PublicInvest Research

TECHNICAL BUY: GFM (0039)

PublicInvest
Publish date: Mon, 02 Dec 2024, 09:21 AM
PublicInvest
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An official blog in I3investor to publish research reports provided by PublicInvest Research team.

All materials published here are prepared by Public Investment Bank Berhad. For latest offers on Public Invest trading products and news, please refer to: https://www.publicinvestbank.com.my/pbswecos/default.asp

PUBLIC INVESTMENT BANK BERHAD (20027-W)
9th Floor, Bangunan Public Bank
6, Jalan Sultan Sulaiman, 50000 Kuala Lumpur
T 603 2031 3011 | F 603 2272 3704 | Dealing Line 603 2260 6718

Technical chart: GFM

Key Technical Analysis
Last closing price: RM0.230
Support Level Share Price Resistance Level Share Price
1st Support 0.220 1st Resistance 0.255
2nd Support 0.200 2nd Resistance 0.275
3rd Support 0.175 3rd Resistance 0.295

Description

GFM has nearly 20 years of experience in facilities management.

Fundamentals

As of 30 Sept 2024, GFM's orderbook totaled RM1.06bn, mainly from KP Mukah's UiTM Mukah campus concession (RM767.1m, until 2035) and the JKR FM contract (RM217.5m, until July 2027). Gradual revenue recognition from these projects should support earnings visibility and financial performance until 2035.

Key Financial Data
Growth / Ratio FY21 FY22 FY23
Revenue growth (%) 5.61 13.43 3.63
Normalised net income growth (%) 17.12 83.66 48.27
Return on equity (%) 8.36 12.71 15.76
Return on asset (%) 1.95 3.51 5.05
Price earnings ratio (x) 10.43 0.07 7.09
Price to book ratio (x) 0.86 0.76 1.05
Debt to equity ratio (%) 247.85 177.33 147.90

Source: PublicInvest Research - 2 Dec 2024

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