Posted by Kong CL > 2019-02-18 07:43 | Report Abuse

Should beware today?

Posted by 45AMG > 2019-02-18 10:08 | Report Abuse

collecting at 17sen..

Posted by 45AMG > 2019-02-18 10:30 | Report Abuse

good QR coming soon?

Posted by commonsense > 2019-02-18 10:45 | Report Abuse

This is a very speculative play stock given that the company has actually a very weak fundamental track record at the moment. However, the company has a potentially lucrative arrangement with Sukaniaga Sdn Bhd (of which Orion owns 10% interest).

On October 2018, Sukaniaga has a service level agreement to develop the E Angkasa Az Zahara loan application system for MyAngkasa Holdings, a wholly own subsidiary of Angkatan Koperasi Kebangsaan Malaysia (not sure if it was based on open tender of direct award). Sukaniaga will earns a fee for its service based on the volume of loans and loans amount that it processed and approve under the system. The system will be developed (and actually operate) by Ganda Integrasi (which is a wholly own subsidiary of Orion). Ganda will earn 85% of what Sukaniaga received as fees for the system.

Currently Orion is proposing to acquire another 10% interest of Sukaniaga Sdn Bhd for RM10mil (valuing the company at RM100mil) from THO Travel Sdn Bhd. Upon completion the company will hold 20% interest in Sukaniaga. Effectively upon completion of the additional 10% interest of Sukaniaga, Ganda will have a total of 85% + (20% x 15%) = 88% rights to the fees paid for the loan system.

If you ask me, the deal with Angkasa is a bit dodgy given that Sukaniaga is actually receiving 15% of the service fees for just winning the contract. Effectively, it would have been a lot cheaper for Angakasa to directly award the contract to Orion. Sukaniaga has a share capital of only RM100k. Shareholders of Sukaniaga consist of mainly Ahmad Khir Bin Dato Haji Khairuddin (22.5%), Titian Kotamas (57.5%), Ganda Integrasi (10%) and THO Travel (10%). From here you can see that the shareholders of THO Travel (Sheikh Ahmad Nafiq Bin Sheikh A Rahman and Nor Fariza) will already make a very high profit of almost RM10mil for their initial investment of only RM10k in Sukaniaga.

Anyway, Orion has proposed for a private placement exercise to raised approximately RM17mil of which the usage of the proceeds are:
1) Acquisition of 10% of Sukaniaga from THO Travel. RM10mil
2) Development of the Angkasa system. RM3.2mil
3) Renovation of office. RM1.5mil
4) Staff costs relating to Angkasa system. RM1mil
5) Marketing of Angkasa system. RM1.5mil
6) Expense for Private placement. RM800k.

This is a bit of a red flag. Given that the cost to develop the system is only RM3.2mil. I just feel that there might be a potential review of the contract awarded by Angkasa to Sukaniaga by the government (as what had happened with Prestariang with their Skin contract). Investors need to take note.

If you are looking to diversify your portfolio outside of Orion (due to potential review of contract by the government) I would recommend you to look at MBMR. (https://klse.i3investor.com/servlets/stk/pt/5983.jsp)

MBMR is a direct proxy to Perodua via its 22.6% interest in the company. Valuation is cheap at only 6.9x PE (based on target FY18 profit of RM145mil. 9m profit is already RM106mil). PB is low at only 0.7x BV. 4Q18 results is expected to be higher than 3Q18 and last year's 4Q17.

FY19 growth will be driven by the still high demand of the new Myvi and the newly launched SUV Aruz and also the newly revamp Alza in 2H19. The recent announcement of closure and potential disposal of the loss-making alloy wheel manufacturing business alone is expected to boost the company’s profit by an additional RM20mil. I am projecting a profit to shareholder of RM170 mil for FY19 which at the current price values MBMR at only 5.9x PE.

Please go through the analyst reports and do your own analysis before making any decisions. There are 8 analysts in total covering the stock with most of them having a TP of above RM3 (all have a buy rating). The average TP for the 8 analysts is around RM3.50.

Good luck.

Posted by Agnes Lee > 2019-02-18 10:48 | Report Abuse

@ commonsense so good or not ?

