Dolphin International Berhad

IPO (Rating: 3.5 star out of 5 star)
Price: RM0.68

Overview
Involve in produces & services for palm oil machinery

Date
Open to apply: 20/05/15
Close to apply: 28/05/15
Listing: 09/06/15

Fundamental
Market: Main Market
P/E: 12.45 (EPS RM0.0546)
Net asset: RM0.36
Debt ratio: 0.71
Dividend policy: have no formal dividend policy

Director
Low Teck Yin 28.52%  (co-Founder)
Hoh Yeong Cherng 28.52% (co-Founder)

Revenue
Local: 76.65%
Indonesia:22%
Others: 1.35%

Use Of IPO fund (RM31.28mil)
Renovation & extension of factory: 35.16%
Working capital: 19.44%
Set-up R&D facility: 12.79%
Pay Debt: 19.18%
Listing Expenses: 13.43%

Opinion
Is a above average IPO. Out of 5 star, I wish to rate it 3.5 star on this IPO
The business is having a tanggible business & business start from 1992 (23 years in the industry)
The fundamental is good, although the revenue does not diversify enough & most revenue come from M'sia.
The company still having its co-founder which is good.
Weakness on IPO is 12.79% use to pay debt.


All th info is for sharing purpose & based on personal opition, does not represented any advisory services.