a piece on $HARBOUR / 2062 (HARBOUR-LINK GROUP BERHAD) Taken from Hong Leong's Telegram Channel. I normally do not pay close attention to these kind of trading ideas, but it's interesting to see this undercovered company get some coverage. Just sharing below for info:

"HLIB Retail Research – 16 Jan – Bullish Tracker

HARBOUR (2062): Main Market, Transportation & Logistics Services

Consistently profitable since its listing Headquartered in Bintulu (Sarawak) and listed in Jan 2004, HARBOUR is a leading, shipping, marine and integrated logistics services provider, as well as engineering & construction contractors for O&G and power industries locally and regionally. It has been profitable since its listing in 2004.

Likely to benefit from a surge in container freight rates. HARBOUR’s shipping and marine segment is poised to benefit from the global trend of higher container freight rates, the highest since Sep 2022 (source: Trading Economics-Containerized Freight Index). In 6/FY23, the shipping and marine segment contributed ~60% to revenue and 70% to PBT.

Solid balance sheet and undemanding valuations. As at Sep 2023, HARBOUR stayed in a net cash position of RM224m or RM0.57/share. The group is currently trading at a trailing 3.7x P/E (vs peers 10x) and P/BV of 0.62x (peers: 0.72x).

A good proxy to the buoyant Sarawak economy. With the economic activity in Sarawak expected to remain promising moving forward given the government’s ambitious initiatives.

Bullish downtrend line breakout and a strong close above immediate hurdle near 1.21 could spur greater upside towards 1.28-1.35

✅Current price: RM1.18
✅Entry: RM1.13-1.16-1.19
✅Resistance: RM1.21-1.28-1.35
✅Cut loss: RM1.12
✅Latest BVPS: RM1.90 (0.62x P/B)
✅Trailing EPS: 32sen (trailing P/E: 3.7x)
✅FY6/2023 DPS 6 sen (5.1% DY)
✅Risk profile: Low"

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My thought is how did they calculate net cash of RM 224mil? It should be more towards RM 400+mil. They probably didn't take the "investments" as cash-- in reality the RM 175mil in investments are MMF and FD.