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[公司专区] 3816 MISC 马国际船务

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发表于 2011-2-26 17:22 | 显示全部楼层 |阅读模式
本帖最后由 JackyChoo 于 2011-3-15 15:02 编辑

最近股价节节败退,跌破多个重要支持关口。小弟开始注意此股,目的想要投资这间历史悠久和政府联营的公司。为了想要更深入了解这只股,请各位前辈多多指教,分享你们的宝贵意见,感谢各位。



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发表于 2011-3-7 16:13 | 显示全部楼层
Global shipping industry in dire straits on Mid-east, Africa unrest
Written by theedgemalaysia.com   
Monday, 07 March 2011 12:25


KUALA LUMPUR: The global shipping industry is facing tough times as they brace for mounting negative factors including high oil price, unrest in the Middle east and oversupply of vessels.

Moody’s Investors Service said on Monday, March 7 that last week, oil prices reached their highest levels since August 2008 on fears that unrest in Libya will spill over into other large oil-producing nations in the region.  Bunker fuel prices have risen over 25% since the start of the unrest in Africa and the Middle East.

The oil price surge has added further pressure on shipping companies, particularly liners and vessels leased out on a spot charter basis, as they face weak operating margins owing to the supply-demand imbalance seen in most parts of the shipping industry.

“If the unrest is prolonged or spreads to the major oil-producing countries in the region, it will reduce trade volume, the viability of routes, and lead to sustained higher bunker prices, all of which are credit negative for the global shipping industry,” it said.

Moody’s said some shipping companies regularly enter into short-term financial derivatives contracts to reduce their exposure to fuel price fluctuations. The reason for such strategies is due to the depressed freight rates and limited ability to fully pass through higher fuel costs to charterers.

“Such hedging strategies, however, have proven to be tricky, as shipping companies might lock in high bunker fuel prices,” cautioned the ratings agency.

It also cited shipping companies such as MISC BHD [] (A3 stable) which had resorted to slow-steaming to reduce fuel usage, optimize voyage planning and routing, and deploy measures to monitor vessels’ performance and fuel consumption.

Slow steaming refers to slowing down vessels to save fuel, while maintaining shipping schedules by adding vessels to routes.

However, Moody’s warned that such savings are limited, as the extension of transit time is restricted by the time sensitivity of shipments. The risk of engine damage increases at extremely low steaming levels if a ship is not designed for slow steaming.

Meanwhile, the turmoil in the Middle East and Africa has shut down key ports in Egypt and Libya for varying periods of time, disrupting loading and unloading operations for shipping operators with established routes to the region.

Shipping companies such as Pacific International Lines (B1 stable), which have operations in that region, are monitoring the situation closely for possible contagion to nearby ports.

Libya, unlike Tunisia and Egypt, is an oil exporter, accounting for around 2% of global production. Reports indicate more than half of this has been taken off the market since the start of the uprising.

Consequently, petroleum and chemical tankers need to be redeployed elsewhere owing to the reduced output in Libya. This may be mildly positive for tanker rates as reduced oil shipments from Libya are likely to be replaced by higher output from other parts of the Middle East and West Africa, resulting in lengthened voyage distances to Europe and the US.

“However, the fundamental structural imbalance is still the key negative driver for the shipping industry. Besides the oversupply forecasted in the dry-bulk shipping industry 2 a similar demand and supply structural imbalance exist for liners and the tanker business over the next 12-18 months.

“Such pressures were evident in the weak performance of MISC Bhd’s chemical, petroleum, and liner segments in its recently released fiscal third-quarter 2011 results,” it said.

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发表于 2011-3-7 17:28 | 显示全部楼层
MISC resumes decline, tough times ahead for shipping industry

KUALA LUMPUR: Shares of national shipping company, MISC BHD [] resumed its decline in late afternoon on Monday, March 7 in line with the weak broader market and tough times ahead for the shipping section.

At 3.33pm, MISC was down 14 sen to RM7.93 with 372,800 shares done. This was the lowest since Feb 24 when it closed at RM7.45.

The FBM KLCI fell 8.0 points to 1,514.61. Turnover was 470.13 million shares valued at RM618.02 million. There were 148 gainers, 565 losers and 235 stocks unchanged.

Moody’s Investors Service said on Monday the global shipping industry is facing tough times as they brace for mounting negative factors including high oil price, unrest in the Middle east and oversupply of vessels.

