KUMPULAN KITACON BERHAD

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Deschis pentru aplicare: 28
Aproape de aplicare: 09
Votare: 11
Data afisarii: 17/01/2023

Capitalul social
Capitalizare de piață: 340 mil RM
Total acțiuni: 500mil acțiuni
Industry CARG (2017-2021)

Value of building construction work completed by sectors
1. Malaysia (residential) CAGR: -9.1%
2. Malaysia (non-residential) CAGR: -6.8%
3. Selangor (residential) CAGR: -7.5%
4. Selangor (non-residential) CAGR: -7.9%

Comparația concurenților din industrie (profit net%)
Kitacon: 9.2% (PE8.1)
Kerjaya: 9.9% (PE13.04)
MGB Bhd: 4.5% (PE14.31)
Nestcon: 3.4% (PE30.56)
Inta Bina: 3.5% (PE11.81)
Vizione: -28.9% (PE-1.37)
TCS: 1.2% (PE-10.45)
Gagasan: 3.7% (PE-29.04)
Haily: 5.0% (PE8.74)

Provision of construction services
Rezidential: 84%
Non-residentail: 16%
Principal Market
Selangor: 96.8%
Negeri Sembilan: 1.6%
Johor: 1.6%

Fundamental
1.Piata: piata principala
2.Pret: 0.68 RON
3.P/E: 8.1 la 0.084 RM
4.ROE(Pro Forma III): 21.09%
5.ROE: 22.69%(FYE2021), 14.96%(FYE2020), 22.42%(FYE2019)
6.Activ net: 0.496 RM
7. Datoria totală față de activul curent după IPO: 0.48 (Datoria: 190.583 milioane, Activ necurrent: 42.890 milioane, Activ curent: 395.501 milioane)
8.Dividend policy: Propose 25% PAT dividend policy.
9. Shariah starus: Da

Performanța financiară trecută (venit, câștig pe acțiune, PAT%)
2022 (FPE 30Jun): RM234.733 mil (Eps: 0.052),PAT: 11.1%
2021 (FYE 31 dec): 455.502 mil RM (Eps: 0.084), PAT: 8.40%
2020 (FYE 31 dec): 489.645 mil RM (Eps: 0.078), PAT: 7.80%
2019 (FYE 31 dec): 581.523 mil RM (Eps: 0.110), PAT: 9.40%

Carnet de comenzi
FYE2022: 104.961 mil RM
FYE2023: 617.578 mil RM
FYE2024: 131.070 mil RM

Fluxul de numerar operațional vs PBT
2022: 87.83%
2021: 154.0%
2020: 84.9%
2019: 44.6%

Client major (2022)
1. Sime Darby: 25.3%
2. Tropicana Aman Sdn Bhd: 14.8%
3. QLB: 11.4%
4. SP Setia Group: 10.2%
5. Symphony Hills Sdb bhd: 8.8%
***total 70.5%

Acţionari majori
Tan Ah Kee: 8.4% (direct)
Teow Choo Hing: 28.9% (direct)
Suan Neo Capital: 35% (direct)

Remunerarea directorilor și a conducerii cheie pentru exercițiul financiar 2023 (din venituri și alte venituri 2022)
Remunerația totală a directorului: 5.095 mil. RM
key management remuneration: RM2.10 mil - RM2.50 mil
total (max): 7.595 mil RM sau 9.39%

Utilizarea fondurilor
1. Purchase of Aluminium formwork systems: 34.8%
2. Purchase of Scaffoldings and cabins: 11.6%
3. Purchase of land and construction of a storage and refurbishment facility: 38.7%
4. Capital de rulment: 6.3%
5. Cheltuieli de listare: 8.6%

Concluzii (Blogger is not wrote any recommendation & suggestion. All is personal opinion
and reader should take their own risk in investment decision)
Overall is a high risk IPO due to overall weak performance & challenge of the industry
environment cause the difficulty for the company to growth. The order 2022 like unable to break revenue in 2021, but order book in 2023 likely will have better result compare 2022.