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Thursday, October 31, 2013

Berjaya Auto IPO Share Price Target

According to TA Securities, based on Berjaya Auto IPO price of RM0.70, BJAuto will trade at 9.1x FY14 PER and 7.8x FY15 PER. They give Berjaya Auto fair value of RM0.91, using CY14 EPS of 8.1sen and PER of 11.2x. The PER of 11x represents a 10% discount to its local peers’ average PER of 12.4x. We believe the discount is justifiable due to its relatively small market capitalisation and industry market share in the non‐national cars segment. Their fair value offers a total potential of upside of 34.0% (capital upside: 29.6%, dividend yield: 4.4%).

 

Kenanga said their indicative Berjaya Auto Target Price of RM0.92 is based on FY15E PE Ratio of 11x, which is at a 15% discount (for its relatively smaller market cap and smaller market share in the local

automotive market) of the current valuations of its closest competitors, Tan Chong Motor

Holdings and UMW Holdings, both trading at an implied forward PER of c.13x.  They said based on their free cash flow assumption of RM53.3m in FY15, they see possibility for the payment of 40% Dividend Payout Ratio which is equivalent to total c.RM28m dividend payment or 3.3sen/share, implying a 4.7% Berjaya Dividend Yield based on the IPO price of RM0.70.

 

For more information on other recent IPO, here.
http://politemarket.blogspot.com/search/label/IPO

More information on BJAUTO IPO here.
http://politemarket.blogspot.com/search/label/Berjaya%20Auto
 

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Friday, October 25, 2013

KAREX IPO Balloting Result Table oversubscribed

MIH is pleased to announce that the Karex Berhad's ("Karex") Initial Public Offering ("IPO") under which 13,500,000 Issue Shares were made available for applications by the Malaysian Public has been oversubscribed and the balloting of successful applications was conducted this evening.

A total of 20,795 applications for 307,270,600 Issue Shares were received from the Malaysian Public for a total of 13,500,000 Issue Shares reserved for public subscription, which represent an oversubscription rate of 21.76 times.

All notices of allotment for these Shares will be mailed to successful applicants on or before November 4, 2013.

If you look at the subscription rate, the chances of striking the IPO is very low. Saw from web site that if apply public 1,000 shares, the chances are 1.64%


Note !!!!!!!   Those who strike, may not get full allocation.

  

1,000         1.64%

10,000        5.1% 

100,000       9.2%

1,000,000   36% 

 
Note !!!!!!!   Those who strike, may not get full allocation.

 

Bumiputra portion:

 1,000    8.9%.   

 10,000   14%      

100,000  75%       

1,000,000   100%  

 

Note !!!!!!!   Those who strike, may not get full allocation.

 

 

For more information on Karex IPO, here.


 

Article Durex Special condom for pre mature ejaculation, click link here.



For more information on other recent IPO, here.
http://politemarket.blogspot.com/search/label/IPO

 
 

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Wednesday, October 23, 2013

How I made 40% Gain in less than 50 Days

As I have posted on 5 September 2013 in my blog and my blog Facebook that I am buying additional Zhulian, Zhulian share price was RM3.10, and I bought at RM3.1x. Few days ago, in less than 50 days Zhulian share price went up more than 40%, and now is RM4.40, an increase of about 42%.

How was I able to achieve this?

The answer is nothing great, it was just right timing. Seldom happen after I bought the stock, immediate the share price went up sharply.

Yes, I repeat, for me I seldom have short term huge gain, For the past three years, only few times the stock price went up sharply immediate after I bought. But if you have been reading my blog regularly, you will know that in medium to long term I’m able to make huge gain from the stock that I have bought, 100%, 200% 300%, etc.

Previously many readers asked to reveal the stocks that I’m buying, yes I did. Many people until the stock already went up then only reveal, but I reveal on the spot, that is the time that I was buying.

Now got readers ask me to reveal my portfolio. I have already revealed the stocks that I’m buying, therefore, I think portfolio is not necessary, and I have other reasons for that. One of the reasons is that I don’t have time to keep updating my portfolio and post it.

