ES SUNLOGY BERHAD

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Open to apply: 27/01/2025 
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%

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

1. Provision of M&E engineering services: 88.4%
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

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%

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%

Major Sharesholders     
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 director remuneration: RM1.438 mil

key management remuneration: RM0.85 mil – RM1.050 mil
total (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.

TECHSTORE BERHAD

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Open to apply: 22/01/2025
Close to apply: 04/02/2025
Balloting: 06/02/2025
Listing date: 18/02/2025

Share Capital     
Market cap: RM100 mil
Total Shares:  500 mil shares
1st day listing tradable shares: 150.156 mil shares

Industry CARG    
Historical Market Size (Revenue) and Growth Forecast for the Enterprise IT Services Industry in Malaysia. i: 2021-2023: 4.45%
Ii: 2024e-2028e (base year 2023): 5.60%  
Industry competitors comparison (net profit%)
1. Techstore: 12.4%
2. EV-Dynamic Sdn Bhd: 55.7%
3. Datasonic Group Berhad: 25%
4. GoHub Capital Berhad: 16.1%
5. Infomina Berhad: 14.7%
6. Iris Corporation Berhad: 8.7%
7. Others: losses to 5.0%

Business (FPE 2024)
Provision of enterprise IT services, primarily involving the IT security and automation solutions to support to customers’ operations.
Revenue by business segment
1. Design and implementation services: 77.9%
2.Maintenance and support services: 22.1%
Revenue by country
1. Malaysia: 98.9%
2. Singapore: 1.1%
Revenue by customer type
1. Government: 26.6%
2. Government-linked companies: 42.9%
3. Private companies: 30.5%

Fundamental     
1.Market: Ace Market
2.Price: RM0.20
3.Forecast P/E: 13
4.ROE(Pro forma IV):  8.49%
5.ROE:  13.94% (FPE2024), 24.08%(FYE2023), 29.62%(FYE2022),  38.78%(FYE2021)
6.Net asset: RM0.11
7.Total debt to current asset: 0.78 (Debt: 65.375mil, Non-Current Asset: 39.146 mil, Current asset: 83.589mil)
8.Dividend policy:  Didn’t have formal dividend policy.
9. Shariah status: Yes

Past Financial Performance (Revenue, Earning Per shares, PAT%)  
2024 (FPE 31Jul,7mths): RM30.120 mil (Eps: 0.0057): PAT: 9.4%
2023 (FYE 31Dec): RM62.2027 mil (Eps: 0.0154), PAT: 12.40%
2022 (FYE 31Dec): RM42.239 mil (Eps: 0.0144), PAT: 17.10%
2021 (FYE 31Dec): RM29.382 mil (Eps: 0.0135), PAT: 23.0%

Order Book    
1. 2025: 53.6 mil
2. 2026: 30.8 mil
3. 2027: 9.8 mil
4. 2028: 9.0 mil
5. 2029: 1.5 mil 

Major customer (FPE2024)    
1. Setia Utama: 30.7%
2. Customer I: 26.6%
3. Customer J: 14.1%
4. Customer E:12.2%
5. Customer G: 6.8%
***total 90.4%

Major Sharesholders     
1. Tan Hock Lim: 59.0%  (Direct)
2. Mohd Fadzil bin Mohd Daud: 11.0% (direct)

Directors & Key Management Remuneration for FYE2024    
(from Revenue & other income 2023)
Total director remuneration: RM1.215 mil
key management remuneration: RM1.10 mil – RM1.35 mil
total (max): RM2.565mil or 17.03%

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 middle risk investment, and also come with middle 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.

RICHTECH DIGITAL BERHAD

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***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: 21 Jan 2025
Close to apply: 31 Jan 2025
Balloting: 04 Feb 2025
Listing date: 17 Feb 2025

Share Capital    
Market cap: RM50.61325 mil
Total Shares: 202.453 mil shares
1st day listing tradable shares:  94.05 mil shares

Industry CARG
1. Electronic reload and bill payment services industry size in Malaysia (2019-2023): 12.9%
2. Prepaid mobile network plan subscribers (Q42020- Q42024): 5.3%
3. Postpaid mobile network plan subscribers (Q42020- Q42024):: 2.9%  
Industry competitors comparison (net profit%)
1. Richtech: 68.90%
2. OTA MY Sdn Bhd: 8.8%
3. e-Pay (M) Sdn Bhd: 3.5%
4. HPCS Sdn Bhd: 2.7%
5. Others: losses to 0.6%

Business (FPE 2024)
Distribution of electronic reloads as well as the provision of bill payment services via our SRS platform. 
Services offered through SRS platform (Electronic reload services)
1. Mobile airtime reloads
2. Mobile data reloads
3. Prepaid digital TV reloads
4. Games credits
5. Application credit and eWallet credit

