Highlights
KLSE: MFCB (3069)       MEGA FIRST CORP BHD MAIN : Utilities
Last Price Today's Change   Day's Range   Trading Volume
7.40   +0.17 (2.35%)  7.23 - 7.40  882,400
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Financials


Market Cap: 3,657 Million

Market Cap 3,657 Million
NOSH 494 Million

Latest Audited Result:  31-Dec-2019

Latest Audited Result: 31-Dec-2019
Announcement Date 02-Jun-2020
Next Audited Result: 31-Dec-2020
Est. Ann. Date: 02-Jun-2021
Est. Ann. Due Date: 29-Jun-2021

Latest Quarter:  30-Jun-2020 [#2]

Latest Quarter: 30-Jun-2020 [#2]
Announcement Date 19-Aug-2020
Next Quarter: 30-Sep-2020
Est. Ann. Date: 18-Nov-2020
Est. Ann. Due Date: 29-Nov-2020
QoQ | YoY   41.68%  |    266.14%

Annual (Unaudited) ( EPS: 31.10, P/E: 23.80 )

Revenue | NP to SH 701,933  |  153,668
RPS | P/RPS 142.04 Cent  |  5.21
EPS | P/E | EY 31.10 Cent  |  23.80  |  4.20%
DPS | DY | Payout % 4.88 Cent  |  0.66%  |  15.71%
NAPS | P/NAPS 3.08  |  2.40
YoY   18.88%
NP Margin | ROE 25.13%  |  10.11%
F.Y. | Ann. Date 31-Dec-2019  |  25-Feb-2020

T4Q Result ( EPS: 47.86, P/E: 15.46 )

Revenue | NP to SH 662,983  |  236,533
RPS | P/RPS 134.16 Cent  |  5.52
EPS | P/E | EY 47.86 Cent  |  15.46  |  6.47%
DPS | DY | Payout % 10.10 Cent  |  1.36%  |  21.10%
NAPS | P/NAPS 3.43  |  2.16
QoQ | YoY   33.32%  |    88.93%
NP Margin | ROE 41.43%  |  13.94%
F.Y. | Ann. Date 30-Jun-2020  |  19-Aug-2020

Annualized Result ( EPS: 56.15, P/E: 13.18 )

Revenue | NP to SH 683,884  |  277,468
RPS | P/RPS 138.39 Cent  |  5.35
EPS | P/E | EY 56.15 Cent  |  13.18  |  7.59%
DPS | DY | Payout % -
NAPS | P/NAPS -
QoQ | YoY   20.84%  |    148.32%
NP Margin | ROE 46.96%  |  16.35%
F.Y. | Ann. Date 30-Jun-2020  |  19-Aug-2020




