KLSE: MFCB (3069)       MEGA FIRST CORPORATION BHD MAIN : Trading&Services
Last Price Today's Change   Day's Range   Trading Volume
3.67   0.00 (0.00%)  0.00 - 0.00  0
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Market Cap: 1,508 Million
NOSH: 411 Million
Avg Volume (4 weeks):400,711
4 Weeks Range:3.39 - 3.79
4 Weeks Price Volatility (%):
52 Weeks Range:2.70 - 4.02
52 Weeks Price Volatility (%):
Average Price Target: 4.32
Price Target Upside/Downside: +0.65

Financial Highlight

Latest Quarter | Ann. Date 30-Sep-2017[#3]  |  27-Nov-2017
Next QR | Est. Ann. Date: 31-Dec-2017  |  27-Feb-2018
T4Q P/E | EY: 9.96  |  10.04%
T4Q DY | Payout %: 1.19%  |  11.88%
T4Q NAPS | P/NAPS: 3.0457  |  1.20
T4Q NP Margin | ROE: 15.67%  |  12.10%


Date Subject
12-Feb-2018 Mega First Corporation - Stronger Progress Expected This Year
06-Feb-2018 Mega First Corp. Bhd - Power Up!
28-Nov-2017 Mega First Corporation - Steady Progress in Don Sahong Project
18-Oct-2017 MFCB to end CHINA Power Plant JV that accounted for 21% of its group earnings last year
12-Oct-2017 Daily Market Update - 12 Oct 2017 (MFCB, DAYANG)
11-Oct-2017 Mplus Market Pulse - 11 Oct 2017
25-Sep-2017 Mplus Market Pulse - 25 Sept 2017
25-Sep-2017 Mega First Corporation - Waiting On Major Announcements
18-Sep-2017 [转贴] 美佳第一MFCB – Don Sahong的内在价值 - RH Research
13-Sep-2017 [转贴]【美佳第一】- MFCB(3069) 业绩盈利蒸蒸日上,寮国Don Sahong水坝工程进展乐观!- Harryt30
04-Jul-2017 PublicInvest Research Headlines - 4 Jul 2017
03-Jul-2017 寮国水坝资金庞大.美佳第一派息恐受限
03-Jul-2017 MEGA FIRST - Progressing Well
11-Jun-2017 美佳第一2500万添石灰窑.扩展亚太区
23-May-2017 Mega First Corporation - Great Start To The Year
29-Apr-2017 The huge potential of MFCB! (video) ~ 创二代
27-Apr-2017 MEGA FIRST CORPORATION - Major Progress In Don Sahong Project
06-Apr-2017 UPDATE: TAKE PROFIT - MFCB-WA (3069-WA)
28-Feb-2017 MFCB - Solid Earnings

Business Background

Mega First Corporation Berhad (MFCB) is an investment holding company. MFCB is principally engaged in the provision of management services. It operates in five divisions: Power, Property, Limestone, Engineering and Investment Holding. The Power segment builds, owns and operates power plants. Property segment is engaged in property development and investment. The Limestone segment is engaged in quarrying of limestone, manufacturing and trading of calcium carbonate powder, lime based products and calcium silicate bricks. The Engineering segment engineers, designs and manufactures automotive and transportation components. During the year ended December 31, 2010, MFCB increased its shareholding in Hexachase Corporation Sdn. Bhd. (Hexachase) from 50% to 52.38%; acquired 30% equity interest in Don Sahong Power Company Limited (DSPC) from IJM Corporation Berhad, and acquired a 20.59% equity interest in Jadi Imaging Holdings Berhad (JADI).
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  9 people like this.
MoneyFace88 Gomen say you got to pay means you got to pay
07/10/2017 10:37
Artliner PROFESOR DATO' DR TAN HUI MENG (a company director) acquired 30,000 shares at 1.750 on 05-Oct-2017.

Why Prof. Dato Dr Tan can buy at 1.750?
09/10/2017 18:26
Artliner http://www.theedgemarkets.com/article/mega-first-gets-us150m-loan-don-sahong-hydropower-project
10/10/2017 17:56
tipumakan 1.70??? ESOS?
12/10/2017 18:03
markgor anyone receive dividend ?
13/10/2017 11:55
kenken85 yea. dividend received. thx mfcb.
13/10/2017 14:18
markgor I still yet to receive, are you using maybank or other bank ?
13/10/2017 14:43
SeiZai maybank usually very slow eh....
13/10/2017 16:15
tipumakan trustee account normally slow la, patient wait few days
13/10/2017 21:15
PotentialGhost China power plant no extent .
18/10/2017 00:16
tipumakan shorterm hiccup. long term prospect still intact, at this moment..
18/10/2017 14:49
markgor yes, support, dump the china power plant focus on higher margin hydro power plant, future prospect look great
19/10/2017 09:18
ong4965 Support +1
19/10/2017 09:38
tapdance 60mn write-off!!
19/10/2017 09:48
tapdance last quarter made 50mn only, coming quarter write-off -60mn???
19/10/2017 09:50
tipumakan dump ppl, dump. let me collect at low and keep for long term
19/10/2017 10:31
Artliner Dont forget the lawsuit case, they already lose it. but not dare to announce. Beware guys.
19/10/2017 10:46
tapdance lawsuit? what about it?
19/10/2017 10:52
tapdance http://www.thestar.com.my/business/business-news/2017/10/17/mega-first-to-exit-power-plant-jv-as-china-seeks-to-lower-pollution/

no wonder price didn't drop, write-down was not mention
19/10/2017 10:53
tipumakan @Artliner lose lawsuit? what lawsuit?
19/10/2017 11:00
Tung Kwang Yii Don Sahong power plant to be completed in 2019. Revenue will be triple. TP:6-7
19/10/2017 20:33
markgor management said don sahong after tax profit will be 300m per years, it translate 0.73 eps which doesn't include resources and existing tawau power plant. Take PE 10 for don sahong alone we should expect RM7.30 at least share price when don sahong fully operate
21/10/2017 09:37
supersaiyan3 markgor, Tung, yes! But still too conservative! Power plants especially Don Sahong has 25 years (am i right?), so at least 20 times PE (up to 40 times).

