Posted by Lim NK > 2018-10-23 12:18 | Report Abuse

This Melewar also eat shit, since right issue drop to this level

Posted by Roman Lee > 2018-10-31 19:55 | Report Abuse

very unlucky to buy this type of company. shit

Posted by saburo11 > 2018-11-07 10:39 | Report Abuse

HOPE WILL REBOUND AFTER HIT ALL TIME LOW..MAJOR SHAREHOLDER SURE TIDO..LOUSY MANAGEMENT..

Posted by value88 > 2018-11-27 19:56 | Report Abuse

In this quarter, Melewar actually registered positive PBT of RM1.1mil. BUT, the tax expenses was RM2mil (190% tax rate !). Resulting, Melewar again showed loss in PATAMI and EPS.

Why the tax expenses was charged so high..? I think the management somehow want to show negative results.

Posted by value88 > 2018-11-27 19:57 | Report Abuse

Melewar no doubt is a badly managed company, but its P/BV is so low and makes it attractive.

Posted by commonsense > 2019-01-23 12:29 | Report Abuse

Hi value88,

The high tax rate in the previous quarter was mainly due to taxes imposed on the profitable business (Steel Tubes) which recorded a PBT of around RM10.6mil. The losses from the other businesses could not be used to reduce the PBT of the profitable business hence why the company still need to pay a big tax amount when compared to the accumulative results of all Melewar businesses.

I think the company will continue to make further losses in FY19 given the cheap steel import (especially China CRC) that is currently flooding the market. With lower demand due to the slowdown of the construction and property industry, all local steel player will need to lower their price of product (at the expense of margins) in order to survive. The only way for this negative trend to turnaround and improve the company’s profit level is if MITI would step in and impose further safeguards measure. Till then, expect Melewar to continuously record negative (or low profit) in the near future.

If you are looking to diversify your portfolio outside of Melewar (due to its earnings uncertainties) I would recommend you to look at MBMR.

MBMR is a direct proxy to Perodua via its 22.6% interest in the company. Valuation is cheap at only 6.9x PE (based on target FY18 profit of RM145mil. 9m profit is already RM106mil). PB is low at only 0.7x BV. 4Q18 results is expected to be higher than 3Q18 and last year's 4Q17.

For FY19 growth will be driven by the still high demand of new Myvi and the newly launched SUV Aruz and also the newly revamp Alza in 2H19. I am projecting a profit to shareholder of RM160 mil for FY19 which at the current price values MBMR at only 6.2x PE.

Please go through the analyst reports (https://klse.i3investor.com/servlets/stk/pt/5983.jsp) and do your own analysis before making any decisions. There are 8 analysts in total covering the stock with most of them having a TP of above RM3 (all have a buy rating). The average TP for the 8 analyst is around RM3.50.

Good luck.

Posted by Mudamuda Remaja Mudamuda > 2019-02-28 12:03 | Report Abuse

Yes_sssssss

Posted by aris743 > 2019-04-08 12:35 | Report Abuse

hope today move 16

Posted by Octopus > 2019-04-08 14:34 | Report Abuse

this can keep at this price..

Posted by aris743 > 2019-04-09 15:08 | Report Abuse

ready to move up up

Posted by aris743 > 2019-04-09 15:37 | Report Abuse

go go melewar

Posted by saburo11 > 2019-04-09 16:45 | Report Abuse

fuhh..steel theme..tomorrow continue..

Posted by aris743 > 2019-04-09 21:13 | Report Abuse

hope so. tomoro 18c

Posted by aris743 > 2019-04-10 11:38 | Report Abuse

steel move. up up msteel = melewar

Posted by legend > 2019-04-10 16:19 | Report Abuse

wowwww

Posted by abc333 > 2019-04-10 17:01 | Report Abuse

big show coming 0.3

Posted by cicakman > 2019-04-10 17:24 | Report Abuse

Price moving up slowly with volume.New buying interest and very positive indications.

