Highlights
KLSE: MFCB (3069)       MEGA FIRST CORP BHD MAIN : Utilities
Last Price Today's Change   Day's Range   Trading Volume
5.28   -0.01 (0.19%)  5.27 - 5.32  205,100
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Overview

Market Cap: 2,337 Million
NOSH: 443 Million
Avg Volume (4 weeks):995,247
4 Weeks Range:4.92 - 5.59
4 Weeks Price Volatility (%):
53.73%
52 Weeks Range:3.28 - 5.59
52 Weeks Price Volatility (%):
86.58%
Average Price Target: 5.32
Price Target Upside/Downside: +0.04
Stamp duty exempted for year 2020

Financial Highlight

Latest Quarter | Ann. Date 30-Sep-2019 [#3]  |  18-Nov-2019
Next QR | Est. Ann. Date: 31-Dec-2019  |  27-Feb-2020
T4Q P/E | EY: 22.99  |  4.35%
T4Q DY | Payout %: 0.34%  |  7.74%
T4Q NAPS | P/NAPS: 3.2032  |  1.65
T4Q NP Margin | ROE: 15.68%  |  7.17%

Headlines

Date Subject
21-Jan-2020 COMMENTS ON MEGA FIRST CORP BHD (3069) - louisesinvesting
16-Jan-2020 MFCB - Begins Transmission To Cambodia
13-Jan-2020 [转贴] Fb Live : 浅谈Right Issue 之MFCB - Harry
12-Jan-2020 [转贴] [Facebook live video:浅谈Mega First Corp Bhd (MFCB)] - James的股票投资James Share Investing
11-Jan-2020 热门股:美佳第一上挑RM5.73
30-Dec-2019 美佳第一WA低成本参与增长 母股重返90年代辉煌期/温世麟硕士
23-Dec-2019 Edge Weekly Lead Story: Stocks that are undervalued by the market
19-Dec-2019 Stocks on Radar - Mega First Corporation (3069)
12-Dec-2019 Trading Stocks - Mega First Corporation
12-Dec-2019 Daily technical highlights – (MFCB, AEONCR)
20-Nov-2019 [转贴] [MEGA FIRST CORP BHD:Électricité du Laos(“ EDL”)通往老挝/柬埔寨边界的500KV旁路传输线以及Electricite Du Cambodge(“ EDC”)] - James的股票投资James Share Investing
19-Nov-2019 Mega First Corp. - Expecting a Bumper 4Q19
19-Nov-2019 MEGA FIRST CORPORATION - Time to Monetise Don Sahong Hydropower
19-Nov-2019 Mplus Market Pulse - 19 Nov 2019
14-Nov-2019 Mega First Corporation - Shifting Into Commercial Operation
14-Nov-2019 Mplus Market Pulse - 14 Nov 2019
06-Nov-2019 Trading Stocks - Mega First Corporation
06-Nov-2019 Daily Technical Highlights – (MFCB,GENTING)
06-Nov-2019 【视频】美佳第一 寮国电业渐入佳境
06-Nov-2019 上升股:美佳第一阻力RM4.68

Business Background

Mega First Corp Bhd is an investment holding company. The group is organised into three main business segments as follows - Power, Resources, and Property. The Power segment builds, owns and operates power plants. The Resources segment is engaged in quarrying of limestone manufacturing and trading of lime products, calcium carbonate powder, and bricks. The Property segment is engaged in the property development and property investment. Its primary geographic markets are Malaysia, China, Laos, India, Australia, New Zealand and other countries. The majority of its revenue is derived from Laos.
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  10 people like this.
 
pjseow Gemfinder, you are entilted to your opinion. The fact was that despite mfcb had a bad Q3 results both in terms of qoq and yoy, both IBs upgraded the tgt prices from rm 5.00 to 5.50 by maybank and from 5.04 to 5.71 by Public Invest respectively. As for Jaks ,.I will.give my more detailed comments in.Jaks forum. Both public invest and affin.bank also upgraded the Jaks tgt prices by 33.3 and 20 % respectivrly despite poorer qoq result in Q3. What is the key factor which.make these IB s to upgrade their tgt prices despite poorer results than previous qtrs.?
11/01/2020 9:56 PM
Samtuckfatt That is similarity between sharesinvestor88 comment in MFCB with Gemfinder in Jaks.
11/01/2020 10:20 PM
Hopeful No doubt the Don Sahong Power Division will be the superstar business segment for MFCB for years to come.

