Our website is made possible by displaying non-intrusive online advertisements to our visitors.
Please consider supporting us by disabling or pausing your ad blocker.
Review on REXIT
- Three Products - : e-Cover, e-PPA, InfoGuadian
- 5 years CAGR of revenue 6.27 %
- 5 years CAGR of nett profit 6.77 %
- Revenue mainly from Malaysia (81.20 %) and Hong Kong (16.43 %)
- Revenue not recognised immediately. Almost all revenue recognise over time.
- 3 majors customer contribute 48.91 % of Revenue and 4 majors customer contribute 76 % of trade receivable
- 50.80 % of trade receivable past due
- 2020 invest in other nvestment RM 17,932,000
- Share repurchase every year, 15,071,500 or 7.96 % of treasury shares
- Dividend Yeild higher than 10 years Malaysia Government Bond
My point of view, MYEG is providing a platform for individual who want to renew their own road tax and renew car insurance without going through insurance agent. While E cover system of REXIT target insurance companies and agents. Both company is in different market.
Unless Malaysia would change their habit to renew their own car insurance and road tax without insurance agent helping and reminding them it would not affect much on REXIT business.
Invest with cautions. Personally think this stock not for long term investor even REXIT good dividend yield and growing revenue. Software company don't recognise their revenue at the point of time unlike other trading business. Revenue recorded in the Income Statement some are future revenue. Asides that, large amount of REXIT trade receivable had past due.
2020 management had invest in others investment with is more longer term compare to cash investment. The fair value increase in other investment would recorded in other comprehensive income after the nett profit unlike previously which recorded in the nett profit.