Show?  YoY % Horiz. %

Last 10 FY Result
AQR T4Q 31/12/19 31/12/18 31/12/17 31/12/16 31/12/15 31/12/14 31/12/13 31/12/12 31/12/11 31/12/10 CAGR
Revenue 683,884 662,983 701,933 874,119 910,862 600,738 588,686 672,465 628,758 635,304 610,508 523,323 3.31%
  YoY % 3.15% -5.55% -19.70% -4.03% 51.62% 2.05% -12.46% 6.95% -1.03% 4.06% 16.66% -
  Horiz. % 130.68% 126.69% 134.13% 167.03% 174.05% 114.79% 112.49% 128.50% 120.15% 121.40% 116.66% 100.00%
PBT 327,656 277,250 188,404 197,440 192,935 137,560 147,524 153,020 154,894 129,102 141,352 121,126 5.03%
  YoY % 18.18% 47.16% -4.58% 2.33% 40.26% -6.75% -3.59% -1.21% 19.98% -8.67% 16.70% -
  Horiz. % 270.51% 228.89% 155.54% 163.00% 159.28% 113.57% 121.79% 126.33% 127.88% 106.58% 116.70% 100.00%
Tax -6,494 -2,546 -11,984 -37,908 -35,225 -22,004 -39,870 -45,724 -47,709 -35,440 -28,784 -21,905 -6.48%
  YoY % -155.07% 78.76% 68.39% -7.62% -60.08% 44.81% 12.80% 4.16% -34.62% -23.12% -31.40% -
  Horiz. % 29.65% 11.62% 54.71% 173.06% 160.81% 100.45% 182.01% 208.74% 217.80% 161.79% 131.40% 100.00%
NP 321,162 274,704 176,420 159,532 157,710 115,556 107,654 107,296 107,185 93,662 112,568 99,221 6.60%
  YoY % 16.91% 55.71% 10.59% 1.16% 36.48% 7.34% 0.33% 0.10% 14.44% -16.80% 13.45% -
  Horiz. % 323.68% 276.86% 177.81% 160.78% 158.95% 116.46% 108.50% 108.14% 108.03% 94.40% 113.45% 100.00%
NP to SH 277,468 236,533 153,668 129,266 138,336 120,741 74,264 69,899 74,050 57,927 75,090 65,197 9.99%
  YoY % 17.31% 53.92% 18.88% -6.56% 14.57% 62.58% 6.24% -5.61% 27.83% -22.86% 15.17% -
  Horiz. % 425.58% 362.80% 235.70% 198.27% 212.18% 185.19% 113.91% 107.21% 113.58% 88.85% 115.17% 100.00%
Tax Rate 1.98 % 0.92 % 6.36 % 19.20 % 18.26 % 16.00 % 27.03 % 29.88 % 30.80 % 27.45 % 20.36 % 18.08 % -10.95%
  YoY % 115.22% -85.53% -66.88% 5.15% 14.13% -40.81% -9.54% -2.99% 12.20% 34.82% 12.61% -
  Horiz. % 10.95% 5.09% 35.18% 106.19% 101.00% 88.50% 149.50% 165.27% 170.35% 151.83% 112.61% 100.00%
Total Cost 362,722 388,279 525,513 714,587 753,152 485,182 481,032 565,169 521,573 541,642 497,940 424,102 2.41%
  YoY % -6.58% -26.11% -26.46% -5.12% 55.23% 0.86% -14.89% 8.36% -3.71% 8.78% 17.41% -
  Horiz. % 85.53% 91.55% 123.91% 168.49% 177.59% 114.40% 113.42% 133.26% 122.98% 127.72% 117.41% 100.00%
Net Worth 1,696,904 1,696,904 1,520,622 1,342,332 1,221,573 1,057,434 813,028 739,059 679,459 612,580 561,544 515,977 12.75%
  YoY % 0.00% 11.59% 13.28% 9.89% 15.52% 30.06% 10.01% 8.77% 10.92% 9.09% 8.83% -
  Horiz. % 328.87% 328.87% 294.71% 260.15% 236.75% 204.94% 157.57% 143.23% 131.68% 118.72% 108.83% 100.00%
Dividend
AQR T4Q 31/12/19 31/12/18 31/12/17 31/12/16 31/12/15 31/12/14 31/12/13 31/12/12 31/12/11 31/12/10 CAGR
