Posted by Tom_lks > 2014-10-17 23:45 | Report Abuse

why? because i simply like it
looyee, i not sure if it's a good time for me to pick up..... please check this (paragraph 3 & 4): http://www.investing.com/analysis/here's-where-we-are-229462

Posted by samcghee > 2014-10-18 08:59 | Report Abuse

Some people over here have their positive and negative intention.Of course, it is up to them. We are here to share and discuss each other. Hope we are happy and enjoy the benefit of i3investor.

Posted by samcghee > 2014-10-18 09:09 | Report Abuse

No matter how negative u talk about mflour, I will definitely keep and hold it for long term. i bought it in July 2012 although there was a price flactuation but ultimately the price was climbed up slowly & steady. I continuously received the dividen given by mflour. We all come here in the hope we can improve/gain money/investment.

Posted by raymondanoh > 2014-10-18 10:59 | Report Abuse

Do you mind to share your forecast when it will drop to 1.30. have started to collect at 1.710.why do you think it will drop to 1.30?.

Posted by yfchong > 2014-10-18 15:21 | Report Abuse

Simple estimation pe @ 1.2 NTA 1.5, Ttm eps multiple naps 1.30 comes to indicative of rm 1.9, now mos at 0.11 still slightly risky. So at 1.3 abit Susah unless eps at 6 cts for 2014. That my 2 cts view.,

Posted by yfchong > 2014-10-18 15:22 | Report Abuse

Risk of speculative value at this point is less...

Posted by Karl Feihong > 2014-10-20 09:53 | Report Abuse

yes..mflour is only for strong believer like us..proven now! :)

Posted by powerwk > 2014-10-20 23:12 | Report Abuse

For those hold short term and no holding power then better get out now otherwise just leave it without worry. If you have other counter holding beside MFlour then I'm more worry to your other counter compare to this one. Well, as usual I could be wrong.

Good luck.

Posted by ray81 > 2014-10-21 14:12 | Report Abuse

fully agreed with powerwk. Operation just started well in indonesia...room of growth is still extensive...is for long term

Posted by KC Loh > 2014-10-21 14:21 | Report Abuse

Still not even close to fair value yet :)

Posted by Sashimi > 2014-10-21 14:26 | Report Abuse

For now flour only support is Mamak roti canai

Posted by Sashimi > 2014-10-21 14:28 | Report Abuse

After GST flour will do well. Blanket given for in doubt charge GST. Mamak around malaysia will charge for zero rated

Posted by KC Loh > 2014-10-21 14:39 | Report Abuse

"We believe the growth in Indonesia should catch up soon as we will see additional 3 million tonne demand in the next five years," Teh added.

Market boom-burst cycle aside, misappropriation of price to value is so glaring!

Posted by yfchong > 2014-10-21 16:22 | Report Abuse

Welcome back bro KC....., how is your day with optimus...?.

Posted by KC Loh > 2014-10-21 16:26 | Report Abuse

Lembu massacred. Raya haji extended! Steak anyone?

Posted by Sashimi > 2014-10-21 16:28 | Report Abuse

Well done

Posted by raymondanoh > 2014-10-21 19:14 | Report Abuse

Any T bone steak left?. How is your steak compare to condo ?.

Posted by yfchong > 2014-10-21 21:00 | Report Abuse

Happy depavali to all members...,fr flour to chicken pls consume more

Posted by ray81 > 2014-10-24 09:12 | Report Abuse

http://www.indexmundi.com/commodities/?commodity=wheat

WHEAT PRICE continue drop......good for Flour business...

Posted by yfchong > 2014-10-24 10:49 | Report Abuse

Ray81, thanks for sharing......,cheers

Posted by powerwk > 2014-10-26 12:27 | Report Abuse

Hello everyone, how thing going? Being away for work & project for quite some time but my stock remain the same. Still looking good for MFlour? Checking my profile for this counter and still green green for me, hope the rest are the same especially those that hold for years like I do should see the green green in their profile.

Posted by yfchong > 2014-10-26 22:42 | Report Abuse

Successful investing is simple, but it's not easy.....,fr pat dorsey

Posted by Abudance > 2014-10-27 14:28 | Report Abuse

Sudden up 4 sen...

Posted by Bryan Ng > 2014-10-27 22:24 | Report Abuse

Stil x convincing enough unless break 1.90

Posted by DickyMe > 2014-10-28 00:22 |

Post removed.Why?

Posted by Rinoa > 2014-10-28 11:27 | Report Abuse

dividen is coming soon. big meeting next month

Posted by ray81 > 2014-10-28 14:07 | Report Abuse

BIG Dividen???? BIG Dividen?

