|
| |
Overview
Financial Highlight
HeadlinesBusiness Background MBM Resources Bhd is a Malaysian company which is in the business of motor trading and manufacturing of auto parts. It has Motor trading, Auto parts manufacturing, Property development and Others segments. Motor trading segment covers marketing and distribution of motor vehicles, spare parts and provision of related services. Auto parts segment comprises manufacturing of automotive parts and components, steel and alloy wheels and discs, noise, vibration and harshness products and provision of tyre assembly services. Property segment includes development of menara MBMR and Others segment encompass investment holding, corporate headquarter and dormant companies. Motor trading segment generates most of the revenues for the company.
  SincereStock bought 36 lot at 3.16 just now haha @raksasakambing did u got some too? 31/05/2021 10:52 AM SincereStock possibly the last mco before Malaysia mass immunity, takut apa, this morning free discount on uptrend stock for nothing, no more discount, TP easily rm4 above 31/05/2021 3:34 PM  RaksasaKambing @Sincerestock my TP is a bit lower than current prices. Maybe it won't move much due to high institutional holding 31/05/2021 8:32 PM SincereStock perhaps retailers also learned their leason previously, won't panic selling that much already this time 31/05/2021 9:46 PM PenangLang9180 Previously scheduled to end on June 2021, now extends to the end of this year. https://paultan.org/2021/05/31/government-extends-sst-exemption-period-again-to-dec-30-2021-100-on-new-ckd-cars-50-for-cbu/ 02/06/2021 9:58 AM SincereStock cash > total liabilities = risk free = high potential to improve the already very high dividend payout by further improving EPS or simply recurring current EPS in upcoming QR (current already high DY is still just less than half of the total earning) next QR YoY also has very good chance to improve as the last same QR records negative result, thus further lowering the already very low PE with the release of next QR positive future prospect + loan moratorium + extends of sst excemption undoubtly the current most undervalued among the listed automotive companies 02/06/2021 10:28 PM SincereStock big volume is yet to come since the latest QR released on 27 may, the price has already shown to be moving in positive direction, imagine what will happen when bigger volume come in, don't wait until too late personally myself have just entered this counter since 28 may after research on this company on 27 may, realising it is deeply undervalued. afterward on next trading day 1 june, add on again by successfully buying the dip during the fmco panic sell. currently still holding tight with good paper earning already, can't wait until it fly~! 02/06/2021 10:41 PM SincereStock @flippiwippi definitely, but I already invest major part of my capital here, maybe my mmc capital and profit can go else where, any other good suggestion? 04/06/2021 8:10 AM aliyusof SincereStock, u still keep mmc till SCR completion? Not buying more at 1.81? Mmc really undervalued stock that SM will have it for himself loh... 17/06/2021 12:09 PM SincereStock @aliyusof buy more already at 1.80 earlier, just not all in, need some free cash for opportunity else where also, don't want put all money in 1 basket, beside there is still risk here although it is very very minor one 17/06/2021 12:17 PM aliyusof Agreed. Rsk quite low, think SM will get it at 2. He has very good succesful privatization track record in the past. 17/06/2021 12:23 PM SincereStock market index recovered quite a lot today, mbmr still few steps behind, bauto also just released improved QR, but of course mbmr is still far better, PE 7.15, DY 6.16, NTA clean clean net cash and asset, time for the price to catch up with it's true value good chance to enter or reenter while it is still at weakness next trading day 18/06/2021 11:57 PM Jeffson87 Sincerestock, can consider uchitec. Reasonable PE, high DY, low debt, stable growth. Can have a look for long term investment =) 22/06/2021 11:29 PM SincereStock @Jeffson87 I prefer stock price with NTA discount, anyway thanks for your suggestion 24/06/2021 10:20 PM keithtrade MBMR great value at current price, safe long term investment with a 6% + yield. 25/06/2021 7:43 AM Jeffson87 Sincerestock. I see. Can have a look at Oriental Holding or MFCB then. 26/06/2021 10:35 AM SincereStock @jeffson87 I just checked both, Oriental not bad, cash balance more than total liabilities. I like clean NTA like this. but MFCB actually priced above NTA, the NTA not yet updated after recent stock split. thanks again for your kind suggestions 26/06/2021 12:48 PM RaksasaKambing I believe automotive manufacturing isn't open during MCO. Sales won't be running anyhow, but if they could do some manufacturing during this, there would be more stock ready for when things re-open. The wait time for some car models was quite long due to demand 09/07/2021 2:42 PM shiby @ RaksasaKambing fyi rtd @ jpj office already open since 1st july.but sale for may /june 2021 will report low number due to mco so no need to be panic 13/07/2021 6:44 PM RaksasaKambing One thing to note is how automotive sales work. If you're in F&B and you close for 2 months, those two months are lost because people will just have to get their food elsewhere. When you open back, they don't come and buy the quantity of food they lost for 2 months. Whereas when it comes to buying vehicles, if you are going to buy a car in 2021/22, it doesn't matter that you can't buy during a certain month. The pent-up demand will come back when the stores re-open. With that said, it is still important that the economy does well. If people don't have money, they can't buy cars. But overall I do not expect the total sales to be much affected by the intermittent closures. More important is whether production levels stay up and the marques we invest in continue to offer competitive models that the market wants. 