Hey guys. I m also a goreng fan besides being a value investor. Now I m in a goreng counter LBIcap Wa. Pls drop by:))

@PJss17. MI is Mission Impossible. Hehehe.... Excuse me. MI is minority interest. There is no MI in MMSV.

By the way, I m definitely not in the so- called expert and guru category. I m still learning and sharing what I have learnt to enhance my skill & confidence.

If we were to base on the so- called experts and gurus here, not a single counter in Bursa can be invested....especially if we were to discount future growth of the co not very certain yet!

That is not true Leslie. I have 8 stocks in my portfolio that fulfill Joel Greenblatt's formula with their current earning. I don't even have to do projection. They are

Latitud, Hevea, Homeritz, Mmode, Willow, Magni, LTKM, KSL

In fact I had more but I disposed the low performers for better monitoring. I have another stock that fulfill Graham's NNAV (the lowest form of valuation) ; Kuchai. I also disposed some low performers in this category.

Dun simply throw out words. Justify wat u said with facts. TQ.

Hi brother Frank. Thanks for your comments & kind words. The operatign margin that I used is lower than the net profit margin because I excluded "other operating profit", which I think is not related to the core business. I am only interested in profit related to the core business.

Anyone can share some views of the following:
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1749101

Thank you, stkoay. Although the infor is not directed to me.

I like to share my thought so that all experts here can give some constructive feedbacks.

Unlike matured companies that have proven track records, projecting earning for newly turnaround companies is a challenging task. Predicting cash flow in cash flow analysis is also uneasy. These companies are growing fast and need capital expenditure. This results in very lumpy cash flow. Therefore, I use Joel Greenblatt’s formula. Assume that I can buy the entire company at current market share price, pocket all it’s cash, pay all it borrowings and minority interest, with current
EBIT, what kind of return do I get?

EV(enterprise value) = Market cap + Borrowing + MI – cash – non-operating assets
EY( earning yield) = EBIT/ EV

Judging from the operating margin of MMSV for the past 3 quarters, I think I can safely predict the operating margin for Q3 = 18.5%. Multiply forecast Q3 revenue of 20mil to 18.5% = 3.7mil. The following is the TTM EBIT:

Q3 3.7mil Q2 3.15mil Q1 0.786mil Q4’13 1.021mil ; TTM EBIT = 8.657mil

As a value investor, I required EY of 12.5% (Warren Buffett requires 14%)
If we equate EBIT/EV = 12.5%,
Market cap = (EBIT/ 12.5%) - borrowing – MI + cash + non-operating assets (Eq1)

The corresponding share price for Eq1 is 48sen for EBIT of 8.657mil. Now we assume another scenario. MMSV can sustain 20mil sale and operating profit of 18.5% in Q4. TTM EBIT becomes (3.7 + 3.7 + 3.15 + 0.786 = 11.336mil). The corresponding share price for 11.336mil EBIT becomes 62sen.

So, do you think MMSV can sustain it's Q3 achivement? Or it's just a non-recurring event?

No report published by Benjamin yet?

We are investors. We only invest if we are convinced with results. We can always buy back if more potential is presented to us. There's nothing wrong buying & selling. Even the directors are doing so. If we sell then we must be prepared to buy at higher cost. Just dun shout around like madman RUN~~~~SELL~~~~~to influence others.

@cheinn. U r right. It all depends on why well we know MMSV. In all kind of FA analysis the accuracy is very much much dependent on input. (garbage in garbage out). If you can provide more infor on the sale after Q3 it would be very nice. My TP 48sen is based on TTM EBIT (forecast Q3 + previous 3 quarters reports).

@leslie. Pls show is your calculation to justify your opinion. As for Seal. How could profit increased so much but cash flow is negative? Can you explain?

Wa can go much higher relative to mother share. 4years maturity date is quite a long time & Wa deserves some time value. At least 20%! Those spotted Wa 有眼光!

Look at the Wa. Moving up smoothly. No resistance at all.

Last minit goreng up! It is well planned.

Unless the company make official announcement like the coming Q3 result we can't really make forecast.

My analysis is based on earning yield of 12%. I don't used FCF & earning projection because this is a newly turnaround company. FCF & earning based methods need consistency.

Already sold when hit 0.55. Judging from the predicted Q3 revenue of 20mil, and predicted operating margin of 19%. I only willing to pay 48sen for it.

All good news is already reflected in the current share price. After Q3 result then what? Can the subsequent Q results look better?

Private chat is very good suggestion. Or can use Facebook. Many investors are looking forward to more informative forum. TQ.

Not approve they wil tell you stail in progress or they wil appeal.

Already 4months still no approval? Must pay some kopi O money. This boleh land no kopi O no progress.

I think all the resistance is cleared. Time to soar.

Why up so much? Any stimulant?

LTKM

Scientx

Avg 4weeks volume is 1.2mil shares. Today only 706k. Gud sign?

In my opinion, when you see the trading volume decreases, it is good sign. No more ikan bilis dumping. Resistance is more or less cleared. Time for big boy goreng up.

Beware of two Sabah listed companies. Besides this one is TeckGuanPerdana. The bosses of both companies are damn rich. They list the non-performing businesses. Those very good profit they operate them in Sdn. Bhd. They are here to cheat money.

why? 2day T4 suppose to be collecting dead chicken time.

I know how to play this counter alr. Top up now.

Some one found a gold mine at the backyard of Kuchai?

To all comrades. Cheers!

The following is the operating profits & operating margin fro 2011 - TTM

2011 12mil ; 13.4%
2012 17.6mil ; 17%
2013 20.3mil ; 17.9%
TTM 27.5mil ; 21.2%

The TP wil increase in tandem with the operating profit. So, how could the TP be exceeded? In fact we should keep buying from time to time when ever we got excess cash.

At 0.92, the enterprise value of Homeritz, EV =138.4mil. With TTM EBIT of 27.5mil, EV/EBIT = 5. According to Waren Buffett, if you happen to find an company with EV/EBIT < 7 then you probably found a good deal. If we equate EV/EBIT = 7, the corresponding share price is $1.2. Meaning that even at the price of $1.2, Warren Buffett will recommand a value buy call. So, what are yoy waiting for? 92sen sapu saja la.....

I m still here. Bet still on.

????your nama is thinkbig. Why don't dream tat big?????

Chinasamy. PJDev must award us a condo for our faithfulness. Haha.....

Dark cloud is over. Here comes the charming sun light.

Good sign!

This time huat liao.

Look t oday's volume. Unbelivable.

The company is not selling asset to make it's income statement looks nice. It free up cash for land acquisition in Australia. Check the announcement. Venturing to Australia is a pretty smart strategy. Property is overheated in this country.

today is not KSL's day. today is MMSV's day.

some one pls slap me. am i dreaming or wat?

i believe i can fly~~~~~~~~~i belive i can touch the sky~~~~~~

The selling will continue because i know TA ppl believe onece 0.96 (for wa) is broken then it is reversal from uptrend. Well, there is always another uptrend. If u r not contra players waiting for a month or two is not a problem rather than selling at losses now.

I can't predict the price movement and i m sure no one can predict it. As long as it has it's value, and i know i m not holding garbage, then it's ok for me.

Have gut to collect now?