Main Market
Technology (Semiconductor)
Shariah Compliant
Grade: B
Cnergenz Berhad
Bursa Ticker: CNERGEN | Listing Year: 2022
Offer Price
RM 0.52
Sifu Target Price
RM 0.53 (+1.9%)
Retail Oversubscription
40.3x
Underwriter (IB)
UOB Kay Hian
Key Dates & Offering Details
Application Closing
TBA
Listing Date
2022-05-24
Target P/E Ratio
22x
Total Enlarged Shares
498.00 M
Free Float
20.0%
MITI Special Allocation
Yes (Bumiputera Reserved)
Analyst Commentary & Hunter Insight
✅ WORTH IT (GRADE B)
SMT manufacturing solutions provider in turnaround phase. Outstanding unbilled orderbook of RM82M with strong AI, hyperscaler and EV demand.
SMT manufacturing solutions provider in turnaround phase. Outstanding unbilled orderbook of RM82M with strong AI, hyperscaler and EV demand.
Growth Catalysts & Strategic Moats
- Katalis Turnaround Semikonduktor: Melangkah masuk ke fasa pemulihan selepas tamat kitaran menurun semikonduktor dengan unjuran prestasi lebih kukuh bagi FY26-FY27.
- Orderbook SMT yang Teguh: Baki unbilled orderbook sebanyak **RM 82 juta** (93% berkaitan Surface Mount Technology) memberikan keterlihatan pendapatan yang mantap.
- Limpahan AI & EV: Pertumbuhan didorong oleh segmen hyperscaler AI dan pembuatan EV yang memerlukan modul kuasa serta papan AI server.
Financial Performance Summary
| Financial Metric | FY23 | FY24 | FY25 | Projected (FY F) |
|---|---|---|---|---|
| Revenue (RM) | 161.69 M | 135.00 M | 110.00 M | 220.00 M |
| Profit After Tax (PAT) | 15.00 M | 11.45 M | 2.99 M | 12.00 M |
| EPS (sen) | 3.01 | 2.30 | 0.60 | +300.0% |
Utilization of Proceeds
Expansion & Working Capital
Peer Comparison & Valuation Context
Peer Comparison: PE Terbitan (Forward) sekitar 21.5x, sejajar dengan purata industri pembuatan peralatan SMT/Semicon.
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