investment knowledge

Part 2 : Mega First Corporation Berhad is OVERVALUED

Publish date: Thu, 23 Nov 2023, 07:49 PM
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On 20 November 2023, Mega First Coporation Berhad announced that Mega Ventures Limited (“MVL”), a 56.25% owned subsidiary buying the remaining 20% share in Laos Hydropower Project at USD 85million from EDL which gives the full valuation of the project at USD 425million or RM1.989billion at the exchange rate of 4.68 USD/MYR.

Currently, MFCB owns a 80% stake in the hydropower project giving MFCB’s valuation of RM1.591billion or RM1.68 ringgit per share. Based on my previous calculation, other segments of MFCB and net non operating assets worth RM0.95 per share. The total intrinsic value of MFCB is RM2.63 per share which is overvalued compared to the share price of RM3.64 on 23 November 2023. This is not a buy or sell call, please do your homework before investing in this share.

If you are interested in learning stock analysis, please contact me by my email which is in the description . I am also providing the services of financial modeling to the companies, please contact me if any company is interested. I passed CFA program in 2 years and achieved a distinction for my master degree in finance.

My previous blog about MFCB contains how I did a comprehensive valuation on MFCB. Part 1 :Mega First Corporation Berhad is FULLY valued

Hi, I am Lim Khai Woon. I passed CFA program in 2 years and achieved a distinction for my master degree in Finance, Investment and Risk from University of Kent .I was a senior investment analyst in a family office and a financial analyst in a physical commodity trading firm.

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