Posted by InvestorKING > 2018-08-16 19:51 | Report Abuse

Actually Mieco current fair value is at 0.75. The price had dropped from 1.20 to 0.39 previously.

Posted by MoneyFace88 > 2018-08-25 09:25 | Report Abuse

Company has to show profit for price to move up, hope coming quarter Ah Chai can show us the money.

Posted by Learner One > 2018-08-25 10:13 | Report Abuse

Mieco oversold. Evergreen made good profit.

Posted by MoneyFace88 > 2018-08-27 18:58 | Report Abuse

QR not out yet ?

Posted by bonbon > 2018-08-28 09:36 | Report Abuse

In this market sentiment even good result also no use. You see, evergreen's result not bad, but it drops too.

Posted by khpwwl > 2018-08-28 09:56 | Report Abuse

ask our TM lah… all construction counter are drop

Posted by jordanmaggie61 > 2018-08-28 10:04 | Report Abuse

Wow! the stock price is rising, profit increasing also kikiki

Posted by bonbon > 2018-08-28 10:22 | Report Abuse

I guess its result won't be good. Anyway, all the best to those who are buying this.

Posted by Yael Jasper > 2018-08-28 10:42 | Report Abuse

Never regret for buying this stock, profit is real

Posted by Yael Jasper > 2018-08-28 10:43 | Report Abuse

Wow! earn more again! good stock, i have earned a lot to pay my bills.

Posted by bonbon > 2018-08-30 09:41 | Report Abuse

Terrible result...

Posted by kuhen1 > 2018-08-30 12:56 | Report Abuse

Disaster is kicking in i suppose. Should have got MYEG when it was dead low :(

Posted by targetinvest > 2018-11-01 10:06 | Report Abuse

Mieco roaring back into action..

Posted by targetinvest > 2018-11-01 10:06 | Report Abuse

Good to scope

Posted by Sanatan > 2018-11-02 08:54 | Report Abuse

Mieco to continue roaring back into action !

Posted by bottomtrawler > 2018-11-21 17:20 | Report Abuse

sure anot

Posted by Adrian Tiong Meng Wei > 2018-11-21 17:28 | Report Abuse

Still lost quarter even with highest revenue..sell sell sell

Posted by organic > 2018-12-01 08:23 | Report Abuse

what happed this counter? keep drop?

Posted by commonsense > 2018-12-07 10:41 | Report Abuse

Hi organic,

Financially the company did not perform that well in the past 2 quarters. I think some investors was hoping for a boost in the profit level upon completion of the acquisition of Great Platform back in February. Based on the documents provided, Great platform recorded a revenue of RM53.5mil and PAT of RM4.1mil for the period of Aug16 to Apr17 (9 months). This translated to an average rev of RM18mil and PAT of RM1.4mil per quarter. Mieco paid RM58.6mil for the company.

However, the most recent quarter indicates that while the acquisition had help increase the company total revenue by 27%, it failed to increase the profit and worst they actually recorded losses. EBITDA margin fell from a high of 21% last year to only 4% in 3Q18. The acquisition of Great Platform had also increase the depreciation charges (from RM4.4mil to now RM7.3mil) and finance cost (from only RM1mil to RM4.4 mil) substantially. This resulted in the company posting a loss of RM6.8mil vs profit of RM15.6mil.

If you are interested in the company, it would be better for you to wait for the next quarter result to come out. Currently we are still not sure whether the bad performance in 3Q18 is permanent (the low profit margin is here to stay) or if the result is just a one off event.

If you are already invested in the company, you need to be prepare to face some volatility as some investors might be a bit worried of the future financial results. It would be advisable for you to diversify your portfolio first. I think there are still some furniture/ particle board manufacturers that are currently still profitable and trading at a not so high valuation.

If you are looking to divest your portfolio outside of the furniture industry, i would recommend them to look at MBMR.

The company is a direct proxy to Perodua via its 22.6% interest in the company. Valuation is cheap at only 5.9x PE (based on target FY18 PATAMI of RM145mil. 9m PATAMI is already RM106mil). PB is low at only 0.6x BV. 4Q18 results is expected to be higher than 3Q18 and last year's 4Q17. And FY19 growth will be driven by the still high demand of new Myvi and the launch of the new SUV in 1Q19.

Please go through the analyst reports (https://klse.i3investor.com/servlets/stk/pt/5983.jsp) and do your own analysis before making any decisions.

Hope Mieco will start posting better results in 4Q18. I think some investors got burnt investing in the company when it was trading at above RM1. With better results, hope the company share price can recover back.

