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Overview
Financial Highlight
HeadlinesBusiness Background MMC Corp Bhd is a Malaysian utilities and infrastructure group with ownership stakes and operations in the shipping, energy, and construction industries. MMC segments its operations into Ports and Logistics, Energy and Utilities, and Engineering and Construction business units. The company generates substantial portions of its total income from each of these divisions. Ports and Logistics owns and operates some of Malaysia’s largest container port terminals and provides logistics services. Energy and Utilities primarily generates revenue through the generation of electricity in its coal-fired power plants. Contract revenue associated with the Engineering and Construction group’s infrastructure projects, which include subway and sewage systems, represent its primary revenue stream.
  DepecheM Potential LU piece of news.... but this is a laggard... not ready to fly yet. 09/04/2021 7:18 PM coffeesheep MMC sells another 11 acres of land at Senai Airport City for RM24m https://www.theedgemarkets.com/article/mmc-sells-another-11-acres-land-senai-airport-city-rm24m 09/04/2021 8:31 PM bobochacha wow , look at the landbank value of 887 acres = 1.6 billion. amazing cash cow. and can use for future own development too. 09/04/2021 9:20 PM petnch2020 Actually the 887 acres are only the lands that are up for sale. But if you refer to the 2020 Annual report page 308, you would see that the total size of the Senai land for the development is actually 827 hectare or 2,043 acre. MMC is carrying this land at RM1.35bil in its book or at RM0.7mil per acres. The price of the recent announce disposal land to Shengda New Energy and the other E&E companies were transacted at RM2.17 mil per acre. This would value the total land for development of Senai Airport City at 2,043 acres x RM2.17mil = RM 4.43 bil. This would translate to RM1.46 per share. So yes. MMC is really undervalue. The land of Senai alone is well above the current market price. 09/04/2021 10:25 PM  probability RM4.43b - 1.35b = 3.08b gain in land value 3.08b is about RM 1 per share (GAIN ALONE!) Thanks for the info petnch2020 Posted by petnch2020 > Apr 9, 2021 10:25 PM | Report Abuse MMC is carrying this land at RM1.35bil in its book or at RM0.7mil per acres. The price of the recent announce disposal land to Shengda New Energy and the other E&E companies were transacted at RM2.17 mil per acre. This would value the total land for development of Senai Airport City at 2,043 acres x RM2.17mil = RM 4.43 bil. This would translate to RM1.46 per share. 09/04/2021 10:33 PM RAYDALIO_MALAYSIA I strongly agreed wth petnch2020...MMC is super duper undervalue!!! 09/04/2021 10:39 PM BULLBULL_BULL MMC value at RM4 but sell at RM1, crazy and I will hold long term till it reach above RM2 09/04/2021 10:40 PM probability Up to 6% Rise in Singapore Port Dues https://shipandbunker.com/news/apac/849518-up-to-6-rise-in-singapore-port-dues-next-year PTP should benefit being placed within same area 10/04/2021 11:54 PM abc333 基本面 消息面 技术面 全部利好 今年会不会2.00？asset revaluation will bring this counter to the moon 11/04/2021 10:07 AM  emsvsi Singapore port readies for Suez Canal backlog Singapore, the world’s largest container transhipment port, is readying itself for a backlog of ships and cargoes from the closure of the Suez Canal in late March. Marcus Hand | Apr 12, 2021 While ships bound from Asia to Europe stranded by the blockage of the Suez Canal from 23 – 29 March started to reach container ports in the Med last week, the longer distance to Asia means that vessels bound from Europe and US stuck on the North side of the canal are yet to reach Asian ports. “More recently the Suez Canal blockage cast the spotlight on the critical role shipping plays in keeping the global supply chain in motion,” Maritime & Port Authority of Singapore chief executive Quah Ley Hoon told a media briefing on Monday morning. A surge in traffic is expected at Singapore’s port as the ships held up at the canal arrive from Europe and the US. “So, the Port of Singapore is readying ourselves as a catch-up port to handle anticipated shipping backlog, our terminal operators are preparing more berths, equipment and operators to increase the handling capacity,” Quah said. In particular terminal operator PSA is working with shipping lines on the backlog and the schedules of their vessels. “PSA have for example made available their digital platform Calista to try and allow ships to have a better sense of the services and berth availability in Singapore,” she explained. At present the vessels that were stuck at the canal are still sailing to Singapore and how long it will take to clear the backlog will depend on schedules. Copyright © 2021. All rights reserved. Seatrade, a trading name of Informa Markets (UK) Limited. https://www.seatrade-maritime.com/ports-logistics/singapore-port-readies-suez-canal-backlog 12/04/2021 3:15 PM bobochacha malaysia just need the spillover effect from singapore port. too many ship cannot handle, then abit go to PTP la 13/04/2021 1:18 AM petnch2020 MRT3 tender expected in August. Refer link. https://www.theedgemarkets.com/article/mrt3-tender-expected-august-says-mrt-corp As mentioned previously, MMC-Gamuda has been the main contractor for MRT1 and MRT2. MRT3 will need a lot of tunneling works which bode well for MMC-Gamuda given that the company has a total of 12 boring machines that it had deployed in the MRT1 and MRT2 projects. They can easily redeploy the same machine for the MRT3. Some analysts has already assume MRT3 project in Gamuda valuation report. Surprise that they did not do the same for MMC. This company is really receiving anak angkat treatment from analysts. 