Keep your eyes in this counter a growing construction company.. Boss has established reputation in the industry starting from engineering professional services business and subsequently venture into construction business.. More projects are on the way including factory expansion project (you know which industry is heavily invest in expanding their plants)
Current price undervalued. Dividend yield 2.5% based on 40 sen price. Already beat FD return for 1 year. Limited downside. Any price downward is buying opportunity. Never disappoint since IPO make double return already. Satisfied investor.
1H20 results underpinned by strong pipeline Maybank IB Retail Research
TCS, which provides construction services for buildings, infrastructure, civil and structural works in Malaysia, reported a net profit of MYR1.0m and MYR6.1m in 2Q20 and 1H20 respectively. If not for the MYR2.3m listing expenses, TCS’ 2Q and 1H net profit would have been higher at MYR3.3m and MYR8.3m respectively. No comparative figures were available as the group was listed on the ACE Market on 23 Jul 20. The group declared a first interim single-tier dividend of 1 sen/sh. In 1H20, revenue was contributed by on-going projects such as the Hermington project, the Tropicana Urban Homes project and the Suria Pantai project. Residential projects continued to be its anchor revenue driver, accounting for 98% of the group’s revenue. At present, prospects for its construction business look promising, underpinned by an estimated order book of MYR670m, which is equivalent to 1.9x its FY19 revenue.
Notably, the group has already secured two new contracts worth a total of MYR214.7m since its listing. Having a strong pipeline is crucial for TCS, for management has indicated that it will remain as a pure play construction company. Besides tendering for more projects to replenish its construction order book, the group also intends to widen its scope to include works related to major roads, highways and bridges. At present, no broker covers the stock. But as earnings visibility improves, it should garner greater interest from the investment community. Since its listing on 23 Jul 2020, its share price soared 87%. Valuation wise, the stock is trading at 9.3x annualised 1H20 core EPS of 4.6sen. In comparison, the Bursa Malaysia Construction Index trades at a prospective 2020 P/E of 14.7x. Potential share price catalyst includes more job wins.
Put your seatbelt!!!! @billionn open up your eyes and see further.. Don’t use eye sight from turtle shell investment is for long term spot a good growing company hold it tight wait it to fly
@thebighead PITY YOU!!! U must be holding on to this counter since IPO 0.6 TILL NOW LESS than 0.4. Hope you dun have to sell your condo and car to cover your loses.
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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....
jungleboy
1,042 posts
Posted by jungleboy > 2020-07-29 15:42 | Report Abuse
rm1..by dec20?