MAYBULK BERHAD

KLSE (MYR): MAYBULK (5077)

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Last Price

0.325

Today's Change

-0.005 (1.52%)

Day's Change

0.32 - 0.33

Trading Volume

1,089,700


9 people like this.

5,722 comment(s). Last comment by dompeilee 3 days ago

Posted by bullrun2025 > 2023-08-11 16:20 | Report Abuse

@hng, what is the fair price for maybulk

Posted by bullrun2025 > 2023-08-11 19:30 | Report Abuse

Thank You hng33

Posted by bullrun2025 > 2023-08-14 16:54 | Report Abuse

@hng33
*Shelving and storage solutions* The demand for shelving and storage solutions is expected to slow down due to festive season at the beginning of Q2 2023 and will likely weaken further on the back of slowing global economic outlook coupled with higher interest and inflation rate that pose significant growth headwinds. Businesses will lower their stock levels and slow down expansion projects. Accordingly, the S&P Global Malaysia Manufacturing Purchasing Managers Index (PMI) at 48.8 in April 2023 indicated challenging business conditions and demand remained subdued, pressuring firms to limit production and scale back their purchasing activities.

Posted by bullrun2025 > 2023-08-17 09:24 | Report Abuse

@hng33, when you going to sell Maybulk?

hng33

19,749 posts

Posted by hng33 > 2023-08-29 10:36 | Report Abuse

dividend coming

Posted by bullrun2025 > 2023-08-29 11:19 | Report Abuse

@hng33 what is your average price??

Posted by Lightofheaven > 2023-08-29 11:53 | Report Abuse

what a come back..Maybulk fly fly

xiaoeh

1,415 posts

Posted by xiaoeh > 2023-08-29 12:00 | Report Abuse

Hi may i know what is the main core business now ha for Maybulk ever since new investor came in last 2 years?

Posted by bullrun2025 > 2023-08-29 12:06 | Report Abuse

Director korek wang business

Posted by Lightofheaven > 2023-08-29 17:18 | Report Abuse

i like maybulk

Posted by bullrun2025 > 2023-08-30 08:20 | Report Abuse

@hng33, no news on interim dividend yet

skyjet

470 posts

Posted by skyjet > 2023-08-30 09:08 | Report Abuse

Bought maybulk at 0.32. The worst is over. Second half quarter result will be better.

skyjet

470 posts

Posted by skyjet > 2023-08-30 09:12 | Report Abuse

Bought 0.315 and 0.32.

skyjet

470 posts

Posted by skyjet > 2023-08-30 09:14 | Report Abuse

Prospect got mention "Overall, a better performance is expected in the third quarter compared to the previous two quarters"

hng33

19,749 posts

Posted by hng33 > 2023-08-30 09:22 | Report Abuse

added more at 31.5sen

dompeilee

11,888 posts

Posted by dompeilee > 2023-08-30 10:07 | Report Abuse

Averaged down @ 31.5c, bringing my holdings to 113,000 shrs.

Posted by bullrun2025 > 2023-08-30 10:45 | Report Abuse

anyone queue buy at 32c now

skyjet

470 posts

Posted by skyjet > 2023-08-30 11:56 | Report Abuse

Go back 0.35 today

Posted by bullrun2025 > 2023-08-30 20:07 | Report Abuse

No more nett cash position after the industrial land investment

Posted by bullrun2025 > 2023-09-01 09:24 | Report Abuse

Maybulk no power at all

Posted by PennyStock123 > 2023-09-04 07:49 | Report Abuse

29 Aug 2023........1H net profit 3.824 million (decreased 94.50%)

Pek79

31 posts

Posted by Pek79 > 2023-09-04 09:54 | Report Abuse

propose to change name to "Maybulk Berhad" from "Malaysia Bulk Carriers Berhad"

what is the purpose on this move?

Posted by bullrun2025 > 2023-09-04 15:25 | Report Abuse

they change their business model

dompeilee

11,888 posts

Posted by dompeilee > 2023-09-06 09:11 | Report Abuse

Maybulk secures 140mil sale of 5-yr-old Kamsarmax vessel for a 2.6c profit per shr to Japanese co.

Posted by bullrun2025 > 2023-09-06 09:14 | Report Abuse

@dompeilee, any expected special dividend declared to our shareholders??

dompeilee

11,888 posts

Posted by dompeilee > 2023-09-06 09:17 | Report Abuse

Doubt it...1.5c is enough...I will collect assiduously until I hopefully reach 200,000 shrs b4 the ex-divvy date.