What about their Solar Division? Maybe this will develop into another profitable segment.

Extract from MFCB Bursa announcement on 14 August 2019 :

(ii) OPTION AGREEMENT ENTERED BETWEEN MENTERI BESAR INCORPORATED (PERAK) AND
BAYANGAN SUTERA SDN BHD
1. INTRODUCTION
Bayangan Sutera Sdn Bhd, a 80% indirect subsidiary of the Company (“BSSB”) had on 13
August 2019 entered into an Option Agreement with Menteri Besar Incorporated (Perak)
(“MB Inc.”).
2. DETAILS OF THE OPTION AGREEMENT
2.1 The Land
MB Inc. is the registered proprietor of an approximately 688.89 acres 99-year leasehold land
in Daerah Kinta in the state of Perak Darul Ridzuan. (“the Land”)
2.2 Consideration
BSSB hereby agree to fully and unconditionally accept the assignment of the commitment fee
paid by Teratai ANR Sdn Bhd (“TASB”)/Teratai Kembara Sdn Bhd (“TKSB”) pursuant to the
Deed of Revocation entered with the detailed as mentioned in the above announcement.
2.3 Option
BSSB shall be entitled from time to time and at any time within the Option Period (as set forth
below) to :
i. to lease the Land from MB Inc.; or
ii. to buy the Land with MB Inc.
2.4 Option Period
Option period commencing from the date of this Option Agreement until 31 December 2020
or such later as may be agreed between MB Inc. and BSSB for BSSB to exercise either the
option to lease or to buy the Land.
A further detailed announcement will be made when the option is exercised by BSSB during
this Option Period.
12/01/2020 5:27 AM
Hopeful Extract from Public Bank Invest Research :

Eyeing solar projects. MFCB and Pekat Teknologi S/B have recently established a 55: 45 joint venture called MFP Solar S/B to undertake solar projects up to 10MW in Malaysia, which is believed to give far better investment returns of 10%-12%. MFP Solar S/B will be the engineering, procurement and construction and commissioning (EPCC) contractor to undertake the installation of solar power projects on the rooftop of industrial and commercial buildings under various models, namely, Build-Operate Transfer (BOT), outright sale or leasing. MFCB will ride on Pekat Teknologi’s vast experience in the solar industry. For a start, the JV intends to tap on multi-national companies for opportunities.

So, if we add the above move with Minister Yeo Bee Yin's push ( see article below) for more Renewable Energy, then MFCB's future has just become more and more cantik...

https://www.theedgemarkets.com/article/special-report-reform-fast-becoming-only-choice
12/01/2020 5:40 AM
bzeew Yes, more and more cantik.
12/01/2020 11:32 AM
lloydlim 10MW project in Solar industry just a small project but consider a good start.
12/01/2020 12:24 PM
Samtuckfatt https://klse.i3investor.com/m/blog/nanyang_warrants/2019-12-30-story-h1481971454.jsp
12/01/2020 12:54 PM
Dangel Time to load more!
12/01/2020 4:23 PM
James Ng https://klse.i3investor.com/blogs/general/2020-01-12-story-h1482127039.jsp
[转贴] [Facebook live video:浅谈Mega First Corp Bhd (MFCB)] - James的股票投资James Share Investing
12/01/2020 9:26 PM
limcs 关键性的辽国--柬埔寨500KV输电网工程如期完工,为2020年1月7日的两国首次电网接通输电打下了坚固的基础。

1月7日下午5时顺利的把电流输送到柬埔寨后,美佳第一(MFCB,3069)持有80%股份的东萨宏水电站内一片欢呼声,

在场的两国能源部官员与工程师们拍手庆祝,大家都知道这一天来之不易。

官员们分别在两地举行了简单的祭拜仪式,感谢上天保佑水电站在经历了超过15年的策划与建设,终于顺利供电。

美佳第一发展的东萨宏水电站因为地理位置与优越的地形及水资源丰富关系,从一开始就受到了各个利益集团的关注,在种种方面不断的提出反对,但最终还是过关斩将,把这个助力辽国成为“东南亚蓄电池”的关键发电站完美竣工。

