Trading ideas: Takaful Malaysia, Frontken, Dufu, SunCon, Mitrajaya and SKB Shutters

KUALA LUMPUR: Stocks in the news recently that could catch investors’ attention include Takaful Malaysia, Frontken, Dufu, SunCon, Mitrajaya and SKB Shutters, said Apex Research.

The research firm highlighted that Syarikat Takaful Malaysia Keluarga Bhd‘s net profit for 3Q22 rose 20.2% YoY to RM87.27 million.

Frontken’s net profit for 3QFY22 rose 27% YoY to RM34.73 million.

Dufu’s 3Q22 net profit fell 18.92% YoY to RM16.42 million.

Sunway Construction Group Bhd‘s (SunCon) has been awarded a construction project worth RM278 million from the indirect subsidiary of its parent company Sunway Bhd.

Mitrajaya has secured a RM68.8 million contract for road improvement works at Endau Rompin National Park, Johor.

SKB Shutters Corp Bhd has acquired 9.81 acres of industrial land in the Eco Business Park V for RM35.97 million.

Meanwhile, Apex said the FBM KLCI could remain under pressure below the resistance of 1,462 points following the decline on Wall Street.

The US market declined overnight on a lower manufacturing index and resilient job openings as investors awaited the Federal Reserve’s expected rate hike.

Earlier, European stocks rose despite record high inflation and flat GDP.

Dufu’s 3Q22 net profit fell 18.92% YoY to RM16.42 million.

Source: https://www.thestar.com.my/business/business-news/2022/11/02/trading-ideas-takaful-malaysia-frontken-dufu-suncon-mitrajaya-and-skb-shutters

Titan shares rally to trade near all-time high after strong Q2 update

Shares of Titan Ltd rallied more 5% to ₹2,744 apiece on the BSE, trading near its all-time high level, in Friday’s opening deals after the company said its overall sales grew 18% year-on-year (YoY) in the September quarter (Q2 FY23) and added 105 stores in its retail network in the second quarter of the current fiscal.

The company, which operates in the segments as Jewellery, Watches & Wearables, and EyeCare in its quarterly update said that it “witnessed healthy double-digit growth across most businesses with overall sales growing 18% YoY. Retail network continued the pace of expansion adding 105 stores (net) for the quarter. The outlook for festive season (from Navratri in end September 2022) continues to be optimistic and is visible in positive consumer sentiment across categories.”

The jewellery division grew 18% YoY on a high base of Q2FY22 that had elements of pent-up demand and spillover purchases of a Covid disrupted Q 1 FY22. The product-mix improved compared to last year but continued to be below pre-pandemic levels. New store commissions (net) comprised of 8 domestic stores in Tanishq, 16 in Mia by Tanishq and 1 in Zoya.

Meanwhile, the watches and wearables division grew 20% YoY, clocking its highest quarterly revenue. The division continued its store expansions pan-India (net) with 7 new store additions of Titan World, 14 of Helios and 2 in Fastrack for the quarter.

In the Eyecare segment, its Titan Eye stores saw healthy double-digit growth. However, the same was offset by lower YoY sales across Trade & Distribution channel, leading to an overall 7% growth for the division. Titan”s Fragrances & Fashion Accessories grew 34 YoY, driven by 37 per cent growth in Fragrances and 29% growth in Fashion Accessories.

Caratlane (72.3% owned subsidiary) business grew 56% YoY driven by promotions around Raksha Bandhan and hero launches during the quarter. “Across categories, solitaires grew the fastest followed by studded and gold jewellery. Studded continued to contribute ~ 70% of the business despite a larger base as compared to last year,” it said.

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Meanwhile, the watches and wearables division grew 20% YoY, clocking its highest quarterly revenue. The division continued its store expansions pan-India (net) with 7 new store additions of Titan World, 14 of Helios and 2 in Fastrack for the quarter.

Source: https://www.livemint.com/market/stock-market-news/titan-shares-rally-to-trade-near-all-time-high-after-q2-business-update-11665116137065.html

PRVA stock hits 52-week high after guidance raise; Q2 beat (NASDAQ:PRVA)

Rolled newspaper with the headline Quarterly Results

Zerbor/iStock via Getty Images

Privia Health (NASDAQ:PRVA), a provider of value-based care, reported better than expected financials for Q2 2022 and raised its full-year outlook sending its shares a 52-week in the morning hours Thursday.

