Its Prospects … dated Feb 2011
Masterskill turned in a strong set of results for the financial year ended Dec 31, 2010 with full-year net profit rise RM4.9% to RM102.14 million while revenue climbed 15.5% to RM315.74 million.
With earnings per share of 33 sen, the stock is trading at a historical price-to-earnings ratio (PER) of just 5.6 times.
Masterskill also has a strong balance sheet, with RM99.41 million in net cash and offers shareholders a decent dividend yield. It paid an interim dividend of seven sen on Oct 13, 2010, and is expected to announce a final dividend for the year.
Since November 2011, the company’s share price, however, has come under selling pressure on concerns over PTPTN funding. With some 95% of Masterskill’s students reliant on PTPTN loans, those concerns were justified. However, some quarters argue that the concerns may be over-blown as all private colleges would have students who are reliant on PTPTN funding — although to lesser degree.
Moreover, PTPTN, as a national education funding scheme, is unlikely to be discontinued given its important social implications.
Of late (Feb 2011), Masterskill’s share price slumped further as foreign selling exacerbated, notably by two US-based funds, Fidelity Management and Research (FMR) LLC and SmallCap World Fund. After months of selling, both FMR and SmallCap World Fund ceased to be substantial shareholders of Masterskill on Feb 10 and Feb 16 2011 respectively.
Masterskill, on the other hand, is in the education industry which is relatively resilient, defensive and cash generating.
Showing posts with label MasterSkill. Show all posts
Showing posts with label MasterSkill. Show all posts
Tuesday, September 20, 2011
Sunday, August 14, 2011
JIT News - MRCB/Ekov,MEGB,Transmile,SP Setia,Ramunia,Ranhill .... 24/2/2011
MRCB/Ekovest: MRCB together with Ekovest are likely to be awarded a portion of the Klang Valley beautification project from the government. It was previously reported that the valued is at a potential rm8 billion. A rm5 billion rehabilitation and development plan for the Klang Valley river was announced by the government as part of the ETP.
MasterSkill: For the year ended Dec 31, 2010, its net profit rose to rn102.4 million or 33 sen per share with a historical PER of 5.6 times. Revenue increased to rm315 million. As at Dec 31, 2010 the company had net cash of rm99.41 million and net assets per share of rm1.27.
MasterSkill: 4.90 (HDBS), 2.47 ( Alliance ), 3.59 (OSK), 4.48 (CIMB)
Transmile faces suspension with effect from March 3 and delisting on March 7 2011 for failing to submit a regularisation plan to the regulators for approval by Feb 22 2011. It failed to submit the revamp plan to Securities Commission or Bursa Malaysia Securities by the Feb 22 2011 deadline. However, it has until March 2 2011 to submit an appeal to Bursa Securities. If it submits an appeal to Bursa Securities within the appeal timeframe, the removal of the securities will be deferred pending the decision on the company’s appeal.
S P Setia Bhd’s proposed private placement of new shares of up 15% of its paid-up to existing major shareholders (also a proposed bonus issue on a one-for-two basis after the placement) will enable the property developer to raise about RM1 billion. The corporate exercise would enable S P Setia to raise funds with minimal dilution to the company’s share capital base. The private placement would involve a bookbuilding exercise which includes a roadshow involving about 30 global funds.
Ramunia: Ramunia Energy and Marine Corp Sdn Bhd disposed of 13.5 million Ramunia Holdings Bhd from Feb 16 to 21 2011. A filing with Bursa Malaysia showed its stake was reduced to 59.62 million shares or 8.99% after the disposal of the shares. Ramunia Energy sold 3.5 million shares on Feb 16 2011 and two million shares the next day. On Feb 18 2011, it disposed of one million shares and seven million shares on Feb 21. It was trading between 67 and 68.5 sen during the period.
Ranhill: It is not ready to say anything about its operations in Libya as it is unsure of the situation in the country. Ranhill is involved in a US$1.2 billion (RM3.66 billion) Tajura Housing Project, which involves the design and construction of 10,680 units of residential apartments in Tripoli , Libya . The project, due for completion in February 2013, was contracted by the Housing and Infrastructure Board of the Libyan Government to Amona Ranhill Consortium, a Ranhill subsidiary.
MasterSkill: For the year ended Dec 31, 2010, its net profit rose to rn102.4 million or 33 sen per share with a historical PER of 5.6 times. Revenue increased to rm315 million. As at Dec 31, 2010 the company had net cash of rm99.41 million and net assets per share of rm1.27.