Oil prices are at their highest levels since August 2008 on fears that unrest in Libya will spill over into other large oil-producing nations in the region. Bunker fuel prices have risen over 25% since the start of the unrest in Africa and the Middle East.

“The oil price surge has added further pressure on shipping companies, particularly liners and vessels leased out on a spot charter basis, as they face weak operating margins owing to the supply-demand imbalance seen in most parts of the shipping industry,” the ratings agency said.

Moody’s also cited shipping companies such as MISC (A3 stable) which had resorted to slow-steaming to reduce fuel usage, optimize voyage planning and routing, and deploy measures to monitor vessels’ performance and fuel consumption. Slow steaming refers to slowing down vessels to save fuel, while maintaining shipping schedules by adding vessels to routes.

However, Moody’s warned that such savings are limited, as the extension of transit time is restricted by the time sensitivity of shipments. The risk of engine damage increases at extremely low steaming levels if a ship is not designed for slow steaming.

http://www.theedgemalaysia.com/b ... pping-industry.html

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发表于 2011-3-10 22:52 | 显示全部楼层
MISC falls to low of RM7.65, cautious outlook for sector

KUALA LUMPUR: Shares of MISC BHD [] fell to a low of RM7.65 in afternoon trade on Thursday, March 10, in line with the weak local and regional markets and further aggravated by the cautious outlook for the tanker sector.

At 4.09pm, it was down 16 sen to RM7.75. There were 469,400 shares done at prices ranging from RM7.65 and RM7.91.

Moody’s Investors Service said the Middle East turmoil, rising bunker prices were adding to shippers’ woes.

It said the the fundamental structural imbalance was still the key negative driver for the shipping industry. Besides the oversupply forecasted in the dry-bulk shipping industry, a similar demand and supply structural imbalance exist for liners and the tanker business over the next 12-18 months.

“Such pressures were evident in the weak performance of MISC’s chemical, petroleum, and liner segments in its recently released fiscal third-quarter 2011 results,” it said in a report issued on March 7.

Moody’s said shipping companies such as MISC (A3 stable) had adopted slow-steaming to reduce fuel usage, optimise voyage planning and routing, and deploy measures to monitor vessels’ performance and fuel consumption.

Slow steaming refers to slowing down vessels to save fuel, while maintaining shipping schedules by adding vessels to routes.

However, such savings are limited, as the extension of transit time is restricted by the time sensitivity of shipments. Furthermore, the risk of engine damage increases at extremely low steaming levels if a ship is not designed for slow steaming.

http://www.theedgemalaysia.com/b ... ook-for-sector.html

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发表于 2011-3-11 23:19 | 显示全部楼层
今天股价接近5年来最低价。 比2008金融海啸还低。

[/url] 没买到最低。我进了3张,人弃我取。7.6。业绩也 ...
ivanloh 发表于 2011-3-11 23:04

Totally agreed with u.
2个星期前,偷鸡成功,如果下给星期股价低过rm7.50,一定会再买进

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发表于 2011-3-12 01:00 | 显示全部楼层
偷Misc-cj比较刺激

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发表于 2011-3-12 11:51 | 显示全部楼层
手握蓝筹股的感觉是很好的。好多年没买蓝筹了。虽然只买了几万块,可能赚幅不多,但胜在稳当。只要买 ...
ivanloh 发表于 2011-3-12 11:01



同意,最重要是此股也有给股息RM0.35 = ~DY4.6%, 就算中套, 也不太伤

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发表于 2011-3-12 12:40 | 显示全部楼层
本帖最后由 wen1979 于 2011-3-12 12:42 编辑

现油价剧居高不下,会不会对Misc下业季不漂亮而股价遭卖压下探可能性,价会不会跌到7.00?

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发表于 2011-3-13 07:00 | 显示全部楼层
今年股息可能会给更多。刚刚的成绩单季赚30分。我估计全年应该可以赚58-65分。现在的价钱便宜。 如果 ...
ivanloh 发表于 2011-3-12 18:04



    看了Misc派息过往记录没超过35,现净利上升那么多,会打破记录派超35息?

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发表于 2011-3-13 18:42 | 显示全部楼层
不要盲目相信报纸写的股评。不是高油价,你能买到这价钱吗?

