Posted by limch > 2 months ago | Report Abuse

Ex owner Ng Kweng Chong if buy back(because cash rich with RM 140 million selling at RM 2) can silence all critics.

Posted by zoizai > 2 months ago | Report Abuse

From last qr- Other receivables, deposits and prepayment ballooned to 65m

Cash reduced

Posted by limch > 2 months ago | Report Abuse

Is it because of investment in new product(to counter sales drop)?

zoizai

From last qr- Other receivables, deposits and prepayment ballooned to 65m

Cash reduced

Posted by SCM2023 > 2 months ago | Report Abuse

This company still has good fundamental.

Posted by limch > 2 months ago | Report Abuse

Latest TP RM 0.97.
https://klse.i3investor.com/web/pricetarget/research/72569

Posted by limch > 2 months ago | Report Abuse

Globetronics Technology - Gestational costs from new projects to drag margins
Date:
2024-09-03
Firm:
AmInvest
Stock:
GTRONIC
Price Target:
0.97
Price Call:
HOLD
Last Price:
0.565
Upside/Downside:
+0.405 (71.68%)
Investment Highlights
We maintain HOLD recommendation on Globetronics Technology (GTRONIC) with a lower fair value of RM0.97/share (from RM1.18/share), based on FY25F PE of 19x, in line with its 5-year mean. We made no adjustments to our neutral 3-star ESG rating.
We cut our earnings forecast for FY24F/FY25/FY26F by 45.9%/27.8%/25.3% to factor in a slower-than-expected recovery in orders amid an anticipated slowdown in global economic growth.
We maintain a cautious view of the company post-results briefing. Key takeaways are as follows:

Near-term outlook for its existing business remains lukewarm as management expects weak volume loading from key customers over the next 2 quarters. Factory utilisation rate is expected to remain below 70% for the year.

Management guided that dividend payout ratio will be kept at 20%-30% of net profit as the company will conserve cash for future expansion plans. For FY24F, the company has earmarked RM45mil for capacity and capability upgrades for new segments such as medical, network/communication and automotive components.

Moving forward, management has set aggressive capex spending as the company is working on new projects which include memory packaging and light sensors for automotive segment. Management also shared that the company plans to move up the value chain by venturing into advanced packaging for silicon photonics system.

That said, contribution from new projects will only be reflected from FY25F onwards. We believe our revised earnings forecast has sufficiently factored in the potential earnings from the new segments, which partially contribute to the doubling of FY25F revenue.

With more investments being spent on these new projects, Globetronics’ margin profile over the next 2- 3 years is expected to be diluted as gestational cost from the expansions will be incurred to drive growth moving forward.
From a valuation perspective, the stock is currently trading at a fair 17x FY25F PE, which is below its 5-year mean.
Source: AmInvest Research - 3 Sep 2024
Globetronics Technology - Gestational costs from new projects to drag margins
Date:
2024-09-03
Firm:
AmInvest
Stock:
GTRONIC
Price Target:
0.97
Price Call:
HOLD
Last Price:
0.565
Upside/Downside:
+0.405 (71.68%)
Investment Highlights
We maintain HOLD recommendation on Globetronics Technology (GTRONIC) with a lower fair value of RM0.97/share (from RM1.18/share), based on FY25F PE of 19x, in line with its 5-year mean. We made no adjustments to our neutral 3-star ESG rating.
We cut our earnings forecast for FY24F/FY25/FY26F by 45.9%/27.8%/25.3% to factor in a slower-than-expected recovery in orders amid an anticipated slowdown in global economic growth.
We maintain a cautious view of the company post-results briefing. Key takeaways are as follows:

Near-term outlook for its existing business remains lukewarm as management expects weak volume loading from key customers over the next 2 quarters. Factory utilisation rate is expected to remain below 70% for the year.

Management guided that dividend payout ratio will be kept at 20%-30% of net profit as the company will conserve cash for future expansion plans. For FY24F, the company has earmarked RM45mil for capacity and capability upgrades for new segments such as medical, network/communication and automotive components.

Moving forward, management has set aggressive capex spending as the company is working on new projects which include memory packaging and light sensors for automotive segment. Management also shared that the company plans to move up the value chain by venturing into advanced packaging for silicon photonics system.

