Highlights
KLSE: MIECO (5001)       MIECO CHIPBOARD BHD MAIN : Industrial Products
Last Price Today's Change   Day's Range   Trading Volume
0.27   0.00 (0.00%)  0.265 - 0.27  14,000
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Financials


Market Cap: 142 Million

Market Cap 142 Million
NOSH 525 Million

Latest Audited Result:  31-Dec-2017

Latest Audited Result: 31-Dec-2017
Announcement Date 30-Apr-2018
Next Audited Result: 31-Dec-2018
Est. Ann. Date: 30-Apr-2019
Est. Ann. Due Date: 29-Jun-2019

Latest Quarter:  30-Sep-2018 [#3]

Latest Quarter: 30-Sep-2018 [#3]
Announcement Date 21-Nov-2018
Next Quarter: 31-Dec-2018
Est. Ann. Date: 26-Feb-2019
Est. Ann. Due Date: 01-Mar-2019
QoQ | YoY   9.36%  |    -143.63%

Annual (Unaudited) ( EPS: 9.13, P/E: 2.96 )

Revenue | NP to SH 349,305  |  47,949
RPS | P/RPS 66.53 Cent  |  0.41
EPS | P/E | EY 9.13 Cent  |  2.96  |  33.83%
DPS | DY | Payout % 1.00 Cent  |  3.70%  |  10.95%
NAPS | P/NAPS 0.77  |  0.35
YoY   -42.01%
NP Margin | ROE 13.73%  |  11.86%
F.Y. | Ann. Date 31-Dec-2017  |  26-Feb-2018

T4Q Result ( EPS: -1.54, P/E: -17.52 )

Revenue | NP to SH 382,698  |  -8,091
RPS | P/RPS 72.89 Cent  |  0.37
EPS | P/E | EY -1.54 Cent  |  -17.52  |  -5.71%
DPS | DY | Payout % 1.00 Cent  |  3.70%  |  - %
NAPS | P/NAPS 0.72  |  0.38
QoQ | YoY   -156.40%  |    -109.99%
NP Margin | ROE -2.11%  |  -2.14%
F.Y. | Ann. Date 30-Sep-2018  |  21-Nov-2018

Annualized Result ( EPS: -5.45, P/E: -4.95 )

Revenue | NP to SH 409,668  |  -28,637
RPS | P/RPS 78.03 Cent  |  0.35
EPS | P/E | EY -5.45 Cent  |  -4.95  |  -20.20%
DPS | DY | Payout % -
NAPS | P/NAPS -
QoQ | YoY   2.35%  |    -162.15%
NP Margin | ROE -6.99%  |  -7.58%
F.Y. | Ann. Date 30-Sep-2018  |  21-Nov-2018


