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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Syqic | SYQ | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 15.50 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 15.50 | 15.50 |
| Top Posts |
|---|
Posted at 04/9/2018 15:29 by masurenguy What dream ? More of a nightmare for those still invested in SYQ ! |
Posted at 28/6/2016 13:16 by masurenguy "you must be delighted you are 'out' and the rest of us 'remain'"That says more about you than it does about me. I'm pleased to be out but I don't take "delight" in the misfortunes of other genuine investors because we have all had bad experiences at one time or another in the past. I only make an exception for the mindless cheerleader or stockbashing trolls who infest threads and are usually just sad and lonely people seeking attention. I've provided my interpretation of events here based upon facts and a rational viewpoint and I've also clearly explained why I exited SYQ in April. Everyone must make their own judgement calls in every situation and an informed debate assists in this process. Where SYQ is concerned we will all have to wait a little longer for the denouement but if they go into administration, or if Bidco buys them up for peanuts, I will feel sympathy for those remaining who lost here. After all I was a past investor and had originally seen potential here, exiting only when I perceived that they had run out of road (and cash). |
Posted at 21/6/2016 08:51 by masurenguy chrisdgb - 21 Jun'16 - 999: I cannot understand why you continue to offer such clueless speculationIf my posts are "just clueless speculation" then why don't you provide some "clued up insight" coupled with an intelligent contrarian view to challenge the facts and subsequent interpretation in my posts #934, 945, 953 and 985. So far you have completely failed to do this - instead you just attack me rather than address the actual data and issues that relate to the company. I comment upon the facts and give my interpretation on the information published by the company. Your posts are just meaningless remarks, often containing nonsensical claims like those in #989 below, and they also ignore reality. You're just a cheerleader for SYQ rather than a discerning investor! chrisdgb - 9 Jun'16 - 989: Remember from the last trading update that they are ahead of expectations.....I also thought the view was that one of the debtors had actually improved their payments in the last year, hence the feeling no provision was required............ chrisdgb - 8 Jun'16 - 988: Hadn't noticed but we made it to the Daily Mail market report today, highlighting that 1 year ago the shares were 47.6p......... chrisdgb - 7 Jun'16 - 984: The company remain in bid talks, what a crazy share price reaction....!! |
Posted at 21/4/2016 17:24 by androyd Can anyone tell me why SYQ have been unable to raise working capital through a placing? |
Posted at 21/4/2016 08:55 by masurenguy Just a small part of my portfolio but I took advantage of the spike at the open and sold my stake. It's a business with good potential but the trading update demonstrated that the increasing debtor position is deteriorating and not improving as expected. That is the key factor as far as I am concerned since the previously agreed repayment/collection schedule is obviously not being maintained.Since the two prime customers are overseas companies who account for over 90% of the business, there is little that they can do to recover receivables if they are delayed or not paid. These two debtors alone account for the annual sales of the whole business - circa £11.7m - and total debtors - circa £14.1m - account for 120% of the annual turnover. The business is viable if it can significantly write down, or even write off, the legacy debts but the existing company would only be in a position to do that if they could raise significant new working capital from existing, or new, investors. I doubt that the existing entity could do that so it raises questions about the future financial viability of the existing business especially if these receivables are going to be subject to bad debt provisions in this years accounts. Even though an investor like Utilico have more than doubled their stake in SYQ over the past 12 months, this is still a very small part of their portfolio so a write-down on their investment will not be such a big deal for them. A potential CEO led private equity buyout could potentially buy the business at a bargain price on the basis that even a low price would be better than the likelihood of virtually nothing from any potential insolvency and the price paid would effectively constitute a debtor write-down on the legacy business that Bidco would acquire. They could then focus upon exploiting the existing potential via Fortumo and other payment aggregators to overcome the receivables issue, which is blighting the current business. There are far too many financial risks going forward where the present quoted entity is concerned and if some sort of discounted deal is not concluded with the existing potential bidder then a possible insolvency or a third party acquisition at a distressed price could eventually follow, unless they can suddenly obtain a payment of several million from their existing debtors. The history here does not suggest that this is a likely proposition. Good luck to those who continue to hold. |
Posted at 19/4/2016 07:49 by masurenguy Worth noting that Utilico (UEM), a closed-end investment fund manager listed on the LSE, increased their shareholding in SYQ from 1.0m (3.7%) to 2.44m (9.1%) between July and December last year,making them the largest external shareholder. |
