Late QR? hopefully a surprise good result, the ceo is optimistic about the company, but as they have foreign cilents, profits made in FX should increase as MYR is depreciating
Share price likely bearish in short term, but prospects still good and transer to main market is progressing well, they are nett cash position and little debt
KUALA LUMPUR (March 12): Phillip Capital has maintained its “buy” rating on UMediC Group Bhd at 66 sen with a higher target price (TP) of RM1.08 (from 87 sen) and said UMediC’s 6MFY24 core net profit of RM5.3 million (+7.8% y-o-y) was in line with house forecast but missed consensus estimates. In a note on Tuesday, the research house said the sequential earnings improvement was mainly driven by better margins from the manufacturing and distribution segments. “We raise our target price to RM1.08 (from 87 sen) after rolling forward our valuation horizon to FY25, based on unchanged 25x PE multiple.
“We expect the commencement of new factory and product launches to drive stronger earnings delivery ahead. “Key risks include slowdown in medical equipment demand, and the loss of license,” it said.
(UMC) transition to the main market is progressing well on track, according to executive director/chief executive officer Lim Taw Seong.
“We believe that this strategical move is poised to unlock vast new opportunities for us to further growth and expand which underscores our continuous commitment in bringing excellence towards healthcare catering to the evolving needs of the industry,” Lim said in a statement.
“As we continue to expand, we have also started to ramp up our efforts by strengthening our workforce in anticipation of the imminent launch of our new facility slated to commence production in the coming months.
“The new factory will not only double our manufacturing capabilities but also enable us to meet the rising demand for medical consumables globally enabling us to better grow our regional footprint and propel us to new heights,” he added.
On behalf of the Board, Affin Hwang IB wishes to announce that Bursa Securities had, vide its letter dated 18 April 2024, approved the Transfer under the "Health Care" sector.
The Transfer will take effect immediately two (2) market days upon the announcement to Bursa Securities on the transfer date via Bursa Link.
annoucement dated 18th April meaning its thursday....2 market days means friday and monday , so tuesday should have been transferred , but today wednesday meaning 4th day already...maybe need to wait further annoucements.
its 2 market days upon annoucement on the transfer date to Bursa...so i think Umedic need to inform the intended transfer date to Bursa first...and after that , 2 days from the date Umedic inform Bursa kot
At this valuation, the company needs to prove its able to grow at a double digit CAGR in order to justify it, if they cant the share price will fall off a cliff and they might not deserve such a high valuation
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roger3210
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Posted by roger3210 > 2023-09-06 12:37 | Report Abuse
Quarter result to be announced very soon. be cautious