It got 2 interesting pointsin this article: - This suggests that some investors have started to take notice of this low-profile company. Annualising the RM3.05mil profit meanwhile would give Wong Engineering an annual profit of around RM12mil, which would make its valuations attractive, points out a dealer.
- Moving forward, observers don’t rule out the possibility of Tiong Nam or its owners privately injecting new businesses into Wong Engineering.
The first point just annualized 3rd quarter profit to 12 months. According to 3rd quarter report, the cumulative 9-months profit is RM3.64mil. However, the 3rd quarter report mentions: The Group expects Quarter 4 revenue to be flat in-line with seasonal trends while raw materials cost is forecasted to increase as metal and steel prices picks up. Looking ahead, the group strives to continue improving its operational efficiency and cost in the backdrop of a competitive business environment as well as continue to diversify its revenue streams into wider industry reach and customer base. On 25 July 2017, Wong Engineering Industries Sdn Bhd, a wholly owned subsidiary of the Company entered into a Sales and Purchase agreement with TN Equipment Rental (JB) Sdn Bhd to sell its investment property, parcels of freehold land together with a four-storey factory bearing postal address No. 4767 Lorong Permatang Pauh, 13400 Butterworth Penang for a sum of RM5,050,000. As at balance sheet date, the asset is classified as Asset Held for Sale as the full transfer of ownership is expected to complete 3 months from date of the agreement. Asset classified as held for sale - RM2,766,000
2nd point is the most exciting prediction. New appointed directors is the hint?
Solid Run + 15%... manufacture of high precision metal stamped parts, precision turned metal components, trading, marketing and retailing industrial and consumer products
The Board of Directors of Wong Engineering Corporation Berhad (“WEC” or “the Company”) is pleased to announce that the Company’s wholly owned subsidiary, WEC Construction Sdn Bhd (“WECC”) has on 31 October 2017 received a Letter of Award dated 30 October 2017 from Havana Solaris Sdn Bhd (“Havana”) to undertake a contract to build 2 Blocks of 37-Storey Apartment (556 unit) Affordable Homes (RRM) and Hawker Centre (31 unit) containing 1) Block A – 28-storey (250 unit), 2) Block B – 28-storey (306 unit), on top of 8-storey car park podium including facilities on Lot 32075, Kuchai Lama Entrepreneurs Park, Mukim Petaling, Wilayah Persekutuan Kuala Lumpur for a contract value of RM 87.5 million (“Contract”).
The Contract shall commence from 16 November 2017 to 15 May 2020 and is expected to contribute positively to the Group' s future earnings.
None of the Directors and or major shareholders of WEC, or persons connected with them, has any interest, direct or indirect in the Contract except for Datuk Haji Muhamad Shapiae Bin Mat Ali (“Datuk Shapiae”), Chairman of WEC. Datuk Shapiae is also a Director of Havana. Datuk Shapiae does not hold any shares in WEC. Datuk Shapiae holds only 1 ordinary share in Havana of which the percentage of shareholding is negligible.
Given the above disclosure from Datuk Shapiae, the above transaction is not regarded as related party transaction pursuant to paragraph 10.08(11)(c) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad.
This announcement is dated 31 October 2017.
Assume project profit margin is: 10% for 2 years 6 months. Hence, estimate each quarter can contribute RM875K or 1cent. One year is RM3.5mil or 3.8cent. 15% for 2 years 6 months. Hence, estimate each quarter can contribute RM1.31mil or 1.4cent. One year RM5,25mil or 5.7cent.
Apple Will Beat The Skeptics and Rise 27%: Guggenheim By Mark Kolakowski | December 6, 2017 — 8:00 AM EST SHARE
ADD TO WATCHLIST AAPL Apple Inc 169.01 -0.37% View Watchlist The iPhone line of smartphones from Apple Inc. (AAPL) will be a major driver of revenue and earnings for the company in upcoming years, according to Robert Cihra, senior technology, media, and telecom research analyst at Guggenheim Partners LLC, as reported by Barron's. The iPhone is riding a wave of "pent-up demand," Cihra writes in recent research report excerpted by Barron's. He forecasts that unit sales will rise by 13%, average prices by 17%, and total sales revenues by 32% in Apple's current fiscal year, which ends on September 30, 2018.
The best day to buy is on Friday, T+4 will be due on 29/12/2017(Friday, next monday is public holiday). BB will sapu the shares 1 day before the QR announcement or the same day. So better buy on Friday as insurance who knows they announce the QR result before 29/12/17. Buy b4 too late......
My target price for this share is RM1.35 for short term, RM1.50 for mid term and RM1.80 for long term.
New IPO: The onshore and offshore support services provider for the O&G industry, Steel Hawk Bhd aims to list on the Ace Market!
MQ Trader 3150 views | 3 d ago
0:17
New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
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....
TY828
70 posts
Posted by TY828 > 2017-10-16 09:01 | Report Abuse
http://www.thestar.com.my/business/business-news/2017/10/14/wong-engineering-turning-around/
It got 2 interesting pointsin this article:
- This suggests that some investors have started to take notice of this low-profile company. Annualising the RM3.05mil profit meanwhile would give Wong Engineering an annual profit of around RM12mil, which would make its valuations attractive, points out a dealer.
- Moving forward, observers don’t rule out the possibility of Tiong Nam or its owners privately injecting new businesses into Wong Engineering.
The first point just annualized 3rd quarter profit to 12 months. According to 3rd quarter report, the cumulative 9-months profit is RM3.64mil. However, the 3rd quarter report mentions:
The Group expects Quarter 4 revenue to be flat in-line with seasonal trends while raw materials cost is forecasted to increase as metal and steel prices picks up. Looking ahead, the group strives to continue improving its operational efficiency and cost in the backdrop of a competitive business environment as well as continue to diversify its revenue streams into wider industry reach and customer base.
On 25 July 2017, Wong Engineering Industries Sdn Bhd, a wholly owned subsidiary of the Company entered into a Sales and Purchase agreement with TN Equipment Rental (JB) Sdn Bhd to sell its investment property, parcels of freehold land together with a four-storey factory bearing postal address No. 4767 Lorong Permatang Pauh, 13400 Butterworth Penang for a sum of RM5,050,000. As at balance sheet date, the asset is classified as Asset Held for Sale as the full transfer of ownership is expected to complete 3 months from date of the agreement.
Asset classified as held for sale - RM2,766,000
2nd point is the most exciting prediction. New appointed directors is the hint?