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[公司专区] 3069 MFCB 美佳第一

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发表于 2016-11-28 12:41 | 显示全部楼层


新闻
热股
美佳第一涨2.99% 第三季净利企稳
By Surin Murugiah  / theedgemarkets.com   | November 28, 2016 : 9:58 AM MYT   

(吉隆坡28日讯)美佳第一(Mega First Corp Bhd,MFCB)第三季净利从上财政年同期的2654万令吉,劲扬35.5%至3590万令吉,归因于建筑盈利入账及资源和产业业务盈利企高,该股今日早盘随即上涨2.99%。

然而,截至9时40分,美佳第一回吐部分涨幅至2.40令吉,仍上扬6仙或2.56%,一共有53万8200股易手。

这家发电商上周五(11月25日)向大马交易所发文告报备,其截至2016年9月30日止的财年营业额跳涨47.5%至2亿1502万令吉,同期录得1亿4577万令吉。此外,其中8820万令吉的营收来自栋沙宏(Don Sahong)水力发电项目。

然而,截至今年9月杪,这个水力发电项目的工程进度达11.5%。

该集团的水力发电项目和资源业务录得较高营收的正面影响,也为电力及产业业务录得较低的收入所抵消。



(编译:倪嫣鴽)

点评

这里有哪位大大在船上吗?  发表于 2016-11-28 19:44
谢谢分享  发表于 2016-11-28 14:11

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发表于 2016-11-28 19:46 | 显示全部楼层
MFCB-WA can up 270% or 140% in 3 years?
MFCB Target Price RM4.43 - exercise price of RM2.20 = RM2.23
Divided by MFCB Warrant price RM0.60 = upside of 270% !!
Medium term 12 months upside is 70% +.
My conservation calculation is 140% upside for 3 years.


Workings:
MFCB have this USD500m (RM2bn) Don Sahong hydropower project which has been on track, reaching 10% completion as of Aug 2016. The deadline to complete the project is31 Dec 2019 while commercial operation is scheduled to take place in early 2020.

Public Investment Bank's analyst said expecting a more than 3-fold jump in earnings.

I also tell you the bad points, may lose 70% of Group revenue (RM51.8 X 70% = RM36.26mil) and diluting with warrants.

2015 net profit RM51.8 million.
1-fold jump in profit RM51.8 million + RM51.8mil = RM103.6 million.
3-fold jump in profit = RM51.8 X 3 + RM51.8mil = RM207.2 million

207.2m - losing 36.26m profit = RM170.94million

Shares issued 401.9m, + warrants 67.3m = 469.2

Earnings per share RM0.364

X 10 times PE ratio = RM3.64

Warrant in the money price =  RM3.64 deduct exercise price RM2.20 = RM1.44
Warrant Price now RM0.60.
= 140% upside.

140% is a conservative figure.

For those medium term 12 months MFCB Target Price given by Public Investment Bank RM3.16.
MFCB Target Price RM3.16 - exercise price of RM2.20 = RM0.93
Divided by MFCB Warrant price RM0.60 = upside of 55% in 12 months.
12 months for sure will still trade at premium, so the upside could be 70%.

1)I use fully diluted from warrants.
2)Between now and 3 years later, MFCB may get new projects
3)The China concession expiry in 2022, another 6 years. And they may not lose it.
4)PE ratio is only 10 times. Historical is more than 10x???
5)Analyst said earning more than 3-fold. The above assumption is only 3-Fold.

Public Investment Bank analyst said . . . ..
The Laos hydropower project could fetch as much as RM4.43/share. Upon the full commercial operation of the hydropower plant, we forecast that the Don Sahong Hydropower could contribute as much as RM4.43/share (WACC: 7%) based on our DCF valuation. As of now, we apply a higher WACC of 10% coupled with a 30% discount for the risk exposure during the construction period, which yields a valuation of RM2.26/share. All-in, our SOP-based TP is revised upwards from RM2.29 to RM3.16.


Let's said we don't bother about my own analysis, purely go for MFCB target price of RM4.43 in the future, the potential upside of RM4.43 is a lot.


To get update of my future posts, please follow by LIKE my Facebook.

Thanks.

http://politemarket.blogspot.my/ ... 140-in-3-years.html

点评

一些关于mfcb的分析。。。  发表于 2016-11-28 19:55

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发表于 2016-11-28 19:48 | 显示全部楼层
http://politemarket.blogspot.my/ ... otential-chart.html

MFCB Warrant Upside Potential table
Update from my previous post. How to read the table.

RM2.23 is MFCB current share price and warrant is RM0.675.

