小资女向前冲（大马股市）

Quarter report released date:16 Mar 2017   

哇哇~EPS 18.16, 吓了我一跳！和我算的几乎一样！！太高兴了！

当然到目前为止，Magni还是为低估的，而且上升空间还是有，只是比之前的小了

大概是RM6, 但是discount下，RM5.50还是有的

现在就继续跟进吧，虽然现在进可以吃的肉也不多了

Financial performance

- Revenue and net profit hit new high

- Revenue and profit increased was due to higher order,higher exchange gain, improvement productivity 

- Revenue for German sector increase 30.9% was due to higher order, better exchange rate (yoy)

- Revenue for Germant sector increase 3.7% was due to better exchange rate, offset by lower order received (qoq)

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Target price

- This quarter reflect Nov-Jan result, average exchange rate is RM4.419

- Given next month exchange rate against USD fall to RM4.5, average exchange rate is 4.46

- Assume next quarter revenue remain unchange, net profit would drop,EPS is 17

- Given PE:8,share price: RM5.3

- Given PE10, share price: RM6.7

Risk

- closure of packaging sector, means Magni currently fully rely on garment segment

- If US exchange rate lower, that mean it will lower down Magni's profit

- This quarter,higher net profit was due to higher exchange rate, however order received decrease compared with last quarter

Below here is comments from 股灵精探

**MAGNI的业绩其实可以更出色，看了财务报表可以发现里边出现了2.8 mil的开销，这才让我想起MAGNI已经把包装业务停业了，我已经完全忘了这回事。所以如果撇开关闭包装业务的停业成本，净利已经破3千万！更出色！

还有就是Reserve已经超出share capital，再发红股不是问题。3个季度的每股净利已经超越50仙，假设第4季每股净利是10仙，全年每股净利是60仙，以本益比9来计算，目标价将会是RM5.40