Altech Chemical just announced another round of capital raising to start the construction of the factory located in Johor. Wonder if MAA subscribed to the fund raising?

I decided to look back at a company MAA invested in, Altech Chemicals. Looking very promising with the starting of the construction of the factory, ready buyer and future the demand for HPA. Last MAA increased their share in April last year at AUD0.14 per share, Friday closed at AUD0.205, giving 46% gain for the increased portion.

As for MAA share price, their is someone selling a lot of shares at RM0.65. I picked up some and immediately, the seller adds more share to sell at RM0.65. Always 5 blocks of 10,000 shares. You buy 1 block of 10,000 shares, immediately it will be replenished.

At any rate, I am keeping my fingers crossed that they will be buying a manufacturing company and hopefully by year end make application to get out of PN17 and the share price will double from the current levels.

I think only in quarter 3 we will see any improvement on the log supplies. Government will have to allow a bit of time for companies to fullfil their obligations/contracts.

Results is good. Normally 1st quarter results is not very good. But this time showing a small profit as opposed to a loss in the same period last year. Only issue I have is the sales to China looks like slowing down. That is suppose to be a growing market.

I will wait and see the details of the investment before deciding if it is good or not. Hoping that it is a leverage financial deal.

I am waiting for them to acquire new core biz in Malaysia in order to get out of PN17. Just taking longer than I would like. Thought it would have been done by now. Guess have to wait till the next AGM to get updates. Hope got new info at the AGM and not give the same answers as last year.

Also, Geely actually wanted Lotus for their light weight technology, wasn't very interested in Proton. But deal was packaged and they had no choice. Let's see how it plays out. I am negative on DRB for now.

Heard the 2 shareholders of Proton, Geely & DRB, having issues. Could be played out in 2 ways:

1) Geely take 100% of Proton - This would be good for DRB. Given election coming, I don't think this will happen for the time being.
2) Geely pull out of Proton - Not good for DRB.

I currently don't own any DRB shares as I had sold during the recent run-up.

Agreed. No vision this CEO. Going into property when property market is super soft. Need to get someone that thinks out of the box.

Wow!!! Got people who don't read/understand the whole story and make statement like questions. My advice, don't invest in something you don't understand.

Where you guys hear the news of the MBO & dividend? Couldn't find anything.

Fish business after so long still making losses. Keep on giving excuses like they still learning and making millions of losses. Hope the same doesn't happen with the gold mine!

Results is not good. Management expect profit to remain at current levels for Resins and Ethanol segments for the rest of the year. With strength of ringgit, we can expect to see continued unrealised forex losses in the investment division. Only positive is that this is the first quarterly net profit after 3 quarters of net losses. Foresee that the company will remain profitable next quarter too. Unfortunately, forward looking earnings won't be strong. Price should drop below RM0.70 based on historical P/E ratio.

Moving forward, given the log supply issues, can expect the annual EPS to be about RM0.061 per share. If based on previous dividend payout ratio, can only expect a dividend of RM0.02 (if declared). With the uncertainty of the dividends and when the log issue will be settled, I agree that the stock price will drop to below RM1.00.

If we annualize the EPS. Profit not so good resulting P/E ratio on the higher side. Management said log prices will remain high. Additionally, there was a shipment delay last quarter and sales recorded in this quarter. If no delay, results would have been worst this quarter.

Dividend coming towards month end???

I believe the strenght of Ringgit is effecting the stock price. Most trade is done in USD. This will effect margins/earnings as lower RM will be collected. About two thirds of their revenue is derived from overseas market. Not so much of Proton want to decrease price of 30%. Proton is not a major customer for OCNCASH, there would be an effect but not significant.

As always, agree with James. Next year, got RM93.75 million cash coming or RM0.34 per share. Can expect a special dividend from than also.

Danny123, why you so racist? This is not a politically connected company. Politically companies connected to Indian and Chinese also got siphon out $$$. Owners are N9 royalty. This is a very Muhibbah company....look at the senior management team. Please stop being racist.

Long time didn't come to this thread. Nice to see Danny123 adding some spice here and he got me worried with my investment here. As such, I want to clarify a few things that Danny123 brought up.

1) Invested in Loss making company in Australia:
My understanding is MAA has invested in 2 companies in Australia
i) Columbus Capital, which is in the retail mortgage business, this is profitable, as in the last quarter report said contributed RM1.864 million in protfit after tax.
ii) Invested in Altech Chemical at AUD0.14 per share. This is a start up mining company, going to produce a HPA at a factory in JB using resources from Australia. I am sure no one will start a company that is going to produce a product with no demand. Yesterday Altech share closed at AUD0.18. Still giving a positive paper ROI.

2) More Insurance Claim in Philippines.
True as stated in their Quarterly report. But still generated a profit RM2.387 million in the last quarter report. Suppose the claims went up but revenue was still able up to cover the increased claims. Would this mean as claims stabilise, profits will be better or are we expecting claims to increase higher than revenue increase in the future?

