Posted by rob_z3_man > 2019-03-11 13:02 | Report Abuse

Why master otb never inform subscribers?

Posted by Investar2862 > 2019-03-11 14:34 | Report Abuse

https://cdn1.i3investor.com/my/files/st88k/3662_MFLOUR/pt/AMINVEST/3662_MFLOUR_AMINVEST_2019-03-11_BUY_0.89_Malayan%20Flour%20-%20Chicks%20rule%20the%20roost_-37264917.pdf

Posted by Investar2862 > 2019-03-11 14:35 | Report Abuse

Suddenly got so much attention....

Posted by banker33 > 2019-03-11 17:03 | Report Abuse

remember TP 85 cents by Amresearch. CIMB gave also 85 cents but warrants will go higher like today up 6 cents, tomorrow will be more for warrants. I presume warrants opens tomorrow at 33 cents is DJ tonight performs well.

Posted by catchcon > 2019-03-11 17:12 | Report Abuse

warrant exercise price is 68 cents [mother now 74 cents] and still got 5 years to go, so tomorrow go up by how much? You all guess lah. Maybe 6, 8, or 10 cents, see mother move first how.

Posted by cccc > 2019-03-11 18:22 | Report Abuse

Direct disposed again. Not a good sign.
http://malaysiastock.biz/Company-Announcement.aspx?id=1126748

Posted by banker33 > 2019-03-11 18:46 | Report Abuse

Posted by Trump > Mar 11, 2019 06:22 PM | Report Abuse

Direct disposed again. Not a good sign.
http://malaysiastock.biz/Company-Announcement.aspx?id=1126748


Nothing to worry brother, what they sold is only a tiny percentage as total warrants issued is 137.57 million . Moreover one of them sold last week at a lower price and another sold later but today sill warrant goes up 6 cents, still powerful so to say. In fact mother price today it's price is more than the conversion price [ this is excellent] and as they said got 5 years to go some more, so very very safe, nothing to worry, it's a guaranteed.

So, carry on as usual, nothing really to worry about. This counter is still very hot and tomorrow it warrant and mother price will move high I presume. Good luck brother.

Posted by Goinvest88 > 2019-03-12 06:53 | Report Abuse

Don’t worry director need money to buy condom

Posted by cybergreen > 2019-03-12 08:42 | Report Abuse

mflour-wa Tp1 37, TP 43c. let whack and enjoys the rise.

Posted by Hwai Hooi > 2019-03-12 09:35 | Report Abuse

if mother 0.75 wc should what price? how to calculate? thanks

Posted by banker33 > 2019-03-12 09:41 | Report Abuse

today good performance.

Posted by Joyce8439 > 2019-03-12 09:46 | Report Abuse

https://www.klsescreener.com/v2/news/view/501410

Posted by cybergreen > 2019-03-12 09:53 | Report Abuse

Mflour-wc tp1 37c hit.... next would be 43c.

Posted by pretty_life > 2019-03-12 09:57 | Report Abuse

Huat ar...profit taking

Posted by Huat1 > 2019-03-12 09:59 | Report Abuse

Getting closer to the first target at 0.81

Posted by banker33 > 2019-03-12 16:32 | Report Abuse

everybody very happy today as both mother and especially son goes beyond expectation.

Me buy higher and higher to help all. hope you all like it. Cheers.

Posted by UnicornP > 2019-03-12 17:01 | Report Abuse

yea tq

Posted by Go4it > 2019-03-12 18:15 | Report Abuse

Keep it up pls..

Posted by Reacheenergy > 2019-03-12 18:50 | Report Abuse

Minimum rm1.50 laaaaaaa

Posted by itch > 2019-03-12 20:17 | Report Abuse

Once the sharks come in rm1.80 sap sap sui...

Posted by samyew1234 > 2019-03-12 20:54 | Report Abuse

please sell, don't greedy

Posted by SuperPanda > 2019-03-12 22:24 | Report Abuse

didnt buy 64, then up 70, didnt buy 70 then 74, didnt buy 74 now 79..

Posted by SuperPanda > 2019-03-12 22:27 | Report Abuse

i trade this stock when it was 1.30-1.40 and earn a bit, then profit drop and have to do corporate exercise, now it back to profit... if by next qtr it continue to post profit, it will reach rm1 in 3 mths

Posted by SuperPanda > 2019-03-12 22:28 | Report Abuse

if you ask me is still can buy at .80, i hve to say yes

Posted by SDR245 > 2019-03-12 23:29 | Report Abuse

Next q . Better financial results. Keep buy.