Revenue by segment
1. SRS corporate users (reload retailers): 76.77%
2. SRS corporate users (reload retailers): 22.02%
3. SRS end-users: 1.21%

Fundamental   
1.Market: Ace Market
2.Price: RM0.25
3.Forecast P/E: 9.43
4.ROE(Pro forma): 21%
5.ROE: 34.07%(FPE2024), 39.57%(FYE2023),  44%(FYE2022), 46.42%(FYE2021)
6.Net asset: 0.14
7.Total debt to current asset: 0.137  (Debt: 4.297mil, Non-Current Asset: 0.349mil, Current asset: 31.399mil)
8.Dividend policy: Didn’t have formal dividend policy.
9. Shariah status:  Yes 

Past Financial Performance (Revenue, Earning Per shares, PAT%)   
2024 (FPE 31 Jul, 7mths): RM5.085 mil (Eps: 0.0166), PAT: 66.25%
2023 (FYE 31Dec): RM7.797 mil (Eps: 0.0265), PAT: 68.92%
2022 (FYE 31Dec): RM6.187 mil (Eps: 0.0209), PAT: 68.32%
2021 (FYE 31Dec): RM4.781 mil (Eps: 0.0151), PAT: 63.88%

Major customer (FPE2024)  
1. Iqka Collection Services: 28.34%
2. Real One Group: 14.31%
3. Celcopon Sdn Bhd: 5.85%
4. Neraca Gemilang Marketing: 5.14%
5. Dotlines Sdn Bhd: 4.51%
***total 58.15%

Major Sharesholders     
1. Lee Teik Keong: 50.27% (direct), 3.27% (indirect)
2. Agnes Wong Eei Nien: 3.27% (direct), 50.27% (indirect)
3. Yau Ming Teck: 4.61% (direct)

Directors & Key Management Remuneration for FYE2024   
(from Revenue & other income 2023)
Total director remuneration: RM0.4 mil
key management remuneration: RM0.2 mil – RM0.35 mil
total (max): RM0.75 mil or 9.8%

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.

COLFORM GROUP BERHAD

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***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: 15/01/2025
Close to apply: 23/01/2025
Balloting: 27/01/2025
Listing date: 10/02/2025

Share Capital   
Market cap: RM216 mil
Total Shares:  600 mil shares
1st day listing tradable shares: 168.424 mil shares

Industry CARG    
1. Apparent consumption of total steel products (Sabah and Sarawak), 2019 – 2023: -6.09%
2. Apparent consumption of hot-dipped galvanised sheets, Zn-Al sheets and strips, and colour coated sheets and strips (Sabah and Sarawak), 2019 – 2023: -2.28%
3. Downstream steel industry size (Sabah and Sarawak), 2019 – 2023: 9.18%
4. Value of construction work done (Sabah and Sarawak), 2019 – 2023: 1.31%
Industry competitors comparison (net profit%)
1. Colform Group: 13.76%
2. Pui Nam Cheong Industries Sendirian Berhad: 22.12%
3. United G.I. Products Sdn Bhd: 10.14%
4. Cooldec Industries Sdn Bhd: 8.96%
5. JCH Steel (M) Sdn Bhd: 7.32%
6. IMetal (M) Sdn Bhd: 6.75%
7. Others: losses to 5.24%

Business (FPE 2024)  
Manufacturing, processing and trading of steel products.
Business Segment by revenue
1. Manufacturing of downstream steel products and processing of steel coils: 55.93%
2. Trading of other downstream steel products and building materials: 30.67%
3. Provision of supply and installation services and project management services for construction projects: 13.40%

Fundamental    
1.Market: Ace Market
2.Price: RM0.36
3.Forecast P/E: 17.48
4.ROE(Pro forma III):  10%
5.ROE: 13.92% (FPE2024), 16.28%(FYE2023),  8.36%(FYE2022), 20.9%(FYE2021)
6.Net asset: 0.21
7.Total debt to current asset: 0.345  (Debt: 26.873mil, Non-Current Asset: 27.203mil, Current asset: 77.884mil)
8.Dividend policy:  Didn’t have formal dividend policy.
9. Shariah status: Yes

Past Financial Performance (Revenue, Earning Per shares, PAT%)   
2024 (FPE 31Aug, 8 mths): RM68.987 mil (Eps: 0.0201), PAT: 18.34%
2023 (FYE 31Dec): RM92.533 mil (Eps: 0.0206), PAT: 13.76%
2022 (FYE 31Dec): RM62.641 mil (Eps: 0.0096), PAT: 12.10%
2021 (FYE 31Dec): RM85.456 mil (Eps: 0.0231), PAT: 20.51%

