Posted by Mabel > 2019-07-26 23:07 | Report Abuse

@northeasttrend Mabel & milo... glad we are on the same boats

Worth holding greatec and istone.. cheers!

Well done northeasttrend and Milo

Yes we are in this things together.

Remember

Alone one can do so little, together we can do so much..

All the best!

Posted by Mabel > 2019-07-26 23:07 | Report Abuse

@553871575098935 Keeping my eyes open..but KNM offer better potential. I might in if goes below 95c

+ 1...I'm thinking the same as you...

Posted by Mabel > 2019-07-26 23:09 | Report Abuse

@deMusangking kk7198 , u wet wet ,syiok syiok, so fast!!!!!
come again for Miss Greatec!!!!!!!! wow

Come and join us deMusangking ...

Let's wet wet syiok syiok together....:)

Posted by kk7198 > 2019-07-27 06:41 | Report Abuse

deMusangking, see Ms Mabel is so generous.What else are you waiting for?

Posted by Ncm88 > 2019-07-27 07:28 | Report Abuse

Greatec do vietnam and USA business... uwc do malaysia and singapore... which better ? Miss mabel pls wet me with ur facts

Posted by kk7198 > 2019-07-27 08:13 | Report Abuse

Thank you Ms Mabel.I have already making money in Knm.First went in at 0.18 sen but sold at 0.195 sen cos Knm's name is not so good in engineering line.After reading sardine's posts on its valuable assets n some researches, went in again around 0.30 n added more until yesterday.Definitely like the endless orgasms in Armada which is not my portfolio.Wishing you and fellow forumers a sweet weekend.

Posted by Mabel > 2019-07-27 10:16 | Report Abuse

@Ncm88 Greatec do vietnam and USA business... uwc do malaysia and singapore... which better ? Miss Mabel pls wet me with ur facts

Ncm88, I decided to pass UWC since I have already 3 Steels Companies under my High Speed Rail Portfolios i.e. PreStar, Masteel and Tashin (I accepted Prestar blue share offer since ino of shares is limited)

Greatec Shares Issue for IPO 18.780 million shares
UWC Shares Issue for IPO is IPO 70 million shares

As you can see both companies offer limited IPO shares.

Here are some fundamental for both companies

Greatec
Business
Manufacture of Automated equipment & provision of parts and services for Solar, semiconductor, & consumer electronic sectors.

Geo
Local: 10.01%
Foreign: 89.99% (Vietnam 62.68% & USA 25.37%)

Industry Analysis (Asean 2012-2018)
Global Solar Cell & Solar Module Production CAGR:27.4% & 27.4%
Global Sales Semiconductor CAGR: 8.7%
Consumer Electronic CAGR: 6.1%

Conclusion
Good thing is:
1. PE9.73 still below PE10
2. Revenue is growing past 4 year.
3. Director fees less than 3%
4. They are in the sunrise industry.
5. Business having 89.99% is export. The strong USD will benefit the company.

The bad things:
1. Average ROE11.74% (Below ROE15% level), their competitor ROE is higher.
2. IPO fund 6.16% use to pay debt.
3. IPO in the ACE market.
4. Effected by current trade war (might be opportunities & also might not).

UWC

Business
Provision of precision sheet metal fabrication, value added assembly services, & precision machined components.

Geo
Msia: 50.9%
S'pore: 40.5%

Industry Analysis (CAGR 2015-2018, base year 2018)
CAGR of industry 6.9%

Conclusion
Good thing is:
1. PE13 & ROE20 is healthy.
2. Half revenue is from foreign site, at least not too depend on local revenue.
3. Revenue & EPS increase over 3 years.
4. Net profit margin have around 20%.
5. The needs of the industry product still continue growing CARG 6.9%

The bad things:
1. Debt is too high compare to their current asset.
2. Director fees over 3% of gross revenue.
3. IPO funds 31.3% use for pay debt.

Which is better ?

It depends on your investment strategy. Based on the above fundamental, I feel Greatec has a better potential as compare to UWC.

All the Best !

Posted by Mabel > 2019-07-27 10:17 |

Post removed.Why?

Posted by Richard KH Wong > 2019-07-27 10:56 | Report Abuse

@Mabel Greatech and istone, which is better? Share price 1.00 and 0.20.

