Copyright@http://lchipo.blogspot.com/
Follow us on facebook: https://www.facebook.com/LCH-Trading-Signal-103388431222067/
Follow us on facebook: https://www.facebook.com/LCH-Trading-Signal-103388431222067/
***Disclaimer***Blogger is not wrote any recommendation & suggestion. All is personal opinion and reader should take their own risk in investment decision.
Open to apply: 27/01/2025
Close to apply: 05/02/2025
Balloting: 10/02/2025
Listing date: 20/02/2025
Close to apply: 05/02/2025
Balloting: 10/02/2025
Listing date: 20/02/2025
Share Capital
Market cap: RM210 mil
Total Shares: 700 mil shares
1st day listing tradable shares: 210 mil shares
Industry CARG
Mechanical and electrical engineering( M&E) industry in Malaysia (2019-2023): 17%
Residential, commercial and industrial property transactions in Malaysia (2019-2023): 8.9%
Industry competitors comparison (net profit%)
1. ES Sunlogy: 6.3%
2. CBH Engineering Sdn Bhd: 20.3%
3. Kinergy Advancement Berhad: 13.8%
4. LFE Corporation Berhad: 13.3%
5. West River Engineering Sdn Bhd: 10.9%
6. Others: Losses to 5.4%
Mechanical and electrical engineering( M&E) industry in Malaysia (2019-2023): 17%
Residential, commercial and industrial property transactions in Malaysia (2019-2023): 8.9%
Industry competitors comparison (net profit%)
1. ES Sunlogy: 6.3%
2. CBH Engineering Sdn Bhd: 20.3%
3. Kinergy Advancement Berhad: 13.8%
4. LFE Corporation Berhad: 13.3%
5. West River Engineering Sdn Bhd: 10.9%
6. Others: Losses to 5.4%
Business (FYE 2024)
Provides M&E engineering services for various types of properties such as industrial, commercial and residential as well as solar facilities.
Revenue by Segment
Provides M&E engineering services for various types of properties such as industrial, commercial and residential as well as solar facilities.
Revenue by Segment
1. Provision of M&E engineering services: 88.4%
2. Trading: 7.1%
3. Sales of renewable energy: 4.5%
2. Trading: 7.1%
3. Sales of renewable energy: 4.5%
Fundamental
1.Market: Ace Market
2.Price: RM0.30
3.Forecast P/E: 15.54
4.ROE(Pro forma): 14.26%
5.ROE: 23.75%(FYE2024), 27.09%(FYE2023), 20.49%(FYE2022), 4.24%(FYE2021)
6.Net asset: 0.14
7.Total debt to current asset: 1.22 (Debt: 135.882mil, Non-Current Asset: 119.672mil, Current asset: 111.295mil)
8.Dividend policy: Didn’t have formal dividend policy.
9. Shariah status: Yes
1.Market: Ace Market
2.Price: RM0.30
3.Forecast P/E: 15.54
4.ROE(Pro forma): 14.26%
5.ROE: 23.75%(FYE2024), 27.09%(FYE2023), 20.49%(FYE2022), 4.24%(FYE2021)
6.Net asset: 0.14
7.Total debt to current asset: 1.22 (Debt: 135.882mil, Non-Current Asset: 119.672mil, Current asset: 111.295mil)
8.Dividend policy: Didn’t have formal dividend policy.
9. Shariah status: Yes
Past Financial Performance (Revenue, Earning Per shares, PAT%)
2024 (FYE 31Jul): RM191.091 mil (Eps: 0.0193): PAT: 7.1%
2023 (FYE 31Jul): RM136.727 mil (Eps: 0.0169), PAT: 8.6%
2022 (FYE 31Jul): RM50.822 mil (Eps: 0.0033), PAT: 4.6%
2021 (FYE 31Jul): RM54.887 mil (Eps: 0.0005), PAT: 0.7%
2024 (FYE 31Jul): RM191.091 mil (Eps: 0.0193): PAT: 7.1%
2023 (FYE 31Jul): RM136.727 mil (Eps: 0.0169), PAT: 8.6%
2022 (FYE 31Jul): RM50.822 mil (Eps: 0.0033), PAT: 4.6%
2021 (FYE 31Jul): RM54.887 mil (Eps: 0.0005), PAT: 0.7%
Order Book (LPD 24 Dec 2024)
1. Industrial : 100.533 mil
2. Commercial & Residential: 168.585 mil
Major customer (FYE2024)
1. NLE Electrical Engineering Sdn Bhd: 20.8%
2. Pesona Metro Sdn Bhd: 7.5%
3. Atlantic Blue: 6.7%
4. Vestland Resources Sdn Bhd: 5.5%
5. Marvellous Garden Sdn Bhd: 5.1%
***total 45.6%
1. Industrial : 100.533 mil
2. Commercial & Residential: 168.585 mil
Major customer (FYE2024)
1. NLE Electrical Engineering Sdn Bhd: 20.8%
2. Pesona Metro Sdn Bhd: 7.5%
3. Atlantic Blue: 6.7%
4. Vestland Resources Sdn Bhd: 5.5%
5. Marvellous Garden Sdn Bhd: 5.1%
***total 45.6%
Major Sharesholders
1. Khor Chuan Meng: 21% (direct)
2. Chu Kerd Yee: 21% (direct)
3. Datuk Keh Chuan Seng: 28% (direct)
1. Khor Chuan Meng: 21% (direct)
2. Chu Kerd Yee: 21% (direct)
3. Datuk Keh Chuan Seng: 28% (direct)
Directors & Key Management Remuneration for FYE2024
(from Revenue & other income 2023)
total (max): RM2.488 mil or 8.04%
(from Revenue & other income 2023)
Total director remuneration: RM1.438 mil
key management remuneration: RM0.85 mil – RM1.050 miltotal (max): RM2.488 mil or 8.04%
Use of funds
Conclusions (Blogger is not wrote any recommendation & suggestion. All is personal opinion and reader should take their own risk in investment decision)
Overall is high risk investment, and also come with high grow return opportunities.
*Valuation is only personal opinion & view. Perception & forecast will change if any new quarter result release. Reader take their own risk & should do own homework to follow up every quarter result to adjust forecast of fundamental value of the company.