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Suiwah shares up, analysts positive on prospects
by Cals Fri 14 Feb 2014, 17:22
Updated: Friday February 14, 2014 MYT 3:12:25 PM
Suiwah shares up, analysts positive on prospects
KUALA LUMPUR: Shares of Suiwah Corporation Bhd rose at mid-afternoon on Friday as analysts were positive on its future prospects, citing a higher fair value estimate than the actual market price.
At 2.48pm, its shares jumped 25 sen to RM2.35 with 342,900 shares traded between RM2.23 and RM2.43.
The FBM KLCI was up 2.34 points to 1,819.49. Turnover was 1.33 billion shares valued at RM1.074bil. There were 426 gainers, 247 decliners and 323 counters unchanged.
PublicInvest Research said based on its SOP valuation, its sees deep underlying value in the company as it could be worth at least RM274mil or RM4.78 per share.
PublicInvest said Suiwah’s current market capitalisation of RM120.4mil has only factored in the value of its retail business manufacturing division, Sunshine Square property and net cash.
“The group has a healthy balance sheet , with net cash/S-T investment of RM33.4mil 58 sen a share,” it said.
It added Suiwah has consistently been paying eight sen per annum for the last seven years.
“Besides that, the company’s balance sheet and operating cash flows are healthy and solid.
“Its net cash position currently stands at RM33.4mil with positive net operating cash flow of around RM25mil-RM40mil for the last three years,” it said.
Suiwah shares up, analysts positive on prospects
KUALA LUMPUR: Shares of Suiwah Corporation Bhd rose at mid-afternoon on Friday as analysts were positive on its future prospects, citing a higher fair value estimate than the actual market price.
At 2.48pm, its shares jumped 25 sen to RM2.35 with 342,900 shares traded between RM2.23 and RM2.43.
The FBM KLCI was up 2.34 points to 1,819.49. Turnover was 1.33 billion shares valued at RM1.074bil. There were 426 gainers, 247 decliners and 323 counters unchanged.
PublicInvest Research said based on its SOP valuation, its sees deep underlying value in the company as it could be worth at least RM274mil or RM4.78 per share.
PublicInvest said Suiwah’s current market capitalisation of RM120.4mil has only factored in the value of its retail business manufacturing division, Sunshine Square property and net cash.
“The group has a healthy balance sheet , with net cash/S-T investment of RM33.4mil 58 sen a share,” it said.
It added Suiwah has consistently been paying eight sen per annum for the last seven years.
“Besides that, the company’s balance sheet and operating cash flows are healthy and solid.
“Its net cash position currently stands at RM33.4mil with positive net operating cash flow of around RM25mil-RM40mil for the last three years,” it said.
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