BINASAT COMMUNICATIONS BERHAD

KLSE (MYR): BINACOM (0195)

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Last Price

0.215

Today's Change

+0.01 (4.88%)

Day's Change

0.20 - 0.215

Trading Volume

693,500


6 people like this.

3,064 comment(s). Last comment by SLLEE5732 2 days ago

faizkl

268 posts

Posted by faizkl > 2018-01-11 11:14 | Report Abuse

This counter is shit counter, cut loss already.. Betui2 sui ini BINACOM..

Posted by Equityengineer > 2018-01-11 13:42 | Report Abuse

Traders will sell, investors will sell ..hold and see his the story unfolds ..

Badkid

84 posts

Posted by Badkid > 2018-01-11 15:03 | Report Abuse

gg.com

Annetan

852 posts

Posted by Annetan > 2018-01-11 18:35 | Report Abuse

Ohs I am in quite a lot

Annetan

852 posts

Posted by Annetan > 2018-01-11 18:36 | Report Abuse

I believe they will push lah

yiqqre

906 posts

Posted by yiqqre > 2018-01-12 10:02 | Report Abuse

I heard that before the election will be pushed up the price.

shlyw

719 posts

Posted by shlyw > 2018-01-12 11:36 | Report Abuse

BINACOM (0195) - Prime beneficiary of network infrastructure in East Malaysia, general election play
Author: sectionanalyst | Publish date: Fri, 12 Jan 2018, 11:10 AM

We retain our add rating on BINACOM with a higher target price of RM1.35 (135% upside based on 11/01/2018 closing price of RM0.57). We believe the Group offers significant value upside from its recently secured network service provider and network facilities provider license tfrom MCMC. We believe the timing of the Group's listing on the local bourse to be a general election play, particularly with the strong ties of the Group's non-executive directors with the current ruling coalition party.

We believe the Group's non-recurrent income to grow c.20% and new tower business segment from rolling contracts to contribute significantly and 200% respectively in FY18 and FY19.

We believe the Group is too good to ignore and believe it will be re-rated based on a multi year basis.

Retain add with higher target price of RM1.35


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speakup

27,004 posts

Posted by speakup > 2018-01-12 11:37 | Report Abuse

binacom better than redtone

speakup

27,004 posts

Posted by speakup > 2018-01-12 12:07 | Report Abuse

binacom 3.6X NTA
redtone 2.1X NTA
mana lebih bagus? BINACOM!

Posted by Pusher_Punisher > 2018-01-12 23:51 | Report Abuse

its ok to enter at 56-59 cent. close one eyes come back 6months later.

uptrending

1,852 posts

Posted by uptrending > 2018-01-13 10:33 | Report Abuse

Following the public issue and use of proceeds, Binasat will have total assets of RM80.14mil. Net assets per share and gearing will stand at 23.75 sen and 0.14 times respectively.

wkkht

957 posts

Posted by wkkht > 2018-01-13 21:48 | Report Abuse

政府大力推升网速激励
兆光通信光纤业有赚头预计政府大力推动高速网络,公司的光纤业务必将因此得益,进而刺激未来营收提升。

营运总监祖拉慕蓝接受《南洋商报》专访时指出,早前通讯与多媒体部曾点出,为提升国内网速,光纤网络的覆盖率必须增加。有政府的大力支持,公司看好旗下光纤业务未来的营业额增长。

“我国的信息通讯技术(ICT)无疑是比较落后,政府要迎头赶上,我们肯定是行内的受益者之一。未来1至2年,营业额前景相当正面。”

为什么BINACOM是值得投资的选择?
兆光通讯Binasat Communications Bhd(BINACOM)计划于2018年1月8日,也就是下周一在马来西亚交易所ACE市场上市。在本文中,我们将分享您可能需要了解有关该公司的一些事情。

BINACOM的业务是什么?
BINACOM主要为各公司提供卫星,移动和光纤电信网络的支持服务,其中包括安装,调试,营运以及维修服务。

BINACOM的市场占有率有多少? 谁又是BINACOM的主要客户?
BINACOM管理层表示,它目前在维修位于油站的卫星地面收讯站拥有57%的市场份额。此外,在营运及维修 (O&M) 卫星地面收讯站方面,则拥有64%市场份额。

Maxis宽频私人有限公司 (Maxis Broadband Sdn Bhd) 和华为技术马来西亚私人有限公司 (Huawei Technologies Malaysia Sdn Bhd) 则是该公司的主要客户。在FY17里, Maxis贡献了约49.5%的收入,而华为贡献了大约26.3%。

IPO募集资金使用方式
资金使用方式 RM (百万) 时限
建立传送电塔 14.36 24个月之内
加强运营和维护服务能力 4.90 12个月之内
增强光纤网络安装和调试服务能力 4.80 12个月之内
注重区域业务拓展,特别是越南,缅甸和寮国 1.50 18个月之内
营运资本 10.79 24个月之内
预计上市费用 3.20 3个月之内
总数额 39.55
资料来源:公司招股说明书