Div 51,551 49,912 24,136 15,745 15,611 17,278 17,819 17,808 16,708 15,931 20,461 17,199 3.83%
  YoY % 3.28% 106.79% 53.29% 0.86% -9.65% -3.04% 0.06% 6.59% 4.87% -22.14% 18.97% -
  Horiz. % 299.73% 290.20% 140.34% 91.55% 90.77% 100.46% 103.61% 103.54% 97.14% 92.63% 118.97% 100.00%
Div Payout % 18.58 % 21.10 % 15.71 % 12.18 % 11.28 % 14.31 % 24.00 % 25.48 % 22.56 % 27.50 % 27.25 % 26.38 % -5.59%
  YoY % -11.94% 34.31% 28.98% 7.98% -21.17% -40.37% -5.81% 12.94% -17.96% 0.92% 3.30% -
  Horiz. % 70.43% 79.98% 59.55% 46.17% 42.76% 54.25% 90.98% 96.59% 85.52% 104.25% 103.30% 100.00%
Equity
AQR T4Q 31/12/19 31/12/18 31/12/17 31/12/16 31/12/15 31/12/14 31/12/13 31/12/12 31/12/11 31/12/10 CAGR
Net Worth 1,696,904 1,696,904 1,520,622 1,342,332 1,221,573 1,057,434 813,028 739,059 679,459 612,580 561,544 515,977 12.75%
  YoY % 0.00% 11.59% 13.28% 9.89% 15.52% 30.06% 10.01% 8.77% 10.92% 9.09% 8.83% -
  Horiz. % 328.87% 328.87% 294.71% 260.15% 236.75% 204.94% 157.57% 143.23% 131.68% 118.72% 108.83% 100.00%
NOSH 429,596 429,596 402,281 393,646 390,279 345,566 222,747 222,608 222,773 224,388 227,346 229,323 6.44%
  YoY % 0.00% 6.79% 2.19% 0.86% 12.94% 55.14% 0.06% -0.07% -0.72% -1.30% -0.86% -
  Horiz. % 187.33% 187.33% 175.42% 171.66% 170.19% 150.69% 97.13% 97.07% 97.14% 97.85% 99.14% 100.00%
Ratio Analysis
AQR T4Q 31/12/19 31/12/18 31/12/17 31/12/16 31/12/15 31/12/14 31/12/13 31/12/12 31/12/11 31/12/10 CAGR
NP Margin 46.96 % 41.43 % 25.13 % 18.25 % 17.31 % 19.24 % 18.29 % 15.96 % 17.05 % 14.74 % 18.44 % 18.96 % 3.18%
  YoY % 13.35% 64.86% 37.70% 5.43% -10.03% 5.19% 14.60% -6.39% 15.67% -20.07% -2.74% -
  Horiz. % 247.68% 218.51% 132.54% 96.26% 91.30% 101.48% 96.47% 84.18% 89.93% 77.74% 97.26% 100.00%
ROE 16.35 % 13.94 % 10.11 % 9.63 % 11.32 % 11.42 % 9.13 % 9.46 % 10.90 % 9.46 % 13.37 % 12.64 % -2.45%
  YoY % 17.29% 37.88% 4.98% -14.93% -0.88% 25.08% -3.49% -13.21% 15.22% -29.24% 5.78% -
  Horiz. % 129.35% 110.28% 79.98% 76.19% 89.56% 90.35% 72.23% 74.84% 86.23% 74.84% 105.78% 100.00%
Per Share
AQR T4Q 31/12/19 31/12/18 31/12/17 31/12/16 31/12/15 31/12/14 31/12/13 31/12/12 31/12/11 31/12/10 CAGR
RPS 159.19 154.33 174.49 222.06 233.39 173.84 264.28 302.08 282.24 283.13 268.54 228.20 -2.94%
  YoY % 3.15% -11.55% -21.42% -4.85% 34.26% -34.22% -12.51% 7.03% -0.31% 5.43% 17.68% -
  Horiz. % 69.76% 67.63% 76.46% 97.31% 102.27% 76.18% 115.81% 132.38% 123.68% 124.07% 117.68% 100.00%
EPS 63.32 55.06 37.40 33.03 36.02 34.19 33.34 31.40 33.24 25.81 33.03 28.42 3.10%
  YoY % 15.00% 47.22% 13.23% -8.30% 5.35% 2.55% 6.18% -5.54% 28.79% -21.86% 16.22% -
