KLSE: MKH (6114)       MKH BHD MAIN : Property
Last Price Today's Change   Day's Range   Trading Volume
1.18   +0.01 (0.85%)  1.16 - 1.19  329,500
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Ann. Date Ex Date Payment Date Type Subject Amount View
17-Dec-1999 14-Jan-2000 20-Jan-2000 DIVIDEND First and Final Dividend 3% Dividend Detail
17-Jan-2001 19-Feb-2001 02-Mar-2001 DIVIDEND First and Final Dividend 3% Dividend Detail
04-Jan-2002 29-Jan-2002 08-Feb-2002 DIVIDEND First and Final Dividend 3.5% Dividend Detail
17-Sep-2002 03-Oct-2002 07-Oct-2002 RIGHTS_ISSUE Rights Issue 1 : 4 Dividend Detail
17-Sep-2002 03-Oct-2002 07-Oct-2002 BONUS_ISSUE Bonus Issue 1 : 4 Dividend Detail
30-Dec-2002 28-Jan-2003 21-Feb-2003 DIVIDEND First and Final Dividend 3.9% Dividend Detail
05-Jun-2003 25-Jun-2003 11-Jul-2003 DIVIDEND First Interim Dividend 2% Dividend Detail
15-Jan-2004 12-Feb-2004 24-Feb-2004 DIVIDEND Final Dividend 3.5% Dividend Detail
30-Jul-2004 24-Aug-2004 26-Aug-2004 BONUS_ISSUE Bonus Issue 1 : 3 Dividend Detail
09-Nov-2004 03-Dec-2004 13-Dec-2004 DIVIDEND First Interim Dividend 4% Dividend Detail
07-Oct-2005 07-Nov-2005 16-Nov-2005 DIVIDEND First Interim Dividend 5% Dividend Detail
09-Aug-2006 08-Sep-2006 20-Sep-2006 DIVIDEND First Interim Dividend RM 0.05 Dividend Detail
18-Sep-2007 10-Oct-2007 24-Oct-2007 DIVIDEND First Interim Dividend RM 0.05 Dividend Detail
04-Sep-2008 19-Sep-2008 08-Oct-2008 DIVIDEND First Interim Dividend RM 0.05 Dividend Detail
09-Sep-2009 28-Sep-2009 19-Oct-2009 DIVIDEND First Interim Dividend RM 0.05 Dividend Detail
08-Mar-2010 17-Mar-2010 19-Mar-2010 BONUS_ISSUE Bonus Issue 1 : 20 Dividend Detail
27-Sep-2010 13-Oct-2010 28-Oct-2010 DIVIDEND First Interim Dividend RM 0.05 Dividend Detail
25-Feb-2011 10-Mar-2011 14-Mar-2011 BONUS_ISSUE Bonus Issue 1 : 10 Dividend Detail
08-Feb-2012 14-Mar-2012 26-Mar-2012 DIVIDEND Final Dividend RM 0.05 Dividend Detail
08-May-2012 18-May-2012 22-May-2012 BONUS_ISSUE Bonus Issue 1 : 10 Dividend Detail
26-Nov-2012 06-Dec-2012 10-Dec-2012 RIGHTS_ISSUE Rights Issue 1 : 10 Dividend Detail
09-Jan-2013 19-Feb-2013 05-Mar-2013 DIVIDEND Final Dividend RM 0.05 Dividend Detail
09-Dec-2013 19-Dec-2013 31-Dec-2013 DIVIDEND First Interim Dividend RM 0.1 Dividend Detail
29-Apr-2014 15-May-2014 19-May-2014 BONUS_ISSUE Bonus Issue 1 : 5 Dividend Detail
10-Oct-2014 29-Oct-2014 11-Nov-2014 DIVIDEND First Interim Dividend RM 0.08 Dividend Detail
27-Nov-2015 16-Dec-2015 31-Dec-2015 DIVIDEND First Interim Dividend RM 0.0700 Dividend Detail
25-Nov-2016 14-Dec-2016 30-Dec-2016 DIVIDEND First Interim Dividend RM 0.07 Dividend Detail
17-Apr-2017 28-Apr-2017 03-May-2017 RIGHTS_ISSUE Rights Issue 1 : 10 Dividend Detail
28-Nov-2017 22-Dec-2017 11-Jan-2018 DIVIDEND First Interim Dividend RM 0.05 Dividend Detail
30-Nov-2018 21-Dec-2018 10-Jan-2019 DIVIDEND First Interim Dividend RM 0.035 Dividend Detail
Analyze this stock with MQ Trader system

