IPO Series - Cuckoo International (MAL) Berhad - South Korean Appliance Maker
Cuckoo IPO 讲解
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Figure 1: IPO timetable of Cuckoo International (MAL) Berhad
-Will be listed on the MAIN market
-Will be listed on the MAIN market
Info of IPO $CUCKOO INTERNATIONAL MAL BERHAD (5336.MY)$
Enlarged no. of shares upon listing: 1432.8 million
IPO price: RM1.29
Market capitalization: RM1843.312 million
Estimated funds to raise from Public Issue: RM184.80 million
PE ratio = 21.27x (based on FYE2023)
Enlarged no. of shares upon listing: 1432.8 million
IPO price: RM1.29
Market capitalization: RM1843.312 million
Estimated funds to raise from Public Issue: RM184.80 million
PE ratio = 21.27x (based on FYE2023)
Figure 2: Business model of Cuckoo International (MAL) Berhad
Source: Cuckoo International (MAL) Berhad IPO prospectus
Source: Cuckoo International (MAL) Berhad IPO prospectus
Figure 3: Utilization of proceeds of Cuckoo International (MAL) Berhad
Source: Cuckoo International (MAL) Berhad IPO prospectus
Source: Cuckoo International (MAL) Berhad IPO prospectus
Dividend Policy
-The group targets a payout ratio of at least 20%
-The group targets a payout ratio of at least 20%
Figure 5: Major customers and suppliers of Cuckoo International (MAL) Berhad in FPE2024
Source: Cuckoo International (MAL) Berhad IPO prospectus
Source: Cuckoo International (MAL) Berhad IPO prospectus
Figure 6: Profit & Loss Statement of Cuckoo International (MAL) Berhad
Figure 7: Financial position of Cuckoo International (MAL) Berhah
Figure 8: Revenue by segment
Source: Cuckoo International (MAL) Berhad IPO prospectus
Figure 9: Identified industry players
Source: Cuckoo International (MAL) Berhad IPO prospectus
Financial overview, industry market, and personal opinion
-CUCKOO has demonstrated a fluctuating PAT and PAT margin from FYE2021 to FPE2024, with the highest PAT and PAT margin of RM186.44 million and 16.4% in FYE2021. However, the lowest PAT and PAT margin was recorded in FYE2021, with a value of RM2.06 million and 0.20%.
-CUCKOO has been actively engaging in water purifiers products, with revenue of RM616.665 million (54.1%) in FYE2021, RM486.941 million (46.5%) in FYE2022, RM504.405 million (45.2%) in FYE2023, and RM407.728 million (43.8%) in FPE2024, respectively.
-Based on the financial position of CUCKOO, the trade receivables section from non-current and current assets has the sum of RM1099.345 million in FPE2024 or the occupation of 73.73% of its total assets. Hence, it might be a disadvantage to the financial stability particularly the cash flow of the Group.
-CUCKOO has demonstrated a fluctuating PAT and PAT margin from FYE2021 to FPE2024, with the highest PAT and PAT margin of RM186.44 million and 16.4% in FYE2021. However, the lowest PAT and PAT margin was recorded in FYE2021, with a value of RM2.06 million and 0.20%.
-CUCKOO has been actively engaging in water purifiers products, with revenue of RM616.665 million (54.1%) in FYE2021, RM486.941 million (46.5%) in FYE2022, RM504.405 million (45.2%) in FYE2023, and RM407.728 million (43.8%) in FPE2024, respectively.
-Based on the financial position of CUCKOO, the trade receivables section from non-current and current assets has the sum of RM1099.345 million in FPE2024 or the occupation of 73.73% of its total assets. Hence, it might be a disadvantage to the financial stability particularly the cash flow of the Group.
The details of the IPO prospectus can be accessed through
CKI - INITIAL PUBLIC OFFERING ("IPO") OF UP TO 365,364,000 ORDINARY SHARES IN CUCKOO INTERNATIONAL (MAL) BERHAD ("SHARES") ("IPO SHARES") IN CONJUNCTION WITH THE LISTING OF AND QUOTATION FOR THE ENTIRE ENLARGED TOTAL NUMBER OF 1,432,800,000 SHARES ON THE MAIN MARKET OF BURSA MALAYSIA SECURITIES BERH...
CKI - INITIAL PUBLIC OFFERING ("IPO") OF UP TO 365,364,000 ORDINARY SHARES IN CUCKOO INTERNATIONAL (MAL) BERHAD ("SHARES") ("IPO SHARES") IN CONJUNCTION WITH THE LISTING OF AND QUOTATION FOR THE ENTIRE ENLARGED TOTAL NUMBER OF 1,432,800,000 SHARES ON THE MAIN MARKET OF BURSA MALAYSIA SECURITIES BERH...
By: Jshen Ng
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