xaiochen has a point here, in addition to so many great things happening in YTLPower. But most analyst are still sleeping on the job and not telling you anything!

Construction of the project’s infrastructure began in mid-2017.
The first unit (that includes an open-cast mine) went online on 26 May 2021.
NEPCO had requested arbitration, but legally, they cannot claim “grave deception” as the government and NEPCO were aware of and agreed to the set prices when they signed the agreement in 2014.
For China, it is one of Chinese largest private financed infrastructure project outside China under the Belt and Road Initiative (BRI) and using limited recourse debt financing, securing $1.6 billion for 15 years, backed by export credit insurance from Sinosure
[I don't see Jordan messing around with China? I think YTLPower got a good powerful partner]
Attarat will be the first and largest oil shale-fired power plant in the world!
Once all the kinks are ironed out Attarat will become another big cash cow for YTLPower
Because right now with the price of Oil/Gas sky high, ........ the economics of Oil Shale mined by open-cast mining will be very bright!

The agreement between NEPCO and Attarat was signed in 2014, at an estimated cost of $2.1 billion and it’s stipulated 470 (554 gross) megawatt capacity will provide 15% of the Kingdom’s electricity requirements.
Attarat Power Company (APCO) is a joint venture between China’s Guangdong Energy 45%, Malaysia’s YTL Power 45%, and Estonia’s Enefit 10%. The contract was awarded as a fixed-price turnkey Engineering, Procurement, and Construction (EPC) contract in 2014.
The IPP project will supply power to state-owned National Electric Power Company (NEPCO) under a 30-year power purchase agreement (PPA) with a competitive tariff and minimum linkage to the global oil price. [Isn’t that good?]

Re Attarat ….
Jordan’s Nationl Electric Power Company (NEPCO) which 100% owned by the Govt of Jordan owes a lot of debt. This debt is now taken over by the Govt of Jordan. The new electricity tariff to consumers that take effect as of April 1 is still heavily subsidized by the Govt.
Jordan has plenty of oil shale reserves (top 5 in the world).
Obviously, Jordan should rely completely on its oil shale reserves to produce electricity, so that it does not have to import oil and its energy needs from Egypt and Israel. Attarat uses this oil shale to produce electricity. But if you don’t understand what is oil shale ….Oil shale is different than shale oil in that oil shale is essentially rock that contains a compound called kerogen, which is used to make oil. Shale oil refers to hydrocarbons that are trapped in formations of shale rock]

EPF (plus Amanahraya, & Kumpulan Wang Persaraan) have been relentlessly selling blue chips like MBB, PBB, Sime Darby &Plant, KLK, IOI Corp, YTLCorp, Alliance, RHB, HapSeng, etc. all blue chips. What a let-down by our local institutions. They must be desperate!
https://www.theedgemarkets.com/article/epf-accelerates-profittaking-local-equities-march

Whatever the facts are, EPF doesn’t care and continue to sell, as they are desperate!
Don’t understand why YTLPower doesn’t buy-back the shares and cancel them, to create more value per share for shareholders? They have the cash to do so.
Right now EPF still holds 5.4% of YTLPower.

