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Uchi Technologies Berhad (Uchitec-7100) was incorporated on 18th February 1998. It was converted to a public limited company and transferred to the Main Board of the Bursa Malaysia on 9th May, 2002.
The main activities of Uchi Technologies are principally involved in Original Design Manufacturing (ODM), specializing in the design of electronic control systems.
Among the largest shareholders are Tabung Haji, EPF & PNB.
Uchitec is known to have solid management and they pay very attractive dividend to shareholders. For the past 6 years except for 2009, the dividend yield for Uchitec stays above 6% which is about 2 times of the current fixed deposit rate.
Unfortunately, there is not many coverage by research house on Uchitec for the latest Fair Value/Target Price. The last done was from AMMB in November 2010 whose make a neutral recommendation with a target price of RM1.40. Technically, CIMB Research make a sell recommendation recently at the current price of RM1.40.
The table below is the financial summary of Uchitec for the past 6 years.
| 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | |
|---|---|---|---|---|---|---|
| Revenue (RM’000) | 131,884 | 153,197 | 156,875 | 122,898 | 83,139 | 100,883 |
| Net Profit (RM’000) | 73,578 | 83,888 | 78,228 | 58,748 | 26,953 | 52,578 |
| PE Ratio (x) | 15.02 | 13.88 | 12.83 | 5.82 | 18.44 | 9.58 |
| EPS (sen) | 19.97 | 22.47 | 20.89 | 15.81 | 7.27 | 14.18 |
| Dividend (sen) | 20 | 27 | 20 | 12 | 6 | 12 |
| Dividend Yield (%) * | 6.67 | 8.65 | 7.46 | 13.04 | 4.48 | 9.23 |
*Based on price on last trading day of the year
On 25th February 2011, Uchitec declare 7 sen final dividend tax exempted. The entitlement date is still undecided. At last trading price of RM1.40, the dividend yield for whole 2010 is about 8.57%.
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{ 2 comments… read them below or add one }
Any idea what happen to Uchitec? The share price drops everyday. Do you know what is the entry price?
Dunston, maybe the main reason is EPF disposing its shares of about 2 million units starting 17th November. 9 months profit also drop 9%