External broker reports(aggregated public sources), TA Securities Holdings Berhad

TA Securities Holdings Bhd

External broker reports(aggregated public sources)

TA Securities Holdings Berhad

TA Securities Holdings Berhad (TASH) was incorporated in Malaysia on 1 July 1973 and is a wholly-owned subsidiary of TA Enterprise Berhad which is listed on the Main Market of Bursa Malaysia Securities Berhad (BMSB). Currently, the company has an issued and paid-up share capital of RM250 million. 

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Equity Bottom-Up

Coraza Integrated Technology / Equity Bottom-Up

<ul><li>CORAZA reported FY23 core net loss of RM3.6mn.</li><li>This was below ours and consensus’s full-year net loss forecasts of RM1.9mn and RM2.0mn, respectively.</li><li>The variance was mainly due to slower-than-expected demand recovery from the customers.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

CORAZA reported FY23 core net loss of RM3.6mn.This was below ours and consensus’s full-year net loss forecasts of RM1.9mn and RM2.0mn, respectively.The variance was mainly due to slower-than-expected demand recovery from the customers.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Coraza Integrated Technology Berhad - Dragged by Weak Demand

<ul><li>Coraza reported a 9MFY23 core net loss of RM0.2mn, which came below ours and consensus full-year estimates for core net profit of RM4.4mn and RM3.0mn, respectively.</li><li>On our end, results missed on weaker-thanexpected revenue primarily due to the persistent deferral of orders from semiconductor customers.</li><li>YoY. 9MFY23’s revenue dropped 39.6% YoY to RM64.9mn, primarily due to the persistent deferral of orders from semiconductor customers amid the semiconductor industry’s cyclical downcycle and inventory glut.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Coraza reported a 9MFY23 core net loss of RM0.2mn, which came below ours and consensus full-year estimates for core net profit of RM4.4mn and RM3.0mn, respectively.On our end, results missed on weaker-thanexpected revenue primarily due to the persistent deferral of orders from semiconductor customers.YoY. 9MFY23’s revenue dropped 39.6% YoY to RM64.9mn, primarily due to the persistent deferral of orders from semiconductor customers amid the semiconductor industry’s cyclical downcycle and inventory glut.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Coraza Integrated Technology Berhad - Dragged by Persistent Deferral of Orders

<ul><li>Coraza’s 1HFY23 core net profit of RM1.0mn (-85.9% YoY) came within ours but below consensus full-year estimates at 23.0% and 11.6% respectively.</li><li>We expect the group’s performance to improve in 2HFY23 as its customers’ inventory glut eases.</li><li>YoY. 1HFY23’s core net profit sank 85.9% YoY to RM1.0mn as revenue declined 28.5% YoY to RM49.3mn.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Coraza’s 1HFY23 core net profit of RM1.0mn (-85.9% YoY) came within ours but below consensus full-year estimates at 23.0% and 11.6% respectively.We expect the group’s performance to improve in 2HFY23 as its customers’ inventory glut eases.YoY. 1HFY23’s core net profit sank 85.9% YoY to RM1.0mn as revenue declined 28.5% YoY to RM49.3mn.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Coraza Integrated Technology Berhad - 1HFY23 Dragged by Chip Industry’s Downcycle

<ul><li>Coraza is acquiring a ready-built factory situated on 91,902 sq ft of freehold industrial land in Nibong Tebal, Penang, for RM17.7mn.</li><li>We view the acquisition positively, as it will allow Coraza to capture opportunities and meet the demands of new projects.</li><li>If we assume that the factory has a built-up area of 52,000 sq ft, it is estimated to enlarge Coraza’s total manufacturing floor space by 52.5%. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Coraza is acquiring a ready-built factory situated on 91,902 sq ft of freehold industrial land in Nibong Tebal, Penang, for RM17.7mn.We view the acquisition positively, as it will allow Coraza to capture opportunities and meet the demands of new projects.If we assume that the factory has a built-up area of 52,000 sq ft, it is estimated to enlarge Coraza’s total manufacturing floor space by 52.5%. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Coraza Integrated Technology Berhad - Acquiring Ready-Built Factory in Penang

Malaysia

Coraza Integrated Technology Berhad is a metal fabricating company. The Company specializes in fabrication of sheet metal, precision engineering, and electro-mechanical assembly, such as cutting, bending, welding, milling, turning, and tapping. Coraza Integrated Technology serves customers globally.

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Coraza Integrated Technology (CORAZA MK)

Coraza Integrated Technology Berhad - Dragged by Weak Demand

CORAZA reported FY23 core net loss of RM3.6mn. This was below ours and consensus’s full-year net loss forecasts of RM1.9mn and RM2.0mn, respectively.

TA Securities Holdings Bhd

Coraza Integrated Technology Berhad - Dragged by Persistent Deferral of Orders

Coraza reported a 9MFY23 core net loss of RM0.2mn, which came below ours and consensus full-year estimates for core net profit of RM4.4mn and...

TA Securities Holdings Bhd

Coraza Integrated Technology Berhad - 1HFY23 Dragged by Chip Industry’s Downcycle

Coraza’s 1HFY23 core net profit of RM1.0mn (-85.9% YoY) came within ours but below consensus full-year estimates at 23.0% and 11.6% respectively.

TA Securities Holdings Bhd

Coraza Integrated Technology Berhad - Acquiring Ready-Built Factory in Penang

Coraza is acquiring a ready-built factory situated on 91,902 sq ft of freehold industrial land in Nibong Tebal, Penang, for RM17.7mn.

TA Securities Holdings Bhd

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