if the company is lack of cash, it won't do so heavy share buy back. Currently, it already had 13.4m treasury shares, which valued at today's DEPRESSING share price as RM32m. Not to mention many of its share buyback price were higher than today's price.

haha! best, matakuda.

Unless, the stock's dividend payout is super steady, like a super reit (such as those with great assets and the yield is very high), that the dividend can more than enough cover up the interest rate, and for a very long term. I know people who get rich in 2008 financial crisis who bought a lot of reits on bank loan. But the situation that time was that the stocks were hit hard and reit's yield was higher than 10%!

i think no one should get loan to buy stock, no matter you are rich or poor. Unless you are genius such as WB. Koon really shouldn't promote this method to the public, what was he thinking.

i added more today. :P

fear....:P

I see a lot of loss souls here, suffering from bad share price.
Whenever I got confused, I clear up my mind and read some WB's quotes. That really helps.
If you see no future on Mudajaya, I don't see a reason to keep the stock. Sell it to cut loss and move the money on something else.
If you have doubts about its future, not so sure, blur blur, I'd suggest to hold it until you see a clearer picture.
If you think the company has good future, just not sure about near future, I still think that's a hold.
The most common mistake retailers repeating all the time is to buy at high and sell at low. That is exactly why only 5-10% traders making money while the rest are losing money in long term.

thank you valueinvestor for sharing the article. it's a great one.

I wish it drops more....

I think one of the major thing happening is that Mudajaya's management does not keen to do publication. This pretty much means two possibilities that I could think of: 1, they are not shareholder-friendly. 2. some gang (inclusive of the company itself as with buy back) are still accumulating.

For me, a company that moves from project base nature (aka construction) into energy assets owner (aka shares in power plants) is a big catalyst for much higher valuation simply because of energy=future and the nature of recurring income. Even if its EPS drops, if valuation was upgraded to a category of energy stocks (PE 12-15x? vs construction stock's 7-10x), stock price can go 50% upside easily. Anyway, until the market "approves" this, shareholders can only wait for the best to come. And if the transformation of the company failed to do so (which is how it was priced in currently for the India power plant headache), the sweet dream may never come.

Lets hope for the best, if you are one of the shareholders.

thank you spy008 for spending the effort to tell us the results.
well, I just thought its share price may have bottomed. How low can it go, I really not sure. I just know that it has been buyback its shares for quite some times largely at 2.50-2.60.
how low could IBs (ie. cimb, rhb which both put mudajaya as their top picks before and now no more) put their TP for the upcoming likely bad quarter report, I've no idea. Cimb and Rhb are capable of cutting 50% in one shot for a number of companies before.
well, my strategy of current holdings? no change. Sell on rally, hold on drop. Just take the dividend to buy time if it drops. But I won't buy more if it drops though, unless India power plants work out fine.

When India power plant starts rolling, expect IBs TP raise to 3.50-4.50. Well, don't shoot me, I didn't say I've any idea when will that actually happens. India's policy is just too unpredictable. So buying this stock is a high risk holding. However, while receiving equivalent to FD yield, my current holding volume is still comfortable for me to continue waiting. My first batch was bought in 2011, so you can imagine I'm still at rather large paper loss even though I had increased shares recently buying at 1.48-1.57. And guys, please don't blame it on Mr. Koon, he is a victim himself too.

it worth how much depending on if it is a value trap or a hidden dragon. I only know it's asset rich. :P

please share the new poison letter here. No need to keep so secret, it's a PUBLIC listed company. :P

Another "poison letter"? This happened in 2010 that send its share price to hell, then ends up nothing happened afterwards. Why so secret? Why cannot share it out? I wish you even post it to Koon's blog or to him. Haha!

interesting time ahead....i like that they started taking loan....new business needs start up cost....kekeke....

WB's "don't loss money" rule is to advice us don't have the mindset to play short term at all. Don't think like....oh, I'll just play 10k small small to gamble on this stock. If loss all, just 10k, nevermind. I had that 490k on proper investment. This mindset, after you loss that 10k, you may start taking out another 10k because you feel angry for that loss. This is the typical gamble mindset. Loss will enlarge.

i'm saying, if you had say 500k to invest, do you dare to put 100k on a stock that you plan to play short term? For most people, they will only put large capital on stocks they play long term, and tiny capital on stocks they play short term (gamble).

my TP is 3.00 by 2016. :)

haha! those who buy sell buy sell i bet their volume not big because they are worry so they won't take high risk to play short term. My thought is simply this: spend 10k buy sell buy sell earn 10% 5 times equal to profit 1k, For long term investor with confidence, buy 100k, up 10% equal to profit 10k (10 times more). Beside, when the stock shoot up 10% in one day, those buy sell buy sell one may miss the train.

I agree that the yield at current price is not attractive, it's not far from FD. So I'm not suggesting to buy more. I just discuss the real situation. I am keeping my current shares and not intent to increase more. I'll look for other more tempting stocks to put money in.

A company cannot simply "brought back money to Japan", how to do that? Unless they make fake accounting such as china companies. But no, they announced profit growth instead. The only way to bring more money back to Japan HQ is by giving even more dividend since the Japan HQ has big stake. But guys, Panasonic Malaysia is a tiny little ant as compare to Panasonic HQ, so even if it gives all cash holding as dividend, it won't mean much for the giant HQ. Now lets talk about current rather low dividend payment. If you look at last financial year booming dividend payment, you can see the big picture clearly. To average the two financial years' dividend, they are actually an improvement over past years. Management utilize the tax exempt deadline thing to safe tax and pay dividend "sort of in advance" in last financial year. This is a demonstration of a good management who is hardworking to maximize benefits for shareholders and the company.

