Posted by petracot > 2012-03-06 12:15 | Report Abuse

Once upon the time, Mieco was owned by the Multi-Purpose group. The company was the market leader in chipboard production. Mieco then was flushed with a pile of cash of more than RM150 million, paid dividend regularly and the share price hovered in the region of RM2+.

Somewhere along the timeline, Mieco came under the control of a Pakistani through the parent company, Bandaraya. The new owner emptied Mieco's coffer of RM150 million and borrowed another RM150 million to build a new plant.

Before the new plant could generate a cent of profit, the whole chipboard market went into storm with product prices falling and operating cost shooting the roof.

That spells the downfall of Mieco. The company has been struggling for the last 7 or 8 years and it remains a penny stock. Is there light at the end of the tunnel?

Posted by datuk > 2012-07-05 09:23 | Report Abuse

mieco.....lai liau.....

Posted by datuk > 2012-07-05 09:25 | Report Abuse

big boy is fishing by sell down......dun sell.....big news is coming out!!!!

Posted by datuk > 2012-07-05 09:40 | Report Abuse

mieco will retest rm0.53........

Posted by datuk > 2012-07-05 10:17 | Report Abuse

world class player in chipboard industry......under value ctr for explosive gain in the very near future

Posted by datuk > 2012-07-05 10:19 | Report Abuse

rumour.....bandaraya had got new investor fr china at rm.92/share...anybody heard the same news???

Posted by datuk > 2012-07-05 10:25 | Report Abuse

Yuzuki...ada dengar khabar angin ???

Posted by Yuzuki > 2012-07-05 10:30 | Report Abuse

morning datuk, saya no dengar khabar angin, all the best for mieco tuk ... i am busy with pos lol

Posted by datuk > 2012-07-05 10:41 | Report Abuse

bisa cari rezeki for LCL on poskah?h ehheheh

Posted by datuk > 2012-07-05 10:55 | Report Abuse

mieco is trying to erupt with price and volume build up quick solid!!!!

Posted by datuk > 2012-07-05 10:56 | Report Abuse

hopes dun puncut so fast as i yet to accumulate enough to make $$$ to spend together with FBB.....KIkIKIKI

Posted by datuk > 2012-07-05 15:03 | Report Abuse

mieco ! Mieco ! Mieco !

Posted by datuk > 2012-07-05 17:29 | Report Abuse

hopefully....2morrow mieco will be gaining further momentum

Posted by petracot > 2012-07-06 07:34 | Report Abuse

Judging from yesterday's volume and price movement, Looks like there is light at the end of the tunnel. Hopefully, it can break the near term resistance of 0.53 in the next few weeks.

Posted by datuk > 2012-07-06 08:19 | Report Abuse

petracot......we share the same hope...but my hope is slightly differ from yours....can break rm0.53 today..not in few weeks...hehehe

Posted by datuk > 2012-07-06 08:58 | Report Abuse

mieco ! mieco ! Mieco !

Posted by datuk > 2012-07-09 09:45 | Report Abuse

interesting trade pattern today.....someone is trying to press down the price for accumulation......dun sell....let them syok sendiri!!!!

Posted by petracot > 2012-07-10 12:23 | Report Abuse

A turn-around story could be in the making. The company restarted the operation of the second new plant last year, which was shut down for two years because of falling market. However, the profit margin of chipboard is thin due to the rising costs of two main input components- resin and rubber wood. To be prudent, monitor the quarterly results before any trading action is taken.

Posted by datuk > 2012-07-10 16:38 | Report Abuse

petracot....i agreed your pro opinion and supported by raise both of my hands.... and legs as well....hehehehe

Posted by datuk > 2012-07-11 08:59 | Report Abuse

MIECO....lai liau !!!!

Posted by petracot > 2012-07-11 21:10 | Report Abuse

Everyone playing MIECO has to be patient. When the rally comes, it will come in quite a big way. Mieco is a big brand name for Malaysian chipboard. Its two factories are worth something like RM700 million. After deducting debts of around RM200 million, net asset is still worth about RM500 million or RM2.40 per share. Currently, the share is selling for only 45 sen!

Posted by datuk > 2012-07-12 09:48 | Report Abuse

wow Petracot.......beh tahan to see your analysis....are u Hainam rang??? Mieco MD also a Hailam rang...hehehehe

Posted by datuk > 2012-07-13 09:14 | Report Abuse

mieco.....counter to watch !!!

