LGMS BERHAD

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***Important***Blogger isn’t written any advice & recommendation. All is private opinion and reader will have to take their very own possibility in funding choice

Open to use: 20/05/2022
Close to use: 26/05/2022
Balloting: 30/05/2022
Listing date: 08/06/2022

Share Capital
Market cap: RM228 mil
Total Shares: 456 mil stocks

Industry & Competitor (Top 5 PAT% & Top 5 Loss)

Forecast CAGR 2022-2026: 13.9%
Top 5 (top PAT%)
1.LGMS: 36.5% (PAT)
2.Across Verticals: 29.6%
3.Pricewaterhousecoopers Advisory Services S/B: 28.7%
4.NTA Monitor: 17.7%
5.Ernst & Young: 16.8%
Top 5 (Losses /close to losses)
1.BAE System: -0.6%
2.KPMG: -3.1%
3.Deloitte Business Adisory S/B: -2.2%
4.e-Lock Corporation S/B: 2.4%
5.Cisco machine: 2.5%
Business (2021)
1.Cybersecurity evaluate
2.Penetration checking out
3.Cyber ​​possibility control and compliance
4.Provision of virtual forensic and incident reaction services and products.
Revenue via Geo
Malaysia: 78.76%
Singapore: 11.58%
Others ASEAN: 3.38%
Asia: 4.69%
Others: 1.59%

Fundamental
1.Market: Ace Market
2.Price: RM0.50
3.P/E: 22.12 @ EPS0.0226
4.ROE(Pro Forma III): 14.49% (ProForma)
5.ROE: 36.71%(FYE2021), 37.19%(FYE2020), 33.32%(FYE2019), 38.16%(FYE2018)
6.NA after IPO: RM0.16
7.Total debt to present asset after IPO: 0.085 (Debt: 6.248mil, Non-Current Asset: 3.712mil, Current asset: 73.822mil)
8.Dividend coverage: Did no longer have mounted dividend coverage.

Past Financial Performance (Revenue, Earning Per stocks, PAT%)
2021 (FYE 31Dec): RM28.262 mil (Eps: 0.0226),PAT: 36.46%
2020 (FYE 31Dec): RM20.649 mil (Eps: 0.0176),PAT: 39.10%
2019 (FYE 31Dec): RM20.563 mil (Eps: 0.0139),PAT: 30.78%
2018 (FYE 31Dec): RM17.387 mil (Eps: 0.0131),PAT: 34.46%
Top buyer (2021)
Over 10% income: Customer A (14.15%)
5-10% income: Customer B (6.12%)
under 5%: 6 shoppers
Total main buyer: 33.58% of corporate income.

After IPO Shareholding

Fong Choong Fook: 53.86%
Goh Soon Sei: 16.1%

Directors & Key Management Remuneration for FYE2022 (from Revenue & different source of revenue 2021)
Total director remuneration: RM1.476 mil
key control remuneration: RM0.65 mil – RM0.80 mil
general (max): RM2.276 mil or 8.05%

Use of fund
1. Puchase of place of business: 39.39%
2. Expansion of group of workers: 14.22%
3. Equipment and equipment: 13.13%
4. Strategic trade enlargement: 16.85%
5. Working Capital: 7.66%
6. Lisiting bills: 8.75%

Conclusions (Blogger isn’t written any advice & recommendation. All is private opinion and reader will have to take their very own possibility in funding choice)
Overall is a great IPO with top rising trade.

*Valuation is handiest private opinion & view. Perception & forecast will trade if any new quarter end result unencumber. Reader take their very own possibility & will have to do personal homework to apply up each quarter end result to regulate forecast of elementary price of the corporate.a

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