RGB INTERNATIONAL BHD

KLSE (MYR): RGB (0037)

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Last Price

0.37

Today's Change

+0.005 (1.37%)

Day's Change

0.37 - 0.375

Trading Volume

1,463,500

Financial

Show?
Last 10 FY Result
AQR T4Q 31/12/23 31/12/22 31/12/21 31/12/20 31/12/19 31/12/18 31/12/17 31/12/16 31/12/15 31/12/14 CAGR
Revenue 619,384 588,692 707,821 272,473 216,326 184,028 351,097 379,250 252,351 253,504 233,006 214,646 14.16%
PBT 91,460 48,348 43,952 8,683 -7,001 -27,958 42,841 35,165 40,374 30,994 25,111 19,696 9.32%
Tax -10,080 -12,059 -11,651 -4,893 -2,944 -1,118 -2,666 274 -9,676 -5,693 -3,822 -1,540 25.19%
NP 81,380 36,289 32,301 3,790 -9,945 -29,076 40,175 35,439 30,698 25,301 21,289 18,156 6.60%
-
NP to SH 82,084 40,495 36,488 4,629 -9,823 -28,737 39,766 35,173 30,278 24,853 20,863 18,526 7.81%
-
Tax Rate 11.02% 24.94% 26.51% 56.35% - - 6.22% -0.78% 23.97% 18.37% 15.22% 7.82% -
Total Cost 538,004 552,403 675,520 268,683 226,271 213,104 310,922 343,811 221,653 228,203 211,717 196,490 14.69%
-
Net Worth 277,353 277,353 261,945 231,455 216,084 231,519 263,188 230,791 214,410 197,246 163,384 104,869 10.69%
Dividend
AQR T4Q 31/12/23 31/12/22 31/12/21 31/12/20 31/12/19 31/12/18 31/12/17 31/12/16 31/12/15 31/12/14 CAGR
Div 36,980 40,062 30,817 - - - 4,644 10,770 13,400 3,944 6,284 2,913 29.94%
Div Payout % 45.05% 98.93% 84.46% - - - 11.68% 30.62% 44.26% 15.87% 30.12% 15.72% -
Equity
AQR T4Q 31/12/23 31/12/22 31/12/21 31/12/20 31/12/19 31/12/18 31/12/17 31/12/16 31/12/15 31/12/14 CAGR
Net Worth 277,353 277,353 261,945 231,455 216,084 231,519 263,188 230,791 214,410 197,246 163,384 104,869 10.69%
NOSH 1,548,245 1,548,245 1,548,245 1,548,245 1,548,245 1,548,245 1,548,245 1,539,089 1,340,547 1,314,973 1,256,807 1,165,220 3.20%
Ratio Analysis
AQR T4Q 31/12/23 31/12/22 31/12/21 31/12/20 31/12/19 31/12/18 31/12/17 31/12/16 31/12/15 31/12/14 CAGR
NP Margin 13.14% 6.16% 4.56% 1.39% -4.60% -15.80% 11.44% 9.34% 12.16% 9.98% 9.14% 8.46% -
ROE 29.60% 14.60% 13.93% 2.00% -4.55% -12.41% 15.11% 15.24% 14.12% 12.60% 12.77% 17.67% -
Per Share
AQR T4Q 31/12/23 31/12/22 31/12/21 31/12/20 31/12/19 31/12/18 31/12/17 31/12/16 31/12/15 31/12/14 CAGR
RPS 40.20 38.21 45.94 17.66 14.02 11.92 22.68 24.65 18.83 19.28 18.54 18.42 10.68%
EPS 5.32 2.63 2.37 0.30 -0.64 -1.91 2.58 2.29 2.27 1.89 1.66 1.59 4.53%
DPS 2.40 2.60 2.00 0.00 0.00 0.00 0.30 0.70 1.00 0.30 0.50 0.25 25.97%
NAPS 0.18 0.18 0.17 0.15 0.14 0.15 0.17 0.15 0.16 0.15 0.13 0.09 7.31%
Adjusted Per Share Value based on latest NOSH - 1,548,245
AQR T4Q 31/12/23 31/12/22 31/12/21 31/12/20 31/12/19 31/12/18 31/12/17 31/12/16 31/12/15 31/12/14 CAGR
RPS 40.01 38.02 45.72 17.60 13.97 11.89 22.68 24.50 16.30 16.37 15.05 13.86 14.17%
EPS 5.30 2.62 2.36 0.30 -0.63 -1.86 2.57 2.27 1.96 1.61 1.35 1.20 7.79%
DPS 2.39 2.59 1.99 0.00 0.00 0.00 0.30 0.70 0.87 0.25 0.41 0.19 29.80%
NAPS 0.1791 0.1791 0.1692 0.1495 0.1396 0.1495 0.17 0.1491 0.1385 0.1274 0.1055 0.0677 10.70%
Price Multiplier on Financial Quarter End Date
AQR T4Q 31/12/23 31/12/22 31/12/21 31/12/20 31/12/19 31/12/18 31/12/17 31/12/16 31/12/15 31/12/14 CAGR
Date 28/06/24 28/06/24 29/12/23 30/12/22 31/12/21 31/12/20 31/12/19 31/12/18 29/12/17 30/12/16 31/12/15 31/12/14 -
Price 0.47 0.47 0.27 0.18 0.12 0.14 0.175 0.19 0.28 0.28 0.18 0.135 -
P/RPS 1.17 1.23 0.59 1.02 0.86 1.17 0.77 0.77 1.49 1.45 0.97 0.73 -2.33%
P/EPS 8.82 17.88 11.40 60.00 -18.86 -7.52 6.81 8.31 12.39 14.81 10.84 8.49 3.32%
EY 11.33 5.59 8.77 1.67 -5.30 -13.30 14.68 12.03 8.07 6.75 9.22 11.78 -3.22%
DY 5.11 5.53 7.41 0.00 0.00 0.00 1.71 3.68 3.57 1.07 2.78 1.85 16.65%
P/NAPS 2.61 2.61 1.59 1.20 0.86 0.93 1.03 1.27 1.75 1.87 1.38 1.50 0.64%
Price Multiplier on Announcement Date
AQR T4Q 31/12/23 31/12/22 31/12/21 31/12/20 31/12/19 31/12/18 31/12/17 31/12/16 31/12/15 31/12/14 CAGR
Date 26/08/24 26/08/24 29/02/24 27/02/23 25/02/22 03/03/21 27/02/20 26/02/19 27/02/18 22/02/17 23/02/16 26/02/15 -
Price 0.395 0.395 0.29 0.235 0.115 0.135 0.20 0.235 0.285 0.33 0.165 0.175 -
P/RPS 0.98 1.03 0.63 1.33 0.82 1.13 0.88 0.95 1.51 1.71 0.89 0.95 -4.45%
P/EPS 7.41 15.03 12.25 78.34 -18.07 -7.25 7.79 10.28 12.61 17.46 9.94 11.01 1.19%
EY 13.49 6.65 8.17 1.28 -5.53 -13.79 12.84 9.73 7.93 5.73 10.06 9.09 -1.17%
DY 6.08 6.58 6.90 0.00 0.00 0.00 1.50 2.98 3.51 0.91 3.03 1.43 19.09%
P/NAPS 2.19 2.19 1.71 1.57 0.82 0.90 1.18 1.57 1.78 2.20 1.27 1.94 -1.39%