Posted by aris743 > 2019-04-10 21:14 | Report Abuse

tomoro meet 19.5c

Posted by legend > 2019-04-11 07:16 | Report Abuse

today will break 0.20

Posted by legend > 2019-04-11 09:03 | Report Abuse

go Melewar...

Posted by aris743 > 2019-04-11 10:18 | Report Abuse

go go up up

Posted by legend > 2019-04-11 11:23 | Report Abuse

buy...buy...buy...

Posted by aris743 > 2019-04-12 07:43 | Report Abuse

rest today

Posted by legend > 2019-04-12 14:57 | Report Abuse

buy... before take off

Posted by legend > 2019-04-18 16:41 | Report Abuse

buy..buy..buy

Posted by legend > 2019-04-19 14:36 | Report Abuse

ready to take off

Posted by lextcs > 2019-04-19 14:42 | Report Abuse

take of to bamboo river ka? bring along boss ku plz … what so shy about it?

Posted by legend > 2019-04-19 15:05 | Report Abuse

Bye...bye!

Posted by lextcs > 2019-04-19 15:08 | Report Abuse

proton saga type F (Flying spec) taking off...

Posted by lextcs > 2019-04-19 15:17 | Report Abuse

still on drawing boards leh...very hard to take off

Posted by lextcs > 2019-04-19 15:17 | Report Abuse

how about jerk off?

Posted by lextcs > 2019-04-19 15:20 | Report Abuse

wah...betul one...car got wheels...errrr sorry car got wings...

Posted by lextcs > 2019-04-19 15:38 | Report Abuse

cannot fly now parking only @ 17 still no takers

Posted by legend > 2019-04-19 16:09 | Report Abuse

Buy more..

Posted by Ivan89 > 2019-04-25 00:10 | Report Abuse

Chart look very nice

Posted by Remaja Saham > 2019-04-25 09:29 | Report Abuse

will push price higher isn't?

Posted by Ivan89 > 2019-04-25 12:20 | Report Abuse

Melewar will be the next lafmsia/tasek?

Posted by VenFx > 2019-04-25 12:35 |

Post removed.Why?

Posted by Remaja Saham > 2019-04-25 16:44 | Report Abuse

serius laa the next LAFMSIA?? dahsyat sngt tu...huhuhu...aik target 0.2 jee

Posted by VenFx > 2019-05-28 17:55 | Report Abuse

1 step closer to megan media step foot.

Posted by rsim03 > 2019-08-03 22:06 | Report Abuse

hongah...

Posted by No right Nor wrong Only to Win > 2019-08-29 18:27 | Report Abuse

wah lau , dead cat bouce ?

Qtr painted in green !
plan your exit yaa !

Posted by rsim03 > 2019-08-29 22:30 | Report Abuse

Tomorrow sure Gap Up wisely

Posted by Lim NK > 2019-08-30 09:33 | Report Abuse

Finally moving

Posted by No right Nor wrong Only to Win > 2019-08-30 10:32 | Report Abuse

Thus is not moving
Only dead cat bounce

0.145
0.170
The 2 point escape level.

Posted by jamesooi > 2019-08-30 11:49 | Report Abuse

Just turn up bull, why sell

Posted by No right Nor wrong Only to Win > 2019-08-30 11:53 | Report Abuse

Core biz rugi
This green qtr becoz its write back .

If, one keen on steel tube
Cscstel ofer much better and stronger foothold.

Posted by No right Nor wrong Only to Win > 2019-08-30 11:55 | Report Abuse

I dont have faith in their management at all.
Shud fire the project manager 3years ago.

Posted by No right Nor wrong Only to Win > 2019-08-30 11:56 | Report Abuse

Management employ Incompetent engineer and risk our hard earned money.

Posted by aris743 > 2019-09-02 09:49 | Report Abuse

will move uptrend