Fitters Diversified

Fitters Diversified

Postby winston » Sat Jan 04, 2014 7:04 pm

not vested

WHILE some investors find the company too diversified for their liking, there are a number of catalysts for Fitters that makes the company one of the smaller ones to watch in 2014.

First could be a listing of its wholly-owned renewable energy unit Future NRG Sdn Bhd, say insiders. Fitters core business is in fire-fighting.

The catalyst in this segment is a potential merger to form the region’s largest fire-fighting business.

However, this was supposed to have taken place earlier with Singapore’s Deluge Fire Protection Pte Ltd but some delays have occurred. Still, a third and increasingly significant division is property, that produced some attractive profits in the company’s last reported quarter.

In announcing its good Q3 FY2013 earnings last November, Fitters also said that it had entered into a Memorandum of Understanding with Molecaor Technologia S.L. of Spain to penetrate the market of PVC pressure pipes in Malaysia and other South-East Asian markets.

Insiders say that this could be a lucrative market for Fitters if executed well, considering that the Spanish company holds patents to state-of-the-art piping that hits the right price points and is the most suitable replacement for aging water pipes around the region. Banking sources said that Fitters was looking to float Future NRG in Malaysia or Singapore, which would raise funds for future expansion.

Renewable energy companies have been enjoying keen investor interest in markets in the United States and the UK.

Future NRG is involved in renewable, alternative and waste-to-energy projects such palm oil green mills, biomass plants and biogas capture plants.

Catalysts

- Unlocking of value from its diversified base via M&As.

- Dividends could be in the offing.

- Possible overseas listing of renewable energy unit and steady earnings growth.

Risks

- Execution risks and delays in unlocking value and property market downgrade.


Source: The Star
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Re: Fitters Diversified

Postby winston » Mon Nov 03, 2014 7:57 pm

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Fire Protection, Properties, Renewable Energy, PVC Pipes

Zeta Park, Setapak; 50 acres in Rawang

Renewable Energy from Waste; To be listed in Catalist, Spore

Investing MYR14m in Bio Mass projects

PVC Pipes; MYR90m plant; Operations next year

PE 9
Growth 20%
PEG 0.4
Yield 3%
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Re: Fitters Diversified

Postby winston » Tue Apr 09, 2019 9:19 am

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Trading Buy: FITTERS - 9318
(Last price: RM0.475, Potential upside +21.1%)


Company Profile

FITTERS (listed in Oct 1994) is dubbed as a leading “One-stop” fire protection specialist in Malaysia. To strengthen its business, the Group also ventured into property development, renewable energy and water pipes businesses.


Trading Catalyst

FITTERS is expected to perform better in 2019, as its pipes division is on track to receive larger orders, giving rise to economies of scale as Malaysia’s water and waste water infrastructure undergo upgrades, coupled with the central purchase contract from PAAB and commitment of RM50m sales from Unitrade to drive pipes segment’s performance.

The property development & construction division will remain a major contributor due to the construction progress of RM82m Azalea@TamanPutra II.

With the double bottom formation, we expect FITTERS to advance further towards RM0.50-0.575 after a brief pullback


Technical View
Resistance: RM0.500 / RM0.520 / RM0.575
Support: RM0.460 / RM0.440
Cut loss: RM0.430

Key Financial Stats
Trading at 0.59x P/B, 13% lower than 10Y average of 0.68x.

Source: HLIB
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: Fitters Diversified

Postby winston » Tue Mar 14, 2023 8:22 am

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Fitters Diversified justifies acquisition of 12.14 mil Computer Forms shares, optimistic about EV growth

by Sufi Muhamad

Datuk Seri Pang Chow Huat, Fitters clarified that he is the largest shareholder of Fitters with 48.05 million shares or a 7.9% stake.

Pang also holds 145.17 million shares or 54.25% in CFM.


Source: theedgemarkets.com
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