MyEG / Wong Thean Soon

Re: MyEG / Wong Thean Soon

Postby winston » Wed Jan 09, 2019 9:54 am

not vested

MY E.G. Services

Overseas operations could surprise on the upside

MyEG’s Bangladesh associate is expected to implement the VAT monitoring system in the country in 2019F, which was a positive surprise to us.

Its Philippine associate is expected to launch online car road tax and insurance renewal services from Feb 19 onwards, another positive surprise.

Raise FY20-21F EPS by 4.4-7.0% and TP from RM1.86 to RM1.96. The stock remains an Add and is attractive at 10.4x FY20F P/E.




Source: CIMB

https://brokingrfs.cimb.com/w1toBkqi5pi ... gFFTg2.pdf
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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winston
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Re: MyEG / Wong Thean Soon

Postby winston » Thu Jan 17, 2019 1:52 pm

not vested

Diversify To Move Forward

The finalisation of foreign worker management process would appear to be a potential near-term catalyst for MYEG, as it removes the current overhang and uncertainties on the stock.

We stay confident that MYEG would remain relevant given its good track record and indispensable back-end system.

Furthermore, MYEG’s overseas operations have been steadily adding new services to gain market
share.

Maintain BUY. Target price: RM1.62.

Source: UOBKH

https://research.uobkayhian.com/content ... 63e335be7d
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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winston
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Re: MyEG / Wong Thean Soon

Postby winston » Wed Mar 06, 2019 10:14 am

not vested

MyCC finally accepts MyEG’s changes

MyEG announced that the MyCC has accepted the changes made by MyEG to the group’s online foreign worker renewal services.

This is positive news for MyEG as it should bring to a close MyCC’s 4-year challenge against the group for alleged monopoly abuse.

Remains an Add; registration of new foreign workers is expected to be the domestic operations’ new revenue growth driver over the next few years.

Remains an Add

We maintain our EPS forecasts and target price, based on an unchanged 21x 2020F P/E, a 40% premium over the technology sector’s 2020F 15x target P/E; the premium is to reflect the strong earnings growth potential from overseas operations over the next few years.

The stock remains an Add. Re-rating catalysts are stronger-thanexpected overseas profits while a downside risk is failure to register NFWs in Malaysia this year.


Source: CIMB

https://brokingrfs.cimb.com/-U6rtFLm5zc ... MDN0w2.pdf
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 101824
Joined: Wed May 07, 2008 9:28 am

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