Disclaimer: This is my personal logic trading analysis blog that show my own personal analysis. All information provided here are for sharing purposes only. The author should not be held liable for any informational errors, incompleteness or for any actions taken in reliance on information contained herein. Buy at your own risk.

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Friday, November 23, 2018

ELKDESA - STEADY GROWTH THAT REMAIN SILENT



ELKDESA (5228) is a very low volume stock and not much people pay attention to it, that's why our title mentioned this company remain silent.

We have been also monitor this stock silently for years because if market don't move it, we even happy because we can slowly collect it.

However, we believe now is best time to share about this company because we believe the latest result have been telling us, it's big time for them to start a big rally ! 

What this company do? You can view their website first here:

http://www.elk-desa.com.my/

Basically their core business are hire purchase financing for used motor vehicles, and another is furniture. Hire Purchase Financing can be a very unique business and the very few that listed in BURSA. 

A little bit similar peer can be compare or related are RCECAP which also doing financial but different field.

To put this analysis simple and quick, first we show you the quarterly result ever since IPO until now.

We can see super obvious that during IPO year 2013, Revenue only RM 10 million and profit 2 million.



Until latest quarter, Revenue already growth to triple up to RM 30 million, and profit growth to 4x which is RM 8.6 million. 

It's very obvious that this company have been posting good result ever since year 2013 until 2018 and almost every quarter improve.

This have been very long time and already proved for 5 years tracking record, not much stock in BURSA can do that.



Looking at Dividend return also Superb as the company have 60% dividend policy, which with current price of RM 1.20+, dividend yield have about 5-6% which is consider quite good compare to many other stock.

Although the company have been go through a 3 time right issue, but in actual fact those right issue is give big opportunity for shareholder to buy at lower price and increase their share, which we can show you at the chart below. (Monthly chart to show price ever since IPO until now)


If we adjust the chart with right issue, we can see that all this year the price lowest only at RM 1.00.

And just last week price have making a Big Breakout !!

A breaking of RM 1.24 and close RM 1.27 seems to bring this stock to close at new high !!

We do not know whether you ever listen one quotes from BURSA, if a stock can break new high, at least another 20-30% upside will be seems because everyone is making money and the mood of buying up is high !

Another thing is that the company expecting to continue post even better result ! So what ?


As a Conclusion :

1. Revenue, Profit new historical high.
2. Revenue triple up and profit quadruple compare to the first time ipo result.
3. Almost every quarter improving revenue and profit.
4. Dividend increased, yield at about 5.6%, every year give 2 time ever since IPO 2013.
5. Dividend Policy (%) 60% of earning, that's why good dividend payout.
6. Business furniture and hire purchase loan to second hand car market and general insurance.
7. If you missed the growth of RCECAP, this one will be the next good choice.
8. Price has been sideways for 3 years ever since 2015, is time to wake up. 
9. Director been buying lately, price at RM 1.18. This level will be strong support.
10. Risk reward very good.  If count in pass few right issue, current price just break new high, which mean got 20%-30% to go higher.

My Personal target it should at least go to RM 1.40-1.60 level or even higher towards RM 2.0, once market recognize and notice it, sure will start goreng higher.

2 comments:

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