Countdown to Komtar’s opening ■ 1QFY16 EPS formed 12% of our estimate but we deem it in line as 2HFY16 will be much stronger when Komtar’s earnings kick in post-opening ■ Revenue growth +11% qoq but EPS flat due to start-up costs at Komtar ■ Trim FY16-18 earnings by 1-2% to account for higher interest and depreciation cost, mitigated by lower effective tax rate from Investment Tax Allowance at Komtar. ■ We rollover to CY17 and raise our TP to RM4.93, still based on 22.5x CY17 P/E (sector average)
some summary: In phase one (end-January 2016), the themed attractions 1) I Love Penang gallery, 2) Doraemon, 3) Haunted House, 4) 5D Sea Explorer and 6) Playoke will be completed.
In phase 2 (mid-Feb 16), 1) Jurassic Park, 2) Zodiac Park, 3) Mirror Maze, 4) Milliondollar Carousel and 7D Planetarium Dome will be ready.
“This would lift our FY16-18 EPS forecasts by 11-46% and could raise our share price valuation to RM6.95
“Komtar opening could lift OWG to RM8 If we include the upside potential both from higher ticket prices and the themed attractions, our FY16-18F EPS could rise by 16%-71%, which could lift our share price valuation to RM8
with reference to CIMB report, I have to say OWG is sort of miracle stock.....
at a time of declining consumer demands, declining profits, closure of Genting theme park, high PE, low EPS, the share is doing very well....and CIMB speculates it may be worth 4X on certain assumptions.
This is a credit to its excellent portfolio of franchises, I guess good business model, good management....and analysts and stockbrokers ever eager to hope........
in the morning, tested 2.85 but failed, next to see if can close 2.80 (2nd resistance) but good enough, 5 days up with push by media coverage.. still project not yet completed.. nevertheless, i have only still doubt until today, what actually happens on 20th Nov, great vol, not really fall.... where the vol goes?
CIMB STRONGLY PUSHING THIS COUNTER WITH EXPLOSIVES FUTURE GROWTH REPORTS.. KOMTAR IF NOT MISTAKEN IS IN APRIL 2016.. SURPRISE CIMB KEEPING A VERY STRONG HOPE ON THIS COUNTER..THE ONLY NEGATIVE IS IF THERE ARE DELAYS IN KOMTAR.. I FEEL VERY SORRY FOR MYSELF FOR NOT BUYING IT AT 2.60 WHEN IT NOTICE ABOUT THIS COUNTER..BUT NOW IS STILL CHEAP GUYS.. NOT LATE YET..
I will be buying this counter soon, PE is high at the moment.. so question now is are we going to wait for the overbought levels or high PE to be diluted for this very popular counter where many fund managers are keeping an eye on.. even MYEG PE also was high but look where it is now.. so choice is yours
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....
i3i2i1
4,731 posts
Posted by i3i2i1 > 2015-11-16 23:01 | Report Abuse
Why dato dispose?