Posted by Rinoa > 2014-10-28 14:51 | Report Abuse

The usual year end angpows :)

Posted by ray81 > 2014-10-28 15:40 | Report Abuse

Sure mou? Got anypow? every year like that ah?

Posted by raymondanoh > 2014-10-29 07:56 | Report Abuse

Let guess the dividen pay out if any for Q3, My hope is 6 cents single tie and special dividen 3 cents.

Posted by raymondanoh > 2014-10-29 09:33 | Report Abuse

My forecast RM 1.90 and more will happen next thur or friday.

Posted by yfchong > 2014-10-29 09:51 | Report Abuse

let's see Mflour does not require any further Capex for CFFO, will they give out more

Posted by yfchong > 2014-10-29 09:51 | Report Abuse

or repay bank borrowings..,

Posted by yfchong > 2014-10-29 10:19 | Report Abuse

Now i do dcf @ 9% see how lah

Posted by raymondanoh > 2014-10-29 11:26 | Report Abuse

look like my forecast is wrong, RM 1.90 going to be break today. Pray hard.

Posted by pokclark > 2014-10-29 11:32 | Report Abuse

Mflour (Malaysia Four Mill Berhad) 3662

Mflour一间值得买进的消费公司。公司established于1961年，公司主要的生意是从事小麦加工以及销售（面粉生产），以及谷物和其他相关的产品。该公司还涉及到生产和销售动物饲料及相关原材料;购买和家禽转售的订单农业;加工及销售家禽产品;养殖和销售鸡苗和鸡蛋;和家禽养成农场，培训和研究中心，以及出租物业的经营。Mflour是一间马来西亚第二大的面粉生产商，在越南则是第一大的面粉生产商（占公司26%的盈利）。面粉业务占有公司盈利的60多%，而且集团不停的扩张公司在市场上的地位，近年来马不停蹄的增加和提高公司的生产能力来符合或满足庞大的市场需求。我们可以看到公司毫不犹豫地下重本去增加Malaysia以及Vietnam的生产线，的确它的效应是很明显的产生了正面的画面。在近年来公司也通过联营的方式进军印尼这个庞大比我们大几倍的新兴市场设厂，成立了印尼PT BUNGA SARI的品牌来扩张在印尼的面粉业务，印尼的业务预测将会在今年2014年的第三业绩开始贡献公司的盈利，这的确值得我们关注。
为什么我们要买进这公司，有什么理由要持有它，而它会有怎样的市场潜能呢！让我们来看看以下的几个因素：

1．Population（人口）
对于我来说消费股是非常依靠POPULATION MARKET （人口），在经济上最大的主角就是人口，一个国家到一间小公司的成功以及失败完全是和人口有着密切的关系，因为人口永远是支掌着一个经济，国家以及一个产品的主要因素，Mflour的确在人口上的因素占了很大的优势，亚洲的确是一个非常庞大的面粉使用市场，几乎每个亚洲人每一天都会吃到以面粉制作出的食品：面包，糕点，面条，印度煎饼（roti canai）等等。它的产品是永远不会消失，除非人类再也不存在了。再加上，亚洲的人口收入大多数都比较处于中下水平，所以面粉是我们这些平民的主要食品，没了它我们要如何活T.T.。人口不停的上涨，这的确给Mflour带来无量的上涨空间，这我们可以通过公司在这几年的turnover来证明它的上涨实力：2009 年的turnover RM1,201,053,000 完美的上涨到2013年的RM2,306,038,000差不多上涨了100%，这完全是人口的需求上涨而增加的，它不是好像其他接工程的公司这样通过得到别人给以PROJECT来刺激本身的Turnover，有工程是就好,没工程就不好，所以MFLOUR的TURNOVER 生意量是永远不会停止上涨，人口一直不停的上涨。我找不到理由它会停止上涨，什么见顶或者没上涨空间的理由。

2. Economies of scale (规模经济)
MFLOUR一间比起其他同行来说，它的确拥有经济模式的大公司。所谓的规模经济就是公司不停的提高本身的生产力或是大量的生产来降低公司的生产成本，这样可以提高公司的盈利以及大大提高公司在那领域的竞争能力。MCDonalds公司就是全球拥有最大的规模经济，它就是最好的SAMPLE。就我拿个Example来说：MCDonalds通过7年的研究终于研发出MCnuggets这品牌，就是要符合每个国家的要求，这样它们才可以大量的生产来拉低生产本钱，如果每个国家都卖或生产不同的nuggets的确对它们来说太costly了。Mflour不停的投入资金在提高本身的生产能力，增加capacity来fulfill和`朝向 规模经济的条件。以亚洲的人口来说MFLOUR的确可以拥有更大的经济规模，而且它已经在做着了。

