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2023-03-01 12:21 | Report Abuse
We maintained our BUY recommendation on OPTIMAX with a revised target price of RM1.15 (from RM1.07). The target price is based on the assigned target PER of 40.0x to our revised FY23f EPS of 2.9 sen.
2023-03-01 12:20 | Report Abuse
Summary
Optimax Holdings Bhd’s (OPTIMAX) 4Q22 core net profit improved 7.5% YoY to RM3.8m, bringing a 20.0% YoY increase on its FY22 core net profit to RM14.7m. The results came in within expectation, amounting to 102.1% of our full year forecast of RM14.4m. Meanwhile, an interim dividend of 1.2 sen per share, payable on 30th March 2023 was declared.
QoQ, core net profit showed an improvement of 4.1% to RM3.8m, despite a drop of 1.1% QoQ decline in its revenue to RM28.4m and this was mainly due to the lower minority interest of –RM0.2m registered for 4Q22 vs RM1.1m in 3Q22.
FY22 core net profit climbed 20.0% YoY, mainly attributed from (i) the increase in revenue arising from higher number of surgeries conducted amid economy reopening, (ii) effective marketing effort from ongoing promotions via online platforms, and (iii) better control over operating costs by leveraging on the experience gained from multiple lockdowns since March 2020.
Moving forward, OPTIMAX will continue to boost the capacity of its Ambulatory Care Centre (ACC) in regions other than central Malaysia by hiring more surgeons. Meanwhile, the group continued to seek strategic locations to set up more satellite clinics to support its growth, targeting 5 satellite clinics in FY23.
We expect its new ACC in Bahau, Negeri Sembilan and satellite clinic in Taman Sutera, Johor which were both established in FY22, would secure more patients and operate above break-even in the following 6-12 months, resulting in a higher margin for the group.
There is no material development pertaining to both MoU entered into with Selgate Healthcare Sdn. Bhd., as well as with Sena Resources Sdn. Bhd. and Kempas Eye Specialist Hospital Sdn. Bhd.
Valuation & Recommendation
Although the reported earnings came in within our expectations, we upgrade our FY23f earnings forecast by 6.9% to RM15.5m, taking into account the higher expectation on number of surgeries to be conducted amid economic reopening. Meanwhile, the core net profit forecast for FY24f is introduced at RM17.6m.
We maintained our BUY recommendation on OPTIMAX with a revised target price of RM1.15 (from RM1.07). The target price is based on the assigned target PER of 40.0x to our revised FY23f EPS of 2.9 sen.
Risks to our recommendation include the possible resurgence of Covid-19 infections which may result in postponement of surgeries. Besides, the inflationary pressure amid rising food and energy prices remains as threat to local economy.
Source: Mplus Research - 1 Mar 2023
2023-03-01 12:19 | Report Abuse
Optimax Holdings - FY22: Earnings and DPS In-line
Date:
2023-03-01
Firm:
MAYBANK
Stock:
OPTIMAX
Price Target:
0.86
Price Call:
BUY
Last Price:
0.745
Upside/Downside:
+0.115 (15.44%)
Maintain BUY With Higher TP of MYR0.86
Optimax’s FY22 core net profit was within our expectations, coming in at MYR14.7m, making up 100%/97% of our/consensus FY22E earnings forecast. We adjust FY23E/FY24E by +2%/-11%, factoring for minor housekeeping and leaving room for potential delays in the construction of the Kempas hospital, which we now assume to commence operations by FY25 (prev. 2HFY24). We also introduce FY25E forecasts. Maintain BUY with a higher, DCF-based TP of MYR0.86 (prev. MYR0.84).
4Q22: Slight Margin Contraction as New Centres Open
4Q22 core net profit increased to MYR3.8m (+7% YoY, 4% QoQ) aided by maiden revenue contribution from newly opened eye specialist centres, bringing 4Q22 revenue to MYR28.4m (+6.8% YoY, -1.1% QoQ). We believe the new loss-making centres which opened in 2H22 were the cause of the EBITDA and PBT margin contractions, both YoY and QoQ. However, net profit margins remained level (+0.1 ppt YoY) or increased (+0.7ppts QoQ) as minority shareholder resident doctors shared in the losses of the new centres.
Steady FY22 Core Operations; DPS Expectations Met
We remain upbeat on Optimax’s core operations, with FY22 core net profit growing by 20% YoY to MYR14.7m, contributed by higher revenue of MYR108m (+22% YoY) which was driven by the re-opening of the economy, resilient demand for eye surgeries, and maiden revenue contribution from new centres. As expected, Optimax announced a second interim DPS of 1.2 sen, which will be paid out on 30 Mar 2023. This brings total DPS announced for FY22 to 2.4 sen (1.2 sen announced in 3Q22), which translates to total dividends of MYR13.0m and a dividend payout ratio of 88% of core net profit. We maintain our DPR assumptions of 80% for FY23E/FY24E/FY25E.