  Horiz. % 222.80% 193.74% 131.60% 116.22% 126.74% 120.30% 117.31% 110.49% 116.96% 90.82% 116.22% 100.00%
DPS 12.00 11.62 6.00 4.00 4.00 5.00 8.00 8.00 7.50 7.10 9.00 7.50 -2.45%
  YoY % 3.27% 93.67% 50.00% 0.00% -20.00% -37.50% 0.00% 6.67% 5.63% -21.11% 20.00% -
  Horiz. % 160.00% 154.93% 80.00% 53.33% 53.33% 66.67% 106.67% 106.67% 100.00% 94.67% 120.00% 100.00%
NAPS 3.9500 3.9500 3.7800 3.4100 3.1300 3.0600 3.6500 3.3200 3.0500 2.7300 2.4700 2.2500 5.93%
  YoY % 0.00% 4.50% 10.85% 8.95% 2.29% -16.16% 9.94% 8.85% 11.72% 10.53% 9.78% -
  Horiz. % 175.56% 175.56% 168.00% 151.56% 139.11% 136.00% 162.22% 147.56% 135.56% 121.33% 109.78% 100.00%
Adjusted Per Share Value based on latest NOSH - 494,176
AQR T4Q 31/12/19 31/12/18 31/12/17 31/12/16 31/12/15 31/12/14 31/12/13 31/12/12 31/12/11 31/12/10 CAGR
RPS 138.39 134.16 142.04 176.88 184.32 121.56 119.12 136.08 127.23 128.56 123.54 105.90 3.31%
  YoY % 3.15% -5.55% -19.70% -4.04% 51.63% 2.05% -12.46% 6.96% -1.03% 4.06% 16.66% -
  Horiz. % 130.68% 126.69% 134.13% 167.03% 174.05% 114.79% 112.48% 128.50% 120.14% 121.40% 116.66% 100.00%
EPS 56.15 47.86 31.10 26.16 27.99 24.43 15.03 14.14 14.98 11.72 15.19 13.19 9.99%
  YoY % 17.32% 53.89% 18.88% -6.54% 14.57% 62.54% 6.29% -5.61% 27.82% -22.84% 15.16% -
  Horiz. % 425.70% 362.85% 235.78% 198.33% 212.21% 185.22% 113.95% 107.20% 113.57% 88.86% 115.16% 100.00%
DPS 10.43 10.10 4.88 3.19 3.16 3.50 3.61 3.60 3.38 3.22 4.14 3.48 3.83%
  YoY % 3.27% 106.97% 52.98% 0.95% -9.71% -3.05% 0.28% 6.51% 4.97% -22.22% 18.97% -
  Horiz. % 299.71% 290.23% 140.23% 91.67% 90.80% 100.57% 103.74% 103.45% 97.13% 92.53% 118.97% 100.00%
NAPS 3.4338 3.4338 3.0771 2.7163 2.4719 2.1398 1.6452 1.4955 1.3749 1.2396 1.1363 1.0441 12.75%
  YoY % 0.00% 11.59% 13.28% 9.89% 15.52% 30.06% 10.01% 8.77% 10.91% 9.09% 8.83% -
  Horiz. % 328.88% 328.88% 294.71% 260.16% 236.75% 204.94% 157.57% 143.23% 131.68% 118.72% 108.83% 100.00%
Price Multiplier on Financial Quarter End Date
AQR T4Q 31/12/19 31/12/18 31/12/17 31/12/16 31/12/15 31/12/14 31/12/13 31/12/12 31/12/11 31/12/10 CAGR
Date AQR T4Q 31/12/19 31/12/18 29/12/17 30/12/16 31/12/15 31/12/14 31/12/13 31/12/12 30/12/11 30/12/10 -
Price 6.2800 6.2800 5.1100 3.1000 3.6700 2.1500 2.4900 2.4000 2.1800 1.6000 1.6900 1.7700 -
P/RPS 3.94 4.07 2.93 1.40 1.57 1.24 0.94 0.79 0.77 0.57 0.63 0.78 15.83%
  YoY % -3.19% 38.91% 109.29% -10.83% 26.61% 31.91% 18.99% 2.60% 35.09% -9.52% -19.23% -
  Horiz. % 505.13% 521.79% 375.64% 179.49% 201.28% 158.97% 120.51% 101.28% 98.72% 73.08% 80.77% 100.00%
P/EPS 9.72 11.41 13.38 9.44 10.35 6.15 7.47 7.64 6.56 6.20 5.12 6.23 8.86%