Hints :
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Date Financial Result Financial Ratio Per Share Item Performance Valuation (End of Quarter) Valuation (Ann. Date)
F.Y. Ann. Date Quarter # Revenue PBT NP NP to SH Div Net Worth Div Payout % NP Margin ROE NOSH RPS Adj. RPS EPS Adj. EPS DPS Adj. DPS NAPS Adj. NAPS QoQ YoY EOQ Date EOQ Price EOQ P/RPS EOQ P/EPS EOQ P/NAPS EOQ EY EOQ DY ANN Date ANN Price ANN P/RPS ANN P/EPS ANN P/NAPS ANN EY ANN DY
T4Q 21-Nov-2018 30-Sep-2018 3 382,698 -7,492 -8,091 -8,091 5,250 378,000 - % -2.11% -2.14% 525,000 72.89 72.89 -1.54 -1.54 1.00 1.00 0.7200 0.72   -116.87% 28-Sep-2018 0.40 0.55 -25.95 0.56 -3.85% 2.50% 21-Nov-2018 0.32 0.44 -20.76 0.44 -4.82% 3.13%
31-Dec-2017 26-Feb-2018 31-Dec-2017 4 349,305 48,026 47,949 47,949 5,250 404,249 10.95% 13.73% 11.86% 525,000 66.53 66.53 9.13 9.13 1.00 1.00 0.7700 0.77   -42.01% 29-Dec-2017 0.775 1.16 8.49 1.01 11.78% 1.29% 26-Feb-2018 0.67 1.01 7.34 0.87 13.63% 1.49%
31-Dec-2016 27-Feb-2017 31-Dec-2016 4 324,096 72,519 82,678 82,678 21,000 375,904 25.40% 25.51% 21.99% 210,002 154.33 61.73 39.37 15.75 10.00 4.00 1.7900 0.72   343.48% 30-Dec-2016 1.40 0.91 3.56 0.78 28.12% 7.14% 27-Feb-2017 2.03 1.32 5.16 1.13 19.39% 4.93%
31-Dec-2015 25-Feb-2016 31-Dec-2015 4 354,988 18,643 18,643 18,643 - 291,821 - % 5.25% 6.39% 209,943 169.09 67.62 8.88 3.55 0.00 0.00 1.3900 0.56   4.28% 31-Dec-2015 1.06 0.63 11.94 0.76 8.38% 0.00% 25-Feb-2016 0.95 0.56 10.70 0.68 9.35% 0.00%
31-Dec-2014 25-Feb-2015 31-Dec-2014 4 344,820 19,441 17,877 17,877 - 273,104 - % 5.18% 6.55% 210,080 164.14 65.68 8.51 3.41 0.00 0.00 1.3000 0.52   128.10% 31-Dec-2014 0.375 0.23 4.41 0.29 22.69% 0.00% 25-Feb-2015 0.595 0.36 6.99 0.46 14.30% 0.00%
31-Dec-2013 21-Feb-2014 31-Dec-2013 4 294,713 -70,164 -63,625 -63,625 - 254,084 - % -21.59% -25.04% 209,986 140.35 56.14 -30.30 -12.12 0.00 0.00 1.2100 0.48   -808.80% 31-Dec-2013 0.33 0.24 -1.09 0.27 -91.82% 0.00% 21-Feb-2014 0.375 0.27 -1.24 0.31 -80.80% 0.00%
31-Dec-2012 22-Feb-2013 31-Dec-2012 4 307,691 -9,190 -7,001 -7,001 - 319,577 - % -2.28% -2.19% 210,248 146.35 58.61 -3.33 -1.33 0.00 0.00 1.5200 0.61   -208.97% 31-Dec-2012 0.44 0.30 -13.21 0.29 -7.57% 0.00% 22-Feb-2013 0.355 0.24 -10.66 0.23 -9.38% 0.00%
31-Dec-2011 21-Feb-2012 31-Dec-2011 4 301,221 6,461 6,425 6,425 - 325,449 - % 2.13% 1.97% 209,967 143.46 57.38 3.06 1.22 0.00 0.00 1.5500 0.62   297.59% 30-Dec-2011 0.43 0.30 14.05 0.28 7.12% 0.00% 21-Feb-2012 0.49 0.34 16.01 0.32 6.24% 0.00%
31-Dec-2010 28-Feb-2011 31-Dec-2010 4 174,208 1,645 1,616 1,616 - 319,002 - % 0.93% 0.51% 209,870 83.01 33.18 0.77 0.31 0.00 0.00 1.5200 0.61   111.01% 30-Dec-2010 0.57 0.69 74.03 0.38 1.35% 0.00% 28-Feb-2011 0.52 0.63 67.53 0.34 1.48% 0.00%
31-Dec-2009 22-Feb-2010 31-Dec-2009 4 185,739 -16,516 -14,679 -14,679 - 317,100 - % -7.90% -4.63% 210,000 88.45 35.38 -6.99 -2.80 0.00 0.00 1.5100 0.60   47.49% 31-Dec-2009 0.41 0.46 -5.87 0.27 -17.05% 0.00% 22-Feb-2010 0.55 0.62 -7.87 0.36 -12.71% 0.00%
31-Dec-2008 20-Feb-2009 31-Dec-2008 4 370,216 -36,261 -27,953 -27,953 - 329,656 - % -7.55% -8.48% 209,972 176.32 70.52 -13.31 -5.32 0.00 0.00 1.5700 0.63   -1,309.56% 31-Dec-2008 0.25 0.14 -1.88 0.16 -53.25% 0.00% 20-Feb-2009 0.22 0.12 -1.65 0.14 -60.51% 0.00%

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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  8 people like this.
 
