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KLSE: MAGNI       MAGNI-TECH INDUSTRIES BHD
Last Price Avg Target Price   Upside/Downside Price Call
6.91 6.94     +0.03 (0.43%)
* Average Target Price, Price Call and Upside/Downside are derived from Price Targets in the past 6 months.
** Price Targets are adjusted for Bonus Issue, Shares Split & Shares Consolidation (where applicable).
Date Open Price Target Price Upside/Downside Price Call Source News
06/10/2017 7.19 7.20 +0.01 (0.14%) HOLD PUBLIC BANK Price Target News
14/09/2017 7.35 6.68 -0.67 (9.12%) HOLD WILSON & YORK Price Target News


Price Target Research Article/News (past 6 months)
06/10/2017  PUBLIC BANK Magni-Tech Industries Berhad - Taking A Breather
14/09/2017  WILSON & YORK Magni-Tech Industries Bhd 1Q FY 2018 Results Report (HOLD)



  6 people like this.
 
KYYMachai Switching my holdings to Petronm
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Extract of Analyst Report from RHB

Petron Malaysia

Fuel Happy

We initiate coverage on Petron with a BUY recommendation. Our TP of MYR16.20 (60% upside) is based on a 12.5x FY18 P/E. The company owns over 580 service stations nationwide, distributing gasoline, diesel and LPG products. Petron also owns an 88,000bpd refinery in Port Dickson, Malaysia with a Nelson Complexity Index of 3. We believe the refinery would provide the company with a competitive advantage, thereby enabling it to take advantage of refined product spreads.

Third largest retail station operator in Malaysia. Petron Malaysia (Petron), a major fuel retail distributor in Malaysia, has the third largest market share in the country behind Shell and Petronas Dagangan (PETD MK, NR). It owns over 580 service stations nationwide, distributing gasoline, diesel and LPG products.

Besides retail marketing, the company also owns an 88,000bpd refinery located in Port Dickson, Malaysia with a Nelson Complexity Index of 3. The refinery is capable of producing gasoline, diesel, liquefied petroleum gas (LPG), kerosene and low sulphur waxy residue (LWSR). The refinery has an average utilisation rate of c.50% due to the unfavourable economics of LSWR which, in turn is due to its low complexity rate. The company is 73.4%-owned by Petron Corp, the largest oil refining and marketing company in the Philippines.

The refinery could provide alpha. Its retail fuel segment plays a volume game, ie the more retail stations imply a higher volume. As such, we expect its retail volume to grow by c.4% each year, driven by the opening of new stations. Our base case scenario assumes Petron would open 15 new stations every year. Its commercial fuel segment earnings are driven by spreads for naphtha, kerosene and LSWR. We expect spreads for naphtha and kerosene to range between USD2-7/bbl for the long term. As such, we believe the commercial fuel would provide the company with a higher earnings growth potential, compared to that of its peers.

Healthy balance sheet. As of 1H17, it is a net cash company; we expect Petron to end FY17F in a net cash position. Total borrowings are at MYR66.4m, while its cash position is at MYR156m. This is comparable to the situation at the end-FY16, when it was in a net debt position of MYR136m. Net cash from operations and free cash flow has been on an increasing trend, attributed to better cost management as well as the asset performance mechanism (APM), which transmits changes in oil prices to retail fuel prices.

