VIZIONE have been selected as 2018
RHB Investment Bank Top 20 Jewels. Target price around 20sen-28sen.
Below is the full analysis report -
Novamsc (0026) which also one of the 20 Jewels, share price rise from 10sen to highest 17.5sen. Today closed at 16.5sen.
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When Pakatan Harapan win the 14th General Election, all stocks link to Pakatan Harapan record a substantial rise. Such as EDEN, THRIVEN, EDUSPEC, ASB, OPCOM, EWEIN, IDEAL and VERTICE. The last 3 stocks EWEIN, IDEAL and VERTICE is link to Penang. Let take a look on the share price performance after election.
EWEIN rise from 39sen to 87sen, IDEAL rise from 59sen to RM1.21 and VERTICE rise from 83sen to RM1.13. Actually VIZIONE also link to Penang theme, but nobody notice it.
Vizione eyes new govt’s affordable housing projects
Novamsc (0026) which also one of the 20 Jewels, share price rise from 10sen to highest 17.5sen. Today closed at 16.5sen.
_________________________________________________________________________________________
When Pakatan Harapan win the 14th General Election, all stocks link to Pakatan Harapan record a substantial rise. Such as EDEN, THRIVEN, EDUSPEC, ASB, OPCOM, EWEIN, IDEAL and VERTICE. The last 3 stocks EWEIN, IDEAL and VERTICE is link to Penang. Let take a look on the share price performance after election.
EWEIN rise from 39sen to 87sen, IDEAL rise from 59sen to RM1.21 and VERTICE rise from 83sen to RM1.13. Actually VIZIONE also link to Penang theme, but nobody notice it.
Vizione eyes new govt’s affordable housing projects
KUALA LUMPUR: Vizione Holdings Bhd, a niche player in the affordable
housing sector, finds its business strategy to be in tandem with the new
government’s promise to build one million affordable homes across the
country within two terms of its administration.
Vizione managing director Datuk Ng Aun Hooi believes the group’s
expertise in affordable housing development will enhance its
competitiveness in bidding for housing projects under the new
government.
“We believe we can remain competitive in our niche market, which is in
the construction of affordable homes … in line with the Pakatan Harapan
government’s promise to build affordable homes,” Ng said in an interview
with The Edge Financial Daily.
Vizione has an order book of RM3.75 billion to date, with almost half
of its undertakings comprising government housing projects.
Aside from government projects, the group also has a long-standing
relationship with the private sector, with clients such as Sunway Group
and Gardenia Bakeries (KL) Sdn Bhd.
“As we now have a new government, they may need time to stabilise. We
are lucky that we have a big order book as it may take time for
government tenders to be called, and for us to replenish government
housing contracts.
“For the time being, in order to [expand] our order book, we may need
to secure more projects from the private sector, as well as from my own
private developments,” he said.
Ng is the chairman of two private property development firms, namely Midlands Edu City Sdn Bhd and KL Northgate Sdn Bhd.
Meanwhile, Ng corrected a possible public perception that Vizione is a
“government-linked stock” as most of its government housing projects
were secured when Barisan Nasional was in power.
He stressed that he is “purely a businessman” and that the group’s business is apolitical.
“It is very hard for me to immediately correct that [government-linked]
perception. What we do hope is the public look at the numbers that we
deliver. We have an order book of RM3.75 billion that will last us until
2021,” he said.
Ng also reassured that the RM465 million Federal Territories Affordable
Housing (Rumawip) project in Gombak secured by the group, which forms
part of its order book, will proceed as planned.
“The Rumawip project in Gombak is already enforced and sales are 95%
done, and we have completed about 35% of the foundation [works],” he
said.
Ng pointed out that Vizione is not involved in the recently highlighted
sale of 64 parcels of land in Kuala Lumpur to property developers from
2013 to 2018, which was done under the purview of former federal
territories minister Datuk Seri Tengku Adnan Tengku Mansor.
Kepong member of parliament Lim Lip Eng lodged a report with the
Malaysian Anti- Corruption Commission last week, calling for an
investigation into the parties involved in the 64 land deals, which he
claimed were mostly done without an open tender and at below market
value. Lim said less than half of these plots of land were for public
housing projects such as Rumawip, while a majority were for high-end
residential projects.
“We have no issues on land subject matters; none of Vizione’s projects are on that list,” stressed Ng.
Ng, who hails from Bukit
Mertajam, Penang, also has an interest in Consortium Zenith Construction
Sdn Bhd, the special-purpose vehicle company which is undertaking the
RM6.3 billion Penang undersea tunnel and Outer Ring Road (ORR) project.
It is understood that Vizione
was in the midst of participating in one of the packages of the ORR,
prior to the project being put on hold earlier this year.
“We shall await the new
[Penang] chief minister and his team on the direction of the Penang ORR.
Vizione believes the project should proceed again following GE14 (14th
general election), and will participate in any tender for this project,”
he said.
Meanwhile, Ng said the government’s recent move to zero-rate the goods
and services tax (GST) before moving into the sales and services tax
(SST) regimen is a welcome move.
“The GST did impact the construction industry; the burden on businesses was much heavier compared to the SST,” he said.
As for its financials, Vizione reported a net profit of RM15.14 million
for the nine-month period ended Feb 28, 2018, which was more than 36
times the RM415,000 recorded in the previous corresponding period.
Revenue rose by more than ninefold to RM302.49 million.
The reason for the big rise in profit and revenue was the inclusion of
earnings of Wira Syukur (M) Sdn Bhd, a construction firm which was
injected into Vizione as part of a RM280 million reverse takeover
exercise that was completed in October last year.
Vizione’s share price did not move as much as that of other
construction counters last Monday, the first trading day after the
change in government. The stock dropped to as low as 11 sen that day
(15% lower than its close of 13 sen on May 8, a day before GE14) before
closing at 12 sen.
At the end of trading for the week last Friday, the counter closed at 13 sen, with a market capitalisation of RM480.4 million.
Now VIZIONE share price look like at the bottom. Will it play a catch up to EWEIN, IDEAL and VERTICE ?
http://klse.i3investor.com/blogs/PureTechnicalAnalyst/164065.jsp
