Uptrend still intact despite turbulence. EMA 50 last defence

Rosetta is still in HTPadu. But Farhash no longer major shareholder due to shareholding change at Rosetta holding company.

In my opinion, the key person for HTPadu in NIISe’s tender is TS Wong (Myeg). Thats the main technical partner. And that doesnt change.

Even MYEG director, Datuk Jimmy’s appointment in HTPadu is still intact.

With Farhash out of the picture, the ‘political’ noise surrounding HTPadu should gradually subside

Ignore the noise.

Keep calm and slowly reload

MYEG and Rosetta Partners collectively hold more than 30%. Acquired from open market.

Less weak holders. The stock should be more stable going forward

Nice bounce. Time to slowly regain lost ground!

Tested 50 EMA. Load more

Load slowly

Price divergence. Maybe correction first

Continue charging higher. Judging by the surging price action, the news on new sugar mechanism could be just around the corner

https://www.nst.com.my/amp/news/nation/2024/02/1017990/sugar-subsidy-regressive-says-wee-ka-siong

If indeed Gov decided to continue incentivise MSM at RM 1 per kg, eps at 10 sen per quarter is to be expected.

Annualized, that will be 40 sen per year.

At PE of 10, it will be a RM 4.00 counter. Multibagger in the making!!

If gov still want to set at illogical price at 2.85, can. Let gomen give subsidy. Dont force Felda to subsidise that illogical low price.

Indonesia price RM 5.40++ Malaysia price 2.85? Where is the logic

Even Thailand, a sugar producing nation set at 3.50++

No logic at all price in Malaysia. Not sustainable!!

Great result!!

The 2 month incentive totalling 48 million. This is equivalent to RM 1 incentive to each kg produced for domestic retail sugar sold at RM2.85/kg.

Effectively, with gov incentive MSM ‘sold’ sugar at 2.85 + 1 = RM3.85 per kg in Nov and Dec for 24,000 tonnes as per their commitment volume.

Which means, if it is not because of unsustainable illogical low sugar price set by government, MSM can make significant profit.

If government approve the price hike at 3.85 as requested by MSM, we can expect MSM to record roughly about 70 million per quarter @ EPS of 10 sen per share. At RM 3.85 it is still one of the cheapest price in the region, maybe after Thailand which is a sugar producing nation. Doesnt make sense at all that the price is cheaper than Thailand like it is today.

Indeed. Expected Q4 result announcement tomorrow

Volume building up with breakout. Looking good!!

Q4 2023 expected next week. Good result?

Technically looks nice. Another price surge around the corner?

@5354_ There will be no buyer who wants to buy MSM if the selling price controlled by government is way below the cost of production. Nobody wants to invest in a “sure loss” business.

For example, government has granted more APs to companies to import sugar. Target volume was 550,000 tonnes. HOWEVER, only 4% (22,000 tonnes) was brought in. NOBODY is willing to bring in sugar from international market at higher price and sell in Malaysia at a loss!! And NOBODY wants to buy MSM without any revision on local sugar pricing.

https://www.malaymail.com/amp/news/malaysia/2023/11/12/malaysias-sugar-supply-disruption-due-to-spike-in-prices-in-international-market-says-armizan/101717

5354_
If base on Johari Abdul Ghani yesterday comments I don't think sugar price can be floated in Malaysia. So best is Felda must find buyer for MSM.

Choices are limited. Options are:

1) float price
2) give subsidy/incentive
3) hybrid mechanism ( mix of option 1 and 2)
4) force MSM and CSR to bear the losses to maintain current price.

In terms of risk, option 4 is the riskiest as it most likely will lead to sugar shortage and therefore food security issue in Malaysia if both MSM and CSR go bust. They have been bleeding since the sugar price spike in 2022&2023.

Hence, the only feasible option left is either 1, 2 and 3. Whichever way you cut it, it will benefit MSM greatly as the new sale price will have to cover its cost. It can stop bleeding and record loss and with the Johor plant refinery reliability fully restored now, more can be done to cater for export market.

Personally, I think MSM is a cornered stock. And if food security is a priority for the government, then naturally the only way its share price can go moving forward is UP!!!

Based on previous media report, Wilmar and Syed M was interested. Anyway, that remains as speculation for now.

