IPO Series - Steel Hawk Berhad - Onshore & Offshore Support Service Company
Timetable of IPO
![IPO Series - Steel Hawk Berhad - Onshore & Offshore Support Service Company](https://sgsnsimg.moomoo.com/sns_client_feed/104849695/20240817/1723901200810-random3306-104849695-android-org.jpeg/big?area=104&is_public=true)
Figure 1: IPO timetable of STEEL HAWK
-Will be listed on the ACE Board
-Will be listed on the ACE Board
Full Video for IPO Analysis of Steel Hawk Berhad (Chinese version) - YouTube
Info of IPO
Enlarged no. of shares upon listing: 490 million
IPO price: RM0.15
Market capitalization: RM73.50 million
Estimated funds to raise from Public Issue: RM13.50 million
PE ratio = 10.18x (based on FY2023)
Enlarged no. of shares upon listing: 490 million
IPO price: RM0.15
Market capitalization: RM73.50 million
Estimated funds to raise from Public Issue: RM13.50 million
PE ratio = 10.18x (based on FY2023)
Business Model
![IPO Series - Steel Hawk Berhad - Onshore & Offshore Support Service Company](https://sgsnsimg.moomoo.com/sns_client_feed/104849695/20240817/1723901201269-random7638-104849695-android-org.jpeg/big?area=104&is_public=true)
Figure 2: Business model of STEEL HAWK
Source: STEEL HAWK IPO prospectus
Source: STEEL HAWK IPO prospectus
Utilisation of Proceeds
![IPO Series - Steel Hawk Berhad - Onshore & Offshore Support Service Company](https://sgsnsimg.moomoo.com/sns_client_feed/104849695/20240817/1723901201578-random4024-104849695-android-org.jpeg/big?area=104&is_public=true)
Figure 3: Utilisation of proceeds of STEEL HAWK
Source: STEEL HAWK IPO prospectus
Source: STEEL HAWK IPO prospectus
Dividend Policy
-The group recommends distributing minimum dividends of 30% of their annual PAT
-The group recommends distributing minimum dividends of 30% of their annual PAT
Major Customers and Major Suppliers
![IPO Series - Steel Hawk Berhad - Onshore & Offshore Support Service Company](https://sgsnsimg.moomoo.com/sns_client_feed/104849695/20240817/1723901201773-random9-104849695-android-org.jpeg/big?area=104&is_public=true)
![IPO Series - Steel Hawk Berhad - Onshore & Offshore Support Service Company](https://sgsnsimg.moomoo.com/sns_client_feed/104849695/20240817/1723901201957-random5125-104849695-android-org.jpeg/big?area=104&is_public=true)
Figure 5: Major customers and suppliers of STEEL HAWK in FPE2024
Source: STEEL HAWK IPO prospectus
Source: STEEL HAWK IPO prospectus
Financial Summary
![IPO Series - Steel Hawk Berhad - Onshore & Offshore Support Service Company](https://sgsnsimg.moomoo.com/sns_client_feed/104849695/20240817/1723901202109-random3032-104849695-android-org.jpeg/big?area=104&is_public=true)
Figure 6: Profit & Loss statement of STEEL HAWK
![IPO Series - Steel Hawk Berhad - Onshore & Offshore Support Service Company](https://sgsnsimg.moomoo.com/sns_client_feed/104849695/20240817/1723901202250-random3366-104849695-android-org.jpeg/big?area=104&is_public=true)
Figure 7: Financial position of STEEL HAWK
Financial overview, industry market, and personal opinion
-Based on the revenue, it has increased from RM24.845million to RM72.537million between FYE2021 and FYE2023, or a CAGR of 70.86%. However, its PAT margin didn’t follow the increment rate as depicted in the revenue, which grew from only 8.37% to 9.95% within the same timeline.
-Compared with the selected and stated industry players like Carimin, Uzma, Dialog, etc., albeit it is not the highest PAT margin, the group had maintained almost 10% of PAT in FYE2023, recording 9.95%.
-The group is closely tied to the PETRONAS Group in terms of their business activity which is one of the risk factors as stated in its IPO prospectus. Hence, the future stock price might be closely following the stock price of PETRONAS.
-Based on the revenue, it has increased from RM24.845million to RM72.537million between FYE2021 and FYE2023, or a CAGR of 70.86%. However, its PAT margin didn’t follow the increment rate as depicted in the revenue, which grew from only 8.37% to 9.95% within the same timeline.
-Compared with the selected and stated industry players like Carimin, Uzma, Dialog, etc., albeit it is not the highest PAT margin, the group had maintained almost 10% of PAT in FYE2023, recording 9.95%.
-The group is closely tied to the PETRONAS Group in terms of their business activity which is one of the risk factors as stated in its IPO prospectus. Hence, the future stock price might be closely following the stock price of PETRONAS.
![IPO Series - Steel Hawk Berhad - Onshore & Offshore Support Service Company](https://sgsnsimg.moomoo.com/sns_client_feed/104849695/20240817/1723901202511-random8029-104849695-android-org.jpeg/big?area=104&is_public=true)
Figure 8: Financial information of Steel Hawk Group and Selected Industry Players
Source: STEEL HAWK IPO Prospectus
Disclaimer: The above content is not an investment advisory service and does not purport to tell or suggest which securities or stocks customers should buy or sell for themselves. It should not be assumed that the methods, techniques, or indicators presented above will be profitable or will not result in losses. You should not rely solely on the information in making any investment. Rather, you should use the information only as a starting point for doing additional independent research to allow you to form your own opinion regarding investments
The details of the IPO prospectus can be accessed through
SKHAWK - INITIAL PUBLIC OFFERING (" IPO") OF 134,700,000 ORDINARY SHARES IN STEEL HAWK BERHAD ("STEEL HAWK" OR "COMPANY") ("SHARES") IN CONJUNCTION WITH THE TRANSFER OF LISTING OF STEEL HAWK FROM THE LEAP MARKET OF BURSA MALAYSIA SECURITIES BERHAD ("BURSA SECURITIES") TO THE ACE MARKET OF BURSA SECU...
SKHAWK - INITIAL PUBLIC OFFERING (" IPO") OF 134,700,000 ORDINARY SHARES IN STEEL HAWK BERHAD ("STEEL HAWK" OR "COMPANY") ("SHARES") IN CONJUNCTION WITH THE TRANSFER OF LISTING OF STEEL HAWK FROM THE LEAP MARKET OF BURSA MALAYSIA SECURITIES BERHAD ("BURSA SECURITIES") TO THE ACE MARKET OF BURSA SECU...
By: Jshen Ng
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SorosMalaya : very strong shareholder, chief of state police & Selangor royals