If MFCB up 35% to RM3.00 and the warrant trade at 20% premium, then MFCB-WA will be RM1.40, 107% upside potential.

You can ignore those in blue as I don’t think that can be achieved. Because the higher the share price and warrant price, the lower the premium.

MFCB medium target price is RM3.16 given by Public Investment Bank research analyst.

If MFCB up 42% to RM3.16 and the warrant trade at 20% premium, then MFCB-WA will be RM1.60, 137% upside potential.

MFCB long term fair value is RM4.43 given by Public Investment Bank research analyst.

If MFCB up 99% to RM4.43 and the warrant trade at 0% premium, then MFCB-WA will be RM2.23, 230% upside potential.

For those who have lack of long term faith, MFCB at RM3.16 does not look super difficult. Upside potential for warrant will be 137%.

Risk?
As usual, 100% loss. Max.

In stock market, always think big, don’t just make 10%. Think 100%

Invest like a businessman for long term.

点评

一些关于mfcb的资料。。。  发表于 2016-11-28 19:56

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发表于 2016-11-28 19:49 | 显示全部楼层
http://politemarket.blogspot.my/ ... e-fibon-pwroot.html

MFBC-WA 200% upside, Fibon, PWroot,
As shared in my previous two posts on Mega First Corporation Bhd warrant, bought the warrant at 0.62x and hoping to get 100% or 200% gain. I didnt not make the forecast, but is referring to analyst long term target price.

MFCB latest 4 quarters profit is RM88mil now. Last year the news said ...... enabling annual profit contribution of about RM300 million to the company from the following year (after completion of dam), Executive Director Khoo Teng Kiat told The Malaysian Reserve. Meaning once the dam project completed, big jump in profit.

I saw MFCB early this year. Traded a bit and made small profit. Analyst keep saying good. Newbie also bought it and hold. The reason I sold because once project finished, I thought no more income.

Recently price up a bit. So i went to study again. I found the word "concession".  It means after the dam is completed, they will start to sell power generated. Is like collecting toll, long term income for many years. Why I didnt see the word earlier.

I then shared the report with Newbie and he started buying more MFCB. Medium term MFCB target price RM3.16, which is good also. At that time MFCB was RM2.0x only. Then I check whether got warrant or not. I did some calculation on the warrant, wow wow wow!!! It could have more than 200% upside. And I started buying and Newbie sold his MFCB and buy the warrant.

The risk is always something may go wrong. Whatever stocks we buy, also the same. But if this stock perform as per what analyst forecast, then the potential upside is very high.

Price has went up in the past few days. One thing I have to highlight, one of their power operations in China which contributes 70% of their earnings will expire next year 2017. But analyst said in 2022. Maybe they had got the extension. Execution and environmentalist also pose a risk. No worries because their new dam profit will few be folds higher than their current total profit.

More detail, please refer to my  previous two posts.

As mentioned earlier, I will not go big in Fibon. It announced some bad result. Sold all. Made a bit from first batch. Lose 10% on second batch. Net still lose few percent. This does not affect my portfolio much because small investmemt. Reason for selling? Same as what I have shared earlier, no concrete growth plan. If no concrete growth plan, why did I buy? Because many people keep saying good got growth, without providing details. Yes, I made mistake by buying little, should not buy at all. But I have improved on this. I posted in my blog, few weeks ago I have already changed my portfolio and strategy, if no details, I will not buy. This Fibon is those left over and also I have decided to add some for long time.

Anyway, small loss on small purcahse nothing much to talk about.

I have forgotten I'm supposed to study more on PWROOT. If good, may start to buy.

This year can be considered a good year. Good gain for many stocks especially JHM and KESM, gained 70% to 80%.

Some stocks making losses but these are very small. The real casualty is Tek Seng.

To support and get update, please like my Facebook at...

点评

一些关于mfcb的资料。。。  发表于 2016-11-28 19:56

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发表于 2016-11-28 19:50 | 显示全部楼层
http://politemarket.blogspot.my/ ... r-car-and-sell.html

Sell Your Mother, Sell Your Car and Sell Your House. It Is Time To Sai Lang on MFCB-WA
Don’t misinterpret, sell your mother means for those who have MFCB mother shares, may work out computation on the potential upside vs risk on the mother share vs the MFCB-WA warrant and see whether MFCB’s son the warrant has better return than the mother or not.

It is not literally sell our mothers. We all know we love our mothers.

