get real

The EDGE Mieco Bullsh*t

insulter3
Publish date: Sun, 23 Apr 2017, 03:36 PM
insulter3
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Print media is in cahoots with Sydicates and "goreng" experts. This is nothing new, as early as the financial industry has existed, they have been utilizing print media to use fulfil their dirty work. I generally do not have a problem with that. Those who are lazy and believe what the newspaper or analyst writes deserve to lose money.

 

However, this Mieco article by the Edge last weekend was over the top for me. Author KHAIRIE HISYAM ALIMAN or more specifically the EDGE's bullsh*t was too strong for me to ignore. My main problem was that they were too SLOTHFUL. They were too lazy in their attempts to hoodwink the public in this article.

 

I have been watching Mieco being manipulated for a long time. I thought that their earnings will eventually show, but up till the latest result, nothing has changed.

 

However what really pisses me off is how lazy the EDGE is in their journalism.

Mieco's valuation still lags peers?
Give me a break! Can you even call what Khairie wrote a valuation?

 

I have specifically cut out the valuation part of the article. Everything else is basically borrowing from UOB's article which I think is false, but at least they did it with a lot of effort. If you read UOB's Report, they have some lofty forward PE and attach a blanket PE10 for a TP of RM3. They use soft non-concrete reasons such as 

  • New blood - new chairman
  • Cost rationalisation exercise (please, you should've done this years ago)
  • Possible merger with SYF (facts please not possibilities)
  • Gain JIS certification by 2019 (your forward PE is 2018, why are you telling me about a 2019 story?)

That's enough about UOB. I'm not talking about them.

 

So this is the lazy part from the EDGE. How dare Khairie use the headline "Despite rally, Mieco's valuation still lags peers" and use PE of 5.5 versus Hevea and Evergreen. Hevea is on a different level by the way. 

Also, the PE of 5.5 is completely bullsh*t. 

By just doing some quick math you can calculate that the core earnings is 37.2. 

The 5.5PE is based on unadjusted earnings of RM82mil which consist of gain of subsidiary, writeback of impariment of PPE,  etc. 

 

 

Lagging peers my butt. Mieco is lightyears ahead of its peers in terms of PE of 37.2 versus 7.7 (Hevea) and 10 (Evergreen). 

 

Ok that's all from me and this will be my only post. I just cannot bear to see such SLOTHFUL journalism in my local paper trying to deceive retail investors to buy such a trashy company. 

Please think about what you are doing with your life Khairie but more importantly THE EDGE. 

 

MIECO (5001)
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15 people like this. Showing 24 of 24 comments

moneySIFU

I read it last week & I laughed it off too.

2017-04-23 16:43

john doe

Is all about goreng la... You can pay, write and publish whatever also can...

2017-04-23 16:43

moneySIFU

Good sharing & thanks i3 platform.

2017-04-23 16:45

lkoky

well, cant even bothered to read the Edge article after seeing the title.
Thanks for sharing though

2017-04-23 17:04

Pusher_Punisher

the edge - the new metro newspaper? lol.. what a joke

2017-04-23 22:23

king36

Thank you for alerting us.
Keep up with the good job.

insulter3
Print media is in cahoots with Sydicates and "goreng" experts. This is nothing new, as early as the financial industry has existed, they have been utilizing print media to use fulfil their dirty work. I generally do not have a problem with that. Those who are lazy and believe what the newspaper or analyst writes deserve to lose money.

2017-04-24 05:52

Multibagger

Good sharing!

2017-04-24 06:16

soojinhou

I totally agree. Editor is damn lazy to dig through the non recurring items. One really poor piece of propaganda from a usually well balanced news outlet. Editor might have too much boozing the night b4

2017-04-24 07:20

humbleisland

Thanks for highlighting. Not the first time they've been so sloppy, typical of a partisan newspaper... Wanna curi makan also need to know how to wipe their mouths la... zz

2017-04-24 09:21

LA777

Thanks for sharing!

2017-04-24 09:38

uniewehuat123

Thanks for the info.

2017-04-24 09:56

没怎么读到书的市集人

Big like

2017-04-24 10:30

bursahunter

hope they make it up better nex time or else pro investor wont get caught...

2017-04-25 00:24

cckkpr

Damn stupid article. Thinking all readers believer the BS they wrote. That guy may be his last article before leaving.

2017-04-25 09:32

mahorse

Thanks for your insightful article. The writer at The Edge , if worth his salt should answer to this.

2017-04-25 09:37

dusti

Thanks insulter3. That happens when little boys do men's jobs. Also, perhaps more importantly, editors fail to perform their job . Maybe they don't know the topic enough. Maybe golf is more important. So, the readers will have to develop the skill to filter trash and keep the gems and ask ourselves "have we overpaid"? We must accept that some analysts are OK. Good luck to all investors.

2017-04-25 10:44

stockraider

To be fair insulter to mieco should also do the same adjustment in earnings for Hevea and Evergreen as well loh....!!

At least we compare apple to apple mah....!!

2017-04-25 10:49

Shrekk

Haha so funny this write up by insulter 3 is like he was just coming to the stock market yesterday! I rest my case.

2017-04-25 11:36

dick20

I thank and compliment insulter3 for the article which is accurate and spot on. The people at the Edge were just careless with this one. If new investors read the article without checking, they could be putting themselves to risk. This article is not accurate and not a true reflection on the company. Potential investors, please check before buying!

2017-04-25 12:18

Thkent91

i bought that copy of the edge just to read their bullshit about mieco... and i didnt even managed to finish the article

2017-04-25 16:25

1901

they are selling buy/sell call as well. can anyone with access to the paid portal see if mieco is in their list?

2017-04-25 16:31

Cockcroach

Good that you pointed it out.

2017-04-25 16:35

josephtan

thestar business also the same
http://www.thestar.com.my/business/business-news/2017/04/15/whats-going-on-in-mui/

provided shabby details on financial position of the company, which led to false impression that the company is net cash. the whole article consisted of no facts, only rumours recycled from online blogs

2017-04-26 18:37

Seek

Good one insulter n tq!

2017-04-26 20:40

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