BUY. We initiate coverage on Petron with a BUY recommendation, supported by a TP of MYR16.20. We arrive at our TP by pegging a 12.5x P/E to FY18F EPS of MYR1.30. As a comparison, Petronas Dagangan is trading at 24.6x P/E for FY18, at a 70% premium to Petron. We like Petron as we believe its retail fuel segment would provide a stable base of earnings due to the APM mechanism, while its commercial fuel segment would provide an earnings boost, an advantage the company holds over its peers due to its refinery.
03/10/2017 16:45
Whey Whey Pls don't post thread unrelated to Magni here thx
03/10/2017 16:47
CKNGCKI3 Agree..!
03/10/2017 19:38
michaelwong This forum is solely for magni investors and if you are interested in petron share , post your comments in petron forum . Your informations have no related correlation with magni share investors........ right !
03/10/2017 20:15
JN88 Share split coming.
03/10/2017 20:33
chesslim 记住,在别人恐惧时要贪婪 ! Post at 15/09/2017
03/10/2017 21:41
JN88 Chesslim....your theory can apply in good stock only.
03/10/2017 21:48
ivan9511 magni safe , long term sure win
04/10/2017 00:01
Whey Whey Engine start again liao voom voom
04/10/2017 10:30
sherwinlow long term investment recommended. In In In!!!!
04/10/2017 14:00
optimus9199 Buy as much as possible
04/10/2017 23:03
chesslim JN88.... sure ! because Magni is good share .
05/10/2017 00:10
tealeaf gap closed up so fast...
05/10/2017 07:06
Whey Whey Showing no sign to slow down^^
05/10/2017 10:36
apple168 Magni is magnificent!
05/10/2017 21:02
JN88 No worry no worry RM10 coming as share split and warrant coming soon. Management will expanding their business also. As what had mentioned by the director. Their confident level is 100 %
08/10/2017 22:11
Alex Foo i am wrong. pls come back =(
08/10/2017 22:13
ehtan not your wrong, market wrong
08/10/2017 22:14
JN88 Those people who miss out Magni can in now. No point to talk bad about Magni. Alabama Amtui si bor when drop 6.0 and no buying wakak
08/10/2017 22:18
JN88 Net Cash RM 188 million. Where to find this kind of company? Next quarter RM210 million net cash...
Hahahaha
08/10/2017 22:29
apolloang market cap 1.137 bil and net cash only 188 mil. SAB more cash than magni anyway.....hahaha
08/10/2017 22:43
apolloang KEN market cap only 178 mil,got 158 mil cash....more cheap
08/10/2017 22:47
JN88 SAB dividend so low P/E so low ....hahaha
Margin so low hahaha.
08/10/2017 22:47
JN88 SAB 5 Sen dividend sibeh pity.
08/10/2017 22:50
JN88 I suggest you sail Lang KEN. Then take the 158 million run away
08/10/2017 22:56
apolloang u said where to find this kinda company and I mention 2 for u liao,so this is ur answer pula.magni is consider high.it is only magni a more speculative stock than both SAB and KEN
08/10/2017 23:01
JN88 SAB and KEN give 30% dividend from net profit???hahaha so kiam siap company no wonder so many cash.
08/10/2017 23:33
JN88 Consider high in what??? A company growth from RM 1 To RM 7 now. 30 % dividend keep paying to shareholders. Cash still growing now, business still doing now. You said this is speculation. Haha.
08/10/2017 23:37
JN88 Your valuation in value of company is too old. Better put your money in FD la. Haha
08/10/2017 23:38
apolloang if magni is worth 7.00 then sab should be at least 6.00 and ken 2.00,if u wanna based on the cash reserve.sab is kiam siap really only pays 5cts but ken a 94cts stock pays 2.5cts leh,what u gonna say?
08/10/2017 23:40
JN88 If Ken worth 2.00 then why now only 0.94 but not 2.00? If Magni not 7.00 why up to 6.99??
09/10/2017 00:14
JN88 The fact is magni up to 7.00 but sab never up to 6.
09/10/2017 00:15
apolloang both sab and ken no speculation not like magni,even profit down stock also up.
09/10/2017 01:44
limch Why RM 6.99 is cheap? Can drop to RM 6 or below? Last time people also said Perstima good at RM 7. Why PNB sold Magni not long ago like they sold HRC?
https://klse.i3investor.com/insider/substantialShareholderNoticeOfCeasing/7087/11-Sep-2017/11426_2460101368.jsp
09/10/2017 04:06
JN88 Sab and Ken are over value. Profit down but go up, goring counter.
09/10/2017 07:05
apolloang sab profit down and asset rich,ken profit up and cash rich both are undervalue not like magni profit down still no down,overvalue
09/10/2017 08:43
lcng123 apolloang, if you think sab and ken are good counters, just buy in and hold quietly. no need to announce in the forum. what is the point you mentioned here? you need people to push up the price so you can sell at higher price?. for jn88, just buy and hold if you think magni is undervalue, just like me buy in quietly.
09/10/2017 11:51
Alex Foo huat ar lackluster magni~
09/10/2017 16:42
Alex Foo why drop RM6 that time i no sailing?
09/10/2017 16:43
Alex Foo 如果没有‘美女'~日子怎么过~
09/10/2017 16:45
Slam Drum may i know when magni will share buy back?
10/10/2017 10:24
JN88 Magni over value buy Ken and Sab. Under value.
10/10/2017 21:44
Mars JN88...Ken & Sab not moving how to buy?
10/10/2017 23:26
apolloang no capital how to buy stocks? buy when not moving, moving wanna sell already,not the opposite
10/10/2017 23:28
JN88 Yummy yummy dividend. After get the dividend we buy KEN. Help to push up value of KEN. If not undervalue later.

Mars. Very simple you Q lower then ask Apollo ang sell to you.
11/10/2017 11:18
JN88 Apollo any ...why Magni still at 7 after ex of dividend? Under value?
11/10/2017 14:05
Whey Whey Engine start again! Voom voom
12/10/2017 16:20
apple168 Voom voom voom voom...
13/10/2017 16:54
neville_83 Slam drum: directors do not intend to do any share buyback at this time
16/10/2017 19:43
Slam Drum neville_83 thanks for update , company share buyback already announcement at bursa , directors do not intend to do any share buyback at this time, but the company can share buyback anytime ..right ?
17/10/2017 09:17


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