3) Invested in ghost car park in Klang.
Here I believe they did not invest in the car park, but got the property and car park on a settlement of an account receivable that had previously been written off. My take on this is that it is better to get something rather than nothing. Additionally, to me, you never go wrong in property investment. When property market rebounds, as expected in 2019, hopefully, they can sell can realise gains or rental rates will improve. Since a lot of parking, would be good for office tenants.

New 52 week low.

Bioalpha is now in my watch list. I like how sales and profit have been growing. I like how they are involved in upstream and downstream operations. Only problem I have is that they keep issuing share option that is diluting earnings and net asset per share. Also ringgit has been going up and this is not good for exporting companies. Might invest a little bit and see how it goes.

Had a good run. Sold at 2.42. Wait and see now.

My mid-term target price is RM2.42 and long term target price is RM3.37. Can refer to my earlier comments on my justifications.

Finally, been waiting for months to go above 1.86. Now waiting for it to hit my target price.

Hope it stays above 1.77 and close above 1.86 first. Than 2.00 will be tested.

I just got back from China. Cash is dead. Everyone using WeChat on their phones to order & pay for stuff.

Bought Altech shares at about AUD0.14 per share. Share closed at AUD0.21....a 50% gain. Am I reading this right?

https://www.bloomberg.com/quote/ATC:AU

http://malaysiandigest.com/business/711760-cyberjaya-aims-to-be-first-cashless-city-using-e-wallet-tapay.html

Agree with Clearsky. Would not propose to submit unless have already met all guidelines to get approval for transfer to main board.

Let me give an alternative view. Fund managers replacing portfolio with other growth stock.
Director no money until have to force sell share to pay interest.
Yesterday market capitalization drop below RM500 million, no more mid cap, mid cap funds will start selling.

DRB not only Proton car. Many subsidiaries.

Impressed with the results.

Anyone know who took up the private placement?

Private placement executed. Does this mean operator need not support at 0.24 anymore? What you guys think?

Yes, saya sudah stand-by...tunggu kat 1.70.

4444, 30th Sept quarter results won't be as good as future results. As 30th Sept, DRB still carry 100% of Proton loss. We will see great improvement when the 31st Dec Quarter results come out.

The dividend yields at the current stock price looks good. Better than FD.

MichaelGoh, at this price you might want to collect some.

I am not talking about 3 years time. I am saying NOW is not the time to buy. Stock is expensive based on current results. Like I said before, only buy when got clear indication. If pay a bit extra still ok.

I don't own KNM right now, it is in my watch list. Seeing if there move into RE bears results.

I still don't understand why you said my P/E ratio calculation is BS. Would love to see how you calculate.

0.06 sen = RM0.0006

I think the best thing to do is do nothing. Share price will likely be at the current level +/- a bit. Probably more to the negative side. My reasons is as follows:
1) Monday is Ex-Date for Dividend. So cannot chase dividend.
2) As mentioned by Khuen, results for 2018 will comparable to 2017. No catalyst for share to go up.
3) Any write-back of Tembusu loan will take time, more than 1 year.
4) Diversification will take time to bear results, again more than 1 year.
5) More negative as the uncertainty of the impact to the alcohol segment.

Just my opinion, decision is yours :)

Go back and look at my comments last 1 month and see your comments in the last 1 month. Compare with the share price and you will clearly see you are the bigger bulll-shiter and if people listened to you they would have lost 15~20% of their capital.....Hahaha

Thank you for the AGM updates.

So after the private placement, compounded growth of 25% every quarter the P/E ratio will be 61.05 times.

Opps....I forgot, private placement coming, increase shares by 10% resulting dilution of EPS, This will make the P/E ratio even higher.

I still think it is expensive. Latest quarter EPS is RM0.0006. If we annualized it, it will be 0.0024. Based on Friday closing price of 0.24, gives us a P/E ratio of 100....extremely expensive.

I know we not suppose to look at the past and need to see the future potential. So we extremely confident and say earnings will grow 25% every subsequent quarter for the next 4 quarters. So next Quarter EPS 0.00075, grow another 25% the following quarter to 0.000938, another 25% to 0.001172 and another 25% to 0.001465. This will give a forward 4 quarters EPS of 0.004324 (which is very unlikely) or a P/E ratio of 55.5. Still very expensive for someone who is super confident.

Based on this, you berani to collect? I will wait.

abcd, I am unable to attend the AGM. Can you please ask what % of the Tembusu loan does the Board thinks will be recovered after legal or any other fees. Why did they provide a 100% impairment? No confident to collect any amount?

Additionally, on page 85 of the annual report they have 3 subsidiaries listed as pre-operating, what business are they getting into and the prospects for this business.

Loss is due to 100% impairment of the loan and receivables from Tembusu amounting to RM28.54. million. Other segments were profitable. If any amount of this is recoverable, than there will be a write back in the future. This was announced on 7th of November and the stock gap down the following day opening at 0.93 from previous day close of 0.985. If gap down on Monday, it will be a good opportunity to collect.

The adjustment and elimination is for consolidation of accounts purpose. In another word, removing (eliminating) inter-group sales/profit in the consolidated accounts. As such, final reporting sales/profit from outside of the group.

TheContrarian, No mention of dividend. Unless I missed it again..... maybe like last quarter, only announced in this quarter on 14th Sept.