welcome

amy898, can get it from the blogger harry sharix, that day i saw his fb live have cover on it.

Thanks Diehardunited, hope the target price can hit soon.




I dont provide numbers but i do have back of the envelope calculation. I always spotted the right one.



FYI about my latest track record - refer to my last blog.

https://klse.i3investor.com/blogs/glorystocks/124100.jsp

I have posted and even spotted before (Icon) Careplus - A Potential Multi-Bagger.



So, lets go back to Frontken.



Why I said RM1.30?



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The company's profit to jump significantly from higher revenue to be derived from:

1) Iphone 8 sales will boost Singapore's revenue

2) Taiwan's contribution will continue to gunning high backed by strong semicon sales in Taiwan.



The company is directly related to semiconductor in Taiwan. But not exposed to china.

The exposure is mostly in Taiwan and Singapore (direct contribution from U.S. semiconductor).



They are second biggest in Taiwan after SING HER in Taiwan.



Share price has not even reflected its 1Q17 results yet.

Annualised FY17 eps alone is 1.92sen. By pegging to 17x, it should be 33sen now.

Check it here: http://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=195857&name=EA_FR_ATTACHMENTS

This eps will double or triple or more in 2H2017 backed by aforementioned.



Valuation wise, it should be trading at 17x based on Sing Her PE of 18x.

Why peg to Taiwanese company? because contribution from Taiwan will derive this company forward.

Malaysia contribution is mixed up. so will be flattish this year and next year as slower O&G activities. If this segment pick up, surely TP will be at RM2.



Note: How do I know this? Understand the business and read a lot of news that whaever linked to this company.

Good Analysis, Thanks Yistock, follow u always.


If you like to read post Q4 16 Part I article which posted on 7th March 17, you may follow below link:

https://klse.i3investor.com/blogs/frontkn/117763.jsp



Let examine the Q1 2017 result.

On Revenue:

Semi-con Engineering
Frontkn total total
Revenue (mil) Twn Sg My Phi Indon China
2013Q1 13,948 29,732 18,027 7,205 3,637 300 563
2013Q2 16,197 27,670 15,156 8,379 3,068 384 683
2013Q3 17,839 33,496 21,049 8,652 2,843 358 594
2013Q4 17,746 40,471 25,516 9,416 4,403 697 439
Total 65,730 131,369 79,748 33,652 13,951 1,739 2,279
% from total biz 33.35% 66.65%
2014Q1 17,915 31,791 17,046 10,753 3,017 758 217
2014Q2 20,350 55,589 13,796 38,841 2,693 259 0
2014Q3 22,807 63,028 14,490 45,731 2,807 0 0
2014Q4 31,195 77,777 21,666 52,650 3,028 433 0
Total 92,267 228,185 66,998 147,975 11,545 1,450 217
% from total biz 28.79% 71.21%
2015Q1 23,456 55,765 13,205 37,905 3,811 844 N/A
2015Q2 25,913 42,829 13,318 25,173 3,815 523
2015Q3 29,417 41,773 14,877 22,221 3,930 745
2015Q4 30,254 38,718 12,410 21,548 4,289 471
Total 109,040 179,085 53,810 106,847 15,845 2,583 0
% from total biz 37.84% 62.16%
2016Q1 26,848 32,449 9,688 17,779 4,371 611 N/A
2016Q2 30,714 33,317 11,383 16,872 4,207 855
2016Q3 33,785 31,405 9,931 16,350 4,328 796
2016Q4 36,908 39,763 15,966 17,532 5,482 783
Total 128,255 136,934 46,968 68,533 18,388 3,045 0
% from total biz 48.36% 51.64%
2017Q1 35,444 32,097 13,689 13,444 4,796 168



Total 35,444 32,097 13,689 13,444 4,796 168 0
Semi-con Engineering
Key Observation:

(1) Oil & Gas Engineering segment - No Suprise, as Usual.