https://www.facebook.com/groups/726842394052430/permalink/3410833765653266/
13/01/2020 9:19 AM
limcs @shareinvestor88 , what price unload or load ? :)
13/01/2020 10:40 AM
utopia86 @shareinvestor88, You have been talking about TP and sell since RM4.5, but why are you still holding MFCB ticket until now?
13/01/2020 11:07 AM
lloydlim One day we shall c MFCB trading at 7 so just be patience.
13/01/2020 1:29 PM
utopia86 It's just like, "see there is a car accident", so don't drive any car to prevent the accident. Better stay at home and do nothing. Zero risk, zero return.
13/01/2020 2:54 PM
Davidl Perhaps shareinvestor88 is waiting for correction to reenter.
13/01/2020 4:14 PM
Samtuckfatt Shareinvrstor88 must be very happy because it drop 2Cent today after his sell call moon ago.
13/01/2020 5:47 PM
KL Tneoh Full transmission power (195MW) to Cambodia started

http://annx.asianews.network/content/laos-begins-transmission-195mw-electricity-cambodia-111890
14/01/2020 8:41 AM
pjseow KL Tneoh , thanks for sharing
14/01/2020 10:53 AM
gemfinder rm6 coming!!!!
14/01/2020 12:06 PM
limcs Wow good news !
14/01/2020 12:16 PM
Samtuckfatt Good news KL Tneoh.
14/01/2020 12:55 PM
The_Reds Laos is damn good in doing bizness...
14/01/2020 1:15 PM
Samtuckfatt Fully utilise the natural resources to produce & sale electricity.
14/01/2020 3:27 PM
limcs @shareinvestor88, welcome back :)
14/01/2020 7:31 PM
imlearning Everybody hold tight ,huat huat huat !!!
15/01/2020 10:58 AM
Samtuckfatt Shareinvestor88, ya, don't hold, just let go..
Put in freeze or safety box.
15/01/2020 3:53 PM
Collin Soo Congratulation to all shareholders..Although i don't have MFCB, but i hope my JAKS will perform well like MFCB by end of this year.
15/01/2020 3:55 PM
VivoPrince Holding steady but finding it tough to sustain above RM5.50.
15/01/2020 5:26 PM
Samtuckfatt Collin Soo, sure, today Jaks already on the move.
15/01/2020 5:33 PM
Collin Soo Samtuckfatt, thanks. Sky is the limit for both MFCB and Jaks now!
15/01/2020 5:38 PM
Jaack1 https://cdn1.i3investor.com/my/files/dfgs88n/2020/01/16/1512572546--614335868.pdf

PUBLIC INVESTMENT BANK LATEST REPORT. 12 MONTHS TARGET RM 6.29
16/01/2020 9:43 AM
gemfinder 6.29 TP !!!!!! YAHOOOO
16/01/2020 10:23 AM
pjseow Jaack, thanks fir sharing the good news. Tgt price increased from.rm 5.71 to 6.29 。MFCB will continue to move up
16/01/2020 10:34 AM
probability MFCB - Begins Transmission To Cambodia

Date: 16/01/2020

Source : PUBLIC BANK
Stock : MFCB Price Target : 6.29 | Price Call : BUY
Last Price : 5.46 | Upside/Downside : +0.83 (15.20%)



We came away from our meeting with Mega First (MFCB) last Friday with the confirmation that constructions of the Don Sahong Hydropower plant together with the transmission lines in Laos and Cambodia have been fully completed. All four turbines are fully commissioned amid the on-going dry season in Laos. The company is also escalating the process for the construction of a 5th turbine which is expected to take about 2 years. Given the softer global interest rate environment, we impute lower borrowing costs at both the operating (Don Sahong plant) and Group (MFCB) levels, which consequently lifts our SOP based TP to RM6.29 (RM5.71 previously). Outperform call is affirmed.

Selling 195MW to Cambodia. 195MW of power generated from 3 turbines is transmitted from the plant in the Champassak province to the Stung Treng electricity substation in Cambodia through the new high voltage 500kV transmission lines. The remaining 65MW will be channeled to the Ban Hat substation for domestic usage. Under the purchase agreement, the Cambodian government will buy a total of 2,900MW from Laos between 2020 and 2027, of which 500MW will come from hydropower plants at a price of 7.29 US cents/kWh and 2,400MW from coal-fired power plants for 7.70 US cents/kWh. Meanwhile, Electricite du Laos will purchase the power from the Don Sahong hydropower plant at a price of 6.15 US cents/kWh based on a “take or pay” basis.