Posted by petracot > 2012-07-13 12:23 | Report Abuse

When we analyse MIECO, we must look beyond the current business model. Basically, the Pakistani substantial shareholder is not really interested in this chipboard business; that could be part of the reason the company is not progressing well. Some years ago, they tried to distribute MIECO shares among Bandaraya shreholders because MIECO is a subsidiary of Bandaraya. However, the exercise was blocked by the rest of Bandaraya shareholders including EPF and a few foreign institutional fund managers, who held substantial stakes. Subsequent to that, they tried to sell the the controlling stake to others; the deal did not materialise, probably the price did not meet their expectation. Bandaraya is always on the look out for potential buyers to take over MIECO at the right price, including investors from China. From the perspective of outright sale of MIECO, one must consider the net asset backing of MIECO, which is way above the current share price of 45 sen.

Posted by datuk > 2012-07-16 10:28 | Report Abuse

mieco lai liew

Posted by datuk > 2012-07-16 10:30 | Report Abuse

rumour in the market.....another public listed compsny in the industry to offer rm0.92 for M&A

Posted by petracot > 2012-07-16 10:33 | Report Abuse

Fundamentals aside, share price of MIECO is inching up and volume is picking up quite nicely. If the momentum can be sustained, the next target price as well as the next resistance level is 53 sen.

Posted by datuk > 2012-07-16 10:36 | Report Abuse

Hope..could break that level....and i will acquire further as i think it's still very cheap from valuation point of view.

Posted by datuk > 2012-07-16 10:40 | Report Abuse

I think the cost pressure of resin glue will be ease with the petrol came down below us90/barrel; augur well for the margin....hope mieco can earn rm0.06/share in this financial year.

Posted by datuk > 2012-07-16 11:25 | Report Abuse

mieco ! mieco ! come on,,,,,

Posted by dick yap > 2012-07-16 11:27 | Report Abuse

forget about this counter lah... don't waste your time and monies...there are many better counters out there.....

Posted by datuk > 2012-07-16 11:30 | Report Abuse

any recommedation?

Posted by datuk > 2012-07-16 12:24 | Report Abuse

dick....are u really a dick????can't even have balls to recommend?

Posted by KC Loh > 2012-07-16 12:33 | Report Abuse

Datuk, don't have to make everyone's negative remark against your bets a personal attack against you. "Play the game, not the player! " should be the motto here.

Posted by datuk > 2012-07-16 12:40 | Report Abuse

KC LOh...OK......he shouldn't comment meico is not good investment....otherwise recommend alternative stock for consideration. If dun want to do that...dun comment bliandly. NO value added.

Posted by KC Loh > 2012-07-16 12:51 | Report Abuse

you have a point! good luck on your meico investment!

Posted by Namoyaki Takarajima > 2012-07-16 12:51 | Report Abuse

ayyya datuk, don't la, it's open market maa... Open-open also you like what... i like open-open too.. wahhh.. you Meico very loving-loving one arr, verry couple-couple one.

Posted by datuk > 2012-07-16 12:57 | Report Abuse

invest mieco a bit only 200K units only....hope to cari kopi luilor

Posted by jester > 2012-07-16 12:57 | Report Abuse

*popcorn time*

Posted by Namoyaki Takarajima > 2012-07-16 14:40 | Report Abuse

datuk, looking back at the tread and as per yr previous comments; "PASSION" is the key for your No.1 list of attitude. Treat your counter like your girlfriend/boyfriend/loved one, indeed, if anybody disturb my loved one i'll boxed them! Hehehehee...
P.S: KC, you have to forgive Datuk, he is 'about' at the stage of menopause already ler..

Posted by datuk > 2012-07-16 14:49 | Report Abuse

yep....Namoyaki....do share yr point

Posted by datuk > 2012-07-16 14:55 | Report Abuse

AS the old saying goes....fearful when the greedy dominant the market...

Posted by KC Loh > 2012-07-16 14:59 | Report Abuse

menopause or puberty? LoL!!!

Posted by datuk > 2012-07-16 15:10 | Report Abuse

menopause....as an act of respect to all women ....dun use this word ...ok....

Posted by Namoyaki Takarajima > 2012-07-16 15:17 | Report Abuse

datuk, speaker of the NGO! i support WABA. :)

Posted by datuk > 2012-07-16 15:19 | Report Abuse

AS the old saying goes.....act carefully if yr wealth portfolio is skew toward equity......market is due for big correction.....

Posted by datuk > 2012-07-16 15:22 | Report Abuse

as the old saying goes....enjoy the tranquility of "stillness" when you have done yr balancing act.....

Posted by datuk > 2012-07-16 15:24 | Report Abuse

Think big !!! think about the macro pictures both domestic and internationally.....explore the possibile scenario and relate to the most likely one......balance is the theme of the year!!!

Posted by datuk > 2012-07-16 15:26 | Report Abuse

Neither to time the market and ignore it completely are the wiser behaviour!!! Ponder ! Ponder ! Ponder!

Posted by datuk > 2012-07-16 15:30 | Report Abuse

Time is due for my 2 months holiday to China & Russia. Bye Bye