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bought a few CSCSTEL at 1.24 (morning open price, 17 nov 2025). no debt and lot of cash company. good privatization target at above rm1.7 offer price. CSCSTEL now made up about 2% of my total portfolio / investment capital.
If MYR strengthens from 4.20 → 4.00:
• Gross Margin improves ~1.8%
• Net Margin improves ~1.4%
• Significant benefit because CSC is import-dependent
• Cash flow improves due to lower working capital requirement
If MYR stays stable or strengthens → bullish for CSC
Ringgit strengthening cycles typically occur when:
• Fed cuts interest
• Commodity prices soften
• USD index weakens
• Malaysia trade surplus grows
Which is currently happening.
Final FYE 2026 Projected Results (USD/MYR 4.00)
Metric Result
Revenue RM 1.45b
Gross Profit RM 174–181 million
Operating Expenses RM 65.3 million
EBITDA RM 108–116 million
EBIT RM 81.7–89 million
Net Profit (FX adjusted) RM 92.8 million
Summary
• Strong MYR (4.00) boosts margins significantly.
• GPM rises to 12%–12.5%.
• Net profit lifts to RM93m, compared to ~RM80m at FX 4.20.
• Working capital & inventory costs also benefit, supporting the higher NPM.
其实没有所谓高估或低估的股票，所有估值背后 都是资金和投资者情绪推动
Panamy 应该算是超级低估股，99speed mart mini market 生意算是高估值低估股票通常是没有主力资金关注一直平盘震荡，想买进也要深入研究接来半年一年之内有没有业绩复苏..没复苏股票在便宜买入很容易错失其他机会
bought a few CSCSTEL at 1.31 (morning session, 17 dec 2025). see if can hold until next QR. meanwhile hope for privatization offer at above rm1.7. CSCSTEL now made up about 1% of my total portfolio / investment apital.
by the way checked hiaptek qr actually it is not really that good because significant impairment reversal involved in the total profit. (but still improvement in profit margin can be noticed). cscstel here result more clean and provide better DY anticipation
等2月中接近业绩公布，股价完成盘整，才放出我做好的gross prosit and net profit model, 用了最新Oct - Dec FX usd/myr, HRC, iron ore, coking coal
摸型是套用在Q2-Q3 算出forecast net profit
应该会和公布业绩不会相差太大
而且最新usd/myr 4.07-4.08未来业绩应该是不错的