Happy weekend to you and all of you in this forum.

Posted by Mabel > 2019-07-27 21:55 | Report Abuse

@ Richard KH Wong @Mabel Greatech and istone, which is better? Share price 1.00 and 0.20.

Happy weekend to you and all of you in this forum.
----

Like Milo and northeasttrend, I'm another happy shareholders of both companies. Between the two, in my opinion, Greatec is better based on the following:

1. Greatec shares are more concentrated than Istones; Greatec Shares Issue for IPO 18 million shares. Istones Shares Issue for IPO is IPO 61. million shares

2. Greatec has better valuation than Istones

Greatec Valuation
IPO Price: RM0.61
Good time: RM0.94 (PE13)
Bad time: RM0.43 (PE7)
IB Rating Fair Value: RM 1.08

Istones Valuation
IPO Price: RM0.16
Good time: RM0.175 (PE19)
Bad time: RM0.095 (PE13)
IB Rating Fair Value: RM 0.21

3. Greatec has better potential to grow since their scope are bigger, Their Director fees are much lower than Istones and their business having 89.99% is export. Planning to go to Mainboard as early as end of next year

4. PE & ROE

Genetec: PE9.73, ROE11.38
Istones: PE 17.39,ROE19.5

All the best everyone!

Posted by charlie chia > 2019-07-27 22:59 | Report Abuse

Mabel
Possible to analyse Tashin

Posted by northeasttrend > 2019-07-27 23:09 | Report Abuse

Thks Mabel always for your valuable comparison. Indeed both is too hard to let go..

Posted by northeasttrend > 2019-07-27 23:10 | Report Abuse

Mabel, how low you think Greatec can go? Thinking to average at bottom..

Posted by Mabel > 2019-07-27 23:15 | Report Abuse

@charlie chia Mabel
Possible to analyse Tashin
----
Let see what I can do...

Posted by Mabel > 2019-07-27 23:21 | Report Abuse

@northeasttrend Mabel, how low you think Greatec can go? Thinking to average at bottom..

Touch wood, the lowest is PE7 : RM 0.43

As you know Greatec current PE is 9.73 which below PE 10. The country average is 16,5.

Hence Greatec is clearly under value. It is a still long way to go..

My advice is to wait for the next Q report. You need to give the company the chance to grow and improve their performance. Her Journey has just begun..

Posted by northeasttrend > 2019-07-27 23:32 | Report Abuse

Thks again Mabel

Posted by Mabel > 2019-07-27 23:32 | Report Abuse

@charlie chia Mabel
Possible to analyse Tashin
-------

Date
Open to apply: 20/06/2019
Close to apply: 19/07/2019
Listing date: 01/08/2019

Share Capital
Market Cap: RM mil
Total Shares: 348.991 mil shares (IPO 59.329 mil, Company Insider/Miti/Private Placement 55.489 mil)

Business
Produce slit coils & steel sheets.
Manufacturing & trade of steel product.

Fundamental
Market: Ace Market
Price: RM0.58 (eps: RM0.0323)
P/E & ROE: PE17.96, ROE5.98%
Cash & fixed deposit after IPO: RM0.063 per shares
NA after IPO: RM0.54
Total debt to current asset after IPO: 0.34 (Debt: 46.769 mil, Non-Current Asset: 98.649 mil, Current asset: 136.872 mil)
Dividend policy: No formal dividend policy.

Financial Ratio
Trade receivable: 72 days
Trade Payable: 45 days
Inventory turnover: 130 days

Past Financial Proformance (Revenue, EPS)
2018: RM260.545 mil (eps: 0.0389)
2017: RM257.701 mil (eps: 0.0543)
2016: RM214.741 mil (eps: 0.0421)
2015: RM212.284 mil (eps: 0.0144)

Net Profit Margin
2018: 4.33%
2017: 6.10%
2016: 5.67%
2015: 1.96%

After IPO Sharesholding
Prestar: 34%
Formula Naga: 33.1%

Director & Key Managemen Remuneration for FYE2019 (from gross profit 2018)
Dato' Kalsom: RM43k
Lim Choon Teik: RM560k
Foong Kok Chuin: RM510k
Sim Puei Chun: RM33k
Khaw Chooi Kee: RM36k
Rusdy Bin Ishak: RM33k
Ir. Tan Tiong Ben: RM33k
Dato' TToh Yew Peng: RM33k
Toh Yew Seng: RM33k
Koay Kah Ee: RM33k
Total director & key management remuneration from gross profit: 5.35%