Let’s recap what Datuk Yeoh Seok Hong said ….
“There is a lack of understanding on how these assets should be valued,” group managing director Datuk Yeoh Seok Hong tells StarBizWeek.
He explains that the regulated assets…..their value goes up as time goes by.
“Every five years, we have a programme with the government to invest. Then the asset values will go up and after deducting depreciation, we will get the new asset value calculated,” Yeoh says.
He cites Wessex Water in the United Kingdom, which is wholly owned by YTL Power, as a regulated asset.
He adds that regulated assets are also “inflation protected”.
“If inflation goes up by 5% every year, the regulatory capital value will likewise go up by 5%. The asset value will never be depreciated as it will always go up with inflation,” he says.
“I did speak with several analysts earlier and I asked them how much did they value the ElectraNet asset. They told me they did not ascribe a high value to the asset.
“But now after we sell it, people begin to understand what’s the actual value. Buyers are willing to pay 1.6 times the RCAB for ElectraNet,” Yeoh says.
For its Wessex Water unit, Yeoh says that its RAB has more than tripled in ringgit value since its acquisition back in 2002 to £3.5bil (RM19.29bil) today.
“This is if you take the same 1.6 times regulatory capital value multiple paid to us recently from our ElectraNet and apply it to the Wessex Water asset,” he explains.
The Wessex Water currently has an enterprise value of £5.52bil (RM30.43bil) and a net debt value of £2.35bil (RM12.95bil).
Yeoh notes that he considers this as a growth asset, which not only provides dividends but also an increase in RAB value through new investments.

More on Wessex ….
Switch to a meter - Wessex Water (17 Feb 2022)
https://www.wessexwater.co.uk/-/media/files/wessexwater/your-home/water-meters/switchingtoameter.pdf
All properties supplied by Independent Water Networks are metered. Properties constructed before 1990 were given a rateable value by the local council in order to calculate council charges. This rateable value is usually used by water companies to calculate water charges on properties without a meter. However, since the way council charges are calculated has changed, councils no longer provide rateable values for new houses and water companies now tend to fit meters in order to calculate charges.
Same. in our local context, some years ago, apartments/flats/condos used to be charged fixed rates meaning people waste water, but now all units were fixed with water meters, so a lot less wastage.

https://www.theedgemarkets.com/article/midf-raises-target-price-ytl-power-20-factor-rm306b-cash-electranet-sale
“Wessex Water [is] another deep value asset of YTLP, [which] could fetch an equity value of RM13.7 billion (RM1.68/share), more than double YTLP’s current market cap,” it added.
I don;t mind YTLPower selling Wessex and I get RM1.68 a share. Hahaha!

DNB extends FREE 5G network access to telcos until 30 June
>>> DON'T WAIT! >>> Switch to YES!

DiGi market cap RM30b
Maxis …………. RM30b
YTLPower ……. RM6.3b
(even though it has netted RM3b cash from its sale of 33% ElectraNet.
Also what about YTLPower other assets?)

More on YTLPower's YES ….the big four telcos (Celcom, Digi, Maxis and U Mobile) (MNOs)…. yet to agree on the key terms in the RAO document….recent analyst report suggested that open topics between DNB and DNB’s key prospective customers had been resolved is inaccurate! …..(The telcos have proposed to develop another 5G network alongside DNB)
DNB CEO Ralph Marshall revealed the total cost of 5G rollout is RM16.5 billion.
Why does these 4 telcos want to spend another RM16.5 billion? How are they going to share it among themselves (Celcom, Digi, Maxis and U Mobile) Won’t it make (Govt’s) DNB redundant?
>>> Basically these MNOs are still selfishly fighting the govt for their own self-interest!
>>> Good for YTLPower’s YES!
“Yes is still the only operator to offer 5G services in the country” The longer it drags on, the better for YES. It has been more than 2 years now that the newer hand sets are 5G capable but not utilized. More people will switch to YES when they cannot wait.
https://soyacincau.com/2022/04/08/celcom-digi-maxis-and-u-mobile-dnb-rao-does-not-enable-affordable-and-quality-5g-services/

Maybe YTLPower should consider selling off Wessex and shift into the "lucrative" renewable energy sector. Sun Cable proposed A$30b project is really mind-boggling. Have they done the sums to think that it is a viable project? (Even Dr M's long ago idea of transporting power from Bakun in Sarawak to West Malaysia was mind-boggling enough during his time) What's the price of copper now?

