Highlights
KLSE: MMCCORP (2194)       MMC CORP BHD MAIN : Transportation&Logistics
Last Price Today's Change   Day's Range   Trading Volume
1.03   -0.02 (1.90%)  1.02 - 1.05  8,218,600
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Overview

Market Cap: 3,136 Million
NOSH: 3,045 Million
Avg Volume (4 weeks):17,122,005
4 Weeks Range:0.985 - 1.15
4 Weeks Price Volatility (%):
27.27%
52 Weeks Range:0.62 - 1.26
52 Weeks Price Volatility (%):
64.06%
Average Price Target: 1.39
Price Target Upside/Downside: +0.36

Financial Highlight

Latest Quarter | Ann. Date 31-Dec-2020 [#4]  |  26-Feb-2021
Next QR | Est. Ann. Date: 31-Mar-2021  |  20-May-2021
T4Q P/E | EY: 8.36  |  11.97%
T4Q DY | Payout %: 1.46%  |  12.17%
T4Q NAPS | P/NAPS: 3.12  |  0.33
T4Q NP Margin | ROE: 9.93%  |  3.95%

Headlines

Date Subject
12-Apr-2021 PublicInvest Research Headlines - 12 Apr 2021
12-Apr-2021 Mplus Market Pulse - 12 Apr 2021
09-Apr-2021 Mplus Market Pulse - 9 Apr 2021
09-Apr-2021 PublicInvest Research Headlines - 9 Apr 2021
08-Apr-2021 MMC expects cargo volume spike due to Suez Canal incident
05-Apr-2021 Stocks on Radar - MMC Corporation (2194)
23-Mar-2021 Mplus Market Pulse - 23 Mar 2021
23-Mar-2021 MMC Corporation - Acquiring a 50% stake in KL developer
23-Mar-2021 PublicInvest Research Headlines - 23 Mar 2021
22-Mar-2021 MMC Corporation Bhd - Acquiring Cruise Business, Sea-Front Lands
09-Mar-2021 MMCCORP - KYY
02-Mar-2021 MMC Corporation - Northport enjoys spillover from neighbouring ports
02-Mar-2021 马矿业挑战93仙/敏源
01-Mar-2021 Mplus Market Pulse - 1 Mar 2021
01-Mar-2021 MMC Corporation - Record FY20 despite pandemic
15-Feb-2021 MMC Corporation - Additional tax assessment on Johor Port by IRB
02-Feb-2021 【行家论股/视频】马矿业 售RSGT改善现金流
02-Feb-2021 MMC Corporation - Disposing of 8% stake in Jeddah port for RM228mil
26-Jan-2021 PublicInvest Research Headlines - 26 Jan 2021
11-Jan-2021 Transportation & Logistics Sector - On recovery path, albeit at different paces

Business 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.
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  11 people like this.
 
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
vanbasten9 Post removed. Why?
09/04/2021 10:16 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
jgb349000 Hope monday opening gap up.
09/04/2021 11:50 PM
jgb349000 This giant should be valued at least at rm3.
09/04/2021 11:52 PM
longvalley .....hold
Like director
Wa Ka ka
10/04/2021 8:36 AM
newbie9893 i will sapu MMC-C24 next monday, premium
0%
10/04/2021 4:04 PM
ng1943 107---110---113------120
10/04/2021 4:38 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
pingdan Go bursa Malaysia download la.. just out last week
12/04/2021 12:55 PM
pingdan Whole report talk about Take cost out, get revenue in initiative
12/04/2021 1:12 PM
turtleking Boring eh
12/04/2021 2:32 PM
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
JoshuaMS7 run!! mmc seems crash soon!
13/04/2021 4:08 PM
ykyew11 I wonder what is the reason for MMC to be down today
13/04/2021 4:20 PM
momo33 Putrajaya extends CMCO in five states and KL as it warns of possible fourth infection wave
13/04/2021 4:23 PM
Pinky Bursa 200+ up
600+ down

Apa lagi u orang mau
13/04/2021 4:32 PM
pingdan Overall market sentiment is bad... break down to 1600 again...
13/04/2021 4:36 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
JoshuaMS7 haha no one wants to goreng then also no use...
14/04/2021 9:20 AM
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
flippiwippi Buy and hold for the dividend.
14/04/2021 10:37 AM
tatwaiwong 大基建重启新合约出闸 建筑股有望逐步走高
14/04/2021 10:27 PM
jgb349000 Write in english or malay la.this is malaysia.
15/04/2021 1:02 PM
aliyusof Petn2029...well explained
15/04/2021 1:12 PM
traderA it good! let us slowly collect
15/04/2021 11:05 PM
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
DepecheM Ex date in June... collect with correction
16/04/2021 12:39 PM
t_nike2002 Looks like heavy sell volume coming...
16/04/2021 3:30 PM
Pinky Topped up a bit at 1.03 today. Nice!
16/04/2021 4:53 PM
traderA me too top up on 1.03.. chance for us..
16/04/2021 5:06 PM
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
pingdan Mmc win litigation case.. free 52mil into pocket
16/04/2021 5:48 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
WINDX1221 port asset gonna ipo soon
17/04/2021 4:16 PM
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


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