Highlights
KLSE: MFCB (3069)       MEGA FIRST CORP BHD MAIN : Utilities
Last Price Today's Change   Day's Range   Trading Volume
3.52   +0.01 (0.28%)  3.48 - 3.52  278,000
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Financials


Market Cap: 3,479 Million

Market Cap 3,479 Million
NOSH 988 Million

Latest Audited Result:  31-Dec-2020

Latest Audited Result: 31-Dec-2020
Announcement Date 28-Apr-2021
Next Audited Result: 31-Dec-2021
Est. Ann. Date: 28-Apr-2022
Est. Ann. Due Date: 29-Jun-2022

Latest Quarter:  30-Jun-2021 [#2]

Latest Quarter: 30-Jun-2021 [#2]
Announcement Date 19-Aug-2021
Next Quarter: 30-Sep-2021
Est. Ann. Date: 19-Nov-2021
Est. Ann. Due Date: 29-Nov-2021
QoQ | YoY   19.05%  |    7.36%

Annual (Unaudited) ( EPS: 32.51, P/E: 10.83 )

Revenue | NP to SH 767,126  |  321,290
RPS | P/RPS 77.62 Cent  |  4.54
EPS | P/E | EY 32.51 Cent  |  10.83  |  9.24%
DPS | DY | Payout % 5.99 Cent  |  1.70%  |  18.43%
NAPS | P/NAPS 1.96  |  1.80
YoY   109.08%
NP Margin | ROE 49.30%  |  16.62%
F.Y. | Ann. Date 31-Dec-2020  |  26-Feb-2021

T4Q Result ( EPS: 34.73, P/E: 10.14 )

Revenue | NP to SH 826,741  |  343,217
RPS | P/RPS 83.65 Cent  |  4.21
EPS | P/E | EY 34.73 Cent  |  10.14  |  9.87%
DPS | DY | Payout % 6.23 Cent  |  1.77%  |  17.94%
NAPS | P/NAPS 2.20  |  1.60
QoQ | YoY   1.78%  |    45.10%
NP Margin | ROE 49.10%  |  15.75%
F.Y. | Ann. Date 30-Jun-2021  |  19-Aug-2021

Annualized Result ( EPS: 32.51, P/E: 10.83 )

Revenue | NP to SH 803,114  |  321,322
RPS | P/RPS 81.26 Cent  |  4.33
EPS | P/E | EY 32.51 Cent  |  10.83  |  9.24%
DPS | DY | Payout % -
NAPS | P/NAPS -
QoQ | YoY   9.53%  |    15.81%
NP Margin | ROE 46.89%  |  14.75%
F.Y. | Ann. Date 30-Jun-2021  |  19-Aug-2021



Business Performance

Business Performance (By Quarter)

Trailing 4 Quarters Trailing 8 Quarters
Available Quarters 4 Quarters 8 Quarters
Continuous Quarters Of Revenue Growth 1 / 4 25.00% 1 / 8 12.50%
Total Positive Profit Years 4 / 4 100.00% 8 / 8 100.00%
Continuous Quarters Of Positive Profit 4 / 4 100.00% 8 / 8 100.00%
Continuous Quarters Of Profit Growth 1 / 4 25.00% 1 / 8 12.50%
Continuous Quarters Of Adjusted EPS Growth 1 / 4 25.00% 1 / 8 12.50%
Total Dividend Years 2 / 4 50.00% 4 / 8 50.00%
Continuous Quarters Of Dividend 1 / 4 25.00% 1 / 8 12.50%
Continuous Quarters Of Dividend Growth 0 / 4 0.00% 0 / 8 0.00%
Continuous Quarters Of Adjusted Dps Growth 1 / 4 25.00% 1 / 8 12.50%
Average ROE 4.34% 4.02%
Average Net Profit Margin 48.99% 44.00%

Business Performance (By Year)