Looks like S’pore is seriously into renewable energy (more so with sky-rocketing oil/gas prices)
Read this mind-boggling Bloomberg article (March 28)
https://www.thestar.com.my/aseanplus/aseanplus-news/2022/03/28/australia-to-singapore-solar-power-project-clears-another-hurdle
The proposed Sun Cable project to export solar power from Australia’s N. Territories to Singapore.
A$30 billion (US$22.6 billion) project
4,200-kilometre (2,600-mile) high-voltage (undersea) cable
To meet 15% of Singapore’s electricity demand
In contrast, YTLPower bought Kulai Young estate for RM428m
It is only about 60km from S’pore.
I ask how much power loss will occur if you transport electricity over 4,200 km.
Isn’t it more cost efficient to replicate a few Kulai Young 500MWh project (still plenty of land in Johore) which will supply all S’pore’s needs for renewable energy.

https://www.malaymail.com/news/malaysia/2022/03/16/dnb-extends-free-5g-network-access-to-telcos-until-30-june-encourages-big-f/2047799
DNB extends free 5G network access to telcos until 30 June, encourages big four telcos to sign up

Regarding 5G ....YES postpaid for 5G is RM49 a month. Free Unlimited 5G data until 31st March 2022 (?extend to June). Where places are not yet covered by 5G, YES give 100Gb 4G data.
Going forward for 5G, Maxis, DiGi and UMobile will have no more advantage over YES as the rollout depends entirely on DNB (with towers needed to be built every few hundred meters) unlike 4G where they had better coverage.
So, the fight in the 5G arena is who can sell faster and at a more competitive price.
So far only YES is in the market (TM has still not yet provided its Unify Mobile access). Maxis, DiGi and UMobile will be left hanging in the air if they dilly-dally some more.

Big volume buy at close. Is there something happening?

Woww! Thanks Tigertiger.
Most relevant info/explanation from the horse's mouth.
Time for analysts to do proper research work instead of copy and paste during every rushed reporting period

There are so many ways to value a company, Discounted Cash Flow, Times revenue, Earnings multiplier, Book value, Projected PE, etc. I neither have a CFA nor any accounting degree, so mine is rather simplistic. Please correct me if I am wrong.

MIDF Research said the 33.5 per cent stake was bought by YTL Power in December 2000 for AU$58.5 million (RM122.9 million) and as of end of financial year 2021 (FY21), entailed a carrying value of AU$258.2 million (RM769.3 million)
So you see, the stake was bought at RM122m. Valued in accounts at RM769m at end of FY21. Now sold for RM3b for a whopping RM2.2b extraordinary gain.
Selling at RM3b means a whopping 390% over its carrying value at end FY21 and 2439% over its initial investment.
Why had the market undervalued this YTLPower’s component assets? What about Wessex and all the other power plants?
To me the gain of RM2.21 billion (transaction to be completed before the end of the Q2 in CASH). RM2.11 b divided by 8.15b shares = 25s a share. So if current share price is 60s. You will actually be paying 35s a share for the rest of YTL Power’s business assets.
So going by sum-of-parts, what should the fair share price of YTL Power?
Why had EPF and all the other analysts been undervaluing YTLPower? So many questions, so little answers!

Indonesia is the world’s biggest coal exporter by tonnage, followed closely by Australia, with Russia a distant third, according to the International Energy Agency.
Indonesia requires coal producers to supply at least 25% of output to meet local needs and sets a ceiling price for coal sold to local power plants at $70 per ton, a policy known as the domestic market obligation rule.
In January, Indonesia temporary banned coal exports because PLN, the state-owned electric company which generates the majority of the country's power and relies heavily on fossil fuels, said its stock was running critically low
In order to control the retail price of electricity, the government forces coal miners and traders to supply domestic power plants at a fixed price. Currently that is capped at $70/ton. [Todays price is $365 per ton]
And this works, insofar as the goal is to keep electricity bills low even as energy markets the world over are being turned on their heads. It’s an arrangement that works for the government, and for Indonesian consumers.
https://www.bloombergquint.com/onweb/indonesia-s-coal-miners-are-bracing-for-new-export-curbs
https://thediplomat.com/2022/01/the-message-behind-indonesias-coal-export-ban/
Wow! Indonesias power generation is even more regulated than I thought.