Sell Your Car and Sell Your House, I copy these phrase from ICON. All these words are a way to say go big into it. It is not literally to sell our cars and sell our houses. Just like the famous phrase “during drop, sarong up”. It doesn’t mean we sell our sarong to buy durian, it is a way of saying durian is extremely nice to eat.

For more info, please refer to my previous 3 articles on MFCB-WA.

By the way, the above is not a recommendation. Always seek professional advice on shares trading. The above is something to lighten up myself after two weeks of boring market where the Dow Jones index dropped for don’t know how many consecutive days.

点评

哇轮,买入价风险低了  发表于 2016-12-22 21:02
tq  发表于 2016-11-28 20:47
一些关于mfcb的资料。。。  发表于 2016-11-28 19:56

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发表于 2016-11-28 19:51 | 显示全部楼层
http://politemarket.blogspot.my/ ... n-opensys-kesm.html

Mega First Corporatiob Bhd.
MFCB result for me is expected, drop on existing business but made from new hydro plant construction. Not sure how market will react. Past few weeks MFCB share price dropped because of uncertainty after the US Election and the volatility of Ringgit and Bursa Malaysia. I saw high % of its assets are in USD so strong USD should not be a problem. Although the share price was hit badly, now it has recovered nicely.

If we look at MFCB-WA, the price has recovered and went up higher than before it drop.

It is still not too late for those who wish to sell their mothers/cars/houses to sai lang on MFCB-WA. When Chinese friends took me that someone no waist, no backbone and no brain, it doesn't mean that. No waist means the lady's waist is big. No backbone means lazy. No brain means stupid. Sell mother sell car sell house does not mean we sell. Sell mother means sell mother shares (underlying stock). Sell car sell house means invest more after we have sought consultation from Financial Adviser. For more info on MFCB, please refer to my earlier posts.

点评

tq  发表于 2016-11-28 20:48
赞,谢谢分享  发表于 2016-11-28 20:13
一些关于mfcb的资料。。。  发表于 2016-11-28 19:56

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发表于 2016-11-28 20:14 | 显示全部楼层
美佳第一涨2.99% 第三季净利企稳
By Surin Murugiah  / theedgemarkets.com   | November 28, 2016 : 9:58 AM MYT   

Translated by Google Translator:
Select Language​▼
(吉隆坡28日讯)美佳第一(Mega First Corp Bhd,MFCB)第三季净利从上财政年同期的2654万令吉,劲扬35.5%至3590万令吉,归因于建筑盈利入账及资源和产业业务盈利企高,该股今日早盘随即上涨2.99%。

然而,截至9时40分,美佳第一回吐部分涨幅至2.40令吉,仍上扬6仙或2.56%,一共有53万8200股易手。

这家发电商上周五(11月25日)向大马交易所发文告报备,其截至2016年9月30日止的财年营业额跳涨47.5%至2亿1502万令吉,同期录得1亿4577万令吉。此外,其中8820万令吉的营收来自栋沙宏(Don Sahong)水力发电项目。

然而,截至今年9月杪,这个水力发电项目的工程进度达11.5%。

该集团的水力发电项目和资源业务录得较高营收的正面影响,也为电力及产业业务录得较低的收入所抵消。



(编译:倪嫣鴽)

点评

哇论,可留意  发表于 2016-12-22 21:01
大环境利好  发表于 2016-12-22 20:59
看好下季盈利增加  发表于 2016-12-22 20:59
好股,加油  发表于 2016-12-22 20:56
谢谢分享  发表于 2016-11-28 20:48

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发表于 2016-11-29 14:06 | 显示全部楼层
新闻
热股
美佳第一涨2.99% 第三季净利企稳
By Surin Murugiah  / theedgemarkets.com   | November 28, 2016 : 9:58 AM MYT   

(吉隆坡28日讯)美佳第一(Mega First Corp Bhd,MFCB)第三季净利从上财政年同期的2654万令吉,劲扬35.5%至3590万令吉,归因于建筑盈利入账及资源和产业业务盈利企高,该股今日早盘随即上涨2.99%。



这家发电商上周五(11月25日)向大马交易所发文告报备,其截至2016年9月30日止的财年营业额跳涨47.5%至2亿1502万令吉,同期录得1亿4577万令吉。此外,其中8820万令吉的营收来自栋沙宏(Don Sahong)水力发电项目。

然而,截至今年9月杪,这个水力发电项目的工程进度达11.5%。

该集团的水力发电项目和资源业务录得较高营收的正面影响,也为电力及产业业务录得较低的收入所抵消。



(编译:倪嫣鴽)

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发表于 2017-1-4 21:51 | 显示全部楼层
请问还有那位大大在船上吗?????

