Very soon KL working days is Sat and Sun, weekend is Mon to Fri. all follow Newman play sharemarket

Welcom hongsaw407. I wish I can share my views on Symlife but I did not follow it.

A orderbook Rm1.2bil and a tenderbook Rm1.6bil penny stock

Just check the charts, volumes etc... Yup, next week, it will start weak, and end the week above 0.80. Hope its right

Facts alone will ensure the chances of it moving away from being a penny stock

Is it true, Lim?
There were few time that I notice it was.

Since it is still value at penny stock, it can go up very fast once market realized that its projects are as hugh as Gadang.

Firebird welcome FlappyBird

At current price, my most conservative estimate for this financial year FY14, EPS can be around 15, PE=78/15=5.2. It may be much better.
If you think the PE for this type of company can be at least 10, the share price should double then.
What is offered for sale now at 78c is selling cheap and a very good cheap deal for any buyer who looks forward.

You are welcome.
Do not worry about short term fluctuations.

A major upward rerating will unfold if end of the month results is as good as the last quarter (Q4FY13).
Keep it for another 3 to 6 months, I think you can get at least a 50% gain from the current price.

Q1FY14 Results and Dividends will be out end of this month, May.

Please use the facts and figures to determine if its good for investment. It's posted by Johnny Cash. Will it be still a penny stock in the months ahead, just ask yourself.


Posted by johnny cash > May 6, 2014 06:59 PM | Report Abuse
INVESTMENT MERIT

Mitrajaya’s earnings have reached an inflection point after its core net profit (netting off the RM4.2m land disposal gain in Rawang) grew
significantly by 40% to RM25.1m in FY13, driven its construction and
property divisions. According to the management, its orderbook has
reached its all-time high of RM1.2b (3.3x to FY13 revenue), 140% higher than that of its previous historical high of RM500m. As for its property division, there is RM80m locked-in sales, which will be recognised this year and about RM146m ready stock yet to be sold.

Based on our conservative analysis, we forecast Mitrajaya’s core earnings could at least report high double digit net profit growth of 52% and 31% in FY14 and FY15. This is substantially higher than that of our construction universe’ aggregate FY14- FY15 earnings growth forecast of 16%-9%.

Tenderbook of RM1.75b, targeting to win at least RM300m this year.
Tenderbook includes: Petronas RAPID project (RM600m), building works
for Ikano Cochrane (RM350m), infra projects for ECERDC (RM300m),
building works for Bandar Setia Alam (RM300m), and building works for
Putrajaya (RM200m). The management expects to win at least RM300m
this year and that, we believe, will be coming mainly from building works in Putrajaya and other infra projects. Note that Mitrajaya has established a long-term relationship (10 years) with Putrajaya Holdings through its excellent project delivery track record. The latest project they secured with Putrajaya Holdings Bhd was the RM427m MACC Building last year. With this track record and background, we believe Mitrajaya is well-placed to win more contracts from Putrajaya.

Key catalyst for property division: Wangsa Maju. Mitrajaya will be
launching a property project comprising 3-blocks of luxury condominiums in Wangsa Maju starting 4Q2014. Total GDV for the whole project is estimated at RM650m and it is located right opposite Wangsa Walk Mall and is only 150m away from Sri Rampai LRT station. Despite the property cooling measures, we believe this project will achieve strong take-up rates due to the strategic location. According to the management, 1st phase of the project will be around RM200m and we expect this project to contribute significantly from FY16 onwards.

Other businesses to support earnings growth. We understand Mitrajaya
has other businesses, including (i) a 51% stake in Optimax Eye Specialist Sdn Bhd, one of the largest optical companies in Malaysia and (ii) 152 acres of bungalow vacant lots and 18-hole golf course in South Africa. The former contributes about close to RM1.0m last year while the latter contribute about RM5.0m last year mostly through land sales. We expect at least it could maintain the same quantum of last year’s profit through land sales. We believe these two divisions will likely continue to support its earnings growth in the foreseeable future.

Forecasts. We forecast its net profit to grow by 52% and 31% in FY14 and FY15 to RM38.3m and RM49.9m, respectively. The earnings growth is
based on the following assumptions: (i) orderbook burn rate of 33%-35%, (ii) new contracts assumption of RM300m per annum, (iii) unbilled sales of around RM80m coupled with expected new sales of RM50m-RM115m in FY14-FY15.

Fairly valued at RM1.13, TRADING BUY. We reckon that this underresearched stock, Mitrajaya, is one of small-cap stocks with good growth prospect that worth considering given its visible earnings growth prospects.

At current price, Mitrajaya appears very cheap as it is only trading at Fwd-PER15 of 6.0x against its small-cap peers average Fwd-PER of 8x-10x. Benchmarked at 9x fwd-PER on FY15 earnings, Mitrajaya is fairly valued at RM1.13. TRADING BUY, as the stock offers 50% potential upside.

At 15.00, after dividends, its 14.78, and after bonus and split , its 3.695. Don't you think its worth more?

43mil shares issued, management should be able to expand its size.

Summary

Year 2013
Net profit = 9.576m
Div = 12c
EPS = 22.09c
PE = 13.13
Share price 2.90

Year 2014 (9mths)
Net profit = 38.98m
Div = Int 8c Ex 14/3/14
EPS = 38.98c
PE = 13.13
Assume EPS 50c, PE 13.13
Share price = 13.13x0.5= ?

