http://www.pingpetroleum.com/about_us.php

Thanks gold168 & Casperl. Anyway, DNex was ranked No 2 in term of Fundamental Score at ISaham web on 19/8.

No Confusing but very clear cut, haha
Leaving Executive Director is selling- say bye bye and forget everything about Flbhd
Onboard Executive Director is buying- look into future of Flbhd and have confidence with the company that he join.

Good question raised by Curious2.
From the news on 3/8/16, Mr Lu Kuan-Cheng already resigned on 3/8/16, but still holding 5,192,715 shares or 5.032% means he still emerge as substantial holder.
Just ask yourself, After resigned (Due to family issue and career planning-is it a true reason?)
Do you still want to be a substantial holder if there is some other "unhappiness" reason to cause you leave the company.
So, will you still sell your shares in order to reduce your share holding % and not to be have any "relationship" with your ex-company.
Further more, when Mr Lin Hao Yu is appointed as new Executive Director 15/7/16 (amended announcement on 19/8),
he starts to buy FLBHD shares, 40K (16/8) and 40K (18/8)-(even though not very huge), Why should he buy before release of Q2 16 Report?
If the Q2 16 Report is bad, another price plunge might happens, he can buy much cheaper after that!!!
So, just ask yourself a very simple logic question, Should the Q2 report good or bad?Anyway, this is my personnel view.

Cant copy the company link here, justgo to company web, dnex, to know the the detail of the company activities.

Thanks VenFx, good luck

agreed!Next week, probably wednesday, price should go up as said by Anw412

http://www.thestar.com.my/business/business-news/2016/08/19/dnex-group-md-buys-1238-million-shares-in-firm/

From Q2 16 QR,
1)there is RM127mil invested in subsidiary
2)Trade and receivable is increase 7.2% (is it huge for O&G & IT company)
3)Equity increases 86%
4)Long term debt equal zero
3)at price 0.24,is it fair and cheap to invest
a)PE=2.9<10
b)P/BV=1.58<1.5
c)PEV/Ebit=7.3<8 (exclude 85mil from Ping, otherwise only 1.7)
Based on above, sorry to say, don't know how fundamental to be calculated so that consider fair and cheap to invest. Can anybody show me, thanks

Hi Casperl
Thanks for the good question raise. There are 2 companies acquired
1)Ping - upstream O&G which completed acquired (US$10 mil) on 30 June 2016 and contributed RM85.3 mil as mentioned by the Group managing Director (April to June 16 Crude Oil Price around US45 per barrel). Means DNex benefited from entering O&G Business at Low Crude Oil price period.
2)OGPC -RM170mil (RM33mil or 16% discounted from earlier deal crude price at US100 and above)which is a leading provider of equipment and services for oil and gas, petrochemical and power and general industries.The
OGPC Group will contribute to a new stream of revenue for DNeX through sale of oil and gas related equipment and provision of engineering and technical support services.
For detail of Company information please refer to the link as below:

A memorandum of understanding (MOU or MoU) is a formal agreement between two or more parties. Companies and organizations can use MOUs to establish official partnerships. MOUs are not legally binding but they carry a degree of seriousness and mutual respect, stronger than a gentlemen's agreement.

Anyway It is future earning, is expected to commence early part of next year, FY17.
Let us make simple calculation.
Revenue=RM174mil for 2 years, that ie RM21mil per Quarter.
Average current Quarter revenue is RM107mil.
For financial Q1 17 (30/4/17), Total revenue RM128mil
Assume 5% net profit, RM6.4mil
EPS per quarter = 4.57 sen
EPS for FY17 is around 18.3 sen
Based on current PE=6.19 (Isaham, sector average PE=11, so Comcorp is cheap or fair value)
The Target Price for FY17 is RM1.13
Note
Estimated EPS and Target price for FY17, which exclude LED, Smart Grid meter & Green Power Generator revenue

http://www.theedgemarkets.com/my/article/comintel-partners-guinea-government-develop-ict-solutions-worth-rm174m

VenFx, besides the LED. I think Mentioned b4 by Savvy88 about Xirgo GPS product, is stated in the article, the product is sold quite "hot" in US.
The product is utilised by North American Insurance companies for tracking purposes in order to determine the appropriate insurance premium customers should pay based on the way they drive.
"It will also open up in the domestic market if local insurance companies adopt the GPS tracking practice." MD Lim said.

http://themalaysianreserve.com/new/story/comintel-diversify-led-products

I hv tried many times to copy the Smart Grid & meter link through the company web, but unsucessful. Might be can go to the company web : Comintel, select services, then Smart Grid & meter to explore more about the product

Venfx, u have share 2 innovative products link. The 3rd innovative product is Smart meter/Smart power Grid solution which mentioned in the Prospect for Financial year ending Jan 2017, the link as above.

http://www.theedgemarkets.com/my/article/immediate-hurdle-comintel-86-sen-says-alliancedbs-research

http://www.theedgemarkets.com/my/article/immediate-hurdle-comintel-86-sen-says-alliancedbs-research