If it is Amway which attach to premium market, that's a different story.

And I think cheap cheap online shops are big threat to it.

Not looking good. Both local sales and Thailand sales are dropping.

as expected, bad result. We need to see next Qtr report for speculation of earnings recovery in Thailand.

See, Koon is with us. Thank him.

http://koonyewyin.com/2014/07/09/open-letter-to-mudajaya-board-of-directors-how-to-improve-share-price/

so you guys think it can continue to give similar amount of consistent dividend ahead? If so, then a good 5 to 6% yield at current price. But if it lower it because of business shrinking, then hard to hold at current price.

Thailand political situation just recently getting better. So I don't think the upcoming results can be any good. But the Q3 result could be good if the politic stabilize from here onwards.

http://www.theedgemalaysia.com/business-news/298014-csl-auditors-issue-disclaimer-of-opinion.html

wahihi126, i agree with you totally. i play at both sides. I just disagree on those who brought up its cash pile for valuating the company. As for punters, it's totally playable. :D

1.6b cash in bank? for what? business is shrinking, profit is shrinking, dividend is not 10% yield, what that 1.6b benefit shareholders? Use to rebuild burnt down factories? All these China companies said they got huge cash, and now watching them one after another going into net loss. Cash? Even if that's true cash, slowly all use to cover expenses and shrinking business. Shareholders just watching their cash shrinking day after day, what else can shareholders do?

RM5 by 2016. :D

choose the low margin jobs, once unexpected failure happens, the risk is higher. Hold the (cash) power and wait for good margin jobs opportunity to come and then invest fiercely, look for long term return such as its recent years investment target on power plants. I'm looking good on it. A construction company is usually valued at PE below 10x, where a power/energy company valued at PE 12x or above, there is a reason for this valuation. Mudajaya has been giving steady dividend since I started buying it many years ago, so I don't mind to hold it until the day majority of its income comes from power plants' recurring income stream.

Mr. K is a really nice person as he spend time to response fast to doubtful tiny investors. If he is more cunning, he should wait longer and let the price drops further and picks up more shares there.

0.7% only oh. Small investor only. Thanks for your info.
but you keep promo mulpha in mudajaya thread hor. :P

How much stake Koon has? Below 5%? Otherwise he is required to publicly announce his trading.

Tan KW, Koon sold his Mudajaya? Really?

yap. it's a breakout today. should go higher. kekeke....

what is its RNAV today? Last year was 3.60, RHB said.

Energy is the future. SKPetro is possibly the best proxy to ride on energy business in Bursa. Warran Buffett bought big stake of Exxon Mobil, the world largest energy company at about 11x-12x PE. As various IBs had given SKPetro's EPS forecast quite differently (the highest being cimb), it's now trading at about 12x-16x PE. Not cheap, yes, but all believe it has much higher eps growth potential than the big elephant Exxon Mobil for sure.

So buy or not buy, really a personal question. I'm holding mine for long term as long as they continue to show earnings that's intact. Well for short term players, not much could be done except speculation and play guessing game of World Cup effect and do TA by reading graph. :)

ya, i've no intention to attack people. I was just making a bad joke there and hurt his feelings. I said sorry to him. :)

World cup....now not even sure the opening stadium can be used or not yet! What a big joke! haha!

If my thoughts and sharing are not appreciated here, it's fine with me. I'll just shut up and leave this forum. :)

wah, i was being hit hard! wow!
guys, in Bursa, only about 18% are retailers, where FF about 30% and local institutions over 50%. So, if your brain works ok, do you think they care about what retailers move are?
Of course brokers chit chat about forumers thoughts bla bla bla, just like we chit chat about gomen and PKR bla bla bla. But how many of us actually take politics seriously? Same goes to broker and fund managers. How many of them take chit chat topics seriously when they place their decisions on funds?
Since RyanBoleh and broker88 said they are 100% sure some brokers do have those software to get forumers' info, I just say sorry if it's true. Not a problem to say sorry. Just that the point is, do they really care? A company will have many systems and tools to help their business, but they don't focus on all tools. Just like we all. We have tons of reports, news, tips....coming from all around the world, and you need to see which are useful and then spend time on them, where ignoring the rest.
If I am a fund manager, I won't care that much of how that 18% retailers move the market. I'll spend my time focusing on researching the fundamental of broad economy and short listed stocks. By doing so, I already need more than 24 hours a day. So, reading forum is just for fun, like a share of feelings, share of joy and sadness etc. Not for serious study. Of course, there are some good quality forums that had many knowledgeable people willing to share their knowledge and expertise, that's very good.
So here, I'm just sharing my thoughts.

RyanBoleh, you are quite naive. haha! Big funds do not need any info from retailers forum to make strategy. On the other hand, we are the one who need to play guessing game on how big fund manipulate the market.

Anyone knows China companies listed in Singapore now trading at what PE? Do China shoes companies listed in HK still trading at PE 8-9x today? Is there China shoes companies listed in Singapore? Thank you!