Last 5 Financial Years Last 10 Financial Years
Available Years 5 Years 10 Years
Continuous Years Of Revenue Growth 1 / 5 20.00% 1 / 10 10.00%
Total Positive Profit Years 5 / 5 100.00% 10 / 10 100.00%
Continuous Years Of Positive Profit 5 / 5 100.00% 10 / 10 100.00%
Continuous Years Of Profit Growth 2 / 5 40.00% 2 / 10 20.00%
Continuous Years Of Adjusted EPS Growth 2 / 5 40.00% 2 / 10 20.00%
Total Dividend Years 5 / 5 100.00% 10 / 10 100.00%
Continuous Years Of Dividend 5 / 5 100.00% 10 / 10 100.00%
Continuous Years Of Dividend Growth 3 / 5 60.00% 3 / 10 30.00%
Continuous Years Of Adjusted Dps Growth 3 / 5 60.00% 3 / 10 30.00%
Average ROE 11.82% 11.14%
Average Net Profit Margin 25.85% 21.37%

Key Result

Key Result

T4Q Annualized Annual (Unaudited) Last 10 FY Average Last 5 FY Average
Revenue 826,741 803,114 767,126 699,049 770,955
NP to SH 343,217 321,322 321,290 121,453 172,660
Dividend 61,578 61,578 59,209 22,071 26,396
Adjusted EPS 34.73 32.51 32.51 12.29 17.47
Adjusted DPS 6.23 6.23 5.99 2.23 2.67

NP to SH = Net Profit Attributable to Shareholder, EPS = Earning Per Share, DPS = Dividend Per Share

All figures in '000 unless specified.

EPS & DPS's figures in Cent.


Growth

Growth (By Quarter)

LQ QoQ LQ YoY CQ YoY LQ vs Average of T4Q LQ vs Average of T8Q
Revenue 7.29% 14.67% 17.43% 0.56% 11.61%
NP to Owner 19.05% 7.36% 15.81% 1.76% 20.49%
Dividend 0.00% 19.45% 19.45% 100.00% 120.93%
Adj. EPS 19.05% 7.36% 15.81% 1.76% 20.49%
Adj. DPS 0.00% 19.45% 19.45% 100.00% 120.93%

LQ = Latest Quarter, CQ = Cumulative Quarter, T4Q = Trailing 4 Quarters, T8Q = Trailing 8 Quarters, QoQ = Quarter on Quarter, YoY = Year on Year

Growth (By Year)

T4Q vs LFY T4Q vs AL5FY T4Q vs AL10FY AQR vs LFY AQR vs AL5FY AQR vs AL10FY LFY YoY LFY vs AL5FY LFY vs AL10FY
Revenue 7.77% 7.24% 18.27% 4.69% 4.17% 14.89% 9.29% -0.50% 9.74%
NP to Owner 6.82% 98.78% 182.59% 0.01% 86.10% 164.56% 109.08% 86.08% 164.54%
Dividend 4.00% 133.28% 179.00% - % - % - % 145.31% 124.31% 168.27%
Adj. EPS 6.82% 98.78% 182.59% 0.01% 86.10% 164.56% 109.08% 86.08% 164.54%
Adj. DPS 4.00% 133.28% 179.00% - % - % - % 145.31% 124.31% 168.27%

T4Q = Trailing 4 Quarters, T8Q = Trailing 8 Quarters, AL5FY = Average of Last 5 Financial Years, AL10FY = Average of Last 10 Financial Years, LFY = Latest Financial Year AQR = Annualized Quarter Result, YoY = Year on Year

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  14 people like this.
 
MiaoMiao7 I dont think MFCB will drop 50%...very highly unlikely. so, if you are long, just buy and hold. my strategy is different.
27/07/2021 8:28 PM
Souljaboiiii wait... drop 50%? What makes you say so?
27/07/2021 8:37 PM
MiaoMiao7 I said I dont think it will drop 50%.
27/07/2021 8:46 PM
RJ87 Here we go again....
28/07/2021 11:40 AM
RJ87 Today CIMB abit more serious...that fella started early....buy sell buy sell himself and to keep low VWAP also fun.
28/07/2021 4:14 PM
MiaoMiao7 exactly... this is the same thing I've seen in yinson... it will drop drop drop and sudden drop then before closing it will go up. But on certain days, it won't. Many will buy during the drop thinking they can sell higher before closing but it did not on certain days, then later for days it will drop even more.

weird.