As a Value investor, will look at the company earning.
On 21/6, is the Quarterly report out?No, so we do not know the Earning.
Accidentally, on that day, one of director, DATO' ABDUL MAJID BIN OMAR had disposed 40K or 0.03% (which is negligible) in open market, but will affect somebody so called "Big shark" (probably they know) sentiment/emotion that the Q1 17 might not Good and they dance with the director (this is what I imagine after things happened). So, the "Big Shark" push the price to highest, 0.99 (Retailers dance with the Shark), and press down (probably after the Director throw, might need some money for Hari Raya Celebration, again my imagination, haha) the price till Lowest 0.65. If not wrong, many investors were trapped and sleepless.
In term of FA, let us look at the PE at below price
Before Q1 17 report, the EPS=9.93
i)Price=0.99, PE=9.96
What happen if Q1 17 is a loss, then the PE will be much higher!!!
ii)Price=0.665, PE=6.7
The price is cheap and start to rebound till (Q1 17 release on 28/6 which is so called fantastic, +189%) 29/6 before correction again (Chinese proverb says : Take a rest is for walking longer journey)
Again, after release of Q1 17 report, the EPS=12.43
on 5/7, the price=0.785, PE=6.3
Last but not least, 3 questions to be asked
1)Is the current price cheap?
2)Is there any good news come out recently?
3)Is there any Directors keep on dispose?
Make your own decision to invest if you think it is good, otherwise just get yourself become spectators and watch the 2016 Europe Cup Final(Comcorp price, a few month down the road) till u know who the Champion is!!!

From the Past Quarterly Report,
Quarter April 15 July 15 Oct 15 Jan 16 April 16
Revenue (mil) 78.8 72.2 105 104 101
EPS(sen) 1.33 0.63 3.47 4.5 3.83

The revenue increased fr 70mil and maintain at around 100mil and the EPS is increased fr 1 sen and maintain at around 3sen even the Chairman said order is less in Q1 17.
Based on above, as long as they can maintain the above, the coming 2nd Q result should be much better than the preceeding Q2 15 which is only 0.63 sen. Besides that, as mentioned in the article, other contribution which is not include in the preceeding Quarter such as
1)Advanced gasification green renewable energy generation solution
2)Intelligent lighting solution (Innovation LED)
3)Smart meter/Smart power grid solution
will contribute in coming revenue and EPS.
Based on current trailing 12 months data
Assume price at 0.98
PE=8.1 <10
P/BV=1.2 <2
is it still cheap?Hence, let you decided the Target price.

duitkwspkita
Hopefully,praying hard that the Q1 17, atleast 50% Trade receivable is collected, means 15mil (Profit attribute to owner-2016 only 13mil). Besides that the EPS for Q1 16 only 1.33 compare to 3.47 (Q3 16) and 4.5(Q4 16, great improvement even with same sales vol) respectively. As long as they can achieve or less little bit Q3 16 results(Q3 16 Sales vol is higher by 26mil), which is +160% improvement vs Q1 16 EPS.
From the Last 10 minutes trading, the 0.665 is the top 3 vol during the Tuesday (21/6) closed.Total vol for 0.665 is 2.3mil (Buy- 1.57 mil and sell - 0.76), hopefully they are collecting back and pushing up back 2molo. Let us wait and see

Thanks Fam Jenny

Hi duitKWSPkita
I'm not quite agree the 2 points below:
1)This is considered as relatively high borrowing company
2)the share price increase was mainly due to "currency gain" but not really from operating
For Item 1 (calculated from AR 2016)
Cal Ind.Std
a)Current Ratio : 1.5 >1.5
b)Quick Ratio : 1.0 >1.0
c)Ttl Asset/Ttl Equity : 2.4 <2.0 higher
d)Ttl Liabilities/Ttl Equity : 1.4 <1.5
e)Debt/Gearing : 0.8 <1.0
f)Time Interest Earn : 8.2 >5.0
g)Cash Flow Coverage : 2.0 >3.0 Lower
Based on the above, the Comcorp has debt, but is not a big issue and manageable

Item 2 (Information Fr AR 2016)
Profit/Loss before Taxation
(in K) 2016 2015 Var
1)Realised loss on Foreign Exchanged -5180 -2018
2)Unrelaised gain/(Loss) on foreign Exchanged +1005 -1818
3)Realised gain on foreign exchanged +3 +7
Total -4172 -3829 -9%
The above shows that Comcorp increased in loss of foreign currency exchanged by 8% in year 2016.

To me is, everyone is expecting Comcorp will have good and fanstatic coming Q1 17 report since they are applying
1)Continuously cost improvement initiatives
2)Application of Lean manufacturing

However, when the price is push up higher
Price = 0.7, Starts expensive
Actual Ind Std
PE = 7.3 <10
EV/Ebit= 8.1 <8

Say Price=0.8
PE = 8.3
EV/Ebit = 8.9
show that the price is quite expensive but retailers are dancing with BIg Shark.

