Sealink International Berhad

Titan Trading Notes For Friday [22/11/2024]:

$KLCI retraced back towards the 1588 points region with an overall mixed market sentiment today as we still saw over 670+ counters closing red for the day today. Daily trading volume however was able to see a jump back towards the 3.4 billion mark, which is a decent sign here.

Main stocks that showed strong buying momentum would be the likes of MYEG, CEB, HAWK, SEALINK, SCABLE, YNHPROP, PCHEM, TANCO, SIMEPROP, SUNWAY, MRDIY, and YEWLEE. All of which were able to sustain their rallies throughout the day on the top volumes list.

$SEALINK / 5145 (SEALINK INTERNATIONAL BERHAD) since reporting good profit from its latest QR, was able to breakout strong from its RM 0.30 main downtrend resistance levels and rallied all the way towards the RM 0.32+ regions with huge volume and buying momentum.

So far looking quite strong here and as long as able to sustain above its RM 0.30+ immediate support levels, could start trending back up towards the RM 0.33 - RM 0.35+ major resistance levels soon in the coming weeks.

Will be monitoring SEALINK closely as it looks good on both fundamental and technical aspects.

$YNHPROP / 3158 (YNH PROPERTY BERHAD) on the other hand since retracing back towards its RM 0.43+ major support levels, had been able to recover quite well over the past 2 weeks and broke out all the way towards the RM 0.54 regions with huge volume and buying momentum today.

So far looking quite strong here and as long as able to sustain above its RM 0.52 immediate support, could breakout further towards its RM 0.60+ regions soon in the coming weeks for a further rally.

Will be monitoring YNHPROP closely here as something big could be brewing here.

$PLYTEC / 0289 (PLYTEC HOLDING BERHAD) since retracing all the way back towards the RM 0.34+ major support levels from its RM 0.39 all time high levels, had been able to recover and rebounded back strong towards the RM 0.375 regions with good volume and buying momentum today.

Overall looks like forming a major cup and handle pattern here and with a solid QR that was released this evening (net profit of over RM 5 million), we could see it breakout from its RM 0.39 all time high levels for a further breakout soon.

Will be monitoring PLYTEC closely.

Titan Trading Notes For Monday [9/9/2024]:

$KLCI retraced back towards the 1653 points region with an overall bearish market sentiment during last Friday as we still saw over 660 counters closing red for the day. Daily trading volume settled low around the 2.3 billion mark as we closed for the week.

Main stocks that showed strong buying momentum would be the likes of HAWK, CEB, NOTION, MRCB, VTC, BAHVEST, DNEX, IHH, BPURI, JCY, UWC, and INARI. All of which were able to sustain their rallies throughout the day despite the weak market sentiment.

$SKHAWK / 03049 (STEEL HAWK BERHAD) despite the weak market sentiment, was able to breakout strong all the way towards the RM 0.41 regions, forming once again a new all time high here with huge volume and buying momentum.

Although it saw some selling pressure which made it close around the RM 0.39 regions, it's still looking quite bullish here and as long as able to sustain above the RM 0.385+ immediate support, could continue on further here.

Will be monitoring HAWK closely as it's one of the stronger ones recently.

$VTC / 0319 (VETECE HOLDINGS BERHAD) on the other hand although retraced back towards the RM 0.525+ main support levels, had been able to hold quite well above it over the past week and rebounded back towards the RM 0.55 regions with good volume.

For now seems to have formed its higher low regions here already and if able to sustain, could breakout back towards the RM 0.575 - RM 0.60++ regions once more for an uptrend continuation pattern.

Will be monitoring VTC closely here as the IPO theme remains strongly in play.

$SEALINK / 5145 (SEALINK INTERNATIONAL BERHAD) despite the weak market sentiment and closing red around the RM 0.35 regions, is actually showing signs of a potential higher low being formed here during this retracement phase.

So far still showing signs of an uptrend as long as it does not break below the RM 0.32+ main support levels on the daily chart. If able to consolidate its strength here, could see a wave up towards the RM 0.40++ regions in the coming weeks when it recovers.

Will be monitoring SEALINK closely here.

Titan Trading Notes For Friday [6/9/2024]:

$KLSE-KLCI retraced once more back towards the 1664 points region with an overall negative market sentiment as we saw almost 800 counters closing red for the day. Daily trading volume settled around the 3.2 billion mark, mainly dominated by selling activities.

Unfortunately, most sectors are bearish now. The only bullish sectors are only Finance and Plantation. The rest, especially the tech sector had been hammered heavily recently. Under such circumstances, I would prefer not to trade too much personally. In fact, I've only been monitoring mostly over the past few weeks as I believe this bearish sentiment may continue for the coming few weeks at least.

