7160 PENTA

这星期看起来有点橱窗粉饰的效应，因为大马股市从星期一开市的1,634.34点冲到今天的1,693.14点。另外在今早十点多左右冲破了1,700点，过了不久就经不起前方的挑战就一直跌到今天闭市的1,693.14点了。明天就是31号了，也就是2015年的最一天，本人在这里衷心地祝大家新年快乐，身体健康，万事如意，忘掉今年不开心及不如意的事情，珍惜眼前人，明天及明年会更好！！最后当然少不了天天赚大钱！！哦！对了，忘了介绍今天的功课，那就是 PENTA：

Company Overview

·         Business:

1.    Innovative services in technological solutions, designing and manufacturing of precision machinery components, as well as design.

2.    Manufacturing of automated and semi-automated machinery and equipment

3.    Assembly and installation of computerized automation systems and equipment.

·         Main business can categorized as automated equipment (60%) and automated manufacturing solution (40%).

·         Company website: http://www.pentamaster.com.my/

Additional Information

·         Strengthening of US dollar will bring benefit to PENTA. Here prove from AR2014:"Pentamaster being a manufacturer in an export driven business, the depreciation of the Ringgit to certain extent benefited us."

·         New factory building is start being build up to increase the assembly and testing activities. Leasehold of land is cost RM 5,015,790 and PENTA paid 20% as initial payment.

·         In Q3''2015, PENTA disposed two subsidiaries, that are Pentamaster Engineering (M) Sdn Bhd and Pentamaster Solutions Sdn Bhd.

·         This two non-current asset are the heart of manufacturing in PENTA, so the business focused currently is designing.

·         PENTA also acquired Origo Ventures (M) Sdn Bhd in Q3''2015. Main business of Origo is Smart Home and Building Automation Solution for property and construction industry.

·         Target of RHB-OSK investment firm is RM 0.90.

·         Executive Director, Mr. Tan Boon Teik is sold nearly 2% of total share outstanding and his latest holding share % approximately 6.22%.

·         CEO, Mr Chuah Chong Ewe was just appointed as CEO in February 2015 and his buying price of PENTA is RM 0.750 with 3 % of share outstanding.

·         From table, we can see the trend in year 2014 is uptrend and then current trend of EPS in year 2015 same uptrend too.

·         Each of the quarter made up to 100% growth rate improvement on EPS by comparing same quarter in both years.

·         *EPS mainly contributed by "other income" which weighted 2.17 EPS. If excluded this EPS, PENTA may made 1.93 EPS in Q3, there increased 28% if compared with Q3''2014.

Personal Comment

·         Above information show PENTA was disposed its manufacturing asset which accounts 40% of revenue and this must covered by new business entered in property and construction industry.

·         New business's performance in next quarter result is important for determine the effectiveness and efficiencies of new entered business activity.

·         To understand deeply on the new business acquired by PENTA, may Google or YouTube search the word “Internet of Things". That is the main services provided by Origo.

·         I think the services provided by PENTA may target on the customer who prefer high quality of security and facilities of HOME. So the customer may categorize as middle income or upper income group.

·         PENTA is zero dividend payout company.

·         Year 2013 may turning year to PENTA, because it is turn the net loss to net positive and PENTA's effort on clearing borrowing of company in this year can clearly be seen.

·         PENTA also start to accumulate its holding cash since year 2013.

·         ROE is increasing since year 2013 too and step to latest trailing three quarter result with 14.47%.

·         Current PE and ROE is attractive with result 8 and 17.52% respectively.

·         Earning valuation model and DCF model are giving intrinsic value of RM 0.709 and RM 0.98 respectively.

本文只供参考。共勉之。