VIZIONE (7070) - VISI ZONE!!!

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DATE: 08 NOVEMBER 2017
 
STOCK: VIZIONE [0.16 cts]
TARGET PRICE: 0.25 cts & high TP
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THE PROFILE
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Vizione Holdings Berhad is a public company listed on the Main Market of Bursa Malaysia Securities Berhad (Stock exchange of Malaysia). The Group is after the diversification, principally engaged in the business of property development, construction and property investment business.
 
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THE KEYNOTE
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VIZIONE (Jan) - Raised gross proceeds of about RM58.92mil from its renounceable rights issue of new shares with free warrants. The construction company, which was formerly known as Astral Supreme Bhd, said on Thursday it had recorded a final subscription level of 99.84%, or 582.92 million rights shares. Given the funding, Vizione is set to secure more construction projects to boost its future earnings.
 
VIZIONE (Feb) - Construction outfit and property developer Vizione Holdings Bhd, formerly known as Astral Supreme Bhd, rose 4.76% in early trade today after it announced that it had raised gross proceeds of RM58.92 million, following the completion of its two-for-one rights issue with free detachable warrants. Given the funding, Vizione is set to secure more construction projects to enhance its future earnings.
 
VIZIONE (Mar) - Has called off a proposed joint venture with Paragon Residencia Sdn Bhd to develop a residential project worth RM152.2 million in gross development value in Seri Kembangan, Selangor, following lower-than-anticipated proceeds from a cash call that was concluded on Feb 10.
 
VIZIONE (Mar) - Awarded a RM67.3 million subcontract job in relation to a Program Perumahan Rakyat in Lahad Datu, Sabah. The job was awarded to Vizione’s wholly-owned unit Vizione Construction Sdn Bhd by Permata Rebana Sdn Bhd. It has been tasked to supply material, labour, tools and equipment to carry out the design, build and delivery of 410 units of low-cost walk-up flats in Lahad Datu. The job carries a construction cost of RM61.02 million, which gives it a thin profit margin of 4.2%.
 
VIZIONE (Mar) - Entered into a Heads of Agreement (HoA) to negotiate further on the proposed acquisition of Wira Syukur (M) Sdn Bhd (WSSB) for RM280 million from WSSB’s shareholders. WSSB’s owners or vendors are Vizione’s managing director Datuk Ng Aun Hooi, Bee Jian Ming and Goon Mong Yee. Vizione said the proposed acquisition is to be satisfied via cash. Added that the issuance of new shares in Vizione at the issue price of 11 sen per share, and the cash consideration amount and the number of shares are to be determined later. The vendors have agreed to provide an accumulative profit guarantee of RM82.59 million in respect of the actual aggregate audited profit after tax of WSSB for the financial years ending Dec 31, 2017 and Dec 31, 2018.
 
VIZIONE (Apr) - Returned to the black in the third quarter ended Feb 28, 2017 (3QFY17) with a net profit of RM152,000, against a net loss of RM513,000 a year earlier. Revenue rose 91.71% to RM14.61 million in 3QFY17, from RM7.62 million in 3QFY16, the construction and property group.
 
VIZIONE (Apr) - Has won a RM58 million subcontract in a government housing project in Kelantan under the Program Perumahan Rakyat (PPR). The group said its wholly-owned subsidiary, Vizione Construction Sdn Bhd, received a letter of award from Warisan Sanjungan Sdn Bhd to supply material, labour, necessary tools and equipment to build 418 units of low cost walk-up flats at Machang district.
 
VIZIONE (Sep) - Will be acquiring a 100% stake in construction company Wira Syukur (M) Sdn Bhd (WSSB) for a total of RM280 million. The group said that it had received approval by its shareholders for the proposed acquisition during the company’s extraordinary general meeting. The acquisition will be satisfied via the combination of cash and issuance of new ordinary shares of Vizione, to be issued at an issue price of 11 sen per share.
 
VIZIONE (Sep) - Expects to register revenue growth of between 5% and 10% for the financial year ending May 31, 2019 (FY19) , following the acquisition of Wira Syukur (M) Sdn Bhd (WSSB) this year. Group managing director Datuk Ng Aun Hooi said the acquisition would boost the group’s revenue as WSSB had unconditionally guaranteed an aggregate post-tax profit contribution of RM82mil for the group. “Our current order book balance stands at RM3bil, while the tender book amounts to RM1.5bil,” he told a press conference after the company’s extraordinary general meeting (EGM).
 
VIZIONE (Sep) - Expects to register revenue growth of between 5% and 10% for the financial year ending May 31, 2019 (FY19) , following the acquisition of Wira Syukur (M) Sdn Bhd (WSSB) this year. Group managing director Datuk Ng Aun Hooi said the acquisition would boost the group’s revenue as WSSB had unconditionally guaranteed an aggregate post-tax profit contribution of RM82mil for the group. “Our current order book balance stands at RM3bil, while the tender book amounts to RM1.5bil,” he told a press conference after the company’s extraordinary general meeting (EGM).
 
VIZIONE (Sep) - Looking at the possibility of paying dividends to shareholders from as early as the next financial year ending May 31, 2019 (FY19), said its group managing director Datuk Ng Aun Hooi. The last time it declared an interim dividend was for FY02 when it was still known as Astral Supreme Bhd.
 
VIZIONE (Oct) - Has secured a construction job worth about RM400 million following the completion of a reverse takeover exercise last month.
 
VIZIONE (Oct) - Vizione Holdings Bhd’s net profit leapt to RM529,000 for its first quarter ended August 31, 2017 (1QFY18) from RM121,000 in the previous corresponding period on higher revenue from its construction segment. It said revenue more than doubled to RM21.34 million from RM8.61 million on higher contributions from the construction of its four Sabah-based housing development projects.
 
VIZIONE (Oct) - Has bagged a RM401 million contract to build four blocks of office suites on Jalan Sunway, Semenyih, Ulu Langat, Selangor. Vizione said its wholly-owned subsidiary, Wira Syukur (M) Sdn Bhd has accepted a letter of award from Paragon Hemisphere Sdn Bhd for the proposed project.
 
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WHAT IS KIM'S STOCKWATCH VIEW?
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"The one will surge test 19c and break 0.20c resistant to hit 0.25 at least. THIS MONTH!!! I forsees HIGH TP and will release to SGT members this NOVEM DAY!. Good Luck!"Kim Spartan
 
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THE FINANCIAL
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