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KLSE: MUHIBAH       MUHIBBAH ENGINEERING (M) BHD
Last Price Avg Target Price   Upside/Downside Price Call
1.62 3.05     +1.43 (88.27%)
* 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
14/02/2020 1.94 2.35 +0.41 (21.13%) BUY KENANGA Price Target News
29/11/2019 2.33 3.73 +1.40 (60.09%) BUY MIDF Price Target News
29/11/2019 2.33 2.90 +0.57 (24.46%) BUY KENANGA Price Target News
30/08/2019 2.47 3.73 +1.26 (51.01%) BUY MIDF Price Target News
30/08/2019 2.47 3.20 +0.73 (29.55%) BUY KENANGA Price Target News


Price Target Research Article/News (past 6 months)
14/02/2020  KENANGA Muhibbah Engineering (M) - Down But Not Out
29/11/2019  MIDF Muhibbah Engineering Berhad - Expect Better 2020
29/11/2019  KENANGA Muhibbah Engineering (M) - Construction Drag
30/08/2019  MIDF Muhibbah - Right on the Mark
30/08/2019  KENANGA Muhibbah Engineering (M) - Within Expectations



  14 people like this.
 
Choivo Capital And yes CharlesT,

No i have not finished my research, but i've always been aware of the company and liked it, and had a rough idea of the price i would like.

So i was ok with buying a very small 1%+ position first.
06/02/2020 11:27 AM
value88 Bought some at price weakness.
Its airport concession and crane segments will continue to do well in 2020. Its construction segment's revenue fluctuated a lot quarter to quarter, and depends on the progressive billings and therefore difficult to forecast...

Anyway, the price is cheap enough to collect now. The price weakness is probably due to people think the Wuhan virus would impact tourism and hence its Cambodia airport concession. Cambodia's is actually not much impacted by Wuhan virus, and if it is, the impact is not going to be long term.
06/02/2020 3:37 PM
RainT why MUHIBAH most quarter operating cash flows is negative?

nad indication ?
06/02/2020 4:20 PM
Cloudboy Major shareholder is selling....beware
06/02/2020 4:56 PM
RainT why is recent quarter 3 / 2019

the profit of infrastructure construction division is just 294,000?

it is the lowest ever?

anybody know what happen?
06/02/2020 5:13 PM
RainT @choivo

With work commitment
Where u have time to do such details analysis???

Wow

For me I will make it simpler by read available articles and annual reports
And filter out what can trust what is rubbish

Haha
06/02/2020 8:04 PM
Choivo Capital Haha because i enjoy it i guess?

Hmm you can make it simpler if its an easy to understand business, and the price is right ?

For me, i notice that when i do these kind of really detailed analysis, i discover things that i would have otherwise missed, and alot of them are quite material.

Also when you've done that level of research and you really understand the business and who you're dealing with (management), it makes it alot easier to buy more shares and sleep when prices drop significantly.

====
Posted by RainT > Feb 6, 2020 8:04 PM | Report Abuse

@choivo

With work commitment
Where u have time to do such details analysis???

Wow

For me I will make it simpler by read available articles and annual reports
And filter out what can trust what is rubbish

Haha
06/02/2020 8:15 PM
Samtuckfatt Foreign Substantial shareholders is acquiring recently
https://klse.i3investor.com/insider/substantialShareholder/5703/06-Feb-2020/478255_2030439969.jsp
06/02/2020 8:45 PM
Longi3 https://themalaysianreserve.com/2020/01/31/airport-rivalry-in-cambodia-hurts-muhibbahs-shares/
06/02/2020 10:53 PM
CharlesT Ah jon.this can cut short a lot of yr time for yr really detailed analysis or thesis
07/02/2020 6:11 AM
Choivo Capital Haha, that is probably 80% of the reason for the drop. But im concerned on a few more things.
07/02/2020 11:24 AM
Fabien "The Efficient Capital Allocater" Posted by RainT > Feb 5, 2020 10:54 AM | Report Abuse

@Fabien

can share the article about MUHIBAH is inside the top 10 buy for next decade ?


What i have is the hardcopy of weekly The Edge
08/02/2020 10:17 AM
RainT @choivo

can share what few things is your concern about MUHIBAH?
11/02/2020 11:34 AM
RainT @Fabien

I got that article already

thanks

quite simple article about MUHIBAH, does not deep into future prospect of MUHIBAH
11/02/2020 11:35 AM
chl1989 back to rm2
11/02/2020 1:02 PM
loico you think possible to back to RM2 in March?
11/02/2020 5:26 PM
RainT That foreign fund keep on buying

Anybody know where is the fund from ?
12/02/2020 12:05 AM
ozymandias https://www.construction-property.com/vinci-airports-and-sca-request-to-cooperate-with-ocic-on-the-new-airport-development/
12/02/2020 11:57 AM
12/02/2020 7:55 PM
Sky Liew 1.87 can back to 2.7?
13/02/2020 12:21 AM
chl1989 go go go
13/02/2020 9:30 AM
chl1989 tp hit. easy money. next tp 2.2 gogo
13/02/2020 3:57 PM
Choivo Capital .. why lah research still didnt finish, cannot top up T_T
13/02/2020 6:05 PM
ozymandias RainT That foreign fund keep on buying

