Those who buy now is taking bigger risk now that the price is already so high. Christmas is around the corner. Better take profit and enjoy the festive season. Merry Christmas!! I take profit sold off all.
IFCA is an ACE-listed business software solution company specialising in the property industry with a market share of 70% serving more than 1,500 customers in Malaysia and Asia. We like IFCA for its highly scalable business model and strong earnings growth in the next two years, underpinned not only by the GST software upgrade but also the sustainable web-based conversion business as well as overseas expansion.
Although IFCA’s 2014/2015 earnings will benefit strongly from the GST software upgrade in Malaysia, the perception that the company is a one-off GST play is misplaced. Its web-based conversion and regional expansion, especially penetrating into the Chinese market with more than 40,000 property developers (versus Malaysia’s 2,300) will propel earnings to the next level far beyond the current base.
Moreover, management is hands-on and has a clear roadmap for the company going into the next three years, including potentially launching new business initiatives like e-commerce and regional mergers and acquisitions.
Other catalysts include IFCA’s first dividend payout this year, an indication of its strong cashflow and net-cash balance sheet position, coupled with the likely migration of the stock to the Main Market of Bursa Malaysia in 2015.
Valuation-wise, based on our in-house FY15 EPS estimates, IFCA is trading at a FY15 PE multiple of 12.5 times, against a two-year EPS compounded earnings growth of more than 300%. We see substantial value in IFCA at current valuations.
Risks include a recession-like slowdown in economic conditions, which results in the closing down of the business of some property developers and an unexpected rise in competition, although we think the latter is less threatening, as IFCA is far more established than its next competitor. Moreover, customers tend to be sticky with little incentive to replace a software solution once implemented.
The prospects of IFCA is getting rosier so what's the problem ?!! A silly UMA dosen't change anything at all! I am holding on to all my shares & looking forward to a much much better price !
IFCA MSC warrants and shares fell to their lowest since mid-April following the resignation of its chief financial officer without any news of a fresh appointment. The shares and warrants were down 24 sen each to RM1.38 and RM1.28.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
LOOK009
1,079 posts
Posted by LOOK009 > 2014-11-12 16:24 | Report Abuse
ifca-wa's share price should be 0.735