   我记得两年前,狗屁经济版说高 ...
ivanloh 发表于 2011-3-12 18:13


Haha,Ivan 兄果然利害,那么air asia最少也开了一番了,恭喜
当年油价在us$140时,misc 股价还是很稳, 如果这次真的跌到rm7, 如你所说,值的买入做长期投资

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发表于 2011-3-15 10:55 | 显示全部楼层
今天又重挫,断期不乐

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发表于 2011-3-18 20:34 | 显示全部楼层
MISC at week high, heavy engineering to underpin earnings

KUALA LUMPUR: Shares of MISC BHD [] advanced 30 sen to a week’s high of RM7.82 in afternoon trade on Friday, March 18 on expectations its robust heavy engineering business would underpin its earnings despite headwinds in its liner and tanker divisions.

At 3.37pm, MISC was up 30 sen to RM7.82, the highest since last Friday, March 11. Theer were 619,700 shares done.

The FBM KLCI rose 3.52 points to 1,495.61. Turnover was 725.69 million shares valued at RM911.76 million. There were 423 gainers, 247 losers and 275 stocks unchanged.

Sentiment was boosted by recent news that its heavy engineering business was expected to buoy the company’s outlook. MISC’s heavy-engineering business is operated by 66.5%-owned Malaysia Marine and Heavy Engineering Holdings Bhd.

MISC also planned to work with Malaysia Shipping Corporation (MSC) to improve operational efficiency and enhance customers’ shipping experience.

http://www.theedgemalaysia.com/b ... erpin-earnings.html

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发表于 2011-3-19 09:53 | 显示全部楼层
核能發電受挫 天然氣看漲

(吉隆坡18日訊)日本福島核災導致全球核能發電領域受挫,但卻引致天然氣成為最大受惠者。我國料從日本獲取更多的液化天然氣(LNG)訂單。

大馬國際貿易及工業部副部長拿督慕克裡較早前表示,地震大海嘯已經打擊日本發電量,日本可能向我國提升液化天然氣的訂單。據瞭解,日本共佔我國液化天然氣出口量的66%比重。

這消息激勵MISC公司(MISC,3816,主板貿服股),今日扭轉跌勢大幅走高,全天上漲32仙,是過去32個月以來最大漲幅,閉市掛價7.84令吉,也是今日漲幅最大的股項之一,全天成交量達174萬6700股。

MISC公司是大馬主要的液化天然氣運輸業者。

國際調查機構Frost & Sullivan則指出,日本福島核災已導致剛處於復甦階段的核電領域再度受挫,但卻因此引致天然氣成為受惠者。

「全球核電領域已招致嚴重的社會反感,許多國家包括瑞士及德國都已紛紛關閉核電廠,唯美國、意大利、波蘭、及印尼堅持進行核電計劃。」

該機構認為,在這趨勢下,天然氣將崛起成為受惠者。

「天然氣需求提高,日本已增加液化天然氣的要求,估計需求上漲局勢是長期的。」

自日本關閉6所核電廠後,天然氣及燃煤已成為替代的發電資源。隨著核災災情嚴重,核電廠料將關閉至少3年,甚至是永無翻身之日。

因此,該機構預測,天然氣及燃煤價格將在短期內雙雙上漲,並在長期內進一步節節上升。

日本是全球液化天然氣最大進口國,其中70%是從澳洲、印尼、汶萊、及大馬引進。在核災發生之前,天然氣價格也隨著需求提高,每百萬英熱單位(MMBTU)在2012年之際看漲至5至6美元。

Frost & Sullivan相信,日本核災引爆後,天然氣價格將會走得更高。該機構舉例,卡塔爾將向日本提供更多液化天然氣,間接導致歐洲供不應求而價格走高。

卡塔爾在09年共佔日本液化天然氣進口的12%。失去核能後,日本料在2012年雙倍提升卡塔爾的貢獻比重。

http://www2.orientaldaily.com.my ... e7b0YLW31S41cz29ti6

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发表于 2011-3-22 10:20 | 显示全部楼层
馬國際船務寫3年新高

(吉隆坡21日訊)母公司馬石油(Petronas)將輸送更多液化天然氣到日本,馬國際船務(MISC,3816,主要板貿易)受激勵寫下近3年新高!