Good luck

Posted by organic > 2018-12-08 11:13 | Report Abuse

commonsense, ya some investing in price RM1 sure worried the company going on. me just in 0.34 100Lot for invest. any command to keep or force to sell. TQ

Posted by commonsense > 2018-12-10 08:36 | Report Abuse

Hi Organic,

I think you need to reassess back your position. When you bought the shares at 34 sens what was the reason? Does your thesis still stands? I think you most probably have bought it before the 2Q18 result was announce.

If you go through the note of 2Q18, the losses for the quarter was mainly due to gross margin compression attributed to soft selling price of the companies product, higher cost of materials and also a pre operating cost of the new line.

I think you should only hold to the stock if you believe that the profit margin can improve back to FY17 level in 3Q18. Because if it doesn't and it still post a loss in 3Q, i think some investors might decide to shift their position to other companies.

I personally think their operational profit margin will still remain compressed (at least for next quarter). In addition, the bottom line will also be effected by the higher depreciation and finance cost (due to the acquisition of Great Platform).

Good luck.

Posted by organic > 2018-12-13 17:00 | Report Abuse

tq,. commonsence.

Posted by organic > 2018-12-18 16:32 | Report Abuse

keep drop....

Posted by speculative > 2019-01-10 12:47 | Report Abuse

Please watch this counter.. will boom soon..

Posted by speculative > 2019-01-11 10:19 | Report Abuse

Haha.. today just start engine.. vroom22

Posted by OngOngMou > 2019-02-14 15:28 | Report Abuse

the giant is awake soon... dudududu

Posted by targetinvest > 2019-02-21 15:48 | Report Abuse

Property fast fast sell out then will need furniture and need wood and need their timber..
So short term should be good for mieco

Posted by targetinvest > 2019-02-21 16:11 | Report Abuse

Parking here for further monitoring

Posted by targetinvest > 2019-02-21 16:33 | Report Abuse

Property sudah goreng
Construction sudah goreng
Metal/steel sudah goreng sikit
Oil and Gas sudah goreng sampai langit up down left right
Plantation sudah balik
IT stock pun sudah balik...

The only one is???

TIMBER stock belum ada movement...

Posted by targetinvest > 2019-02-21 18:05 | Report Abuse

Avengers... assemble... here is the place !!!

Posted by keyin > 2019-02-25 23:25 | Report Abuse

Ikea come, all timber and wood holland

Posted by targetinvest > 2019-02-26 08:42 | Report Abuse

Ikea no nid use wood one ah?

Use... plastic?

Posted by targetinvest > 2019-02-26 09:01 | Report Abuse

Come and support goreng kayu sikit
https://klse.i3investor.com/blogs/targetinvest/195028.jsp

Posted by targetinvest > 2019-02-26 09:01 | Report Abuse

janji ada pattern nice nice ada fire goreng

Posted by targetinvest > 2019-02-26 09:04 | Report Abuse

Break out and become 34 35 let's go

Break break break

Posted by targetinvest > 2019-02-26 11:02 | Report Abuse

market no ngam to break... :( :( :(

Posted by targetinvest > 2019-02-26 18:47 | Report Abuse

Result also very tiaooo

Posted by nich0las > 2019-02-26 18:49 | Report Abuse

wahaha...... cipet company

Posted by kasinathan > 2019-02-26 19:00 | Report Abuse

Red ocean company in the red ocean industry... The outcome is to retest 24 cents..... Soon after sinking in the red ocean... Below 15 cents... Struggling until 2021...

Posted by targetinvest > 2019-02-26 19:43 | Report Abuse

Ok la kasinathan u r the best la..

Now wood is crap.. so wad is good ?

Posted by targetinvest > 2019-02-26 19:43 | Report Abuse

Go back to bug my johotin la

Posted by husky88 > 2019-02-26 22:14 | Report Abuse

Mission failed

Posted by sukagtl > 2019-02-27 12:56 | Report Abuse

ayo.. quaterly result koyak rabak ma..

Posted by tnang > 2019-03-07 11:36 | Report Abuse

lai lai lai, up up up

Posted by moneykj > 2019-03-14 14:29 | Report Abuse

Lai lai Redtone now. 0.275 cheap cheap.
Johor Sultan team up with VT to goreng. Results play still have 50% upside. If they put in Umobile for backdoor listing play, sky is the limit.

Posted by spectre007 > 2019-04-02 18:02 | Report Abuse

Coming soon

Posted by dompeilee > 2019-04-10 09:42 | Report Abuse

Bought some Mieco @ 28c

Posted by tnang > 2019-04-25 10:12 | Report Abuse

buy meico, cheap cheap

Posted by kasinathan > 2019-06-04 10:18 | Report Abuse

Next quarter will licurred big loss and my estimation at Rm11 million judging from 2 months performance ended may31

Posted by kasinathan > 2019-06-04 10:18 | Report Abuse

Rm0. 2 is coming