大马首相乱局己告一段落,原油回稳至32美元,長期至5
美元回跌,避开出口股,改进国内消
稳定收入与政联股,抗跌,股票流通好,買入,
myeg不用看pe,估计2016年 eps =6 sen,pe=50,股价=rm3.00
短期上下起伏为正常,但長期在穩定净利与成長的支撑下,股价是向上的。
供参考,不是買賣建议.
公司网站;(網上更新外勞準證和保險、車子易主及汽車保險和路稅更新服務.)
https://www.myeg.com.my/
子公司;(资讯科技产品、信用卡终端机及其他相关产品里的供应与经销业务。)
http://www.cardbiz.com.my/
短期上下起伏为正常,但長期在穩定净利与成長的支撑下,股价是向上的。
供参考,不是買賣建议.
公司网站;(網上更新外勞準證和保險、車子易主及汽車保險和路稅更新服務.)
https://www.myeg.com.my/
子公司;(资讯科技产品、信用卡终端机及其他相关产品里的供应与经销业务。)
http://www.cardbiz.com.my/
持股3至5年‧聯昌力推6大股
Author: Tan KW | Publish date: Tue, 13 Oct 2015, 02:55 PM
2015-10-13 11:20
（吉隆坡12日訊）考慮到市面上目前缺少真正的“長期研究報告”，聯昌研究於是以3至5年期作準，推出新的“長期必持股”報告，替那些有意持股極長時間的投資者提供額外參考資料。
有關“長期”的定義，聯昌直言市場一直存在不同概念，如股神巴菲特對長期的解釋可能達30年甚至更久，但市場分析員所謂的“長期”卻可能只代表1年。
因此，聯昌強調將在新報告中，把“長期”的定義拉長至少2至3年，甚至是3至5年。
聯昌研究在報告中說，雖然市場上的分析員一般都有替其所追蹤的公司提供長達3年的財測，但在設定目標價時卻往往只以6至12個月為準，甚至連18個月後的目標價都很少見，或許這是出於股價波動和投資者需求的緣故。
“短期股價波動是由領域方向、大市趨向、業績表現、企業新聞和分析員評價等因素左右，但我們認為長期股價走勢將更貼近基本面，將由管理層能力、財政強度、估值和盈利展望等因素推動，而這些也是我們在最新報告中的焦點所在。”
選最值得長期投資的公司
聯昌強調，這份最新報告並非要向投資者推介長期內的最佳投資領域，而是會從該行所追蹤的所有18個領域裡，選出一家最值得作長期投資的公司。
另外，在擬定長期策略時，聯昌直言是以樂觀心態看待長期宏觀展望，並對一些領域的展望尤其樂觀，包括預測在未來5年裡，週期性領域如產業、建築和科技領域將處上升週期，抗跌領域如消費品、產業信託和公用事業則預計保持穩定。
聯昌強調長期目標價是在預期一切相安無事的情況下，簡單計算出的可實現價格，但若發生預料之外的負面發展，目標價可能有下行空間。
透過以上選股標準，聯昌選出的最具長期上升潛力大資本股，分別是興業資本（RHBCAP，1066，主板金融組）、賀特佳（HARTA，5168，主板工業產品組）和金務大（GAMUDA，5398，主板建筑組）。
小資本股3大上升潛力公司
小資本股方面，首3大上升潛力公司則分別是OWG控股（OWG，5260，主板貿服組）、MYEG服務（MYEG，0138，主板貿服組）和GHL系統（GHLSYS，0021，主板科技組）。
●焦點公司
1.）GHL系統
評級：加碼
目標價：1令吉65仙
評級：加碼
目標價：1令吉65仙
今年在大馬和菲律賓落實交易付費購買模式後，GHL系統已進入讓人興奮的成長階段，聯昌預期GHL系統將在政府推動電子付費使用的經濟轉型計劃（ETP）措施下受惠。
2.）MYEG服務
評級：加碼
目標價：3令吉92仙
評級：加碼
目標價：3令吉92仙
聯昌看好MYEG服務管理層的創意和企業家才能，能夠為其電子政府服務（e-government）增添商業價值，未來幾年的強勁盈利增長料由外勞工作準證更新服務和海關服務稅監督計劃推動。
3.）OWG控股
評級：加碼
目標價：3令吉66仙
評級：加碼
目標價：3令吉66仙
聯昌看好OWG控股在雲頂高原和光大的商業模式，預料當20世紀霍士主題樂園和光大大廈啟動和成熟時，未來幾年盈利將取得爆炸性成長。
1)
2016-01-26 17:07
（吉隆坡26日訊）MYEG服務（MYEG，0138，主板貿服組）宣佈獲天地通移動（Celcom Mobile）頒發合約，將成為天地通的推廣、行銷及分銷夥伴，同時服務終端客戶。
分析
聯昌研究對此合約表示正面驚喜，據該行所知，與天地通的夥伴計劃是為外勞在註冊時提供預付SIM卡，此SIM卡可供當局鑑定外勞身份。
雖然合作模式未公佈，但聯昌研究相信若外勞使用該SIM卡通話，MYEG服務將獲得部份收益。
根據統計，外勞平均每月電話費為50令吉，若MYEG從中抽取10%，MYEG的營業額將每月增加500萬令吉。
雖說如此，但並沒規定外勞必須使用該SIM卡通話，只規定外勞必須隨身攜帶。
聯昌研究估計，若在2016財政年內，MYEG能成功註冊100萬名非法外勞，而當中的30%使用該SIM卡，這可為MYEG帶來1千800萬令吉的營業額。
此外，聯昌研究也預計賺幅將高達70%，因為整個計劃最大的花費就只有服務中心。
此外，目前的合法外勞共有250萬名，在今年更新工作准證時也會獲得新的SIM卡。這表示在2017年裡，這SIM卡將會有350萬名用戶，以30%的使用率計算，可提昇2017年營業額6千300萬令吉，同時，2017年淨利可能增加4千400萬令吉。
雖說如此，但聯昌研究在MYEG公佈SIM卡使用率前不調整財測，保持“買入”評級，目標價為2令吉83仙。（星洲日報／財經）
2)
MyEG 分销天地通产品
2016-01-24 11:25