That said, contribution from new projects will only be reflected from FY25F onwards. We believe our revised earnings forecast has sufficiently factored in the potential earnings from the new segments, which partially contribute to the doubling of FY25F revenue.

With more investments being spent on these new projects, Globetronics’ margin profile over the next 2- 3 years is expected to be diluted as gestational cost from the expansions will be incurred to drive growth moving forward.
From a valuation perspective, the stock is currently trading at a fair 17x FY25F PE, which is below its 5-year mean.
Source: AmInvest Research - 3 Sep 2024

Posted by ABAabc9854 > 2 months ago | Report Abuse

why worry you want to invest just go ahead

Posted by 8u29song > 2 months ago | Report Abuse

meaning many borrow/taken cash from company ??

Posted by limch > 2 months ago | Report Abuse

Who sell cheap nobody know but can buy cheap is good. If can return to 80 sen-RM 1, can gain >40% to 70% not good meh?

Posted by ABAabc9854 > 2 months ago | Report Abuse

why bother about all crap people posting ,like as if they are working in Gtronics top management or some kind know nuts exec

Posted by OMGstock > 2 months ago | Report Abuse

SerbaDK last time people say has good fundamental loh.

Karim has Power to get projects. Check new management this company linked to SCIB -- to SerbaDK before that, same people.

Posted by limch > 2 months ago | Report Abuse

https://www.thestar.com.my/business/business-news/2024/09/09/ee-firms-confident-about-2h24-performance

Posted by phunkietown > 2 months ago | Report Abuse

Stable down???

Posted by joyvest > 2 months ago | Report Abuse

Changing from the prestigious Auditors of heavy weight ( KPMG ) to another of Auditor of light weight ( UHY ) is sending signal to the investors be it global or local that the Company could be embroiled with fishy transactions and shenanigan dealings , basically, irregularities .

Posted by joyvest > 2 months ago | Report Abuse

These people never learn the lesson from the experience of SerbaDK and behaving like ostrich bearing its head in the hole underground as if nothing was happening . These people are delusional of the highest order.

Posted by Lee Ying Yee > 2 months ago | Report Abuse

if i bought today volume ? i will take over this company ?? if is possible ?

Posted by ocbc > 2 months ago | Report Abuse

from 2.6 can drop so fast till 0.5 means many issues especially CPA resign. Run road fast fast !

Posted by Ryanlim83 > 2 months ago | Report Abuse

Today Gtronic top volume should be around 120 millions shares traded closing time

Posted by cK1973 > 2 months ago | Report Abuse

lets c what will happen next after this downfall .....
55-60 range very tempting.....

Posted by Lukesharewalker > 2 months ago | Report Abuse

Auditors ran away because they know company in trouble and they can't get paid.... 😂

Posted by joyvest > 2 months ago | Report Abuse

O💩B💩

Posted by joyvest > 2 months ago | Report Abuse

Auditors ran away because they know company in deep 💩 and they dont want to be stuck in the 💩 and seen to be colluding with the company.

Posted by semboYan > 2 months ago | Report Abuse

Below 0.50 tmr then time to sapu, ini kalilah

Posted by tpee1999 > 2 months ago | Report Abuse

i sold all my units .... few units only

Posted by joyvest > 2 months ago | Report Abuse

to sell all now or never

Posted by slts > 2 months ago | Report Abuse

Mkt already closed

Posted by Lukesharewalker > 2 months ago | Report Abuse

Today technical rebound only don't get your hopes up. Bear trap

Posted by joyvest > 2 months ago | Report Abuse

The moment when KMPG has resigned , the company is already destined to be doomed. Changing from the prestigious Auditors of heavy weight ( KPMG ) to another of Auditor of light weight ( UHY ) is sending signal to the investors be it global or local that the Company could be embroiled with fishy transactions and shenanigan dealings , basically, irregularities .

Posted by LuckyKoi > 2 months ago | Report Abuse

KPMG is a big international audit company, with high overhead costs and offices all over the world. But why GTronic need KPMG? GTronic only do business in this region, and their offices and factories are local. They’re not like Serba Dinamik or Eversendai, who say their branches in Bangalore or Dubai handle contracts and buy materials there.