Order Book  
1. FYE 2024: RM0.45 mil 
2. FYE 2025: RM 34,146 mil

Major customer (FPE 2024)   
1. SBH Kibing Group of Companies: 7.38%
2. Vestland Resources Sdn Bhd: 7.11%
3. LD Metal Roofing Sdn Bhd: 5.46%
4. CY Utama Sdn Bhd: 5.24%
5. Kang Ming Group of Companies: 3.99%
***total 29.18%

Major Sharesholders    
1. Kang Ming Trading: 70.86% (direct)
2. Kang Ket Hung: 0.33% (direct),  70.86% (indirect)
3. Kang Phui Yie: 0.41% (direct), 70.86% (indirect)

Directors & Key Management Remuneration for FYE2024   
(from Revenue & other income 2023)
Total director remuneration: RM1.733 mil
key management remuneration: RM0.20 mil – RM0.35 mil

total (max): RM2.083 mil or 9.9%

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 with mid- low possible growth industry company. 

*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.

ORIENTAL KOPI HOLDINGS BERHAD

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Open to apply: 06 Jan 2025
Close to apply: 10 Jan 2025
Balloting: 14 Jan 2025
Listing date: 23 Jan 2025

Share Capital      
Market cap: RM880 mil
Total Shares:  2bil shares

Industry CARG (2019-2023)     
Malaysia Real GDP of F&B services, CAGR: 2.5%
Malaysia GDP of F&B services, CARG: 7.9%
Estimated sales value of F&B services in Singapore, CAGR: 8.9% 
Industry competitors comparison (net profit%)
1. Oriental Kopi Group: 15.16%
2. Tea Garden Gempak S/B: 14.0%
3. Berjaya Starbucks Coffee Co: 11.8%
4. Oldtown S/B: 5.6%
5. Good Taste Malaysia S/B: 13.1%
6. Hometown F&B Holdings S/B: 9.6%
7. Tea Garden Gempak S/B: 14.0%
8. Others: losses to 5.5%

Business (FYE 2024)      
Cafe chain operations as well as the distribution and retail of our brands of consumer-branded packaged foods. 
Revenue from Geo
1. Klang: 65.25%
2. Johor: 26.54%
3. Others: 8.21%
Cafe outlet
1. Klang Valley, Penang and Johor : 20
2. Specialty retail store in Johor: 1

Fundamental       
1.Market: Ace Market
2.Price: RM0.44
3.Forecast P/E: 20.37
4.ROE(Pro forma): 18.76%
5.ROE: 80.59% (FYE2024), 58.9%(FYE2023), 54%(FYE2022),  losses (FYE2021), 
6.Net asset: 0.1149
7.Total debt to current asset: 0.499 (Debt: 127.955mil, Non-Current Asset: 101.628mil, Current asset: 256.212mil)
8.Dividend policy:  30% PAT dividend policy.
9. Shariah status: nil

Past Financial Performance (Revenue, Earning Per shares, PAT%)       
2024 (FYE 30 Sep): RM277.280 mil (Eps: 0.0216), PAT: 15.56%
2023 (FYE 30 Sep): RM133.013 mil (Eps: 0.0100), PAT: 15.06%
2022 (FYE 30 Sep): RM48.644 mil (Eps: 0.0048), PAT: 19.65%
2021 (FYE 30 Sep): RM5.018 mil (Eps: -0.0002), PAT: -9.76%

Major customer    
1. Restaurant business, didn’t have single large customer.

 
Major Sharesholders    
1. Dato’ Chan Jian Chern: 73.35% (indirect) 
2. Chan Yen Min: 73.35% (indirect)
3. Koay Song Leng: 73.35% (indirect)
4. United Gomax: 73.35% (direct)

Directors & Key Management Remuneration for FYE2025   
(from Revenue & other income 2024)
Total director remuneration: RM2.093 mil
key management remuneration: RM0.85 mil – RM1.1 mil
total (max): RM3.193 mil or 3.86%

Use of fund   

Conclusions (Blogger is not wrote any recommendation & suggestion. All is personal opinion and reader should take their own risk in investment decision)
Overall is middle risk investment. Have to focus more on the abilities of duplicate the existing 18 café performance. 

*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.

Quarter 4: Invest Group Performance Update

T&C to join Invest Group

1. Understand that all material in the Whatsapp Invest Group 2 or 3 is only opinion sharing.  
2. Members in group have to take their own risk. 
3. Memberships fee is not refundable. 
4. Admin is not take any responsible on member investment decision. 
5. Member have to do their own study & own analysis.
6. Memberships fees RM369.00 per year. 

Some detail on the Invest group
1. stock pick based on fundamental (sometime will use technical stock pick)
2. one year might less than 10 pick. 
4. is not a training class.

5. some counter that need to hold quite longer term.
6. No any other phone number is authorize, other than this admin number 013-2820766 

And REMEMBER, we never personal message / never advertise /  never call any member to offer any type of trading signal & no training class.  ALL member joint us is they have to personally come to contract us. If you received any call/ message is all SCAM!!!