123456 来了
25/07/2018 15:08
sportstoto 飞机来了?
25/07/2018 15:10
SuperPanda the insider had slowly killing retailers all the way from 1.26 till 37c started from the day they announce acquiring GP out of SYF

its clearly an act of blackmailing other shareholders

but since they have gain much from the distribution they made & they cannot press the price further down to distribute more, its now the time to bring the price up again

im just in at 46.5c to take the new round of game and upside ride

come and join us. cheers.
07/08/2018 23:16
BMCd You are absolutely right SuperPanda, this is their game. Another round coming, not too late to enter now. Chart follow wyckoff Logic.
08/08/2018 17:24
tan kent http://kongsenger.blogspot.com/2018/08/mieco-5001.html?m=0
08/08/2018 18:35
Sanatan Right, looks like the next round has started.
09/08/2018 09:15
bottomtrawler start liao la
09/08/2018 11:01
moneykj Not bad
09/08/2018 12:55
targetinvest 2nd round coming liao
09/08/2018 14:44
targetinvest i can sense and smell it.. very big fire coming to fire this stock upwards
09/08/2018 14:44
targetinvest 70 cents also can come
09/08/2018 14:44
SuperPanda i went through evergreen, jaycorp and mieco and i believe mieco will perform faster than evergreen. just a prediction. can go wrong.

so i park here a lot and some at evergreen.

jaycorp if go to below 90c, i will buy some too. but volume still small. will monitor.
09/08/2018 18:00
SuperPanda the only problem with mieco is their mgmt and its subsidiary syf which not making much profit. but lets give a try and see if their mgmt and insider wants to play it up, so we can share the ride
09/08/2018 18:02
targetinvest Bottom up and holding good for a run up soon
11/08/2018 16:42
targetinvest Can see potential bullishness.. i will drill more into the prospect soon
11/08/2018 16:43
targetinvest going very strong already... faster on board..
14/08/2018 14:39
targetinvest 60 cents is ok
14/08/2018 14:39
targetinvest all fire up for mieco to launch to sky now!!
14/08/2018 14:41
targetinvest strong 60
14/08/2018 14:41
targetinvest all wood are firing up.
hevea
everygreen
fihb
homeritz
14/08/2018 14:46
SuperPanda usd up, all wood based will go up, expected until end this year, so buy wood based at this price a good option
14/08/2018 15:32
Mr8888 Any one know when the QR will release? by right should be release on 26/7/18....
15/08/2018 12:25
sportstoto tp how much?
15/08/2018 19:49
danloh88 sellers are dumping
16/08/2018 11:29
Jasper Coo Very interesting stock ! Worth to invest tho
16/08/2018 15:14
targetinvest Yea... all fire up!!!
16/08/2018 18:52
InvestorKING Actually Mieco current fair value is at 0.75. The price had dropped from 1.20 to 0.39 previously.
16/08/2018 19:51
MoneyFace88 Company has to show profit for price to move up, hope coming quarter Ah Chai can show us the money.
25/08/2018 09:25
Learner One Mieco oversold. Evergreen made good profit.
25/08/2018 10:13
MoneyFace88 QR not out yet ?
27/08/2018 18:58
bonbon In this market sentiment even good result also no use. You see, evergreen's result not bad, but it drops too.
28/08/2018 09:36
khpwwl ask our TM lah… all construction counter are drop
28/08/2018 09:56
Jordan Khoo Wow! the stock price is rising, profit increasing also kikiki
28/08/2018 10:04
bonbon I guess its result won't be good. Anyway, all the best to those who are buying this.
28/08/2018 10:22
Jasper Coo Never regret for buying this stock, profit is real
28/08/2018 10:42
Jasper Coo Wow! earn more again! good stock, i have earned a lot to pay my bills.
28/08/2018 10:43
bonbon Terrible result...
30/08/2018 09:41
kuhen1 Disaster is kicking in i suppose. Should have got MYEG when it was dead low :(
30/08/2018 12:56
targetinvest Mieco roaring back into action..
01/11/2018 10:06
targetinvest Good to scope
01/11/2018 10:06
Sanatan Mieco to continue roaring back into action !
02/11/2018 08:54
bottomtrawler sure anot
21/11/2018 17:20
Adrian Tiong Meng Wei Still lost quarter even with highest revenue..sell sell sell
21/11/2018 17:28
nich0las sell sell sell..... damm. bought 1.xx die la.
21/11/2018 18:55
organic what happed this counter? keep drop?
01/12/2018 08:23
commonsense Hi organic,

