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Apr
17, 2006
- The Edge Weekly
Mesdaq-bound Advance Information
Marketing Bhd (AIM) is confident of achieving
20% net profit growth this year and intends
to distribute at least 40% of it to shareholders
as dividend.
In its listing prospectus, AIM forecast a
RM9 million net profit on the back of RM41.6
million in turnover for fiscal 2006. This
represents some 20% growth from the RM7.5
million net profit and 12% growth from the
RM37 million turnover estimated by the company
for FY2005.
Shareholders can look forward to a 2.3 sen
dividend per share should AIM achieve its
profit forecast and make at least a 40% payout.
At the initial public offering price of 42
sen, this translates to a 5.5% yield.
The company, which provides loyalty management
services and business process outsourcing
solutions, expects to benefit from increasing
awareness of the importance of customer retention
initiatives.
With plans to woo more customers from countries
like Singapore, Brunei, China and Indonesia,
some RM3.9 million raised from its flotation
will be used for business expansion. Another
RM3 million has been earmarked for software
and equipment purchases to prepare its network
to cater for higher traffic volumes. Some
63% of the RM4.8 million slated to fund research
and development activities is to pay salaries
of IT knowledge workers.
AIM, which enjoys tax breaks as a Multimedia
Super Corridor company (since June 2, 2004),
is also interested in exploring acquisition
or joint-venture opportunities in Indonesia,
China and Thailand.
Of its RM26.1 million revenue for the nine
months to Sept 30, 2005, only 1.1% is from
abroad, specifically Singapore and Brunei.
Its main customer is Electronic Commerce Technology
Sdn Bhd (ECT), the owner of the RealRewards
programme, which contributed 39% of turnover
for the nine-month period.
AIM's controlling shareholders - Nyang Koon
Seng, Tay Woon Teck, Datin Rahmah Kassim and
her husband Datuk Shamsuddin Hayroni - are
also the ultimate shareholders of ECT.
Other clients include Alliance Bank, AmBank,
Debenhams Departmental Store Berjaya Times
Square Sdn Bhd, F&N Coca-Cola (M) Sdn
Bhd, Mydin Mohamed Holdings Bhd, L'Oreal Malaysia
Sdn Bhd and United Overseas Bank (M) Bhd.
Its promoters, CG Assets Pte Ltd and Datin
Rahmah, who collectively own 64.1% or 97.6
million shares of AIM, have voluntarily offered
not to sell, transfer or dispose of the 27.85
million shares that are not under moratorium
for six months from its Mesdaq debut.
The Malaysian loyalty programme market was
valued at RM2.05 billion in 2005, according
to Frost & Sullivan, and is expected to
grow at a compound annual growth rate of 9.78%
to RM3.53 billion by 2010.
| Advanced Information Marketing
Bhd |
| IPO details |
|
| Mesdaq Board |
|
| Issue price: 42 sen |
|
| Par value: 10 sen |
|
| Paid-up capital: RM15.5 million |
|
| Estimated free float:27% |
|
| Controlling shareholder(s):Nyang Koon
Seng and Tay Woon Teck are deemed interested
via CG Assets Pte Ltd (43.7%); Datin
Rahmah Kassim (19.2%); OSK Technology
Ventures Sdn Bhd (10.2%) |
|
| Over subcribed by 55.45 times of one
million public subcription shares |
|
| Listing date: April 18 |
|
| |
| EARNING
PROJECTIONS |
|
Year
End
Dec 31 (RM MIL) |
2002 |
2003 |
2004 |
9
months
To Sept 2005 |
2005F |
2006F |
| Pre
Tax Profit |
2.59 |
0.61 |
5.33 |
6.40 |
-- |
-- |
| Net
Profit |
2.02 |
0.43 |
4.55 |
5.58 |
7.5 |
9.0 |
| Net
EPS (sen) based on 155 million |
|
|
|
|
|
|
| share
base |
1.3 |
Neg |
2.94 |
3.6 |
4.84 |
5.8 |
| Dividen
per share (sen) |
-- |
-- |
-- |
-- |
-- |
-- |
| Dividen
Yield (%) |
-- |
-- |
-- |
-- |
-- |
-- |
|
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