行业前景如何?
就现有的因素支持,电讯网络支援服务分部的前景仍算正面:

政府在数字基础设施方面所增加的支出如下:
根据2018年的财政预算案,马来西亚政府将拨款10亿令吉发展沙巴及砂拉越的电讯基建及宽频设施。
在第十一马来西亚发展计划中,其中一个计划是通过扩展和升级高速宽频2以及郊区宽频的基础设施,以提高数字基础设施的覆盖范围,质量以及价格的可负担性。
电信网络支持服务提供商预计将受益于电信公司持续增加的资本开支,其中包括升级,维护以及部署额外的网络基础设施,以改善他们为客户提供的服务素质。
2. 增加网络设备重新校准工作以及可能提高频谱工作重新分配的前景
提供电信网络支持服务的运营将会因此而受益,因为电信运营商可以从事网络设备重新校准工作,并安装和调试新的网络设备。
BINACOM的竞争优势是什么?
强大的专业知识和丰富的业绩记录
在经验丰富的管理团队和264名技术人员的庞大网络的推动下,BINACOM拥有约13年的良好营运记录,主要服务于信息和通信技术(ICT)行业的客户,其中包括马来西亚所有主要电信公司(直接或间接通过设备供应商)。
长期固定的获利能力
BINACOM平均有71%的收入来源于卫星的运行及维护工作(包括上游和下游业务)。在过去四个财政年度里,移动和光纤业务的收入也是稳定的。 这为BINACOM在这段合同期间提供了长期固定的现金流保证。
质量管理体系 (ISO 9001)
该集团已于2017年7月31日获得ISO 9001:2015质量管理体系认证,以提供卫星及其他电讯工程服务(安装,测试及调试)。ISO 9001是一项标准,规定了质量管理系统。 该认证可以为客户提供信心保证,也为BINACOM在提供支持服务时得以遵守的质量标准及流程。
BINACOM的财务状况如何?
净利
由于客户群扩大,收入实现了两位数的增长,同时也带动净利润实现两位数的增长。 总收入的45%以上是长期固定的。
利润率
过去三个财政年度的利润率均保持在25%以上。 除利润率较高的工单以外,利润率的提高也得益于成本削减的努力。 这其中包括资源共享以及内包工程,以实现成本效益和资源效率。
资产负债率
上市后,该集团的负债率将从原本的0.34倍降至0.14倍。


资料来源:公司招股说明书

BINACOM的真实价值是多少?
鉴于马来西亚电信领域缺乏可比性(因为它服务于一个利基市场),为BINACOM评估一个合理的价值是相当困难的,我们可以通过行业平均市盈率 (Average P/E Ratio) 来了解它的估值大约多少。

以此为例,电信业务2018年市盈率约为27.6倍。 根据BINACOM的每股0.46令吉的IPO价格以及2017年每股0.038令吉的EPS,我们将得出12.1倍的市盈率。 这也表明了由于与行业平均水平相比,存在巨大的估值差异,BINACOM潜在的估值重估的情况。

另一方面,最接近可比性的公司是OCK集团,这是另一家主要涉及电信网络服务的公司。 该公司的股价已经达到了27倍的市盈率,这是一个像MAXIS,AXIATA和DIGI这样的大规模公司正目前享有的PE Ratio。 因此,这也表明同行竞争对手BINACOM正在以相对便宜的估值上市。

假如我们采用相对保守的16倍市盈率,再加上其2017年EPS的数据,我们相信BINACOM的公允价值接近每股0.61令吉。 因此,我们认为估值上调的可能性很大,暗示BINACOM有着巨大的上涨潜力。

一些市场上的传言(版主从不同的论坛上收集的资料)
对基金公司等机构投资者的股票配置有限,股票上市后将可能导致激烈的竞价。 鉴于首次公开招股(IPO)超额认购23倍,这并非完全不合理。
该公司一直在积极投标联邦政府的一些项目,投机人士称BINACOM相当接近这些项目
该公司股票已经引起一些有名的投资者所注意
免责声明:以上观点是基于事实和主观意见判断。我们不承担任何依靠讨论此文章而做出买卖决定的损失负上任何的责任。版主在撰写本文时并没有持有这家公司的任何股份。

英文链接 :Why you should buy BINACOM?

Posted by Equityengineer > 2018-01-15 14:34 | Report Abuse

Short term definitely a take profit .. why not set a timeline every months to check on fundamental changes

Vigor

41 posts

Posted by Vigor > 2018-01-15 19:59 | Report Abuse

give divident already

Posted by Lee Yeechao > 2018-01-15 20:19 | Report Abuse

so fast it gives dividend

EKSH238

115 posts

Posted by EKSH238 > 2018-01-16 12:09 | Report Abuse

sell?