Main stocks that showed strong buying momentum would be the likes of HAWK, MYEG, BAHVEST, CIMB, JSB, AMBANK, and TOPGLOV. All of which were able to sustain their rallies throughout the day on the top volumes list.

$MYEG / 0138 (MY E.G. SERVICES BERHAD) since taking a hit and retracing all the way back towards the RM 0.80+ major support levels during early August, was able to rebound and hold well above the RM 0.89+ main support levels over the past few weeks.

Today, it was able to rebound back towards the RM 0.915+ regions with good volume and buying momentum despite the weak market sentiment. For now looking quite ripe for a potential breakout from its RM 0.935+ major resistance levels here.

If able to sustain, could breakout from this region and start trending back up once more. Will be monitoring MYEG closely here.

$SEALINK / 5145 (SEALINK INTERNATIONAL BERHAD) since its earlier breakout towards the RM 0.375+ regions, had been retracing over the past few days back towards its RM 0.34+ main uptrend support levels on the daily chart, and so far seems to be able to hold well.

Today, it was able to rebound back towards the RM 0.355 regions despite the weak market sentiment. Seems to be forming its higher low region here already and if able to sustain, could see it start trending up towards the RM 0.385 - RM 0.40+ regions soon.

Will be monitoring SEALINK closely

As for the tech stocks that dumped heavily, namely $UWC / 5292 (UWC BERHAD) and $KLSE-D&O , it looks very bloody and I would stay away from such stocks for now. At most, we'll be looking at a potential technical rebound after being oversold.

In a span of less than 2 weeks, UWC lost over 30% of its market share cap and head back all the way back towards the RM 1.67+ regions today. For now still not showing much hope yet and trend wise, doesn't look too good. Have to be cautious and prepared for other tech stocks to face similar selling pressure.

Titan Weekend Chart Reviews

$SEALINK / 5145 (SEALINK INTERNATIONAL BERHAD)

Despite taking quite a huge hit over the past 1-2 weeks, had been able to hold quite well above the RM 0.32+ major support levels.

Lately able to rebound back towards the RM 0.37+ regions with good volume and buying momentum, suggesting that the overall uptrend is still in tact here.

Support: RM 0.35, RM 0.32 areas
Resistance: RM 0.375, RM 0.39, RM 0.40, RM 0.425 areas

Titan Trading Notes For Monday [26/8/2024]:

$KLSE-KLCI retraced back towards the 1635 points region during last Friday with an overall negative market sentiment as we still saw over 880 counters closing red for the day along with it. Daily trading volume settled around the 3.5 billion mark, unfortunately dominated with selling activities.

Main stocks that showed strong buying momentum would be the likes of ELRIDGE, ARMADA, SEALINK, and YINSON. All of which were able to sustain their rallies throughout the day on the top volumes list despite the negative market sentiment.

$SEALINK / 5145 (SEALINK INTERNATIONAL BERHAD) since breaking out towards the RM 0.425 regions, had been suffering from profit taking activities, retracing back towards the RM 0.32+ major support levels over the past week.

That said, was able to hold above this region and rebound back towards the RM 0.345+ regions with good volume and buying momentum. For now looking quite strong here and if able to form a higher low region, could continue on to trend up towards the RM 0.40++ regions soon once more.

Will be monitoring SEALINK closely here as the uptrend seems to be quite strong.

$YINSON / 7293 (YINSON HOLDINGS BERHAD) since breaking out from its RM 2.40+ major resistance levels earlier this month, was able to sustain its buying momentum and breakout back towards the RM 2.80+ regions during last Friday with good volume.

For now looking quite strong here and as long as able to sustain above its RM 2.65+ immediate support levels on the hourly charts, could continue on towards and beyond the RM 2.88+ major resistance levels soon for an uptrend continuation pattern.

Will be monitoring YINSON closely here as seems to be starting a brand new uptrend here.

$NOTION / 0083 (NOTION VTEC BERHAD) unfortunately during last Friday, took a sudden and huge hit, breaking below its RM 1.37+ main support levels and retraced all the way towards the RM 0.975 regions, almost hitting its limit down price despite having good QR results.

Although it was able to rebound back towards the RM 1.14 regions, it's still not looking too good in the short term here. Not really sure what happened but will have to monitor cautiously.

Titan Trading Notes For Monday [19/8/2024]:

$KLSE-KLCI resumed its upward trajectory during last Friday, breaking out all the way towards the 1623 points region with an overall positive market sentiment. Daily trading volume however, remained low around the 3.2 billion mark.

