Didn't know this. Interesting but when soyabean harvesting is bountiful, it will dampen CPO prices.

... QL may benefit from the El Nino weather phenomena in FY2015.
As the temperature of the Pacific rises, extended rainfall is
forecast to hit North America, resulting in a cooler US summer
and weak hurricane season, which may cap rallies in corn and
soyabean meal prices worldwide. Conversely, the effects of El
Nino are expected to adversely affect fish catches in South
America, in turn raising worldwide prices of fishmeal. The dryer
local climate is also expected to increase palm oil prices.

It seems that the palm oil segment in QL has been overshadowed by its 40% owned Boilermech Holdings Berhad ... be it in term of profit and prospects.

... QL has developed proprietary technology that converts
palm waste biomass into a high quality burning fuel,
and manufactures industrial boiler systems which
convert biomass fuel into energy, minimising carbon
emissions and improving energy cost efficiencies. To
complement clean energy manufacturing, QL operates a
clean energy consultancy that provides end-to-end
solutions and advice on customised biomass energy
solutions.

From the Group MD:

... As we strengthen and expand, we are exposed to a larger
market with enhanced growth opportunities. We have a lot of
work ahead of us, but when I write again in 12 months’ time –
barring unforeseen circumstances – I am confident that I will be
reporting another year of double digit growth.

It is great to see what your company has been doing ..
http://www.qlkitchen.com/

Can anyone tell how significance it is to the sales and profit of QL?

... Over the first nine months of operation in FY2014, we supplied 14,000GCal (equivalent to 1,460MT of fuel oil) in biomass energy for fuel oil replacement. We target to supply 35,000GCal/year in FY2015, rising to 80,000GCal/year in FY2016. The venture is amongst the first of its kind in Malaysia.

Like this statement:

.. on balance the FY2015 outlook is optimistic. We enter FY2015 with confidence and ready
to write a new chapter in our story of uninterrupted growth.

Happy investing!

Up north, QL Foods is expanding ..
http://www.qlfoods.com/index.php

In January 2014, QL Foods Sdn. Bhd. had entered into a Sale and Purchase
Agreement with Tan Tai Hua to purchase parcel of lands held under title nos. GM
2114, Lot 9122; GM 3285, Lot 109; GM 3287, Lot 110; GM 3288, Lot 111 and GM
3397, Lot 112 all in Mukim of Hutan Melintang, District of Hilir Perak, State of Perak
for total consideration of RM7,642,166.00.

HALAL FROZEN FOOD PRODUCTS is expanding ..
http://www.figofoods.com.my/index.html

In June 2014, QL Figo Foods Sdn. Bhd. had entered into a Sale and Purchase
Agreement with Beyonics Technology (Senai) Sdn. Bhd. to purchase a parcel of land
held under GRN238020, Lot 3627, Mukim of Kulai, District of Kulai Jaya, Johor
together with two-storey detached office building, eight blocks of single-storey
detached factory buildings and other supporting structures erected thereon and
measuring approximately 5.5948 hectares for a total consideration of RM24,650,000.

Hi invmudah, .. that will increase the free float of the shares. The directors also bought shares. The disposal of direct interest by young Chen may be viewed as an 'isolated' case, after all he has only a million or slightly more shares. Should keep an eye out on the shareholdings held by the elders Chen.

Market capitalisation:
Matrix Concept - RM1.4 billion (pure property)
MKH - RM1.8 billion
So MKH's plantation is only undervalued at RM400 million for 15,900 ha?

PE times:
MKH is currently valued at 9 times FY2015 profit ... means will provide investors with annual earnings of one-9th, or 11% return.

Happy investing!

The CPO mill has just added additional 50% capacity to 90 metric tonne per hour together with higher FFB output.

Happy reading!
http://mkhberhad.com/GUI/pdf/enewsletter/MKH_Catalogue.pdf

Alex Chen, the executive chairman of MKH was quoted as saying ...
... we still need to learn from big successful
corporations like Genting, Public Bank, KLK, IOI and
Shangri-La Group; and to emulate their success. Hopefully
one day we will grow even bigger, stronger and become a
shining star amongst the big corporations and also
become a corporate role model.

Like this sharing ..