  YoY % -14.81% -14.72% 41.74% -8.79% 68.29% -17.67% -2.23% 16.46% 5.81% 21.09% -17.82% -
  Horiz. % 156.02% 183.15% 214.77% 151.52% 166.13% 98.72% 119.90% 122.63% 105.30% 99.52% 82.18% 100.00%
EY 10.28 8.77 7.48 10.59 9.66 16.25 13.39 13.08 15.25 16.13 19.54 16.06 -8.13%
  YoY % 17.22% 17.25% -29.37% 9.63% -40.55% 21.36% 2.37% -14.23% -5.46% -17.45% 21.67% -
  Horiz. % 64.01% 54.61% 46.58% 65.94% 60.15% 101.18% 83.37% 81.44% 94.96% 100.44% 121.67% 100.00%
DY 1.91 1.85 1.17 1.29 1.09 2.33 3.21 3.33 3.44 4.44 5.33 4.24 -13.32%
  YoY % 3.24% 58.12% -9.30% 18.35% -53.22% -27.41% -3.60% -3.20% -22.52% -16.70% 25.71% -
  Horiz. % 45.05% 43.63% 27.59% 30.42% 25.71% 54.95% 75.71% 78.54% 81.13% 104.72% 125.71% 100.00%
P/NAPS 1.59 1.59 1.35 0.91 1.17 0.70 0.68 0.72 0.71 0.59 0.68 0.79 6.13%
  YoY % 0.00% 17.78% 48.35% -22.22% 67.14% 2.94% -5.56% 1.41% 20.34% -13.24% -13.92% -
  Horiz. % 201.27% 201.27% 170.89% 115.19% 148.10% 88.61% 86.08% 91.14% 89.87% 74.68% 86.08% 100.00%
Price Multiplier on Announcement Date
AQR T4Q 31/12/19 31/12/18 31/12/17 31/12/16 31/12/15 31/12/14 31/12/13 31/12/12 31/12/11 31/12/10 CAGR
Date AQR T4Q 25/02/20 27/02/19 23/02/18 27/02/17 25/02/16 26/02/15 27/02/14 25/02/13 27/02/12 24/02/11 -
Price 7.0400 7.0400 5.3000 3.8800 3.6000 2.8100 2.3000 2.4800 2.3300 1.5900 1.7300 1.7000 -
P/RPS 4.42 4.56 3.04 1.75 1.54 1.62 0.87 0.82 0.83 0.56 0.64 0.74 16.99%
  YoY % -3.07% 50.00% 73.71% 13.64% -4.94% 86.21% 6.10% -1.20% 48.21% -12.50% -13.51% -
  Horiz. % 597.30% 616.22% 410.81% 236.49% 208.11% 218.92% 117.57% 110.81% 112.16% 75.68% 86.49% 100.00%
P/EPS 10.90 12.79 13.87 11.82 10.16 8.04 6.90 7.90 7.01 6.16 5.24 5.98 9.79%
  YoY % -14.78% -7.79% 17.34% 16.34% 26.37% 16.52% -12.66% 12.70% 13.80% 17.56% -12.37% -
  Horiz. % 182.27% 213.88% 231.94% 197.66% 169.90% 134.45% 115.38% 132.11% 117.22% 103.01% 87.63% 100.00%
EY 9.17 7.82 7.21 8.46 9.85 12.43 14.50 12.66 14.27 16.24 19.09 16.72 -8.92%
  YoY % 17.26% 8.46% -14.78% -14.11% -20.76% -14.28% 14.53% -11.28% -12.13% -14.93% 14.17% -
  Horiz. % 54.84% 46.77% 43.12% 50.60% 58.91% 74.34% 86.72% 75.72% 85.35% 97.13% 114.17% 100.00%
DY 1.70 1.65 1.13 1.03 1.11 1.78 3.48 3.23 3.22 4.47 5.20 4.41 -14.03%
  YoY % 3.03% 46.02% 9.71% -7.21% -37.64% -48.85% 7.74% 0.31% -27.96% -14.04% 17.91% -
  Horiz. % 38.55% 37.41% 25.62% 23.36% 25.17% 40.36% 78.91% 73.24% 73.02% 101.36% 117.91% 100.00%
P/NAPS 1.78 1.78 1.40 1.14 1.15 0.92 0.63 0.75 0.76 0.58 0.70 0.76 7.02%
  YoY % 0.00% 27.14% 22.81% -0.87% 25.00% 46.03% -16.00% -1.32% 31.03% -17.14% -7.89% -
  Horiz. % 234.21% 234.21% 184.21% 150.00% 151.32% 121.05% 82.89% 98.68% 100.00% 76.32% 92.11% 100.00%

