0093 SOLUTN

最近，马来西亚的政治风险一波未平，一波又起。这使得股市一直被外资抛售了连续几天，同时股市连续泻了几天，从星期一的1767.38跌到现在的1735.93，足足跌了1.81%。所以上星期都没什么看股市，一直专注在寻找潜力股和做功课。

不多说了，先说主题。这次又来一间冷眼加码的公司了，而且这次的码也加得蛮大的哦，差0.24%就跃升为公司的主要股东了。另外公司的主要股东是Mr.Lim Yong Hew（这位是SOLUTN的创始人）和Mr.Lim Hai Guan（这位是执行董事），这两位是公司的两大股东而第三大股东就是冷眼了。。。这是冷眼目前这几月手上增持和减持的公司：

                                                               （图片摘自这里）

然后这是前几天开始做的功课：

• SOLUTION ENGINEERING HOLDINGS (0093, SOLUTN) belong to category of Ace Market.

• Growth rate on EPS from year 2013 to 2014 has a massive record of 364%.

• Revenue also has a high growth rate of 183% from year 2013 to 2014. This is due to the completion of project.

• Total asset and total liability has growth rate of 42% and 214% respectively from year 2013 to 2014.

• Cash has a CAGR of 26% from year 2010 to 2014. Healthy cash company.

• ROE for year 2014 has a favorable result.

• PE in year 2014 around the edge of 10, worth to invest in this stock.

• DY also around the fixed deposit rate of bank, which is 4.76% in year 2014.

• From those data above, year 2013 to 2014 is a biggest turning point for SOLUTN.

• Fong Siling, 冷眼 become the 3rd biggest shareholder in year 2015 and he holding near 5% or 9,660,000 of total share outstanding. I am first time c his largest holding of quantity in company.

• Fong Siling may trust the future view of SOLUTN due to the largest of shareholding.

• My valuation on SOLUTN is giving the price of 0.54, which having the potential upside of 74%.

• CY, Cash Yield in year 2014 is attractive.

• SOLUTN principally in the business of designing and development of equipment for biolubricant project and for engineering education and research and provision of training and curriculum content development.

• Approximately 20% of SOLUTN’s sales is exported and quoted in USD.

• Recent completed project in year 2014 under state water operator SAINS (Syarikat Air Negeri Sembilan Sdn Bhd (SAINS), has opened a door for SOLUTN to other state water operators.

• The Group operates predominantly in Malaysia.

• SOLUTN established credible reputation in both the domestic and international markets.

• SOLUTN also mentioned that they are confident for the result in biggest investment in the automotive lubricants business by move to bigger factory to tap into growing lubricants market.  

• Segmental report on category of sale and geographical location is not provided in annual report.

• Annual General Meeting (AGM) on date 16/6/2015. Proposed of share buyback and ESOS.

• SOLUTN mentioned that has potential contract on pipeline and prospect achieved better financial result in end of year 2015.

• Q1''2015 showed that revenue and net profit is increased of 121% and 182% for Q1''2015 and Q1''2014 respectively.

• This impressive result is due to the improvement in revenue and profit was attributable to higher sales, better profit margin, better project cost control and management and favorable forex.

最后功课完毕。如有不恰之处请见谅 ^_^

本文只供参考。共勉之。