Late QR? hopefully a surprise good result, the ceo is optimistic about the company, but as they have foreign cilents, profits made in FX should increase as MYR is depreciating
Share price likely bearish in short term, but prospects still good and transer to main market is progressing well, they are nett cash position and little debt
KUALA LUMPUR (March 12): Phillip Capital has maintained its “buy” rating on UMediC Group Bhd at 66 sen with a higher target price (TP) of RM1.08 (from 87 sen) and said UMediC’s 6MFY24 core net profit of RM5.3 million (+7.8% y-o-y) was in line with house forecast but missed consensus estimates. In a note on Tuesday, the research house said the sequential earnings improvement was mainly driven by better margins from the manufacturing and distribution segments. “We raise our target price to RM1.08 (from 87 sen) after rolling forward our valuation horizon to FY25, based on unchanged 25x PE multiple.
“We expect the commencement of new factory and product launches to drive stronger earnings delivery ahead. “Key risks include slowdown in medical equipment demand, and the loss of license,” it said.
(UMC) transition to the main market is progressing well on track, according to executive director/chief executive officer Lim Taw Seong.
“We believe that this strategical move is poised to unlock vast new opportunities for us to further growth and expand which underscores our continuous commitment in bringing excellence towards healthcare catering to the evolving needs of the industry,” Lim said in a statement.
“As we continue to expand, we have also started to ramp up our efforts by strengthening our workforce in anticipation of the imminent launch of our new facility slated to commence production in the coming months.
“The new factory will not only double our manufacturing capabilities but also enable us to meet the rising demand for medical consumables globally enabling us to better grow our regional footprint and propel us to new heights,” he added.
annoucement dated 18th April meaning its thursday....2 market days means friday and monday , so tuesday should have been transferred , but today wednesday meaning 4th day already...maybe need to wait further annoucements.
its 2 market days upon annoucement on the transfer date to Bursa...so i think Umedic need to inform the intended transfer date to Bursa first...and after that , 2 days from the date Umedic inform Bursa kot
At this valuation, the company needs to prove its able to grow at a double digit CAGR in order to justify it, if they cant the share price will fall off a cliff and they might not deserve such a high valuation
Fwiw, 25 days ago, I published an article showing where I thought was the Accumulation Zone, which was what I had drawn - I thought it could be within 0.62-0.63. So, I queued to buy at 0.63 and today, my trade was executed. Today's low is 0.625. My position size is small, less than 1% capital, as I consider this a C-grade trade. Nevertheless, good to have skin in the game.
Just curious, did anyone else saw my article and took action?
I note today's range is reasonably wide - 0.625 to 0.655. Price range like this is likely to fool a lot of day traders, or those watching price ticks whilst market is trading. Many times in my past life, I watched price tickers during the day, and got fooled to change my orders to chase. However, nowadays, I just leave it and don't watch price ticks. More often than not, when we don't chase, when we don't care what the outcome of the trade will be, we get better fills, better trading results, better outcome to the growth of our accounts.
For this type of chart, precision matters. I can still be wrong. Price is still downtrending. If it breaks support, then, nothing to do, until price stabilizes. Now, I just follow my plan and queue to sell at what I think will be the Selling Zone and ignore everything else. Plan the trade and trade the plan. Everything else is noise.
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....
faralenz77
1,033 posts
Posted by faralenz77 > 2023-08-02 10:14 | Report Abuse
Sold all. Director continue selling.