My opinion on below Jan1 still stand. Cut loss if drop below 91.5 this week on prolong pressure.
Stock: [MIECO]: MIECO CHIPBOARD BHD Jan 1, 2016 06:31 PM | Report Abuse
Nobody can tell from the the chart. But on the logical side the results being in Feb my suspicion is collection if happen will start end of Jan or early Feb. So chances are it will drop fr now till then
Stock: [MIECO]: MIECO CHIPBOARD BHD Jan 1, 2016 06:10 PM | Report Abuse
Mieco at the edge. 1.05 and 1.03 are very near support. This will mean dropping below the 2 support may be devastating plunge to 99. Very key to stay above. We are sure of one thing, the already hv forex gain in the export exchange
I believe Mieco is undervalued at this price. Let us look back at some of the company's simple fundamentals:
This is not a buy/sell call, buy/sell at your OWN risk. This is merely a reflection of fundamentals.
- Mieco is a beneficiary of low crude oil price and USD forex gain. - With the First Phase of relocation of the Mieco's Semambu plant should already be completed by year end 2015 according to the management, more production output should be possible (?) - Company's borrowings are all denominated in MYR, except for 11.494 mil USD term loan (out of 89,438 mil borrowings). - Deleveraging, like Hevea, Mieco is deleveraging rapidly. Once the borrowing are reduced enough, they are able to trim down the finance cost even further. - "BDRB" Bandaraya Development Sdn Bhd, acquired Mieco back in 2012, and holds 56% of Mieco's shares. Is there a possibility of synergy between BDRB and Mieco? Mieco may be able to supply fibreboard for BDRB's property (?) - Mieco's NTA is 1.38. Current price is only 0.94.
Please rectify me if there's any mistake, thank you.
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MQ Trader 3224 views | 3 d ago
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BrotherLove
31 posts
Posted by BrotherLove > 2016-01-15 08:10 | Report Abuse
Today fly, stars aligned....oil rebound, US market bullish