Regarding Tg Jati in Indonesia, I think the Indon govt intends to develop their coal industry given their huge coal reserves (6th in the world after US, Russia, Australia, China and India) Probably a lot more yet to be discovered in Kalimantan
Recall when our Bakun hydro electric dam was first built in Sarawak, they were looking for where to sell the power to. Then PressMetal come into the picture and did long-term contracts to buy the electricity for its aluminum plant. See how well PMetal is doing today.
Regards solar, I think the 500 MW in Kulai Young estate 60km away from S?pore is just only the beginning of YTL Power going into renewables. Plenty of prospects there I would think.
Regarding YES, I too didn?t like them venturing into telco right at the beginning. When wireless was first launched in M?sia, there were about a dozen companies, all either died or got incorporated into the big three. Packet 1 also bled to death until recently taken over by TM. Vincent Tan probably regretted selling off DiGi even tho he made a tidy sum. He got back in the telco scene with U Mobile which is doing not bad. For YTL Comm Yes (pure 4G + 5G network), it has written off so much losses that hopefully I think the only direction should be up. If not the accumulated losses should be good for future profits, right?

"In the last quarter report ...."Multi utilities business (Merchant) The decrease in profit before taxation was mainly due to increase in fuel cost in current quarter" So definitely fuel cost does affect their profits" This one refers to YTL Power remarks

Maybe, Dragon 328 and Observatory might like to comment. Thank you in advance for your interesting comments so far.

Tenaga yesterday put some clarity for its regulated business to dispel the knee jerk reaction because oil and gas price shot through the roof .....
According to TNB, regulated businesses continued to make up over 70% of the group's earnings.
"Regulated entities? earnings are guaranteed based on approved electricity demand growth as stipulated by the IBR [incentive-based regulation framework] guidelines.
"Risks such as fuel price and forex volatility has been taken up through the Imbalance Cost Pass-Through (ICPT) mechanism which is being reviewed every six months.
"Our regulated business continues to provide stable returns supported by the IBR framework. We secured a fair WACC [weighted average cost of capital] and sufficient expenditure allowance for the next three years," it added.
Under Regulatory Period 3 which spans 2022 to 2024, the base tariff is 39.95 sen/kWh, while its WACC is 7.3%.
Now what is not clear is the "review every 6 months" How do they account for the interim super spikes in prices. eg USD130 now may drop back to USD70 when the Ukraine crisis is over.
In the last quarter report ...."Multi utilities business (Merchant) The decrease in profit before taxation was mainly due to increase in fuel cost in current quarter" So definitely fuel cost does affect their profits.

The present day headlines of skyrocketing fuel prices is certainly causing a lot of concern for investors especially when there is very little info explaining the mechanism how fuel prices (price of oil, gas, coal and renewables) affects Utility companies and how it will be passed on to consumers / or subsidized by the Govt.
Over to S?pore and Indonesia, how does skyrocketing fuel price affect Seraya & Tuaspring (S?pore) and Tg Jati (Indonesia) power plants. Where do they get their fuel from? How much hedging has been done?
Francis Yeoh was one shrewd guy. During the Asian crisis YTL went unscathed because he anticipated and took no USD loans. Hope he is clever enough to maneuver through this present Ukraine crisis which affect many sectors including the bread you eat!