Privia’s (PRVA) revenue for the quarter jumped ~49% YoY to $335.5M as practice collections improved ~67% YoY to $615.5M while value-based care attributed lives gained ~16% YoY ~856K.

As care margin improved ~36% YoY to $76.2M, the net loss for the quarter narrowed to $10.5M from $172.5M in the prior-year quarter when the company recorded $202.6M of non-cash or non-recurring expenses.

Revenue for the first half of the year ~48% YoY to $649.3M, driven by a ~66% YoY growth in practice collections that generated $~$1.2B.

Meanwhile, cash and equivalents fell ~9% from 2021-year end to $292.2M with full repayment of outstanding debt during the quarter.

To reflect the strong performance in the first half and ongoing business momentum, Privia (PRVA) has raised its full-year outlook setting the 2022 revenue estimate at the high end of the previous view.

The company projected ~$1.23B – $1.30 revenue for 2022, initially in line with the current consensus.

Source: https://seekingalpha.com/news/3871711-prva-stock-hits-52-week-high-after-guidance-raise-q2-beat

USD Coin current price 1.00 USD – prediction and forecasts USDC/USD

What is USDC?

USDC is primarily a stablecoin, which means it is a cryptocurrency that minimizes market fluctuations in its value. Therefore, the dependence here has the value of the traditional currency (in this case the dollar). So it depends precisely on it, and the unit corresponds to one dollar unit. It should be pointed out that USDC has the second largest capitalization created by the Center consortium.

The creators of the cryptocurrency were, among others Coinbase, Center and Circle Internet Financial exchanges, who introduced USDC in 2018 based on the Ethereum network at the same time, which for many users might seem nothing special. However, it should be pointed out that it is the equivalent of the US dollar, but in a fully digital form. This means that any transfers can be made without geographic restrictions, and their transfer takes a few minutes. It is worth mentioning that in 2020 Circle and Coinbase announced an important update for cryptocurrencies and smart contracts, which are designed to facilitate the use of stablecoin in everyday life, i.e. for payments, trading or P2P (Peer-to-peer) transactions. .

Interesting fact: To confirm the trust and ensure the transparency of the system, the company published information that each month the state of USDC dollar reserves is confirmed by 5 largest accounting companies, incl. Grant Thornton LLP. Moreover, the company publishes reports intended to reassure users that the USDC cryptocurrency is fully convertible to US dollars.

How does USDC ensure the privacy of its users?

As the analysis shows, USDC is regulated by relevant financial institutions as well as secures assets and corresponds one to one US currency. Adequate privacy and its protection are provided by the Center consortium, which is responsible for the arrangements in the field of technology, policy and financial standards of stablecoin.

How to mine USDC cryptocurrency?

The essence of USDC is that it is not necessary to purchase a cryptocurrency excavator, which consumes a lot of energy, to mine them. This is due to from the fact that even a financial institution can become the issuer of USDC, from which external clients will exchange the cryptocurrency. For this purpose, it must meet certain conditions, such as: having active licenses, conducting AML program audits with compliance with FATF standards, an appropriate amount of reserves in a 1: 1 ratio with tokens (reporting on evidence of the existence of reserves confirmed by a statutory auditor), enabling exchange and redemption of USDC from other members of the issuer.

As you can see, for a financial institution to have the right to issue, it must meet a number of fairly restrictive conditions, which is why it may be a confirmation of its security for some.

As USDC was created by Coinbase, it is thanks to this platform that you can buy stablecoin. The first step to complete the transaction is, among others creating an account or logging into a Coinbase account, where it will then be possible to convert USDCS at the rate of USD 1 per USDC respectively (zero fees are provided here). Finally, the user can have a full cryptocurrency and can transmit it to another place or can recalculate it into US dollars.

How does USDC work?