馬石油昨日指出,將增加輸送液化天然氣到日本,以讓日本度過地震與海嘯災難后的艱難時期。

馬國際船務今早下跌8仙,開市報7.76令吉,但不久即重返正面區間,股價更節節走高,盤中最高漲11仙,至7.95令吉,寫下2008年7月以來、近3年新高。

休市時,該股上升9仙,報7.93令吉,成交量13萬5100股。

馬國際船務是馬石油旗下物流臂膀,擁有全球規模最大的液化天然氣油輪。

午盤時,該股維持揚勢,至閉市收在7.94令吉,揚10仙,成交量64萬8000股。

http://www.chinapress.com.my/con ... mp;art=0322bs14.txt

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发表于 2011-3-22 17:40 | 显示全部楼层
馬國際船務寫3年新高

(吉隆坡21日訊)母公司馬石油(Petronas)將輸送更多液化天然氣到日本,馬國際船務 ...
ThermoFisher 发表于 2011-3-22 10:20



    中國報記者果然很專業....

    股价收在7.94就說是突破三年新高....

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发表于 2011-3-25 17:22 | 显示全部楼层
AmResearch downgrades MISC to Hold from Buy, lowers FV to RM7.30

KUALA LUMPUR: AmResearch has downgraded MISC BHD []  to Hold from Buy previously and lowers its discounted cashflow-derived fair value to RM7.30 a share from RM11.80 a share.

The research house said on Friday, March 25 that it had cut its earnings projections and attached a higher 10% discount to its sum-of-parts valuation from 5% previously given deteriorating shipping fundamentals.

“We have cut our projections by 48-57% over FY11F-13F after factoring in lower tanker and container rates as well as higher bunker fuel cost assumptions. Reflecting our bearish view, our projections are now 32%-34% below consensus estimates over the FY11-13 forecast period,” it said.

AmResearch said tanker rates have been weaker than expected, as seen by the absence of winter peak in 4QCY10.  Accelerating fleet growth and a shift forward in delayed orders means oversupply will worsen over the next 2 years.

The research house added that Clarksons projects global tanker fleet growth at 6.4% in 2011 and 6.7% in 2012 versus the past 4-year average fleet growth of 5.8%.

“MISC’s valuation is already rich at 30x FY12F earnings, versus the broader market’s PER of 14x. MISC’s status as a high-beta cyclical stock positions it unfavourably in the current volatile market environment. At just 21% YoY EPS growth and 114% premium valuation to the KLCI, MISC is likely to underperform the index over the next 12 months,” it said.

http://www.theedgemalaysia.com/b ... rs-fv-to-rm730.html

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发表于 2011-3-30 17:30 | 显示全部楼层
MISC to net US$167m from sale and charterback of ageing vessels

KUALA LUMPUR: MISC Bhd expects to realise net cash of about US$167 million (RM506 million) for a gain on disposal of US$33 million from the sale and charterback of four tankers from its existing fleet.

In an announcement to Bursa Malaysia yesterday, MISC said its subsidiary AET Inc Ltd had entered into the sale and charterback for two Aframaxes and two Very Large Crude Carriers (VLCCs) with special-purpose companies owned by ICON Capital Corp.

“Under the transaction, upon the delivery of the vessels to the buyers, AET Inc shall bareboat charter each of the vessels from the buyers,” said MISC.

It said the move was part of AET’s medium and long-term fleet rejuvenation strategy through the phasing out of the older vessels owned by the company.

“The fleet capacity is maintained by usage of these vessels in the short-to-medium term,” said MISC, adding that save for the gain on disposal, its earnings for the financial year ending March 31 are not expected to be materially impacted.

The vessels in question are the Eagle Otome and Eagle Subaru which were built in 1994 and have deadweight tonnage (DWT) of about 95,000 tonnes, and Eagle Virgina and Eagle Vermont which were built in 2002 and have DWT of about 318,000 tonnes.

http://www.theedgemalaysia.com/i ... ageing-vessels.html

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发表于 2011-3-31 10:10 | 显示全部楼层
MISC售船回租影響正面

(吉隆坡30日訊)針對MISC公司(MISC,3816,主板貿服股)脫售再租回4艘油輪的事宜,分析員相信會為該公司帶來輕微的正面影響。

該公司在週二(3月29日)宣布,以總值1億6700萬美元(5億1000萬令吉)將四艘油輪,即兩艘Aframaxes和兩艘特大型油船(VLCC)售給ICON資本機構,並料從中取得3300萬美元(9900萬令吉)的收益,或相等于每股2.2仙。

