IPO Series - Crest Group Berhad - Semicon, Automotive, E&E, and Oil& Gas Related Company

Info of IPO
Enlarged no. of shares upon listing: 865.598 million
IPO price: RM0.35
Market capitalization: RM302.95 million
Estimated funds to raise from Public Issue:  RM45.74 million
PE ratio = 15.07x (based on FY2023)
 
 
Business Model

Figure 2: Business model of Crest Group Berhad
Source: Crest Group Berhad IPO prospectus

Utilisation of Proceeds

Figure 3: Utilisation of proceeds of Crest Group Berhad
Source: Crest Group Berhad IPO prospectus

Dividend Policy
-The group intends to pay not less than 30% of the group's PAT

Major Customers and Major Suppliers

Figure 5: Major customers and suppliers of Crest Group Berhad in FPE2024
Source: Crest Group Berhad IPO prospectus
 
Financial Summary

Figure 6: Profit & Loss statement of Crest Group Berhad

Figure 7: Financial position of Crest Group Berhad

Financial overview, industry market, and personal opinion
-Based on the Profit & Loss statement, the highest PAT was recorded in FY2023, with the amount of RM20.10million. However, the available quarterly report of FPE2024 does not perform as well as the previous FY.
According to the independent market research report, the only listed company with a similar business is QES Group Berhad, but its PAT margin was less than Crest Group Berhad's in FY2023, at only 7.96% compared to 10.71%.
-Th Federal Reserve has announced to cut the fed rate up to 50 B.P., and expecting to boost up the indices around the world, particularly the industries relate to automotive, semiconductor, and life science.

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