By the way, I do not have to prove to anyone. I am just an ordinary investor, who invest using a good method and made money, and wish to share my investment journey. Just like you found a good restaurant with good food, and just want to tell everyone. Not asking others to follow the stock that I buy or give recommendation, but it is just sharing my investment journey.

Please LIKE my blog Facebook to keep track on the stock that I buy.



More info on Zhulian, here.
http://politemarket.blogspot.com/search/label/Zhulian



 
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Tuesday, October 22, 2013

Caring Pharmacy IPO Target Price

Recently there are few IPO coming up. Now let us look at Caring Pharmacy IPO target price. Caring Pharmacy IPO price is RM1.25 and closing of application is on 30/10/2013.
 
Kenanga give Caring Pharmacy fair value at RM1.55 based on 13x CY14 EPS of 11.9 sen. They expect Caring to register net profit of RM23.8m and RM27.4m in FY14 and FY15, respectively. They conservatively forecast a 17% revenue growth each in FY14 and FY15, which is conservatively lower than the past three years average of 20% on the back of same-store-sales growth and opening of new outlets. They have factored in marginally lower margins taking into account higher advertising and promotion activities in an effort to increase or sustain its market share in our forecasts. Based on their earnings estimate and a 30% dividend payout assumption, they expect FY14 and FY15 net Dividend Per Share of 3.3 sen and 3.8 sen respectively, translating to an average Caring Pharmacy dividend yield of 3%.

Their fair value is RM1.55 is based on 13x CY14 EPS of 11.9 sen. The Caring Pharmacy PE ratio of 13x multiple is at 22% and 30% discount to Berjaya Food’s 1-year forward PER of 17.0x and Berjaya  Retail’s 18.5x PER valuation, respectively, when it was taken private.



For more information on other recent IPO, here.
http://politemarket.blogspot.com/search/label/IPO

More information on Caring Pharmacy IPO, here.
http://politemarket.blogspot.com/search/label/Caring%20Pharmacy

 

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Monday, October 21, 2013

Karex IPO Target Price

Before we look at the Karex target price that will be mentioned below, we take a guess, what will be the target price. The Karex IPO price is RM1.85. From RM1.50 to RM1.85? From RM1.85 to RM2.00? Or from RM2.00 to RM2.40?

TA Securities said due to the lack of pure listed condom manufacturers, they base their valuation on their targeted glove industry PE ratio of 14x. They give Karex fair value at RM2.40 per share based on a 25% premium to their targeted PE multiple. Incorporating proceeds from capital gains and dividend yield, this translates into a total return of 31.9%. They believe their PE multiple is justified given the following arguments: 1) Largest condom manufacturer in the world; 2) Aggressive expansion plans to double capacity within three years; and 3) Access to key licenses and accreditations to export products across 110 countries. Nevertheless, key threats include: 1) Inability to fully utilize incoming capacity; 2) Delays in construction of new facilities and 3) Fluctuations in currency exchange rates and material prices.

2014 Karex dividend yield is about RM2.2%, assuming a 30% payout ratio. Currently management does not have any Karex payout ratio policy.

TA Securities initiate coverage on Karex with a target price of RM2.40 per share. They like the group for its aggressive expansion plan to double capacity to 6.0bn pieces of condoms/annum by 2015. Assuming a utilization rate of 70% and average selling prices (ASPs) of 3 cents (9.6 sen) per condom, the additional capacity will boost revenue by RM201.6mn once completed (FY13: RM231.4mn).

Before I read the comments by TA Securities, I heard someone talk about Karex IPO, most of them are very good points. In my mind I was thinking, what is so good about Karex.

One thing that surprises me is that, one condom cost around RM0.09 only? I thought condom more than RM1.00?

Will post more if I have other information on Karex IPO.