“你真有眼光”。这是一个对您肯定的称赞，如果您帮到您朋友买到好股。

有眼光，买到好股（这里的好股就是会赚到钱的股，不管公司基本面好不好），这是一个大家都期待的。但是买到好股，也要有耐心等。因此，我认为眼光和耐心要加在一起，缺一不可。好眼光 + 能耐心可让您财富增长。在看到有赚到钱的当儿，您会是立刻就卖了，还是有耐心的再等下去，也成为重要的关键。

比如说inari，你在RM1买，起到RM1.20。20%增长了，你会立刻卖吗？还是会再等下去？即使RM1.20，您不卖。RM2时，您会卖吗？RM3时，您卖了吗？星期五·闭市，inari已经是RM3.24了。间中最高起到RM3.34。因此，耐心占了好大的一部分，当然前提是要有好眼光，买到好股，然后耐心的死守。

我的没耐心，让我看到而吃不到。去年的八月,买了novamsc 。那时看是连森美兰皇室成员持股的公司,应该会上的,就在7分买了。那时有告诉自己等10分才卖。可是就是一直等不到。等啊等的,股价跌到6分去,自己信心动摇。就在今年4月那样起到7分半时又回跌,结果又以7分卖出,亏了水钱。等了9个月就这样放弃了。耐心不够强。白等了,浪费时间。也就在昨天股价上升到13.5仙。已经将近增长100%,如果14仙的话。等一年的回酬是财富增长将近100%,也就这样的没有了。

现在的我知道了,耐心的重要。但也面对着眼光的问题。如果耐心有,却没眼光,那将会是亏得更多。所以功课也要做,不可盲目跟从,来避免亏损。

祝大家眼光独到,一起加油!
以上没有买卖建议。

Plantation a potential catalyst. FFB output hit 130k MT
in 1HFY14 (48% of our full-year forecast), and we
understand April FFB yield was strong. We expect
plantation contribution to rise to 33%/38% of FY14/15
group earnings (from 17% in FY13).

Actually I like its plantation more! Superior yield .. that speaks tons of its quality.

Strong launch pipeline. MKH’s large tract of property
land bank in Kajang/Semenyih (490 acres) makes them the
prime beneficiary of rising land prices at this hotspot.
Upcoming launches for MKH include MKH Avenue
2@Kajang City (RM200m GDV, shop offices),
Saville@Cheras (RM280m, high-rise), and Hill Park Homes
3@Semenyih (RM173m, 2-storey terrace houses). These
should be well-received due to their strategic locations and
affordable pricing.

MKH is on track to achieve its record high property sales target
of RM800m for FY14 (vs RM580m in FY13). It booked
RM410m sales in 1HFY14, of which RM96m is pre-sale
booking. This has yet to include overwhelming sales from
Saville@Kajang (RM280m GDV) which has achieved impressive
80% take-up although the project was only launched in April.
As a result, unbilled sales is at an unprecedented RM602m as
at March, or 1.3x its FY13 property revenue.

At RM1b sales, the company should register at least 45sen eps. At 12 times, it is worth RM5.4 per share. At 15 times, you do the math!

MKH Sees RM1b Sales For FY15
http://mkh.irplc.com/medianews.htm?filepath=MKH/MKH-TheSun-21072014.pdf

Should MKH's market value be above RM2 billion mark, it would attract more funds to invest in the company. MKH will join 2B club when its share price reaches 4.80.

Hi kenken .. I don't mind to talk like your dad if we all could make money and money and more money. :)-

1. 分析能力要强
2. 生意触觉要锐
3. 投资心态要正
4. 心里建设要硬

IDR strengthens by 1%!

Hi 2noob2stupid .. MKH has significant assets in Indonesia so strengthening of IDR should benefit the company.

Hi overweight .. ya if you believe in the prospect of the company.

Indonesian election officials were expected on Tuesday to officially declare Jakarta Governor Joko “Jokowi” Widodo ... hurray!
Good to IDR and MKH.
Happy investing!

Public Bank owns close to 10% shares in MKH.
Property and plantation are working full steam ahead.
Has been profitable since its inception about 25 years ago.
High chance that MKH will leverage on current strengths .. already we see increasing trend of unbilled property sales, statement says that the management is actively looking for land bank and possible listing of its plantation.

See you again in 5 years time!

