- On 1 Feb 2024, UMS announced the successful completion of a placement of 40m new shares at S$1.29 per share to institutional investors. Of the S$49.98m net proceeds raised, 60% would be ear-marked for capex, 20% for working capital, and 20% for potential joint ventures or acquisitions.
- - Read this at SGinvestors.io -
- The placement price of S$1.29 translates into a historical FY22 P/E of 8.8x and 14.4x/11.5x/10.4x our pre-placement FY23-25F EPS forecasts.
4Q23F performance likely similar to 3Q23
- We think UMS could report 4Q23F revenue of S$85.7m (+20.3% q-o-q, -15.1% y-o-y) as market conditions improved moderately in 4Q23F and higher prices for its system integration business kicked in.
- - Read this at SGinvestors.io -
- Hence, we think UMS's 4Q23F net profit could be S$15.8m (+3.0% q-o-q, -2.1% y-o-y).
Revenue from new customer could gather pace in FY24-25F.
- Read more at SGinvestors.io.
Above is the excerpt from research report by CGS-CIMB.
Clients of CGS-CIMB may access the full report in PDF @ https://www.itradecimb.com.sg/.
William TNG CFA CGS-CIMB Research | https://www.cgs-cimb.com 2024-02-05
Previous report by CGS-CIMB:
2023-11-13 UMS - Remains Optimistic On FY24 Outlook.
Price targets by other brokers at UMS Target Prices.
Listing of research reports at UMS Analyst Reports.
Relevant links:
UMS Share Price History,
UMS Announcements,
UMS Dividends & Corporate Actions,
UMS News Articles