Posted by 45AMG > 2019-02-18 11:15 | Report Abuse

first of all, this deal is not related directly to Msian gov..it's between MyAngkasa & Sukaniaga.. not like SKIN project or any other gov link project which the gov have interest/stakeholding in it..

it is 15years agreement, it is not an awarded contract.. in this agreement, MyAngkasa will not spend a single cent to develop this system.. Orion thru Sukaniaga will take care everything. in return, every successful loan application transaction, Sukaniaga will get commission from MyAngkasa..

this is very low risk project, MyAngkasa will not spend money on it. in the long run, orion will be profited when most of cooperative loan application using this system. no more manual paper application, no more high % agent commission..

--------------------------------------------------------------------------------------------------------------------------------
This is a bit of a red flag. Given that the cost to develop the system is only RM3.2mil. I just feel that there might be a potential review of the contract awarded by Angkasa to Sukaniaga by the government (as what had happened with Prestariang with their Skin contract). Investors need to take note.

Posted by NoPainNoGain > 2019-02-18 15:02 | Report Abuse

lolwut? gameover?

Posted by moneykj > 2019-02-18 16:34 | Report Abuse

moneykj Stay in the range of 0.16-0.185 before q.
15/02/2019 21:50
______________________________________________

It's process to nullify overbot position. Tomorrow may touch 0.16. Don't worry.

Posted by Newbiesky > 2019-02-18 16:50 | Report Abuse

before q means? quater results? sorry, I am still new

Posted by 45AMG > 2019-02-18 19:55 | Report Abuse

Yup quarter results, expected to announce soon..

Posted by moneykj > 2019-02-18 20:23 | Report Abuse

Anyway, I still hope she can reach 0.20 before q to qualify her as a 10 bagger.

Posted by 45AMG > 2019-02-18 21:55 | Report Abuse

0.20 will come before qr...

Posted by ozzie75 > 2019-02-19 10:45 | Report Abuse

5 bagger is decent enough.

moneykj Anyway, I still hope she can reach 0.20 before q to qualify her as a 10 bagger.
18/02/2019 20:23

Posted by NoPainNoGain > 2019-02-19 11:00 | Report Abuse

10 bagger is rm1.5 (about)..
5 bagger rm0.75 (about)..

wow! I can quit my job if hit either of that!

Posted by ozzie75 > 2019-02-19 11:10 | Report Abuse

Am I inferrring your entry price as 15 sen? hahaha.

NoPainNoGain 10 bagger is rm1.5 (about)..
5 bagger rm0.75 (about)..

wow! I can quit my job if hit either of that!
19/02/2019 11:00

Posted by 45AMG > 2019-02-19 11:20 | Report Abuse

today no fuel?

Posted by 45AMG > 2019-02-19 11:26 | Report Abuse

hahaha my mouth masin.. just said only now move

Posted by 45AMG > 2019-02-19 11:27 | Report Abuse

10mil in 5 mins.. this is something

Posted by moneykj > 2019-02-19 11:31 | Report Abuse

NoPainNoGain 10 bagger is rm1.5 (about)..
5 bagger rm0.75 (about)..

wow! I can quit my job if hit either of that!
19/02/2019 11:00
____________________________________________

Should count from 0.105 where Orion and Ifca started.

Posted by NoPainNoGain > 2019-02-19 11:39 | Report Abuse

Oo ok2..being too greedy..

Today please jack up to 20c!

Posted by ozzie75 > 2019-02-19 11:53 | Report Abuse

Make it 30 sen. :)

NoPainNoGain Oo ok2..being too greedy..

Today please jack up to 20c!
19/02/2019 11:39

Posted by jeand > 2019-02-19 12:02 | Report Abuse

sin kah lan

Posted by jeand > 2019-02-19 12:04 | Report Abuse

if today 25c .i m sin kah lan

Posted by Woo Kok Keong > 2019-02-19 14:21 | Report Abuse

Guys don't miss it now ... Will jump this few day at 0.195

Posted by NoPainNoGain > 2019-02-19 16:52 | Report Abuse

So....not yet I guess?

:D

Posted by 45AMG > 2019-02-19 17:03 | Report Abuse

postponed.. *sighhhh

Posted by DickyMe > 2019-02-19 20:24 | Report Abuse

Ozzie75 may I come in? How is Tomypak faring? Hihihi.