Anybody know where is the fund from ?
12/02/2020 12:05 AM

boston
13/02/2020 6:56 PM
Sky Liew nayang 唱衰哈哈,拿edeg6天前的新闻来讲
14/02/2020 8:49 AM
RainT @choivo
faster finish your research and share with us !

today big drop, give u chance to buy
14/02/2020 7:19 PM
ragesliew Go to their yard.... they just expanded their covered workshop significantly.
No construction or fabrication company will spend this kind of money unless they are expecting or preparing for some big contract award....
16/02/2020 10:06 AM
ozymandias which yard is this
17/02/2020 9:38 AM
RainT now i know why MUHIBAH share price was waterfall recent days

it is due to Cambodia willbuild new aiport and MUHIBAH might be ask to close it airport and get compensation

the new aiprort to be complete in year 2020

then no more concession income for MUHIBAH then
17/02/2020 3:01 PM
RainT so that why la
17/02/2020 3:01 PM
RainT @ragesiew

what is their covered workshop?
u mean the construction of which projects ?

or ?

please share more
17/02/2020 3:02 PM
RainT where is the yard located ?
17/02/2020 3:04 PM
akulamatata Concession all protected by rule and contract,I think market overact on these news which yet confirm.Dun think Cambodia government want pay compensation , there always hv win win solutions.Now the price is super undervalued
19/02/2020 11:43 PM
Fabien "The Efficient Capital Allocater" the key issue is that the concession agreement does not have exclusivity clause. there is a risk of premature ending of the agrement when the new airport is completed.

anyway, right now the immediate concern is the negative impact on tourist arrivals
the lack of chinese tourists are expected to trim 0.5-1% of Cambodia's GDP
20/02/2020 8:25 PM
Fabien "The Efficient Capital Allocater" depending on what perspectives you have,

for example, Kenanga TP is RM2.35 while CIMB is RM1.50

but what is certain that sentiment would not improve unless the uncertainty surrounding the airport concession is cleared
20/02/2020 8:27 PM
ozymandias There is exclusivity clause for Phnom penh and sihanoukville. Please read kenanga report and don't blindly say things.
21/02/2020 12:04 AM
Fabien "The Efficient Capital Allocater" you can say my statement is incomplete

but DONT u dare to accuse me of malicious intent

ozymandias There is exclusivity clause for Phnom penh and sihanoukville. Please read kenanga report and don't blindly say things.
21/02/2020 7:22 PM
antoniomc27 Fabien, ignore him, your comments always add value.
Do you know where could I find CIMB report on MUHIBAH, the one with TP 1.50 ? Or would you mind copy-pasting a bit of it here?
Thank you.
22/02/2020 4:28 PM
ozymandias Cimb report doesn't account for latest development regarding the potential jv
22/02/2020 7:29 PM
Fabien "The Efficient Capital Allocater" what i had is a hardcopy.

but what i can tell, the main difference between CIMB and Kenanga can be attributed to the discount factor to the computed RNAV. it's a matter of perspective really

both came up with RNAV of RM3 though the valuation of individual businesses are different as methodology is different. Kenanga with 30% discount v. CIMB 50%

that's the beauty of investing. valuation is an art.

we can't discount the fact that there are uncertainties, which i have already mentioned. it all depends on how you weight those risks v. benefits

at this price, what does it implies? what are the market expectations ?

that's the hard part that we, as investors, need to find out.

i also had a report by Nomura, which i had obtained from Muhibbah investor relation, with a TP of 2.43 with a 20% discount factor.
24/02/2020 8:16 PM
antoniomc27 Thanks for the explanation.
25/02/2020 12:51 PM
ozymandias Think nomura report had a lot of numbers on the airport business
25/02/2020 7:32 PM
hng33 add muhibah at 1.70
26/02/2020 12:10 PM
sakurako somehow i start to losing patience with this stock, fundamental is good and accumulating since RM2.8...
27/02/2020 9:00 PM
28/02/2020 1:56 PM
ramada -11.48 sen.
https://www.malaysiastock.biz/Corporate-Infomation.aspx?securityCode=5703
28/02/2020 7:06 PM
gemfinder No wonder,keep,droping. Insider,oredj,knew,bad result
28/02/2020 8:03 PM
RainT Make loss
28/02/2020 8:14 PM
value88 Poor results due to project claims and variation orders. I think the management did kitchen-sinking in this quarter as all the bad things dump together into this quarter's account.
What can hope is its stock price has plunged so much in past 1 year and has taken into account this quarter's poor results.

In next quarter, almost sure Muhibbah will back to profitability, so just has to endure for next 3 months till Jan-Mar'20 quarterly result to publish..
28/02/2020 8:40 PM
Icon8888 If it is one off then Monday is the time to buy
28/02/2020 8:44 PM


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