Whatever it is, they are pushing the price down, until when nobody knows.
28/07/2021 9:00 PM
28/07/2021 9:02 PM
RJ87 Until SCW expires....
28/07/2021 9:36 PM
MiaoMiao7 CIMB wants it to go below 3.5, can they?
29/07/2021 11:01 AM
RJ87 can...at wat cost only...

For SCW issuer, it's best no need pay. But to press the price down isn't free either.
So, it depends on what price they sold their SCW and how much they need to buy back...

But they definitely save up on broker fees.

Got a few that even issuer made mistake....like TG-C84, BAT-C1, and BAuto-C16.
If they issue at the wrong, sapu lo...wait what. =D
29/07/2021 2:57 PM
MiaoMiao7 They are pushing hard to reach RM3.5, seems like a good price to buy now since today will be the last day for the warrant. Yinson also having the same fate. For those looking for long term investment, Yinson is a good company, can collect some now.
29/07/2021 4:01 PM
MiaoMiao7 I parked at RM3.51 and got it after closing, CIMB probably sell as much as they can to push down the price close to 3.50. Let's see once the warrant expires will it rally.
29/07/2021 5:07 PM
MiaoMiao7 Warrant expires tomorrow.

https://www.klsescreener.com/v2/stocks/view/3069CS/mfcb-cs-cw-mega-first-corporation-berhad-cimb
29/07/2021 5:13 PM
Bgt 9963 Post removed. Why?
29/07/2021 5:34 PM
wallstreetrookie IB shorting all companies with high retail ownership. Unfortunately Mega First Corporation is one of them. 2.3 million shares short. Apologies for recommending this company because fundamental analysis clearly does not work. The same for Lotte Chemical Titan and Hengyuan Refining
29/07/2021 6:25 PM
MiaoMiao7 The problem I see with new retailers is they dont cut loss, and never will. if they lose alot, they just hold and hold and hold... look at glove.
29/07/2021 7:36 PM
wallstreetrookie Sure glove is an anomaly. But the "cut loss at -20%" is such a toxic and prevalent culture. My friend told me that Facebook gurus keep pushing the narrative as if it is some form of gospel. It is merely a part of risk management and if there is no fundamental change within a company, do not feel compelled to sell.
29/07/2021 8:15 PM
wallstreetrookie More money have been wasted speculating for potential correction than an actual correction.
29/07/2021 8:16 PM
RJ87 Only functional method is asymmetric risk rewards.

Between Yinson and Armada. Armada offers better risk reward. With new CEO and CFO at helm, Armada is as good if not better than yinson. Yinson is claiming 5.2B market cap with only 112M profit a quarter. Armada only 2.5B at the back of 150M profit. I won't buy yinson. Both company shares the same sentiment. I think Yinson should drop and armada should go up. Both meet at RM3.5B market cap on the same earning.

Your entry price will decide what's ur risk reward.
If ur entry for Armada is 15sen. What's ur risk? what's ur reward?
Market cap at 15sen is RM900m, cashflow of RM150mil a quarter,RM600mil per annum. How low can it go? So, if ur entry is 15sen, drops to 12sen. SAPU. No need see. U willing to buy at 15sen, u should buy more at 12sen as long no fundamental change. Upside is easily 400% at 60sen. Even at 60sen, it's not crazy over valued. It's just RM3.5B market cap. with RM600mil profit, it's not very over priced.

If ur entry for TG is RM9. What's ur risk? what's ur reward?
at RM9 market cap is RM80B. To make 100% return on TG, TG market cap is gonna be RM160B.
Only mad people believe TG can go 160B market cap with unsustainable super normally profit of 10B profit per annum. I think it will drop all the way down to 2B profit per annum at best. We don't know how bad the ASP will tank nor how strong is chinese competition. On this ground, if u dumb enough to enter at RM9, you should be cutting loss at any price. But if you are dumb enough to buy at RM9, I don't think you would be smart enough to cut loss.
30/07/2021 12:02 PM
RJ87 if your entry is RM3.5. No need 20% cut loss la...how low u want TG to drop? =D
If the entry was RM9. You really should cut loss by RM8. So, see what's ur entry relative to its prospective value.