PBT = Profit before Tax, NP = Net Profit, NP to SH = Net Profit Attributable to Shareholder, Div = Dividend, NP Margin = Net Profit Margin, ROE = Return on Equity, NOSH = Number of Shares, RPS = Revenue per Share, EPS = Earning Per Share, DPS = Dividend Per Share, NAPS = Net Asset Per Share, EOQ = End of Quarter, ANN = Announcement, P/RPS = Price/Revenue per Share, P/EPS = Price/Earning per Share, P/NAPS = Price/Net Asset per Share, EY = Earning Yield, DY = Dividend Yield.

NOSH is estimated based on the NP to SH and EPS. Div is an estimated figure based on the DPS and NOSH. Net Worth is an estimated figure based on the NAPS and NOSH.

Div Payout %, NP Margin, ROE, DY, QoQ ⃤ & YoY ⃤ figures in Percentage; RPS, EPS & DPS's figures in Cent; and NAPS's figures in Dollar.

All figures in '000 unless specified.

Discussions
13 people like this. Showing 50 of 8,200 comments

ceoshare

这个星期可以动到0.45吗 ？

2024-05-21 16:48

ceoshare

第一轮 ， 庄会卖出的价钱。 RM 0. 445 - 0.455. 希望熬的过。。 这个价位。

2024-05-23 09:49

RGBeric

RGV hanging on tight!