I can?t find much latest info, but AmInvest?s analyst report (yesterday, 8th Mar, 2022) has this to say ??
As for rising fuel costs, we believe that the ICPT (Incentive Cost Pass Through) framework will be honoured. As such, the surge in coal and gas costs would be reflected in higher tariff surcharges to the commercial and industrial sectors in 2H2022.
TNB?s coal and gas supplies have not been affected by the war in Ukraine yet. Less than 10% of TNB?s coal supplies are from Ukraine. TNB sources its coal mainly from Indonesia and Australia.
We maintain our OVERWEIGHT stance on the power sector with a BUY on TNB with a fair value of RM12.00/share. We have HOLDs on Malakoff with a fair value of RM0.79/share and YTL Power with a fair value of RM0.67/share.
(Kenanga?s TP was 87s for YTLPower on Feb 25th) YTLPower?s price today is 57s and there is a big seller!

Price RM3.60
NTA RM6.29
Cash/Cash equivalent at end of period = RM634m = RM1.75 per share
Share Investment profit for 2021 = RM179m
.... "fair value gain recorded in 4Q 2021 for an unquoted foreign investment held"
Anyone have any idea what this unquoted foreign investment is?

In a high inflation climate with interest rates going up, there may be a switch to value stocks / and defensive stocks like Utilities, if war breaks out.
Nasdaq is presently down 11% from its peak in 2022. But maybe EPF’s analysts / fund managers still think that it is still better to invest in Facebook (Meta) and Tesla, hence YTL Power’s price has been stuck in a down trend ever since.

DATA CENTRE
YTLPower acquired a 12.5MW green hyperscale data centre inSingapore, in line with the aim to expand its data centre presence in SEA …. YTL Data Center Holdings Pte Ltd (YTL DC) has completed the acquisition of Dodid Pte Ltd … Dodid is a green and state-of-the-art facility that serves the largest hyperscale customers in Asia … YTL DC is also working closely with YTL PowerSeraya, Singapore’s second-largest power producer, and its retail arm Geneco on green energy solutions to enable the data centre to be run on renewable energy … YTL DC is working on a pipeline of projects to roll out 300MW of green data centre capacity regionally by 2030 …. sustainable data-driven ecosystems powered by renewable energy, which will help meet the region’s growing appetite for cloud-based solutions and services. “With YTL’s deep expertise in key telecommunications (YES) and electricity markets in Singapore, Malaysia and Indonesia, we are able to extract synergies from across the YTL Group’s core businesses to bring cost efficiencies and long-term value to customers,” said Yeoh.

Singapore plans to import up to four gigawatts (GW) of low-carbon electricity by 2035, or about 30% of its total supply to diversify supply and boost energy security according to Trade and Industry Minister Gan Kim Yong.
(Singapore consumed a total of 25.9 TWh of electricity
About 95% of Singapore’s electricity is generated from natural gas, though it plans to ramp up sources of renewable energy (to 30%??)

“two-year trial to import 100 megawatts (MW) of electricity from Peninsular Malaysia” … existing interconnector….expected to commence in early 2022,” said EMA … Utility YTL PowerSeraya said it has been appointed as the electricity importer for a two-year trial to import 100MW of electricity from Malaysia through existing interconnectors … PowerSeraya is licensed to generate 3,100MW and it sits on Jurong Island –Singapore’s oil, gas, and petrochemicals hub.

How big is 500 megawatts?
… as of March 2021 the government shortlisted 30 winning bidders with a combined capacity of 823MW … expected to enter into commercial operations in 2022 and 2023 … expect solar capacity to reach over 4GW by 2030, from an estimated 996MW as of end-2020
https://www.mida.gov.my/mida-news/solar-power-market-to-see-stronger-growth/
So many companies to share 823MW, but YTLPower gets 500MW in one go (because it is aim for export to Spore)

Why it is not distributing the cash is because it is investing to create future value ….
The company is developing a large scale solar farm with an electricity generation capacity of 500 megawatts in the Kulai Young Estate in the southern Malaysian state of Johor (bought from BousteadPlant). The facility is located about 60 kilometers north of Singapore (very close actually), a key market for YTL Power.

