Calvin can b a liar, but there is no point for him to tell lies here,he does not benefit at all. Pls remember every investment you make is by your own decision. This forum is for people to share their view on stocks, i am glad there are ppl like Calvin Tan who willing to share so much. SKBTrader, you can be a liar too, y should we trust you. Pls show respect to members of this forum by not simply throwing out bad comment on members.
wa so warm. like a family here defending each other. i m quite new here to join this cool family. i think we are going to be members for the next few yrs coz MRCB's story will be a fantastic long episode!
The Long Long Line of Cars, Lorries & Others Going Into JB From Woodland has stopped me from Going Into JB today. See Those Huge Trailer Lorries. They Will be Paying Tons of Monies to MRCB Toll.
EPF, Salim & LTH own more than 84% of the outstanding shares. The other 15%plus are owned by foreign bankers, foreign & local funds & retailers. The liquidity of this counter is very low, indeed, if the big boys are not trading. It is very save to buy at this moment because the downside is extremely limited. It is also very boring for those who have bought because the upside is very limited as well.
Today for the whole day I stayed at home watching www.onemotoring.sg Hoping that traffic at Causeway will be clear enough to enter Johor.
It has been a one long unbreakable traffic jam.
So I got my calculator and do a little calculation.
Statistics have shown that there are 130,000 vehicles entering JB each day. Let's do a simple calculation.
130,000 x RM15.00 per car - both way) = RM1,950,000 CASH COLLECTED PER DAY (STRICTLY NO HUTANG)
Note: Many businesses closed after 5 pm. This Toll Business like 7 Eleven run 24 hour a day for the Whole Year.)
So RM1,950,000 x 365 = A WHOPPING RM711,750,000 PER YEAR PROFIT FOR MRCB!!
IS THAT ALL? NO!
MANY FACTORY & SCHOOL BUSES PAY HIGHER TOLL SENDING STUDENTS & WORKERS IN AND OUT SINGAPORE. THEN YOU HAVE GIANT LORRIES & LONG TRAILERS PAYING THE HIGHEST TOLL RATES!
All In All! EXPECT TOLL COLLECTION TO EXCEED RM1 BILLION PER YEAR.
THIS IS REALLY A CASH COW FOR MRCB!!
NO WONDER TABUNG HAJI IS BUYING NON STOP. EPF HAS ALREADY SCOOPED UP SUBSTANTIALLY!
@kennynam. You can check the change in shareholding under disclosure. The bursa announcements will tell you the number of shares these major shareholders own after each transaction. Divide the numbers by the latest number of share outstanding in quarter report will give you the most updated %shareholding of each major shareholder.
@kenntnam. So good to have old bird like you who can smell mistakes easily. @calvin. So good to have you who have 1st hand news of everything. I know there are plenty of silent readers out there. Please share so that you can correct ppl & get yourselves corrected. @Go4Share. If liquidity is low there are 2outcomes:
1.) low volatility. The counter I'll become unpopular 2.) high volatility caused by insider's acts of goreng
Another day. Another Big traffic jam at Causeway. Mrcb must be on the way to blue chip status someday. See www.onemotoring.sg. lnvesting is So Easy. No wonder Warren Buffet said he knows he will be RICH
shpok4574 It will only be temporary. You see, this will impact those with marginal income. To save cost they can always car pool. After all wages in Singapore is 300% MORE COMPARED TO JB. ANOTHER THING IS THIS. SINGAPORE IS A NATION WITH THE HIGHEST PERCENTAGE OF MILLIONAIRES. WHERE CAN THEY THEY GO?
THEIR CARS DON'T HAVE MOTORS. SO THEY CANNOT SAIL TO BATAM. OF FLY BY PLANE TO BALI OR KL? SINCE THERE IS NO WHERE ELSE TO GO THEY STILL WILL VISIT JB. ANOTHER THING IS. SINGAPOREANS STILL NEED TO EAT AND DRINK. CHEAPEST AND FASTEST STILL FROM MALAYSIA BY LORRIES. MORE TIME TO SHIP FROM CHINA OR INDONESIA. SO JUST LIKE THE SUEZ CANAL FOR ALL SHIPS SO JB CAUSEWAY IS THE BRIDGE TO FREEDOM FOR ALL SINGAPOREANS.
sgd against RM b4 I back to Msia in 2004 was ding dong btw 1.70-1.80 for so long but after that it was surge to 2.50 then 2.60 now...so even at 1.70-1.80 the Causeway oledi jam everyday...so with current exchg rate u think the hike in toll will affect those travel to spore to work? I can tell u the flat rental in Spore even gone up more scary than the toll hike compared with yr 2004...I don see many will quit their Spore job and back to JB...As long as the attractive exchg rate still stay, these workers will find way to minimise the toll payment...Spore eers still need many Msian workers to work for them. U can just ask Spore govt would they give PR so easily to resident from other countries other than Msian?
This morning happen read from Nanyang, didnt know the public transport fare charges from JB to Spore cost RM5 per trip..which was more than double in yr 2004...The operator looking for increase fare charges to RM6 per trip...This is the cheapest rate by way of using public transport other alternative like taxi or private illegal transport surely will be more expensive. KTM is charging RM3 per trip but only 5 trips per day to Woodland. so u can just ignore it unless they up the frequency to 20-30 trips per day. The toll charges of RM6.80 per entry at CIQ not much different from taking bus, and do remember if u r thinking of taking public bus transport, u need extra time, parking fee or taking another shuttle bus to Larkin station...then will likely to cost u even more. So toll charges at CIQ really not a big issue... The big issue I belif is the VEP charges...This is something discrimination and reason given rather unreasonable. JB has population of 2m and Spore 5m...would you think a lot of JB car going to flood at Spore street? What is so gd of going to flood at Spore street beside going there to work...maybe for casino gamble distance is shorter than going to Genting...Other than that nothing is cheaper and value for money compare to JB... VEP policy..a policy very similar to old days..a gangster policy...if u recall when an outsider wanted to do biz or dating a girl from another village, u have to pay a fee to the gangster in order to enter the village..otherwise they will punish u...why should punish a foreign car when they enter your country? You can charge higher fare for foreign car on toll or petrol or anything else if the govt has subsidy it for the local...but not this kind of gangster alike VEP policy.
Conclusion: MRCB has pretty strong balance sheet. The only problem is lack of liquidity. The toll collection is the best remedy for the problem. It is immediate hard cash.
(Management efficiency) Net working capital = 81.5mil Other operating asset = 2,057.9mil Invested capital = 2,139.3mil TTM EBIT* (1 - tax rate) = 81.6mil (excluding disposal gain of 94.9mil) ROIC = 3.81%
Conclusion: The return on invested capital is extraordinarily low indicating inefficient utilisation of asset.
What MRCB need to do: Generate more liquid asset to improve liquidity. Employ brilliant financial architects to impliment more efficient operation.
Valuation base on financial statement is looking at rear view mirror. In this case, I believe looking at the windscreen will offer clearer view. I m not in KL or JB. Therefore, I really appreciate those who can tell me what they can see beyond the windscreen.
if drop below 1.70, i need to buy more........i dont want to buy more already.Market not too healthy . Just go abv 1.80 is the best......all of us will be a bit happier
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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....
profithunter
117 posts
Posted by profithunter > 2014-09-09 17:24 | Report Abuse
does anyone knows what the EGM on 23rd Sept going to be about?Is the company going to issue dividend,free warrant,bonus shares etc