（吉隆坡23日讯）MyEG（MYEG，0138，主板贸服股）受委为亚通（AXIATA，6888，主板贸服股）旗下天地通（Celcom）的直销管道（DirectChannel）伙伴，负责推广、营销和分销产品给终端用户。
根据文告，MyEG今日从天地通手中接过委任书，负责相关活动。
MyEG指出，公司成为天地通伙伴后，可借助对方的网络，来辅助现有服务和未来推出的新服务。
“公司看好这项合作，在未来为盈利和净资产捎来贡献。”http://www.nanyang.com/node/745369?tid=462
3)
MyEG sees higher revenue from FWPR services in FY16
This article first appeared in The Edge Financial Daily, on January 7, 2016.
[url=]MyEG Services Bhd[/url] (
Valuation: 1.10, Fundamental: 2.30)
(Jan 6, RM2.17)
Maintain add with a target price (TP) of RM2.83: MyEG Services Bhd’s (MyEG) proposed 1:1 bonus issue ex-date was on Tuesday. Its issued share base rises from 1.2 billion shares to 2.4 billion shares.
Although the bonus issue is fundamentally neutral, investors in the domestic market view the bonus issue positively. A larger issued share base should help boost the stock’s trading liquidity and the lower share price ex-bonus would make the stock more affordable to retail investors.
MyEG’s foreign workers’ permit renewal services (FWPR) will be its largest revenue contributor in financial year 2016 (FY16), according to management.
In May 2015, the government appointed MyEG to handle nationwide FWPR services and also to develop and maintain a database of foreign workers in the country. There are 2.5 million legal foreign workers and likely around five million illegal workers in the country.
MyEG charges a RM35 processing fee and another RM65 in commission from selling compulsory foreign workers’ insurance.
In September 2015, the [url=]Immigration Department[/url] also appointed MyEG to undertake the registration of illegal foreign workers in the country.
Pre-registration has started, and we believe registration should start soon for the illegal workers. We assume MyEG would register one million illegals in FY16, which is conservative, in our view, as we believe there are around five million illegal foreign workers in the country.
If the company could register two million illegal foreign workers, this could boost FY16/FY17 earnings per share by 18% to 22%.
We maintain our “add” recommendation on the stock and TP is unchanged at RM2.83 ex-bonus. Potential catalysts include a stronger-than-expected revenue from FWPR services and the successful launch of the custom service tax monitoring project in mid-2016. — [url=]CIMB Research[/url], Jan 5
This article first appeared in The Edge Financial Daily, on January 7, 2016.