(2) Taiwan Ares Green - Revenue continue to grow in Q1 2017



On Profitability:

Semi-con Engineering
Taiwan biz % margin Operating Profit (mil) Twn Sg My Phi Indon China
5.64% 2013Q1 787 1,547 819 518 516 -278 -28
17.62% 2013Q2 2,854 -1,814 -523 -1,215 365 -175 -266
18.95% 2013Q3 3,380 -364 945 -379 348 -926 -352
12.54% 2013Q4 2,226 803 1,232 -243 646 -242 -590
14.07% Total 9,247 172 2,473 -1,319 1,875 -1,621 -1,236
% from total biz 98.17% 1.83%
12.86% 2014Q1 2,303 955 -115 795 564 329 -618
17.36% 2014Q2 3,532 163 -1,996 2,914 377 -563 -569
16.76% 2014Q3 3,823 5,227 973 4,065 369 -3 -177
14.09% 2014Q4 4,395 5,687 2,361 4,709 317 -181 -1,519
15.23% Total 14,053 12,032 1,223 12,483 1,627 -418 -2,883
% from total biz 53.87% 46.13%

21.50% 2015Q1 5,042 5,971 -434 5,571 783 51 N/A
22.46% 2015Q2 5,819 -4,076 -1,644 -2,932 757 -257
24.03% 2015Q3 7,069 -4,842 1,043 -6,415 690 -160
8.77% 2015Q4 2,652 911 255 229 824 -397
18.88% Total 20,582 -2,036 -780 -3,547 3,054 -763 0
% from total biz 110.98% -10.98%
10.16% 2016Q1 2,727 -672 -4,192 2,934 731 -145 N/A
21.55% 2016Q2 6,620 1,913 -881 1,972 821 1
24.75% 2016Q3 8,363 803 -1,265 1,213 796 59
16.85% 2016Q4 6,220 7,137 5,202 1,080 862 -7
18.66% Total 23,930 9,181 -1,136 7,199 3,210 -92 0
% from total biz 72.27% 27.73%
20.21% 2017Q1 7,164 2,162 221 1,530 889 -478 N/A
#DIV/0! 2017Q2 0
#DIV/0! 2017Q3 0
#DIV/0! 2017Q4 0
20.21% Total 7,164 2,162 221 1,530 889 -478 0
% from total biz 76.82% 23.18%




Key Observation:

(1) Oil and gas segment - Looks stable

(2) Taiwan Ares Green - Doing Fantastic!!!

(3) Projection - Oil and gas should remain stagnant, the growth continue to come from Taiwan Ares Green.



On Balance Sheet:

(1) cash level raised from 94 mil in Q4 16 to 108 million in Q1 2017. Or equivalent to RM 0.10 per share. Adding back this sum, share price should worth RM 0.39



On valuation:

current PE stood at 11.56. Reasonable to me.



Technical Wise:

I use Sifu OTB chart:



Key observation:

(1) Looking forward to break historical intraday high of RM 0.34 on 18 May 2015.

(2) Frontken used 2 years of time for Ares Green to grow.

http://Frontkn - Buying Time for Growth (4)- YiStock

(3) Is there a Cup & Handle??



Conclusion:

I will continue to hold and probably add some if price retrace a bit.



Cheers,

YiStock

投资股票除了守， 还是守。 好的公司要时间。

today vol 54mil, not bad.

KLCI King 台灣 IT 產業營收連 3 個月成長， FRONTKEN 子公司料从中得益
https://klse.i3investor.com/blogs/happyinvest/123263.jsp

Thanks KLCI , just saw it. good to read

Thanks Nicky for the info

klci king do u know which fund ?

good have fund come in.

frontkn consider semicon company?

thanks blackrock

nicky11 Below is Frontken Year 2016 SEGMENTAL REVENUE – BY INDUSTRY (RM’000)
Oil & Gas : 50,374
Power Generation: 3,182
Semiconductor: 185,162
General* : 23,126
TOTAL: : 261,844

This statistic can get from their annual report. Semiconductor and Oil & Gas contributed ~71% and ~19% from Frontken total revenue. It is interesting~

Hope what nicky say is true

i see looi88, anyhow thanks

result is annouce by today?

looi88, now still can collect?

BBgsold, why say game over? anything happen?

bbgsold have hear anythiong about quarter result?

Thanks for the advice newbe

acung, what is the next entry price?

Desire, u want to sell already? not good to hold?

goodstock, the link only can access by apps?

Thanks for the info volks, any target ?

look good, klci king any target?