針對這項事宜,分析員表示:「我們相信會對該公司的資產負債表帶來輕微正面的影響,該公司的淨債務和負債率將從84億3000萬令吉和0.37倍,分別減少至79億3000萬令吉和0.35倍。

此外,從這項交易取得的現金將能夠抵銷該公司目前油輪租賃的費用,有助節省利息。此外,在調整馬海事重工程(MHB,5186,主板貿服股)的財測之后,分析員將MISC公司未來3年的財測提高2%至3%。」

油氣業務表現料逐步下滑

分析員預測,在2011年運輸費用減少下,該公司在油氣業務的表現逐步下滑,自2009年開始就維持在每日3萬美元的運輸率。同時,全球經濟復甦帶動的需求受到產能走高的衝擊。倫敦的Gibson顧問及研究機構預測,該領域的產能將在2011年擴張4.9%,至4億4800萬公噸位(DWT),而2010年則適中成長7.6%。

同時,MISC公司的化學和貨櫃的業務將會持續受到運輸率和量在未來1至2年走軟的限制。因此,僅以根據液化天然氣(LNG)和其岸外和工程業務穩定的收入來源,將使到該公司的投資評估失色。

同時,在調整馬海事重工程的估值之后,他們也將MISC公司的目標價格從7.59令吉,提高6%,至8.01令吉,並維持「跑輸大市」的投資評級。

http://www2.orientaldaily.com.my ... Ozs0vCn324y3LLZ1zlH

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发表于 2011-5-10 15:45 | 显示全部楼层
MISC to sell older container vessels

KUALA LUMPUR: National carrier MISC Bhd is looking to sell three of its smaller container vessels, Bunga Delima, Bidara Bunga and Bunga Kenari, with each having a 1,200 TEU (20-foot equivalent unit) carrying capacity, according to reports.

Another vessel, a sistership to the three, the Bunga Terasek, is understood to be laid up, but is not part of the sale. All the vessels are about 20 years old.

News of the potential sale has been reported in international shipping publications.

The shipping giant is understood to have appointed auctioneer CW Kellock & Co to sell the three vessels on a tender basis for a price tag of US$6 million (RM17.9 million) per vessel late last month.

MISC had tried to sell the vessels last year but did not get good offers.  

In April this year, a similarly aged vessel Millenia Tower with a 1,400 TEU carrying capacity was sold for US$3 million while the Recife, built in 1991, raked in some US$3 million as well.

The sale of these smaller vessels is not likely to have much of an impact on MISC’s bottom line. MISC has a fleet of 18 container vessel, the largest of which can haul 7,900 TEUs.

For the nine months ended Dec 31, 2010, the company’s liner business suffered an operating loss of RM452.35 million, with the bulk of the shipping company’s earnings coming from energy-related shipping.  

MISC posted a net profit of RM2.18 billion on the back of RM9.4 billion in revenue for the nine months. Earnings per share were 48.8 sen.

MISC is a 62.7% unit of state-controlled oil major, Petroliam Nasional Bhd (Petronas). Other than shipping crude and refined petroleum products for the national carrier, MISC also has a 66.5% equity interest in Malaysia Marine and Heavy Engineering Holdings Bhd, which does fabrication work for the oil major.

The national carrier’s shares hit a 52-week low of RM7.35 on March 15. Over the past six months, MISC’s shares have dipped more than 14%.

MISC ended trading at RM7.50 yesterday.

http://www.theedgemalaysia.com/i ... tainer-vessels.html

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发表于 2011-5-12 10:35 | 显示全部楼层
馬國際船務 末季雖虧全年報捷
股市11/05/2011 21:03 Share  轉寄 列印 字体:.Send to friend

 (吉隆坡11日訊)馬國際船務(MISC,3816,主要板貿易)末季盈利表現差強人意,但全年淨利卻按年攀升1.7倍或11億8871萬令吉,報18億7075萬令吉。

 截至2011年3月31日財年,馬國際船務全年營業額下降11%或14億4944萬令吉至123億2564萬令吉。

 該公司第四季業績則下滑,營業額按年減少12%至29億2436萬令吉,同期淨虧損報3億788萬令吉。

 馬國際船務在報備文件中指出,末季重工程部門營業額放緩,將會影響當季盈利表現。

http://www.chinapress.com.my/node/215471

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