  12 people like this.
WICKEY Run run run
20/09/2018 17:35
sowsc1987 Undervalue stock,final quatar “saville cheras property will hand over,Hillpark Shah Alam maple will hand over too and palm 延迟进账的会在last quatar 放映。。。I think Kajang East also good take up rate .....
22/09/2018 08:31
bclim_83 It is undervalued. In long term it is good company to invest in. But, in near term its earning will be impacted by weakened rupiah and CPO price
24/09/2018 09:07
Aero1 ... and the 10 acres land in China converted to property investment status ... plus borrowings are being liquidated ... Indonesia operations are now cash generation ... plus take-over target ... BUT the share price still drops
24/09/2018 16:17
K.H https://eresearchsystem.bursamalaysia.com/eResearch/webdownload.pub?id=21228
25/09/2018 16:21
Aero1 This poor analyst Quah keeps asking to buy but keeps lowering the target price.
26/09/2018 08:29
Aero1 Good level to aggressively share buyback .. benefit all. Now Quah should ahead of the curve call TP RM1.00 (not met never mind lah since his call all along not met).
27/09/2018 08:53
K.H MKH sees profit rebounding in FY19 after hitting five-year low | http://www.klsescreener.com/v2/news/view/437158
01/10/2018 12:16
Aero1 Why nobody asks about the property in China?
01/10/2018 18:04
Aero1 https://www.thestar.com.my/business/business-news/2018/10/17/mkh-selldown-overdone-says-alliancedbs/

Poor Alliance .. always on the wrong side of the forecasting. Call TP RM1.00 before rebounding please.
17/10/2018 09:16
RVI123 MKH's Hillpark Puncak Alam has come to the tail end of the development. Anyone knows if MKH has other land or joint venture land in the nearby area?
20/10/2018 21:38
sowsc1987 Mkh coming year will focus on kajang 2 development....director say on agm.....
21/10/2018 09:15
RVI123 @sowc1987, I did not attend the AGM. Can share some important items clarified by the directors?
21/10/2018 23:19
sowsc1987 One more good property company(selangor property) get private.....
25/10/2018 21:35
shareinvestor88 Sell TP 80c
29/10/2018 23:23
CK Sian counter....... got JV news also not feeling......
30/10/2018 14:33
enid888 MKH should be another beneficiary of the coming budget. MKH has quite many projects that fall under the affordable category especially two of them are under PRIMA. Incentives will be announced for the affordable housing sector in the coming budget.
02/11/2018 00:07
RVI123 Good budget for affordable house buyers especially those first time buyers.
02/11/2018 20:53
sowsc1987 expecially for the developer build TOD concept house"petrol price will expensive"+monthly RM100 unlimited public transport
03/11/2018 09:32
sowsc1987 TOD house will the future market trend.....link almost the klang vally
03/11/2018 09:33
enid888 In this week's TheEdge, The MD said that MKH is one of the biggest TOD developers in the market. MKH has land near to 7 MRT or KTM Station. MKH has lands near to Titiwangsa, Batu 11 Cheras, Sungai Jernih, Kajang Stadium, Kajang MRT stations. It also has lands near to Kajang 2 and Nilai KTM Komuter stations. I think MKH could actually be the biggest TOD developer in Malaysia.
05/11/2018 01:40
commonsense 4Q18 result (ending september) should be higher than last year mainly driven by the plantation division from higher production and sales of palm oil products.

