Challenging outlook for FY16 1Q16 net profit of MYR4m disappointed as operating margin collapsed on weaker revenue, exacerbated by forex translation losses. We cut FY16-18 earnings forecasts by 36%-52% on lower sensor demand and lower USD/MYR assumption. Pegging at a lower PER multiple of 15x (from 16x; on FY17 EPS) to account for the less sanguine near-term outlook, our revised TP is MYR3.90 (-43%), warranting a downgrade in call to HOLD.
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....
cooling
1,676 posts
Posted by cooling > 2016-04-27 08:54 | Report Abuse
hahah....are you saying that nobody know about this old news on Monday?