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Huge Impairment loss in this QR : -
IT Sector – 68M
Energy Sector – 80 M
Total 148M for impairment loss.
Taxation Loss in Energy Sector – 29M
VSS Staff/ Restucture – 5.5 M
Fees for acuqistion – 1.2M
QR show profit due to 273M(Positive net effect from business combination ).
Overall Bad QR but I think Dnex cleaning out and restructure the company. Next QR definitely will be better as all the impairment is done and next is wait for durian to Jatuh. Worst is over for Dnex.
Its a gud thing dat management clear the losses in this Q bcoz they cab afford it ( got 273m from PINg) so next Q will b very beautiful for DneX..looking 4ward for next Q
now oil price usd70.. with ping 90‰, money genenator for next qr.......silterra not sure yet...still need time clean out the company , maybe next year only could reflect the value ......
DNeX bought the stake from Sumitomo Corp's wholly-owned Summit Exploration and Production Ltd for US$5.0 million with further contingent payments, giving a total purchase consideration of US$17.0 million.
"Ping now owns 100 per cent of the greenfield asset, Avalon Oil Development, and this will accord DNeX greater flexibility in executing the project in line with the company's growth strategy and diversification of assets.
yup.. they want have clean start with all impairment do one shot! plus most important is restructuring the company with 5.5m paid for fired those redundant employee! that statement show really Dnex diversity the coMpany !
3R, right business , right people , right price. confident bright future for Dnex.. new management team assigned to Silterra quite experience from Foxcon and China plus dato Wong siew hai 29 years in electronics industry, and they appointed Robert Fisher as board of director for ping oil which 45Years in oil upstream business.
can see the revenue compare last qr slightly increase...but this is between March to June , for next qr is June to September which I think will slight better and will not be good, total lock down the IT sector will not be good. only the energy sector could contribute some . for Silterra I think only can see starting start qr from September to December which is the next next qr..
Frank... Morning.
The 45m revenue will consider too small amount compare with future earning which going to include SilTerra and Ping... The 2 main questions will be -
1. How much profit will ping contribute?
2. DNEX and CGP able to turn around Silterra? How soon?
as long as other business sustainable good enough for dnex , the NSW trade facility also money generator if without impacted by covid , ping and silterra should be well contribute starting next year...worst is over.. just need to wait and see Dnex prove they able to do it with new management team.....patient and wait as diversifying need time.. and China cpg also ready to provide more fund for Silterra to grow !
Forecast EPS for Dnex (own analysis , not from expert ):
EPS 62cent in coming one year, if PE20 share price 1.2, PE 30 share price 1.86.
1. Ping oil - Net profit 15 M Per QR starting next QR
2. Siltera - Starting next year should be 30-40M per QR, 18-24M go to DNex.
3. NSW - Monopoly business , 5-10 M per QR
4. IT sector & RFID - recovery sector, hope not making loss can d. 0 Expectation
5. Submarine cable - depend project, hope not making loss can d, estimate net earning 3-5 M per QR based on contract on hand.
15M(P) + 21M(S) + 7.5(N) + 0(I) + 4(S) = 47.5M
47.5M X 4 = 190M per year, EPS 0.62
All the impairment, or money own by vendor which not paid had been impairment this QR, following QR I dint see any worst will be happened to Dnex.
Just my own forecast, it will be better, Siltera still need more information or next QR to see the / forecast the earning. based on 400M USD contract, it should be good.
never count on that. believe Dnex still need some time to restructuring Siltera plus fired some staff which they did for this qr which costing them 5.5m, I believe they will do so for Silterra ..maybe cost of operating will be higher for sometime before get the things stable...btw asp for chip really speed up Silterra to turn green! let see...next qr will have some information and more information need to wait the qr after next qr which is the result Oct to Dec 2021!
those see the qr positive and buy for aim for contra gain most possibility cut loss d.. maybe good time to collect more for long term if price drop below 0.75...