MasterSkill: 4.90 (HDBS), 2.47 ( Alliance ), 3.59 (OSK), 4.48 (CIMB)
Transmile faces suspension with effect from March 3 and delisting on March 7 2011 for failing to submit a regularisation plan to the regulators for approval by Feb 22 2011. It failed to submit the revamp plan to Securities Commission or Bursa Malaysia Securities by the Feb 22 2011 deadline. However, it has until March 2 2011 to submit an appeal to Bursa Securities. If it submits an appeal to Bursa Securities within the appeal timeframe, the removal of the securities will be deferred pending the decision on the company’s appeal.
S P Setia Bhd’s proposed private placement of new shares of up 15% of its paid-up to existing major shareholders (also a proposed bonus issue on a one-for-two basis after the placement) will enable the property developer to raise about RM1 billion. The corporate exercise would enable S P Setia to raise funds with minimal dilution to the company’s share capital base. The private placement would involve a bookbuilding exercise which includes a roadshow involving about 30 global funds.
Ramunia: Ramunia Energy and Marine Corp Sdn Bhd disposed of 13.5 million Ramunia Holdings Bhd from Feb 16 to 21 2011. A filing with Bursa Malaysia showed its stake was reduced to 59.62 million shares or 8.99% after the disposal of the shares. Ramunia Energy sold 3.5 million shares on Feb 16 2011 and two million shares the next day. On Feb 18 2011, it disposed of one million shares and seven million shares on Feb 21. It was trading between 67 and 68.5 sen during the period.
Ranhill: It is not ready to say anything about its operations in Libya as it is unsure of the situation in the country. Ranhill is involved in a US$1.2 billion (RM3.66 billion) Tajura Housing Project, which involves the design and construction of 10,680 units of residential apartments in Tripoli , Libya . The project, due for completion in February 2013, was contracted by the Housing and Infrastructure Board of the Libyan Government to Amona Ranhill Consortium, a Ranhill subsidiary.
Sunday, August 7, 2011
JIT News - POS,Tenaga,Proton,MasterSkill,KNM,Dayang.. 19/1/2011
POS: Khazanah Nasional Bhd will invite bids from 17 Jan 2011 - 21 Jan 2011 for its stake in Pos Malaysia Bhd ... Rumours of the bidders are SapRes, Scomi Marine, DRB-Hicom, Konsortium, Ekuinas
POS: 3.17 (Inter Pacific), 3.80 (AMResearch), 3.66 (CIMB), 4.45 (OSK)
Tenaga is due to release its 1QFY11 results today 19/01/2011
Proton: Proton Holdings Bhd is in talks with CIMB bank and several others to secure loans and investments totalling 480mil (RM2.35bil) needed to turn around Group Lotus. It hopes to sign an agreement for the loan within Feb 2011 as they are in talks with several banks including our own banker CIMB.
Proton: 4.67 (MBB), 5.95 (CIMB), 4.60 (MIDF), 6.18 (OSK), 6.60 (HDBS), 6.00 (HLB), 6.10 (AMResearch), 5.20 (UOB Kay)
POS: 3.17 (Inter Pacific), 3.80 (AMResearch), 3.66 (CIMB), 4.45 (OSK)
Tenaga is due to release its 1QFY11 results today 19/01/2011
Proton: Proton Holdings Bhd is in talks with CIMB bank and several others to secure loans and investments totalling 480mil (RM2.35bil) needed to turn around Group Lotus. It hopes to sign an agreement for the loan within Feb 2011 as they are in talks with several banks including our own banker CIMB.
Proton: 4.67 (MBB), 5.95 (CIMB), 4.60 (MIDF), 6.18 (OSK), 6.60 (HDBS), 6.00 (HLB), 6.10 (AMResearch), 5.20 (UOB Kay)
MasterSkill: US-based SmallCap World Fund Inc reduced its shareholding in Masterskill Education Group Bhd to 5.48% after it disposed of 1.85 million shares on Jan 12 and 13 2011. The fund disposed of 1.55 million shares on Jan 12 and 300,000 shares the next day. After these transactions, SmallCap World Fund’s stake was reduced to 5.48% or 22.45 million shares. Recent filings showed that FMR LLC and FIL Ltd sold disposed of 2.42 million shares on Jan 6 and 1.33 million shares the next day, reducing its shareholding to 29.74 million shares or 7.26%.
KNM: It has received another 4 years’ extension until Feb 2015 for its term loan facility secured from Maybank. The loan’s principal outstanding as at Jan 7, 2011 was at rm351 million. The term loan should come as a relief to KNM, which has short and long term borrowings of rm1.06 billion as at Sept 2010. Its net gearing is at 0.43 times. Its cash and cash equivalents had also been reduced to rm296 million. Its job orders are increasing to rm4 billion.
KNM: 3.10 (MBB), 3.45 (AMREsearch), 3.50 (HDBS), 0.47 (Kenanga), 2.96 (OSK), 3.09 (RHB), 3.10 (MBB)
Dayang: It has fixed the issue price for its rights issue at rm1.10 per rights share.