Posted by ozzie75 > 2019-02-19 22:18 | Report Abuse

Dickyme: hey, hope all's well, my friend. :)
I had left Tomy for quite a while after their 1st reported loss several quarters back.

Posted by DickyMe > 2019-02-19 23:19 | Report Abuse

All is well, Ozzie. You seem to be active in dubious counters. This counter may dip back to 10 sen. Just my 2 cents. Tomypak is almost reaching expected price of 60 sen.

Posted by ozzie75 > 2019-02-20 10:02 | Report Abuse

Thanks for the note, my friend. Heartened to know that all is well for you. I just took a small position 'before station 10' for the speculative flavour of it. :)

Dubious as you said, I see its financial position being 'inscribed' by the earlier rights subscribers paying for a CMMS business competitor in excess of 20x of 'book worth, rather than the subsequent operating merits (if any) from the earlier acquisition,indicated by the unfulfilled profit guarantee of 7.5m/year or cumulative 15m for 2 years post-acquisition, which was part of the deal. It remains clear that the CMMS business acquisition should deliver the profit guarantee if one regard independently the recent fintech business development and which call for another round of fund raising. Only the shareholders would know if they had been duped earlier.. :)


DickyMe All is well, Ozzie. You seem to be active in dubious counters. This counter may dip back to 10 sen. Just my 2 cents. Tomypak is almost reaching expected price of 60 sen.
19/02/2019 23:19

Posted by Woo Kok Keong > 2019-02-20 10:55 | Report Abuse

Boring no movement today no surprise at alll

Posted by moneykj > 2019-02-20 11:00 | Report Abuse

Now at 0.165 which I think too low. Can start in half an hour time?

Posted by moneykj > 2019-02-20 12:44 | Report Abuse

12.28 only start ar? One hour late leh...

Posted by pang72 > 2019-02-20 13:57 | Report Abuse

Hi hi..
0.175 liao

Posted by Woo Kok Keong > 2019-02-20 14:38 | Report Abuse

Me waiting it to19sen

Posted by probability25 > 2019-02-20 16:28 | Report Abuse

buyer knocking the door so hard

Posted by 45AMG > 2019-02-20 17:03 | Report Abuse

0.20 is coming... huattttt..

Posted by NoPainNoGain > 2019-02-20 19:57 | Report Abuse

W...a....i..t..i..n....g...

C...o...n...t...i...n..u..e

Posted by Dave Jet > 2019-02-20 23:07 | Report Abuse

等你等到我心痛。。。

Posted by NoPainNoGain > 2019-02-21 10:00 | Report Abuse

The price might ranging between 16.5 to 17.5 until next week before QR..

Then only know either boom or bust.

Posted by ozzie75 > 2019-02-21 11:02 | Report Abuse

So scary. :)

NoPainNoGain The price might ranging between 16.5 to 17.5 until next week before QR..

Then only know either boom or bust.
21/02/2019 10:00

Posted by 45AMG > 2019-02-21 12:14 | Report Abuse

it will boom.. 0.20

Posted by NoPainNoGain > 2019-02-21 12:22 | Report Abuse

If boom cannot 20c lor..at least min 30 cents!


Posted by 45AMG > Feb 21, 2019 12:14 PM | Report Abuse

it will boom.. 0.20

Posted by 45AMG > 2019-02-21 13:10 | Report Abuse

NoPainNoGain 0.30 by end march

Posted by moneykj > 2019-02-21 15:16 | Report Abuse

I'm not greedy. 0.20 before q.

Posted by arcadicus > 2019-02-21 15:20 | Report Abuse

Im not greedy too.. 10 bagger oso enough d...

Posted by 45AMG > 2019-02-21 15:21 | Report Abuse

achievable.. expecting good QR soon

Posted by 45AMG > 2019-02-21 15:37 | Report Abuse

looks like uptrend will start today onwards

Posted by 45AMG > 2019-02-21 15:39 | Report Abuse

accumulation started since monday.. will take orion to next level.. 20's leauge

Posted by NoPainNoGain > 2019-02-21 16:10 | Report Abuse

Waa my prediction wrong!!..

Next destination 30c!