[url=]MyEG Services Bhd[/url] (
Valuation: 1.10, Fundamental: 2.30)(Jan 6, RM2.17)
Maintain add with a target price (TP) of RM2.83: MyEG Services Bhd’s (MyEG) proposed 1:1 bonus issue ex-date was on Tuesday. Its issued share base rises from 1.2 billion shares to 2.4 billion shares.
Although the bonus issue is fundamentally neutral, investors in the domestic market view the bonus issue positively. A larger issued share base should help boost the stock’s trading liquidity and the lower share price ex-bonus would make the stock more affordable to retail investors.
MyEG’s foreign workers’ permit renewal services (FWPR) will be its largest revenue contributor in financial year 2016 (FY16), according to management.
In May 2015, the government appointed MyEG to handle nationwide FWPR services and also to develop and maintain a database of foreign workers in the country. There are 2.5 million legal foreign workers and likely around five million illegal workers in the country.
MyEG charges a RM35 processing fee and another RM65 in commission from selling compulsory foreign workers’ insurance.
In September 2015, the [url=]Immigration Department[/url] also appointed MyEG to undertake the registration of illegal foreign workers in the country.
Pre-registration has started, and we believe registration should start soon for the illegal workers. We assume MyEG would register one million illegals in FY16, which is conservative, in our view, as we believe there are around five million illegal foreign workers in the country.
If the company could register two million illegal foreign workers, this could boost FY16/FY17 earnings per share by 18% to 22%.
We maintain our “add” recommendation on the stock and TP is unchanged at RM2.83 ex-bonus. Potential catalysts include a stronger-than-expected revenue from FWPR services and the successful launch of the custom service tax monitoring project in mid-2016. — [url=]CIMB Research[/url], Jan 5
4)2016-01-07 09:21
（吉隆坡6日訊）MYEG服務（MYEG，0138，主板貿服組）的1送1紅股計劃今日除權，分析員看好旗下服務貢獻潛力，維持“加碼”評級不變。
紅股計劃令該公司股本從12億股倍增至24億股，聯昌研究認為影響中和，但本地投資者正面看待此活動，因這有助於提昇該股交易量，較低股價也讓散戶更可負擔。
外勞准證服務主要貢獻
該公司預計，外勞工作准證更新服務（FWPR）將成為2016財政年最大營業額貢獻者。
2015年5月，政府委任該公司負責全國FWPR服務、發展及維持外勞數據庫。
目前大馬有250萬名合法外勞，約400萬至500萬非法外勞。
該公司從中獲取3千500萬令吉處理費，並透過售賣外勞保險賺取6千500萬令吉傭金。
2015年9月，大馬移民局委任該公司負責國內非法外勞註冊行動，預先登記已展開，聯昌研究相信註冊將很快開始。
“保守估計，該公司將在2016財政年註冊100萬名非法外勞，若成功註冊200萬名非法外勞，料有望提振2016／2017財政年每股盈利18至22%。”
有鑑於此，該行維持“加碼”評級及2令吉83仙不變，潛在催化因素包括FWPR服務帶來高於預期營業額及在2016年中旬成功推出關稅服務稅監管（CSTM）計劃。
上個月該股已上漲20%，今日閉市報2令吉17仙，漲5仙。（星洲日報／財經‧報導：郭曉芳）
5)
推2新服务 MYEG明年收入加强
（吉隆坡18日讯）隨著MYEG服务（MYEG，0138，主板贸服股）將于2016年落实两项新服务，预计可进一步加强该公司的收入。
上述两项服务，分別为6P非法外劳漂白计划中的外劳准证更新服务，以及关税服务税监控系统（CSTM），各將于明年1月和下半年推出，相信可为该公司营业额带来正面贡献。
根据一名今天出席MYEG服务股东常年大会和特別大会的小股东向媒体表示，管理层透露服务將陆续启用。
每位外劳准证更新费用为100令吉。现时非法外劳人数介于300万至500万人，因此，预期MYEG服务明年营业额表现料趋好。
该名股东引述MYEG服务董事经理黄天顺在大会上向股东指出，该公司早前获得大马移民局所颁发的非法外劳登记服务合约，预计在明年1月实行。
股东也补充，涵盖视频和饮料业务的首阶段CSTM预计在明年下半年推行。
「MYEG服务將可向皇家关税局收取每店家1000令吉固定收入。」该公司首阶段CSTM原定于2015年第3季落实，惟被延展。若一切顺利，MYEG服务將会推出第2阶段CSTM，目標为大型零售领域。
股东也称，该公司管理层透露亦会在明年落实道路安全侦查器（Road Safety Diagnostic Kit）。但，基于政府並未强制性地要求所有罗里及巴士业者安装有关侦查器，所以无法预测该项目对公司带来的潜在盈利贡献。
另一方面，MYEG服务在今日的特大获得股东通过派送红股的议案。该公司將以1送1比例，派送12亿零210万股红股（包括433万库存股）予股东，惟除权日待定。
该项计划將把缴足资本从12亿零210万股或1亿2021万令吉，提高至24亿零420万股或2亿4042万令吉。
MYEG服务股价年初至今「跑贏大市」，涨幅为85.3%，优于富时综指年初至今的6.66%跌幅。该股今天闭市报3.91令吉，全天起5仙或1.3%。http://www.orientaldaily.com.my/business/cj2myeg
6)
6)
MER reiterates "Outperform" on My E.G. |
Date: 01/12/2015
| Source | : | MACQUARIE GROUP | ||||||||