PBT = Profit before Tax, NP = Net Profit, NP to SH = Net Profit Attributable to Shareholder, Div = Dividend, NP Margin = Net Profit Margin, ROE = Return on Equity, NOSH = Number of Shares, RPS = Revenue per Share, EPS = Earning Per Share, DPS = Dividend Per Share, NAPS = Net Asset Per Share, EOQ = End of Quarter, ANN = Announcement, P/RPS = Price/Revenue per Share, P/EPS = Price/Earning per Share, P/NAPS = Price/Net Asset per Share, EY = Earning Yield, DY = Dividend Yield.


NOSH is estimated based on the NP to SH and EPS. Div is an estimated figure based on the DPS and NOSH. Net Worth is an estimated figure based on the NAPS and NOSH.

Div Payout %, NP Margin, ROE, DY, QoQ Δ & YoY Δ figures in Percentage; RPS, EPS & DPS's figures in Cent; and NAPS's figures in Dollar.

All figures in '000 unless specified.


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  13 people like this.
 
Sami_Value MFCB also defensive in nature
10/09/2020 3:25 PM
StockLORD pjseow - great summary!
14/09/2020 10:57 AM
BLee A good article for sharing:
https://www.freemalaysiatoday.com/category/leisure/2020/09/16/the-real-purpose-of-investing/
I believed investment/investors in MFCB are long term with very good return. Happy Trading n Happy Malaysia Day.
16/09/2020 8:48 AM
warrantKing if next QR maintain 18sens (Or hit higher 20sens EPS) due to higher utilization rate of hydropower plant .

I believe RM 8-10 will be no problem.

The company can generate more cash flow after they pay off power plant's debts , which might be achieved in 3 to 4 years time.
16/09/2020 4:50 PM
kenken85 today high transaction volume. hopefully this FMR LLC finish disposing then will be nice.
18/09/2020 4:59 PM
gemfinder Huge volume transa ted at 738. I guess fmr selling done. Wil continue uptrend n ctmross rm8
18/09/2020 8:03 PM
pjseow Based on RHB TA ,.the correction is.almost over. I took the opportunity to add more mfcb at between 7.00 to 7.22 in the last 2 weeks.
19/09/2020 7:43 AM
sg999 What rhb TA said?
19/09/2020 1:31 PM
pjseow The rhb.TA said mfcb is in.the process of extending its upward trend . Its next resistances are at 7.65 and 7.85.
19/09/2020 7:09 PM
HumbledInvestor [MFCB] Low Risk High Return? What is the Target Price?

