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Kucingko gave major shareholders both Mr. Ooi Kok Hong 2,500,000 shares for RM1 and Mr. See Chin Joo 2,500,000 shares for RM1 just one month after listing. It's under LTIP scheme and Mr. Ooi Kok Hong is the Chairman of the LTIP committee which was tasked to decide who get the LTIP shares and for not price. It shall give a lot of thought on this kind of practice. Is it a conflict of interest? acceptable corporate practice?
lazy TheEdge IPO watch regarding Swift Energy. The FY24 data is already available but TheEdge only use FY21 to FY23. The significant of FY24 must mention is EPS has huge leap to 2.25 sen from FY23 1.19 sen, so what ever researches by TheEdge, or Public Investment, and or Ta Research have been underestimate Swift Energy's earning power. Fair value gave by Public Investment as 36 sen, Ta Research 32 sen, are under shot. Assume the company kept the momentum, FY25 EPS shall be 3.375 sen to 4.25 sen, average 3.81 sen, PE 20 times, target price will be 76 sen.
The 20% profit margin for supply electricity to Singapore is well too high a margin for utility players. So if Singapore will continue hand out cash like this is questionable.
The 100MW electricity supply contract with Singapore will expire soon. If not renewed, or the price reduced, then you shall find the share price before year 2022.
China seems lost and changed strategy for the property sector. But the structure problem not addressed. Dream of stimulating property sector will remain a dream.