13/04/2021 12:45 PM momo33 Putrajaya extends CMCO in five states and KL as it warns of possible fourth infection wave 13/04/2021 4:23 PM Inv3st0r69 Lol ppl telling to run from mmc.. fundamentally speaking, this is one of the best bet if market crash.. fundamental very strong 13/04/2021 9:47 PM petnch2020 Joshua, I don't think MMC falls under the "goreng" stock. Most that bought into this company will probably falls under the "value investors" category more than momentum investors. If you look at the recent top 30 investors list in FY20 Annual report, you will see that there are now a lot of foreign funds that have been buying shares of MMC. They did not have any position in MMC previously. Below are some of the new foreign funds. Most of them normally uses value/ growth investing strategy rather than momentum trading. You can check their website to see the explanation JP Morgan UBS AG Eastpring Investment State Street Corporation California State Teacher Retirement System Mackenzie Emerging Market Universal Investment Gesellschaft WisdomTree Florida Retirement System 14/04/2021 9:44 AM emsvsi BIMCO: Containership Orders Reach High with Focus on ULCS BY THE MARITIME EXECUTIVE | 7 April 2021 08:04:38 Construction orders for new containerships are at a high, setting new records in March and highlighting the confidence of the shipping industry. The industry trade group BIMCO is highlighting the order book as its “number of the week.” BIMCO reports that in March, orders for 45 Ultra-large containerships (15,000 and above TEU capacity) were placed, breaking a record. In addition, they report that an additional 27 orders for smaller sized ships were placed in the same month, bringing the total to 866,060 TEU on order worldwide. BIMCO’s Chief Shipping Analyst Peter Sand believes this indicates a turnaround for the container shipping sector. The turnaround for the container shipping sector offers a glimpse of the level of confidence currently seen in the business on behalf of owners as well as investors says BIMCO. For all of 2020, a total of 995,000 TEU of container shipping capacity was ordered. Capacity ordered in the first quarter of 2021 has already reached 1,398,000 TEU, a six-year-high compared to previous full years. “The industry is keen on benefitting from the economies of scale that ultra-large containerships have to offer if you carry payloads close to its cargo carrying capacity,” says Sand. Full article: https://www.maritime-executive.com/article/bimco-containership-orders-reach-high-with-focus-on-ulcs More ships (or cars or planes) = more traffic for ports (or petrol stations or airports) The orders confirms the increase and upcycle in global trade 14/04/2021 10:31 AM petnch2020 An article relating to the announced potential tender of MRT3. https://www.thestar.com.my/business/business-news/2021/04/14/new-mrt3-details-could-offer-more-upsides The analyst mentioned that Gamuda will be the obvious beneficiary of the project. Even mentioned other companies like Kimlun, IJM and MRCB. The analyst just seem to forget that Gamuda exposure to MRT3 will be via MMC-Gamuda ventures. MMC owns 50% of the venture which is the same as Gamuda's. In term of % value increment to companies, MMC actually has a higher % exposure to MRT3 vs Gamuda given that the market cap of MMC is only RM3.2bil vs Gamuda's RM9.0bil (mainly due to MMC forward PE of only 6x vs Gamuda fwd PE of 17x) 14/04/2021 10:34 AM petnch2020 Yeah agree. Have to be patient a bit with MMC. A lot of people still have yet to see the value and growth potential for the company. Most are looking elsewhere for recovery play investment which has push some of the share price at ridiculous valuation. MMC being the leading port operator in Malaysia (and top 10 globally) will actually benefit directly from the rebound of major economies which itself will see better trading activities. Ports being the gate for import and export trade are one of the first to feel the effects of any pick up in economic activities. We actually already seen it in 4Q20. Expect to continue through out FY21. Hopefully by then market would put a fairer valuation to MMC rather than a mere 6x fwd PE. Suria Capital, which is the smallest listed port operator in Bursa and is the operator of Kota Kinabalu port already command a fwd PE of more than 10x (premium of 60% vs MMC). Westport the 2nd largest port operator in Malaysia commands a forward PE multiple of more than 20x (230% premium vs MMC). Lets wait for 1Q21 result. It should show significant growth improvement vs last year result. 16/04/2021 9:22 AM BilisMrJ39 Join this counter at 1.03 with my glove profits. Hopefully it will surprise me next week 16/04/2021 5:29 PM  Pinky This counter will reward those who are patient and have holding power. But if you're looking for extraordinary fast gains, you will be disappointed. 16/04/2021 5:30 PM BilisMrJ39 Not looking for extraordinary fast gain, but finding those undiscovered gem with good fundamental and potential. This counter looks super underrated, lets see how it perform. 16/04/2021 5:37 PM aliyusof Pingdan ...yes rm52m awarded to MMC subsidiary in arbitration. https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3148793 16/04/2021 8:16 PM DepecheM MMC share price is just waiting to explode... a couple of good news of potential LU already ... accumulate with weakness. 17/04/2021 5:07 AM JoshuaMS7 Us market very stable and broke historical highest, foreign fund might bk to buy klci undervalued and fundamental strong stks soon! Plus dividend given June this counter will be best option for foreign fund when they found klci is still lagging and very far away from historical highest!! 17/04/2021 8:47 AM emsvsi BREAKING Major Chinese container ports volume up 10.8% in late March [2021] Container volume at eight major Chinese ports increased 10.8% year-on-year in late March. Katherine Si | Apr 08, 2021 According to the statistics released by China Ports and Harbors Association, export container volume increased 8.7% while the domestic volume increased 18% in late March. Among which, the port of Ningbo-Zhoushan and Shenzhen posted a growth rate of over 30%. Full article: https://www.seatrade-maritime.com/ports-logistics/major-chinese-container-ports-volume-108-late-march The global economy, and therefore international trade and shipping are on an uptrend 17/04/2021 5:19 PM  | |
