We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.
| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Syqic | LSE:SYQ | London | Ordinary Share | JE00BF5S6G17 | ORD NPV |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 0.00 | 0.00% | 15.50 | 0.00 | 01:00:00 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| - |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| - | O | 0 | 15.50 | GBX |
Syqic (SYQ) Share Charts1 Year Syqic Chart |
|
1 Month Syqic Chart |
Intraday Syqic Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 01/9/2020 | 08:43 | SYQic PLC **IPO** | 1,126 |
| 07/1/2014 | 19:29 | SyQic plc | 52 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|
| 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 20/2/2017 14:55 by snape Has anybody used the matched bargain facility? if so what price did you get? |
Posted at 16/1/2017 09:28 by mikeja On the cards,massive dilution via share issue,underwritten by Jamal and his best mate.Shareholders committee has been formed,anyone interested ? |
Posted at 21/12/2016 15:05 by masurenguy chrisdgb 21 Dec '16 - 14:03 - 1090: Bust announcement after 4.30 then.Looks like chrisdgb has finally given up the ghost and seen the light ! chrisdgb9 Nov '16 - 1064: Hopefully an offer is reasonably close chrisdgb9 Nov '16 - 1066: I think you missed the zero, as in 20p per share. Masurenguy9 Nov '16 - 1065: This is totally unlikely to ever relist. If an offer is ultimately made it will be for pennies - probably circa to 2.5p per share, which is equivalent to the outstanding £650K loan made by Hassim. Otherwise it will just go into administration. Either way, there will be no return for external shareholders. Masurenguy9 Nov '16 - 1067: LOL - it must be nice living in your head with Peter Rabbit and the Tooth Fairy! chrisdgb 14 Nov '16 - 1077: Despite the knocking from certain people, maybe a fundraising is the best idea, the overdue payments now have a clear roadmap of monthly payments for the rest of this year and into 2017. This is a business suspended on less than 2x eps. Yes, the bid falling away is disappointing but I want to fight for it. Always a bitter pill to swallow when you have just become cannon fodder for principals who have been paying themselves big salaries while the business heads for a delisting leaving external shareholders high and dry. It has happened to all of us at some time or another in the past but the important thing is to learn from these situations so that you don't get caught by them again in the future. I really hope that remaining shareholders did not lose too much and that you have a better year in 2017 which enables you to more than recover the losses you've incurred here. |
Posted at 13/12/2016 09:39 by aylingd I will be unable to attend although I would like to as I'd like to see the whites of their eyes & hear how they intend to re-float this sinking ship. I will explore the possibility of a phone in as you suggest.I still cannot work out what is being planned here despite much head-scratching. The latest statemnt said.. 'the Company is proposing resolutions to seek additional authority from Shareholders to support further issues of Ordinary Shares for cash of up to 40 million shares for so long as the Company's shares remain admitted to trading on AIM'. As Jamal holds such a high percentage of the shares, is there really anybody else to convince (Utilco ?). Also, with only about 10 working days before quote is expected to be cancelled the statement makes little sense. The 'further isssues' implies more than one share issue, but if the share quote is suspended how can this happen ? I suppose once the AIM quote is lost they can do want ever they want. Also, not sure that restoring the quote will achieve anything, Jamal clearly can't be trusted so most shareholders will just run for the exit at any price. Maybe there is already a re-financing deal on the table that just needs a rubber stamp after shareholder approval. I can only believe Jamal's end-game is to take it private, one way or the other and I expect PIs to be left with little or nothing in the process. But we live in hope ..... D. |
Posted at 07/11/2016 07:44 by fft Accounts for Y/E 2015 and 6 months accts to june 2016 are out.Yes, there is a qualified statement from the auditors, but not sure why the shares cannot now be relisted and the shareholders decide whether to buy or sell and establish a share price. |