Expansion Plans Continue
In the 3Q22 results briefing, management shared that the Bahau ACC and Cheras satellite clinic were fully operational by end-3Q22, with 2 new satellite clinics slated to open in 4Q22. Management also shared intentions to open 7 new satellite clinics in FY23. Moving forward, we expect higher revenue contribution from consultations and treatment of other eye diseases, but minor margin contractions as new centres steadily mature.
Source: Maybank Research - 1 Mar 2023
2023-02-03 10:28 | Report Abuse
the warrant of Optimax will double triple your $$$ !!!!
2023-02-03 10:27 | Report Abuse
stay tuned!!! more n more fantastic good news ahead!!! golden black horse which the price will be RM1.18 within few months!!!
2022-11-02 10:48 | Report Abuse
PTRANS RM1.60 On The Way
PTRANS-WB RM1.05 On The Way
2022-11-01 09:05 | Report Abuse
PTRANS RM1.60 On The Way
PTRANS-WB RM1.05 On The Way
2022-10-25 20:01 | Report Abuse
congratulations to everybody here
2022-10-25 20:00 | Report Abuse
hi hi brothers and sisters, we are all the way laughing to the bank~
2022-07-04 11:16 | Report Abuse
uncle, can u help to hide your post? i wish to be low profile
2022-07-04 11:11 | Report Abuse
all right bro, will do, apologized.
2022-06-03 17:32 | Report Abuse
Basically, when trading marubozu candlesticks,
1. Watch for bullish or bearish candlesticks to form.
2. If bullish, take a long when price breaks above.
3. Place stop below candlesticks.
2022-06-03 17:30 | Report Abuse
white marubozu candle indicates that buyers controlled the price of the stock from the opening bell to the close of the day, and is considered very bullish.
2022-06-03 17:29 | Report Abuse
V.S Industry is staging an uptrend rebound after breaching the MYR1.04 level yesterday – forming a “White Marubozu” bullish candlestick. If it manages to sustain above that level, the stock may propel towards the MYR1.11 resistance, then the next resistance at MYR1.18. Conversely, the momentum may reverse if it drops below the MYR0.985 support – negating the “White Marubozu” bullish candlestick.
Source: RHB Securities Research - 3 Jun 2022
2022-06-03 08:32 | Report Abuse
grab this before rocket hard rock to the moon!!!
2022-05-23 13:38 | Report Abuse
PTRANS RM0.82, then RM0.99!!
PTRANS-WB RM0.25 then RM0.38 !!!
2022-05-23 08:57 | Report Abuse
ho ho ho something bombastic going to be disclosed!!! stay tuned!!!
2022-05-18 19:20 | Report Abuse
stay tuned!!! insider news!!! powerful and fantastic!!!
2022-05-18 19:20 | Report Abuse
congrats to wolf515!!
For those that still in this speedy bus, let's vroom vroom to the moon!!!!
2022-05-18 09:36 | Report Abuse
PTRANS RM0.82, then RM0.99!!
PTRANS-WB RM0.25 then RM0.38 !!!
2022-05-18 09:36 | Report Abuse
2022-05-17
Insider
DATIN SRI LIM SOW KENG (a substantial shareholder) acquired 570,000 shares on 17-May-2022.
2022-05-17
Insider
DATO' SRI CHEONG KONG FITT (a substantial shareholder) acquired 570,000 shares on 17-May-2022.
2022-05-17
Insider
DATO' SRI CHEONG KONG FITT (a company director) acquired 570,000 shares at 0.697 on 17-May-2022.
2022-05-13 11:49 | Report Abuse
0.61 1.16 +0.55 (90.16%) TRADING BUY PUBLIC BANK
0.61 1.09 +0.48 (78.69%) BUY AmInvest
2022-05-13 11:47 | Report Abuse
PTRANS RM0.82, then RM0.99!!
PTRANS-WB RM0.25 then RM0.38 !!!
2022-05-11 21:51 | Report Abuse
2022-05-11
Insider
DATO' SRI CHEONG KONG FITT (a substantial shareholder) acquired 745,000 shares on 11-May-2022.
2022-05-11
Insider
DATIN SRI LIM SOW KENG (a substantial shareholder) acquired 745,000 shares on 11-May-2022.
2022-05-11
Insider
DATO' SRI CHEONG KONG FITT (a company director) acquired 745,000 shares at 0.677 on 11-May-2022.
2022-05-11 15:01 | Report Abuse
By end of May 2022 (may reach earlier), PTRANS mother will reach RM0.79 1st TP, then RM0.96!!