2024-05-27 14:52

necessity

i ll buy the dip..hahahha

2024-05-27 15:24

ceoshare

RGB 有点量跌。。 业绩应该不理想

2024-05-30 16:27

ceoshare

RESULT OuT>.

2024-05-30 17:07

ceoshare

Got Divided/

2024-05-30 17:07

ceoshare

如果业绩维持这样 ， 长期股价可以去到 RM0.70 - 0.90

2024-05-30 17:18

ivanlau

-------- quote ------

Stock: [RGB]: RGB INTERNATIONAL BHD

2 weeks ago | Report Abuse

As per my calculation, coming QR eps will be around 1.50 - 1.90 , if based on forward eps 6 x 10pe , the fair value at least 0.60 , today closing 0.39, think about that.......
-------- unquote -------
QR 1.44 , nearly hit my expectation 1.50, still maintain my TP 0.60 , cheers......

2024-05-30 17:48

ceoshare

AWARDED 一个 PROJECT 价值 接近4亿。。 这个应该是开胃菜。 希望 7月份再公布多一个。

2024-05-30 21:35

pangolin

not so bad , another 0.006 cents div , better than ganting malaysia

2024-05-30 22:50

ceoshare

https://agbrief.com/news/philippines/02/04/2024/philippines-westside-city-project-to-open-main-hotel-casino-in-first-quarter-of-2025/

2024-05-31 09:05

ceoshare

https://agbrief.com/news/philippines/02/04/2024/philippines-westside-city-project-to-open-main-hotel-casino-in-first-quarter-of-2025/

2024-05-31 09:05

ceoshare

明年第一个季度营业（酒店+ 赌场） ， 估计 今年7 - 9 月分公布另外一个赢的 PROJECT...

2024-05-31 09:09

ceoshare

The company notes that at the opening, the casino establishment will have 281 gaming tables, 1,126 slot machines, and 134 electronic table games for both the mass and VIP markets.

2024-05-31 09:09

necessity

undervalue by 75%..earning forecast over 50%..over 400% earning grew last year..
with the good news from our friends in thai and Philippine..i am definitely jump in..

2024-06-04 12:42

ceoshare

投行目标价 RM0.66 。。 希望这几天可以稳稳 0.44 。。 下个星期 0.46 - 0.48

2024-06-05 23:13

BryanW

Back to 0.455, potential to breakout in this week, else a correction will be seen.

2024-06-10 17:27

ceoshare

10 June 2024

RGB International Bhd (RGB) @ 42.5 Sen – A Gaming gem with valuation of 60 Sen to 72 Sen

Currently at 42.5 Sen it is trading at historical PE 10.81 based on CORE EPS of 3.93 Sen (audited EPS of 1.65 Sen for FY 2023 adding back all exceptional expenses per attached Excel Worksheet).

RGB at 42.5 Sen, presents an enticing investment opportunity with substantial upside potential. Our analysis suggests a conservative valuation range of 60 Sen to 72 Sen, reflecting a compelling 41% to 69% upside, contingent upon the Mr. Market's recognition of RGB's true value.

Valuation
Our valuation is underpinned by robust financial modelling, projecting an EPS of 6 Sen for FY 2024. This projection is supported by the recent securing of a significant contract worth RM381 million for the supply and delivery of Slot Machine Equipment in FY 2024. Based on a PE range of 10 to 12, our model suggests a fair valuation of 60 Sen to 72 Sen.

Financial Performance
RGB's Q1 FY 2024 results demonstrated a remarkable improvement over FY 2023, with a revenue of RM210 million and reported a PBT of RM25.276 mil and a PAT of RM22.005 million with EPS of 1.44 Sen. Compared to FY 2023 where the revenue was RM699 mil with PBT of RM32.79 mil (the adjusted core PBT after adding back the exceptional expenses was RM72.125 mil) and the PAT was RM34.0 mil (Core PAT = RM60.546 mil) with an EPS of 1.65 Sen (core EPS adding back exceptional items = 3.93 Sen).

Notably, the company reported no bank borrowings and maintains a healthy cash balance of RM185.5 million, indicative of its strong financial position. Additionally, RGB has consistently generated positive operating cash flow, with Q1 FY 2024 recording RM24.4 million.

Catalysts for Rerating
Several catalysts support our bullish outlook on RGB:
• Exceptional Q1 2024 results with significant growth compared to FY 2023. Q1 PAT of RM22.005 mil is 36.3% of FY 2023 Core PAT of RM60.546 per the excel worksheet attached.