Posted by Money122 > 2019-03-13 02:13 | Report Abuse

Ya didnt buy now 79cnt then 85cnt....etc

Posted by banker33 > 2019-03-13 07:23 | Report Abuse

INITIATE COVERAGE WITH BUY, FAIR VALUE
OF RM0.89/SHARE
We initiate coverage on Malayan Flour Mills (MFM) with a
fair value of RM0.89/share. Our fair value for MFM is
based on a fully diluted FY19F PE of 15x.
Our PE assumption of 15x for MFM is 20% below the
poultry sector’s (eggs and broilers) simple average PE of
18.8x for FY19F (see Exhibit 1).
Excluding QL Resources, the poultry sector’s (eggs and
broilers) simple average PE is 14.9x for FY19F.
An alternative exposure to MFM would be via its warrants.
Based on Bloomberg’s Option Pricing Model (assume 30%
volatility) and our fair value of RM0.89/share for MFM, we
estimate the fair value of the warrant to be RM0.31. The
current price of the warrant is RM0.255.
Currently, MFM has 137.6mil warrants with an exercise
price of RM0.68/share. The warrants are expected to
expire in January 2024.
MFM has been around for a long time, setting up
Malaysia’s first flour mill in 1966. MFM’s founder was the
late Datuk David Song, who came from Hong Kong.
In May 1976, the late Teh Liang Teik acquired the
controlling interest in MFM from Song. Teh Wee Chye
succeeded his father in 2002. Wee Chye opwns 20.27% of
MFM currently.
PEER VALUATION COMPARISON
 MFM’s PE valuation is undemanding
In the poultry industry, some companies produce broiler
chickens and some produce eggs. Broilers are young
chickens raised for their meat.
We believe that MFM’s FY19F PE is undemanding. MFM’s
current FY19F basic PE is 9.4x compared with CAB
Cakaran’s 12.8x and PWF Consolidated ’s 10.0x (see
Exhibit 1). In comparison, the egg producers are currently
trading at FY19F PEs of 6.9x to 42.4x (see Exhibit 1).
Compared with the flour producers, MFM’s FY19F basic
PE of 9.4x is cheap. PPB Group, which owns Federal
Flour, is currently trading at a FY19F PE of 21.1x while
Kuantan Flour is making losses (see Exhibit 1).
 Average PE of 15.9x from FY13 to FY17
According to Bloomberg, MFM’s PE ranged from a low of
10.1x to a high of 34.9x from FY13 to FY17. Average PE
was 15.9x from FY13 to FY17. We disregarded FY18 as
the PE ratio would be distorted by MFM’s poor earnings
performance.
Our PE assumption of 15x is close to MFM’s five-year
average PE of 15.9x from FY13 to FY17.

Posted by Jam8787 > 2019-03-13 09:22 | Report Abuse

May I know why the director keep disposing?

Posted by goody99 > 2019-03-13 10:32 | Report Abuse

Jam8787, it does not look like the director has made a good decision, right?

Posted by NoStyle > 2019-03-13 10:51 | Report Abuse

The director keeps disposing smells fishy...

Posted by 684780829 > 2019-03-13 11:25 | Report Abuse

Director who makan gaji BUTA. It is not the major shareholders la. This fellow is just to fulfill the listing requirements


Jam8787 May I know why the director keep disposing?
13/03/2019 09:22

Posted by SDR245 > 2019-03-13 11:44 | Report Abuse

Today x . People sell n later get dividends. Price will recover

Posted by janetchiam8 > 2019-03-13 13:57 | Report Abuse

Directors have both Warrants and Iculs.

They are selling some warrants and then use the sales proceeds to pay/convert their Iculs to mother shares. A positive sign

Posted by janetchiam8 > 2019-03-13 14:00 | Report Abuse

Smart move by Directors.

Positive as this signify their confidence Mflour's prospects.

Positive bcos their Iculs conversions will bring in more cash flows into Mflour

Posted by SuperPanda > 2019-03-13 14:06 | Report Abuse

i will wait at 70c bcoz not dare to take risk in weak market

Posted by SuperPanda > 2019-03-13 14:06 | Report Abuse

a stock will not forever goes up

Posted by puntters > 2019-03-13 15:09 | Report Abuse

convert RCULS no need to pay one mah. just surrender the RCULS to convert to shares. 1 RCULS (RM1.00) get 2 Shares for free. Subscribe rights issue RCULS that time already paid RM1.00 per piece. Why never read properly the prospectus on 27/12/2018? aiyo yo...

Posted by SDR245 > 2019-03-13 15:12 | Report Abuse

after x price recover back to 79. like airasia. yesterday drop n today up. 0.70 - 0.73 very good entry..if can get.

Posted by Jam8787 > 2019-03-13 15:44 | Report Abuse

goody99, I'm not sure he made the right move or not.. But the director knows best of their own company. Isn't it?


684780829, I haven't buy in this counter. Maybe need review few more days? Haha..

Posted by Superb99 > 2019-03-13 16:18 | Report Abuse

very high volume for the past few days

Posted by janetchiam8 > 2019-03-13 17:19 | Report Abuse

Alto the warrants and Iculs were issued free the holder must still pay the conversion price besides surrendering them.

