Lamb man today. Tomorrow up maybe?

Very lackluster. If quarter is good (core net profit > RM100mil with zero impairments), then we should see this baby hitting RM0.40 by month's end! Quarter result out on 27th Nov (noon). Pray for the best fellas!

This quarter result will out on 27 Nov 2020. Will be a gooooood quarters!!

Poor results. No new orders. Order book depleting.

Tough times ahead, but this will be a stock to watch out for once the offshore contracts returns

Seems like easy multibagger, even in a depressed oil environment

Buy 350k at 22.5

Warrants are mispriced

Also good thing for Armada is that FPSO contract awards have now been called off / delayed. Armada financials is quite bad now, lots of debt. But cash flow is good, so within next 6 to 12 months the financial footing will be stronger. By middle of next year, it will be able to bid for new FPSO contracts.

Don't forget that Armada Claire and Armada Perdana was also involved in impairment. Over USD350mil for both vessels, which comes up to around RM1.5bil.

The value of ALL their vessels (FPSO and OMS) is around RM4.8bil on the books.

Armada Claire still has receivables of USD20mil on the books, so look out for further impairment on that as well.

Maybank maintain Armada TP of rm0.15. Stupid analyst

https://t.maybank-ib.com/redir.html?q=IuvQlFiFSI94vGIw_VqeS9nf0UdtjzD8h-ZvyNPwEqA&r=https%3A%2F%2Ffactsetpdf.maybank-ke.com%2FPDF%2F191817_CN__66d9c496598c402f84edb419cd47de6b.pdf

Bekok Oil EPCIC Contract from PETRONAS Carigali Sdn Bhd

Malaysia Marine and Heavy Engineering Holdings Berhad (MHB or Group) is pleased to announce that its wholly owned subsidiary, Malaysia Marine and Heavy Engineering Sdn Bhd (MMHE) has secured a contract from PETRONAS Carigali Sdn Bhd (PCSB) to undertake the Provision of Engineering, Procurement, Construction, Installation and Commissioning (EPCIC) for the Bekok Oil Project.

The works include the supply and installation of new BEDP-A and BEDP-B Wellhead Platforms which consist of topsides, substructures and bridges linking each of the topside to the existing Bekok-A and Bekok-B platforms respectively. The targeted project duration for the fabrication works to be completed is 9 months from the award until Ready-for-Rig stage. Upon completion of fabrication works, the platforms will be installed at PM9 Field, located in southeastern of Malay Basin, Peninsular Malaysia, approximately 260 kilometres from Terengganu Crude Oil Terminal.

EPCC Contract for Bergading MRU module from HESS

MMHE has also recently secured a contract for Bergading Central Processing PlatformMercury Removal Unit (CPP-MRU) Integration Project from Hess Exploration and Production Malaysia B.V. It covers engineering, procurement, construction and commissioning (EPCC) works for Bergading MRU module. Upon completion the module will be installed and integrated to the existing Bergading CPP, North Malay Basin.

Wan Mashitah Wan Abdullah Sani, Managing Director and Chief Executive Officer of MHB, commented, “These new contracts signify continued trust of our clients in our capability in providing innovative solutions with the highest standard of safety, quality, time and cost. Our focus remains to ensure efficiency and effectiveness in the execution of project deliverables as per targets set”.

https://factsetpdf.maybank-ke.com/PDF/157078_CN__6d965ff79610465798de8d644c577cf1.pdf

HEU tenders of RM13.4bil is an ALL TIME HIGH, and this is AFTER already getting the Kasawari tender. Things looking up, up, up :)

Sold all.

I'm still holding.

Yeah fingers crossed! FX have been favourable but the trade side has been weak. I'm thinking between RM15-20mil for the revenue. Anything less is very poor, and if it's more...then it's good!

As for net profits, I'm thinking between RM0.5mil to RM1.0mil, but with a strong chance to surprise on the upside due to the aforementioned FX tailwind.

Results should be out either today or tmrw.

Another 120 lots today. All in 1,240 lots now. It's good things are taking a bit longer to turn around...can buy at depressed prices for a longer time!

Anyone go to the AGM? Any news to share?

I would expect nothing less than RM200mil.

"The agreement is valid for a period of 5 years with option to extend by PETRONAS. The contract covers integrated plant turnaround works and daily maintenance work on mechanical static for PETRONAS’ plants group wide."

Also, it seems to be this is for all Petronas plants group wide, as quoted above. So if that is really the case, may be even higher than RM200mil/year.

Don't forget though this is a JV. So MMHE (assuming has a 50% share) will get roughly half the revenue/profits.

My estimate on the low-end is RM200mil/yr, on the higher end perhaps even up to RM400mil/yr. Let's see what it actually is tomorrow in the research reports as hard to find info about this online.

Tomorrow is the annual general meeting as well, so let's see if there's any new news that comes out of there.

@kyy, profit margins are super high cause the cost of purchase for the lands (some time ago) was very cheap. Also, this is a "no frills" developer. No fancy stuff, but dependable.

Plant maintenance contract! Now to know how much revenue this could possibly bring in...

http://mhb.com.my/wp-content/uploads/2019/04/MHB-PRESS-RELEASE-Project-Award.pdf?fbclid=IwAR0e141ari3ushQa7jTyxAJaec3JxjPr1f3t9Whud54OqngmvCC9xcuaeSc

Another 383 lots @ RM0.80 today. Now holding 1,120 lots.

Very concentrated and risky, but I'm fairly confident that there's ample margin of safety and the returns should be phenomenal!

Yeah no regrets I made over 150% net gain in just one month.

But I will continue monitoring PCCS in the event it gets cheaper but the profitability improves going forward.

I believe this is one of the best companies in Bursa this year. Congrats to all those who have made triple digit returns, be it for the Warrant or Mother share.

