Csf Group Share Discussion Threads

[igoe104] 03/11/2011 14:13

Another malaysian data-centre company floating.


Joining the junior market at a challenging time, comparisons are likely to be made with Malaysian data centre outfit CSF Group. Having toned down its previously ambitious fundraising targets, the company has a number of obstacles ahead as it aims to persuade investors of its merits.

[blackrabbit] 28/10/2011 08:51

Or perhaps a run up before the results due mid November ? BR.

[battlebus2] 28/10/2011 08:23

Tipped again maybe.

[battlebus2] 12/10/2011 19:26

Legal and General now holding just over 3%.

[shuisky] 08/10/2011 18:03

Interesting stock.

Can anyone explain why they went for an AIM listing?

[igoe104] 07/10/2011 11:37

Abit of a write-up in the FT.

Mr Penny highlighted AIM-listed CSF Group, which struck a deal on September 22 with three Chinese telecoms firms to supply data storage and trafficking services for mobile phones and internet connections.

[battlebus2] 07/10/2011 08:04

Bit of sense coming back to the market up at the off 60/63 so some lost ground recovered.

[simon gordon] 01/10/2011 12:03

Flagged up on SVM's UK Opportunities Fund - September 2011:

CSF Group is the largest provider of data centres in Malaysia, with a market share of over 35%. The company operates two core segments: Data Centre Rental offers the wholesale renting of data centre space and maintenance facilities; and Design & Development provides project management services to third parties.

As the Internet market in South-East Asia continues to grow at double-digit rates, CSF is well-placed to benefit. Currently, only 21% of the Asian population uses the Internet compared with 58% in Europe and 77% in the US. As demand for dataintensive websites and mobile applications increases, we believe these growth rates are sustainable. CSF currently operates three data centres, all of which are operating at full capacity and provide good revenue visibility.

With a number of large anchor tenants in its customer base, the company believes that high single-digit percentage price increases are achievable. In an attempt to capitalize on the opportunity provided by the growing market, CSF has developed plans to double its current capacity in Malaysia over the next three years. In addition, the company has announced joint ventures in both Vietnam and Indonesia with a view to growing in both these territories.

CSF's current rating does not reflect the sizeable growth opportunities available to the company. With pricing likely to improve, buoyant end-user demand, and a marketleading position, we believe there is significant upside.

[battlebus2] 30/9/2011 19:10

Thats why i only invest long term 5/10 years to many short term swings and your cash withers to nought. What price for these in 5 years closer to £3 i'd guess.

[igoe104] 30/9/2011 16:12

Investors are like sheep, they only think of the short term. thats why they panic sell.

crazy really because this company has a great future.

[stegrego] 30/9/2011 16:08

Nothing, that's my point.
9 percent drop though.

[battlebus2] 30/9/2011 16:02

What's up Stegrego?

[stegrego] 30/9/2011 12:34

All the data centres have been blown down....

Oh hang on a sec.

Up, blown up not down. Explains the share price



Sheesh.

[igoe104] 30/9/2011 12:32

Looks like there is no hiding place for any share on the market at the moment. this seems to getting hammered very day at the moment. i think its roll up the shutter time.

[2vdm] 28/9/2011 14:47

igoe104 - good find and CSF mentioned as well. I'm still in for the long haul.

[igoe104] 27/9/2011 09:20

Im still holding, this should be a great over the next few years.

found this write up.

[battlebus2] 22/9/2011 18:36

Anyone else still holding? Pretty upbeat trading statement today should have helped the shares along but i suppose in current climate for the price to stay the same is a positive itself.

[igoe104] 17/8/2011 14:45

Write up here.


A third example is CSF Group, which is effectively a roll-out story for data centres in Asia, tapping into the high demand from countries like Vietnam and Malaysia. China Telecom wants them to go into mainland China and Taiwan. Unlike its more established western equivalent (Telecity, price-to-earnings ratio of 24), it trades on a prospective price-to-earnings ratio of just 10, offering potential earnings per share growth of 16% and a yield of 3.2%. The dividend should grow with earnings

[restassured] 28/7/2011 07:17

Very odd company,I can't get my head around the share trades that go on.

[battlebus2] 27/7/2011 21:05

Some really large trades after the bell today.

[igoe104] 19/7/2011 08:22

IC WRITE UP.



