Posted by 1502927130032254 > 2019-07-05 13:25 | Report Abuse

Ding ding plane ready to take off afternoon

Posted by kk7198 > 2019-07-05 14:04 | Report Abuse

@Newplayer286, Uwc net profit margin at 23.03% is considered high n the nature of business is promising.Anyway just wait for a favourable report from Miss Mabel.

Posted by milo > 2019-07-05 14:31 | Report Abuse

So difficult for Miss Greatech to hit 1.20x

Posted by milo > 2019-07-05 14:34 | Report Abuse

I waiting!!!!

Posted by kk7198 > 2019-07-05 14:35 | Report Abuse

deMusangking is lustfully waiting for free ahmoiing!!!

Posted by Newplayer286 > 2019-07-05 14:37 | Report Abuse

Ok thanks @kk7198

Posted by kk7198 > 2019-07-05 14:43 | Report Abuse

Maybe next week lah ,deMusangking could get his high heeled shoes ahmoi fulfill.

Posted by milo > 2019-07-05 15:00 | Report Abuse

Now I see many player q to sell. All going for new IPO I think.

Posted by kelvin > 2019-07-05 16:25 | Report Abuse

a ipo that rise from 0.635 to 1.18, if you still loss money, means your skill got problem.

Posted by bojed > 2019-07-05 20:34 | Report Abuse

kelvin a ipo that rise from 0.635 to 1.18, if you still loss money, means your skill got problem.
05/07/2019 4:25 PM

-----------------------------------------------------------------------------

Yup.

Or it could be because they're hardcore contra players lol!

Posted by Mabel > 2019-07-05 23:58 | Report Abuse

@kk7198 Miss Mabel, have you finished your research on UWC? Thank you.

kk7198,
Here is something for you to think about….

https://www.theedgemarkets.com/article/uwc-aims-raise-rm574m-main-market-ipo

Date
Open to apply: 17/06/2019
Close to apply: 28/06/2019
Listing date: 10/07/2019

Share Capital
Market Cap: RM300 mil
Shares Issue: 103 mil shares (IPO 70 mil, Company Insider & placement 336 mil)

Business
Provision of precision sheet metal fabrication, value added assembly services, & precision machined components.

Geo
Msia: 50.9%
S'pore: 40.5%
USA:2.5%
China:2.8%
France: 2.0%
Others: 1.3%

Fundamental
Market: Main Market
Price: RM0.82 (eps: RM0.063)
P/E & ROE: PE13, ROE20.2%
Cash & fixed deposit after IPO: RM0.142 per shares
NA after IPO: RM0.229
Total debt to current asset after IPO: 1.58 (Debt: 64.482 mil, Non-Current Asset: 23.86 mil, Current asset: 40.622 mil)
Dividend policy: 20% on PAT dividend.

Financial Ratio
Trade receivable: 88 days
Trade Payable: 60 days

Past Financial Proformance (Revenue, EPS)
2018: RM136.495 mil (eps: 0.063)
2017: RM92.158 mil (eps: 0.0032)
2016: RM76.311 mil (eps: 0.023)

Net Profit Margin
2018: 22.9%
2017: 16.1%
2016: 25.4%

After IPO Sharesholding
UMC Capital (Ng Chai Eng & Lau Chee Kheong) : 52.6%

Director Remuneration for FYE2019 (from gross profit 2018)
Dato' Ng Chai Eng: RM971k
Lau Chee Kheong: RM971k
Dato' Wan Hashim Bon Wan Jusoh: RM58k
F'ng Meow Cheng: RM29k
Lio Chee Yeong: RM29k
Total director remuneration from gross profit: 4.8%

Use of fund
Purchase of new machines & equipment: 56%
Repayment debt: 31.3%
Working capital: 5%
Listing expenses: 7.7%

Competitor (PAT Profit Margin)
Frencken: 8.1%
Kobay Technology: 6.2%
Alpha: 10.1%
UMC: 17%

Industry Analysis (CAGR 2015-2018, base year 2018)
CAGR of industry 6.9%

Machinery Utilisation
Oversall Utilisation: 85%

Conclusion

Good thing is:
1. PE13 & ROE20 is healthy.
2. Half revenue is from foreign site, at least not too depend on local revenue.
3. Revenue & EPS increase over 3 years.
4. Net profit margin have around 20%.
5. The needs of the industry product still continue growing CARG 6.9%

The bad things:
1. Debt is too high compare to their current asset.
2. Director fees over 3% of gross revenue.
3. IPO funds 31.3% use for pay debt.