Price : 64s
NTA : RM1.59
Div Yield : 7.03
Market Cap : RM5.2b

This company may be one of the most undervalued companies on bursa. The exceptional gain of RM2.2b from just one investment, the sale of its stake in ElectraNet already is almost half its capitalization.
Even Forbes took notice of it.
https://www.forbes.com/sites/jonathanburgos/2022/02/09/malaysian-tycoon-francis-yeohs-ytl-power-sells-stake-in-australian-electric-utility-for-717-million/?sh=1aac0a3e4a33

With a total land bank of 13,000 hectares (ha), Subur Tiasa Holdings oil palm plantations are a major part of our strategic business development plans. A breakdown of the current development of our oil palm plantations located in East Malaysia’s Mukah and Kapit is as follows:
1,300ha of Mature Area, 3,100ha of Immature Area, 250ha of Young Palm Area.
Our oil palm estates are located in Sibu, Mukah, Samarahan and Kapit regions with a total land bank of over 44,000 hectares. The weighted average palm age is 8.4 years old. Our oil palm segment is expected to boost its share of contribution to the Group in line with the expansion of matured planted areas and the growth of matured crops from young mature to prime age
As the oil palm continues to mature, its yield increases and reaches peak production in years seven to 18 before gradually decreasing thereafter. The typical commercial lifespan of an oil palm is approximately 25 years.

On another note, is it a good deal? MCement Bhd plan to buy 12 subsidiaries owned from YTL for RM5.16bil. These subsidiaries include three integrated cement plants held under Pahang Cement, Perak-Hanjoong and Straits Cement plus the ready-mixed concrete business, etc

The deal will transform MCement into a major cement player with an estimated 60%-65% market share in Peninsular Malaysia. Operation-wise, there would be efficiencies to reap from economies of scale. From a corporate governance perspective, the deal reduces concerns on recurrent related-party transactions. One big positive from the exercise is that the injection of YTL Cement’s assets, will fast track MCement’s path to profitability. While the latter has been loss-making over the past three years, YTL Cement has strong operational and financial profile. For the 9months ended 31st Mar, the YTL Cement’s segment had a revenue of RM3.2b and a whopping profit of RM435m. In contrast, MCement last Q revenue was RM374m and a pretax profit of RM4m.

Still believe that the price will slowly move towards RM3.75, otherwise minority shareholders will vote no to the deal. We patiently wait and see.

Can anyone explain why 85m shares was placed out at such a low ridiculous price of RM2.79?
Why not place out at price closer to RM3.75? Whoever who bought at RM2.79 is laughing all the way to the bank. The 85m new shares listed today closed at RM3.00, the placement already made 21s.
After all in the MCement announced deal to take over YTL Cement's cement and ready-mixed concrete biz for RM5.16b, the new MCement shares and preference shares are to be issued at RM3.75.
RM3.75 per share incidentally is also the price YTL Cement paid for the acquisition of its 76.98% equity interest in Lafarge MCement way back in 2019.

Current price = RM3.16
IPO price was RM6.50
Net Cash per share is RM2.03
EPS (Last 4Q trending upwards) = 3.9s + 3.4s +6.6s + 19.3s = 29.4s
PE = 316/29 = 10.8
NTA = RM5.48
Is this stock still undervalued?

"According to market talk, the group is subject to a privatisation exercise, via a selective capital reduction of about RM1.80 to RM2 per share.

MMC shares were last traded up 10 sen or 8.33% at RM1.30, valuing it at RM3.96 billion." TheEdge

Incidentally Gamuda is also up. Anyone got any idea what is happening?