• Securing a lucrative contract from Philippine Amusement and Gaming Corporation ("PAGCOR") for the supply and delivery of Slot Machine Equipment, valued at RM381 million.

• The anticipated positive contribution to earnings and net assets per share from the PAGCOR contract in FY 2024 commencing from Q3.

• At conservative net margin after tax of about 10% (we understand from investor briefing net margin range from 9% to 12% depending on order quantity), we estimated the impact after tax of the contract could be about RM38 million net profit given the Macau tax rate is 12%.

2024-06-10 18:47

ceoshare

• Favourable industry dynamics driven by the resurgence of the gaming sector post-pandemic and increased demand for gaming facilities.

Strong Financial
• The Company has a cash balance of RM185.5 mil (including other investments) with no bank borrowing on 31 March 2024.

• The cash per share is about 12.04 Sen compared to the net asset of the Company of 17 Sen. The Company has been in net cash position since 2015.

• Strong business cashflow with cash generated from operation for Q1 amounted to RM24.4 mil and for FY 2023 the cash generated from operation was RM123.81 mil.

The booming tourism industry and arrival of tourists is driving up the business of gaming resorts and gaming outlets operators. We understand the gaming industry is back to pre-pandemic level and all operators are operating at optimum capacity and looking at expanding their facilities and upgrading to newer EGM (electronic gaming machine). This demand augurs well for RGB.

The Company business in Philippines (its major market) is going to benefit from new casinos scheduled to open in the next few years as well as from the privatization of 41 casinos by the Philippines Gaming Regulator (PAGCOR). Do take note that on 30 May 2024 the Company had announced its subsidiary in Macau had secured a RM381 mil new order of gaming machines from a new Casino in Philippines for deliveries in FY 2024. RGB International Bhd (“RGB”), a leading casino machine supplier has been in the gaming industry for over 30 years. As international border is now reopened, and casino licenses have been rolling out extensively to boost economy, we believe RGB is poised for a growth in FY2023 and onwards.

Investment Merits
• Group successfully secured a RM381 million contract for a new casino in Philippines to be delivered in FY 2024 which will bolster its profit.

• Exclusive distributor for two main slot machines suppliers (Light & Wonder and Aristocrat) in the Philippines where the company hopes to benefit from the casinos scheduled to open in the next few years as well as from the privatization of 41 casinos by the Philippines gaming regulator (PAGCOR).

• Increasing Gross Profit margin to about 19.4%.

• Strong Balance Sheet with Net Asset per share of 17 Sen

• Cash balance of RM185.5 mil and cash per share of 12.04 Sen per share

• Gearing: Nil

• Net positive operating Cashflow of RM24.4 mil for 3 mths FY 2024 (RM123.8 mil FY 2023)

Conclusion

A share worth to buy in on weakness @42.5 Sen with huge potential upside of 41% to 69% with a valuation of 60.0 Sen to 72.0 Sen using PE 10 to PE 12.

Share Price RM0.425
Market Capital (RM): 658.0 million
Number of Share: 1.541 billion
EPS: 3.11 Sen (4 rolling qtrs.)
Estimated FY 2024 EPS: 6.0 Sen
P/E Ratio using FY 2024 Estimated EPS: 7.08
ROE (%): 18.29%
NTA/share: RM 0.17
Share Price range (1 Year): 25.5 Sen to 46 Sen

2024-06-10 18:48

ceoshare

以上的帖， 是从其他地方 POST 的。

2024-06-10 18:48

pangolin

i seat tight waiting for bonus issue after year 2018, move up 50c now

2024-06-13 00:12

RGBeric

Strong movement today!

2024-06-20 15:16

ceoshare

Final draft of Thai casino entertainment complex bill to be ready in 4 weeks
https://www.thestar.com.my/aseanplus/aseanplus-news/2024/06/19/final-draft-of-thai-casino-entertainment-complex-bill-to-be-ready-in-4-weeks

2024-06-20 17:53

ceoshare

今年去到 RM0,80 可以吗 ？

2024-06-20 17:55

ceoshare

RGB 什么时候去THAILAND 开 OFFICE ？

2024-06-22 20:05

ceoshare

下个星期就 RM 0.50以上。。

2024-06-26 16:08

ceoshare

A new integrated resort by billionaire Enrique Razon's Bloombery Resorts Corp will open in Manila later in 2024, while up to eight more casino projects are being planned, Mr Alejandro Tengco, chairman and chief executive of state regulator Philippine Amusement and Gaming Corporation (Pagcor), said in an interview a

2024-07-06 12:57

Cakes Moon

Steady uptrend!!!
Slow & stable, good to hold!!!

