Luckily got nothing to do with MBMR

Hafid UMW revises Q2 results
Last update: 20/11/2019
KUALA LUMPUR, Nov 20 -- UMW Holdings Bhd has revised its second quarter (Q2) ended June 30, 2019 results as it had inadvertently omitted an elimination for the reversal of provision for a financial guarantee amounting to RM27 million in the earlier results announcement.

This has given rise to an adjustment being made to the group’s profit before taxation from RM179.1 million, as disclosed in the earlier announcement on Q2 results dated Aug 27 to RM152.1 million under the revised financial results.

In an announcement on Bursa Malaysia today, UMW said relevant consequential amendments to Q2 results have also been made accordingly, where its profit after tax and minority interests (PATAMI) for Q2 2019 is now adjusted from RM84.2 million to RM57.2 million.
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The Q2 2019 earnings per share was also adjusted from 7.21 sen to 4.90 sen.

“The board, via its Audit Committee, wishes to emphasise that it views the incident seriously and has instructed the management to conduct an in-depth review of all processes to ensure that sufficient controls are in place.

“The management has also taken immediate steps to strengthen the group’s financial disclosures to ensure such incidents do not recur,” the company said.

The company assured that this incident relates to a singular item and does not affect the accuracy of any other published announcements.

“UMW is fully dedicated to its responsibilities as a public listed company and committed to continue upholding best practices in corporate disclosure,” it added.

In a separate announcement, UMW reported a revised Q2 net profit was RM57.19 million compared to RM124.38 million in the same period last year.

Previously, it announced a Q2 net profit of RM84.19 million.

For the six-month period ended June 30, 2019, its net profit was revised down to RM143.69 million from a higher profit of RM170.691 million announced previously.

-- BERNAMA
21/11/2019 2:07 PM

I think you are right, FF seem to be dumping both UMW & MMBR

GLNT No relationship between UMW & MBM financial statements coz MBM doesn't hold UMW shares at all. Faint.

the 27m adjustment does not have much impact to MBMR as explained above

panic selling by minority shareholder mainly because UMW blunder on 2nd QTR report, EPF not selling below RM4.1

restatement of UMW financial statement for 2nd qtr of RM27m would not have much effect on MBMR, 27m x 20% =RM5.4m which translate to 5.4/390=0.0138 (EPS of1.38 cents ) only which is less than 2 cents

https://www.theedgemarkets.com/article/lead-story-still-some-power-left-motor-stocks

Another 45 days to go for petrol price increase, people will chose cheaper version cars

https://www.thestar.com.my/news/nation/2019/10/08/ron95-price-to-be-floated

Genting paying 20 cents dividend but value per share is rm6+, maxis paying 18 cents dividend value per share is 5+

Some funds collecting smartly

With 60% dividend policy and even if every qtr EPS 10 cents , 24 cents dividend will value MBMR at 24/15 x rm3.93=rm6.29 . That's the minimum might go higher than that.

you must be good in selecting stock to use SFM, check my tread I have been holding uptrending Naim(70 cents) MBMR (2.80), UWC 1.95, MI(1.95),ROHAS(0.58),lately all during the last 3 month (only one stock then jump to the next one)

SFM increase profit... its all about probability sometimes you lose but not much but the gain are much higher with higher probability.

big time banker are in so don't chicken out

dumb dumb hold

TP above rm1.1 , dont sell cheap

Mine is 4.5% with Maybank

Me one of them, been using SFM for over 10 years, so far so good (only on good quality stock)

Posted by lachai2004 > Nov 1, 2019 11:25 AM | Report Abuse
There is a saying that 80%-90%of the retailers are not making money in the stock market, only those skillful ones are able to survive to make profit!!

Same analogy impling that only 10-20% investors are able to use margin wisely as to generate extra profit in stock market. So please make sure you yourself is the cream of this group of talented investors before leveraging with margin account.

Yeah Stupid EPF, other fund are collecting non stop , TP RM7 I see money

Posted by GLNT > Nov 5, 2019 3:39 PM | Report Abuse

After EPF stops selling, stock can continue to boom

TP RM 1.00, changing fortune for Rohas

Me all in MBMR

The lowest Auto stock around

just need to wait until some funds finish selling, will fly once all sold out TP RM7

Yeah uptrend still intact, tp rm 3,5

Just bought at high price

as I said before, dumb dumd hold, looks like can reach RM4

just added some unisem, will join the ride up together hahahhahaha @2.48

Just dumb dumb hold, selling still ongoing so banker not pushing so fast.

Yeah dumb dumb hold, might even reach 3.5 very soon

My TP for magni is RM 10, next qtr result would be better so keeping for few qtr , might even go higher than 12 because low PE and funds are collecting

looks like new vitrox/penta in the making

Trump trade war on China bringing benefit to Magni, next qtr result might even be better so possible to reach RM10 TO RM12(as at now before split & bonus), me keeping for few qtr for better value and that the reason funds are collecting.

Yeah, money is coming

monetary 有空吹吹水。财源滚滚来。

holding strong, still collection stage.... me just waiting for the big push

fund collecting before major push..

consolidation until those selling stop before flying just like Penta, just wait guys

lets everyone sell, one finish selling will fly sky high...

Trump trade war shifting sales to Magni with better profit margin, just hold Immediate TP rm8

whatever you all are saying, expect MI to cross RM2.5 soon

woow, suddenly so many comments

Today is just the begining, many more happy days to come

Trump trade war benefiting MI , just watch will cross rm2 next week and very soon above 2.5

huge buying and selling volume daily , crazy stock me sold all

waiting for for major push soon, TP rm3

completion of new factory revenue and profit will double or trible, bought average 1.87. RM3 is possible soon

woow

seen Pang72 at hengyuan forum, many of his friends are missing from I3

bought at 2.96 still holding, TP 6.35

the cheapest among all the auto company, Target price RM7

TP rm7

Been shouting Naim since 70 cents, TP 1.70