OCK....few things highlighted as below:: 1. debt....high gearing ratio....finance cost high 2. high operating expenses ...50 ++mil per annum 3. nx two year still plan to M&A 1000 towers in vietnam(market matured)...so nx rwo years capex.still going to increase. 4. hard to define nx year revenue/profit growth rate. conclusion: very high chance of cash calling fr management by right issue.. NTA...0.49 share price....0.49 current PE....>20 ROE..5.63(low)
As mentioned previously, they are changing hands due to compliant issue. Yes, heavy capex is needed. As you can see OCK gearing ratio went up alot. Once SEA asia is ready for 5G, OCK will raise funds to bid for tower projects or they will spin out OCK tower to release it value. Besides, current 4G business contributes to OCK tower is in comfortable zone. Is and own and rent business.
Is 5G will affect its future business as current high gearing ratio due to 4G investment, although 5G tower will need more as shorten distant but in smaller size , like lamp post will do ?
and the listing of towerco business will take at least a year or two. That's too slow to monetise on their assets amid cashflow issue to sustain growth
Q1 results out....What happened to OCK? Numbers of towers, loans, interest all keep increasing.... but the quarterly announcement said Revenue was higher "mainly due to higher revenue contribution from Trading"??? Investment all went to building the "regional independent Tower Company", but the company prospect was the same for Q4 2018 and Q1 2019. Can the management do something to improve the share price? STOP SLEEPING!
Regional's PAT contribution fall RM7.1 mil to RM6.6 mil y-o-y. Capital intensive industry and worrying debt level. The issue is their cash flow issue will taper the growth in OCK
Someone please confirm this, I vaguely recall Q1 ‘18 PAT was overstated, which then was adjusted in Q2. So, if my recollection and understanding is right, the growth in the regional biz is higher than we think this quarter. And if this is the case, we can look forward to a favourable Q2 ‘19 result as well. I could be wrong.
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....
kelvin
2,808 posts
Posted by kelvin > 2019-05-02 20:13 | Report Abuse
is all over guys ...