Now warming up, later pecut to sky

Can start to monitor

Net cash company. Dyson theme

MACD golden cross. Dyson theme. Gogogo.

Small penta go go go... Double digit growth next year

Wah Seong Corp Bhd
(Nov 22, RM1.26)
Maintain buy with an unchanged target price (TP) of RM1.50: The third quarter of financial year 2019 (3QFY19) results were ahead of our expectation due to stronger-than-expected associate earnings and lower taxes but in line with consensus. We raise financial year 2019 estimated (FY19E) earnings by 19% and remain positive on Wah Seong Corp Bhd’s prospects. Order book visibility is rising and Wah Seong is a key beneficiary of higher: i) engineering and fabrication; and ii) pipe-coating works. The former will lead growth in FY20 while the latter will feature prominently from FY21. Our TP is unchanged, pegged at 10.9 times FY21 price-to-earnings (P/E), its three-year mean to factor a pickup in industry order book visibility.

Wah Seong’s core net profit of RM17 million ( 31% quarter-on-quarter [q-o-q]; -44% year-on-year [y-o-y]) took cumulative nine-month period of financial year 2019 (9MFY19) core earnings to RM49 million ( 36% y-o-y), 94% of our initial FY estimate of RM52 million. Contrary to our initial expectations of a flat sequential performance, the q-o-q strength in 3QFY19 was driven largely by higher associate profit ( 73% to RM6 million due to higher contribution from its 26.9%-owned Petra Energy Bhd) and lower taxes (-69% to -RM3 million).

We raised FY19E earnings by 19% to RM62 million post 3QFY19, taking into account mainly the higher associate profit ( 150%). We expect a weaker 4QFY19 (-24% q-o-q), due to seasonal softness with its Nordstream 2 operations ending in January 2020. Our FY20-21 estimates are unchanged.

We see Wah Seong capitalising on the resurgence in offshore engineering and fabrication orders, particularly for process equipment modules as it rides on the strong floating production, storage and offloading (FPSO) order pipeline in 2020. That segment could add about US$300 million to US$450 million (RM1.25 billion to RM1.88 billion) to its order book. Its pipe-coating prospects will feature prominently in 2021, with its 60:40 Qatar operations (US$300 million) alone contributing from FY21-23E. — Maybank IB Research, Nov 22

Ah seong coming

Good volume and price coming

Breakout and go higher

Tyyap said this is a good company, but he dun have the chance to buy cz it is never drop. Good to hear!!

Normal la.. Klse ma. Even solarvest can increase 115% in 1 day.

Big tanker at 0.705

TA view. Gonna break new high soon

Stand firmly at MA60

Drop more and collect more. 5G theme company. Hoho

Gaolat.. Next quarter also gg

Prospect: The Board and the
management expect the situation to remain challenging in view of the global economic slow down

Wahhhh, booommmmm

Ok, time to drop

Standing at MA200 firmly. Climb higher

Gg pharma QR. So low profit

Steadily go up.. Baby penta... Gogo RM4

Now goreng ECRL theme

KUANTAN (Nov 19): The state government has started the process of acquiring land for the East Coast Rail Link (ECRL) project in the state on Oct 30, after it was postponed on July 3, the Pahang state legislative assembly was told today.

Menteri Besar Datuk Seri Wan Rosdy Wan Ismail said, in total, the ECRL project in Pahang which will pass through Kuantan, Maran, Bera and Temerloh will involve 978,767 hectares of land from various land status.

“This will include 379,184 hectares of state government land, private land (542.58 hectares), forest reserves (44,074 hectares) and Federal land (12,929 hectares),” he told the assembly in Wisma Sri Pahang here.

Wan Rosdy said this in reply to a question from Mohd Sofian Abd Jalil (PAS-Luit) who wanted to know about the status of the land in Pahang involved in the ECRL project.

Meanwhile, state Human Resources, Youth, Sports and Non-governmental Organisations Committee chairman, Datuk Seri Mohd Johari Hussain, said Pahang athletes who will take part in the Malaysian Games (SUKMA) 2020 will have to undergo a compulsory pre-games doping test six months before the start of the games.

In reply to a question from Datuk Mustapa Long (BN-Padang Tengku), he said the decision was made by the Pahang Sports Council (PSC) to prevent the occurrence of athletes’ involvement in illicit substances.

“This test involves sports that have a high risk of substance abuse especially in the athletes’ food supplements and the test will be fully managed by the Malaysian Anti-Doping Agency (ADAMAS).

He said stern action will also be taken towards athletes who were involved with doping issues such as allowances suspension for both athletes and their coaches so that they will work as a team to avoid the problem.

“The PSC will obtain the full report of athletes with doping issues from the related association and ADAMAS, and based on the report, an internal trial will be held involving the athletes, coaches and associations,” he said.

5G trend coming. Apple - broadcom - FPGroup

Baby penta, baby frontkn

Excellent!!!!

Golden cross ema

Most safe construction counter to enter now since it had released QR last month

Good day to all arbb shareholders.. Apa khabar? Hahahahhahahaha

3,4 trader stop to sell today. Is time to climb up. Hahahahahaha

Double digit growth on next year. Good company to hold

Hope FPGROUP can go higher on this 3rd phase of Elliott wave

Breakout 0.515 and fly

Slowly slowly go up. Itu lah FPGROUP

Alamak, kena atomic bomb today. From profit can Japan, now can only go bangkok... T.T

Once 3,4 lots seller stop selling, then it is time to enter!!!!

Firmly standing at 0.495. Exactly at 38.2% of finobacci line

CMSB holding 20% of KKB and also second largest share holder of KKB. HUAT AR!!!!

CMSB holding 20% of KKB and also second largest share holder of KKB. HUAT AR!!!!

Gg

Buyer so huge, seller volume so low... And yet price still drop.

Please

Please drop more for me to collect

Improving QOQ, losing YOY. Still ok la

Unable to stand firm then form double top amd go holland

Almost 20% drop from peak, release QR then another 20%...yes!!!

11 days continuos drop... Drop more drop more

Sui sui

MACD golden cross