
The key takeaways from the meeting are as follow :
1. KGB is seeing early signs of tailwinds forming as demand for its ultrahigh purity (UHP) gas solution has jumped to c.74% of its order book (vs. 60% in FY23).
This upturn aligns with the consensus expectation of a semiconductor demand recovery in 2024.
As a primary beneficiary, KGB is experiencing an uptick in job tender invitations from wafer fabs across China, Malaysia, and Singapore, where it maintains a dominant presence. Furthermore, responding to requests from existing MNC customers, the group is actively bidding for projects in new regions, such as Hong Kong and Germany.
To facilitate this expansion, the group has established a Hong Kong subsidiary and is set to finalise the incorporation of its Germany subsidiary soon.
To facilitate this expansion, the group has established a Hong Kong subsidiary and is set to finalise the incorporation of its Germany subsidiary soon.
Leveraging its status as a qualified vendor with a proven track record, the group remains optimistic about its prospects as it ventures into new markets.
2. Its LCO2 (liquid CO2) Plant 2, with capacity of 70k tonnes/year or 1.4x of Plant 1, has been completed and is undergoing testing and commissioning. The group aims to begin exporting from Plant 2 by midMarch which will alleviate the bottleneck at Plant 1 (running near 100%) as demand continues to increase with a worsening shortage of LCO2 in Asia and the Oceania region. Furthermore, recognising the escalating demand in Indonesia, the group is in the early stages of discussions for the potential acquisition of an LCO2 company in the country, promising further expansion of its overall capacity.
3. The recent upswing in KGB's quarterly results merely hints at the vast potential that is yet to unfold. Our conviction in KGB's prospects is wellfounded, supported by its impressive >RM1.9b tender book, in line with
SEMI's forecast of a 12% recovery in 2024, followed by a substantial 24% upcycle in 2025.
Be it a smooth or bumpy recovery for the semiconductor sector, the group has RM1.3b outstanding orders in its bag to navigate any obstacles that may come along, thereby fortifying its readiness for the next wave. We are expecting another RM1b order replenishment in FY24.
Forecasts. Maintained.
Valuations. We also keep our TP of RM3.40 based on an unchanged 21x FY24F PER. Our valuation represents a c.10% discount to peer’s forward mean PER of 24x which includes global players such as Air Products, Air Liquide and Linde. There is no adjustment to our TP based on ESG given a 3-star rating as appraised by us (see Page 4). Investment case. We like KGB for: (i) it being a direct proxy to the front-end wafer fab expansion, (ii) its strong earnings visibility underpinned by robust order book and tender book exceeding RM1b, and (iii) its strong foothold in multiple markets, i.e. Malaysia, Singapore and China. Maintain OUTPERFORM.
Risks to our call include: (i) delayed in wafer fab expansion plans,
From : SEE_Research Issued on 8.00am., 18 March 2024 / Monday
Who is the largest manufacturers of UHP Gas for Semiconductor Market worldwide?
Taiyo Nippon Sanso Hangyang BOC Air Products Air Liquide Messer Group Linde Group Yingde Gases Huate Gas Jinhong Group ================================================================
Kelington Group Berhad/ 0151
THE NEW BEGINNING
Meteoric Growth from non listed company into Ace Market as first day listed in Ace Market and matured in Main Market of KLSE and now / 2024 into a new diamond into international markets of Europe , Hong Kong and Indonesia .
A. The current 5 years _____ from 2024 till to 2030 ___ K G B has growth opportunities for growth worldwide and is taking the route to have their presence felt by expanding their overseas offices in Hong Kong Germany
And exploring to enter new markets in Hong Kong , Europe , Indonesia users .
Sparrow Publishing House
Icon cart0 HOME BLOG Asia 10 BizVideo 2 Entrepreneurs 23 ePublications 5 Family Business 47 Food 65 Funds & Tech 10 Healthcare 8 New Gen 20 People 13
Kelington Group Bhd. ,
leading Ultra High Purity Gas provider in Malaysia January 18, 2024
FYE 2022 REVENUE RM1.28 BILLION, PRE-TAX PROFIT RM74 MILLION UKM (Universiti Kebangsaan Malaysia) would be proud of producing this engineer entrepreneur,
IR Raymond Gan Hung Heng (59)
who founded Kelington Group Berhad in 2000.
Gan is a professional engineer with the Board of Engineers Malaysia and has prior to setting up Kelington Group, worked with Malaysian Oxygen Berhad, Eastern Oxygen Berhad and M+W Zander Pte Ltd (Singapore).
He holds a Bachelor in Chemical and Process Engineering degree from UKM.
Gan is beneficially interested in 21.06% of the shares of Kelington.
Gan is Chairman and Chief Executive of the Kelington Group.
Kelington had a record year in FYE 31 December 2022 when its revenue exceeded RM1.2 billion (milestone) and it secured new contracts valued at RM1.85 billion. Pre-tax profit was RM74 million.
Kelington engineers solutions that ensure the safe handling of the delivery and distribution of ultra-high purity gases and chemicals all the way from source to equipment to waste disposal. (ie. wafer fabrication).
it also manufactures Liquid Carbon Dioxide (LCO2) and dry ice besides Trading in Specialty Gases. Its key markets are Singapore, China and Malaysia.
Kelington first set up offices in Shanghai in 2002 and Singapore in 2006.
The company was listed in 2009 on the ACE Market of Bursa Malaysia and transferred to the Main Board in 2012.
In 2016 Kelington started the new business of trading in industrial gases and manufacturing LCO2.