The very important items to be highlighted here

(in K) 2016 2015 Var
The Profit/Loss attribute to the Owner 13919 822 +1593%

Wow, the Profit increases tremendously, but something miss out here. Please continue below:
2016 2015 Var
Trade receivables 30223 1892 +1497%

Wow, means whatever made in 2016 is not collected and caused negative cash flow generated from operating. Is the "BIG" amount collect able? 2 possibility results
1)If Yes, Coming Q1 17 report will be super fanstatic
2)If No or minium, then "No eye" to see.

For Investors, pray hard. Nobody will Know, except you are GOD or one of their key management staff, then you will buy since the price is almost back to fair value

Last but not least, Comcorp still a good company except the "price" is "goreng" up/down by some group of people

Disclaimer
This is not a buy or sell call, the author only share the counter information. At the time of writing, the author has bought in comcorp at price 0.665, hoping that the 50% of trade receivable is collected and the net profit compare to Q1 15 should be good.

mycron, form symmetrical triangle, start fr 6/5,
13/5-hi, 27/5-1st lower hi, 9/6-2nd lower hi
6/5- lo, 25/5- 1st higher lo, 2/6- 2nd higher lo
expect continue up and down til around 2 weeks, to make decision major up or down

mycron different from emetall
around 50% emetall profit from selling machine and equipment whereas around 100% mycron sales revenue depend on steel.

buy at cheap sale period 'untung' like hell

Comparison steel Companies
Counter Pice EPS BV ROA ROE PE P/BV P/CFFO EV/EBIT EY P/FCF
Emetall 0.62 10.3 0.93 8% 11% 6 0.66 12.5 7.7 13% 9.9
Mycron 0.525 12.2 1.13 6% 11% 4.3 0.46 3.9 4.4 23% 0.4
CSC 1.38 14.6 2.05 7% 7% 9.4 0.67 8.7 3.1 32% 9.0
Arank 0.755 10.5 0.78 8% 14% 7.2 0.97 4.3 12 9% 4

Note :
Most of steel companies such as SSTeel, Masteel, Lsteel, Lionind, Kinsteel EPS (trailing 12 months) is negative or loss

In term of Book Value n P/BV<1.5 (price for each Co)
BooK value P/Book (Rank fr cheapest )
1)CSC Mycron, 0.46
2)Mycron Emetall 0,66
3)Emetall CSC 0.67
4)Arank Arank 0.97

Rank cheapest In term of EV/EBit<8 Remarks
Ev/Ebit
1)CSC 3.1 zero debt company
2)Mycron 4.4
3)Emetall 7.7
4)Arank 12

ROA and ROE about the same except ROE of Arank and CSC is 14% n 7% respectively.

Rank Price/Cash Flow generated Fr Operating per share <10
1)Mycron , 3.9
2)Arank 4.3
3)CSC, 8.7
4)Emetall, 12.5

Based on above financial data, do you think Mycron is a good choice, anyway U decide yourself.

Note
Technically, RM0.55/0.56 is the main resistance, it will further up once it break then will have good return


Disclaimer :
This is not a buy/sell call, just sharing the information.

Hi Guys
Just share some simple analysis
A)Share price
Price=0.55
EPS 12.2 (trailing 12months)
P/E = 4.5
P/BV=0.45
EV/Ebit=4.7
Earning Yield =23%
above data show the counter is cheap

B)Q3 16 performance
CFFO/Net Income =617%
FCF/Revenue=27%
CROIc=9.6%
improve tremendously in Q3 16

C)Revenue/Net Profit
The increase in Revenue is due to Consolidation of Steel Tube Subsidiary since Q1 16, which did not exist in preceding years corresponding Q

D)Steel shortage
Global steel shortages arising from shutdown n production cut in China. As a results, steel prices up 50% beginning of April 2016 fr twelve month low.

Based on above, the Mycron can be seen as a "Dark Horse", in coming next quarter also.

Disclaimer
This is not a buy or sell call, the author own some Mycron shares at the time of writing

Agreed with low volume, since the outstanding share only 105.27 mil. Market Cap is 333.71 mil. Most of the Boss hold tight to the share, two of the top 30 largest and well known share holders are
1)DynaquestSdn Bhd - Dr Neoh Soon Kean
2)Cold Eye - Fong Siling
It is a good company with expansion by
1)Acquired Noodle Company - Everprosper Sdn Bhd which start contribute since Aug 15
2)Install new high tech machines, again going to contribute in 1st Q 16
Besides that,
1)China Based operations turn around since 3rd Q 15
2)Crude Oil Price still hover around US31.6 in Q1 16
Can the 1st Q performance (around end of May) far better than 1st Q 15 with above contribution. Should with buy with fair value and keep or chase after the price.
Let us wait and see, cheers!