syariah too

.....Reach Ten Holdings Bhd (REACHTEN) is preparing for a Main Market listing and stands to gain from the government's digital inclusivity initiatives.

HURRYYYYYY UPPPPP..15 more minutes

Not looking good 🤔🧐

not looking good is good actually...almost sure dapat, huhu

Tried 111 lots and see how.

why why why ...not many ppl buy
last time easily above 10,000
but now hardly 1000 applicants
very susah cari makan....want to earn rm100 pon very very susah

Sure dapat...

But performance???

With current situation.....

Hope for the best...to me it's a calculated risk to apply this ipo.

Agreed...

Take risk... And it's goes either way... Your decisions

If it's spike up... Profit all the way...

#Can REACHTEN's listing break the IPO curse?
#The first Sarawak company to be listed in 15 years? !

REACHTEN Holdings Berhad (REACHTEN, 5332) is about to become the first company from Sarawak to be listed on the main board in 15 years 😮 The company's business is different from the retail telecom operators such as Maxis, CelcomDigi, and UMobile that the public is familiar with. REACHTEN is a communications service provider mainly focusing on business-to-business (B2B) and government (B2G), providing "vertically integrated solutions" from network infrastructure construction to operation.

REACHTEN has two key licenses 👉 NFP (network facility supply) and NSP (network service provider); the former means that the company can build and own its own infrastructure such as optical cables, telecommunications towers, VSAT satellite stations, etc., while the latter allows it to provide network services, broadband and data lines.

With these two licenses, REACHTEN can not only "build its own network" but also "sell its own network" 🤔, thus forming an autonomous, closed-loop business ecosystem.

So far, the company has built 3 communication towers, 33 monopole towers, and up to 1,215 VSAT sites in Sarawak. VSAT is a technology that can connect to the network via satellite without wiring. It is particularly suitable for plantations, inland areas, offshore facilities and other difficult-to-cover areas. For this reason, the company plays an important role in serving remote areas and cooperating with national broadband plans such as JENDELA and SALURAN.

From the perspective of business structure, REACHTEN's revenue is extremely concentrated in VSAT-related satellite communication services. The company's total revenue for the 2023 fiscal year is RM182.3 million ❗️ Of which RM158.5 million (86.95%) comes from satellite-related services, fiber optic communications business accounts for RM20.1 million (11.03%), and telecommunications infrastructure construction and equipment leasing services account for only RM3.7 million (2.02%). B2C business is almost negligible, contributing only RM0.85 million, accounting for less than 0.5%.

From a financial performance perspective, REACHTEN's growth trajectory is very prominent. In the 2021 fiscal year, the company recorded revenue of RM86.1 million and a net profit of RM8.8 million. By the 2022 fiscal year, revenue increased to RM174.3 million and net profit soared to RM43.7 million 🚀 In the 2023 fiscal year, revenue increased slightly to RM182.3 million, and net profit recorded RM51.3 million. Revenue almost doubled in three years, and the growth was very impressive.

In terms of profit quality, REACHTEN's gross profit margin also increased simultaneously 📈 The gross profit margins from 2021 to 2023 were 22.49%, 40.25% and 46.17% respectively, indicating that its service structure is being optimized, which may reflect the high operating efficiency and bargaining space of VSAT business. There is also a considerable performance in terms of net profit margin, which is about 28.1% in fiscal year 2023.

It is worth mentioning that REACHTEN's IPO has also attracted the attention of some investment banks. According to publicly available analysis reports, TA Securities gave REACHTEN a reasonable valuation of RM0.66 per share, RHB Investment Bank gave a valuation of RM0.78, and Malacca Securities (MPlus) gave a target price of RM0.71, all of which are higher than the IPO offering price of RM0.52; all three brokerages value its stable cash flow, government project support, and the profit visibility brought by the high proportion of recurring income model.

Despite this, REACHTEN's business structure still has a clear risk profile. The company is extremely dependent on government projects and subsidies.

Hi. Can you please disclose the source of this article ? Thanks.

OS 1.85x

Fantastic ....NO spill over from placements...all MITI and all other placements have been wallap by hungry punters/traders.....

GOOD sign actually unlike other IPOs , too much spill over from placements to this Public Balotting ...oso meaning their placements are under subscribed

from this balloting table - show PROMISING prospect for this CASH RICH REACH TEN IPO

RHB Investment Research Reports

Reach Ten Holdings - Sarawak’s Up And Coming Infrastructure Play

FV 78 SEN ( 50 % UP ).... 💪
rhbinvest

Publish date: Fri, 18 Apr 2025, 10:18 AM

MYR0.78 FV

based on 6.5x FY26 EV/EBITDA. Reach Ten Holdings (R10) is raising MYR104m from its IPO, mainly for the expansion of its fibre optic and communications network infrastructure, construction of telco towers, and enhancement of its satellite-based communications facilities in Sarawak. Our valuation is in line with comparable peers and implies a forward P/E of 13x. We believe the valuation is supported by R10's exposure to Sarawak's secular growth, attractive ROEs, net cash balance sheet, and high recurring sales.

This post has been edited by IPO ADDICT: Apr 22 2025, 01:35 PM

Good luck everyone

1.85x oversubscribed rates yo 😲

The company said in a statement today that it received a total of 2,706 applications for 142.65 million new shares, exceeding the 50 million shares allocated for public subscription.



"In addition, its placement agent has confirmed that 225 million shares made available for application by way of private placement to bumiputera investors approved by the Ministry of Investment Trade and Industry (MITI) and selected investors have been fully placed out,” it said.

WOWWW.....great

hmmm...the other IPO - WEST RIVER oso balloting today

psssttt...heard ?...

hmmm apply REACHTEN 200,100...got merely 80K liao only

This post has been edited by IPO ADDICT: Apr 22 2025, 02:21 PM

0.52 sen REACH TEN = 0.10

https://www.tiih.com.my/content/press_relea...ressRelease.pdf

https://www.tiih.com.my/content/press_relea...isAllotment.pdf

This post has been edited by kb2005: Apr 22 2025, 05:26 PM

Tricor Investor & Issuing House Services Sdn Bhd wishes to announce that the 50,000,000 Issue Shares made available for application by the Malaysian public have been oversubscribed. A total of 2,706 applications for 142,652,200 Issue Shares with a value of RM74,179,144.00 were received from the Malaysian public, which represents an overall oversubscription rate of 1.85 times. For the Bumiputera portion, a total of 945 applications for 52,794,900 Issue Shares were received, which represents an oversubscription rate of 1.11 times. For the public portion, a total of 1,761 applications for 89,857,300 Issue Shares were received, which represents an oversubscription rate of 2.59 times. Meanwhile, 25,000,000 Issue Shares made available for application by the eligible directors, employees and persons who have contributed to the success of the Group have also been fully subscribed. The Placement Agent has confirmed that 125,000,000 Issue Shares by way of private placement to selected Bumiputera investors approved by the MITI and 100,000,000 Existing Shares by way of private placement to selected investors, have been fully placed out.

Almost everyone get a partial piece of cake

Really need to pray hard during opening...

Green opening, not red @ below IPO price 😁