 
For more information on Karex IPO, here.
http://politemarket.blogspot.com/search/label/Karex


Article Durex Special condom for pre mature ejaculation, click link here.
http://politemarket.blogspot.com/2013/09/durex-special-condom-for-pre-mature.html

 

For more information on other recent IPO, here.
http://politemarket.blogspot.com/search/label/IPO

 
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Saturday, October 19, 2013

UMW OIL & GAS CORPORATION BERHAD IPO Balloting Result Table oversubscribed


MIH is pleased to announce that UMW Oil & Gas Corporation Berhad's initial public offering ("IPO") to the Malaysian Public ("Public Retail Offering"), comprising 43,240,000 Issue Shares has been oversubscribed and the balloting of successful applications was conducted.

A total of 38,806 applications for 506,626,200 Issue Shares were received from the Malaysian Public representing an average oversubscription rate of 10.72 times.
 
All notices of allotment for the IPO Shares will be mailed to successful applicants on or before 31 October 2013.


The final retail price and institutional price is fixed at RM2.80.

If you look at the subscription rate, the chances of striking the IPO is not very low. Saw from web site that if apply public 1,000 shares, the chances are 4.8%

 
1,000         4.8%

10,000        8.7%  

100,000       12%

 1,000,000   23%  

  

 

Bumiputra portion:

1,000    21%.   

10,000   24%      

100,000  53%       

1,000,000   100%  

  

Note: Those who strike, may not get full allocation.


 

For more information on Caring Pharmacy IPO, here.

 

 

For more information on Berjaya Auto IPO, here.

 


 

For more information on Karex IPO, here.

 

 

For more information on recent IPO, here.
http://politemarket.blogspot.com/search/label/IPO

 

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Friday, October 18, 2013

BERJAYA AUTO IPO and CARING PHARMACY GROUP IPO

BERJAYA AUTO BERHAD IPO.

Berjaya Auto is the listing vehicle of BerMaz Motor Sdn Bhd, a 75.4%- owned subsidiary of BCorp. Berjaya Auto is Mazda vehicles’ distributor, assembler, retailer and after sales services provider. The company is also involved in the domestic distribution of locally assembled Mazda vehicles through Ber-Maz and export of Mazda vehicles assembled in Malaysia. Source: Free Malaysia Today and The Malaysian Reserve March 2013.

Opening of application 18/10/2013

Closing of application 01/11/2013

Balloting of applications  08/11/2013

Allotment of IPO shares to successful applicants 14/11/2013

Tentative listing date  18/11/2013
RM0.70.

Stock Code stock name is BJAUTO stock.

PUBLIC ISSUE OF 82,763,000 NEW ORDINARY SHARES OF RM0.50 EACH IN BERJAYA AUTO BERHAD (“BAUTO”) (“ISSUE SHARES”) COMPRISING:

• 41,449,000 ISSUE SHARES ALLOCATED BY WAY OF PRIVATE PLACEMENT TO MALAYSIAN INSTITUTIONAL AND SELECTED INVESTORS;
 • 10,157,000 ISSUE SHARES ALLOCATED TO BUMIPUTERA INVESTORS APPROVED BY THE MINISTRY OF INTERNATIONAL TRADE AND INDUSTRY;
 • 19,157,000 ISSUE SHARES RESERVED FOR APPLICATION BY THE ENTITLED SHAREHOLDERS OF BERJAYA CORPORATION BERHAD (AS DEFINED HEREIN); AND
 • 12,000,000 ISSUE SHARES RESERVED FOR APPLICATION BY THE ELIGIBLE DIRECTORS AND EMPLOYEES OF BAUTO AND ITS SUBSIDIARIES (“BAUTO GROUP”), AND THE ELIGIBLE BUSINESS ASSOCIATES WHO HAVE CONTRIBUTED
 TO THE SUCCESS OF THE BAUTO GROUP,

SUBJECT TO THE CLAWBACK AND REALLOCATION PROVISIONS AT AN ISSUE PRICE OF RM0.70 PER ISSUE SHARE IN CONJUNCTION WITH THE LISTING OF AND QUOTATION FOR THE ENTIRE ENLARGED ISSUED AND PAID-UP SHARE
 CAPITAL OF BAUTO ON THE MAIN MARKET OF BURSA MALAYSIA SECURITIES BERHAD.