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发表于 2017-1-18 23:45 | 显示全部楼层
dershyang 发表于 2017-1-4 21:51
请问还有那位大大在船上吗?????

小小买了两粒收住等3块

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发表于 2017-1-19 19:14 | 显示全部楼层
Templar 发表于 2017-1-18 23:45
小小买了两粒收住等3块

请问有可能RM3吗??

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发表于 2017-1-20 07:11 | 显示全部楼层
美佳第一迈向RM2.65  2017年1月20日
多空一线●敏源

区域股市持续不明朗,继续牵制马股横摆。整体大势一度下探1658.36点后,于1666点报收。
隆股市综合指数于1月19日闭市时报1666.51点,按日再起1.49点或0.09%。它的整日交投波幅介于8.87(1658.36-1667.23)点间。
富时隆综指30只成分股,于1月19日持续处于横摆盘整走势。
上升股331只,而下跌股446只。
美佳第一(MFCB,3069,主板贸服股)于1月19日闭市时反弹了。它于闭市时收2.54令吉,按日涨9仙或3.67%。
美佳第一的30分钟图表走势,于1月19日的交投趋势,成功上破一道顶头阻力线(B1:B2)。
它的30分钟平滑异同移动均线指标(MACD),于2016年1月19日的交投走势,处于一个上升走势。
它处于“0”支撑线上波动,美佳第一的后市交投走势,或会出现一段回试下限支持线的支撑。
美佳第一的日线图表走势于回试后,或会显现一段反弹走势,它或会上挑2.55至2.65令吉的阻力关口。
免责声明:本文纯属技术面分析,仅供参考,并非推荐购买。投资前请咨询专业金融师。




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发表于 2017-1-22 18:35 | 显示全部楼层
dershyang 发表于 2017-1-19 19:14
请问有可能RM3吗??

今年的前三季业绩都大突破,保守估计第四季如去年的第四季,绝对可以破3
但是股票的价格向来都看市场反应先的

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发表于 2017-2-16 17:48 | 显示全部楼层
MATERIAL LITIGATION Notice of Civil Proceedings served on Idaman Harmoni Sdn Bhd by Inland Revenue Board of Malaysia                                                                       
MEGA FIRST CORPORATION BERHAD
                        
                                        
TypeAnnouncement
SubjectMATERIAL LITIGATION
                                
DescriptionNotice of Civil Proceedings served on Idaman Harmoni Sdn Bhd by Inland Revenue Board of Malaysia
                                                                                                                        Unless otherwise stated, the definitions used throughout this announcement shall have the same meaning as defined in the announcement announced by the Company on 5 October 2016 in relation to the Notices of Assessment received from Inland Revenue Board of Malaysia.

Mega First Corporation Berhad (“MFCB”) wishes to announce that Idaman Harmoni Sdn Bhd (“IHSB”), a subsidiary of MFCB, has been served on 16 February 2017 with a Notification of Civil Proceedings by the Inland Revenue Board of Malaysia (“IRBM”) under Section 106 of the Income Tax Act 1967 (“ITA”).

In the Notification, the IRBM has informed IHSB that IRBM has commenced civil proceedings against IHSB for an amount of RM26,329,278.35 as an Income Tax debt due to the Government for Year of Assessment 2009 – 2010. The Notification further informed that the Summons and Statement of Claim will be served on IHSB in due course, and that IHSB will be liable, in addition for all costs incurred.

The abovementioned Income Tax debt relates to :-

(1)     The Notices of Assessments and penalties as stated in MFCB’s announcement on 5 October 2016; and

(2)     Increases pursuant to section 103 of the ITA amounting to RM3,533,366.35 for non-payment of item (1) above.

Based on advice from both its tax consultants and solicitors, IHSB has filed appeals against the Notices of Assessments to the Special Commissioners of Income Tax on 28 October 2016 and the appeals are currently pending before the Dispute Resolution Department of the IRBM.  IHSB is seeking advice from its tax consultants and solicitors.

MFCB will make further announcement if there is any material update on the aforesaid matter.


This announcement is dated 16 February 2017.
                                            
                                       
                                    
                                
                        
                        
                                                                        
                        
                                                                Announcement Info                                       
Company Name                                                                         MEGA FIRST CORPORATION BERHAD                                                       
Stock Name MFCB
Date Announced16 Feb 2017
CategoryGeneral Announcement for PLC
Reference NumberGA1-16022017-00059
                                         


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发表于 2017-2-16 19:49 | 显示全部楼层
Templar 发表于 2017-1-22 18:35
今年的前三季业绩都大突破,保守估计第四季如去年的第四季,绝对可以破3
但是股票的价格向来都看市场反 ...

