Ntegrator

Ntegrator: at $0.048, +2.1%, in top volume again, extending yday’s strong momentum, likely benefiting from spillover in sentiment, after Hutchison Global Communications announced that it has become the first foreign telco to secure the right to operate in Mynamr’s newly liberalized voice and data communications markets. The decision to allow an int’l carrier to operate in Myanmar came much sooner than expectations. Ntegrator designs, installs and implements data, video, fibre optic, wireless and cellular network infrastructures as well as voice comms systems. That makes it a potential play on the expansion and renewal of Myanmar’s outdated telco networks. Ntegrator is not a stranger to Myanmar. In FY10, 19% of the co’s $37.6m revenue came from its Myanmar operations, though that figure collapsed after the govt halted invmt in the sector. However this is about to change. MD Jimmy Chang prev said he expects over the coming two to three years, that Myanmar could account for more than one-third of Ntegrator’s revenues. This would make Myanmar the firm’s second largest source of revenue, after Vietnam. Ntegrator just about broke even last yr and trades at 41x P/E, 1.4x P/B. Ntegrator has the following warrants out. Ntegrator W121011 – expiring soon. Exercise price $0.017. 13.0m warrants out. Ntegrator W131206 – Exercise price $0.02. 149.8m warrants out.