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After the recent listing of three main board companies, it is inevitable that the market's funds will be "divided", and one of the companies that has attracted a lot of investor attention is MEGAFB, which was listed at a PE valuation of 29.13 times (IPO price of RM0.670), of course, many investors also consider it expensive.
So, today we will focus on discussing the industry where MEGAFB is located - the security seals industry, the growth prospects of the company itself 📈, and finally talk about the valuation issue.
#Business Introduction
The so-called security seals are mainly used to 🛡️ protect items, and to see if the protected items have been opened without authorization during transportation, just like the cap of a soda bottle. Once opened, the plastic ring will definitely leave marks, 🤔 which is known as the "Tamper Evidence" term in this industry.
Generally speaking, security seals are also divided into 3 security levels, the highest level that requires a force of 10 kilonewtons ("kN") to open 🔝 , usually these security seals are mainly made of steel or alloy, mainly for protecting valuable items such as gold and firearms transportation.
What does 10 kN mean...

Stock price (23/08/2024): RM 0.310
P/E: 91.12 times
Dividend Yield: 1.16%
Net Tangible Assets: RM1.270
Under normal circumstances, Real Estate Investment Trusts (REITs) are considered stable investments. So why is this AmanahRaya REITs (ARREIT, 5127) being labeled as "transforming" today?
When looking at the price chart of this REIT, you can basically see that ARREIT is showing a significant downward trend, with the company's NTA showing a considerable difference compared to last week's share price, at a discount of about 75.20%.
However, at the same time, ARREIT's dividend yield is only 1.14%. So why, despite owning so many properties, is the profit and dividend distribution capability decreasing?
#Industry Overview
Based on existing data, ARREIT has a total of 11 properties, covering office spaces, retail outlets, education, hotels, and industrial properties; undoubtedly making ARREIT a diversified bond REIT.
Although it owns many industries, due to the industry being too scattered, it has not gained many advantages in management, and operation is not easy either. Therefore, as everyone can see, ARREIT has been continuously selling industries recently to integrate the company's industry portfolio.
For example, in June 2024, ARREIT sold at RM 42....

Stock price (2024/07/22): RM0.220
P/E: 12.9 times
Dividend yield: N/A
NTA: RM0.200
After the market correction last week, our stock market once again saw 914 declining stocks yesterday, and trading volume also declined. It seems that this correction is a bit too big.
However, we can still notice that the recent IPO performances have been very good, with oversubscription generally above 50 times (of course, it depends on the industry). Therefore, the moderator also wants to share information about BWYS Group Berhad (BWYS, 0313), a company that is not often mentioned, and let everyone have a deeper understanding of them.
As mentioned in the title, BWYS is a steel company, and the company's business can be divided into three main categories: firstly, sheet metal manufacturing related products, secondly, the sale and rental of scaffolding, which are the "frames" we see outside some buildings, and finally, the trading of steel-related products.
In FY2023, sheet metal manufacturing accounted for 73.0% of revenue, scaffolding accounted for 24.9%, and trading accounted for the minority...

Stock Price (2024/06/13): RM0.280
P/E: 8.47 times
Dividend yield: N/A
NTA: RM0.270
It seems like yesterday was a very good day, as three companies released their prospectuses preparing for listing at once?
And among these three IPOs, the moderator has also selected the company that is thought to be the most interesting for discussion; but first, it is important to mention that this is not a recommendation to buy or sell, and by the end, everyone needs to filter it themselves.
Let's first talk about why there is a perception that Ocean Fresh Berhad (OFS, 0312) is so interesting; firstly, OFS has only 210.1 million shares in this IPO, priced at RM0.280 per share, which means that after listing, the company's market cap will be RM58.8 million, considered relatively small for IPOs within 2024.
Furthermore, OFS's IPO this time did not include MITI's subscription, nor did any shareholders sell their equity (referred to as Offer for Sale, coincidentally also 'OFS'), quite intriguing.
In other words, OFS falls under the category of small-cap stocks, with low selling pressure, and upon further investigation, the background of a few major shareholders is also remarkable. If interested, you can browse through the prospectus and delve deeper into research...
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