I see many people mis-used nta for different reasons. NTA should be used to Rate Management performance reflected in market price. Lazy Bankers usually rate management by 10%, 20%, 30% (max) on Top of NTA.
1) 10% -----Expected Kps price should be 1.99 ( end of 4Q20 ) 2) 20%------price should be within 2.17 (end 4Q20 ) 3) 30%------price should be 2.35
We are no-where in 2.0 range which means "nobody" give KPS a rating----no wonder Management wants to take Kps private ( dont give face to management )
I didnt give high 5 for this Qr result bcos its revenue is still under-performance by 30%( maybe i expected too much ) However the economic momentum is rapidly advancing in 4Q20----really a lot of up-side in 4Q20 And spiralling out of control in 2021 / 22
I wonT be surprise if Revenue keeping blasting off like this Qr-----2.50---3.00 range by mid-2021 is almost certain
I think most rating agency just forgot about KPS after Splash was Sold----However it takes time to accumulate "New Industries--CPI + TOYO ( Cenbond is well known )----3yrs----And now KPS is in Business to show its New Portfolio ( Let hope No privatisation )
CPI + Toyoplas qualified for listing....do you know wat is the PE valuation it can command ? just look at mrdiy...to privatize now is not good for us....bcoz the earning potential is enormous....also expecting some positive announcements from SPT on NRW project ...in sgor & kedah...
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JJchan
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Posted by JJchan > 2020-11-29 17:31 | Report Abuse
I see many people mis-used nta for different reasons. NTA should be used to Rate Management
performance reflected in market price. Lazy Bankers usually rate management by 10%, 20%, 30% (max) on Top of NTA.
1) 10% -----Expected Kps price should be 1.99 ( end of 4Q20 )
2) 20%------price should be within 2.17 (end 4Q20 )
3) 30%------price should be 2.35
We are no-where in 2.0 range which means "nobody" give KPS a rating----no wonder Management
wants to take Kps private ( dont give face to management )
I didnt give high 5 for this Qr result bcos its revenue is still under-performance by 30%( maybe i
expected too much ) However the economic momentum is rapidly advancing in 4Q20----really
a lot of up-side in 4Q20 And spiralling out of control in 2021 / 22