https://klse.i3investor.com/blogs/HumbledInvestor/2020-09-23-story-h1514270535-_Humbled_Investor_MFCB_Low_Risk_High_Return_What_is_the_Target_Price.jsp
23/09/2020 8:05 PM
Lioncity Happily collecting, keep the disposing coming FMR LLC
01/10/2020 1:25 PM
kenken85 still have 24 million share. dont know when can ends. pjseow. can u do DBT with them n sapu their share? haha
01/10/2020 6:29 PM
pputeh https://klse.i3investor.com/blogs/101/2020-10-02-story-h1514417412.jsp
02/10/2020 1:33 PM
Fujisnow The reason why FMR LLC is disposing off the shares:
https://foreignpolicy.com/2020/04/22/science-shows-chinese-dams-devastating-mekong-river/
03/10/2020 9:59 AM
Henry8833 Mkt needs to absorb FMR shares as they are exiting. Also, look like for now its share maybe almost fully valued as it is malaysian mkt, which may only give PE 10, unless it has other catalyst like packaging company far exceeding expectation, or give higher than current dividend yield.
05/10/2020 12:47 PM
Hahaqwe hahahah coming quarter expected to be the best quarter ever. My forecast PAT 90mil as energy factor around 95% and the contribution from limestone and packaging sector! TP1=Rm9.5 TP2=RM12 TP3=RM13.5
05/10/2020 1:12 PM
gemfinder https://klse.i3investor.com/blogs/kianweiaritcles/2020-10-07-story-h1534525477-Vietnam_to_buy_more_electricity_from_neighbours_including_Laos.jsp
07/10/2020 10:11 PM
gemfinder Good,news
07/10/2020 10:11 PM
nicloh I forecast MFCB will become a net cash company within 4-5 years, strong cash flow contribution every year from DG power plant
10/10/2020 5:07 PM
jojo85 Will pass rm 10 like scientx..patient will be paid..
12/10/2020 6:51 PM
sg999 Sleeping。。。。。。。。
12/10/2020 8:42 PM
gemfinder Once fmr holdings less than 5% there wil b no more selling anouncement
13/10/2020 7:47 PM
Lioncity This morning good catching at 7.04, been waiting for few days, thank you FMR
14/10/2020 11:07 AM
Henry8833 They will still sell, just no need to disclose. Surprise they cannot find buyer to buy in block. Sell like this every day is costly. Mean no fund interested to buy? They must pay higher dividend to attract mutual funds.
14/10/2020 11:10 AM
UndukNgadau Me too. Bought at 7.04. Still queuing more at 7.03
14/10/2020 12:03 PM
UPlanet Absolutely right Henry, should propose 50% dividend policy!
14/10/2020 2:48 PM
gemfinder Fmr shareholding oredi below 5%. No more everyday anouncement sell everday
14/10/2020 6:05 PM
sg999 Still got 5% ready to be disposed by FMR????????
14/10/2020 8:09 PM
Joe Ng Fmr sell so many shares but price didnt crash ... u think who buying? Mesti shark lah
16/10/2020 11:17 AM
gemfinder after fmr sell below %, at last the sky is cleared
16/10/2020 4:05 PM
theintinvestor so fast up back...zzz
16/10/2020 4:26 PM
pputeh Waiting for QR before powering on......
16/10/2020 4:58 PM
pinnaclegrade Breakout today ! Long white candlestick + decent volume, target price RM7.50 & beyond !!
16/10/2020 5:20 PM
UPlanet Zzzz What? Still there! Aiyo, long neck to wait for fly over Rm9.00?
16/10/2020 6:34 PM
Lychien20 if new QR EPS is 30 then follow glove TP=100.hahha
16/10/2020 7:23 PM
gemfinder No more disposing news. Very good
16/10/2020 7:32 PM
Choivo Capital I really like MFCB, but fitch just downgraded Laos from B- to CCC

https://www.fitchratings.com/research/sovereigns/fitch-downgrades-laos-to-ccc-23-09-2020

"In addition, the state-owned electricity company, Electricite du Lao (EDL), appears to be coming under increasing financial pressure due a rapid increase in debt-financed investment and near-term cash flow issues resulting from a drought over the past year which weighed on electricity production. Outstanding debt of EDL is about USD5 billion (26% of GDP), as advised by the authorities, much of which consists of on-lending from the government. EDL poses contingent liability risk for the government if EDL is unable to meet its external debt service obligations."

