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Catcha Media Berhad IPO Target Price Fair Value

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Catcha Media Berhad IPO Target Price Fair Value Empty Catcha Media Berhad IPO Target Price Fair Value

Post by hlk Fri 08 Jul 2011, 20:38

2010, 2011, 2012, 2013
Catcha EPS RM0.061, RM0.085, RM0.112, RM0.128
Catcha PE ratio 12.3x, 8.8x, 6.7x, 5.8x
Growth 39% (2011), 31%(2012), 14% (2013)
No net gearing, net cash
Catcha dividend yield n/a
Forecast from TA Securities

Valuation from TA
We value Catcha Media Berhad using Asia Media Group Berhad as a benchmark. Asia Media was listed on the ACE Market in January of this year. Using an FY12 target PER of 6.5x, we derive a fair value of RM0.73/share for Catcha Media. We recommend investors not to subscribe as we are of the opinion that this stock is fully valued. Nonetheless, we advise investors to buy on dip as this company offers interesting business potential along with its strategic investor, Star Publications (M) Berhad.
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