Financially the company did not perform that well in the past 2 quarters. I think some investors was hoping for a boost in the profit level upon completion of the acquisition of Great Platform back in February. Based on the documents provided, Great platform recorded a revenue of RM53.5mil and PAT of RM4.1mil for the period of Aug16 to Apr17 (9 months). This translated to an average rev of RM18mil and PAT of RM1.4mil per quarter. Mieco paid RM58.6mil for the company.

However, the most recent quarter indicates that while the acquisition had help increase the company total revenue by 27%, it failed to increase the profit and worst they actually recorded losses. EBITDA margin fell from a high of 21% last year to only 4% in 3Q18. The acquisition of Great Platform had also increase the depreciation charges (from RM4.4mil to now RM7.3mil) and finance cost (from only RM1mil to RM4.4 mil) substantially. This resulted in the company posting a loss of RM6.8mil vs profit of RM15.6mil.

If you are interested in the company, it would be better for you to wait for the next quarter result to come out. Currently we are still not sure whether the bad performance in 3Q18 is permanent (the low profit margin is here to stay) or if the result is just a one off event.

If you are already invested in the company, you need to be prepare to face some volatility as some investors might be a bit worried of the future financial results. It would be advisable for you to diversify your portfolio first. I think there are still some furniture/ particle board manufacturers that are currently still profitable and trading at a not so high valuation.

If you are looking to divest your portfolio outside of the furniture industry, i would recommend them to look at MBMR.

The company is a direct proxy to Perodua via its 22.6% interest in the company. Valuation is cheap at only 5.9x PE (based on target FY18 PATAMI of RM145mil. 9m PATAMI is already RM106mil). PB is low at only 0.6x BV. 4Q18 results is expected to be higher than 3Q18 and last year's 4Q17. And FY19 growth will be driven by the still high demand of new Myvi and the launch of the new SUV in 1Q19.

Please go through the analyst reports (https://klse.i3investor.com/servlets/stk/pt/5983.jsp) and do your own analysis before making any decisions.

Hope Mieco will start posting better results in 4Q18. I think some investors got burnt investing in the company when it was trading at above RM1. With better results, hope the company share price can recover back.

Good luck
07/12/2018 10:41
organic commonsense, ya some investing in price RM1 sure worried the company going on. me just in 0.34 100Lot for invest. any command to keep or force to sell. TQ
08/12/2018 11:13
commonsense Hi Organic,

I think you need to reassess back your position. When you bought the shares at 34 sens what was the reason? Does your thesis still stands? I think you most probably have bought it before the 2Q18 result was announce.

If you go through the note of 2Q18, the losses for the quarter was mainly due to gross margin compression attributed to soft selling price of the companies product, higher cost of materials and also a pre operating cost of the new line.

I think you should only hold to the stock if you believe that the profit margin can improve back to FY17 level in 3Q18. Because if it doesn't and it still post a loss in 3Q, i think some investors might decide to shift their position to other companies.

I personally think their operational profit margin will still remain compressed (at least for next quarter). In addition, the bottom line will also be effected by the higher depreciation and finance cost (due to the acquisition of Great Platform).

Good luck.
10/12/2018 08:36
organic tq,. commonsence.
13/12/2018 17:00
organic keep drop....
18/12/2018 16:32