Users who have already become owners of the cryptocurrency become the issuer of the currency and are entitled to transfer funds to the network. The issuer transmits the commands over the network from CENTER, where USDC tokens are verified. However, in the case of buyout, the customer performs the redemption operation after verification and confirmed compliance, where USDC is removed from circulation and the values from the reserve are sent to the customer’s external bank.

Importantly, USDC can store even parts of its value, such as 0.0003 USDC, so it is not necessary to invest all of its value, but we can only afford as much as we are able to offer. As we find in Coinbase on integrating USDC with Ethereum, it is indicated that this network was selected because Etherum is recognized as a leading platform for smart contracts that relies on strong support from developers.

To adequately illustrate how the USDC functions, it is worth explaining it on the basis of three points:

  • Sending the request to the USDC issuer and waiting for redemption according to the value – the amount in US dollars per USDC.
  • Sending a request to the USDC smart contract, which aims to further exchange USDC for US dollars, and then withdraw them from circulation of the appropriate / the same value of tokens.
  • The issuer delivers the amount in US dollars to the entity’s bank account.
  • It is worth mentioning that the amount received is reduced by any fees that were previously incurred.

    What is the specificity of USD Coin? First of all, it enables a reverse exchange – and thus the possibility of converting USDC into US dollars, which is also worth distinguishing in three stages:

  • The entity arranges a request to the issuer of USDC in the appropriate value of US dollars per USDC.
  • The issuing entity requests the USDC smart contract to convert the token into US dollars, eliminating the relevant value of tokens from circulation.
  • The issuer transmits US dollars from the reserve to the entity’s bank account, and the entity obtains cash corresponding to the corresponding value of the USDC token. The same as in the stage of converting US dollars to USDC – this value is reduced here by the fees potentially incurred by the given user.
  • What is CENTER and what is its purpose?

    CENTER aims to ensure the development of technology and contribute to the solution of potential problems related to price volatility, therefore USDC was created to eliminate the current problem. It creates a scheme that is to provide a solution to the links between various portfolios on a global scale and the goal is also the flow of capital between portfolios, in the same way as it is in web browsers and, for example, via e-mail or SMS.

    The CENTER software is to be managed by an independent organization and a specific entity that will be responsible for these activities. Supports and manages ongoing research and development works for an open-source program.

    All this is to ensure that CENTER is a significant and global organization open to the global market, which is to properly cooperate with digital wallets without geographic barriers.

    Furthermore, CENTER ensures that commercial USDC issuers are licensed to operate it and sets reporting requirements for any reviews.

    What is CIRCLE?

    Interestingly, CIRCLE is also called a start-up of digital currencies, supported even by the giant – Goldman Sachs. Circle, along with Center and Coinbase, is developing USD Coin stablecoin. CIRCLE was founded by people like Jeremy Allaire and Sean Neville in 2013 and serves as the primary money donor, so it can be said to be a financial book. Thanks to the functioning of CIRCLE, companies can transfer money with the help of American companies that provide financial services. The issue of legal regulations is important here, which in this case has been precisely described, so all companies dealing with the specificity of transferring money must strictly follow the established rules.

    It should be mentioned that CIRCLE is not obliged to charge any fees that the user might incur when using the tokenization or redemption services offered by CIRCLE. It should be pointed out, however, that all transmissions via a bank account carry a commission (it is estimated to be around US $ 50).

    Potential Uses of USDC Cryptocurrency

    Based on smart contracts, stablecoin enables the operation of products and services of many companies, as well as digital wallets, exchanges, DeFi protocols, savings services, loans and payment transactions. As we can see, the application is quite wide, however, it is also worth remembering about the advantages and disadvantages mentioned below.

    Advantages and disadvantages of USDC

    Certainly, the most important disadvantage is the fact that it is the equivalent of the US dollar, for some it may be beneficial and for investors it will not be a form of profitable investment. Therefore, it is fully dependent on the dollar exchange rate. On the other hand, given the assumptions, it may also be preferred as an advantage of a reliable and stable digital currency that will simply allow you to upgrade existing payments. Moreover, there is no need to create a bank account to own the USDC, unlike the regular US dollar. This means that you do not need to live in a given region to own it.