South East Asian data centre operator CSF has continued to grow occupancy levels and capacity. Indeed, management expects to more than double data centre capacity to 525,000 square feet in two years.
This surge in capacity will reflect the completion of its Malaysian data centres CX2 and CX5, as well as the commissioning of Hanoi-based centre CX4 and Jakarta-located CXJ. Moreover, with CX2 now fully commissioned, and a number of strong contract wins in the year, rental revenues surged 42.5 per cent to RM67.4m (£13.9m). Some 12 per cent of this is generated from more reliable maintenance income, too. Meanwhile, the design division, which designs and fits out data centres, saw revenue almost double to RM45.9m. Still, cash generation did take a hit on the back of significantly higher trade receivables. Chief executive Adrian Yong attributes this to delays and deferrals in customer payments, although most of these customers have now settled a substantial portion of the overdue amounts.
Altium Securities expects adjusted pre-tax profit of £12.9m for 2012, giving adjusted EPS of 6.7p (£10.1m and 5.2p in 2011).
CSF GROUP (CSF)
ORD PRICE: 71p MARKET VALUE: £113.6m
TOUCH: 69-73p 12-MONTH HIGH: 86p LOW:51p
DIVIDEND YIELD: nil PE RATIO: 12
NET ASSET VALUE: 25p NET CASH: £16.9m
Year to 31 Mar Turnover (RMm) Pre-tax profit (RMm) Earnings per share (Sen) Dividend per share (p)
2007 29.9 0.49 0.20 nil
2008 55.7 11.3 8.00 nil
2009 56.0 0.48 -1.90 nil
2010 70.9 44.5 35.7 nil
2011 113 49.8 29.8 nil
% change +59 +12 -17 -
£1=RM4.84=Sen484 (Malaysian Ringgits, Malaysian Sen)
More analysis of company results
More share tips and updates...
Buy
TIP UPDATE
CSF may not be as well established as rival Telecity, but it is making decent progress. And, even though the shares are up 20 per cent on our buy tip (59p, 12 August 201059p, 12 August 2010), they still trade on little more than nine times Altium's 2012 estimate of enterprise value to cash profits. That, says the broker, represents a 14 per cent discount to its peer group. Buy.
--------------------------------------------------------------------------------

[igoe104] 18/7/2011 16:33

Good write up from growth company.

[restassured] 18/7/2011 07:30

Other opportunities

We believe that there are many corporations, especially multinationals, that prefer to house their data centres in Singapore in spite of the relatively higher cost structure. Our team in Singapore is in discussion with potential customers and addressing the requirements of these customers. In conjunction with these discussions, our Singaporean team is also identifying a suitable site on which to construct a data centre.

We continue to pursue opportunities in Indonesia, Thailand, Vietnam and Singapore and of course in Malaysia

Recent Initiatives

Pursuing opportunities in China

Our association with PLT creates a good opportunity for us to market products and services to Chinese businesses. PLT is already a service provider to several large Chinese corporations and we are currently reviewing a possible collaboration with PLT to jointly market our products and services to Chinese businesses capitalising on PLT's rapport with the same.

Based on our preliminary assessment of the Chinese market, there are many Chinese businesses that are keen to house their data centre facilities and operations outside of China. We believe that the South East Asian region, by virtue of geographical distance from China, is an ideal location for this purpose. This strategy of developing data centres for Chinese businesses outside of China mitigates the risks associated with our present unfamiliarity with the relevant rules and regulations in China.

Addressing inquiries from Japan

The recent crisis in Japan has resulted in several enquiries from Japanese firms to locate their data centre operations to safer locations such as Malaysia and Singapore.

[nurdin] 18/7/2011 07:24

Excellent results..and the current year results expected to be in line.That is bullish !!

[restassured] 18/7/2011 07:16

FINAL RESULTS

For the Year Ended 31 March 2011

CSF Group (AIM: CSFG) is a leading provider of data centre facilities and services in South East Asia and the largest provider of data centre services in Malaysia. Today, the Company is announcing its results for the financial year ended 31 March 2011.

Financial highlights:

-- Revenues up 59.8% to RM113.3m (GBP23.3m*) (FY2010: RM70.9m (GBP14.6m*);

-- Profit from operations includes a gain from the sale (and leaseback) of data centres of RM24.6m (GBP5.0m*);

-- Profit before tax up 12% to RM49.8m (GBP10.2m*) (FY2010: RM44.5m or GBP9.1m*);

-- Rental and maintenance revenue up 42.5% at RM67.4m (GBP13.8m*) (FY2010: RM47.3m (GBP9.7m*);

Operational highlights:

-- Continue to support the development of our CX5 data centre, which continues to progress on schedule;

-- Attained full occupancy for our CX2 data centre from March 2011;

-- Commissioned CX4, a 3,500 sq ft data centre located in Hanoi, Vietnam (of which CSF has a 20% interest);

-- Developed the Group presence in Singapore in anticipation of future demand in the region;

-- Entered into an 'agreement-in-principle' with an Indonesian company enabling CSF to operate a state-of-art data centre of approximately 120,000 sq ft in Jakarta, Indonesia. The formal agreements are expected to be executed before September 2011and the data centre is expected to be ready for service in December 2011;

-- Enhanced our human resources programme recruiting additional engineers and technicians to support CSF's growth.


Outlook and current trading

Trading remains strong with good market traction within both the design, fit-out and maintenance business and our data centre rental business. Our new business pipeline continues to gather momentum with enquiries now coming from across the region.

The Group is confident that demand for our products and services will be sustained, driven largely by a combination of our own market reputation coupled with the strong demand for data centre services in Malaysia and South East Asia.

On this basis, the Board is pleased to report that CSF expects revenue and pre-tax profit to be in line with current market expectations.