Conclusions

Overall the business is growing. However, it remains highly dependent on 5 key customers for its financial results in the future. In addition at this moment there is an absence of long-term contracts. Pricing to me is on a high side to me when I compare it to my prevailing Masteel and Prestar.

For me I have already two steel related company with another Blue Form offer coming in the pipeline from Prestar i.e. Tashin. It’s going for listing on 1st of August 2019 at 0.58 cents. Hence for me, I will not bid for this IPO since I have 3 already.

Hope the above information is useful to take the next step..

So, back to your question : ‘Should I subscribe to UWC Bhd’s IPO shares?’

It's actually your call bro.. All the best !

Posted by Albukhary > 2019-07-06 00:05 | Report Abuse

THANKS FOR YOUR SHARING MS MABEL.

looking forward for your analysis on I-stone.

Posted by Mabel > 2019-07-06 00:07 | Report Abuse

@ Richard KH Wong @Mabel What do you think of stock Revenue, Nanyang said share price will go to 3.24.

Current price is actually in line... with potential upside of 36%...Max 2.23...

The company as it is a rare proxy to the robust domestic e-payment industry which undergoing multi-year of secular growth. Near-term catalyst for the company is its potential of transfer to main market listing next year....hence this could be the reason why Nanyang think it can go up to 3.24..

All the best !

Posted by Depeche > 2019-07-06 05:18 | Report Abuse

Touched 1.19 yesterday...new tp by one analyst is 1.38....GREATTT.

Posted by kk7198 > 2019-07-06 06:16 | Report Abuse

Thank you , Miss Mabel.I may not buy on listing, it's pricey n will keep Greatec.Have a nice weekend.

Posted by Mabel > 2019-07-06 07:51 | Report Abuse

Same to you kk7198!

Posted by Mabel > 2019-07-06 07:56 | Report Abuse

@ Albukhary THANKS FOR YOUR SHARING MS MABEL.

looking forward for your analysis on I-stone.

----

Albukhary,

I Stone Business is Manufacturing automation business machinery & distribution of hardware & software. Hence it's a competitor to Greatec.

Past Financial Proformance (Revenue, EPS)
2018: RM67.591 mil (eps: 0.0092)
2017: RM60.381 mil (eps: 0.0067)
2016: RM43.127 mil (eps: 0.0039)
2015: RM44.124 mil (eps: 0.0033)

Net Profit Margin
2018: 17.0%
2017: 14.2%
2016: 10.9%
2015: 9.3%

Use of fund
Process & Product Development: 10.7%
Pay Debt: 34.5%
New D&D centre: 17.4%
Capital expenditure: 13.3%
Working capital: 15.1%
Lising expenses: 9%

Competitor (PE & ROE)
AT: Loss making.
Genetec: PE9.12 ROE7.41
Greatec: PE12.47
MMSV: PE19.26 ROE11.23
PIE: PE13.5 ROE8.54
Penta: PE19.71 ROE18.46
Vitrox: PE30.23 ROE24.88

Industry Analysis (CAGR 2015-2018, base year 2018)
CAGR: 34.99%

Good thing is:
1. ROE19.5 is healthy.
2. Revenue is growing over 4 years.
3. Net profit margin is over 15%
4. The industry of their business is growing with CAGR 34.99% since 2015.
5. Competitor able to trade with higher PE.

The bad things:
1. No fixed Dividend policy
2. Listing in Ace market.
3. Director fees is over 3% from gross profit.
4. Use 34.5% IPO fund to pay debt.
5. Expensive then country PE16.5, the company is PE17.39 (in prospecture book is PE13.91, using ESP 0.0115 which is before add in additional enlargement shares is not acceptable).

Conclusions
Overall is a average IPO. Able to see the growth & need of the automation to replace human labor in business processing. However investor need to aware that total add in enleargement shares is 1221.48 mil shares, but PE arriving by prospectus book is using 997.18mil shares.

All the best!

Posted by Tomatoman79 > 2019-07-06 08:18 | Report Abuse

price is too high. when music stop, who left at top die la

Posted by kk7198 > 2019-07-06 08:24 | Report Abuse

Wow! Ms Mabel, fast and detailed report.You gonna be one of the best analyst in town.I remembered Mr Choong (was murdered)of Kumpulan Sentiasa Cemerlang as a reliable analyst.He liked to promote Hartalega n glove counters.He bought many Hartalega shares n I made a lot from Hartalega.Of course my friends are close to the boss., Kuan Family.They are honest n humble businessmen.You can buy n keep for longterm should the price come down.Many investors have become rich in investing Hartalega.