Posted at 16/9/2016 10:09 by aylingd 'Frustrating', a bit of an under statement, I'd say.I'd like to think the takeover panel are acting professionally & needing to see something substantial indicating there is light at the end of the tunnel getting closer at each deferral - but who knows ? This must be hugely frustrating & distracting to the employees etc trying to run the business, hope the uncertainty is not eroding what value may remain here (if any). Wish I'd listened to those on here who flagged up the ever increasing receivables - note to self about rose - tinted glasses, I think ! My guess is there are two likely outcomes: 1). The receivables get paid & we all smile. 2). The accounts eventually get published with a huge chunk written off. The co. comes back from suspension & the share price gets trashed. Bidco then pounce at a low price & we all have a moan about lack of governance on AIM. Take your pick. D. |
Posted at 07/6/2016 08:36 by masurenguy After 7 weeks there is still no indication of any acceptable potential deal on the table and the continued rescheduling of a deadline date does not augur well where shareholders are concerned.There has also been no news of any significant receivables collection since their trading update in April " The results from the management accounts for the year ended 31 December 2015 are before any provision against the amounts owed by the Company's principal trading partners. At 31 December 2015 the Company had outstanding trade receivables of £11.7 million (half year ended 30 June 2015: £8.4 million) and collections from the Company's primary customer had been less than previously anticipated by the Board. At 29 February 2016 trade debtors totalled £14.2 million. As part of the audit of the Company for the year to 31 December 2015, the Directors will be discussing with the Company's Statutory Auditor whether there should be a provision for impairment against the trade receivables, which could negatively affect the profit before tax for the year. In the Company's Annual Report for the year to 31 December 2014, the Statutory Auditor raised concerns as an 'emphasis of matter' in respect of the Company's credit exposure to SyQic's two largest customers. The Directors were of the opinion, at the time, that the debts were fully recoverable and thus no provision for impairment was required." Therefore nothing has changed since my view expressed at that time and the lack of any subsequent positive updates on payments suggest that finances might even have deteriorated further. Masurenguy - 21 Apr 2016 - 934: 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. 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. It seems to me that the likeliest outcome could be a loball offer from Bidco (maybe a few pence per share) as the only potential alternative to insolvency since without a significant reduction in receivables they must be close to running out of cash to fund continuing operations. chrisdgb - 984: The company remain in bid talks, what a crazy share price reaction....!! The price reaction reflects the above reality and I'm just surprised that it hasn't fallen even further on this news. With uncollected receivables that exceed annual sales and a potentially dire cash position, are you really expecting some kind of offer at a premium price? |
Posted at 19/12/2015 09:33 by jojaken A trading update was put out last year in the first week of December. That helped stabilise the share price at the time, for a while at least. Allenby's silence isn't helping either. No news is often worse than poor news as it only makes people think the worst. If management can, they should at least try to put out some info about current trading. IMHOEdit. Looking back at Allenby's last update: hxxp://allenbycapita a couple of points standout. Allenby said, "The cloud on the horizon is the weakening Malaysian Ringgit. Syqic predominately invoices in MYR and the currency has fallen by C.20% against GBP." - The MYR has continued to be weak and is in fact Asia's worst performing currency this year and is near year lows ! They went on to say, "Although yet to make a material contribution, the advertising based Cool2Vu continues to grow its consumer base. In our research published in June 2015 we noted that it had risen to position 84.6k in the Alexa rankings, as of September it has risen further to 74.3k" -That compares starkly with the latest data from Alexa: hxxp://www.alexa.com Even though Allenby was forecasting revenue of only 250k for all of 2015, this is very disappointing as this was supposed to be one of the bright spots. -So Yoomob trading is all the more important it would seem. So how have the launches in a number of new jurisdictions (such as Kenya, UK,& Myanmar) worked out? And how is H2 cashflow going? Allenby were expecting yearend cash of 128k down from 580k in June but that was contingent on payments from Indonesia's PTNP. So is Syqic actually cash positive at yearend? My guess is that it won't be but . . . much of the above is already reflected in the declining share price. So a strong set of Yoomob numbers (as was expected by Allenby) will be key IMHO. |
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. |
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Hot Features
Premium