Posted at 18/4/2016 17:43 by masurenguy The two customers "who pay so slowly" are Indonesian Telecoms and I can't imagine either of them being interested in acquiring a streaming content supplier like SYQ. If there is a predator who has made an approach then it is more likely to be another Asian company where there is some synergy or possibly even PTNP the Indonesian consolidator franchised by SYQ. The FY results are not due until June so it is all just speculative at the moment. We will just have to wait for a company announcement to explain the reason for the temporary share suspension. |
Posted at 13/10/2015 09:24 by aishah I don’t know when, but SyQic shares could sharply re-rateBy Richard Gill, CFA October 12, 2015, 16:12 PM Europe/London Driven by increased penetration of broadband, along with higher adoption of smartphones and tablets, it is no secret that the market for online video streaming is growing strongly. Market leader Netflix for example grew its global subscriber numbers from 20 million in 2010 to 65.55 million by July 2015. For the third quarter of this year analysts are looking for the firm to post revenues of around $1.75 billion, a figure which beats the $1.67 billion posted for the whole of 2009. A study from Deloitte released earlier this year found that streaming services are used by over 42% of the US population and that consumers are now more likely to turn to an internet service than switch on the TV. Streaming on mobile devices is also growing strongly, with the study finding that younger people especially are increasingly turning towards their smartphones and tablets for entertainment. One small cap company which is looking to take advantage of these growth trends is Malaysia based SyQic. The Business Listing on AIM in December 2013, raising £3.2 million, SyQic is a Malaysia based provider of paid video content across mobile and internet devices. Focussing on the South-East Asian market, the company was founded by CEO Jamal Hassim in 2004 and he retains a 32.9% stake in the business. SyQic’s flagship product is Yoomob, a subscription based mobile pay TV service which is provided through strategic partnerships with large telecoms providers (telcos) in South-East Asia. The service offers affordable, live and on-demand entertainment, such as comedy, music, sport and news, for as little as 10p a day or 90p a month. Subscribers pay through their mobile phone bills and SyQic then receives the money from the telecom operators (more on that later), with the telcos and content owners also receiving a cut. The company’s platforms are fully compatible with all Android and iOS devices, thus providing access to around 80% of the global mobile market. Following the first half of the current financial year the Yoomob service now has over 2.5 million subscribers and delivers monthly revenues of over £1 million. SyQic’s second product line is Cool2vu. This a Korean focussed video service, launched in Malaysia, Indonesia and Singapore earlier in the year in order to take advantage of the growth in interest in Korean popular culture. The service offers on-demand streaming of Korean drama, entertainment and music and (in contrast to Yoomob) has an advertising based monetisation model. The service has been further expanded into Europe, South America, Central America, India and the Philippines and is translated into seven languages. Growth figures so far have been impressive. Between launch in January and the end of June the service attracted 134,000 users. This accelerated markedly after the half year end, with Cool2vu being accessed by more than 427,000 users across 198 countries by 27th September. Encouragingly for growing advertising revenues, the average session time was 26 minutes. SyQic is also looking at subscription and e-commerce avenues to further monetise the product. Numbers Interims just released for the six months to June were good overall, showing revenues up by 30% at £6 million. While gross margins slipped from 47% to 41% pre-tax profits were up by a more pronounced 43% as the firm reduced administrative expenses against the first half of 2014. Earnings only grew by 23% to 5.09p per share however due to a higher number of shares being in issue. Risks As we will see in the valuation section below shares in SyQic are currently being given a very low rating by the market. This is because of three main reasons: Currency exposure – SyQic’s main areas of business are Indonesia and Malaysia. The firm invoices in Malaysian ringgit in these regions but its reporting currency is sterling. With sterling having strengthened significantly against the ringgit since the start of the year results for the half to June saw the company book in £0.7 million of translation losses. SyQic has also flagged that it expects to show further forex translation losses in the second half. With an overall 8.3% strengthening of sterling since the end of June this looks likely, although there has been a 6% fall in the past 2 weeks. These issues are offset to some extent by ringgit based revenues being matched with costs and SyQic having expanded its international presence during 2015. Sterling/Malaysian ringgit 1 year chart. Source: xe.com High reliance on 2 clients – in the first half of the current financial year the company’s top 2 customers accounted for 98% of revenues. Which leads on to the elephant in the room… Debtor issues – SyQic’s relationships with the South-East Asian telcos provide access to a huge potential customer base. In fact the telcos also drive the marketing – add-on services such as SyQic’s help them to increase average revenues per user. However, the major downside to the business model is that it takes a long time to collect the cash. Under the model the telcos pay SyQic’s fees to a third party. For example, major customer PT Nextnation Prisma (PTNP), a firm which operates SyQic’s licence agreement with key telcos PT Telkomsel and XI in Indonesia, collects the money and then passes it on to SyQic. But debtor days for the last financial year were 234 days, meaning that it took the company around seven and a half months to be paid. PTNP even owes money from 2012 and 2013, payments being delayed by a regulatory investigation into added services to