14/07/2021 9:36 AM wallstreetrookie With fewer new cars being made amid a shortage in critical semiconductors, both retail consumers and rental car companies have gone to the used-vehicle market to get the wheels they need. Wholesale prices have soared as a result, up 54% in April from a year earlier at Manheim, the nation’s largest vehicle auction house. Most analysts say the increase in car prices, like the spike in inflation as a whole, will likely be transitory as production ramps up and demand subsides. Auto sales had soared amid a pandemic-era boom in road trips and hesitancy to take public transportation, trends that look likely to fade over coming months. 21/07/2021 4:10 PM charliecharlie juz sold my holdings in this counter, swapping it to General motor...hope our beloved administration dun drag all the counters to a few years behind / backwards 22/07/2021 3:15 PM PenangLang9180 https://www.theedgemarkets.com/article/auto-sales-shrank-1921-units-june-maa-trims-tiv-forecast Malaysia's Automotive Association (MAA) reduced Total Industry Volume (TIV) Forecast 23/07/2021 5:13 PM RaksasaKambing Depends on your needs and investment strategy. This is the 'buy and then close eye' type of counter. Not very volatile, backed up by high NTA, pays you dividends. The next quarter report will be good but subsequent quarter not good due to FMCO, but you can expect a bounce back in Q4 of this year and Q1-2 of next year. Most likely the SST holiday will be extended yet again. Current entry price is reasonable. 27/07/2021 10:08 AM tailangong No people buy car but got people maintain car ma..major downturn is due to foreign investors all run la. Our political situation so worse, 11/08/2021 11:13 PM  EatCoconutCanWin Ppl already suffer covid, no money, no eat, no income, all loan. Buy car for what, siao meh. Last time can buy new car as want to show off during cny , raya or Christmas. Now no die of covid can d. Impossible august got selling 6000+ car , this info really misleading. I didn't see new plate on car. TP 1.50 04/09/2021 9:34 AM PenangLang9180 EatCoconutCanWin Perodua reduced its sales target to 214k from 250k previously for FY2021 it's lower than 2018 (227k),2019 (240k) and 2020 (220k) historical sales but still higher than my expected sales given that they have been facing chip shortage and shut down of production plants and showroom. In many places of Malaysia including KL and Selangor, personal vehicle is a neccessity and Perodua offers the most affordable cars starting at 30k and with 7-yeras loan, monthly payment is less than RM600 for the cheapest AT Axia and slightly under RM650 for the cheapest AT Bezza. Of course you could argue that 2nd hand cars and motorcycle is another option, but they serve a different group consumers most of the time. I think bad economy not a major concern to Perodua sales, since given the adverse economic prospect Perodua is expected to eats up marketshare from more premium foreign brands as well. 04/09/2021 10:22 AM RaksasaKambing The hierarchy is (generally) as such: used vehicles -> national vehicles -> Japanese/Korean -> Continental -> Luxury. What we find is that a lot of the middle class people who usually buy Japanese are more likely to drop down to national vehicles for cost savings. Proton is the main competitor to Perodua in the lower segments (Saga vs Bezza, Myvi vs Iriz) but we find that their new Geely-based products like X50 and X70 are more like eating up the upper tier Japanese and Conti sales (e.g. buy X70 instead of CX-5, X1 or CR-V), rather than eating up Perodua sales. So we just compare la, between the Perodua and Proton of similar segment: Axia vs No competitor (Axia win) Bezza vs Saga (Even. Bezza more popular for fuel economy & higher tech, Saga cheaper and better handling) Myvi vs Iriz (this one I don't need to say). No competitor vs Persona (Persona win) Exora vs Alza (Exora wins by a bit, but both models are going to be phased out. Aruz much more expensive than both, currently no competitor). Look at the sales figures you can see Proton good sales is Saga and Persona, by a lot. Perodua on the other hand has high sales for Axia and Myvi, commendable sales for Bezza and Aruz. Ativa occupies a unique segment in the market and it's hard to say how much overall it will contribute, but the sales so far have been good la. Perodua's order book is full till the end of the year. Their focus is on production now. Any new bookings must come next year liao. Laku or not? 04/09/2021 1:16 PM  | | ||||||||||||||||||||||||||||||||||||||||||||||