Anyone knows why MMC suspended? 10s up

Cash 122m STB 355m LTB 257m
Net debt = 355-257-122 = 490m
Gearing = Net Debt / Equity = 490/693 = 0.7
Gearing is on the high side but not too bad!
In present low interest environment, it is sometimes good to borrow money cheap, as long as you can generate lots of income from it.
Revenue this quarter is highest ever, ascending EPS last 4Qs from 4.9s to 8.6s to 10.2s to 15.2s = 39s
PE ratio is 341/39 = 8.7
One thing not highlighted by many, is its Healthcare business. The two biggest pharmaceutical distributors in M’sia are Zuellig and Diethelm, both with cold supply chains
Zuellig is S’pore owned. Diethelm M’sia belongs to DKSH (M’sia)
For DKSH read https://www.dksh.com/global-en/home/healthcare/covid19-vaccine-distribution
Not sure govt will choose Zuellig or Diethelm or even both in the vaccination rollout for GPs
Even if the vaccine is free, the govt still have to engage distributors (logistics reasons). Can’t expect the GPs to collect themselves. These companies are able to reach the most remote towns in M’sia.

https://ceomorningbrief.theedgemalaysia.com/article/2021/0191/Home/8/569687

Ex-CEO Azhar returns to MRT Corp as chairman

It is a party related transaction. If the price does not go to RM3.75, minority shareholders will know how to vote at the EGM

I bought this stock some months back, but regrettably didn't buy more!
Present price I feel is still a bargain because IPO price was RM6.50
And net cash per share is a whopping RM2.03.
Its RM1/2b PBT turn out beyond my imagination.

For "purposes of illustrating" the effects of the Proposed Placement in this Announcement, an illustrative issue price of RM2.67 per Placement Share ..........
The issue price of the Placement Shares shall be fixed at a date to be determined and announced
later by the Company after the receipt by the Company of all the relevant approvals for the
Proposed Placement (“Price-Fixing Date”).
The issue price of the Placement Shares shall be fixed based on the volume weighted average
market price of MCB Shares for the five (5) market days (“5-day VWAP”) immediately prior to
the Price-Fixing Date, with a discount of not more than 10%.

Hope starting today, we see some action ......

Current price 68s
My sympathy to those who bought at RM1.10 (IPO price) and got stuck there!
Cannot disagree that your bad comments above are indeed justified or warranted.
But at current price, there may be VALUE in LHI.
Chicken price has since improved from the lows of Mar 2020 caused by the pandemic. Many smaller independent chicken farms have since closed down, exacerbated by relatively high feedstock prices.
Demand from hotels, restaurants and cafes has been dismal but there should be light at the end of a long tunnel, on this supply and demand equation.
Luckily LHI has its own feed-mills, their latest Philippines feed-mill should be in production by now. They also have their own feed-mills in Vietnam and Indonesia.
Their Baker’s Cottage looks like quite successful judging by the number of people going to buy their RM11.90 chicken [No need to cook – dinner’s ready!]
[KFC & McD do not have their own chicken farm so their input price is higher!]
Lastly US giant food processor Tyson Food last month bought MFlour’s 49% poultry business [Dindings] for a whopping RM420m [MFlour cap is RM921m]
If 49% Dindings is worth RM420m how much is sum-of-parts LHI companies in Indonesia, Malaysia, Vietnam, Philippines and S’pore worth? You work it out ....

Isn't this counter under-valued?
Present price RM2.63.
At its height some years ago, it was RM11
YTL Cement took over the company in 2019 at RM3.75 for a whopping RM1.6b. Hence YTLC+MC now controls the cement industry in W Malaysia.
It is all about supply and demand and Lafarge gave up and throw out the bath tub including baby and all.
MCement and another cement company CIMA has each shut down one clinker plant each, effectively removing annual clinker capacity totaling 2m tonnes equivalent to 8% of industry clinker capacity from the market.
The average net cement selling price of cement has started or should start to rise.
MCement has been in the red for 16 quarters. But look at the last 2 quarters which the losses were minimal. I believe MCement should turn around and so will its price

?Stale bull liquidation

Lebuhraya EKVE Penerangan Penuh ( East Klang Valley Expressway ) Oct 2020
https://www.youtube.com/watch?v=i0tNJsAMIOw