Posted by Davidl > 2019-07-17 21:18 | Report Abuse

Time to accumulate!

Posted by Icon8888 > 2019-07-25 15:38 | Report Abuse

Huat ah

Posted by casualplay888 > 2019-07-25 16:13 | Report Abuse

Icon8888 sifu, The price moved up, but the volume is so small.

Posted by Jaack1 > 2019-07-29 10:03 | Report Abuse

For investors in MFCB: -

Latest update 29.07.19 by Public Bank Bhd.
Outperform - New target price RM5.04

https://cdn1.i3investor.com/my/files/dfgs88n/2019/07/29/1511530604--470089019.pdf

Happy investing
Jaack1

Posted by Davidl > 2019-08-03 21:30 | Report Abuse

Time to accumulate

Posted by freddiehero > 2019-08-03 22:50 | Report Abuse

too high..

Posted by freddiehero > 2019-08-03 22:50 | Report Abuse

lets break 2.0

Posted by Davidl > 2019-08-04 23:20 | Report Abuse

Buy more tmr

Posted by 金刚 般若 > 2019-08-14 13:02 | Report Abuse

Hi all, This is the latest Don Sahong Dam video. Chinese video and no subtitle.

http://www.taotaole888.com/thread-42874-1-1.html
this is the link video, but not very clear. Estimate you all can watch in you tube after 2 week or one month.

Posted by 金刚 般若 > 2019-08-14 22:43 | Report Abuse

https://www.klsescreener.com/v2/news/view/567242/mega-first-calls-off-mixed-development-project-in-perak

Posted by calvintaneng > 2019-08-16 08:28 |

Post removed.Why?

Posted by leong111992 > 2019-08-16 08:41 | Report Abuse

Great

Posted by Thelastone > 2019-08-16 17:09 | Report Abuse

Mfcb submitting PV solar tender for 100MW for LSS3 and Laos Don Sahong wet test starting soon!

Posted by Fakao Yu > 2019-08-16 19:42 | Report Abuse

Uptrend now.

Posted by LKOH > 2019-08-18 14:50 | Report Abuse

@Thelastone, where did u get the news?

Posted by kenken85 > 2019-08-18 15:14 | Report Abuse

newspaper LKoh. haha. not a secret news.

Posted by Davidl > 2019-08-22 19:06 | Report Abuse

Qtr result out!

Posted by kenken85 > 2019-08-22 20:33 | Report Abuse

faster sell.. dont keep

Posted by shpg22 > 2019-08-22 21:18 | Report Abuse

chiak lat liau

Posted by Beast > 2019-08-22 22:53 | Report Abuse

Ya sell please, i want buy low

Posted by Thelastone > 2019-08-22 23:47 | Report Abuse

Ya,results very the bad!
Sell quickly tomorrow please

Posted by Davidl > 2019-08-23 13:08 | Report Abuse

Time to accumulate!

Posted by kenken85 > 2019-08-23 16:42 | Report Abuse

how to accumulate when it is not dropping?

Posted by Thelastone > 2019-08-23 18:10 | Report Abuse

Accumulate up then!

Posted by limcs > 2019-08-26 10:57 | Report Abuse

dropping now ... can accumulate ..fast !

Posted by Thelastone > 2019-09-18 18:37 | Report Abuse

Guys...anyone any idea when is the wet test on turbine 1,Don Sahong!Appreciate it

Posted by KL Tneoh > 2019-09-18 19:51 | Report Abuse

The first turbine wet test already started since 12th of June, and I think that 2 & 3 turbines also already in wet test status. Whereas selling power generated from wet test will only started by end of this month (September).

Posted by Thelastone > 2019-09-18 20:53 | Report Abuse

Thank you KL Tneoh, Great news indeed!

Posted by linjie > 2019-09-19 09:59 | Report Abuse

they are planning for 5th turbines, if its approve by laos then we shall see another 25% np jump by next 1 or 2 yrs , eps should be above 90 cent

Posted by limcs > 2019-09-19 10:24 | Report Abuse

@linjie , 5th turbine is super good news ! Thanks for your input :)

If EPS : 90 Sens (after fifth turbine starts power generation)

If market acceptable PE = 12 , 12 x 90 sens = RM 10.80

Price today : RM 3.83

FAT FAT FAT meat = RM 10.80 - RM 3.83 = RM 6.97

Pay RM 3.83 now , market will pay you RM 6.97 by next 2 years (excluding dividend) !!!

Huat !!!

Posted by Thelastone > 2019-09-19 11:26 | Report Abuse

I think for growing company with foreseeable good prospect in 2020-2022 not to forget about the coming LSS3 project,PE 12 at rm10.80 is very conservative.PE 15 at rm13.50 is more reasonable,rught!

Posted by Thelastone > 2019-09-19 11:34 | Report Abuse

Mfcb cash cow in 2020 with abt rm90m profit each quarter from Don Sahong

Posted by KL Tneoh > 2019-09-19 11:38 | Report Abuse

Personally I think even with the addition 5th turbine, EPS of 90 cents is unlikely to achieve.

