make sure got holding power to buy at this price as he may force ur out before he move again. dont forget he has big line in Kenanga (was told by KNN Ppl) via layhong
haiz, famous operator in malaysia now. example for stock he is in (not sure correct or not but was given by friend from Knn), layhong, MMAG, SGB, Yen Global, Titijaya, Sygal
Kenanga's target order book replenishment projection for FY2017 = RM400m is a baseless comment !!!
Hence Kanange's TP of 0.485 based on 9.0x FY17E PER is baseless !!!
What if FY2017's order book replenishment acheived 2bil ?
Why Kenanga use PER 9x ?? While PER for Construction Sector is 16x now ?? And Construction Sector is the only sector that benefit the most from our Budget and Election Window Dressing !!! No way PER can drop to below 10 when that sector is booming !!!
By the way, last year or before Sep 2016, who got dream to do projection Pesona's FY2016 order book replenishment can acheived 1.8 bil ??
Now announcements out already (to date this year = 1.8 bil) then only project FY2016 = 1.9 bil !!!
My frend say the everything which KM LEE very the cun is now the here and the minor gap
The next upper hurdle is expected at the 54.5 sen-55 sen range, followed by the 58.5 sen level but we reckon the bulls may seize the opportunity and ride on the current wave to at least fill the 63 sen-64 sen minor gap or challenge the 65.5 sen heavy-resistance line.
the counter seems overvalued now unless they can solve the low margin problem. their property construction margin at 4-5% is even lower than those major infra ones. let's see if their margin improves in the coming quarters. if not, 2b order book spread over 4 years x 5% margin, annual profit is only 25m. 400m market cap seems a bit overstretched
My frend say tis the better the calculate than the Kenanga
Construction 2,300,000,000 ÷ 3.5 × 6.5% = 42, 714,285 per year
Concession 10,000,000 per year
Total the PAT 52,714,285 per year
52,714,285 ÷ 654,659,000 = EPS 0.080521744
0.72 PE 9 0.80 PE 10 0.88 PE 11 0.96 PE 12 1.04 PE 13
Using the very low PAT % n the BEFORE the another potential 2 concessions n the more contract wins
Consequently, this has beefed up their outstanding order book to a record high of RM2.3b, which comfortably provides strong earnings visibility to the group for the next 3-3.5 years.
Building up its first recurring income stream and more to come… Apart from its construction business, PESONA is striving to build up a recurring income stream that would help mitigate the cyclical risks in the construction sector. Hence, they are currently venturing into their first concession business, which entails the development and maintenance of student hostels in Universiti Malaysia Perlis (UNIMAP) through the acquisition of SEP Resources S/B for RM29.2m. The acquisition of SEP would take place in two tranches by acquiring 70% of SEP in the first tranche by FY16 while the remaining 30% would be completed by FY17 should they be able to get approval for the waiver on the Bumiputera ownership requirements. The concession is expected to generate average yearly PAT of c.RM10.0m for the next 20 years (FY17 onwards). SEP aside, PESONA is still eyeing for two other potential concessions (refer overleaf for more details).
That research done by kenanga really bullshit..what it said in theory is right..but market response never because of this..is all about the perception of investor about the future of this company..fund house sucks..tts y mutual fund don earn money..
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....
Warren_Investor
84 posts
Posted by Warren_Investor > 2016-11-16 11:03 | Report Abuse
Fantastic, 0.555 all sapu!!!