Prosonic was established in 1989 at Port Klang. One of the major manufacturer of high quality speaker systems in Malaysia. A Public listed Company in Bursa Saham Kuala Lumpur on 17 June 1994. We are located in different location with 2,908,170 square feet in total of land area.
Prosonic is principally involved of producing variety of products which include Home Theatre Audio Systems, Satellite Speaker, High-End Audio Systems, AV Racks, WI-FI Internet Radio, WI-FI Internet Adaptor, Outdoor Speaker, Bluetooth Speaker, Receptor Radio, CD Radio & Car Speaker Series for our Multi National customers brand names such as SONY, JVC, SHARP, BOSTON, AE, PANASONIC & KENWOOD, etc.
We provide coordinated process services ranging from design, engineering till finished goods from our eight companies having core business in manufacturing of electrical and electronic components, as well as complementary activities in sales and service support such as following:
1) Formosa Prosonic Industries Bhd, Port Klang, Malaysia
2) Formosa Prosonic Industries Bhd, Sg. Petani, Malaysia
3) Formosa Prosonic Manufacturing Sdn Bhd, Port Klang, Malaysia
4) Asia Pacific Card & System Sdn Bhd, Port Klang, Malaysia
5) Printed Circuit Board, Port Klang, Malaysia
6) Acoustic Energy Ltd, Cirencester, United Kingdom
7) FP Group Limited, Dong Guan, China
8) Formosa Prosonic Mexico, Tijuana, Mexico
2) Formosa Prosonic Industries Bhd, Sg. Petani, Malaysia
3) Formosa Prosonic Manufacturing Sdn Bhd, Port Klang, Malaysia
4) Asia Pacific Card & System Sdn Bhd, Port Klang, Malaysia
5) Printed Circuit Board, Port Klang, Malaysia
6) Acoustic Energy Ltd, Cirencester, United Kingdom
7) FP Group Limited, Dong Guan, China
8) Formosa Prosonic Mexico, Tijuana, Mexico
Prosonic is constantly striving for expansion and greater automation in its manufacturing processes in order to produce more technically-sophisticated and technologically advanced components, which will allow customers to place a premium on their finished products.
Quality is our spirit! Prosonic has a highly requirements and stringent quality control to ensure the product is produced with best quality for all our Multi National customers. Our products are being manufactured under internal advanced quality system and requirement to meet international MNC's requirements and standards.
Prosonic has a group of experienced engineering team with huge engineering capacity and well equipped facilities. With this capability, it enables Prosonic to step further for Development Team (R&D) to develop new product continuously.As a market leader, Prosonic knows that a good speaker system is not just about a speaker box that produces reasonably good sound, but is also a continuous search for new technology and innovative design.
We are also Accredited by International Quality Standard and make us stronger to compete in the market and build up confident with our customers.
In the past years, we have been awarded by major customers in recognition of Prosonic effort in quality, services, delivery, product reliability and others.
Prosonic proven expertise in the speaker system technology, it is often we consulted to customers on every stage of development, from design, materials up to finished goods.
Backed up by the Company's commitment to stringent quality control, its business thrust continues to be on customer satisfaction, product excellent and research & development.
Quality is our spirit! Prosonic has a highly requirements and stringent quality control to ensure the product is produced with best quality for all our Multi National customers. Our products are being manufactured under internal advanced quality system and requirement to meet international MNC's requirements and standards.
Prosonic has a group of experienced engineering team with huge engineering capacity and well equipped facilities. With this capability, it enables Prosonic to step further for Development Team (R&D) to develop new product continuously.As a market leader, Prosonic knows that a good speaker system is not just about a speaker box that produces reasonably good sound, but is also a continuous search for new technology and innovative design.
We are also Accredited by International Quality Standard and make us stronger to compete in the market and build up confident with our customers.
In the past years, we have been awarded by major customers in recognition of Prosonic effort in quality, services, delivery, product reliability and others.
Prosonic proven expertise in the speaker system technology, it is often we consulted to customers on every stage of development, from design, materials up to finished goods.
Backed up by the Company's commitment to stringent quality control, its business thrust continues to be on customer satisfaction, product excellent and research & development.
FPI Client List,
FPI performance,
From the above, we can see that the company's earning is recovering and getting stronger in the latest two quarter which is eps of 3.7sen and 3.6sen in Q3 and Q4.
The company also just ex a 7sen dividend on 29 Mar 2016 which payment date on 15 Apr 2016. This is the highest dividend paid in the past few years.
From the balance sheet above, the company show very strong cash in hand and 0 short term loans. Total 148mil on hand which is equal to around Rm0.60 net cash per share on hand based on 50sen par value.
In the latest quarterly report posted on 26 Feb 2016, the company total cash is 158mil which is equal to Rm0.639 net cash in hand every shares.
Charting,
The company listed since 1994, highest price hit at Rm1.89 in year 1996 and coming down all the way with trending lower line. This is the second times break above the downtrend line with resistance at Rm1.15. With the current performance and strong balance sheet, can the company come back visit their glory day?
Today the share price have been sell down to lowest 85sen and RSI show is oversold below 10%. I believe is a good entry point for medium term trading while the fundamental of the company getting stronger.
Summary,
Current price Rm0.85
Dividend yield around 8.23%
PE: 9.176
Net cash per share : Rm0.639
Short term target price: Rm1.00
Medium-Long term target price: Rm1.89
Happy Trading!
Regards,
Nick Loke