3．Production Cost（生产本钱）
随着小麦原产品掉到52weeks的最低点，不停的创造出新低。这的确给以MFLOUR很好的天时，直接可以大大的降低公司的生产成本，提高公司的PROFIT MARGIN。 除此之外，Corn原产品也是下降了差不多30%,在这一方面要大大地拉低了公司在加工及销售家禽产品;养殖和销售鸡苗和鸡蛋;和家禽养成农场上的成本。这样的情况就好象你的工资上了，但生活费下降了那么的兴奋。如果生产本钱可以一直维持在这样的水平，我相信公司可以趁着这机会累积更多的盈利，来做为未来的扩张，或者红股和利息的分发。

4．Cash flow (现金流)
公司的现金流都维持和控制在非常健康的水平，在cashflow operating 方面这五年平均维持在RM75,013,000左右。在casflow investing 上，我们可以看到公司在这三年平均每年投入Rm120,000,000左右的巨款来加强公司的生产线和扩张市场，我相信公司在未来的几年会对公司所投入的资金产生巨大的正面回响。公司每年都大手笔的投资在公司的业务上，这并没有影响公司在累积现金方面带来负面的影响，我们可以从公司的现金成长来带出一个信息，当公司出更多钱在投资流那方面，会给公司的现金带来正面的回报，2009 公司持有的净现金是Rm142,179,000 增值到2013年的Rm307,261,000，成长了一个116%。

5．Par value vs NTA and cash per unit
从par value vs NTA和cash per unit 上看来我们可以清楚地知道公司是否以能力给以红股或bonus. 的确以mflour现在的财力它是有能力分发红股的。NTA是rm1.30 ，如果以PARvalue 0.50 比较的话，它已经超越了parvalue 160%,而且在NTA rm1.30的net tangible asset里有38%是现金来的，就是公司的cash per unit是rm0.50.

我已经吃了这碗面粉糕了，希望它可以带给我更多回报。
(没有买卖的成分，只供参考）

Posted by yfchong > 2014-10-29 11:35 | Report Abuse

Wow good and well cover...,noting much to say..., the rest is just wait loh...,

Posted by raymondanoh > 2014-10-29 12:26 | Report Abuse

Pokclark -it seem to me your posting should be very informative but sadly cannot understand mandarin. where can find the english version?.

Posted by pokclark > 2014-10-29 12:34 | Report Abuse

raymondanoh. really sorry. This one only has mandarin version because is wrote by me.

Posted by yfchong > 2014-10-29 12:44 | Report Abuse

Hi pokclark do you have a web page where by can read your postings

Posted by KC Loh > 2014-10-29 13:00 | Report Abuse

pokclark, you can research that they are venturing to Myanmar currently. They are looking for some Japanese FTZ (processing) so as to negate the electricity cost! I have a feeling last quarter's earning was without dividend because they are starting to venture there with some capital outlay.

if they decide to operate in the same manner as they did with indonesia, a special dividend may possibly be at hand! looking at the price climb currently, i believe good earning report coming out

Posted by KC Loh > 2014-10-29 13:01 | Report Abuse

and thanks for the good write up. :)

Posted by ray81 > 2014-10-29 13:16 | Report Abuse

hope the UP trend will continue......thanks for all the supporters!!!

Posted by pokclark > 2014-10-29 13:23 | Report Abuse

yfchong, you can read my posting at http://cforum1.cari.com.my/forum.php?mod=viewthread&tid=2674394&extra=page%3D1&page=1

Posted by pokclark > 2014-10-29 13:31 | Report Abuse

kc loh, mflour got intention and planning venture it business into myanmar but have a lot restriction. hope management can solve it because Myanmar really a good market...less of competitor there.

Posted by samcghee > 2014-10-29 14:54 | Report Abuse

mflour is moving up liao ultimately.

Posted by KC Loh > 2014-10-29 14:55 | Report Abuse

the problem is malaysia is quota restricted. but not Vietnam and Indonesia which the management searched for better market abroad! and looking at the way they go, it looks like they really have researched their market well. I believe you are right in that Myanmar is also a good market and in need of FDIs. MFlour should do well there if they managed to secure the land!

Posted by Rinoa > 2014-10-29 15:26 | Report Abuse

The dawn of rm2.20 is about to come!

Posted by ray81 > 2014-10-29 15:29 | Report Abuse

more supporters, more merrier...

Posted by Rinoa > 2014-10-29 15:31 | Report Abuse

Just wondering, where is the big mouth Jolie2? Silently collecting mflour shares instead? Haha