wonder why skyjet is trying so hard to undermine this stock. My TP for this stock is RM5 in the next 12-18 months. Collect smart and dont be impatient. =). Letss go MFCB
The total project cost including interest during the construction period is estimated at USD417 million. The Group intends to fund the project through a combination of internally generated funds (USD142.6 million), supplier credit (USD53 million), proceeds from rights issue (USD38.4 million) cum warrants (USD33 million on full conversion) and external bank borrowings (USD150 million). The Group is in an advanced stage of discussion with several banks to secure the USD150 million funding for the Project.
thats a huge debt ..... wonder what if there is economic crisis happen at 2019 /2020 just before don sahong start to be profitable company could have cash flow issue !!
Fabien Extraordinaire..... heheh....yup i sold at 3.70.... feel like currently having some chance to buy back ...... still waiting ..... that time unload at 3.70 turn into Hevea at 1.33, hopefully wait higher price to unload from Hevea and divert fund back into MFCB at maybe 3.50 level...... finger cross.
Focus M has a big article about MFCB . It has a TP RM 4.48. Don sahong hydroelectric project will contribute positively from this year until 2019. The power projects in China and Tawau will likely be renewed.
but bear in mind, my lower range of 4.20 did not take into account the potential re-rating of MFCB earnings multiple in view of the quality of its earnings (i.e. steady stream of income) coming from the Don Sahong project once it commences its operations in 2019
sorry, i have made some mistakes in my earlier computation. assuming MFCB earnings for 2017 and beyond grows in line with GDP (which is the most conservative estimates as we know MFCB will record more profits due to the recognition of the construction profit), MFCB should valued at a minimum of 4.76. if we to recognise the potential earnings growth arising from the Don Sahong project then i think we should be talking about 5 and beyond. that's my opinion anyway.
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mamipoko
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Posted by mamipoko > 2017-04-28 17:12 | Report Abuse
wonder why skyjet is trying so hard to undermine this stock. My TP for this stock is RM5 in the next 12-18 months. Collect smart and dont be impatient. =). Letss go MFCB