Vriddhi Consulting

Punit Khanna

Independent Insight Provider

Equity Bottom-Up

<ul>
<li>Formosa Prosonic announced an 80-cent Special Dividend as the management decided to return excess cash</li>
<li>3rd quarter results showed EPS of 7.92 cents, though there is a gain on the sale of PPE of 35% of profits</li>
<li>Management but given the stock trading below cash we remain positive on the stock</li>
</ul>
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    <h2>Raising Money for Persons with Disabilities in Singapore</h2>
    <p><strong><em>For your kind consideration</em></strong></p>
    <p><em>This report has been prepared by Vriddhi Consulting, founded by Punit and Debjani Khanna. A portion of the research was contributed by Shubham Khanna, an individual on the autism spectrum.  We are grateful to Smartkarma for providing a platform to share this research and amplify its impact.</em></p>
    <p><em>All proceeds from the publication of this report will be donated to support people with disabilities in Singapore. If you find this report valuable, we invite you to support our campaign, “Raising Money for Persons with Disabilities in Singapore.” Every contribution directly benefits the Goh Chok Tong Enable Fund and qualifies for a 250% tax deduction for Singapore tax residents.</em></p>
    <p data-start="635" data-end="669">To contribute, <a href="https://www.giving.sg/donate/campaign/raising-money-for-person-with-disabilities-empowering-visions-shaping-future" target="_blank" rel="noopener">please visit this URL.</a> </p>
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Formosa Prosonic announced an 80-cent Special Dividend as the management decided to return excess cash
3rd quarter results showed EPS of 7.92 cents, though there is a gain on the sale of PPE of 35% of profits
Management but given the stock trading below cash we remain positive on the stock

    
    Raising Money for Persons with Disabilities in Singapore
    For your kind consideration
    This report has been prepared by Vriddhi Consulting, founded by Punit and Debjani Khanna. A portion of the research was contributed by Shubham Khanna, an individual on the autism spectrum.  We are grateful to Smartkarma for providing a platform to share this research and amplify its impact.
    All proceeds from the publication of this report will be donated to support people with disabilities in Singapore. If you find this report valuable, we invite you to support our campaign, “Raising Money for Persons with Disabilities in Singapore.” Every contribution directly benefits the Goh Chok Tong Enable Fund and qualifies for a 250% tax deduction for Singapore tax residents.
    To contribute, please visit this URL. 
    
    

Formosa Prosonic: Special Dividend of 80 Cents

<ul>
<li>Formosa Prosonic is a very cheap stock. Cash on its Balance Sheet is MYR 1.65 which is way higher than stock price.</li>
<li>Operating business has been consistently profitable &amp; generated very good ROE &amp; is available for free. </li>
<li>Stock has been falling as Wistron the largest shareholder has decided to exit its holding as part of strategic overview which we think is a Buying opportunity</li>
</ul>


Formosa Prosonic is a very cheap stock. Cash on its Balance Sheet is MYR 1.65 which is way higher than stock price.
Operating business has been consistently profitable &amp; generated very good ROE &amp; is available for free. 
Stock has been falling as Wistron the largest shareholder has decided to exit its holding as part of strategic overview which we think is a Buying opportunity


Formosa Prosonic: (FOR MK) : Margin of Safety Is Very High - Trades Below Cash

<ul>
<li>Formosa Prosonic: Asymmetrical Risk Reward for investing as operating business is being priced for nothing</li>
<li>The company is leading manufacturer of industrial solutions focused for audio and electronic musical products</li>
<li>It has significant client concentration risks with Top 3 customers accounting for 92% of Revenues.</li>
</ul>


Formosa Prosonic: Asymmetrical Risk Reward for investing as operating business is being priced for nothing
The company is leading manufacturer of industrial solutions focused for audio and electronic musical products
It has significant client concentration risks with Top 3 customers accounting for 92% of Revenues.


Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Quantitative Analysis

<ul>
<li>We analyzed the changes in short interest of Bursa stocks as of Nov 28th. The aggregated short interest is USD459m.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Ekovest, Datasonic, DRB - Hicom, Supermax, Eco World Develop.</li>
</ul>


We analyzed the changes in short interest of Bursa stocks as of Nov 28th. The aggregated short interest is USD459m.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Ekovest, Datasonic, DRB - Hicom, Supermax, Eco World Develop.


