@Chiovo Capital,. With due respect, I think you are wrong on MNRB with your outdated report. Just like you were very wrong on WCE the first time and wrong again when you try to right the earlier wrong . We yet to see WCE inching to $1.53 which is your latest valuation based on present value . WCE is only $0.43 yesterday , a far cry from your valuation.
My personal friend who is a senior executive in the insurance industry for 30+ years view MNRB positively. He is the man in the industry , but you and I are not ! There is big difference.

Apart from REITS, I don't think it is a common practice for companies to revalue their fixed assets regularly and book the gain, if any. Only when the fixed assets are yielding negatively, revaluation and impairment to the asset may be necessarily carried out. All plantations companies don't revalue their lands unnecessarily unless for disposal reason .

The bashing KYY received is absolutely not warranted. This 80 years old senior , a philanthropist , does not deserve the attack , some are very very rude !!! He is merely sharing his views. He does not guarantee you profit . The investment or trading decision is entirely your own responsibility. Let's be more mature and civilised in our behavior.

There is obvious difference between trading and investing . If your objective is trading for quick profit, you are sure very concerned for the day to day movement of the stock and angry when the price dip.
If you hold an investment view, you don't bother the daily or weekly price movement so much but more interested in the fundemental and the eventual return. It's your choice.

Selling the non core and non strategic assets is the way to go . I think more to come. I read it as positive development.

@Moratorium,. My short to mid term TP (1-6 mths) is $2.50. longer term TP (1-2 years) is $3.50 which is at least 1x book value and assuming dividend yield to improve along the way .
The short to mid term Tp is based on PE of about 10x which is undemanding given its growth potential despite lower dividend yield now. I think dividend yield will catch up starting current FY.
The longer term TP is supported by double digits growth potential in sales and NPAT. Revenue and NPAT growth for last Fy ending 31/3/2020 was 12.3% and 27.3% respectively. Revenue and NPAT growth in current FY for 9 mths ending 31/12/2021 is 11.4% and 48% respectively. Apart from Re insurance, it's Takaful ikhlas ( family and general insurance) will be leading the expansion.
If you check the leadership and key management qualifications, you will agree that the company is run by experiencef professionals. Group CEO , Mohd meridian was previously CEO of Etiqa insurance and CEO of Maybabk Ageas. CEO of Reinsurance unit was CEO of Cimb Aviva and CEO of Hsbc Amanah Takaful etc...
Just my view and expectations for sharing. Not a buy or sell call.

Also, AlsvinChangan claims that the reinsurance business is the most risky one . I don't think this is in anyway reflected in the financial results in the reinsurance segment of Mnrb since listing . The annual reports for many many years are available in Bursa website for your checking. Don't make statement that you can not defend !

@AlsvinChangan,. PNB selling down because MNRB is non Shariah compliance doesn't hold water at all! Firstly, MNRB is always not lin shariah compliance list published by Bursa,. now just today. Secondly, in PNB's portfolio there are other non Shariah stocks too. Thirdly, if shariah compliance is the issue, PNB/ASB shall dispose TOTALLY all MNRB shares . In that event, PNB/ASB will not sell in the open market but sell the whole lot to a buyer In order to get much much higher valuation. You may know when PNB sell the whole lot of CCM to KLK , they get about 3x higher price than the 6 months average traded share price . Mphbcap sold 49% of it's small insurance unit to Generali for about $350 mil based on over 3x book value . Book value for MBRB is about $3.50. How much do you think MNRB worth if PNB decide to sell the whole lot or substantially??
I decide to respond to you is to give other investors a fair and different perspective to analyse before making buy or sell decision.

Hope the sifu out there share useful experience, knowledge and information about AZRB for the benefit of the investing community .

This forum has become a quarelling forum ! It shouldn't be like this.

@positiontrader, did KYY petsonally told you his average cost is $0.85? or it is your guess?