| Stock | : | MYEG | Price Target | : | 3.85 | | | Price Call | : | BUY | |
| Last Price | : | 2.21 | | | Upside/Downside | : |  +1.64 (74.21%) | ||||
My E.G has recently released its results for financial year ending 2016, posting stronger annual and quarter profit after tax and minority interest (PATAMI) which increased by 24% and 135% respectively.
Macquarie Equities Research (MER) released a research report on Monday morning, making sense of My E.G’s financial results while reiterating its Outperform rating for the stock with a 12-month target price of RM3.85. Read excerpts from the report titled “Still growing at a robust pace” below…
Event
Impact
Earnings and target price revision
Price catalyst
Action and recommendation
Source: Macquarie Research - 1 Dec 2015
Macquarie Equities Research (MER) released a research report on Monday morning, making sense of My E.G’s financial results while reiterating its Outperform rating for the stock with a 12-month target price of RM3.85. Read excerpts from the report titled “Still growing at a robust pace” below…
Event
- My E.G. is starting off FY16 with a strong set of results; its PATAMI (Profit after Tax and Minority Interests) of RM28.5mn is up 24% quarter-on-quarter (q-o-q) and 135% year-on-year (y-o-y), as transaction volume for the renewal of foreign worker permits continues to pick up. As MER is expecting the government to announce the amnesty program soon, the strong earnings growth will continue into coming quarters.
Impact
- Foreign Workers’ Permit (FWP) renewal and related services revenue is now 50% of the group revenue. My E.G. is now processing close to 130k transactions a month, an increase from 100k in the 4QFY15, but still below the theoretical rate of 180k transaction per month rate (Based on 2.2mn workers). As the number of transactions moves closer to the 180k per month, MER is expecting the earnings growth to continue.
- Amnesty will be the catalyst and will be announced soon. MER is expecting the amnesty program to be announced by the government soon, as the contract is only valid until 4 March 2016, and it will take the consortium (including My E.G.) at least 2-3 months to register the illegals. MER believes that My E.G. can record close to RM100mn in revenue from the program, which constitutes 25% of MER’s full-year revenue forecast.
- Still waiting to hear good news on GST EMS. There is still no update from the government on the implementation date of the goods and services tax’s Electronic Monitoring System (GST EMS) program. Even if the government were to delay the implementation date further (current target start date is Apr’16), the impact to MER’s forecast would be relatively minimal, as MER is only expecting it to contribute 5% of FY17E revenue.
Earnings and target price revision
- No change.
Price catalyst
- 12-month price target: RM3.85 based on a discounted cash flow methodology.
- Catalyst: Announcement of the amnesty program by the government.
Action and recommendation
- Reiterate Outperform recommendation as MER believes the stock valuation is not rich due to the strong growth rate, as price earnings ratio (PER) will fall from 62x FY15 to 17x in FY17E.
- Macquarie Quant views on the stock is favourable too, ranking it 29th out of 647 stocks in Software & Services, with the strongest style exposure being Profitability.
Source: Macquarie Research - 1 Dec 2015
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