Posted by kk7198 > 2019-07-06 11:32 | Report Abuse

Why not? Musangking, you let her to manage your share portfolio; sure got weekly free ahmoiing.

Posted by northeasttrend > 2019-07-06 18:19 | Report Abuse

wow...the comments here are very informative!

Posted by northeasttrend > 2019-07-06 18:19 | Report Abuse

Thks a lot Mabel for the analysis of IStone & UWC

Posted by northeasttrend > 2019-07-06 18:21 | Report Abuse

I think IStone ride on the right trend now...esp after the great Greatec ipo that day

Posted by miker > 2019-07-06 18:40 | Report Abuse

If i'm not wrong, in 2018 there is news, that mentioned one of i-stone customers is dyson. PBT is promising compared to company size...

Posted by northeasttrend > 2019-07-06 19:33 | Report Abuse

yup Miker, dyson is their largest customer...high dependency

Posted by Richard KH Wong > 2019-07-07 12:32 | Report Abuse

@Mabel Thks for your analysis of Revenue. Happy weekend! :D

Posted by Huchiewneng > 2019-07-07 18:39 | Report Abuse

Thank you greatech you lift up my life because of u i am somebody

Posted by Blackhole > 2019-07-07 21:45 | Report Abuse

Hi guys, any good incoming ipo recommended?

Posted by Albukhary > 2019-07-07 23:27 | Report Abuse

THANK YOU MS MABEL AGAIN FOR YOUR ANALYSIS ON I-STONE.

MAY THE WEALTHINESS AND HAPPINESS BE WITH YOU.

Posted by Mabel > 2019-07-08 00:44 | Report Abuse

Aameen!

Posted by apolloang > 2019-07-08 00:48 | Report Abuse

stone already kena PN17 now come I-stone pula? why not A-stone then B-stone then C-stone and etc......tipu ini bursa old counters close then newcomers come and replace the old one that retailers stuck

Posted by apolloang > 2019-07-08 10:12 | Report Abuse

oh no greatec crash ar? lose 1.5k cutloss…..lose so much.....hahaha

Posted by HantuKopi > 2019-07-08 10:16 | Report Abuse

greatec can in later? gotta see around 3pm. drop a lot just now

Posted by dragonfoo > 2019-07-08 10:18 | Report Abuse

sell sell sell

Posted by Bursa1575 > 2019-07-08 10:25 | Report Abuse

Time to play the game https://youtu.be/FYmm5YQSv2I

Posted by milo > 2019-07-08 10:35 | Report Abuse

Hold hold hold

Posted by 1502927130032254 > 2019-07-08 11:18 | Report Abuse

wah nice game

Posted by 1502927130032254 > 2019-07-08 11:24 | Report Abuse

Nice rebound good job dude

Posted by bojed > 2019-07-08 11:32 | Report Abuse

GT is king!

Posted by 553871575098935 > 2019-07-08 11:33 | Report Abuse

Nice rebound for Greatech dan Dsonic.

Posted by 1502927130032254 > 2019-07-08 12:02 | Report Abuse

Greatec too many supporters......congrats !!!!

Posted by 1502927130032254 > 2019-07-08 14:14 | Report Abuse

It’s great Greatec

Posted by 1502927130032254 > 2019-07-08 15:06 | Report Abuse

Greatec going to chase high

Posted by Ling Kee man > 2019-07-08 16:01 | Report Abuse

London bridge is falling down.RUN

Posted by kk7198 > 2019-07-08 16:34 | Report Abuse

Bought at 1.10 for the third and last time. Greatec is still rocking steady.

Posted by bojed > 2019-07-08 17:13 | Report Abuse

-5 sen and yet I'm still gaining on paper lol rock on Greatech!

Posted by Depeche > 2019-07-08 19:27 | Report Abuse

A little retracenent only...Did not sink into the abyss like some goreng counters.

Posted by Richmore > 2019-07-08 21:17 | Report Abuse

Hi Mabel, how to contact you

Posted by Ling Kee man > 2019-07-08 22:19 | Report Abuse

The selling power is strong and support is weak

Posted by trap666 > 2019-07-09 00:19 | Report Abuse

DI DIao already sold it..you all better sell oso !