Buy high sell low?

Negative eps.

selling down also trigger profit secure sell.

rosmah done his homework and sell at good price.
15million year target is about 0.77-0.78.

0.85-1.05(need more news to boost)

https://www.dropbox.com/s/1qobx6y6fif469z/hevea.pdf?dl=0

https://www.dropbox.com/s/ysoh5k5kvtt8jk0/Ifca.pdf?dl=0

cimb tp 2.00

np5,954
eps3.17

lcth avg eps based pe10 is 0.75/0.76.
Is pe16=RM1.2

if the net profit can hit.
tp is 0.77-0.78 subjected to q3 able to hit 75% of the target.

both are good.
but I know mitra more and it suit me.
so I choose mitra.

got project

Boom

Buy Low sell high.

15 mil is whole fy2015.
Now 57% hitter.

If 15million profit hit
0.78.
So far business is on track

Long weekend.
This counter is 50ctsabove

Conservative Tp 1.5 but strong usd already tell whole world 100% net profit currency gain.

Mitra.

very the OK!!!

giler saham ni <3 <3

Simon is BACK!!!

Can explain more?

0.265 > 0.165 > 0.255.
roller coaster

i hold zero shares.

Long-term outlook
Nepal and Timor Leste are the two newest markets that RGB has entered, which, according to management, promises good long-term potential, if RGB’s partners are able to resolve licensing issues with the respective governments. In Timor Leste (started in Feb 15), RGB operates one outlet on a revenue share basis while in Nepal (started in Apr 15), RGB receives a fixed fee. The bigger game plan in Timor Leste is to wait for better clarity on the permanence of licences before adding new outlets. In Nepal, RGB ultimate aim is to enter the slots market in the Kathmandu casinos (there are 3-4 casinos in Kathmandu), which is again dependent on clarity of the licensing regime.
Management guided for organic earnings growth of 5-10% per annum based on existing operations, which is in line with consensus estimates. This does not take into account additional new outlets in new countries such as Timor Leste and Nepal. Management estimated that every new outlet in Timor Leste and Nepal could add 5-10% to EPS per annum.
Financials
A repaired balance sheet
RGB’s balance sheet was badly damaged from 2009-14, when it raised RM100m in borrowings (at 10% interest rate) to fund a new casino venture in Cambodia, which eventually failed. It has since restructured the interest rate down to 7% and has gradually repaid the loan on a quarterly repayment schedule. A recent share placement in May 15 raised RM17.8m,RM10.2m which will be used to further pare down debt while the balance RM7.6m will be used for the purchase of new gaming machines, according to management. Combined with healthy operating cashflow and low capex, RGB’s balance sheet has been fully deleveraged and was in a net cash position as at end 2Q15.
Management guided that it generates RM50-60m in EBITDA annually. After accounting for annual capex requirements of RM15-20m per annum, RGB is generating strong free cashflow per share of RM30-45m a year.
The company’s effective tax rate is between 8-13% depending on locations of SSM sales for the year (2.5-3.8 sen/share).
While the company does not have a dividend policy, dividends have been rising gradually since 2014, and management is looking to continue raising dividend payout as debt continues to be pared down.
Valuation
One-broker coverage
There is currently only one broker that covers RGB. Based on Bloomberg consensus EBITDA, the stock trades at 2.9x FY15 EV/EBITDA. The largest US-listed gaming machine companies are manufacturers of slot machines such as Aristocrat Leisure and Scientific Games Corp, which are 25-100x larger than RGB. We consider its closest peer to be Entertainment Gaming Asia Inc. (listed on NASDAQ with market capitalisation of US$32.5m), which runs a revenue-share gaming machines model in Cambodia and Philippines. Entertainment Gaming trades at an annualised 1H15 EV/EBITDA multiple of 2.9x.

SSM saw a 25% drop in 1H15 revenue yoy due to the high base effect in 2014
from new orders in the Philippines for the new integrated casino there. But
pretax profit rose 21% on the sale of higher-margin products and favourable
exchange rate. In 1H15, the SSM division sold 387 units of gaming machines.
The company is targeting sales of 1,400 machines for the full year, which
implies another 1,000 units in 2H15. Management guided that the orders for
these units have been secured and is waiting the timing of delivery of the units.
TSM was the best performer, as revenues rose 20% and pretax profit rose 55%,
driven by 1) new outlets in Nepal and Timor Leste, 2) favourable exchange rate
and 3) cessation of the loss-making Macau operations in 1H14. For the TSM
division, RGB is looking to add another 500 bingo machines and to make it a
total of 7,000 machines for TSM by mid-2016.
1H15 net profit came in at 48% of the Bloomberg consensus estimate, but
given the stronger 2H15 SSM pipeline, the company expects 2H15
performance to improve.

RGB has tied up with AB Leisure to introduce Bingo machines in the
Philippines. The 431 Bingo machines installed so far have been popular
according to the company. There is no capex on RGB’s part as it is a three-way
tie-up with the manufacturer supplying the machines.
Outlook
Beneficiary of gaming liberalisation
Management believes RGB is well positioned to benefit from the increasing
liberalisation of casino and gaming clubs in emerging Asian countries,
particularly Philippines, Cambodia and more recently, Laos, Nepal and Timor
Leste.

problems with renewals. Instead, it is RGB that usually opts to leave
unprofitable outlets.

