ONLY WORLD GROUP HOLDINGS BERHAD
KLSE (MYR): OWG (5260)
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Last Price
0.375
Today's Change
0.00 (0.00%)
Day's Change
0.00 - 0.00
Trading Volume
0
IPO Info
Offer Period
Opening
2014-11-26
Closing
2014-11-26
Time Table
Allotment Date
2014-12-15
Listing Date
2014-12-18
Price
Issue Price
0.88
Units
185,000,000
Share Capital
0.000
No of Shares
Public Issue
56,408,900
Offer for Sale
-
Private Placement
43,158,900
Issuing House
TIIH-657
ISIN Code
MYL5260OO004
Prospectus:
RENOUNCEABLE RIGHTS ISSUE OF UP TO 160,259,996 NEW ORDINARY SHARES IN ONLY WORLD GROUP HOLDINGS BERHAD ("OWG" OR "COMPANY") ("OWG SHARE(S)") ("RIGHTS SHARE(S)") AT AN ISSUE PRICE OF RM0.21 PER RIGHTS SHARE TOGETHER WITH UP TO 80,129,998 FREE DETACHABLE WARRANTS IN OWG ("WARRANTS B") ON THE BASIS OF 2 RIGHTS SHARES TOGETHER WITH 1 FREE WARRANT B FOR EVERY 5 EXISTING OWG SHARES HELD BY THE ENTITLED SHAREHOLDERS OF THE COMPANY AT 5.00 P.M. ON 3 NOVEMBER 2020 ("RIGHTS ISSUE WITH WARRANTS")
Discussions
8 people like this. Showing 50 of 2,991 comments
OWG: The worst is likely over
A victim of Covid-19. Listed in the Main market since 2014, OWG Berhad (OWG) is an investment holding company that manages and operates F&B and leisure-related brands found in popular resorts and shopping malls. The group's F&B outlets, water amusement parks, and family attractions are strategically located in tourist attractions, such as Genting Highlands, Komtar Tower at Penang and Klang Valley.
As the group business is primarily involved in the tourism industry, the onset of Covid-19 has heavily affected the group's operation. The decline of business volume from its Food service operation as well as the Amusement and recreation operation has whipped 79% of its FY19 revenue of RM123m to RM25m in FY21. In turn, the group chalked into red in FY20 (the first loss-making FY since it was listed), and the loss expanded further to RM42m in FY22. Nonetheless, we see the return of tourism following Malaysia's transition toward endemicity as a turning point for OWG as it will drive more footfall to its F&B outlet and family attractions.
A comeback. As of 21 June, Malaysia has already surpassed its full-year target of 2m incoming tourist arrivals. Genting Highlands, where most of its outlets are located and made up 40% of OWG's bottom line back in 2019, has seen its footfall gaining traction supported by (i) pent-up demand for travel, (ii) the depreciation of ringgit, and (iii) the launches of GentingSkyworld theme park. We flag that the group turnaround 3QFY22 (report until 31 March) had yet to reflect the strong return of foreign tourists as Malaysia only reopened its international border on 1 April 2022. In view of solid recovery momentum (2H seasonally stronger earnings), we expect greater business volume in its F&B outlet and family attractions and thus better earnings going forward.
HLIB 26 July 2022
2022-08-26 11:08
Outlook
Genm Outlook :
GenM has finally returned to black mainly driven by capacity ramp up and increase in footfall from subsided Omicron wave and foreign visitors from border reopening. Looking ahead, the recovery trajectory should continue for RWG from (i) hotel capacity ramp up (room available as at July was 7.6k vs. 6k in June); (ii) theme park capacity ramp up (3 more rides by 4Q22); and (iii) increase in foreign visitations as more countries relax their border restrictions. The current weak local currency should bode well for foreign visitations. Furthermore, the opening of SkyWorlds theme park also allows RWG to attract a large and previously untapped Muslim market which represents c.63% of Malaysia population. GenM will be able to harness the full potential of SkyWorlds in 2H22 as capacity ramps up. The increased footfall to the theme park should have a positive spillover effect to the other venues in RWG
HLIB 26 Aug 2022
2022-08-29 10:06
me no sifu la no money to pay if give buycall. u see today how? where this stock heading to?
2023-04-03 15:58
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OWG upgraded to trading buy
2022-03-21 11:55