EDL is the guy working with MFCB and paying MFCB for the electricity. If Laos can no longer buy from MFCB (and this is assuming no doubtful debts), can MFCB sell to other countries like vietnam etc fast enough? is the transmission lines for those built up d?
17/10/2020 10:28 PM
gemfinder Tis downgrade took place back in sept. If realy bad news, mfcb px oredi crashed but it wasnt. Dun try to pour cold water
17/10/2020 11:10 PM
BLee @Choivo capital, I also likes MFCB very much. Please refer an old article to debunk your fear...
https://www.theedgemarkets.com/article/mega-firsts-laos-turbine-likely-be-installed-march
Below is an extract of a paragraph from the above article dated around Jan. 2019.
"EDL will pay Don Sahong according to the energy availability and the payments are guaranteed by the Laos’ finance ministry."
In my opinion, any financial problem of EDL shall NOT affect MFCB as payments are guaranteed.

Happy Trading.
18/10/2020 1:05 AM
Choivo Capital l I agree it is guaranteed.

But here's the problem. The transmission lines now are connected only to EDL (unless im mistaken) and not to other providers as well. Which means that for now, only EDL can buy, no one else can buy from MFCB, for now.

Secondly, payments are in USD not Laotian Kip, if EDL no money, means no money, where to find USD?

Third, EDL already owes outside USD5bil.

I would keep track on the receivables if i were you.

Unless ofc, the transmission lines can sell to Cambodia directly, and the amounts paid by Cambodia goes direct to MFCB pocket.
18/10/2020 5:08 PM
pinnaclegrade I think there is nothing to worry about, if you read the Fitch commentary fully..
it also states:

" A recently announced joint venture between EDL and China Southern Power Grid Co., Ltd (A+/Stable) should boost investment in the electrical transmission network, which has increasingly become a bottleneck for increasing electricity exports."
18/10/2020 6:04 PM
Choivo Capital Hmm probably, the new 500kv line direct to cambodia via EDL means they can supply cambodia, i just wonder who collect on their behalf.

At only 75% efficiency so far, i think still got long way to go.

But man, we must really account for the possible risk something happen to EDL, which has increased somewhat.
18/10/2020 9:05 PM
pjseow Out of 260 mw, 195 mw is sold to Cambodia ,balance is sold to Laos . There was a seperate line connected to combodia。EDL is like TNB.of malaysia. So far I have not heard TNB do not pay their IPP s even when.TNB were in the red . IF EDL do not pay, mfcb can just shut off the transmission. EDL cant give the stupid.excuse of no money when they collect money from their consumers and make a profit out of it .
18/10/2020 9:43 PM
BLee @Choivo Capital, I think you missed the wording will 'pay on energy availability', which means no matter can or cannot sell, needs to pay and guaranteed by the Laos' Finance Ministry. MFCB gapped up on open trading, assume non-issue..Happy Trading.
19/10/2020 9:24 AM
roger1138 QR must be very good.
19/10/2020 9:29 AM
Henry8833 I think Choivo got a point. We need to monitor the receivables, which is more than RM 200m in quarter ended 30 June 2020. It is higher than the quarterly sales, means more than 3 months turnover days. I don't know the whether it is normal or not. Any one has idea on payment term?
19/10/2020 2:17 PM
Henry8833 Country risk. Could this be the reason fmr selling every day?
19/10/2020 2:44 PM
BLee @Henry8833, Extract from MFCB Q2(June) 2020 report for your information.
"Receivables of 215,938,000 - Increase mainly due to increase in trade receivable from EDL on higher energy sales. The average receivable turnover of EDL is 3-4 months."
Sometime increase in Receivable is good as it show expansion of business.
Happy Trading
19/10/2020 3:19 PM
Henry8833 Thank you BLee for info. Let monitor this in the coming quarter to see whether it continued to increase and maintain at 3-4 months turnover day.
19/10/2020 3:37 PM
amet2017 After price up suddenly become active this forum.
19/10/2020 7:15 PM