If not payable then why set the conversion price ?

This is my understanding

Hope someone can confirm

Posted by janetchiam8 > 2019-03-13 17:25 | Report Abuse

OK. Double check. Correction.

There is no conversion fee set for ICULS.
Just the exchange ratio.

The exercise price is set only for the Warrants.

Posted by banker33 > 2019-03-13 18:12 | Report Abuse

SEE THIS FRIENDS.....




3662 MFLOUR MALAYAN FLOUR MILLS BHD
Additional Listing Announcement /Subdivision of Shares

1. Details of corporate proposalWhether the corporate proposal involves the issuance of new type and new classof securities? NTypes of corporate proposal : Conversion of Loan StocksDetails of corporate proposal : Conversion of Redeemable Convertible UnsecuredLoan Stocks (RCULS) to Ordinary SharesNo. of shares issued under this corporate proposal : 8,094,000Issue price per share ($$) : 0.5000Par Value ($$) (if applicable) : 0.000Latest issued share capital after the above corporate proposalIn the followingUnits : 961,306,041Issued Share Capital ($$) : Malaysian Ringgit (MYR) 506,176,262.000Listing Date : 13/03/2019Remarks:You are advised to read the entire contents of the announcement or attachment.To read the entire contents of the announcement or attachment, please accessthe Bursa website at http://www.bursamalaysia.com

Posted by janetchiam8 > 2019-03-13 18:12 | Report Abuse

Another correction. The Iculs were issued at the cost price of RM0.50 each.

Can be converted to mother shares at the ratio of 1 for 2

Sorry !!

Posted by puntters > 2019-03-13 18:13 | Report Abuse

Aduhai Janet, its RCULS not ICULS hahaha... R is redeemable. I is Irredeemable. aduh...
RCULS holders do not need to pay to convert the RCULS into shares. Because the subscriber already paid RM1.00 for 1 RCULS during the rights issue exercise. Therefore, when surrender 1 RCULS no need to pay but in return will receive 2 shares.

The warrant exercise price is RM0.68
mother share trading near RM0.77

The warrants is already in-the-money and has value because the warrants has 5 years tenure starting from January 2019 until 2024.

If AmBank is able to issue a fair value analyst report for RM0.89 on mother share, the value of MFLOUR-WC will worth something for sure.

the Company has the ability to grow its profits from its poultry integration segment for sure because capex already spent to build new poultry plant which will complete soon. The capacity for processed chicken will increase, similarly the sales for processed chicken will definitely increase.

Decent interim dividend payout and safe heaven food producer company. What are you waiting for? the warrants is really cheap.

Posted by puntters > 2019-03-13 18:15 | Report Abuse

If miss the boat first time, it is still ok.

If miss the boat twice, you better start reading up on the potential of this Company.

If miss the boat three times, then i dont know what you are investing in hahahaha....

Posted by janetchiam8 > 2019-03-13 18:18 | Report Abuse

Thank you very much for the info and clarification.
Very useful info

Posted by puntters > 2019-03-13 18:31 | Report Abuse

Based on the company prospectus for rights issue (pg. 22) the production capacity for processed chicken is 80k birds slaughtered A DAY to process into cut chicken for sale to quick service restaurants. When the new poultry plant is ready by this year, the production capacity is expected to grow from 80k birds slaughtered A DAY to 240k birds slaughtered A DAY.

Everyday RAKYAT MALAYSIA MAKAN AYAM yo yo yo. The easiest access protein content. Finger Licking Good. People eat chicken everyday yo.

Flour segment is earning profits steadily over the years. The boom of this Company lies on the ability to further enhance its profits from poultry integration business segment.

I believe the Company foresee huge demand for its processed chicken, if not the Company will not spend so much money on CAPEX to build a new poultry plant (which i believe the production lines should be more sophisticated to achieve better efficiency to boom the bottom line profits for poultry business segment.

See you at RM1.00 for mother share and 55 sen for its warrant. Patience is key to success.

Posted by SuperPanda > 2019-03-13 19:19 | Report Abuse

if your warrant price = today close price, plus the conversion price, your warrant is out of money

Posted by puntters > 2019-03-13 19:54 | Report Abuse

The warrants and the RCULS are separate securities and are traded separately.

Warrant = MFLOUR - WC
RCULS = MFLOUR - LA

Share price closed at 0.795
Warrant exercise price is RM0.68
Hence, the warrants is in the money

MFLOUR RCULS worth RM1 when convert based the conversion price of RM0.50, will receive two shares for free coz no need to pay.

1 RCULS (worth RM1.00) get 2 shares worth (0.795 x 2 = RM1.53). Hence, the RCULS is also in the money now.

We cannot combine the warrant exercise price and the RCULS conversion price to deem as out of money because both of these convertible securities have different features.