As one of the world's most important semiconductor powers, South Korea took the lead in releasing PMI data for July. Although exports continued to shrink, the performance was already better than market expectations. Among them, the rise in demand for automotive products and semiconductors slowed down the contraction of trade and achieved a trade surplus for 2 consecutive months
Meanwhile, the index of new export orders rose to 50.2%, breaking out of 16 months of continuous contraction, mainly due to a recovery in demand in the Asia-Pacific and European regions? Samsung, one of the world's technology leaders, recently announced Q2 results. Although revenue and net profit continued to narrow due to the impact of the general environment, performance increased 5% month-on-month, and the chip business also experienced a reversal phenomenon, with revenue rising 7% month-on-month, meaning that the consumer electronics industry is emerging from a sluggish cycle
Coupled with chip giants such as Intel and AMD all delivering performance that exceeded expectations, many investment banks are optimistic about demand growth in the second half of the year and expect the semiconductor industry to be out of the worst situation. With the support of these data, I believe that investors' willingness to hold technology companies will definitely be better than in the first half of the year. In particular, the performance of foreign investors buying back horse stocks seems to be fully prepared for the next rebound
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Skyworld Development Berhad, listed on the main board on 10/7, is a real estate group with KL Center as a development zone. It mainly develops affordable and mid-class properties. From 2014 to now, 7 projects have been completed, with a total development value of more than 3b. The subscription rate for each project is as high as 90%. The order value up to the time of listing is 968b. It can be seen that the profit has been over 3 quarters
In addition, the Group has also won many awards over the past few years, such as Asia Pacific Real Estate Awards, BCI Asia Awards, Malaysia Kincentric Employers Awards, and Global Construction Excellence Awards. After the 2023Q4 results were announced, the annual turnover and net profit set record highs. The Group expects the value of new projects launched in FY2024 to exceed 1b, which means it will continue to grow
Although it has strong fundamentals, is lower than the valuation level of peers, and an initial 4% dividend rate advantage, it is unable to attract investors to enter the market. The situation is very similar to that of Radium, which went public a few days ago
Investors would rather leave at a loss of money than hold on
According to my observations, the only phenomenon that can be explained at the moment is the lack of capital in the market. Foreign capital has continued to leave the horse stock market for the past two months, and the support from local institutions and retail investors is also quite limited. Coupled with the drag of the continued economic slowdown, I don't think real estate is yet everyone's preferred field, so it's not that the group's value isn't in place, but it's a question of timing
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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...

The new governor (Chris Minns), located in New South Wales, Australia, said in an interview a few days ago that the government of the former DPRK had excessively relaxed the state's current construction of the Sydney Metro West Line project in Australia. Cost estimates have soared from the initial 16 billion Australian dollars to 25 billion Australian dollars, which has already exceeded the originally allocated budget, so it is intended to put the plan on hold, and it is not ruled out that it will be cancelled
However, the governor publicly stated two days later that it is currently only in the discussion stage, including how to reduce the budget, shorten or replace routes, and expand development value, etc. At the same time, he assured reporters that “if this plan is cancelled, you can cut off my head”
According to the contract, Gammuda was the general contractor for the project and received a contract worth 2.16 billion Australian dollars on March 1, 2022. Construction in April of the same year was also the group's most valuable hand order. As of the latest quarterly report, the Group has completed 26% of its progress. If it is cancelled, then the value of losses will exceed 1.5 billion dollars, which is 4.53 billion in Malaysian dollars
As a result, Gamuda has been somewhat shaken in the past few days since the news was announced. Today, it even fell below a new low in a month, and once pulled back close to 7.5%. However, to me, investors seem to have overdigested this message. In particular, the governor has stated that he will not rashly cancel all projects, urging the public to reassure the public
Coupled with the imminent opening of the MRT3 tender, the high-speed rail agency reconvening the screening process for the Longxin High Speed Rail, and the imminent arrival of the 2024 budget, I think Gamuda is still...