05/03/2014 11:15

Yes novice8, I am in. So, while waiting for the projects to bear fruit, I enjoy some dividends too, they do pay very well. I heard the MRT will be extended to near the DeCentrum project. Contrary to what some investors believe, its barren land if its not developed, but it will turn into a magnet once you have development.

Shares issued, 334,235,090.
Expected earnings Rm170,000,000
Estimated EPS = Rm0.50
If assumed PE=12, Price = 12x0.5 = Rm6.00
When the earnings comes in, lets see.

I added more this morning at 15.00

Better corporate exercise, since small number of shares issued now. Do a bonus and split better, and it goes up to Rm8, LOL

Buy and keep it as a mid term investment, you will gain from it.

Hi DC, Yes, I hope to meet up with you too in the AGM.
I let you know when the time is near if I will be able to attend.
Thx

I dispose mine long ago, took a loss, at that time, going forward I didn't see any way that they would make good profits, nothing to hope for, not even a turnaround. so that's why. I don't regret

We wont know till they announced, so disadvantaged. Meanwhile those with info might take in more early.

Havent seen this buy Q volume for a long time hehe

Mitra's fundamentals will improve, going by the number of projects secured and good execution. I believe in it.

Div 22cent, ex 20/5/14

vinvin, its ok, whichever way they want to go, I have locked in enough, lets wait and see. I am just small fish.

In1792,
I believe I haven't spoken to you before and am surprised that you knew I sold all and waiting to buy..

In1792,
I am not sure yet, as I think by just using a test pen (PE), there would little incentive, but I reckon the long term is as good as ever because they have value and growth creative management. I am waiting for a good time, if you have any good ideas to share, I may jump in. Thx

DC, MD of Superlon, is it?
I thought she sold out, and no longer a major shareholder with 5% or more, but still MD maybe?

bboycs, its the right time to collect and not wait till its expansion is in full bloom, by then it will cost more. Just buy and hold for long term, check the 5 year chart to understand more. thx

Yup, I can understand why you choose to sell off CCM. I did the same too when I attended the WTK AGM, I sold off immediately after I reach home from the AGM.

This one or two months I have to wait to see if CBIP price will drop or not, as I still want to exceed my max limit, think I should set another new max limit for certain counters. I see it as having very good potential future and now is the time to build it up. Yes, ok, if I am attending I will let you know and we can meet then,

Superlon will get its act together, after the failed diversification I manage to have more understanding on what they were doing and I believe in them. Btw, who is Jessica?

Nn77, do you have this ︶ at the lower part of the character space, to be used as the mouth to create a laughing mouth?
and this ︿ at the upper part of the character space, to be use as the eyebrow? thx

DC, looks like you have become a diehard fan of CCMDBIO and Tomypak. To plan for attending the AgM in these places is really a eye opener for me, as I have never done that before when its out of KL.

CBIP is my next one close to exceeding my very own max limit.

Abt Superlon, if they have further plans after the share buy back, then perhaps liquidity isn't a problem, as with only 80mil issued, after buy back, split or bonus, LOL. Its a hugh market in India, if they get it right.

You guys know what, I copied this symbol, the eyebrow and the mouth, into my comp so that I can use it too o(︶︿︶)o. But I need the eyebrow to be use as the mouth, but I need it on the lower part of the character space, can you send one to me? Plus also the mouth here to be use as the eyebrow. Its to create a laughing mouth. Thx guys

oh... no wonder I cant find any on my notebook computer. its on mobile phone... thx anyway

DC, I have neither Tomypak or CCMBDBIO, by the way where is the AGM?

I hope Wellcal's plan is still on track, start building the factory, and production in first half 2015. Phew... then the price will get a lift. Just wonder who is disposing ard 1.45 always, LOL

Are you still keeping Superlon, its unlikely to drop below 0.60. Am holding still a lot, but was hoping it dropped more so that I can fully load. It has initiated share buy back. And now expansion into India.

hahaha, Nn77, very nice symbol, I like, LOL, you are creative. How did you get the eyebrow symbol? thx

Hi DC, am just waiting at the sideline, I still see market weakness and not the right time to move yet. In any case, Wellcall is now my biggest holding, and I have not sold any. I have a max limit to any counter that I buy, this one has exceeded the limit but I still will add if the price is right, how abt u?

vinvin, that's right, my neck is painful, waited in the queue since this morning, I thought they want to sell and not stop. We will wait for them, now is we small fish want to feast on a shark, LOL

31500 shares traded. EPF not selling? Been queing since this morning at lower, hmmmm

Cheers connie, me having one too

Very defensive good counter. Ask those who had kept it long ago...Fantastic dividends every year.

yay heavy rain now, tmr public holiday, where and what else to do, except.. Cheeeeeeeeeeeeerss

100 lots will be based on the price that you see in the screen now.

(8) have a foster or budweiser

I suppose from the 30% who never came back, some might have committed suicide. LOL, scary

No worries, keep as long term investment.

DC, ok thx, now at least we know that if piling starts next month, it is on schedule as what they planned.
Are you very familiar to that area Pusing? places like Kapan, Tualang, etc....

wow

The new factory site is currently already leveled, rite?
I suppose the piling and foundation will soon start?