Just to share .. 如果以投机的心态看股市，股市是零和游戏，我赚钱别人要亏钱。
如果以投资的心态看股市，股市就像海洋，我要赚多少看自己的本事，和别人无关。

VALUE INVESTING 不必去猜指数几时跌，不必看指数，只要好好看着自己手中股票 业绩成长如何，CASH FLOW, 债务，以及 PE 或 DIVIDEND YIELD 就够了。

以VALUE INVESTING 的角度来看，卖掉股票是因为：
1）出现更好的目标。
2）公司素质出现变化。
3）公司估值过高。
KLCI 估值高不代表全部公司估值高。只是牛市就必须更努力做功课。

因为股价可能会跌而卖掉股票，是投机，不是投资。因为指数高而卖掉股票，是投机，不是投资。

It is worth to look at its warrants as the time value has not really been factored in.
FFB production will jump from 2016 ..
Properties projects will also keep MKH busy for at least the next 3 - 5 years ..
Happy investing!

hi kenken85, it is from
http://sbpov.blogspot.com/

MKH- 美景控股（6114）是一家近来相当火红的中型股，分派红股过后，目前的股价徘徊在RM3.90~3.95之间，已经好一段时间了，到底庄家意欲为何，很难说，短期来看，有几个不太有利的因素缠绕着这家宝石级潜能股。

但就MKH过往的纪录来理解， 6年来的平均ROE不超过8%，ROA也如是，感觉上不怎么超群，然而当我们把每年的数据逐一拨开来分析时，就会发现一些很有意思的数据：自2010年以来，ROE以及ROA都从4%逐步提升到11%，而今年的半年业绩，已经超越7%，如果单纯以倍数计算，也很可能达到14%的佳绩。

再让我们看看营业额和赚幅。翻查其7年前至今的账目，2008年的营业额只有区区的RM345M，直到2013年的RM689M，扩展了98%，而今年前两个季度的总合，营业额比去年前两季的总合多出了30%，扩展不言而喻。营业额的扩展显示了公司在业务方向的规划得当，管理层同时也向公众表达了，多年前撤换饮食业而投身种植的策略是正确的。

至于盈利，也从2008年的RM51M到2013年的RM107M，翻倍了。再看今年的两季盈利总合，也比去年多出了整整50%，这方面，健忘相信印尼盾的汇率扮演了相当关键的角色，算是潜在的风险。其实，这6年来，MKH的盈利并非一帆风顺，在2010、2011两年里曾经出现严重下滑，中肯的说，2012年才算复苏吧~ 尽管如此，赚幅方面，MKH管理层还是有办法把成本压住，回到7年前的水平，真不容易。

这是一个业绩逐步上升的趋势，产业固然是MKH的一大前锋，但油棕业务似乎有慢慢后来追上的感觉，形成双引擎。当经济不景，政府调低利率，银行放贷鼓励用钱时，产业部分有冲刺的本钱；而当经济高飞时，政府调整利率，收缩银根时，油棕业还可以继续供应那些经济高飞的先进国，两者在不同的时期有着互补的作用，的确很好。

美景控股的现金周转处在健康的水平上，CAT>1.0，现金流也在RM100M至200M之间，比较不良的是债务同样处于上升的状况，DER在1.0以上，虽不至于危险，但也需要多加留意。整体借贷已经超过6年前的3倍多，比现金流超出整整一倍有多，这是管理层需要小心处理、投资者必须注意的部分。

以上的都是过去，过去可以作为一种参考，可以看得出一家公司的管理层的一贯作风，和他们面对灾难性状况时的手法，然而，这不代表未来完全可取决于过去的成绩。

强项：
1. 产业：
Kajang 快铁（MRT）的兴建是一个改变整个地方经济的巨大因素，加上这个地方有大学，有大约15%的雪州人口，会形成城市枢纽，这自然也提升了MKH新产业计划方面的潜在价值。因此，凭着目前为止的销售成绩，MKH的2014年目标RM800M销售额不难达标。

2. 种植：
这是一个还有待持续升值的业务，直至目前，MKH的油棕树大约是4年树龄(老化翻种大概25年)，播种面积高达14.4kha，而且大概鲜果一年的产量是16MT/ha（2013年数据），据闻会在2014年逐步提升。别忘了，有赖于El-Nino、西南风等恶劣气候拉低区域生产量，还有中国、美国等地的经济好转，以及，东西方对再生能源的重新关注，棕油的需求量势必大增，如此一来，势必供不应求，棕油价格不回升也难。

弱点：
1. 产业：
GST将在2015年登场，让所有产业和发展商忧心不已，试想，材料，甚至专业评估、绘图等服务业都会征收6%的额外费用， 统计起来，其杀伤力是非常可怕的，尤其是已经销售但还未开始建的新产业计划，势必将发展商的赚幅狠狠地削掉一大块。这样一来，明年要比今年好，就很难了。这要看MKH的管理层要如何化解这数字上的谜思。