Hopefully the property development and construction division would also make a rebound from the 3Q18 low backed by the RM999mil unlbilled sales as of Jun 2018.

Major shareholder and the company itself have been aggressively buying the shares from open market starting from the RM1.40 level which show that the current price is considered undervalue by company's insider. This provide a firm support level of share price at RM1.20.

Can anyone provide a target PATAMI for FY 2019? I have target PATAMI of around around RM88mil assuming the plantation production level maintains at the current year average and CPO price average at around RM2000 per tonne. Assuming also a better revenue and profit generation from progressive billings of existing projects. At the current market cap, it would value the company at around 8.3x fwd PE.

Please take note that the average PATAMI for the company in the past 5 years has always been higher than RM100mil. But mostly it is dependent on the property development and construction division.
16/11/2018 10:14
commonsense Hi enid,

You seem to have a lot of knowledge about the company.

I am currently rereading the 2017 annual report of MKH. In the management discussion they mentioned that one of the reason for the lower rev and pbt of property development & construction is due to the tail end phase of some of the project (which include handover of vacant possession).

I had always assume that at the tail end of a property project, companies profit margin would be higher (especially during handover of vacant possession) as there will be lower cost incurred.

Is this correct?

Thanks in advance.
21/11/2018 09:20
commonsense Enid,

Do you have any profit projection for FY19?

4Q18 (end sept) should show growth because of better performance from the plantation division. But this all depends on the Forex. IDR has actually weaken a lot if compared to RM and USD for period between July to Sept 2018. That being said i still think the group will show good PATAMI vs last year's result.

4Q18 PATAMI between RM15mil to RM20mil. Do you agree?
21/11/2018 09:44
lcng123 I think plantation sector will post a minor gain due to lower cpo selling price (despite higher ffb output) and weak rupiah against usd. but hopefully more unbilled sales propertise can be recognised to boost up in the coming quarter result.
21/11/2018 11:54
Aero1 Dividend coming?
22/11/2018 08:28
lcng123 i think next month....
23/11/2018 15:21
commonsense Hi icng,

I think they still can record a commendable profit for 4Q18 based on their performance on 3Q18. The biggest risk to profit for me is the weak rupiah rather than the lower selling price of CPO. Hopefully there are no longer any delay in the progress of Hill Park Shah Alam.

Dividends are normally announce in 1Q result (in Feb) and paid in 2Q.
24/11/2018 06:09
commonsense Icng,

Average CPO price for 4Q18 (jul - sep) was around RM2100 - 2200 per MT. Hence why i think that the plantation division profit contribution should still be above RM10mil.

However for 1Q19, i might be a bit worried. The CPO price tumble last week to RM1,716/MT on thursday which was the lowest since 2008. Hopefully it will rebound back soon.

24/11/2018 09:09
lcng123 commomsense, from the past record, mkh used to announce dividend in Nov. ex on Dec and pay on Jan
25/11/2018 07:21
commonsense Hi Icng,

Ur right. i was using the financial result announcement as reference to the payment date. Should have used the entitlement announcement instead.

Thanks for correcting me.
25/11/2018 07:33
enid888 @commonsense, I supposed that the tail end phase that the management refers to is the construction progress where most of the physical work has been completed but before the handover to the buyers. During this phase, the developer and contractor are doing the touch-up work, arranging Bomba testing and applying for other authority approvals.

You are right, usually there will be a higher profit being booked after the handover of the units to the buyers.
26/11/2018 01:19
enid888 @commonsense, it is very hard to predict the quarterly profits unless we follow the site progress and site progress claim ourselves. I am not working in MKH, therefore I do not know. However, MKH management predicts that the profits for the next year will be good because the site progress will be faster and sales will be better.
26/11/2018 01:25
commonsense Hi enid,