Dayang: 3.40 (HDBS), 3.17 (ECM), 3.86 (RHB)
KNM: It has received another 4 years’ extension until Feb 2015 for its term loan facility secured from Maybank. The loan’s principal outstanding as at Jan 7, 2011 was at rm351 million. The term loan should come as a relief to KNM, which has short and long term borrowings of rm1.06 billion as at Sept 2010. Its net gearing is at 0.43 times. Its cash and cash equivalents had also been reduced to rm296 million. Its job orders are increasing to rm4 billion.
KNM: 3.10 (MBB), 3.45 (AMREsearch), 3.50 (HDBS), 0.47 (Kenanga), 2.96 (OSK), 3.09 (RHB), 3.10 (MBB)
Dayang: It has fixed the issue price for its rights issue at rm1.10 per rights share.
Dayang: 3.40 (HDBS), 3.17 (ECM), 3.86 (RHB)
Saturday, August 6, 2011
JIT News - UEM L/Mulpha/Tebrau,SP Setia,Hubline,Suria C,TC, MasterSkill.. 14/1/2011
UEM Land Bhd, Tebrau Teguh Bhd and Mulpha International Bhd are among Malaysian property companies that will benefit from a “re-pricing” of the land and property values in the southern Johor state. The re-rating of the Johor property play started following the negotiation of the land swap deal between Singapore and Malaysia . The re-rating process was further accelerated by the introduction of the Government’s economic transformation program.
SP Setia: Sources say SP Setia is likely to get a 30-year concession to build and operate the Penang International Convention Centre It has emerged as the leading contender to build the Penang International Convention Centre (PICC) on the grounds of the Penang International Sports Arena ( Pisa ).
Hubline: RAM Rating Services Bhd has reaffirmed the ratings of Hubline’s RM220 million debt notes but revised the outlook on the long-term ratings from stable to negative.The outlook may be revised to stable if Hubline is able to demonstrate sustainable improvement in its financial profile on the back of improved cargo volumes for its dry-bulk shipping services and its ability to command better freight rates for its niche routes. On the other hand, Hubline’s ratings could be downgraded if it experiences prolonged deterioration in its financial metrics.
Suria Capital: It and its partners have secured a RM1 billion contract to build a 300MW power plant in Kimanis, Sabah . Its unit SCHB Engineering Services Sdn Bhd and its partners CTCI Corporation, CTCI Overseas Corporation Ltd, CTCI Malaysia Sdn Bhd and Steamline ( Malaysia ) Sdn Bhd were awarded the contract by Kimanis Power Sdn Bhd.
The contract is expected to contribute positively to the earnings of SCHB Engineering for the financial year ending Dec 31, 2011. The contract does not have any material effect on the net assets per share, share capital and substantial shareholders' shareholding of Suria Capital.
SP Setia: Sources say SP Setia is likely to get a 30-year concession to build and operate the Penang International Convention Centre It has emerged as the leading contender to build the Penang International Convention Centre (PICC) on the grounds of the Penang International Sports Arena ( Pisa ).
Hubline: RAM Rating Services Bhd has reaffirmed the ratings of Hubline’s RM220 million debt notes but revised the outlook on the long-term ratings from stable to negative.The outlook may be revised to stable if Hubline is able to demonstrate sustainable improvement in its financial profile on the back of improved cargo volumes for its dry-bulk shipping services and its ability to command better freight rates for its niche routes. On the other hand, Hubline’s ratings could be downgraded if it experiences prolonged deterioration in its financial metrics.
Suria Capital: It and its partners have secured a RM1 billion contract to build a 300MW power plant in Kimanis, Sabah . Its unit SCHB Engineering Services Sdn Bhd and its partners CTCI Corporation, CTCI Overseas Corporation Ltd, CTCI Malaysia Sdn Bhd and Steamline ( Malaysia ) Sdn Bhd were awarded the contract by Kimanis Power Sdn Bhd.
The contract is expected to contribute positively to the earnings of SCHB Engineering for the financial year ending Dec 31, 2011. The contract does not have any material effect on the net assets per share, share capital and substantial shareholders' shareholding of Suria Capital.
Tan Chong Motor: It saw 4.75 million shares transacted in several off-market deals at an average price of RM5.35 apiece.
Masterskill: FMR LLC and FIL Ltd sold more shares disposed of 2.42 million shares on Jan 6 2011 and 1.33 million shares on Jan 7, 2011, reducing its shareholding to 29.74 million shares or 7.26%.
Masterskill: FMR LLC and FIL Ltd sold more shares disposed of 2.42 million shares on Jan 6 2011 and 1.33 million shares on Jan 7, 2011, reducing its shareholding to 29.74 million shares or 7.26%.
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