======================== 
CARING PHARMACY GROUP BERHAD IPO.

Opening of application  18/10/2013

Closing of application  30/10/2013

Balloting of applications   01/11/2013

Allotment of IPO shares to successful applicants  11/11/2013

Tentative listing date  13/11/2013

RM1.25.

Stock code stock name is Caring stock.


INITIAL PUBLIC OFFERING IN CONJUNCTION WITH OUR LISTING OF CARING PHARMACY GROUP BERHAD (“CARiNG”) ON THE MAIN MARKET OF BURSA MALAYSIA SECURITIES BERHAD OF A:

PUBLIC ISSUE OF 35,000,000 NEW ORDINARY SHARES OF RM1.00 EACH IN CARiNG (“SHARES”) AT AN ISSUE PRICE OF RM1.25 PER SHARE PAYABLE IN FULL UPON APPLICATION COMPRISING:

• 10,886,000 NEW SHARES MADE AVAILABLE FOR APPLICATION BY THE MALAYSIAN PUBLIC;
 • 5,716,000 NEW SHARES MADE AVAILABLE FOR APPLICATION BY THE ELIGIBLE DIRECTORS, ELIGIBLE EMPLOYEES AND SHAREHOLDERS OF SUBSIDIARIES
 OF THE CARiNG GROUP;
 • 4,200,000 NEW SHARES MADE AVAILABLE FOR BUMIPUTERA INSTITUTIONAL AND SELECTED INVESTORS APPROVED BY THE MINISTRY OF INTERNATIONAL TRADE AND INDUSTRY; AND
 • 14,198,000 NEW SHARES MADE AVAILABLE BY WAY OF PRIVATE PLACEMENT TO SELECTED INVESTORS





============= 


For more information on IPO, here.

http://politemarket.blogspot.com/search/label/IPO


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Thursday, October 17, 2013

How I made 300% in less than 4 years

Made 300% from Freight Management stock within 3 years and 11 months. For the numbers, please refer to my previous post on Freight Management 200%, add up the dividend and use the current price of RM1.61 and warrant RM0.58. It is the same way how I managed to achieve this, they are PEGGY Method, Dollar Cost Averaging, PE Ratio, Growth, Gearing, Dividend Yield, etc. This time I will not repeat in talking about them again, because I have mentioned them many times.

This time I want talk about volume.

When I started buying Freight Management stock, one of the blog readers told me that Freight Management lack volume, very illiquid. Ok, I agreed. But as a retail not buying by the millions, we can still invest. But if after buying, if we need the money or the company is not performing and we want to sell, we will have problem selling, because the share price may be pressed down.

Please be careful if we are investing in illiquid stocks. For me, I plan my cash flow, so probably will not need to sell suddenly and desperately. I bought it because it was good. And although Freight Management stock is still very illiquid, now I have no problem of selling. This is because after making 300% from Freight Management, even if I desperately sell down 10%, still make 290%.

If you have been reading my blog, you will know that I am a long term investor and most of the times, perform better than the market.


For more information on the stocks that I have made at least 100%, here.



 
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Huayang 400%. Freight 300%. Evergreen 200%. TSH 100%. Genting Singapore 200%. Adventa 100%. QL 100%. Bonia 100%. P&O 100%. Scientx 100%. Boilermech100%. Zhulian 100%.




 

Friday, October 11, 2013

Karex IPO


Karex Industries Sdn. Bhd was established in 1988 to manufacture high quality natural rubber latex condoms and other latex dipped products.

As Karex is manufacturing condom, you may be interested in the article Durex Special condom for pre mature ejaculation, click link here.