TSM provides technical support services and also operates multiple machine
concessions in ASEAN. It earns revenue on a profit-share basis, which differs
by country. This business model is resilient vs. the typical volatile VIP segment
as slots have smaller bet sizes. As at 30 Sep 2015, the TSM division had 6,426
electronic gaming machines across 37 outlets, with the largest countries being
Cambodia and Philippines (Fig 5). Generally, RGB signs a five-year
concession with the hall operator with a renewal option of five years, thus
assuring consistent cashflow for the group. Historically, there have been few

Philippines’ three major integrated casinos, Laos, Goa (India) and certain slot
machine clubs in Malaysia. For SHFL, it has exclusivity for Malaysian slot
machine clubs, Laos, Cambodia, Vietnam and Philippines. Besides these two
well-known brands, RGB also represents other international brands such as
Zitro, WMS and R.Franco. (Fig 1)
RGB’s largest customers by geography are the Philippines, followed by
Indochina and Malaysia/Singapore (Fig 2). Demand for gaming machines come
from 1) new casinos or slot clubs, and 2) replacement market.

The SSM division distributes third-party slot machines and casino
accessories/equipment. The largest third-party brands that it distributes are
Aristocrat and SHFL entertainment (previously and better known as Shuffle
Master). RGB has exclusive distributorship rights for Aristrocrat machines in

Revival of the slot giant
Background
Formerly known as “Dreamgate Corporation”
Started in 1986, RGB was a pioneer in the ASEAN slots industry. It was listed
in 2004 on MESDAQ as Dreamgate Corporation Bhd and was transferred to
the Main Board in 2008. It changed its name to RGB International in 2010.
RGB’s business model has two income streams – a) the sales and marketing
(SSM) and manufacturing of electronic gaming machines and casino
equipment (of third-party and in-house gaming machines) and b) technical
support and management (TSM), which provides technical support services
and also operates multiple machine concessions in ASEAN.
RGB’s major shareholders are the founders Datuk Chuah Kim Seah and
Chuah Kim Chiew, and Gerak Juara Sdn Bhd. Collectively, they own 38% of
RGB.
RGB ran into operational difficulties in 2009 when the Cambodian government
imposed a sudden ban on sports betting and electronic gaming machines in
slot clubs in Phnom Penh and Siem Reap. At the time, RGB had more than
3,000 machines in Cambodia. The turnaround strategy required RGB to
mobilise its idle machines to other markets in ASEAN, which took three years.
RGB returned to the black in 2012.
RGB’s business model
Sales and marketing (SSM)

RGB International
Revival of the slot giant
■ A play on the liberalisation of casinos and gaming clubs in emerging Asian countries
■ After suffering badly from a sudden change in Cambodian gaming regulations in
2009, RGB successfully turned around and was back to the black in 2012
■ RGB represents some of the largest gaming machine manufacturers in the world
such as Aristocrat and Shuffle Master, often on a country-exclusive basis
■ Its balance sheet has been deleveraged and is net cash
■ Dividends are gradually rising; trades at 2.9x FY15 Bloomberg consensus EV/EBITDA
Beneficiary of gaming liberalisation
Management believes RGB is well positioned to benefit from the increasing liberalisation
of casino and gaming clubs in emerging Asian countries, particularly the Philippines,
Cambodia and more recently, Laos, Nepal and Timor Leste. Management is optimistic
about the long-term potential of its two newest markets, Nepal and Timor Leste. Every
new outlet it opens in these countries could add 5-10% in incremental EPS annually,
according to the company.
A turnaround story
RGB ran into operational difficulties in 2009 when the Cambodian government imposed
a sudden ban on sports betting and electronic gaming machines in slot clubs in Phnom
Penh and Siem Reap. At the time, RGB had more than 3,000 machines in Cambodia.
The turnaround strategy required RGB to mobilise its idle machines to other markets in
ASEAN, which took three years. RGB returned to the black in 2012.
Complementary business model
RGB’s income stream is derived from: 1) the sale of electronic gaming machines, where
it represents some of the largest manufacturers in the world (Aristrocrat and Shuffle
Master), often on an exclusive country-distributorship basis; and 2) machine
concessions in gaming clubs where it receives a share of revenue. RGB has operations
in 37 outlets with 6,400 machines, mainly in Cambodia and the Philippines.
Deleveraged balance sheet
RGB’s balance sheet was badly damaged when it borrowed heavily to fund a new
casino venture in Cambodia, which eventually failed. The balance sheet has since been
restructured and the company has paid down the loan gradually. Management plans to
use proceeds from a recent share placement to further pare down debt. Combined with
healthy operating cashflow and low capex, RGB’s balance sheet has been fully
deleveraged and was in net cash position as at end 2Q15.
Dividend and valuation
Dividends have been rising gradually since 2014, and management is looking to
continue raising dividend payout as debt continues to be pared down. There is currently
only one broker that covers RGB. Based on consensus EBITDA, the stock trades at 2.9x
FY15 EV/EBITDA, compared to the Asian gaming sector average of 13.8x
CY15EV/EBITDA and the Malaysian gaming sector average of 7.5x CY15EV/EBITDA.

2016budget :
rm1.6billion for prima - mitra
rm18billion for pengerang rapid complex : dialog/knm/pantec/gadang

stockhut
klse screener
i3investor

if index above 1720 mean ff real come back.
once hit 1750 more upsize else.......

staircase chart

izit because TSMC sapu all A10 cpu project got related?

HLB gave 2.45...how?
whic one is which one?

go download stockhut.

suddenly my phone keep pop up mitra good news.........flooded arrrrr

bag project at pahang
RM52M

already mentioned early x.x2 will be resistance once break will become support

0.82
0.92
1.02
1.22

http://www.bursamalaysia.com/corporate/media-centre/media-releases/3629
1.75trillion usd going to asian and emerging markets

UMA replied

DJF +82

ifca # 1 active

The king is back.

tomorrw profit taking for long weekend and korban...

every time 0.x2. it will stop awhile