Personally, I feel if the sugar price is floated MSM will be a profitable company. Alternatively, gov come in and subsidise like what they are doing currently at RM 24 mil per month.

When Gula Perai was under the previous billionaire owner, it received subsidy to the tune of RM 500++million every year!!

https://www.astroawani.com/berita-bisnes/felda-sepatutnya-utamakan-pengeluaran-minyak-sawit-bukan-buat-gula-miliki-hotel-johari-ghani-457094?amp=1

Interesting point is as per below:

“Felda tidak sepatutnya melihat di luar industri sawit. Kita perlu fokus, dan tidak boleh terlibat dalam terlalu banyak perkara seperti pembuatan gula, memiliki hotel”

@KylieTan

Thanks. Anyway, I could be wrong in my technical assessment. Good luck everyone!!

Booked profit first today. Been riding since 1.46.

Will revisit MSM in Feb. Good luck all!!!

Since start of the year 2024, MSM has made a remarkable gain of 50%.

Up from 1.61 to 2.41, a gain of 80 sen. Do you think MSM will continue with its bull run streak?

Or a mild correction is around the corner before the next bull run?

Good break above 2 with high volume!!

Good sign that something positive may come MSM’s way soon

Either gov have to subsidise using tax payer money in order to maintain low sugar price, or float it and let market forces to determine the price.

Letting the whole population enjoy low price at the expense of Felda settlers just doesnt make sense.

📸 Look at this post on Facebook https://www.facebook.com/share/p/J8yhKNUZRFtfeKHa/?mibextid=WaXdOe

Reality check??

https://www.freemalaysiatoday.com/category/nation/2024/01/17/domestic-water-tariffs-in-penang-to-double/

@Luisa7

2x 3x 4x etc

Potential multi-bagger in the making. Good luck all!!

Looking at monthly chart, it paint a very nice story. Very high potential

https://youtu.be/zdwIIICqOLY?si=rhI8CwrLqj3fWBGH

Felda Chairman has already mentioned that to maintain current low price, it is not the govt that is subsidising.

It is actually poor Felda settlers is subsidising the nation. Doesn’t sound right and something has to be done.

Hence the govt started to incentivise refiners with RM 1 per kg in Nov and Dec for a max of 24,000,000 kg per month (24,000 tonne per month). At least the govt have kicked the ball rolling and some NEW mechanism (i.e subsidy or price float or both) is bound to be announced very soon.

Govt have to either:

1) continue giving subsidy to sugar refiners so that they can maintain current retail price
2) float the sugar price from current unsustainable low price

Failing to do so will:
1) slowly kill local sugar refiner, which in turn put national food security at risk
2) unfairly allow the population to enjoy low sugar price at the expense of poor Felda settlers by virtue of them being the major shareholder of MSM via FGV and Koperasi Felda (combine shareholding of more than 65%)

Early Jan 2023 price 30 sen
Early Mar 2023 price 38 sen
Early May 2023 price 55 sen
Early July 2023 price 70 sen

NIISe terminated. Should be good for MYEG?

Gap closed. Train loaded. Ready to depart

Gap closed

KUALA LUMPUR: MyEG Services Bhd has received the finance ministry’s approval to serve as the collection agent for government revenue.

Additionally, the company’s role as the provider of online services for the immigration department has also been extended.

==========================

Wah….. government collection agent got…immigration department extension also got.

Immigration contract extended!! Looks like at least until NIISe complete end Aug 2026 (if no delay)

Finally announced!!

Myeg Immigration portal back online. So got contract extension or not?

Washout… before push up

Better take this counter private la

EPF should consider becoming major shareholder back in MYEG ….. dividend paying counter, good management, exciting growth

Panic throw the in Feb because of what?

Noted @GoldenBull66. Means earnings visibility from this segment remain intact until 2026.

Coupled with growth in Philippines and new frontier in Blockchain!!

NIISe not ready yet, not until Aug 2026.

Means MYEG Foreign worker permit renewal should continue until that date maybe

PLKS contract with immigration expiring next week.

NIISe progress is slow.

Naturally, only one option available to avoid interruption.

https://www.freemalaysiatoday.com/category/nation/2023/05/12/myeg-gets-contract-extension-for-immigration-services/

Wahh

Ada apa cerita Destini ni?