wallstreetrookie Sure glove is an anomaly. But the "cut loss at -20%" is such a toxic and prevalent culture. My friend told me that Facebook gurus keep pushing the narrative as if it is some form of gospel. It is merely a part of risk management and if there is no fundamental change within a company, do not feel compelled to sell.
29/07/2021 8:15 PM
30/07/2021 12:08 PM
wallstreetrookie Not bad. You do have a point
30/07/2021 12:10 PM
Bgt 9963 Post removed. Why?
31/07/2021 9:14 AM
DannyArcher Maybank got 1 warrant expire 30th Sep valued at RM3.335. If this QR is good and the price rally, MBB will have no choice but to buy more to cover their warrant. Unless they have lots of share now to dispose when the time comes. Price should fly after 30th Sep as no more warrant below this price.

29/10 | 4.14 | MAC-CT
20/02 | 3.67 | AMB-CU
28/03 | 3.94 | AMB-CW
25/04 | 3.60 | KEN-CV
02/08/2021 5:14 PM
wallstreetrookie To be honest, hydropower crypto mining is 100% possible.

Will forward this to the management in the next shareholder meeting. This is the diversification this company needs. As China cracks down on Bitcoin mining and Malaysia bans Binance and conduct arrests nationwide to deter illegal Bitcoin miners using excessive electricity, renewable energy companies should capitalise on this opportunity to mine cryptocurrency with alternative energy sources specifically green energy.
05/08/2021 8:26 AM
wallstreetrookie The Nordic region once again has become a lucrative place to mine crypto-currencies, thanks to a plunge in electricity prices.

The wettest weather in at least 20 years boosted production from hydro-electric plants, leaving Sweden and Norway with some of the lowest power prices in the world. The resulting glut in the most important raw material for making the virtual coins coincided with a year when the price of Bitcoin almost quadrupled.

The currencies are made in giant computer farms that process complex algorithms in halls as big as airport hangars. That makes electricity one of the key inputs, with operations sometimes consuming as much power as that used by 70,000 households. The current market dynamics give big miners alternatives to places where Bitcoin are usually created such as China, Kazakhstan and Canada.

Bloomberg | Technology
05/08/2021 8:26 AM
wallstreetrookie Right now, cryptocurrency is a sensitive issue in Malaysia. But time will pass
05/08/2021 8:26 AM
wallstreetrookie Earnings to be expected this week
EPS estimates: High 17.5 Low 15
16/08/2021 6:03 AM
wallstreetrookie Utilities set to outperform during economic downturns.
16/08/2021 6:48 AM
DannyArcher results within expectation.
19/08/2021 5:32 PM
DannyArcher MFCB bought Emery Oleochemicals from Sime Darby
https://www.malaymail.com/news/money/2021/08/19/sime-darby-plantation-pttgc-international-sell-asia-pacific-business-of-eme/1998901

Anyone with insight on this? Good deal or bad deal?
19/08/2021 10:44 PM
noob2021 Is a loss making company for pass 10 years due to poor management...
20/08/2021 11:11 AM
steady31 MFCB's stake in this Emery purchase is only 50% but why is it willing to guarantee the entire debt of Emery of 250M? smells of a rotten deal or is the owner of the other 50% connected to MFCB? If not, it would be better for the share price if MFCB pays a higher dividend instead of a paltry 3.25c when the earnings is 9.2c
20/08/2021 11:42 AM
RJ87 How much is the purchase?

Steady31, where is ur source?
20/08/2021 1:48 PM
nickinvests mfcb got online briefing later at 5, open to all.
20/08/2021 4:05 PM
nickinvests not sure why cannot send the link in i3, can google: ryunanda mfcb
20/08/2021 4:08 PM
Bgt 9963 Post removed. Why?
20/08/2021 4:36 PM
trum Buy.
21/08/2021 10:24 AM
MiaoMiao7 Got 3 more call warrants below 3.60, gotta wait till the warrant expires.
21/08/2021 10:41 AM
RJ87 Let see if kenanga, CV and Maybankm CP is as nasty as CIMB...Dunno which team operating the SCW.