Posted by joyvest > 2 months ago | Report Abuse

Then why appointed KPMG in the 1st place ?

Posted by joyvest > 2 months ago | Report Abuse

The moment when the company has downgraded by appointing new auditors of light weight, the company stands to be haunted forever. KPMG will not resign half way if it is due to fees issue. If it is due to fee issues, they would continue to serve their office till the end of the term at the upcoming AGM where they would not seek for re-appointment of another term of office . Their sudden voluntary resignation has delivered a pre-warning to the investors

Posted by NatsukoMishima > 2 months ago | Report Abuse

@
joyvest

10,233 posts

Posted by joyvest > 2 hours ago | Report Abuse

These people never learn the lesson from the experience of SerbaDK and behaving like ostrich bearing its head in the hole underground as if nothing was happening . These people are delusional of the highest order.
_________
If u are so clever u should inform all already not after incident then only hindsight !

Posted by bsinvestor > 2 months ago | Report Abuse

resign half way is a big no no. in normal process auditor will stay until the contract term is reached. then only renego or appoint other auditor ma. best is new appointment approved in agm.

Posted by NatsukoMishima > 2 months ago | Report Abuse

5 sen coming ! Loss all capital !

Posted by Sweetchocalates > 2 months ago | Report Abuse

Lembaga tabung haji has ceased to be substantial shareholder today. The well known big funds like Epf and tabung haji are running away. KPMG is also running away. Gonna be interesting these few weeks.

Posted by zoizai > 2 months ago | Report Abuse

Shoplot auditor resign
EPF selling
Director also sold his shares

Serbadk 2.0

Posted by hng33 > 2 months ago | Report Abuse

Agreed, all insider knows best
EPF sell
LTH sell
Director sell

Posted by fregend > 2 months ago | Report Abuse

all selling who is buying?

Posted by bsinvestor > 2 months ago | Report Abuse

u ? hahaha

fregend

all selling who is buying?

11 minutes ago

Posted by joyvest > 2 months ago | Report Abuse

I am not the insider .I don't have the 1st hand info ( KPMG must have served the company with notice of resignation well before the company was to make annoucement) but you don't have to be so clever to figure out the reaction of significant investors such as EPF Board in the open market. The sudden and unusual exodus of EPF Board was insinuating that something was seriously wrong.As a prudent investor, you should be alert and react according to your intincts( if you have one)

Posted by joyvest > 2 months ago | Report Abuse

It is believed that all the Fund managers of all the significant clients must have their own intelligence units every where including but not limited to audit industry.

The news of voluntary resignation was within their reach and knowledge faster than you and me

Posted by gsi723 > 2 months ago | Report Abuse

it doesn't look safe... with EPF, THj, director all selling.
and it's no longer the former owner that run the com. anymore

Posted by limch > 2 months ago | Report Abuse

Today up who is buying can haters answer? >800 counters down today.

Posted by limch > 2 months ago | Report Abuse

Yesterday volume 86 million traded today even more at 119 million who buy?

Posted by DickyMe > 2 months ago | Report Abuse

Reacting to auditor change is silly.

Posted by zoizai > 2 months ago | Report Abuse

Last chance to sell

Posted by joyvest > 2 months ago | Report Abuse

Change of auditors is no big deal if it is done at the end of their office term ( ie the auditor is not re-appointed) but if the change is done in the middle of their office term ,which is a big deal as it could suggest something fishy is going on....

Posted by Shotthebull > 2 months ago | Report Abuse

New owners need new auditors la. Why so panicky. Its already stated that KPMG has not even started to audit the accounts for YE 24.

Posted by James Ng > 2 months ago | Report Abuse

[转贴] [Video:浅谈GLOBETRONICS TECHNOLOGY BERHAD, GTRONIC, 7022] - James的股票投资James Share Investing
https://klse.i3investor.com/web/blog/detail/general/2024-09-11-story-h469035801

Posted by joyvest > 2 months ago | Report Abuse

Whether KPMG have started the audit 24 is not the issue . The issue is that KPMG are the incumbent auditors who are still serving their legal term and owing the duty of cares to report to the investors independently and objectively until their term expire at the upcoming AGM