Main stocks that showed strong buying momentum would be the likes of PESTECH, SIMEPROP, TOPGLOV, ARMADA, MYEG, UNIQUE, MIKROMB, TANCO, BCB, SNS, NOVAMSC, SEALINK, MUIPROP, JCY, CIMB, WCT, and PERDANA. All of which were able to sustain their rallies throughout the day on the top volumes list.

$SIMEPROP / 5288 (SIME DARBY PROPERTY BERHAD) following its huge sell down during last Thursday, retracing all the way back towards the RM 1.30+ main support levels, was able to rebound quite well towards the RM 1.40+ regions during Friday with good volume and buying momentum.

This quick recovery is a pretty good sign compared to its peer - SPSETIA that barely was able to rebound the following day. For now as long as able to sustain this kind of buying momentum, could breakout towards and beyond the RM 1.50+ regions once more soon.

Will be monitoring SIMEPROP closely as the uptrend seems to still be quite strong here.

$UNIQUE / 0257 (UNIQUE FIRE HOLDINGS BERHAD) despite retracing back towards the RM 0.405+ major support levels during Thursday, was able to hold quite well and broke out strong all the way towards the RM 0.455 regions, forming a new high again.

For now, still looking very strong here and as long as able to sustain above its RM 0.42 immediate support levels, could continue on towards and beyond the RM 0.455+ regions for an uptrend continuation pattern.

UNIQUE looking very strong here and will be monitoring closely. Seems to be on the verge of a possible strong parabolic rally.

$SEALINK / 5145 (SEALINK INTERNATIONAL BERHAD) since breaking out towards the RM 0.415 regions, had been retracing and consolidating over the past week, heading back towards its RM 0.35+ main support levels on the daily chart.

During last Friday, was able to breakout strong back towards the RM 0.405 regions with good volume and buying momentum. So far looking quite strong for a bullish continuation pattern towards and beyond the RM0.415 local high levels in the coming week.

Will be monitoring SEALINK closely

Titan Weekend Chart Reviews

$SEALINK / 5145 (SEALINK INTERNATIONAL BERHAD)

Huge breakout from its RM 0.33+ immediate downtrend resistance here with good volume, breaking out all the way towards the RM 0.40 regions here.

For now still looking quite strong and as long as able to sustain above its RM 0.345+ immediate support, could continue on towards and beyond the RM 0.40+ regions soon.

Support: RM 0.37, RM 0.35 areas
Resistance: RM 0.40, RM 0.42, RM 0.435, RM 0.45 areas

Titan Trading Notes For Friday [9/8/2024]:

$KLSE-KLCI retraced slightly back towards the 1590 points region with an overall mixed market sentiment as we still saw over 650 counters closing red for the day today. Daily trading volume settled around the 4.3 billion mark, which is still pretty decent for now.

Main stocks that showed strong buying momentum would be the likes of CEB, SEALINK, KUCINGKO, DATAPRP, KGW, THETA, and SENDAI,. All of which were able to sustain their rallies throughout the day on the top volumes list.

$CEB / 5311 (CAPE EMS BERHAD) since forming its dip region around the RM 0.35 regions yesterday, was able to resume its rebound today, breaking out all the way towards the RM 0.515 regions slightly after lunch with huge volume and buying momentum.

For now still facing strong selling pressure around the RM 0.50+ regions here but as long as able to sustain above its RM 0.465+ immediate support levels, could continue on towards and beyond the RM 0.50 - RM 0.51+ major resistance levels soon for a further rebound.

Will continue to monitor CEB closely here as I believe most of the selling from the CEO had been done already.

$SEALINK / 5145 (SEALINK INTERNATIONAL BERHAD) despite retracing all the way back towards the RM 0.27+ major support levels earlier this week, was able to hold strong and broke out all the way towards the RM 0.40 regions today with huge volume and buying momentum.

Overall looking very bullish here and as long as able to sustain above its RM 0.345+ immediate support levels on the daily chart, looks like may continue on towards and beyond the RM 0.40++ zones in the coming weeks.

Will be monitoring SEALINK closely as seems to be on a healthy uptrend here.

GOHUB since breaking out towards the RM 1.38 all time high levels, had been retracing over the past week here all the way back towards the RM 1+ major support levels, forming a solid support region there.

Today, it was able to rebound back strongly towards the RM 1.20+ regions with good volume and buying momentum. For now looking quite good here and as long as able to sustain above its RM 1.10+ immediate support, could continue on to trend up towards the RM 1.20 - RM 1.30+ regions soon.

