MMSV (0113)

MMSV (0113), market price:Rm0.670

MMSV, investment holding company, which engaged in manufactures industrial automated systems and machinery, design die sets, jigs, and fixtures and develops computer software.

In 2013, after management switched their business focus from semiconductor business to LED product line, it has successfully hit the highest number in both revenue and net profit in his history. ( LED use in smart phone devices, lighting industry and the automotive industry).

Products distributes within domestic market (26%); USA(40%); Asia (33%) ; Aus (0.18%) and Europe ( 0.01%). {IT is net beneficiary from stronger USD against MYR. 70% of its revenue is dominated in USD}.

Operating activities cash flow surge 170%  from 2011 Rm52,000  to 2015 Rm9.1 million. Also, until end of June 2015 company still maintains stable/strong operating activities cash flow around Rm5.3million.

NTA: Rm0.2110
PE: 9.3
ROE: 34.08
Dividend yield: 3.00
Capital : Rm109million

Kenanga target price: Rm0.950
RHB TP: Rm0.775

Technical analysis: support 0.650 ; resistance Rm0.690; if break 0.70 above, with a target price of Rm0.775.