Bursa Short Interest Weekly (Nov 28th): Ekovest, Datasonic, DRB - Hicom, Supermax, Eco World Develop

<ul>
<li>We analyzed the changes in short interest of Bursa stocks as of Nov 14th. The aggregated short interest is USD444m.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in UEM Sunrise, Tenaga Nasional, Eco World Develop, Genting Malaysia, CIMB.</li>
</ul>


We analyzed the changes in short interest of Bursa stocks as of Nov 14th. The aggregated short interest is USD444m.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in UEM Sunrise, Tenaga Nasional, Eco World Develop, Genting Malaysia, CIMB.


Bursa Short Interest Weekly (Nov 14th): UEM Sunrise, Tenaga Nasional, Eco World Develop

Malaysia

Formosa Prosonic Industries Berhad assembles high quality speaker systems and manufactures printed circuit boards. Through its subsidiaries, the Company manufactures molded plastic components for audio and video equipment, and also develops, manufactures and markets drive-unit high technology loudspeakers.

Price Gauge
52-week Range	0.00 - 0.00
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Formosa Prosonic Inds (FOR MK)

Formosa Prosonic: Special Dividend of 80 Cents

Formosa Prosonic declares an 80-cent Special Dividend, with 3rd quarter EPS at 7.92 cents, and still trades below cash with an operating business...

Punit Khanna

Formosa Prosonic: (FOR MK) : Margin of Safety Is Very High - Trades Below Cash

Formosa Prosonic is undervalued as trades below cash presenting a buying opportunity as the stock price has fallen due to a major shareholder's...

Punit Khanna

Formosa Prosonic: Trading at Cash

Formosa Prosonic offers an asymmetrical risk-reward for investors due to low valuations assigned to its operating business due to near term...

Punit Khanna

Bursa Short Interest Weekly (Nov 28th): Ekovest, Datasonic, DRB - Hicom, Supermax, Eco World Develop

We analyzed Bursa Malaysia short interest report for the past week and highlighted short interest changes in Ekovest, Datasonic, DRB - Hicom,...

Ke Yan, CFA, FRM

Bursa Short Interest Weekly (Nov 14th): UEM Sunrise, Tenaga Nasional, Eco World Develop

We analyzed Bursa Malaysia short interest report for the past week and highlighted short interest changes in UEM Sunrise, Tenaga Nasional, Eco...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Formosa Prosonic: Special Dividend of 80 Cents

​Formosa Prosonic declares an 80-cent Special Dividend, with 3rd quarter EPS at 7.92 cents, and still trades below cash with an operating business...

Punit Khanna

Formosa Prosonic: (FOR MK) : Margin of Safety Is Very High - Trades Below Cash

​Formosa Prosonic is undervalued as trades below cash presenting a buying opportunity as the stock price has fallen due to a major shareholder's...

Punit Khanna

Formosa Prosonic: Trading at Cash

​Formosa Prosonic offers an asymmetrical risk-reward for investors due to low valuations assigned to its operating business due to near term...

Punit Khanna

Bursa Short Interest Weekly (Nov 28th): Ekovest, Datasonic, DRB - Hicom, Supermax, Eco World Develop

We analyzed Bursa Malaysia short interest report for the past week and highlighted short interest changes in Ekovest, Datasonic, DRB - Hicom,...

Ke Yan, CFA, FRM

Bursa Short Interest Weekly (Nov 14th): UEM Sunrise, Tenaga Nasional, Eco World Develop

We analyzed Bursa Malaysia short interest report for the past week and highlighted short interest changes in UEM Sunrise, Tenaga Nasional, Eco...

Ke Yan, CFA, FRM

Formosa Prosonic declares an 80-cent Special Dividend, with 3rd quarter EPS at 7.92 cents, and still trades below cash with an operating business...

Formosa Prosonic is undervalued as trades below cash presenting a buying opportunity as the stock price has fallen due to a major shareholder's...

Formosa Prosonic offers an asymmetrical risk-reward for investors due to low valuations assigned to its operating business due to near term...