@ooihk899, the reinsurance segment is still controlled. As far as I learned from a very senior executive in the industry, local insurance company are required to cede a portion of the insurance risk to MNRB . Only in circumstance where MNRB has exhausted the capability to take more , local insurance companies can then reinsure with other external parties.

I am not encourage anybody to buy or sell. Just sharing my thoughts and hope it invoke some deeper thinking as I see a lot of irrational and unjustified comments in this forum.

Is PNB and ASB thinking MNRB is now over- valued and hence selling down?
Is an Insurance company of PE 5-6 and hold the sole reinsurance license and in a growing Takaful insurance segment overvalued at this price ?
If nos are the answers, we must think rationally what drive the action of PNB/ASB (especially it have resulted share price increase)?
Who are the buyers ? Traders and speculators ? I doubt so.
Is PNB and ASB who collectively hold about 57% in MNRB paring down to provide liquidity and efficiency for foreign and local institutions' to buy in? Is PNB and ASB action is trying to get fair valuation for MNRB share price ? We must know that institution investors don't buy illiquid stock ( lack of free-float) and too tightly held stock until the controlling shareholders pare down. I remember PNB has said not too long ago that it is not their investment bstrategy to have management control in the companies they invested and therefore intend to pare down in companies which they have high stakes.
Food for thought!

PNB + ASB sold a total of 11.1 mil share on the 1st 3 days of this week consecutively;
On 15/3. 1.59 mil share
On 16/3. 3.62 mil share
On 17/3. 5.91 mil share.
Judging by the incrementsl Volume of disposal in from 15/3 tob17/3 , I suspect large amount of share ( may be another 10-12 mil shares) may have bbeen disposed on 18/3 (Thursday) and 19/3 (Friday). If my guess is somewhat correct, total disposal on this week would be well over 20 mil shares!
MNRB share price closed at $1.27 last Friday (12/3). It closed at $1.42 this Friday (19/3). It is clear that the huge disposal has even resulted its share price to go up by about 12%! KYY only came out to say something on NNRB this Friday afternoon. Food for thought!

Plastic raw material such as PP , PE etc at record high. LCTITAN shall make very good profit for the next few qtrs.

@mfbs, you seem pay a lot of attention on this rubbish company. Ii think it does not worth your time .

I think what KYY said about MNRB make sense right ? The numbers are in the annual report and can not lie.

Irrespective of what KYY says and what his motive is ,. one must still look into the fundemental of the company before buying in .

Hopetobecorrect, nothing wrong to take profit. But I prefer to stay a bit longer with this counter.

PNB and Amanah Saham disposing some share in MNRB may not be a bad thing. Let's also think what's the motive behind and for whose benefits?
Who is the buyers ? Not necessarily retail investors. Just to share what cross my mind.

Moratorium, TheContrarian may be looking for $0.90 as re -entry price. Hahaha......

I prefer they raise the Dividend instead. Should at least pay $0.20 special dividend lah...

The uptrend can not be a straight line . I think some profit taking along the way is normal and healthy . I am not worried as I am prepared to ride with it.

In hibernation mode for 2 weeks . Will it roar soon ??

Yes, construction and property counters are attracting attention recently. WCT had gone up 20% . Watch out for Gadang.

Fundamental 123, good that you spotted Willowgen as a star. You must divert more resources to it .
However, My conviction is with MNRB.

I just wonder why the haters and pessimist of AZRB even bother to appear in AZRB forum if they dislike it so much?? Trying to inject negative sentiment for a personal reason? ?

CharlesT, just simply bbased on EPS and Dividend yield. MNRB EPS is about half of Takaful. I also expect full year dividend for FY ending 31 March 2021 to be about half of Takaful too. That's my basis for my 1st level TP. In a few years down the road MNRB can potentially be as good as Takaful if they continue to achieve high growth in the untapped takaful insurance market. The government policy is supportive of this market.
Perhaps MNRB should be closer to Takaful price if you consider the higher NTA per share compared to Takaful.

