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MRCB Fundamental analysis (20/12/17) MQ Fundamental Rating 2.5 / 5 Rating Breakdown Pass: 4 Fail: 4 No result: 0 (BUT VERY FAST IMPROVING WITH ITS STRENGTHENED BALANCE SHEET AFTER ITS RECENT RI plus the impending proceeds from disposals of high value assets including Menara Shell, Menara Celcom, Ascott and the very significant impending disposal of its EDL (per 2018 Budget announcements) for estimated RM2.75B (inclusive of off-loading its SUKUK loan of rm1b) plus all its Transit Oriented Developments (TOD) especially for Kwasa Sentral, Bukit Jalil Sentral (expected receivable of rm1.14B cash from EPF for the latter’s 80% stake in it) will soon turn MRCB into a Net Cash Position which will be very positive for higher Dividend payouts.)
A re-posting of a recent review of its business and financials based on its 9M results by a IB pointed to its strong growth going forward :- Highlights • Strong property sales. 9M property revenue and EBIT fell YoY by 10% and 40% respectively. This was due to the higher base in FY16 from (i) agency fee earned for the sale of Nu Tower 2 and (ii) contribution from Menara Shell pre- disposal. MRCB achieved strong property sales of RM1.2bn for the 9M period (70% from Sentral Suites), a significant improvement from the RM192m achieved for the entire FY16. Unbilled sales stands at RM1.6bn, implying 1.4x cover on FY16 property revenue. • Construction improves. Construction revenue increased 237% YoY for the 9M period due to lumpy recognition for the National Sports Complex (NSC). EBIT margin improved YoY from 2.1% to 2.9% but this was “artificially” suppressed as MRCB does not earn a profit from the NSC job (paid via land). YTD job wins now stands at RM468m, bringing its orderbook to RM5.3bn. • Healthier balance sheet ahead. MRCB’s net gearing stood at 114% as of 3Q. However, with the rights issue (1 for 1) completed earlier this month, we estimate its profoma net gearing to have reduced to 36%. Management estimates that the disposal of EDL, Menara Celcom and Ascott could potentially transform its balance sheet into a net cash position.
(Disclaimers:- All the above postings and re-postings and other comments are purely for sharing n exchange of market info only. These DO NOT represent any Buy or SELL calls)
Well done folks!! Those who had not enter better buy some at 1.09, and Q more at 1.08. If you were a daredevil, buy more WB as so far I check with so many project and election coming there's not any risk that I can detect...!!! Let's wait and cheer till it breach 1.3, Gamuda up so much d, MRCB is you turn.
lifecare is funny. When tabung haji fund managers are back from holiday, they would be in shock as MRCB has rocket up and they can't even buy anything more.
They are a lot of investors wanting to buy but hoping to buy cheap..... never mind, let them wait and wait, maybe after March next year can get.Then, I will join them to sapu again.
i think EDL most probably next week and BANDAR MALAYSIA @ end of february 2018 after china's president xi zhing ping visit malaysia mid of february before PRU14 (march 2018)
Posted by Fortune > Dec 21, 2017 06:13 PM | Report Abuse X
VenFx comment on Dec 20, 2017
Stock: [ANZO]: ANZO HOLDINGS BHD
Dec 20, 2017 01:02 AM | Report Abuse
Go buy MIECO @ 0.920 early morning. Xmast small gift for u .
21/12/2017 14:11
please explain to your comment above, mieco presently price at 0.825. you con every one in anzo to buy MIECO for you to escape from your contra dealing. bloody evil contra player VenFx aka fortunee
Life care face the truth...come join us!!! is 1.09 not so far head as our target is 2.00 hahahaha you want MR Calvin...he will later say something leak some news to us...hahaha poor thing miss the boat...BUY NOW....!!!
Gate open at 1.1 ~1.12....morning volume only 208,000 SHare price already up 2cents!!!! Guys, BUY NOW, when the real buy volume come it will only be too late!! check the technical chart, bunch ppl bought 18mil plus at 1.06~1.09 range!!! these few daily volume within 10mill only!!
lifecare, 1.08-1.09 is like RM130 - RM140 difference from 0.95. If you buy 10 shares, it s only RM1.3k - 1.4K difference. Why want to save this small amount and wait until it goes up to 1.30 only wanna buy?
Operator show mercy, buy some at 1.09---- Q more at 1.08!!! Don't miss the boat we are going for another wave ride it or wait till don't know when.....
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
sklim
136 posts
Posted by sklim > 2017-12-20 18:53 | Report Abuse
When will start up ? Haha