2. 种植：
种植的隐忧，主要不是来自种植生产本身，而是那里的地缘政治因素。MKH的种植地在印尼，而印尼近来逐渐关注并把政策倾向本土企业的作法，对外国企业的MKH来说，是有一定的潜在风险，况且，7月份的印尼总统选举，现任总统届满荣退已经是个事实，而反对党的亲民候选人佐戈占上风，很大可能出现改朝换代的新政局，所谓新人新作风，这对MKH日后的种植业务发展，究竟会有多大的影响呢？

3. 外汇
印尼盾的走势一直影响着MKH的盈利，第一季度的成绩也披露了，当印尼盾兑美元陷入弱势时，MKH的盈利也一度被拉低。 印尼盾兑美元走低，基本上会对MKH的盈利造成创伤，这一点需要注意。

好了，回来我们最终的展望。

AlianceDBS Research给MKH的目标价（红股过后）是12个月后，RM5.85，预测EPS - RM0.323。

我们稍微比对一下，红股过后，2013年的EPS是RM0.2628，大概是目前股价3.93的15倍。

至于2014年，Q1 = RM0.04, Q2 = RM0.10，如果保守估计RM0.323的剩余两季只达标80%，那么后两季的成绩可以达到平均的RM0.0732，年终的总成绩会是RM0.2864。以15~18倍PE来看，股价最终会在RM4.30至RM5.16之间徘徊。

健忘收编MKH是红股之前的事，当时，其气焰嚣张，飞扬跋扈，让很多人见识了这家股的冲力。

红股过后，遇上世界杯和斋戒月重叠，让股市出现低迷状态，美景MKH也随之停驾横摆，这究竟是个进场的契机，还是无力回天的先兆呢？

见仁见智，但健忘还是会收着，我们年终再来评价。

MYR: BNM hikes, but turns data-dependent

BNM today hiked the policy rate by 25bp as was widely expected, but their forward guidance was non-committal and data-dependent. The MPC statement avoided the word "appropriate" to refer to monetary conditions, suggesting that the policy bias remains hawkish but that the MPC was not on a predetermined course of tightening.

Even though the statement confirmed that policy settings remained accommodative, another change in the inflation paragraph was interesting: the MPC chose to highlight that "demand driven inflation remains contained."

These signals may dampen expectations for a successive series of rate hikes. Instead, the evolution of BNM policy is likely to depend on incoming data: we advise clients focus on inflation & its pervasiveness, and on systemic loans/deposits. Even though we would expect additional rate hikes at coming meetings, we expect markets may not price in more than one more rate hike at a time.

As a result, we do not encourage being short duration (or paid in IRS) at this time. And to the degree that hopes for aggressive BNM tightening were supporting the currency, we expect MYR may lose some of its recent momentum. However, continued recovery in external balances alongside favourable global environment remain supportive of the ringgit.
For now we retain our short USDMYR position, but we trail our stop-loss level to entry (spot ref: 3.1950).

MKH is dealing with necessities ... housing and foods. What more you look for!

Reluctant seller ..

http://www.thestar.com.my/Business/Business-News/2014/07/08/RHB-Research-retains-Overweight-outlook-on-property-sector/

Chen elder, the executive chairman, again acquired MKH shares from the open market.

CK thanks for the posting .. the MD says MKH has internal target to achieve 1.5 bil GDV over the its landbank. Not only the plantation will experience exponential growth, it seems the property segment also. He further said currently MKH has 700 mil GDV over its landbank.

Share price of Tambun and Matrix Concept has climbed steadily .. MKH to follow suit?

Chen elder bought shares from the open market.

FX movement is not friendly this quarter. But that provides you with opportunity to accumulate.

There was already a catalyst when the major shareholder pumped in their own money. Expansion in many fronts of the businesses. Happy investing! Another Nestle is in the making!

Malaysian Investor Relations Association awarded 'Best Company for Investor Relations (small cap) 2014' to MKH.

Boilerm and Lay Hong both have a steady climb in its share price .. optimistic that QL, which has significant investment in both companies, should follow suit.

Your money is invested in the land .. which should appreciate over time. :-)

Its associate .. Lay Hong share price jumps!

My return was 34% over the last two years .. or 17% a year.
A proven business model.

http://klse.i3investor.com/servlets/ptres/23578.jsp

MKH market value now at RM1.6 bil, the highest ever .. but still a long way to go to exceed 2 bil. MKH leverages on its current strong positions, no doubt about. Fellow investors .. a good bet to also leverage? Happy investing :-)

Hopeful that the FY2015 revenue could come close or even break the RM3 bil mark.