    Undoubtedly, the advantages of cryptocurrency include its stable value. Considering that the customer has the option to exchange the stablecoin on a bank account whose bank account is in US dollars, it gives a sense of security and therefore is responsible for the stability of the cryptocurrency price, as it is 1: 1 for the dollar as mentioned. Moreover, USDC is guaranteed by the US dollar which means that it is properly secured in your bank account.

    Its advantage is also the fact that it is supported by Ethereum, it is its token. Therefore, you can keep it in a wallet that is compatible with Ethereum. Its essence is that transactions can be made internationally. designed to be able to make global money transfers irrespective of geographic barriers. As one of the few stablecoins, USDC has obtained legal assurance, which is proof of the additional certainty of the cryptocurrency.

    Why should we use USDC?

    When answering this question, it is important to note some facts. USDC operates on the basis of the US dollar, but the functioning of financial institutions and all bureaucracy is eliminated. In addition, it is possible to circumvent the debilitated economies resulting in the phenomenon of hyperinflation. In addition, money transfers are international and there are no formal requirements.

    USDC and Bitcoin – basic differences

    USDC vs Bitcoin

    Name

    USD Coin (USDC)

    Bitcoin (BTC)

    Year created

    2018

    2009

    Maximum supply

    21 000 000 BTC

    Block reward

    6,25 BTC

    Market capitalization

    2 743 668 237 USD

    209 414 032 620 USD

    Algorythm

    SHA-256

    How much is (USDC)? On which exchanges is it listed?

    Cryptocurrency exchanges for USDC

    Crypto-crypto exchanges

    Trading on them takes place only through cryptocurrencies

    • Finexbox

    • Bitfinex

    Crypto-fiat exchanges

    They are traded both through cryptocurrencies and fiat currencies

    • Binance

    • Coinbase

    • BitMart

    Cryptocurrency wallets for (USDC) – which one to choose?

    When deciding on a cryptocurrency wallet, we must recognize its features in order to be able to properly classify whether the equivalent of storing our traditional wallet will be appropriate. It depends on many factors, including on how many cryptocurrencies we have, whether they are valuable and what budget we have to cover the wallet. It should be noted that when we decide to invest large sums of cryptocurrencies, it is worth spending a bit more money on appropriate wallets that store us money, because inadequate security will simply result in theft of our capital.

    Cryptocurrency wallet examples for (USDC)

    Before proceeding with the differentiation and qualification of individual portfolios for USDC, it is worth mentioning the specifications of each of them. The wallet is intended for network interaction with blockchain technology, but they can also be distinguished into two types: hot wallets and cold wallets.

    The hot wallet is characterized by a close connection to the internet, where the holder has an individual address where it is possible to deposit / transfer and trade cryptocurrencies. It is the most common choice of users due to its accessibility and usually free access to use.

    A cold wallet is a wallet that, unlike a hot wallet, is not connected to the Internet. Moreover, here there is a certain medium that works offline and stores our funds through certain tools that sometimes resemble a flash drive. It is characterized by the highest security of our funds.

    Cryptocurrency wallets for USDC

    Cold wallets

    Hardware wallets for USDC

    Występują w postaci fizycznej. Nie są darmowe, dlatego też dla początkującego użytkownika mogą być nieodpowiednie ze względu na dość wysoką cenę. Warto zaopatrzyć się jedynie w oryginały, warto zakupić je od samego producenta – w celu upewnienia się, że brak na nich złośliwego oprogramowania.

    • Ledger

    • CoolWallet

    Hot wallets

    Desktop wallets for USDC

    These wallets are available on Windows or other software like MacOS or Linux. Desktop wallets are free.

    • Exodus

    Browser wallets for USDC

    Browser wallets are free websites where you can register and then log in with your login and password.

    • Coinbase Wallet

    Mobile wallets for USDC

    As the name suggests – they are characterized by mobility, they are usually phone applications that allow you to browse our cryptocurrency resource wherever there is the Internet. They are usually free.

    • Dexwallet

    As you can see, for a financial institution to have the right to issue, it must meet a number of fairly restrictive conditions, which is why it may be a confirmation of its security for some.

    Source: https://tokeneo.com/cryptocurrencies/usd-coin/