Daythree is a global service provider (GBS) that provides customers with one-stop service support, such as technical support, customer retention management, accounts receivable management, content review, transaction processing, business analysis, etc. Simply put, it helps enterprises improve business efficiency while reducing operating costs
Its business is divided into three major digital tools, namely Daisy, Saige, and Faith. Through these tools, it provides customers with a range of life cycle management services. From acquisition, participation, retention, to feedback, we collect data between customers and customers, and organize it through an AI automated system to maximize the efficiency of business sales
Furthermore, the Group covers a wide range of customer fields, with the highest contributions being the energy and utilities, telecommunications and media, finance, and infrastructure sectors, respectively
According to the prospectus, turnover for the past three years has maintained double-digit growth, but net profit declined in 2022. This is because it received tax relief approval from the MDEC government department from establishment to 2021, so income tax must begin to be paid in FY2022. However, in January 2023, the Group received another tax exemption and was extended to 2027, which will help increase actual earnings for the next 5 years
Another focus of attention from the market is that Hextar CEO Dato' Wing-ming appeared at the IPO press conference. Although the name was not mentioned in the prospectus, what comes to mind is the private placement of shares, only...

As a representative of a well-known blue-chip company, Hapseng has 6 major businesses, namely palm oil, industry, credit, automobiles, trade, and construction materials. The most famous of these is having Sabah's largest sustainable palm oil business, which has been the Masaidi sales champion for many years, and a 10-year upward cycle
From 2011 to 2020, Hapseng's stock price rose from less than RM1 to RM10, an increase of up to 1000%. This is an annual increase of 100% on an even basis. Until the outbreak of the epidemic, stock prices seemed to have shown great resistance. The past two quarters handed over disrespectful performance due to falling CPO prices, rising raw material prices, and transportation costs
Furthermore, the announcement by Hapseng of the divestment of the credit business in early March and plans to use it to repay loans and operating costs rather than as a special dividend also disappointed investors. Coupled with the impending change in the auto agency model, there seem to be more uncertainties about the outlook, so that the stock price quickly fell below a 7-year low, even lower than the total value of net assets per share
As mentioned in the previous video, once the essence of the business changes, retail investors must take extra care rather than rush to the bottom. Happeng, for example, has sold out the most stable profitable business. However, the change in the Macédi agency model will also affect future profitability. Coupled with the continued slump in CPO prices and the beginning of weakening consumer demand, not...