 

Opening of application  11/10/2013

Closing of application 23/10/2013

Balloting of applications 25/10/2013

Allotment of IPO shares to successful applicants  04/11/2013

Tentative listing date 06/11/2013


INITIAL PUBLIC OFFERING OF 67,500,000 ORDINARY SHARES OF RM0.25 EACH IN KAREX BERHAD (“KAREX”) (“SHARES”) COMPRISING A PUBLIC ISSUE OF 40,500,000 NEW SHARES (“ISSUE SHARES”) AND AN OFFER FOR SALE OF 27,000,000 EXISTING SHARES (“OFFER SHARES”) AT RM1.85 PER SHARE INVOLVING:

 

I. THE INSTITUTIONAL OFFERING OF 47,250,000 SHARES COMPRISING 27,000,000 OFFER SHARES AND 20,250,000 ISSUE SHARES TO INSTITUTIONAL AND SELECTED INVESTORS IN MALAYSIA, SINGAPORE AND HONG KONG; AND


II. THE RETAIL OFFERING OF 20,250,000 SHARES COMPRISING:

 - 13,500,000 ISSUE SHARES MADE AVAILABLE FOR APPLICATION BY THE MALAYSIAN PUBLIC; AND


– 6,750,000 ISSUE SHARES MADE AVAILABLE FOR APPLICATION BY ELIGIBLE DIRECTORS, EMPLOYEES, BUSINESS ASSOCIATES AND PERSONS WHO HAVE CONTRIBUTED TO THE SUCCESS OF KAREX AND ITS SUBSIDIARIES,
 

SUBJECT TO THE CLAWBACK AND REALLOCATION PROVISIONS

 

More information on Karex Berhad IPO, here.


  

More info on other IPO, here.


 

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UMW Oil & Gas IPO target price

Let us look at the UMW Oil & Gas Corporation Bhd IPO target price. Before that, please remember that big company normally attract high PE ratio. If you just plan to apply and then sell, as long as can make money, PE ratio and long term growth is not the main concern although both also will have impact on opening price. Main concern is, can make money or not. Is the IPO price fixed?


TA Securities initiate coverage on UMW Oil & Gas Corporation Bhd (UMW-OG) with a Buy recommendation and Target Price of RM3.36 based on 22x FY14 P/E. They believe that 22x FY14 PER is not excessive given that Malaysian-listed mid-large cap upstream O&G counters with market cap between USD2bn-3.5bn currently trade at an average of 21x CY14 P/E. This includes Bumi Armada (19x), MMHE (20x), Dialog Group (25x). Their Target Price translates into 19.8x FY15 P/E whereby FY15 would see the full-year contribution of UMW-OG’s entire fleet of 6 drilling rigs and 5 HWUs. They expect UMW Oil & Gas dividend yield zero for the next few years.
Kenanga give UMW-OG fair value at RM3.33 per share, based on CY14 21.0x PER. This is at a small discount to the PER of 22.0x which they ascribed to Sapurakencana (SKPETRO; OP; TP: RM4.72), in terms of relatively smaller size than the latter. Whilst this is at a premium to its global peers’ weighted average CY14 PER of 7.7x, they believe UMW-OG should be rated against domestic peers given that the major contributor to group earnings is mainly derived from Malaysia. They also expect UMW Oil & Gas dividend yield zero for the next few years.
More info on Westports IPO, here.


More info on IPO, here.

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More info on UMW Oil & Gas IPO, here.