Use of fund
Land Acquisition: 20.92%
Construction of new factory: 30.08%
Manufacturing of wire mesh: 11.92%
Slitting line: 5.23%
5 Packing machines: 5.23%
Working capital: 17.32%
Listing Expenses: 9.3%

Competitors (Profit after tax margin)
Total 17 competitors with PAT margin -12.47% to 8.04%

Industry Analysis (CAGR 2015-2018, base year 2018)
Steel Comsumption: CAGR 2.16%
Steel processing in M'sia: CARG 0.55%
Steel wire & pipes: CAGR 13.3%

Conclusions
Good thing is:
1. Debt still consider at healthy level.
2. Almost all IPO use to expend business.

The bad things:
1. Listing under Ace Market.
2. PE17.96 is expensive than current Msia country PE16.5
3. ROE5.98% is consider not attractive.
4. Revenue growth average 6% per year, but add in the inflation, the revenue might consider at no growth.
5. Net profit margin is very low.
6. Director fees is over 3% from gross profit.
7. Compare to total 17 competitor, we found that no competitor in same industry able to make profit after tax over 10%.
8. The analysis in the steel industry have very little growth in since 2015.
9. No formal dividend policy.

I recently got a blue form offer from Prestar to subscribe Tashin shares since I'm also a shareholders from Prestar. I have accepted the offer since the number of shares is very limited.. Just like Greatec.

It's my collection of steel companies. TASHIN will be my 3rd collection of steel companies after Prestar and Masteel. Just a word of caution, this type of companies are cyclic companies. Buy only if you want to hold. It will also play a major role in the upcoming ECRL and HSR Project..

Posted by Mabel > 2019-07-27 23:38 | Report Abuse

Here something more about this company for your reading pleasure

https://www.sinchew.com.my/content/2019-03/21/content_2025877.html

Posted by charlie chia > 2019-07-27 23:53 | Report Abuse

Thks Mabel for your sharing
I got the ipo allotment
To sell or keep it

Posted by Mabel > 2019-07-28 00:26 | Report Abuse

I'm keeping it..

Next week constructions and Steel companies especially ECRL and BM related all rebound after this week's correction...

Posted by charlie chia > 2019-07-28 05:20 | Report Abuse

Mabel
How much will be your expectation on the listing date

Posted by cytew > 2019-07-28 05:55 | Report Abuse

I expect it will trade below IPO price

Posted by Mabel > 2019-07-28 07:43 | Report Abuse

Let's explore together..

That's why I took the Blue Form Offer from Prestar. I'm already in...

Hence, I won't be in a hurry on listing day to queue and book my train tickets. I will just watch from the sidelines to see how it goes.

If cytew is correct, I will buy and accumulate.

If it goes higher, i will just wait when it retract.

Steel companies is definitely in my portfolio. Once the economy picks up, steel business will be back. So this is one of my mid to long term portfolios..

All the best!

Posted by Richard KH Wong > 2019-07-28 12:47 | Report Abuse

Mabei Thank you for your sharing!

Posted by Mabel > 2019-07-28 23:11 | Report Abuse

With ECRL announced plus BM soon the Steel companies will be upgraded to mid term from long terms in my High Speed Rail Portfolio..


Time to be upbeat ...


https://www.youtube.com/watch?v=oRdxUFDoQe0

Posted by northeasttrend > 2019-07-29 00:13 | Report Abuse

Mabel, mind sharing which is the best among the steel companies you're holding?

Posted by newbird33 > 2019-07-29 00:21 | Report Abuse

The best steel play is iron ore mining company. There is only one such company in Bursa.

Posted by newbird33 > 2019-07-29 00:22 | Report Abuse

The best steel play is iron ore mining company. There is only one such company in Bursa.

Posted by Mabel > 2019-07-29 08:20 | Report Abuse

@northeasttrend Mabel, mind sharing which is the best among the steel companies you're holding?