BTW, Bauto-C22 issued by CIMB quite interesting. Strike value RM1.5, 1:1 at 12.5sen. So, can collect when next QR red red...Looking at the pattern, this C22 is the same guy that operates C16. I made some handsome return there.
21/08/2021 3:02 PM
steady31 More shareholders are dumping ,disillusioned the hefty cashflow from the power business is not used to pay more dividends.
24/08/2021 6:27 PM
steady31 Pay peanuts for dividend beget peanut size PER of under 10X, hurting shareholders value.
25/08/2021 10:12 AM
Bizfuneng nickinvests, can you share the link?
25/08/2021 10:36 AM
VaWealth Based on latest QR, MFCB continues lifted higher earnings contributions from its 3 business engines, namely renewable energy, resources divisions & packaging division. From QR prospect, MFCB sounds promising business growth from followings:

1. Hydropower Division:- Company expects that Don Sahong will start construction of the 5th unit before the end of 2021, which contributes higher earnings for the Group.
2. Solar Division:- The 6.4 MW projects is progressively be completed & commissioned over the period from October 2021 to March 2022
3. Packaging Division:- The acquisition of a 75% interest in Stenta Films (Malaysia) Sdn Bhd was completed on 28 July 2021. The consolidation of the earnings of Stenta from Aug’21 is expected to significantly lift the Group’s earnings.

其实,我是从ValueFarm (VF) Apps 中寻找到像MFCB如此稳健成长的优质好公司,其ROE每年在增长中。同时也可透过VF Apps 跟进该公司的业绩表现及一些额外的fact findings和公司的未来成长。VF App 也综合冷眼前辈的《终极方案》选股功能,如今VF显示MFCB完全符合创富 (GDP score) + 保富 (PRC score),但请注意其公司PB(1.85)目前处在five years 高位。

个人觉得VF方便使用且非常适合忙碌的打工一族使用。不但如此,VF里头也有功能自动帅选出马股中好多家其他优质的好公司可作参考。大家不妨一起学习价值投资哦!^_^

http://www.grandpine.com/valuefarm/ref/129/
25/08/2021 6:19 PM
capitalist what happen to the don sahong hydropower, why the market not efficient till now...
26/08/2021 12:17 AM
RJ87 dunno la...u hv to understand few psychology in play...

Rich ppl wear fake rolex, market thinks rolex must be real.
Poor ppl wear real rolex, market think s rolex must be fake.

Like wise for market, bullish counter with no fundamental, "something good is going on and breakout is imminent" even the QR is bleeding cash hell and no end. While Bearish counter with strong fundamental, "QR result is so-so only that's why it's trading sideway" even the fact is it's gonna churn 100mil profit a quarter for next 20 years.

Human by nature don't operate based on facts. It's based on instinct and emotion.
This is also why not everyone can be pilot. Only those who can suppress their fear and anxiety under stressful condition, trust their gauge and act objectively can be one.
26/08/2021 12:48 PM
steady31 The poor decision not to pay a higher dividend cause the share price to keep sliding owing to relentless selling from unhappy shareholders.The loss in share value for everyone especially the major shareholders is higher like cutting the nose to spike the face
08/09/2021 3:41 PM
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08/09/2021 7:52 PM
MiaoMiao7 @steady31

Why is it poor decision? I think it is a good decision. I rather them take the money and grow the company. If dividend is what you want, go to Public Bank, United Plantation, PChem or some high dividend yield counter.

I am here for the growth potential, hopefully they can continue to grow and grow and one day make it into KLCI30.
08/09/2021 10:38 PM
InvestGH Additionally, the group has collaborated with 9M Technologies Sdn Bhd to form a 50:50 JV called Edenor Technology Sdn Bhd, which has proposed to acquire Emery Oleochemical and Emery Specialty Chemicals Sdn Bhd in Malaysia from Sime Darby Plantations Bhd for its oleochemical venture.

https://themalaysianreserve.com/2021/09/06/mega-firsts-acquisitions-to-bring-in-additional-earnings-roe-lift/

Something new is going on.. any idea?
08/09/2021 11:56 PM
InvestGH https://www.thesundaily.my/business/mega-first-to-acquire-sime-darby-plantation-s-emery-firms-for-rm38m-XE8226404
09/09/2021 12:02 AM