Depending on the availability of electricity production. Though the four turbines have a combined installed capacity of 260MW/hour which can generate up to 2,000 GWh p.a., electricity production will ultimately be subject to water levels. Based on our channel checks, water levels have dropped by 10% from its normal level as the country is currently experiencing dry weather conditions until late-April. The utilization rate is expected to be lower in the coming months, averaging 76%-81%. Our assumption is based on a full-year utilization rate of 88% as electricity production could potentially hit maximum capacity during the wet period in May-Sept.

5th turbine on the way. Management has received approval-in-principle for a 5th turbine at the same site. The targeted capacity is around 50MW-65MW with an expected capex of USD50m-60m. Management plans to speed up the approval process before its EPCC contractor, Sinohydro re-mobilizes its resources elsewhere. It will be a key re-rating catalyst for the Group, potentially contributing an additional 20%-25% to the Group’s bottomline starting from 2022.

Lower borrowing costs. We cut our assumption on the finance cost by 1.5% at both the operating (Don Sahong) and Group (MFCB) levels in light of the softer interest rate environment. However, the earnings impact is relatively small as the cost saving was offset by lower earnings forecasts on the resources segment given the weak global demand. Our TP is consequently lifted to RM6.29 from RM5.71. Meanwhile, management had earlier guided that the Don Sahong project cost will be lowered from USD401m to USD366m given the lower-than-expected borrowing costs
16/01/2020 10:36 PM
pjseow probability. welcome to mfcb forum
16/01/2020 11:38 PM
limcs interested in what is maybank's point of view :P
17/01/2020 9:38 AM
pjseow limcs, sure we are interested. Had maybank.given.a.similar upgrade like what public invest did? The.last tgt price.from maybank.was 5.50.
17/01/2020 10:57 AM
limcs @pjseow, hopefully maybank can give higher tp :) such as RM 9 !
just kidding
17/01/2020 11:04 AM
pjseow limcs, I think.maybank.might give higher tp of around 6.00 but not 9 .
17/01/2020 3:22 PM
limcs @shareinvestor88, you buy back ?
17/01/2020 3:51 PM
utopia86 I honestly think that @shareinvestor88 is one of the stock market guru who constantly on sell call so that he can collect. He might potentially holding huge amount of sold ticket from the sell call. He is extremely smart!!
17/01/2020 4:13 PM
LouiseS MFCB's main business segment is building and operation of the new power plant at Laos.

MFCB's earning performance has been overall rising in last five years, whereby its earning per share overall increased from 27.5 sen to 33sen. This is reflected in current rise in the share price, outlook in next few years is promising as power plant in Laos commence operation. MFCB pays dividend consistently in the last five years, whereby dividend per share ranged from 4 to 8 sen per share. In FY2018, total dividend paid to shareholders was 4 sen per share, amounting to a dividend yield of 0.72%. Currently the P/E ratio is ~24.

https://louisesinvesting.blogspot.com/2020/01/comments-on-mega-first-corp-bhd-3069.html
21/01/2020 11:50 AM
pjseow LouiseS, Public Invest upgraded the tgt prices a few times premised on.2020 earnings when the Don.Sahong power plant went operation with projected eps of 50 sen. The forward looking PE is 11 instead of 24 of past earnings. The other attraction.is the projected dividend of 30 sen which will.give a dividend yield of 5.5 % at current price.
21/01/2020 5:44 PM
kenken85 I agree v u 88. I run also
22/01/2020 6:08 PM
Joe Ng Great chance to collect
22/01/2020 6:47 PM
pjseow The last public.invest report highlited that the Don Sahong power plant is capable to.produce 2000GW of electricity per year. With.the average of US 0.07 per kwh , the annual revenue is rm 460 million. With the estimated earning of 250 million, the gross margin is 54%.With full conversion of warrants in April , the total number of shares is 474 million which will give an eps of 53 sen. .With estimated eps of 5.sen from the resource and property division.and another 8 sen from the5th turbine project, the total eps will be about 66sen.
22/01/2020 10:46 PM
shareinvestor88 TIME to sell ?
23/01/2020 8:05 AM
gkyt88 collect n wait
23/01/2020 8:26 AM
lloydlim Beware of correction guys!
23/01/2020 2:04 PM
shareinvestor88 Ya better sell
24/01/2020 12:02 AM


 

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