Estimated of earning based on 4 turbines (assume 80% of the capacity)

Revenue : 5 millions kilowatts x 0.0615 x 365days = $112,237,500

Operation cost : 5% of Revenue

Government Royalties : 5% of Revenue

Estimated Interest Exp : $8.5 mils

Depreciation: $20 mils

Estimated net profit : $72,513,750

MFCB 80% : $58.01 mils (RM234.94 mils @ USD 4.05 rate)

Resources & Property Division : RM16 mils (net of tax)

Estimated fully diluted EPS : 52.8 cents (assume 475 millions shares after take in account warrant & ESOS)

If the 5th turbine come into picture, personally I think the most it can generated another 12-14 cents EPS per year.

Anyway it is just my personal estimation, I might be wrong.

Posted by limcs > 2019-09-19 13:04 | Report Abuse

@KL Tneoh , thanks for you info .

Estimated fully diluted EPS : 52.8 sens(assume 475 millions shares after take in account warrant & ESOS)

have the sharebuy back account calculated ? it increase the EPS as well :)

EPS : 52.8 sens X PE 12 = target price = RM 6.3

RM 6.3 is also a very fat meat !!

Huat !!

Posted by KL Tneoh > 2019-09-19 13:06 | Report Abuse

Yes, the total 475 millions shares used for calculation already take into account of 20 millions treasury shares held.

Posted by limcs > 2019-09-19 13:28 | Report Abuse

@KL Tneoh , thanks for your superb explanation!

According to the calculation above ,
the target price of pbbank(RM5.04) and maybank(RM4.35) are too conservative ! They should rise the TP ASAP :P

Huat !!

Posted by KL Tneoh > 2019-09-19 14:30 | Report Abuse

Investment bank used different methods to do valuations ! They used EV + Discounted cash flow

Posted by utopia86 > 2019-09-19 14:36 | Report Abuse

@KL Tneoh, I can see you are using only 80% capacity. Mind to share the reasoning behind? Hence, with your calculation above, there is still a 20% margin of safety for this stock even with RM6.3 target price!!

Posted by limcs > 2019-09-19 14:37 | Report Abuse

@KL Tneoh , could you spend your time to explain more about EV + Discounted cash flow ?

perhaps you can take mfcb as the example . :)

Huat!!!

Posted by KL Tneoh > 2019-09-19 14:55 | Report Abuse

@ utopia86, 80% is used because there will be no hydro power plant can run up to 100% capacity due to various reason, besides during the dry season for Mekong river, the running rate for Don Shahong can be as low as 77% (according to management). Public Investment Bank estimation is based on 80%, so to be conservative I used 80% too.

@limcs you can refer to the analysis report from both the Public Investment Bank & Maybank, at the end of the report they clearly stated the Sum Of Parts Valuation for the TP.

Posted by gyl6886 > 2019-09-19 14:55 | Report Abuse

@ KL Tneoh Yes, please explain a llittle bit more on the calculation from investment bank? Besides that, base on your esimation calculation, this share consider under value.

Thanks for your sharing

Posted by KL Tneoh > 2019-09-19 15:10 | Report Abuse

Please kindly refer to page 6, SOP valuation is stated clearly there.

Whereas undervalue or not, is all depend on whether Don Shahong project can deliver the earning as projected.

https://cdn1.i3investor.com/my/files/st88k/3069_MFCB/pt/PUBLIC%20BANK/3069_MFCB_PUBLIC%20BANK_2019-08-23_BUY_5.04_Mega%20First%20Corporation%20-%20Waiting%20for%20Energy%20Test_-2045857203.pdf

Posted by tipumakan > 2019-09-19 21:56 | Report Abuse

another good news. interest of borrowing will reduce, since borrowing are mostly in USD

Posted by Thelastone > 2019-09-20 10:11 | Report Abuse

Ya good news.In the last q report page 16,Mfcb reported using interest rate swab of 2.5% to hedge against any rising LIBOR for its revolving credit facility.That means its rm713m short term loan interest is capped at 2.5% which will be about rm4.45m each quarter.
Another thing is in page 9,company disclosed that total outstanding ordinary shares is 399.9m plus warrants not yet convert 50m so total shares is abt 450m excluding esos!

Posted by KL Tneoh > 2019-09-20 13:16 | Report Abuse

Interest rate cut benefits is rather minimum, every 0.25 basis point cut will reduce Interest exp by USD400K, but still a positive thing.

Posted by freddiehero > 2019-09-22 15:57 | Report Abuse

wah lau.. nice tp

Posted by kenken85 > 2019-09-23 10:24 | Report Abuse

up Ady. let's sale..

Posted by David Ng > 2019-09-23 11:30 | Report Abuse

Those looking for more information can refer to the company's PowerPoint slides during the Invest Malaysia earlier this year. They did present the dam information there.

Posted by limcs > 2019-09-23 12:29 | Report Abuse

Turbocharger starts for last lap? lets wait for next Q report :P

Posted by utopia86 > 2019-09-23 12:45 | Report Abuse

Sprint through RM4 , which is the Double Head from previous price on the chart. Looking forward to its continuous upward trend.