sold.. better cabut first.. recently oil and rm strengthening.. not good for furniture and particle board company.. even the strong peer like evergreen and hevea drop non stop..
MarketWatcher if RM vs USD can go bck to 3.60 then really bad news for furniture n board industri.If still above 4.00 then Everything is fine n profitable.
but the profit taking wind is still strong in furniture stocks. besides, if compare co vs co, evergreen revenue, profit and fundamental so much stronger than mieco, currently at 1.25
look at PE ..mieco is under 10 .if this coming QR result good then PE wil lower again .tht means price is cheap.NTA oso higher than share price mean abit undervalued.
ermm... i don't really agree with the pe as it includes disposal of a factory. anyway, i chose to protect my profit esp in a market volatile like this. good luck.
Ilovemarket, do remember that Mieco was announced that it is disposing its forest management subsidiary for RM35 mil, cash. Close to half of Mieco debt is in BA. You should see Mieco cash cycle instead merely interpret from high receivable. This is the calculation based on my company management efficiency spread sheet, Mieco cash cycle is only 29 days compare to Hevea, 70.5 days!
MIECO (Not Rated). MIECO has been on a downtrend trajectory since reaching a high level of RM1.34 back in 19-November 2015. Riding on the recent hype over rally in chipboard makers, MIECO had started to garnered investors interest as it rose 6.0 sen (+6.56%) to break out from its downtrend resistance trend line at RM0.975 on the back of strong trading volume. MACD had also broken away from its downtrend resistance to conduct a bullish convergence, while RSI and Stochastic had also hooked up to trace out a buy signal on the stock. Shall follow through buying occurs, the share price is expected to climb further up towards RM1.00 (R1) before retesting the RM1.13 (R2) level in the nearterm. Immediate support could be seen at RM0.90 (S1) followed by RM0.80 (S2).
MIECO (Not Rated). MIECO has been on a downtrend trajectory since reaching a high level of RM1.34 back in 19-November 2015. Riding on the recent hype over rally in chipboard makers, MIECO had started to garnered investors interest as it rose 6.0 sen (+6.56%) to break out from its downtrend resistance trend line at RM0.975 on the back of strong trading volume. MACD had also broken away from its downtrend resistance to conduct a bullish convergence, while RSI and Stochastic had also hooked up to trace out a buy signal on the stock. Shall follow through buying occurs, the share price is expected to climb further up towards RM1.00 (R1) before retesting the RM1.13 (R2) level in the nearterm. Immediate support could be seen at RM0.90 (S1) followed by RM0.80 (S2).
when something is brewing, people come and bad mouth the counter hoping that it bring fear to panic emotional investors. If you'd invested, stay invested. Don't let moron's control over your emotional status
@bracoli - No one can predict Mieco's result, unless you are an employee of the company. But if, "IF" share price is of any indication, the recent surge of Mieco should provide you some hint? Not sure, at your own risk.
Despite a stronger fourth quarter revenue, the Group registered a lower pre-tax profit of RM2.5 million when compared to RM15.4 million a year ago, mainly due to a RM16.1 million gain on disposal of land and buildings in Semambu, Pahang upon completion of sale in November 2014. The fourth quarter of 2015 saw increased selling prices as well as higher sale volume whilst raw material costs particularly for wood and diesel, were lower.
Year on year review For the full-year 2015, the Group recorded revenue of RM355.0 million, up 3% against RM344.8 million in 2014 reflecting increased plainboard selling prices and focus on value-added products. The Group achieved a pre-tax profit of RM18.7 million against RM19.4 million in 2014. The strong operational performance in 2015 was derived from higher plainboard selling prices and increased sales of value-added products, helped by lower wood and diesel prices.
Profit is not really down - it's normalization as last year Q4 is one-off gain. (RM16.1 million gain on disposal of land and buildings in Semambu, Pahang). Otherwise, last year would be a loss quarter, compared to this year is profit making. Current PE stands at 10.70. Okay lah, fair value.
Turnaround takes time mah. Try and check what kind of Balance Sheet Hevea has when it started to turnaround from the bottom? If you're not happy, there's 900++ other counters in KLSE. Why complain so much?
Current PE: Mieco: 10.7 Latitude: 6.7 Liihen: 8.2 Poh Huat : 9 If based on Poh Huat pe, Mieco will drop another 19%. Take note: Poh Huat with better FA than Mieco. So u can think yourselves what valuation you will give Mieco?
@lux88 - your argument is invalid. Pohuat, Mieco, Latitude is NOT PRODUCING THE SAME PRODUCTS AND SAME FIELD. Please do you research before whacking blindly, thank you.
lux88, if like that, Liihen and Pohuat also need to drop a lot to fullfill latitude PE 6.7. and also Homeriz also need to drop a lot.....T_T.....all stock need to refer to the lowest PE in same industry.
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Posted by MarketWatcher > 2016-02-23 15:15 | Report Abuse
sold.. better cabut first.. recently oil and rm strengthening.. not good for furniture and particle board company.. even the strong peer like evergreen and hevea drop non stop..