2024-07-16 10:59

Leona Leong

Drop back to original :(

2024-07-23 15:22

RGBeric

uptrend idk lah, but really slow now....

2024-07-26 16:41

pangolin

share price adjustment from 505- 405 , should i top up if touch beow 40c ??

2024-07-26 23:58

rob8ry24

any below 40 just hoot9e

2024-07-29 11:42

BryanW

Around 0.390 - 0.400 is a strong support and with the support of MA 200.

2024-07-29 19:51

JacNgu

HLIB BUY CALL!. RISKY. hit & run. hahaha

2024-07-31 12:23

N4rc0t

Back like a boss

2024-08-06 15:54

RGBeric

slow slow comeback

2024-08-07 16:10

Noni

Strong

2024-08-10 22:32

pangolin

quarter result out around this week, rgb possible for 0.6c ??

2024-08-21 16:13

ceoshare

RESULT OUT.., DIVEDED 0.006

2 months ago

ivanlau

If based on forward eps 5x 12 pe, the fair value will be rm 0.60 , today closing 0.395 ......

2 months ago

pangolin

well done !!!! 0.006 for every quarter , 0.024 per year , 10-11 % ROI , better than FD !!

2 months ago

ceoshare

市场情绪不好。 看没有路

2 months ago

raymondroy

https://www.thestar.com.my/business/business-news/2024/09/16/rgb-hits-jackpot-post-pandemic

Interesting article and growth story :-)

2 months ago

ceoshare

Following the Company's announcements on 28 August 2023, 29 August 2023 and 4 September 2023, the Board of Directors of RGBI wish to inform that the matter in reference to RGB Sdn Bhd and Dato' Seri Chuah Kim Seah with the authority, has been completed and resolved, with no further action on the part of the authority.

1 month ago

ceoshare

SEttle case

1 month ago

pangolin

time to break 50c after case settled

1 month ago

ceoshare

RGB International– BUY (Jack Goh) • Well-positioned to capture the exponential slot machine growth in ASEAN gaming jurisdictions. The ASEAN gaming scene, especially in the Philippines, remains highly charged with aggressive gaming capacity expansion and post-pandemic replacement cycle. Hence, RGB is poised to largely benefit from this trend. Note that RGB has >70% market share in the Indochina and the Philippines’ slot machines markets. • Sequential years of lucrative earnings base in the making; on track for record-high earnings in 2024. RGB’s sales, support and marketing division is poised to deliver sales of about 4,500 slot machines for 2024 (vs 1,500-1,700 units before the COVID-19 pandemic). Meanwhile, the concession-based technical support and management division has been recovering progressively and is set to recover to 80-90% of 2019’s profitability levels in 2024. Including RM8m-12m in interest income (5% interest on RM160m-246m net cash) and contributions from the engineering services division, RGB is forecasted to achieve a record-high profit of RM113m in 2024. • On cloud nine after securing massive SSM orderbook from PACGOR. At end-May 24, RGB revealed that the group secured a RM383m (US$81.3m) contract from Philippine Amusement and Gaming Corporation (PAGCOR) to supply 1,968 electronic gaming machines and accessories. We believe this is to support PACGOR’s modernisation programme which includes revamping the gaming floor and rolling out new slot machines ahead of the privatisation of its casino operations. We expect these orderbooks to be fulfilled and translated into RGB’s earnings in 2Q-3Q24, which will pave the way for RGB to deliver meaningful qoq earnings growth in the upcoming quarters. • Deep-in-value financial matrixes reaffirm our investment thesis. Despite a >40% ytd
share price rally, RGB’s bargain valuations of 6x 2024F PE (4x ex-cash PE) still offer palatable potential capital upside. More importantly, RGB’s current net cash of about RM185m (27% of market cap) is more than sufficient to support our 40% dividend payout forecasts and lush yields of 7-8% in 2024-25. Should management raise the dividend payout ratio to 50%, prospective yields will likely be 8-10%. • Maintain BUY and target price of RM0.66, which implies 9x 2024F PE (pre-pandemic mean), 4x 2024F ex-cash PE, and 4.5x 2024 EV/EBITDA.

1 month ago

pangolin

infact , compare with genting m , RGB ROI IS much much better than genting m

1 month ago

ceoshare

会公布新的PROJECT 吗 ？

1 month ago

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