请问是不是要跑了,RM26,329,278.35 as an Income Tax 那么多

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发表于 2017-2-20 11:47 | 显示全部楼层
shkoh 发表于 2017-2-16 17:48
MATERIAL LITIGATION Notice of Civil Proceedings served on Idaman Harmoni Sdn Bhd by Inland Revenue B ...

请问这是追税,是不是意味着有被罚款呢?因为拖欠incometax

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发表于 2017-2-20 21:26 | 显示全部楼层
suBSub 发表于 2017-2-20 11:47
请问这是追税,是不是意味着有被罚款呢?因为拖欠incometax

应该要被罚款 RM3,533,366.35

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发表于 2017-2-21 20:02 | 显示全部楼层
OTHERS Offer and Grant of Options under Employees Share Option Scheme                                                                       
MEGA FIRST CORPORATION BERHAD
                        
                                        
TypeAnnouncement
SubjectOTHERS
                                
DescriptionOffer and Grant of Options under Employees Share Option Scheme
                                                                                                                        Pursuant to paragraph 9.19(51) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of MFCB wishes to announce that it has offered 12,010,000 options over new shares (“Options”) to Directors and employees of MFCB group of companies under its Employees' Share Option Scheme (“ESOS”).
The details of the Options are as follows:-
                        (a)
                       
                        Date of offer
                       
                        21 February 2017
                       
                        (b)
                       
                        Exercise price of Options offered
                       
                        RM2.41 per share
                       
                        (c)
                       
                        Number of MFCB Options offered
                       
                        12,010,000 share options
                       
                        (d)
                       
                        Market price of MFCB shares on date of offer
                       
                        Closing price of MFCB share on date of offer is RM2.72
                       
                        (e)
                       
                        Number of MFCB Option offered to each Director
                       
                        1. Goh Nan Kioh – 2,800,000 Options
                        2. Goh Nan Yang – 2,000,000 Options
                        3. Yeow See Yuen – 1,400,000 Options
                        4. Khoo Teng Keat – 800,000 Options
                        5. Tay Kheng Chiong – 100,000 Options
                        6. Tan Ang Meng – 100,000 Options
                        7. Koh Hong Sun – 100,000 Options
                       
                        (f)
                       
                        Vesting period of MFCB the Options
                       
                        The first 50% of the Options are to be vested on 30 June 2018, and the remaining 50% of the Options are to be vested on 1 July 2019.  The ESOS is expiring on 31 July 2020.
                       
This announcement dated 21 February 2017.
                                            
                                       
                                    
                                
                        
                        
                                                                        
                        
                                                                Announcement Info                                       
Company Name                                                                         MEGA FIRST CORPORATION BERHAD                                                       
Stock Name MFCB
Date Announced21 Feb 2017
CategoryGeneral Announcement for PLC
Reference NumberGA1-21022017-00098
                                         


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发表于 2017-2-27 18:02 | 显示全部楼层
3069                                                            

              Quarterly rpt on consolidated results for the financial period ended 31/12/2016            
              
Quarter:4th Quarter
Financial Year End:31/12/2016
Report Status:Unaudited
Submitted By:

Current Year QuarterPreceding Year Corresponding QuarterCurrent Year to DatePreceding Year Corresponding Period
31/12/201631/12/201531/12/201631/12/2015
RM '000RM '000RM '000RM '000
1Revenue283,329159,196913,832588,686
2Profit/Loss Before Tax59,87234,585199,625147,524
3Profit/Loss After Tax and Minority Interest34,58511,461120,74174,264
4Net Profit/Loss For The Period45,07922,070157,238107,654
5Basic Earnings/Loss Per Shares (sen)10.014.5134.9426.24
6Dividend Per Share (sen)3.005.005.008.00
As At End of Current QuarterAs At Preceding Financial Year End
7Net Assets Per Share (RM) 3.05003.6500


Remarks:
                  You are advised to read the entire contents of the announcement or attachment.
To read the entire contents of the announcement or attachment, please access
the Bursa website at http://www.bursamalaysia.com               
            
              
27/02/2017   05:11 PM            
              

Ref Code: 201702273100162            

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发表于 2017-2-27 23:42 | 显示全部楼层
shkoh 发表于 2017-2-27 18:02
3069                                                                        [/td][/tr]
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寮国水坝工程的威力,爆发了?

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还没有,只是当地的建筑工程受惠,水力方面要在2020年才全面盈利!  发表于 2017-3-6 21:26

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