mobile phone users in Indonesia. Despite the debtors issue SyQic does seem to be on top of it. A formal payment plan lasting until mid-2016 is in place with PTNP for the 2012/13 income. Payments to date have been on track and no bad debt provisions have been made (a weakening ringgit does reduce the value of these payments however). Also encouraging is that debtor days fell from 295 days in 2013 to 234 days in 2014 and that the company managed to post a £1.07 million net cash inflow from operations in the first half of 2015, with net cash up from £0.45 million to £0.58 million. Should cash collection become more of an issue the company has access to a £3 million working capital facility, at a rate of 5.5%. Valuation SyQic shares have fallen from their all time high of 124.5p and the IPO price of 62p to currently trade at a mid-price of just 21p. That capitalises the business at £5.5 million. Market forecasts for the current year are for earnings of 8.5p per share – revised down following the interim results due to the currency issues. Given the debtors issue the prospect of a dividend does not seem likely in the short-term. Nevertheless, the shares trade on a rock bottom multiple of just 2.5 times forecasts. Dare I say that AIM’s “Asian discount” is also being applied to some extent despite the firm’s head office and key staff being based in the UK. These issues aside there is a lot to like about SyQic. Revenues are growing quickly in a booming industry; the firm is expanding into new markets with new products; development costs are fully expensed; and there is strong operational gearing in the business. The catalyst for a re-rating will clearly be improved cash collection, something which we could see in the full year results. Again, the shares are not for widows or orphans but I do see the potential for significant gains in the medium term. Fair assessment above. Risk reward looks good here imo. |
Posted at 30/3/2015 21:54 by red_shed2000 Heads of Terms Agreement with ASIA e UniversityMon, 30th Mar 2015 07:00 RNS Number : 7839I SyQic PLC 30 March 2015 &n SyQic plc ("SyQic" or the "Group" or the "Company") Heads of Terms Agreement with ASIA e University SyQic (AIM: SYQ), the fast growing provider of live TV and on-demand video content across mobile and internet enabled consumer devices, announces it has signed a heads of terms ("HoT") agreement with ASIA e University, to host its courses and deliver educational programmes to its global student population. ASIA e University is an institution of higher learning established in Malaysia in 2007 under the Private Higher Educational Institutions Act 1996. The HoT will take effect from Monday 30th March 2015 and will be valid for a period of three years. Work has already commenced between the two organisations to prepare the platform for launch in early June 2015. Under the terms of the HoT, SyQic will host and deliver educational material across the Company's online platforms in order to enhance the student learning experience on mobile devices.. ASIA e University will license the SyQic platforms to make its content, courses and certification available globally using the Company's mobile video streaming technology. The educational content on the Company's platforms will generate user "stickiness" and derive licensing revenue for the Company from a share of the University's certification revenue. Jamal Hassim, CEO of SyQic, commented: "We are delighted to have agreed terms with one of the fastest growing graduate schools in Southeast Asia. In this period of the Malaysian presidency of the ASEAN Group of countries, the ASIA e University is an instrument for greater Asia wide cooperation and like SyQic is a catalyst in narrowing the digital divide among communities and nations. Together, we are ideally positioned to deliver educational content and a learning management system that is suitable to be delivered over mobile devices." |
Posted at 16/3/2015 08:01 by masurenguy It is very interesting to see this further development in their ongoing relationship with Viki. There really seems to be some good synergy between them !RNS Number : 4627H 16 March 2015 SyQic plc Further service expansion for cool2vu SyQic (AIM: SYQ), the fast growing provider of live TV and on-demand video content across mobile and internet enabled consumer devices, announces a further expansion of its contract with Viki to launch cool2vu in India. Viki - further territory expansion SyQic announced on 9 March 2015 an expansion of its agreement with global video service provider Viki, to make its cool2vu platform (www.cool2vu.com) available to SyQic customers in Europe, South America and Central America. SyQic is delighted to announce that it has now secured the rights from Viki to further extend its Korean entertainment service into India. The mobile compatible service is available in 7 different languages and will now have an addressable customer base of 3.13bn people across 4 geographic regions. The cool2vu service is currently advertising supported until a subscription service is introduced later in the year. cool2vu is already generating advertising revenues in most countries where the service is available. SyQic currently has a revenue share arrangement with Viki. Jamal Hassim, CEO of SyQic, commented: "We are delighted to be continuing the rapid roll-out of cool2vu, our Korean themed entertainment service, into the vast and dynamic market that is India. According to ComScore, the analytics company for the digital media industry, the total online video audience in India grew by 74 percent between 2011 and 2013 to 54 million viewers. This rapid and continuing growth in the Indian online video market, both in terms of viewers and consumption time, means there could be a substantial upside for the key players in this market. We therefore believe this development could represent a significant commercial opportunity for SyQic." |
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