Walao...I sold my WA at 0.15 last Friday. Bought at 0.06 in late Feb. And now it is 0.22? FML!

No but seriously, while I made peace with my decision to sell...I can't help but imagine the what ifs!

Now I'm curious to know if I made a genuine mistake in selling too early and that PCCS profits will continue rising strongly.

Fyi, sold all last Friday at RM0.15.

I'd bought 204,500 PCCS-WA on the morning after the results were out. Weighted average cost of RM0.0585 as I bought at both RM0.055 and RM0.06.

Sold earlier all 204,500 PCCS-WA at RM0.15 as I believe this may have run ahead of the fundamentals and that was a good exit price. More than 160% net returns in one month.

I still believe PCCS is good for the long term. Should it cool down once more below RM0.10 levels, I will buy again. Good luck to all present and future PCCS shareholders!

Koon used margin and Koon will pay the price. As will everyone else. I still don't understand what appeal this uncle has lah. He's got some investing chops, no doubt, but you know how much of industry connections he's got? He buys big positions, then tells the market. It's a positive feedback loop. He's no Warren Buffet, is all I can tell.

So crazy, why the push at close? Hate it when this happens, cause tomorrow it will definitely open lower at 0.82 levels. It's not even the end of month / quarter / year, so window dressing is not the answer. Almost 1 million shares changed hands in the last 30 mins. I wonder if someone just decided to push a buy order without any care for the price, or if there's some news about to come out. Doubt there'd be any news...but lets see.

Campap's 2019 catalogue is out. They've added a new series under the Campap brand ("A90"), and renamed the Forest series to ecoForest. Some refreshes and new products to the Arto brand.

Let's hope sales for 2019 are better than 2018!

http://site.campap.com/main/3149/index.asp?pageid=138142&t=products

Stop talking about P/E you nutters, strip out the asset disposal gain at least for a fair reflection.

Still, it feels so good. To buy at the morning after the results were out, and then to see that the market agrees with you.

Asset disposal gain was in Q1. Q2 and Q3 where got disposal gain?

Plus Magni is a "matured" company, PCCS less so. Add to the fact PCCS is aggressively expanding on the labelling side (with higher margins there). And labelling can complement its apparel business well.

Magni has very high net margins. PCCS has had very poor margins. By following through on cost-cutting measures, PCCS can increase it net margins and this will show a marked improvement in the net profits.

Where do you get the FX differences from? I understand the asset disposal part, as ~RM4mil net comes from the sale of their property.

Exciting times. I'm really looking forward to the upcoming quarters. Volumes have surged since the last Q report. But at the end of the day, it will come down to earnings growth. If can sustain at average of RM4mil net profit per Q.....that would be a good start.

Bought 2,045 lots at avg price of RM0.0585 on Thursday morning. Let's see where this goes!

Wonder what's up....Bumi Armada up to no good.

I'm fairly impressed with their Mega Label subsidiary. Very cool website, and they have loads of high profile customers, not to mention they have acquired RM7mil worth of equipment to further expand this segment. Net margins at 7.3%, which is higher than the apparel business.

Anyone have any analysis to share, having looked at the Q report? Is it sustainable to you...the margin expansion?

Oh, and the margins have improved, and this has been sustained for 2 quarters now. Margins was always the weak point for PCCS. High revenue, extremely low or even negative margins. Margin expansion will lead to increased profits, and increased profits are what drive share price growth at the end of the day.

When facts change, I change my mind. I had to revise my initial assumptions. I was perhaps a tad hyperbolic there, but PCCS was on my radar and with this Q results I am convinced it is undervalued, if nothing else for the short/medium term. The business is generating good amounts of cash, and the rights issue is starting to pay off. Anyway from a risk-reward standpoint, more cards have shown up and this looks like a solid buy (for now at least). I didn't manage to find any discrepancies in the Q report, and costs are improving. I could be wrong, I may be right. So there's that.

Bought some warrants at 0.055 and 0.060. Good fundamentals, cheap valuations, the managers have increased skin in the game (via the 2017 rights issue), and the warrant's risk-reward ratio seemed to be extremely compelling.

What is your average cost? Mine is at RM0.5039.

Very, very disappointing. In two minds to cut/exit my position or to continue holding.

Any day now...!!!

@IsvestorKing, talk kok only. Most fund managers (unit trust + insurance) are usually disallowed from buying super distressed stocks (negative profitability + short term debt > short term assets).

Anyone familiar with their legal suit with MMHE? Who is likely to win? EA claims for USD21mil, MHB claims for USD49mil. Who will prevail?

5 days of continued solid gains. Interesting...

I'm positively excited! Let's hope for something good. Stronger Ringgit Y-o-Y, large inventory to clear in the peak season, bulk of inventory as at end September was made during the June quarter when the Ringgit was weaker (i.e. lower costing). I'm looking at both a jump in revenue and a jump in margins.

I've been buying patiently since subscribing to the rights issue in October 2017. Got a good feeling about this.

Having said that, profits may disappoint and I will act accordingly based on my sell/hold/buy thresholds.

Maybank's research report is the only one that highlighted MMHE actually posted a core net profit in Q4 2018. You can see there was a net RM24mil in impairment on receivables, and RM4mil writedown in PPE in Q4 2018.

So maybe it wasn't as bad as it seems, plus if they can recover the receivables (which I believe relate to the EA Technique FSO) then there can be some nice little write back this year.

Well, interesting. Gap down at mid-day open, but managed to recover and close higher by the end of the day. I think the bigger fund managers understand that the worst is over. However, now the stock really could go anywhere - collect more if it drops < 60 sen, but at the same time funds may buy heavily at this rather cheap valuation in anticipation of strong profitability over the next 12 - 24 months.