PTRANS-WB will reach RM0.22 then RM0.32 !!!
2022-05-11 09:25 | Report Abuse
there is more coming soon!!!
stay tuned!!!
2022-05-11 09:24 | Report Abuse
2022-05-10
Insider
DATO' SRI CHEONG KONG FITT (a substantial shareholder) acquired 680,000 shares on 10-May-2022.
2022-05-10
Insider
DATO' SRI CHEONG KONG FITT (a substantial shareholder) acquired 506,100 shares on 10-May-2022.
2022-05-10
Insider
DATIN SRI LIM SOW KENG (a substantial shareholder) acquired 680,000 shares on 10-May-2022.
2022-05-10
Insider
DATIN SRI LIM SOW KENG (a substantial shareholder) acquired 506,100 shares on 10-May-2022.
2022-05-10
Insider
DATO' SRI CHEONG KONG FITT (a company director) acquired 680,000 shares at 0.669 on 10-May-2022.
2022-05-10
Insider
DATO' SRI CHEONG KONG FITT (a company director) acquired 506,100 shares at 0.669 on 10-May-2022.
2022-05-09 09:20 | Report Abuse
yup, correct, a strong horse flying to the moon!!!
2022-05-06 23:18 | Report Abuse
Perak Transit Bhd (Trading Buy)
• Following a drop in its share price from RM0.635 in February 2022 to as low as RM0.52 (-18%) in March 2022, PTRANS has formed higher highs and higher lows since then to reach a 2-month high currently.
• We believe the stock will likely strengthen further on the back of positive technical signals arising from: (i) the rising Parabolic SAR indicator, and (ii) the MACD histogram gaining bullish momentum.
• Thus, the stock could rise further to challenge our resistance levels of RM0.76 (R1; 13% upside potential) and RM0.84 (R2; 25% upside potential).
2022-05-06 23:15 | Report Abuse
2022-05-06
Insider
DATO' SRI CHEONG KONG FITT (a substantial shareholder) acquired 925,000 shares on 06-May-2022.
2022-05-06
Insider
DATIN SRI LIM SOW KENG (a substantial shareholder) acquired 925,000 shares on 06-May-2022.
2022-05-06
Insider
DATO' SRI CHEONG KONG FITT (a company director) acquired 925,000 shares at 0.668 on 06-May-2022.
2022-05-05 10:28 | Report Abuse
By end of May 2022 (may reach earlier), PTRANS mother will reach RM0.79 1st TP, then RM0.96!!
PTRANS-WB will reach RM0.22 then RM0.32 !!!
2022-05-05 10:26 | Report Abuse
buy b4 u regret!!! more to come!!! stay tuned!!!
2022-05-05 09:02 | Report Abuse
good morning everyone, let's huat ah!!!
2022-04-29 19:08 | Report Abuse
Happy long holiday to PTRANS investors here~ Cheers~
2022-04-29 08:55 | Report Abuse
First interim single tier dividend of RM0.008 per ordinary share for the financial year ending 31 December 2022
Ex-Date: 28 Apr 2022
Entitlement date: 29 Apr 2022
Payment Date: 20 May 2022
Good dividend company, showing PTTRANS is healthy in cash flow.
2022-04-29 07:53 | Report Abuse
Date of Change Type
28-Apr-2022 Acquired
Registered Name
Dato' Sri Cheong Kong Fitt
Nature of Interest
Direct Interest
Consideration
RM0.6433 per share
2022-04-29 07:52 | Report Abuse
By end of May 2022 (may reach earlier), PTRANS mother will reach RM0.79 1st TP, then RM0.96!!
PTRANS-WB will reach RM0.22 then RM0.32 !!!
2022-04-29 07:52 | Report Abuse
yes bro, will be having superb good quarterly results!
2022-04-28 16:44 | Report Abuse
i see, hope all your counters rise to the moon again!
2022-04-28 16:39 | Report Abuse
unclelimhuat, i feel comfortable when you're here, btw, what's ur average price? mine is around 0.5x
2022-04-28 16:30 | Report Abuse
Fantastic insider news!!! Stay Tuned!!!
2022-04-28 09:19 | Report Abuse
By end of May 2022 (may reach earlier), PTRANS mother will reach RM0.79 1st TP, then RM0.96!!
PTRANS-WB will reach RM0.22 then RM0.32 !!!
2022-04-28 09:04 | Report Abuse
Fantastic insider news!!! Stay Tuned!!!
2022-04-28 09:01 | Report Abuse
Reason
Acquisition of shares by her spouse via open market
Stock: [OPTIMAX]: OPTIMAX HOLDINGS BERHAD
2023-03-01 12:21 | Report Abuse
the warrant of Optimax will double triple your $$$ !!!!