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Author: DonkeyStock   |   Latest post: Mon, 17 Jan 2022, 4:33 PM


Malaysia Pacific Industries (MPI) valuation vs its peers

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Tech stocks are experiencing bloodshed this week. In the US market, loss-making growth stock and stock with negative operating cash flow are the top losers.

In Malaysia, players in the semiconductor supply chain are the top losers. Just a quick comparison between our 2021 top performer, Malaysia Pacific Industries (MPI), and its peers, you will know their current valuation is absurd.


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Labels: MPI

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Chart Stock Name Last Change Volume 
MPI 40.24 -1.76 (4.19%) 17,800 

  2 people like this.
firehawk too few semiconductor counters for investors .... push to too high valuation, buyers are exposed to high risk .....
14/01/2022 4:20 PM
CharlesT 2000 y2k a lot of rich waterfish bought at RM80+

2021 a lot of rich waterfish bought at RM40+
14/01/2022 4:22 PM
Lanmum Malaysia have sector rally and sector sell off session
14/01/2022 4:33 PM
treasurehunt Donkeystock. Good sharing! Thanks.
14/01/2022 4:46 PM
firehawk Not only MPI, many others also chased to extremely high valuation ....
14/01/2022 5:15 PM
CharlesT Buy glove at peak during 2020 may have to wait for 100 years to escape

Buy tech at peak during 2021 may have to wait for 10 years to escape

MPI was ard RM80 in 2000

Ops even after 20 years also cannot recover
14/01/2022 5:27 PM
ValueInvestor888 https://klse.i3investor.com/blogs/AmInvestResearch/2021-11-29-story-h1594704443-Malaysian_Pacific_Industries_Bright_prospects_ahead.jsp

After last few days drop of about 20%, PE becomes 27.

Are they doing the same even though they are OSAT. MPI focused more on automotive EV, and 5G. Now still facing shortages esp automotive parts.

I am looking to buy cheap MPI back this round of selling. I have some MPI but taken profit end of 2021.

Extract from Ambank Report

We raise our FY22, FY23 and FY24 core profit forecasts by 20%, 34% and 32% to RM366.6mil, RM459.6mil and RM509.0mil respectively. This is to account for brighter automotive and industrial outlook, which is poised to benefit MPI due to its strategic position underpinned by its power products investments, such as silicon carbide (SiC) and gallium nitride (GaN).

End-user segment update: MPI’s revenue growth largely came from the automotive and industrial segments, which expanded 15% and 12% QoQ respectively, contributing 37% and 31% of its revenue. The consumer & communication segment’s growth remained flattish, while growth for the PC & notebook segment declined 5% QoQ.

Capital expansion progress: MPI continues to invest in identified technology drivers for growth such as 5G, SiC, GaN, electrification, sensors and safety for the automotive sector. In Sep 2021, the group completed its 2nd phase of level 2 expansion for Carsem Suzhou, adding 4,400 sq metres to the plant. The group is also scouting for new land in China, with aim of setting up another facility to cater for growth in SiC-related products.
14/01/2022 5:46 PM
ValueInvestor888 Comparing Intel's PE Of 10 with NVIDIA's PE 80+ of may not be appropriate....

Likewise, compare Alibaba and Amazon may not be apple to apple comparison as well even there are e-commerce giant...

Anyway i am not expert in tech and hope to find out more...
14/01/2022 5:55 PM
ValueInvestor888 Semicon parts for EV should have very long growth going forward, at least next 10 years while semicon for PC may flat or drop marginally...

MPI’s venture into silicon carbide (SiC) power modules in 2020 offers promising prospects given the increasing popularity among electric vehicle (EV) manufacturers.

Silicon Carbide (SiC) is an innovative technology that will replace silicon in many applications. The idea of using SiC for electric vehicles (EVs) was born when efforts were made to increase the efficiency and range of such vehicles, while reducing the weight and cost of the entire vehicle and thus increasing the power density of control electronics.

Power electronics for EVs can effectively be enhanced with Silicon carbide solutions that meet design parameters and make an essential contribution to system performance and long-term reliability.
14/01/2022 6:28 PM
ValueInvestor888 Goreng so-called high tech stocks which are very overvalued with PE over 50, better avoid at all costs


and many others

As for MPI... under my watch list, haha..
14/01/2022 6:46 PM
BlessedInvestor Above is a not-so-good comparison.

Below is PE for Msia tech stocks as reference only but also not a good comparison as difference companies have difference product mix, expansion plans, clients etc.
Msia Osat players namely MPI, Inari and Unisem all have difference product mix, growth rate, mkt segment etc, eg Unisem net profit is not growing qoq and yoy whereas MPI and Inari has good growth qoq and yoy.

PE as of 14 Jan 2022 price

Inari : PE 34.07
MPI : PE 27.23
Unisem : PE 24.36
Vitrox : PE 51.65
Greatech : PE 44.54
D&O : PE 56.90
KESM : PE 36.27
UWC : PE 59.83

Which one cheaper, which one expensive?
15/01/2022 9:37 AM
BlessedInvestor This is a major correction not game over for tech. Unlike glove which thrives during covid only

Technology affects almost every aspect of 21st century life, from transport efficiency and safety, to access to food and healthcare, socialization and productivity. Pick a good tech stock to buy during this correction.

15/01/2022 9:48 AM
treasurehunt Donkeystock did a research in semiconductor industry. He has more information on his hands. Hope he would share more with us about benchmarking against global players within the industry.
15/01/2022 10:48 AM
OTB TSMC at PE 30+
AMD = 42.37
PER of Tesla = 340
PER of MPI = 28.83 (Last 4 quarters)
Forward PER of MPI in 2022 = 40.96/(366/210) = 23.54

I believe the share price of MPI is not too expensive.
Investors in KLSE did not do their homework and simply sell to follow the crowd.
I believe there will be a strong growth in the PAT of MPI in 2022.
Rebound today hopefully.

Thank you.
17/01/2022 6:58 AM
MorningGlory123 Fed’s Harker calls for ‘action on inflation,’ sees 3 or 4 rate hikes likely this year


*Majority global fund institutions are expecting 4 rate hikes from Fed Reserve but not sure can hit 1.00% or 1.50% (if US inflation unable to control further very high change can 50 basic points increase)




*Current NASDAQ stood at 1st stage of bearish trend, if Fed Reserve aggressively increase Fed Rate to curb high inflation, NASDAQ very high chance can be corrected by 40% from the peak level (currently only 8% off from the peak level)
17/01/2022 8:22 AM
MorningGlory123 Investment Guru already mentioned major correction ahead for Bursa Tech Sector
17/01/2022 8:23 AM

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