Monday, October 7, 2013

UMW Oil and Gas IPO and Westports Oversubscribed table



UMW OIL & GAS CORPORATION BERHAD IPO and Westports IPO Balloting Result Table oversubscribed
 

INITIAL PUBLIC OFFERING (“IPO”) OF UP TO 843,180,000 ORDINARY SHARES OF RM0.50 EACH IN UMW OIL & GAS CORPORATION BERHAD (“UMW-OG”) (“IPO SHARES”) COMPRISING AN OFFER FOR SALE OF UP TO 231,380,000 EXISTING SHARES (“OFFER SHARES”) AND A PUBLIC ISSUE OF 611,800,000 NEW SHARES (“ISSUE SHARES”) IN CONJUNCTION WITH THE LISTING OF AND QUOTATION FOR THE ENTIRE 2,162,000,000 ORDINARY SHARES OF RM0.50 EACH IN UMW-OG (“SHARES”) ON THE MAIN MARKET OF BURSA MALAYSIA SECURITIES BERHAD, IN THE FOLLOWING MANNER:

 

(I) INSTITUTIONAL OFFERING OF UP TO 648,600,000 IPO SHARES TO MALAYSIAN AND FOREIGN INSTITUTIONAL AND SELECTED INVESTORS, INCLUDING BUMIPUTERA INVESTORS APPROVED BY THE MINISTRY OF INTERNATIONAL TRADE AND INDUSTRY AT THE INSTITUTIONAL PRICE TO BE DETERMINED

 BY WAY OF BOOKBUILDING (“INSTITUTIONAL PRICE”); AND

 

(II) RETAIL OFFERING OF 194,580,000 IPO SHARES TO THE ELIGIBLE DIRECTORS AND EMPLOYEES OF UMW-OG GROUP, THE ELIGIBLE DIRECTORS AND EMPLOYEES OF UMW HOLDINGS BERHAD (“UMWH”) AND ITS SUBSIDIARIES, THE ENTITLED SHAREHOLDERS OF UMWH AND THE MALAYSIAN PUBLIC, AT THE RETAIL PRICE OF RM2.80 PER SHARE (“RETAIL PRICE”), PAYABLE IN FULL UPON APPLICATION AND SUBJECT TO REFUND OF THE DIFFERENCE BETWEEN THE RETAIL PRICE AND THE FINAL RETAIL PRICE IN THE EVENT THAT THE FINAL RETAIL PRICE IS LESS THAN THE RETAIL PRICE,

 

SUBJECT TO THE CLAWBACK AND REALLOCATION PROVISIONS AND OVER-ALLOTMENT OPTION. THE FINAL RETAIL PRICE WILL EQUAL THE LOWER OF:

 (I) THE RETAIL PRICE OF RM2.80 PER SHARE; AND

 (II) THE INSTITUTIONAL PRICE,

 SUBJECT TO ROUNDING TO THE NEAREST SEN.

 

================ 

 

Westports IPO Balloting Result Table oversubscribed

MIH is pleased to announce that Westports' initial public offering ("IPO") to the Malaysian public ("Public Retail Offering"), comprising 68,200,000 Offer Shares has been oversubscribed and the balloting of successful applications was conducted this afternoon.

A total of 32,835 applications for 429,799,600 Offer Shares were received from the Malaysian public representing an oversubscription rate of 5.30 times.

 

If you look at the subscription rate, chances of striking the IPO is not very low. Saw from web site that if apply public 1,000 shares, the chances are 5.97%

 

1,000  5.97%

2,000  6.97%

10,000 9.96%

100,000  13.73%

1,000,000   66.67%

 

 

Bumiputra portion:

1,000  26.19%

2,000  27.12%

10,000 30.24%

100,000  76.11%

1,000,000   100%

 

 

More info on Westports IPO, here.


More info on IPO, here.


 

 

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Disclaimer Clause
The information contained in this blog is my personal diary and has been prepared solely for myself. Without any previous reading material or discussion, by just reading my blog contents, reader may misunderstand the contents.
All the contents I am talking to myself and most contents are hypothetical or imaginary.
This blog has been compiled in good faith, with no intention to cause hurt, loss, or any trouble. No representation is (either express or implied) as to the completeness or accuracy of the information it contains.
This blog also is not an advice, recommendation or an invitation to buy or sell or invest in anything, eg shares, futures, derivatives, gold, etc. Consult your investment adviser before making any decisions.
The copyright of the material contained in my blog remains solely with me. You shall not copy, reproduce and / or distribute this information without my permission.