The Group's clients are mainly in the electronics and semiconductor industry. Due to the cyclical nature of these sectors, Gan says the Group actively pursues the expansion of its Process Engineering and Contracting division.
From : SEE_Research Issued on 8.00am., 18 March 2024 / Monday
Who is the largest manufacturers of UHP Gas for Semiconductor Market worldwide?
Taiyo Nippon Sanso Hangyang BOC Air Products Air Liquide Messer Group Linde Group Yingde Gases Huate Gas Jinhong Group ================================================================
Kelington Group Berhad/ 0151
THE NEW BEGINNING
Meteoric Growth from non listed company into Ace Market as first day listed in Ace Market and matured in Main Market of KLSE and now / 2024 into a new diamond into international markets of Europe , Hong Kong and Indonesia .
A. The current 5 years _____ from 2024 till to 2030 ___ K G B has growth opportunities for growth worldwide and is taking the route to have their presence felt by expanding their overseas offices in Hong Kong Germany
And exploring to enter new markets in Hong Kong , Europe , Indonesia users .
Sparrow Publishing House
Icon cart0 HOME BLOG Asia 10 BizVideo 2 Entrepreneurs 23 ePublications 5 Family Business 47 Food 65 Funds & Tech 10 Healthcare 8 New Gen 20 People 13
Kelington Group Bhd. ,
leading Ultra High Purity Gas provider in Malaysia January 18, 2024
FYE 2022 REVENUE RM1.28 BILLION, PRE-TAX PROFIT RM74 MILLION UKM (Universiti Kebangsaan Malaysia) would be proud of producing this engineer entrepreneur,
IR Raymond Gan Hung Heng (59)
who founded Kelington Group Berhad in 2000.
Gan is a professional engineer with the Board of Engineers Malaysia and has prior to setting up Kelington Group, worked with Malaysian Oxygen Berhad, Eastern Oxygen Berhad and M+W Zander Pte Ltd (Singapore).
He holds a Bachelor in Chemical and Process Engineering degree from UKM.
Gan is beneficially interested in 21.06% of the shares of Kelington.
Gan is Chairman and Chief Executive of the Kelington Group.
Kelington had a record year in FYE 31 December 2022 when its revenue exceeded RM1.2 billion (milestone) and it secured new contracts valued at RM1.85 billion. Pre-tax profit was RM74 million.
Kelington engineers solutions that ensure the safe handling of the delivery and distribution of ultra-high purity gases and chemicals all the way from source to equipment to waste disposal. (ie. wafer fabrication).
it also manufactures Liquid Carbon Dioxide (LCO2) and dry ice besides Trading in Specialty Gases. Its key markets are Singapore, China and Malaysia.
Kelington first set up offices in Shanghai in 2002 and Singapore in 2006.
The company was listed in 2009 on the ACE Market of Bursa Malaysia and transferred to the Main Board in 2012.
In 2016 Kelington started the new business of trading in industrial gases and manufacturing LCO2.
The Group's clients are mainly in the electronics and semiconductor industry. Due to the cyclical nature of these sectors, Gan says the Group actively pursues the expansion of its Process Engineering and Contracting division.
Executive Director and Chief Operating Officer, Ong Weng Leong (55)
who is also a substantial shareholder of Kelington, holds a Bachelor of Chemical Engineering degree from Universiti Teknologi Malaysia.
He also has a Master in Business Administration from the University of Bath, U.K. Ong has been with Kelington Group for more than 18 years.
He is also a fellow member of Malaysian Institute of Management and was elected as a General Council member of the Institution from 2015 – 2016. He began taking up managerial roles in 1996 while at MOX as the Production Manager after which he became the Operations Manager from 1998 to 2000.
He was promoted to National Engineering Manager at MOX in 2000 and in 2004 was promoted to the National Sales Manager (Electronics) at MOX.
Then he joined Kelington Group.
Director, Cham Teck Kuang (66) a substantial shareholder, is ED of Kelington Engineering (S) Pte Ltd. He graduated with a B.Sc (Hons) Mechanical Engineering from University of Portsmouth, Britain. He started his career in building services and thereafter spent the next 22 years in the semiconductor field particularly in wafer fabs in a leading industrial gas manufacturer in Singapore.
He rose from the rank of a Project Engineer, Project Manager, Senior Manager, Departmental Head, General Manager and the last position being the Director of Project Engineering and Services and Director of E&I, South and Southeast Asia.
He is instrumental for the completion of many of the wafer fab gas system projects in Singapore and the region.
He joined Kelington Engineering (S) Pte Ltd in 2012.
Group CEO Raymond Gan said chipmakers are aggressively expanding production capacity to meet a surging demand for chips, driven by factors like geopolitical diversification and the need for advanced technologies like artificial intelligence (AI), Internet of Things (IoT), electric vehicles and Industry 4.0.
“As these technologies advance, the demand for semiconductor manufacturing facilities remains strong.
"After a contraction in 2023 due to the cyclical nature of the industry, semiconductor manufacturing equipment growth is expected to resume in 2024, with sales expected to strongly rebound in 2025."
this ceo said the industry was in contraction in 2023... deng... contraction u still can deliver good growth... u better perform surprisingly well in 2024... dont simply say say ya... believe u so long already...
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....
ChloeTai
1,081 posts
Posted by ChloeTai > 2 months ago | Report Abuse
Affin Hwang Investment Bank forcasts growth of 13.7%. Expected 1st quarter PAT FY2024 = (113.7 ÷ 100) × 35.7 mil = 40.6 mil.
Now RM2.59/RM2.60
Affin Hwang TP: RM3.25
RHB-OSK TP: RM3.03
Kenanga TP: RM3.40