3-year earnings CAGR of 3.6%, driven by the capacity expansion to meet the increasing demand for vehicle tyres. That said, we believe that the earnings growth will be mitigated by the normalisation of ASPs in the long term from the current elevated levels. We are positive on the group’s dividend policy, with a target payout ratio of at least 50% of earnings. Given the relatively small market cap and lack of track record, we ascribe a 10.5x FY23F P/E, which is at a discount to the FBMSC’s average trading P/E of 12.5x, implying FV of MYR0.76.
sorry to hear that if u wait further - more to gone - even 50 % to be wiped out Spicy lesson not only u but many innocent newbies - they thought IPO is safe ....NOT ANYMORE Baby ..!
Did some research..in the past three years, none of IPO which falls on the first day, could claw back above IPO price. So I decided to cabut eventho its painful..plus just got to know they're utilising 50% of IPO proceeds to settle their bank borrowings
CAP AYAM IPO..... Of the 68.11M from IPO listing, 37.9M is used to pay bank borrowing. Senfong is like another Sen..that is Senheng - got very high DEBT 50 SEN COMINGG......
I don't think need to worry about demand because Sen Fong's primary client is a tyre factory, can foresee the demand will increase in the end of this year
This is one shitty IPO. Worst among IPO. Go on IPO just to collect money to settle bank loan. Treats the buyer as water fish. Pity those with hard earned 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....
imvu
7,888 posts
Posted by imvu > 2022-07-07 08:53 | Report Abuse
apakah , hijau / merah ?
sector : industrial products & services
share issued : 518.960m
market cap : 389.220m
price : 0.750