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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.
  charles pang kah keet MRCB, GAMUDA, GEORGEKENT, YTL GOING TODAY, I THINK MMC WILL FOLLOW. 12/07/2018 18:08 michaelwong Still got room to move forward with increased in volume in days to come provided Asian and DJI remain bullish. 18/07/2018 11:37 michaelwong At least can reach 1.60 in the near term with holding power since the volume is still low ! 18/07/2018 19:54 michaelwong Still can collect as the price is still cheap and wait for volume to increased 25/07/2018 20:16 longtermvaluegain https://www.nst.com.my/news/nation/2018/09/413200/ag-hundreds-lopsided-contracts-signed-during-bns-time 21/09/2018 18:04  James Ng https://klse.i3investor.com/blogs/general/177051.jsp [转贴] [MMC CORP BHD：完成收购Penang Port Sdn Bhd的51％股权，预计将增加港口和物流部门的收益] - James的股票投资James Share Investing 06/10/2018 12:57 wilsonchan87 MMC most untung one is port portion business, construction just smaller portion 08/10/2018 14:16 stockraider U need to understand these loh....!! Even if MMC got back their tunnel jobs, it will never be the same again loh...!! 1. There will be substantial discount given to secure jobs, and this will affect its construction margin loh....!! 2. The lost of PDP, means there is a big lost of steady & safe income which affect its bottom line loh....!! 3. The big discount given on elevated MRT for securing the jobs means another big cut in its construction margin mah....!! The other scenario , If MMC do not get back its tunnel jobs, it will means chaos to its business loh....!! 1. Heavy overheads, subcontractors issue, valuation of half way works etc....!! 2. The use of foreign tunneling contractors will also create competitors to its business loh.....!! Thus the overall business model of MMC is no longer as lucrative as b4 bcos of govt cost down loh....!! Overall it is bad news for MMC loh..!!, thats why mkt selldown loh....!! 09/10/2018 08:47 ivan9511 lucky buy mmcand Star at lowest easy pocket money for me on buying MMC abd Star MMC and Star now already paper profit \ Easy money 09/10/2018 16:29 Gn021 Following the robust reaction from the joint venture (JV) and those who would be affected by its earlier decision to take away the remaining work on the underground portion of the mass rapid transit Line 2 (MRT2) project, the Cabinet yesterday decided that an attempt be made to bridge the divide. “They will go back to the negotiation table to resolve this,” a source told The Edge Financial Daily. “The door remains open and hopefully a fresh tender can be avoided”. It is learnt that four ministers led by Finance Minister Lim Guan Eng will be involved in the renegotiation. They are Economic Affairs Minister Datuk Seri Mohamed Azmin Ali, Transport Minister Anthony Loke and Works Minister Baru Bian. 11/10/2018 09:46 Gn021 （吉隆坡11日讯）金务大（Gamuda Bhd）今早交投活络，上涨2.42%，似乎成为了马股一片红海当中的一点绿。 截至早上9点21分，金务大起5仙，至2.12令吉，约2115万股易手。 根据《The Edge》财经日报报导，内阁昨天决定重新谈判捷运2号线（MRT2）计划地下工程。 知情人士告诉《The Edge》财经日报：“他们将重新谈判，解决这个问题。这个大门一直都在打开，希望可以避免重新招标。” 据了解，以财政部长林冠英为首的4名部长将会参与谈判活动，包括经济事务部长拿督斯里阿兹敏、交通部长陆兆福及工程部长巴鲁比安。 11/10/2018 10:44 michaelwong Remember in stock markets no holds bar with no one can predict how low it can continue to drop yet excluding market crash which is currently still unaccounted despite the drastic dropped across the board . Is just the beginning of iceberg and guess what would happen when the real show begins which I have tasted 90% bit by bit dropped that caught you unaware and unexpected . 23/10/2018 17:07 mcmann what happen to this stock always down till so low ? the last time i trade is i buy at 2 and shoot to 3. now its trading below 1 OMG 01/12/2018 09:55 commonsense Profit to shareholders has continue to fall in FY18 to potentially end at a full year profit of only RM150mil. Profit was affected by the lower contribution of key divisions (port business and construction) as well as the lower performance of key associate company, Malakoff (profit would have been a lot lower if we were to exclude the one-off gains like the RM55mil gain on disposal of Lekir Bulk to TNB). At the current share price this would translate to a valuation of 17.7x PE (again this would be a lot higher if we were to exclude all the one-off gains). The company’s profit outlook for FY19 would be highly dependent on the port business which itself depends on the outcome of the tariff negotiation between US and China. A failure to reach any meaningful deal would end up with a continuation of trade tariff between the 2 biggest economies which will affect global trade outlook (MMC’s ports included). The Tanjung Bin power plant has consistently faced with unplanned maintenance every year since its first start operation back in early 2016. In FY18, one of its boiler walls had leaked which causes substantial downtime to the plant hence affecting Malakoff financial performance (reparation was only completed at the end of Oct 18). Expect Malakoff low contribution to continue in 4Q18. If you are looking to diversify your portfolio outside of MMC (due to its earnings uncertainties and the relatively high valuation) I would recommend you to look at MBMR. MBMR is a direct proxy to Perodua via its 22.6% interest in the company. Valuation is cheap at only 6.9x PE (based on target FY18 profit of RM145mil. 9m profit is already RM106mil). PB is low at only 0.7x BV. 4Q18 results is expected to be higher than 3Q18 and last year's 4Q17. FY19 growth will be driven by the still high demand of the new Myvi and the newly launched SUV Aruz and also the newly revamp Alza in 2H19. The recent announcement of closure and potential disposal of the loss-making alloy wheel manufacturing business alone is expected to boost the company’s profit by an additional RM10mil to RM20mil. I am projecting a profit to shareholder of RM170 mil for FY19 which at the current price values MBMR at only 5.9x PE. Please go through the analyst reports (https://klse.i3investor.com/servlets/stk/pt/5983.jsp) and do your own analysis before making any decisions. There are 8 analysts in total covering the stock with most of them having a TP of above RM3 (all have a buy rating). The average TP for the 8 analysts is around RM3.50. Good luck. 24/01/2019 08:51  |
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