Will be monitoring GOHUB closely here.

$SEALINK / 5145 (SEALINK INTERNATIONAL BERHAD)
Research by HLIB
Non Rated - TP RM0.52

"Staging a huge comeback"

Sealink owns 19 active OSVs that are mainly chartered to the O&G industry, and provides shipbuilding and repair services. FY23 blended fleet utilisation was about 60% in FY23 and we believe it will trend upward to over 68% in FY24, driven by the robust offshore maintenance activities amidst an acute shortage of Malaysian-flagged OSVs. Sealink is aiming to secure a few vessels to be chartered under the POV program. Nearly all vessels are currently chartered under spot rates, until the POV awards are officially concluded. We expect Sealink to return to black in FY24f, backed by higher utilisation rate at 68% and blended DCR of RM30k/day. We value Sealink at RM0.52 based on 10x mid-FY25 EPS, a discount to 14x PE that we typically ascribe to OGSE players. We view Sealink as a laggard in the OSV space due to its undemanding valuation amids an imminent earnings upcycle. Sealink is currently trading at 7x FY24f earnings.

Analyst:
Brian Chin
brianchy@hlib.hongleong.com.my

DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS) : Dealings Outside Closed Period

Changes in Director's Interest (Section 219 of CA 2016) - MR YONG KIAM SAM

Changes in Sub. S-hldr's Int (Section 138 of CA 2016) - MR YONG KIAM SAM

Changes in Sub. S-hldr's Int (Section 138 of CA 2016) - MR YONG FOH CHOI

Quarterly rpt on consolidated results for the financial period ended 31/03/2024

General Meetings: Outcome of Meeting

$SYSCORP / 5173 (SHIN YANG SHIPPING CORPORATION BERHAD) / SYGROUP - Another Marine Logistics Company Finally Experiencing Tailwinds after a long down cycle.

By now, I hope everyone should be familiar with the sort of dynamics of the marine logistics industry from all the discussions we've already had. Another company I had been reading about recently is Shin Yang Group, who shares some overlaps with $HARBOUR / 2062 (HARBOUR-LINK GROUP BERHAD).

This is written by terence775 purely for education purpose only, and you should do your due diligence before making any investment decisions.

Briefly, their business segments are:

1) Shipping Segment, which includes container haulage and dry and liquid bulk shipping which operate in SEA as well as internationally including East Asia, and Far East regions.

2) Ship building and repair, which as the name implies, is involved in newbuilds as well as repairs, modifications, etc. of ships. To this end they have 3 shipbuilding yards in Miri, Bintulu, and Kuala Baram. They also have floating dock facilities for more niche, specialized repairs.

3) Land Logistics and transportation, warehousing, especially with their newly acquired subsidiary Mewah Exim.

4) Gas division via their acquisition of Piasau Gas, which is involved in the manufacturing and distribution of industrial gases including air separation,

Items 1, 2 and 3 are their core business, which accounts for the bulk of their revenue. Piasau gas was acquired in 2022 if I remember correctly, and while small, seems to be contributing well considering the price they paid for it.

I think the company is now in an interesting position as they are experiencing tailwinds in all their segments and could start to report improving numbers in the coming months. So far, it seems like the market is unawares yet.

-The shipping catalyst have been discussed in depth already for a long time. You can read back on the HARBOUR stream to read all the back and forth over the past year or more. A nice update is that SYGROUP says the cargo volumes have stabilized with higher exports from Samalaju and KKIP. (This can tie in to pmetal, pmbtech, and omh as well)

-The ship building segment had been in a doldrums for years, but is recently making a comeback. This industry update was initially highlighted by @RHBTradeSmartMY 's report on $TAS / 5149 (TAS OFFSHORE BERHAD) and subsequently @Ryunanda had highlighted it again. Recently, there is Petronas's new phase of capex spending, which aims to have more newbuilds of OSVs to replace their old ones-- this is expected to start end of the year, which aims to construct 100 vessels over 4 years. Apparently, each OSV is estimated to cost between RM 70-100mil (According to Dato Richard), depending on the scope and complexity, so you can do the maths. Other companies in this space also include $SEALINK / 5145 (SEALINK INTERNATIONAL BERHAD) , however as always the extent of who benefits as well as the risk involved in each must be studied by yourselves further.

- Ship repair segment is also seeing good demand again, with their floating Docks in Miri hitting 100% utilizations and the others are around 70%. As per the AGM, the management explained that their shipbuilding has around RM 175mil outstanding contract value, while the ship repair contract has RM 89mil outstanding contract value over the next 2 years, whilst they are in negotiation and discussions with potential customers from the O&G and resources sectors.