My investments in steel companies are related to the companies that will benefits from the upcoming ECRL, HSR and Bandar Malaysia. I called these group of companies as Mabel High Speed Rail. Mabel High Speed Rail cover the following companies:

1. Construction Companies - AZRB, MRCB and Ikhmas
2. Steels Companies - PRESTAR, MASTEEL and Tashin
3. Properties Companies - SimeProperties, L&G, AsiaPac and TalamT

My Holding are as follows:

1. Construction Companies - 55%
2. Steels Companies - 20%
3. Properties Companies - 25%

Coming back to your question, among the 3, currently Prestar gives me the best margins.

All the Best!

Posted by Richard KH Wong > 2019-07-29 08:37 | Report Abuse

Morning all.................

Posted by Richard KH Wong > 2019-07-29 08:38 | Report Abuse

Mabel What do you think of ABMB? Is it a lousy counter?

Posted by northeasttrend > 2019-07-29 08:58 | Report Abuse

thks Mabel

Posted by Mabel > 2019-07-29 09:29 | Report Abuse

@Richard KH Wong Mabel What do you think of ABMB? Is it a lousy counter?

I have not invest in any banking sectors. The main reason is I think Banks already has too much money. Hence they don't need our helps.

My investment in Alliance is related Medical and Hospitalization so that I can continue to be relevant.

The banking market has not priced in another OPR cut, which therefore, make banking stocks susceptible to fresh sell-downs. Thus, this presents a short-term underperformance risk. Despite this and a modest growth outlook, you should draw comfort from the sector’s strong asset quality and capital position. Hence, my advice is to put in your long-term investors cap.

Hence Patience Is a Virtue..

Posted by 1502927130032254 > 2019-07-29 14:56 | Report Abuse

It’s time to going up Greatec

Posted by Richard KH Wong > 2019-07-29 15:24 | Report Abuse

@Mabel Thks for your comment!

Posted by kelvin > 2019-07-29 17:30 | Report Abuse

LOL. go to holland got lar

Posted by Mabel > 2019-07-30 07:48 | Report Abuse

Still long way to go to Holland Kelvin..

In day trading, there is no such thing as overvalued or undervalued. There are levels to watch out for because investors are likely to react off of them, overbought/oversold intraday prices, and reversal/continuation patterns.

Overvaluation/Undervaluation is a term used in fundamental analysis and investing to denote that over a relatively long period of time, the current valuation does not justify the true economic potential of GREATEC

Let's continue to monitor how she performs in the next Quarter reports. She's handling much better than Istones.

Posted by charlie chia > 2019-07-30 08:13 | Report Abuse

Mabel
Tashin 1st quarter profit shown improvement
Should be on the plus point for 1st August listing

Posted by Mabel > 2019-07-30 08:35 | Report Abuse

Yes it is.. That's why I accepted the Blue Form shares from Prestar..

Posted by Mabel > 2019-07-30 08:37 | Report Abuse

Tashin has been registering profits since 2015..

Net Profit Margin
2018: 4.33%
2017: 6.10%
2016: 5.67%
2015: 1.96%

Posted by Mabel > 2019-07-30 08:40 | Report Abuse

.. and the achieve it when the steel industry have very little growth in since 2015.

That is about to change with the upcoming ECRL, BM and HSR..

You need to put this type of stocks as your mid to long term investments..

Posted by tah16600 > 2019-07-31 09:02 | Report Abuse

I think game is over, better run

Posted by tah16600 > 2019-07-31 09:12 | Report Abuse

The big boys r slowly distributing lol !

Posted by tah16600 > 2019-07-31 09:23 | Report Abuse

Better switch to AZRB lol !

Posted by Aries > 2019-07-31 09:35 | Report Abuse

The have accumulated from all ikan bilis for so many days la.

Posted by tah16600 > 2019-07-31 09:41 | Report Abuse

Look at the chart which is rounding in shape, sign of bearish to come lol! .

Posted by tah16600 > 2019-07-31 09:44 | Report Abuse

Better not to touch a newly listed company, cos no track record mah !

Posted by tah16600 > 2019-07-31 10:00 | Report Abuse

Go for AZRB now , u won't be wrong . folks

Posted by tah16600 > 2019-07-31 10:11 | Report Abuse

If I am not wrong ,today may be closed below yesterday price.

Posted by 1502927130032254 > 2019-07-31 11:45 | Report Abuse

Flying to moon soon