Azrb concessions business is contributing stable profit. The plantation segments should be positive with high CPO price . The drag is in infrastructure segment with few contracts in the past 1 year. Should the company be able to secure some infrastructure contracts, the rating and share price can stage a strong rebound above $0.50. Just my take .

Takaful is $5. If MNRB is half of Takaful, it is $2.50.

Yes! MNRB touched $1.46! Very bullish.

Yes! It’s charging ahead !

Everyone wants to make big money. But some degree of professionalism , credibility and consciousness is necessary.

No announcement by Bursa for any request for suspension.

FCPO traded in Bursa for Apr to Dec 2021 is close to $4,300 (Apr) and $3,500 (Dec) . Are the anayst thinking the plantation CEOs are fools for not selling their future months harvest now with huge price gains? Do the analyst talk to the various leadership in the plantation industry to know the ground ? Or they just pluck numbers at the comfort in their office?

The IBs and analysts who are still predicting and average CPO price for 2021 at $2,700 are out of touch of the market. Let's do a reverse calculation. Average price for Q12021 will likely end up to be $3,900. In order to stay at $2,700 as average for full year 2021,. The average price for Q2,3,4 will be $2,300 . Is it reasonable to see a plunge of CPO from $4,200 to $2,300 amid very low inventory , production bottleneck , elevated Brent , strong biodiesel mandate in Indonesia etc?

I am very passionate for the turnaround prospect for Bplant and Bstead . I started accumulating these share since June last year and continue to buy on dip .
I have No ulterior motive for my sharing of information and view points. Do your own evaluation and judgement.

For Bstead , the distributable retained earnings as at 30 Sept 2020 is $228 mil or about 11 sen per share. Again , Bstead suffer huge losses in 2018 and 2019 due to impairment& amortisation of $262 mil and $1.33 bil in 2018 and 2019 respectively. These are non cash items . EBITA for 2018 and 2019 are positive and at about $337 mil and $441 mil respectively. Hope for Bstead turnaround is very good.
Who knows if there will be reversals of some of the impairment made in 2 previous year ?

Bplant EPS and Dividend from 2014 to 2019:
2014 EPS. 4.34 sen. Dvd. 6sen
2015. EPS. 4.91 sen. Dvd 13 sen
2016. EPS 14.24 sen. Dvd 14.5 sen
2017. EPS 41,58 sen. Dvd 19.5 sen
2018 EPS (2.31) sen dvd 7 sen
2019 EPS (6,43) sen dvd 1 sen
2020 EPS ?? Dvd ??

AllantingAS, whether a company can afford to pay dividend you must look at the distributable retained earnings and cash flow of the company. A loss making company can still pay good dividend it has distributable retained earning and healthy cashflow. Quite often a company make huge losses are due to impairment which is a non cash item but merely an Balance sheet accountibg item. For Bplant, distributable retained earning as at 30 Sept 2020 is $1.146 billion which is enough to pay up to $0.50 per share of dividend if they have the cash to do so.
Plantation companies usefully generate a lot of operating free cash flow , especially so with CpO at $4,000 level.

Norazmi, Many IBs or analysts are still in denial mode and keeping citing insignificant issues and propagate negative sentiment to dampen the sector's prospect. For example, they blow the $2 per ton in cess out of proportion in the media. What is $2 per ton over a price of $4,200 ????
Those analyst with the Investment banks are real nuts and they know nothing about this sector.

Opportunity not missed at all. $0.60 is still very cheap.

It's MSM in the making.

because the positive sentiment is spreading to broader market and is a good development.

I will hold for a couple of weeks more.

TP $6.00

Chiovo Capital value this at $1.50+ very recently.

Today take rest for the next big rally.

Once productivity of the estates improves (currently low) and more asset monetisation take place, this stock will fly ....
It's a matter of right market condition to dispose some valuable estate land to raise a couple of $billion.