- Land logistics is also picking up along with the Sarawak economy (did I mention SYGROUP is mainly based in Sarawak as well?). And I think the management had good foresight for the acquisition of majority stake in Mewah Exim around middle of 2023, which mainly operates in Johor.

- Industrial gases should also continue to remain resilient, and is affected by the industrial activity so more activity = more business and vice versa.

I attach a few excerpts from news, media, and other documents which make my up sources on this.

Some risks I can think of:
- As with most logistics companies, their business follows along with economic activity.
- Geopolitical tensions could negatively impact them.
- Somehow, their shipping segment had still declined last qtr, even though Harbour's had already rebounded. I am still trying to understand why.
- General execution risk which is relatively higher for marine sectors.

Good luck!

General Meetings: Notice of Meeting

Annual Report & CG Report - 2023

Quarterly rpt on consolidated results for the financial period ended 31/12/2023

$TANCO / 2429 (TANCO HOLDINGS BERHAD) $SEALINK / 5145 (SEALINK INTERNATIONAL BERHAD) $PDZ / 6254 (PDZ HOLDINGS BHD) $FAST / 0084 (FAST ENERGY HOLDING BERHAD)

General Notes For Friday [5/1/2024]:

$KLSE-KLCI had a huge breakout today back towards the 1477 points region with an overall bullish sentiment here as we hit a yearly high in terms of daily trading volume, achieving a staggering 6.37 billion today! This is an extremely good sign for a prosperous year ahead after more than 2 years of dry market.

Main stocks that showed strong buying momentum today would be the likes of MINETEC, EKOVEST, ASDION, SEALINK, IWCITY, YTLPOWR, YTL, YANHILL, LEFORM, SIMEPROP, SPSETIA, PELIKAN, BENALEC, and SUNWAY. All of which were able to sustain their rallies throughout the day on the top volumes list.

$ASDION / 0068 (ASDION BERHAD) was definitely one of the best performers today as it broke out strong from its RM 0.115 major resistance levels and rallied all the way towards the RM 0.145 regions with huge volume on the daily chart today.

For now looking strong here and not showing any sign of weakness yet. As long as able to sustain above its RM 0.115+ immediate support levels, could continue on towards the RM 0.165 - RM 0.18+ regions soon for an uptrend continuation pattern.

Will be monitoring ASDION closely here.

$SEALINK / 5145 (SEALINK INTERNATIONAL BERHAD) on the other hand also performed quite well after retracing and consolidating over the past few months with RM 0.17+ as the main support regions on the daily chart since its earlier breakout towards the RM 0.26 levels during October 2023.

Today, it had a huge breakout from its RM 0.20+ immediate downtrend resistance with huge volume, breaking out all the way towards the RM 0.22+ regions and not showing any sign of weaknesses yet.

As long as able to sustain, could continue on towards the RM 0.25 - RM 0.26+ regions for an uptrend continuation pattern soon. Will be monitoring SEALINK closely too.

$AEMULUS / 0181 (AEMULUS HOLDINGS BERHAD) since breaking out from its RM 0.30 main downtrend resistance over the past month, had been consolidating and holding quite well and today, was able to breakout strong towards the RM 0.33+ regions with good volume and buying momentum.

So far still looking very strong here for an uptrend continuation pattern as long as able to hold above its RM 0.32 immediate support regions, could breakout back towards and beyond the RM 0.34 - RM 0.35+ major resistance levels soon.

@portoftheyear
$MCEHLDG / 7004 (MCE HOLDINGS BERHAD) 20%

$MHB / 5186 (MALAYSIA MARINE AND HEAVY ENGINEERING HOLDINGS BERHAD) 20%

$SEALINK / 5145 (SEALINK INTERNATIONAL BERHAD) 20%

$AZRB / 7078 (AHMAD ZAKI RESOURCES BERHAD) 20%

$MYEG / 0138 (MY E.G. SERVICES BERHAD) 20%

Quarterly rpt on consolidated results for the financial period ended 30/09/2023

KUCHING: Sealink International Bhd is upbeat about the prospects of its offshore supply vessels (OSVs) as charter rates improve in a tight vessel market.

General Meetings: Outcome of Meeting

Quarterly rpt on consolidated results for the financial period ended 31/03/2023

DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS) : Intention to Deal During Closed Period

General Meetings: Notice of Meeting

Annual Report & CG Report - 2022

DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS) : Dealings Outside Closed Period