Quarter report released date:20/2/2016
Recently, I am lazy to do homework
Let's skip nonsense and start the analysis
As usual, I will search other expert's previous research and thanks for the contribution
Business
- Krono是在大马上市的新加坡公司，是提供區域企業數據管理（EDM）公司，主要帮助企业管理数据， 避免遗失数据的风险
- 这包括为企业保证和业务连续性提供数据备份（B ackup）、储存（Storage） 、修復（Recovery） 和回復（Restoration）服务
- 该公司的客户包括新加坡的Satrhub、大马的大眾银行、泰国的PTT Exploration以及Production 公共公司、菲律宾的长程电讯公司及印尼的Pertamina企业 (2016)
- Krono主要是代理美国公司quantum 一系列产品以及合作长达7年之久 (2016)-
- Industry involved: Global Cloud storage market; demand for hybrid cloud storage
EDM Infrastructure Technology
krono原本核心业务是EDM infrastructure technology,而这个生意模式的对象只是服务大型企业而已因为技术的费用比较高而大企业才有能力负担，
EDM MANAGED SERVICES
现在krono计划在2015年会推出新的生意模式叫做EDM MANAGED SERVICES,这个生意模式主要是针对中型企业，而营运的方法是顾客不需要给upfront payment然后收取的费用是以utility base 和monthly base，EDM managed services合约通常是以2年或3年的期限进行。这方法使得EDM技术不再是大型企业拥有的技术而中型企业也能享有了。
管理层观点
krono的老板认为，在越来越多企业运用到IT来营运生意的时代，这些企业都是他们的服务对象，因为经统计计算企业的数据有41%的概率是人为丢失以及54%的概率是软件和网络问题而丢失。他认为在一个庞大数据的时代而数据流失这是一个时间上的问题而已。另外老板也认为中型企业面对数据流失的问题只有3项选择，第一do nothing,第二自己管理可惜的是很多中型企业没有这样的能力，第三交给krono 专业的数据管理商
News
25 July 2016
- Kronologi Asia Bhd (KAB) plans to buy the remaining 80% stake in Quantum Storage (India) Pte Ltd (QSI) from Quantum Storage (India) Ltd (QSIL) for up to RM26 million, to increase its market presence in India.
- QSI is principally engaged in investment holding and infrastructure technology business providing data protection, hardware and software solutions to enterprises.
From Riche Ho
21/2/2017
- 这项收购为KRONO在印度市场的EDM领域扩展铺路，同时也附带附带盈利保证。印度【QUANTUM】保证将在FY16和FY17分别贡献USD1m的税后盈利。以USD/MYR = 4.40计算，这子公司可为KRONO带来额外RM4.3m的盈利，相等于每个季度平均RM1.1m的盈利。翻看KRONO未完成收购前的近三个季度，其平均盈利为RM1.5m。因此，本专页早前估计KRONO的盈利大约在RM2.5m左右。
- 新加坡依然是集团的最大贡献市场
- KRONO的印尼、菲律宾和大马市场的贡献全都按年按季下滑。收入获得扶持主要归功于新子公司印度市场的贡献
- KRONO在FY16Q4录得RM1.42m的显著外汇收益，是集团盈利暴涨的主要因素，而非来自核心业务的增长
Financial performance
- Gross profit margin:23.7%
- Profit before tax:11.46%
- After deduct borrowing, Krono is net cash company
- Major revenue contribution is Singapore (59.89% of total revenue)
- Riche Ho mentioned that the revenue contribution from other countries except India, decreased QoQ
- EDM infrastructure contributed91.46% of revenue
- A company that benefit from strengthen USD
- As mentioned by other blogger, Unrealised foreign exchange (gain) increased substantiallly, which became the main driven of revenue
- According to annual report 20115, The Group intends to build its presence in Vietnam, Sri Lanka and Myanmar
Share price
- Reasonable PE:12
- Latest share price:RM0.36
- Resistance level: RM0.415
- Support level: RM0.315/RM0.295 (A decrease of 12.5%)
- Share price is about to touch previous new high
- If enter now, risk higher, any adjustment will incur loss
- The distance between higher high, higher low is around 14%
- however, a day before share price increased, this rule broke (maybe it can acts as a signal?)
Comment
- As do not have much related knowledge and research report about this industry, and thus next quarter revenue difficult to predict
Reference:
https://klse.i3investor.com/blogs/koko888/103894.jsp
https://klse.i3investor.com/blogs/Life1nvest/105235.jsp
http://www.thesundaily.my/news/1911799
http://www.thesundaily.my/news/1911799
https://klse.i3investor.com/blogs/rhinvest/116390.jsp
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