Something good will happen to SUMATEC in future.

计算合并案效应 OSK股票应该值多少？

侨丰控股持有2亿5230万股兴业资本股票，或相等於 兴业资本的 9.91%股权，那让我们来计算兴业资本股票起落对侨丰控股的影响。

大众投资银行是第一家跟进计算OSK价值的投行，以昨天兴业资本的闭市价来计算，侨丰控股持有的这批股票，平摊到每股OSK，等於每股值RM2.27。

以RM2.27计算，OSK手上持有的兴业资本股票就价值22亿零吉。

若兴业资本是以1.5倍账面价值成交，其股价将再提高，估计在RM11左右，那到时平摊到侨丰控股，就等於侨丰控股的每股价值是RM2.63，这还不计算侨丰控股的产价业价值（约每股42仙）。
大众投资银行的估算很清楚，那就是RM2.63加42仙，那就相等於每股RM3.05，这和今日中午的RM2.18还有很大距离。

＂如果管理层决定继续收住这批兴业资本股票，那这只是OSK的一项潜在价值，如果管理层决定套现，那对股东才是真正喜讯。



我国银行业掀起第三波合并风，公积金局EPF是兴业银行及马建屋银行大股东，该局相信是主导这宗合并案的主要推手。

公积金局目前持有兴业资本41.34%股权，持有马建屋银行65.02%股权。

合并之後，公积金局将持有联昌银行集团的25%股权，合并之前，公积金局持有联昌国际的14%股权。

这三家银行合并之後，将超越马来亚银行，成为最大的银行集团。
这三家银行将会向国家银行正式提出合并洽谈的申请，若合并完成，三家银行的资本规模将达900亿零吉。

Buy first better.

I copy add fr Bursa Malaysia.

sapu.

KNM should be exceed rm1.06 today I think.

Second TP will test at RM1.10 above for today.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1681733

Hope second ground will close at rm4.00 or more than that.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1682665

Stay in TA better.

Uzma has juz end the uptrend.
这几天应该会是DELEUM的表演。

For investors who been collected at below RM1.00, CONGRATULATION !

Tomorrow RHBCAP, MBSB & OSK really is going to bull & bull !

在获得工程合约里& Forecast Profit Earning，MITRAJAYA是算最好的小型建筑股.

http://www.chinapress.com.my/node/542125.
I think EPF know what good things / news for KNM in future vs RAPID !

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1680353

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1680341

rm1.00 is posible to reach in near term .

Today OSK TP should be at or exceed rm2.27 !

公司的股票企业活动。

Once break rm1.06, the next will be at rm1.10 for today.

will reach rm4.00 soon.

Uzma up first, ...follow by Deleum soon.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1680285

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1680697

Thx. Good to accumulate TA in future gain.

Secondly, executing the Peterborough project in 3-years’ time
would transform its current cyclical business model to one with a
more recurring income base.

With an 18MW (Phase 1) waste-toenergy
plant, KNM could generate MYR40m-MYR50m in net profit
p.a. from FY17, based on a 10% IRR and 80% equity stake. Total
capacity is 80MW.

Looking ahead, we see two clear catalysts emerging.

Firstly, KNM is
a direct proxy to RAPID.

With seven major tenders worth e.MYR60b
in the pipeline, the addressable process equipment bid size is
MYR18b (over a 4-year period).

Assuming a 20-25% win rate, KNM’s
potential RAPID orders of MYR4b-5b (MYR1b p.a.) would improve
its annual orderbook by 50% to MYR3b (4-5 years visibility).

KNM has reformed, refinanced, reorganised and is ready to grow.
It has restructured its businesses and reduced OPEX by MYR20m-
30m p.a. from the disposal of its loss-making Brazil operations in
Sep 2013 and downsizing its global workforce.

It has since nursed
its balance sheet to a healthier position.

The refinancing of its
short-term debt has resulted in interest savings of MYR13m p.a.,
while its recent private placement raised another MYR103m. Its
net gearing is currently a more manageable 0.4x.

These events
have helped KNM to rebuild its growth path and recoup MYR33m-
43m p.a., lowering its OPEX to MYR280m (-7%) p.a.

