Intueri Education Group Ltd


IQE Details

·       Update on the ASQA audit findings: Intueri Education Group Ltd (ASX: IQE) stock lost 80% on 27 September 2016 after the group reported two of its major segments’ non-compliance with their Australian Skills Quality Authority standards (ASQA) audit findings. The two IQE subsidiaries are not compliant with current ASQA standards, primarily relating to admissions procedures, assessment practices and learner support resources. IQE got notification from ASQA to consider either cancelling the registration of OCA and Conwal, or imposing sanctions of lesser severity, subject to a review of IQE’s response. OCA and Conwal comprise the primary businesses of the OCA Group. Conwal is IQE’s VFH provider of the accredited programmes. At the time of the July 2016 audit, it had 4,184 students enrolled. Conwal represented 95% of OCA Group in the first half of 2016 revenues. OCA is a Fee-for-service business comprising non accredited and accredited programmes, with 958 students at the time of the ASQA audit. Additionally, IQE came out of its trading halt and management hinted that any investor seeking to trade in IQE shares, and especially any investor seeking to acquire IQE shares has to take full account of the information provided in the update before trading and considers delaying any such trading until further information is available. This update from the group clear indicates the low confidence of management in the group which would inhibit investors to make fresh investments despite the stock fall. IQE stock has been under pressure in the last six months and fell over 28.57% as on 26 September, 2016.
·       Recommendation: We give an “Expensive” recommendation on the stock at the current price of $0.06
 
Infigen Energy Ltd


IFN Details

·       UBS ceased to be the substantial holder:Infigen Energy Ltd (ASX: IFN) stock fell 4.96% on 27 September 2016 after UBS group AG and its related bodies corporate ceased to be the substantial holder. On the other hand, IFN reported a positive net profit of $4.5 million in FY 16 against the loss of $303.6 million in prior corresponding period (pcp). This was mainly driven by the higher Large-scale Generation Certificate (LGC) and wholesale electricity prices. IFN stock is also added to the S&P/ASX 200 Index effective September 16, 2016 after the close of the market. Even though IFN stock has risen 39.83% in the last six months as on 26 September, 2016, we believe there is more momentum in the stock.
·       Recommendation: We give a “Speculative Buy” recommendation on the stock at the current price of $0.765


FY16 Financial Performance (Source: Company Reports)

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