Posted by pareto_8020 > 2018-01-16 12:49 | Report Abuse

dividend already announced wow!

Posted by Super Danbo > 2018-01-16 13:41 | Report Abuse

How.much for the dividend ?

zayady

524 posts

Posted by zayady > 2018-01-16 14:19 | Report Abuse

what?? dividend already ka,,,,biar betul....baru masuk board x sampai 1 month sudah mau bgi dividend,,,,serious ???

alex33

82 posts

Posted by alex33 > 2018-01-16 14:53 | Report Abuse

less then 1 month already got dividend, hmmmm..... i still holding this stock, this one definitely not same with KAB, bina got strong financial

Posted by pareto_8020 > 2018-01-17 07:43 | Report Abuse

still queueing to buy...

Tai KT

1,419 posts

Posted by Tai KT > 2018-01-17 14:00 | Report Abuse

will be below 0.50 I guess, back to normal again

Posted by hawkeyes82 > 2018-01-17 15:25 | Report Abuse

Good stocks need time to build, just sit tight and monitor.

nickengk

459 posts

Posted by nickengk > 2018-01-17 16:26 | Report Abuse

Any upside catalyst, e.g. strong earning or moving to main board?

speakup

27,004 posts

Posted by speakup > 2018-01-17 16:30 | Report Abuse

binacom take over redtone?

nickengk

459 posts

Posted by nickengk > 2018-01-17 16:45 | Report Abuse

umm don't think so but there is always a possibility.

KJ Lau

6 posts

Posted by KJ Lau > 2018-01-18 10:29 | Report Abuse

London bridge falling down

Lim Jess

27 posts

Posted by Lim Jess > 2018-01-18 17:53 | Report Abuse

Price is a distraction. Profit is everything. Time will tell.

kenny_G

24 posts

Posted by kenny_G > 2018-01-19 09:15 | Report Abuse

buy or sell? hmmmm

Posted by Equityengineer > 2018-01-19 09:55 | Report Abuse

Don’t sell wait for QR ,

abcb

3,030 posts

Posted by abcb > 2018-01-19 11:44 | Report Abuse

Binacom is a good company has a strong business model and earn recurring income is the ideal kind of company you should not be ignored.
In future prospect,this company cam make good return on equity with little debt and generate strong cash flow that allow the management to return excess money to shareholders as dividend

chunwei94

71 posts

Posted by chunwei94 > 2018-01-19 16:30 | Report Abuse

up up up .hehehe . correct choice this time. strong fundamental

Posted by pareto_8020 > 2018-01-20 17:19 | Report Abuse

Sold 60, bought back 525, sold 570, will buy back for its dividend :D

limkokthye

6,039 posts

Posted by limkokthye > 2018-01-20 19:03 | Report Abuse

new stock hard to buy

limkokthye

6,039 posts

Posted by limkokthye > 2018-01-20 19:40 | Report Abuse

vivocom and binacom like doing same biz, u see vivocom stock like shit nia

limkokthye

6,039 posts

Posted by limkokthye > 2018-01-20 19:40 | Report Abuse

better dont touch this stock

chunwei94

71 posts

Posted by chunwei94 > 2018-01-22 17:10 | Report Abuse

vivocom like shit, but u see OCK and Timecom.

Posted by Richer Lee > 2018-01-22 23:34 | Report Abuse

Good companies always take time to move up.

Posted by Embrace Belief > 2018-01-25 11:40 | Report Abuse

Will it fall backin to ipo price??

eddy888

313 posts

Posted by eddy888 > 2018-01-26 08:44 | Report Abuse

high possibility..

chunwei94

71 posts

Posted by chunwei94 > 2018-01-26 09:47 | Report Abuse

in for some dividend happy chinese new year.

Posted by Embrace Belief > 2018-01-30 13:30 | Report Abuse

Beware..downtrend

traderman

7,854 posts

Posted by traderman > 2018-01-30 14:56 | Report Abuse

slowly go to ipo price. sell now before too late

chunwei94

71 posts

Posted by chunwei94 > 2018-01-30 18:05 | Report Abuse

will drop, but wont go back to IPO price.

traderman

7,854 posts

Posted by traderman > 2018-01-30 18:25 | Report Abuse

strong sell

traderman

7,854 posts

Posted by traderman > 2018-01-31 14:09 | Report Abuse

tp 0.2

traderman

7,854 posts

Posted by traderman > 2018-02-02 09:56 | Report Abuse

0.525 ... new low ..

fattycat

695 posts

Posted by fattycat > 2018-02-02 11:19 | Report Abuse

Cut lost last month. waste my broker fee n time :(

Posted by azhar1969 > 2018-02-02 15:41 | Report Abuse

volume decrease, end of downtrend

traderman

7,854 posts

Posted by traderman > 2018-02-02 18:26 | Report Abuse

next week 0.4

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