Low cost, high income visibility, market will like it very much once it is done.
22/10/2017 05:14
tipumakan Utility stock are more to dividend play. industrial PE average is around 18~20. But still need to see how much they can pay out for dividend. Guess they need to start repay loan after finish build, will consume some cash flow there.
22/10/2017 22:46
sell It told Bursa Malaysia that the 22-year agreement, in relation to 60%-owned Shaoxing Mega Heat & Power Co Ltd (SMHP), would not be extended when it expired on Oct 22, 2017.
Read more at http://www.thestar.com.my/business/business-news/2017/10/17/mega-first-to-exit-power-plant-jv-as-china-seeks-to-lower-pollution/#xtFf044ag2WLLfr1.99
22/10/2017 22:50
sell Today China power plant last day.
22/10/2017 22:51
tipumakan if not mistaken can realise 6million gain from china plant disposal
23/10/2017 11:16
tipumakan referring to previous analyst report, don sahong project alone will generate 73sen/share profit. If this can be realized, RM12 target is just the matter of time, unless they having difficulty to sell the power they generate. Anyway, i think it will not wrong if you buy at price now and keep for very long term. Everything looks good, at least at this moment...
24/10/2017 12:59
markgor I think sell the power shouldn't have any issue, malaysia TNB also buy from lao government
24/10/2017 14:20
markgor http://www.thestar.com.my/business/business-news/2017/09/28/tnb-to-buy-up-to-100mw-of-electricity-from-laos/
24/10/2017 14:26
tipumakan well, don sahong is not the only one building dam over there, there is another bigger project nearby also...
24/10/2017 16:36
akulamatata Still no news on the court case,weired
29/10/2017 20:31
ong4965 You can keep asking till next year if you're not tired.
03/11/2017 11:21
Jia Jiun Good time to buy?
03/11/2017 15:36
linjie keep buying
20/11/2017 17:37
tipumakan not yet, china plant discontinue on October. should observed next quarter
27/11/2017 20:37
tipumakan Errr... I read the headlines in this forum. Contribute 21% of last year earnings bro.
27/11/2017 23:14
kkteng70 another excellent result
27/11/2017 23:22
ajibkor IPP expire 2nd Dec why nobody say?
29/11/2017 09:23
tipumakan Tawau plant suppose not a problem to extend, management seems like very confident to get it extend
29/11/2017 16:38
一只马 passby.
08/12/2017 12:23
tipumakan shit. tawau plant no news?
13/12/2017 16:50
markgor If you read the Qtr report, management already said it will not obtain extension before expired date --
The existing Power Purchase Agreement (“PPA”) between Serudong Power Sdn Bhd
(“SPSB”), a 51%-owned subsidiary of the Company, and Sabah Electricity Sdn Bhd
(“SESB”) is due to expire on 2 December 2017. The Energy Commission (“EC”) has
vide its letter dated 21 November 2017 proposed new commercial terms for the PPA
extension that are acceptable to SPSB. The proposed new terms are however subject
to the Minister of Energy, Green Technology and Water and the SESB’s board
While management remains optimistic the PPA will be extended, the aforesaid
approvals and the subsequent extension agreement, are unlikely to be obtained and
inked respectively before the expiry date of the existing PPA. In the absence of any
eleventh hour interim arrangement with SESB, SPSB will have to stop supplying
energy on 2 December 2017 until such time the PPA extension is executed.
Earnings contribution from SPSB in the final quarter will be adversely affected if SPSB
stops supplying energy on 2 December 2017 and for the remaining part of the month.
14/12/2017 15:11

14/12/2017 15:16
tipumakan Next quarter a little bit bad now. Hopefully other segment can compensate the loss from power generation.
18/12/2017 17:22
Lohjunwei who is collecting?
window dressing?
28/12/2017 12:13
Fabien Extraordinaire Maybank:

Initiate with BUY and MYR4.15 SOP-DCF based TP
We like MFCB for its: i) potential returns from Don Sahong hydropower
project in Laos; and ii) strong growth prospect from its Resources
segment. Also, its net cash position as of end-2016 reinforces its balance
sheet strength to take on the construction cost of Don Sahong. We value
MFCB using the SOP method to derive our TP of MYR4.15 (+12%) with Don
Sahong and its Resources segment making up the majority of its value.
07/02/2018 10:28
tipumakan well, i think the report also mentioned near term suppression on profit. I prefer to wait for lower price
07/02/2018 12:15
Fabien Extraordinaire If you check the previous results, contribution from the China and Tawau concessions are quite small to the overall bottomline
07/02/2018 16:10
tipumakan what is your findout? i think is around 30% right?
07/02/2018 22:07


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