Thanks for the explaination. Hope MKH can post good result for 4Q18.
26/11/2018 06:12
CK http://www.enanyang.my/news/20181125/%e3%80%90%e7%8b%ac%e5%ae%b6%e3%80%91%e9%81%ad%e9%80%a2%e6%81%90%e6%80%96%e5%b9%b4-%e4%bb%b7%e6%a0%bc%e8%b7%8c%e7%a0%b42%e5%8d%83-%e6%8e%a2%e7%b4%a2%e6%a3%95%e6%b2%b9%e5%89%8d%e8%b7%af-2/
26/11/2018 08:04
lcng123 unbilled sales kept increasing, now hit nearly RM1bil ... it is time to recognised in this coming quarter result.
27/11/2018 06:20
Aero1 https://www.reuters.com/article/indonesia-palmoil/update-2-indonesia-to-drop-palm-oil-levy-as-farmers-hit-by-price-fall-idUSL4N1Y13EO

Good News!
27/11/2018 10:03
Aero1 Another Good News !
27/11/2018 13:02
lcng123 report said mkh hit RM820mil property sales for fy2018. this may bring a strong Q4 result for mkh.
27/11/2018 15:05
dnlt As we are expecting properties going to be OK, the plantation segment is not likely to perform. CPO around RM2K and don't know how much for the fair value adjustment in Indonesia operations in the coming report.

Company is cheap so it's good to see the insiders are buying. It's also a final Q so it will be bundled with dividends. Hopefully 0.05-0.06.
28/11/2018 08:44
kenken85 any chance result is in red? hehe
29/11/2018 19:11
CK Bad Qtr result......
30/11/2018 18:15
commonsense 4Q18 result was lower than expectation. PAT was lower mainly due to the high tax rate of 66% of PBT. That being said PBT of RM26.1mil is still lower compared to 4Q17 RM26.6mil.

Lower PBT mainly from disappointing result of plantation division which recorded a loss of -RM5.4mil due to forex loss of -RM9.8mil and lower average selling price of CPO and palm Kernel.

There was one exceptional item that caught my eye. A land donation amounting to RM9.5mil. If you were to exclude this, PBT would have been RM35.6mil.

At current price and based on a trailing 12 month PATAMI of RM69mil, the company is currently being valued at 9.9x PE. However given the below par result of 4Q18, i am not sure if PATAMI will sustain at that level for FY19.

Would suggest to wait for next quarter result before making decision to buy into the company.

For those that are interested in Property stocks, you could look at both Ewein and Eupe. Valuations are low in terms of PE and just like MKH, they are also trading at a discount to their book value. Both are expected to post better profit results for coming quarters.

For plantation stock, i have yet to seen any stocks that are currently trading at low PE (after excluding none recurring items) but i think this is normal given the current market condition where CPO is currently at the bottom. Feel free to suggest if you manage to find any.

Other stock that you might want to consider is MBMR which provide direct exposure to Perodua via its 22.6% interest in the company. Valuation is low at 5.5x PE (target 2018 PATAMI of RM145mil. 9m PATAMI is already at RM106 mil). PB is less than 0.5x.

01/12/2018 07:13
lcng123 By looking at rupiah appreciated against USD and Ringgit 4%-5%, unrealised forex gain about RM10mil will be expected.
01/12/2018 12:44
Aero1 Interest expense reduced a lot
01/12/2018 16:39
CK Hmm....stay at 3.125....dunno how long can leave this .....
02/12/2018 10:57
kenken85 I m waiting for the beloved analyst to lower down his target price further. haha
03/12/2018 11:27
Aero1 The quality of its assets improves ..
1. Indonesia's palm oil levy relaxed
2. High over a billion ringgit unbilled properties
3. Higher free cash flow with lower borrowings and capex
4. Some properties matured to be turned into property investment
5. Positive repercussion from the land donation to build a Chinese school
6. Company shares buyback
7. Continuous support from key shareholder Public Bank as vote of confidence
8. Directors have been buying its shares
06/12/2018 10:02
lcng123 I am waiting it's share price to drop further.... RM1.20 damn cheap
06/12/2018 14:14
shareinvestor88 SELL TP 50c
08/12/2018 11:18


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