KNM is a turnaround story with earnings to expand at CAGR of 55% from 2014 to
2016.

We expect P/E to fall further to 9x in FY16.


Hence, we initiate the company with a target price of RM1.35 based on 16x FY15 P/E,
premium to its peer of average target of 14-15x given its strong earnings growth
prospect (CAGR of 55% from FY14-FY16.

In our scenario analysis,

our base case scenario assumes 12% market share on the
total RM18bn potential RAPID contract for KNM.

By pegging at 16x P/E, we expect our
bullish case target price (TP) to reach RM1.55 while worst case TP of RM1.18 per
share still offer 31% upside from current price.

We have forecasted KNM’s revenue to grow by CAGR of 13% from FY13 to FY16
mainly due to potential contract win from RAPID.

Net profit is expected to grow at
stronger pace with CAGR of 74% from FY13 to FY16 as EBITDA margin is projected to
improve from 10% to 11.7% in the same period due to;
i) lower financing cost; and
ii)
cost saving from the disposal of loss making Brazil business.
Our key assumptions are shown in Figure 16.

Balance sheet is expected to improve
further with net gearing to fall from 0.33x in FY13 to 0.16x in FY16 which provides
strong financial muscles to bid for more contracts and undertake the EnergyPark
Peterbough project.

Financial Forecast
Total latest orderbook book stand at approximately RM2bn (~1x of FY13 revenue).
Historically, the company’s annual orderbook replenishment rate has averaged around
RM2bn since 2012 even though RAPID has not commenced.

EnergyPark Peterborough is Game Changer

To recap, on Dec 2010, KNM has secured RM2.2bn EPCC contract from Peterborough
Renewable Energy Limited (PREL) for UK Peterborough waste to energy project.

KNM
and PREL will each holds 49% and 51% stake in Energy Park Investment Ltd (EPIL)
respectively. KNM purchased additional 31% stake in EPIL from PREL on Jan 2012,
bringing total controlling stake to 80% given the financial difficulties faces by the original
shareholders.

This will provide recurring income for a concession period of 25 years.
UK has decided to halve its greenhouse gas emissions from 1990 to 2027 and to cut
them by a total of 80% by 2050.

For this to happen, significant private-sector investment
in new energy infrastructure such as biomass waste to energy project is needed.
EnergyPark project is right fit into UK vision to deliver 15% of energy demand from
renewable sources in 2020 (from 4% in 2012).

RAPID – Another Mega Contracts

On 4 April 2014, Petronas has approved the final investment decision (FID) for the
development of the Pengerang Integrated Complex (PIC), to be located on 6,424 acres
of land in Pengerang, Johor. The proposed development is anticipated to be bigger than
the combined Petronas existing downstream complexes in Melaka, Terengganu,
Pahang and Sarawak.

Maintain BUY.

Our SOP-derived TP is nudged up to RM1.20 (from
RM1.00) after we updated the effective stake of Little Bay project in
Sydney to 100% (from 50%) and the book value of its broking
business as at end-FY14 (from FY13 previously).

Potential M&A story.

TAE’s stockbroking franchise stands out
among the remaining players because of its sizeable market share
(6% of market volume) and strong retail base.

Consolidation among
brokers has been apparent with increased competition where
valuation benchmarks have been between 1.1-1.9x BV.

Assuming a
cash offer of 1x P/BV and based on book value of RM820m (as at Jan
2014) for its broking and credit & lending business, this works out to
be RM0.48 per share which can be distributed back to shareholders
via special dividends.

Hope will run at rm1.00 - rm 1.06 today !

DELEUM, this counter din have any warrant or call warrant.
It easier to go up anytime ----RM3.00 above !

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1678893

Maybe change New CEO, DAYA will much better than b4.

Macam nak rebound soon.

YES.

TP rm2.75 - rm 3.00

http://www.nanyang.com/node/633115?tid=462

http://www.nanyang.com/node/633115?tid=462

Will test Rm1.00 !

yes.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1676385

http://www.thestar.com.my/Business/Business-News/2014/07/04/GBH-up-on-OG-venture-plan-Counter-emerges-as-one-of-Bursas-top-gainers-hits-multiyear-high-of-RM243/

http://www.chinapress.com.my/node/540316