Posted by bullrun2025 > 2023-09-06 09:28 | Report Abuse

what is your long term target price for maybulk

Posted by PennyStock123 > 2023-09-06 09:33 | Report Abuse

change name for good Feng Shui

dompeilee

11,888 posts

Posted by dompeilee > 2023-09-06 16:00 | Report Abuse

Too soon to set tgt...bought more @ 32 & 32.5c, bringing my stake to 118,800 shrs.

Posted by FinanceInRealLife > 2023-09-12 20:03 | Report Abuse

lots of changes are happening in Maybulk!

Posted by FinanceInRealLife > 2023-09-12 20:03 | Report Abuse

we helped summarize it here: https://www.youtube.com/watch?v=qn17EgxEkoY

Posted by PennyStock123 > 2023-09-20 00:24 | Report Abuse

company with no debt.....cash rich....

VincentTang

1,036 posts

Posted by VincentTang > 2023-10-17 10:57 | Report Abuse

Baltic dry index at 1 year high. Bought Maybulk.
https://www.tradingview.com/symbols/INDEX-BDI/

xiaoeh

1,415 posts

Posted by xiaoeh > 2023-10-31 09:19 | Report Abuse

Vincent, is BDI still relevant to Maybulk?

dompeilee

11,888 posts

Posted by dompeilee > 2023-11-07 17:03 | Report Abuse

Bought MORE @ 32c, crossing 130k shares for the first time ever...they SOLD almost all their ships at the peak of the bulk carrier market, and now I'm gonna raid their kitty for the cash from those sales while waiting for the price to rise back above breakeven, which it most definitely will! Ganbatte Teraoka, Sekonic & Nishishiba!!!🤗

xiaoeh

1,415 posts

Posted by xiaoeh > 2023-11-07 18:32 | Report Abuse

Any development news?

dompeilee

11,888 posts

Posted by dompeilee > 2023-11-09 09:56 | Report Abuse

Re-deployed the capital released by 7-dividend-earning PBA & 5-dividend earning KPS into more of an investment that will give me yet another bumper dividend, this time well before Christmas!🤗

newbie9893

1,813 posts

Posted by newbie9893 > 2 months ago | Report Abuse

buy call... Transportation & Logistics will be the next theme to play..trust me

Posted by DividendGuy67 > 1 month ago | Report Abuse

Pity. This company is no longer the same company as it was 10-18 years ago.
Last annual report showed it only has 3 vessels left. Customer concentration risks are high.
Market cap is only RM305 million - a small company, no longer a shade of what it was 10-18 years ago.

Last Balance sheet showed 19+ sen cash. NTA 52 sen. Trading at 30.5 sen, so, undervalued by P/NTA basis and interesting.
However, business appears fairly valued (?). My estimate of 1 year EPS is around 1.2 sen. Excluding cash, the business is available for sale at 30.5 sen - 19 sen = 11.5 sen i.e. P/E of < 10, which is very fair for the future earnings from the 3 vessels.
Total cash is around 190 million + meaning they can't scale / grow their business in the future - if they use the entire 190 million to buy 2-3 vessels, that cash is gone.
If they pay out the 190 million + cash as dividends, market is going to drop down ex-div. We already seen that market is pricing fairly - on the last ex-div date, price fell 1.5 sen, exactly equal to the dividend paid out. At this juncture, this is now a penny stock with little upside / downside prospect.

It's not clear to me what happened to MAYBULK. I haven't monitored for over a decade and suddenly noticed this business is nothing like the business that it was 10-18 years ago. It looks to me this company is now ceasing / substantially reducing market's interest.

If you are a Book Value investor and are very patient, perhaps accumulating at low prices and hoping for a price spike to sell out may work out, but this can test even the most patient investors. Keep such plays a small % of one's capital.

For me, my rule is that the dividends must be funded by a % of earnings. If EPS is 1.2 sen and DPS is 1 sen, that's 3.3% of 30 sen price which is similar to FD rates and doesn't beat EPF, so, I'll pass. Sure, I'll grant that MAYBULK might use some of its cash to enhance the DPS to be larger than 1 sen, however, it will reduce its cash and limits its future ability to grow its fleets i.e. the more cash it distributes as dividends, the less chance it can grow its business in the future.

Just documenting my thoughts here for my own future reference to remind me to pass this trade.

newbie9893

1,813 posts

Posted by newbie9893 > 1 month ago | Report Abuse

buy call.............time to fly..

hng33

19,749 posts

Posted by hng33 > 1 month ago | Report Abuse

sold at 33.5sen

Posted by knchan2001 > 1 month ago | Report Abuse

Maybulk is my 4th Gem

History of Maybulk
2Ys & Goh bot fr Robert Kuok, while stock @ 0.54 in 2022 April.
2Ys sold to Goh @0.425 a year after.

Core biz:
Shipping, profit margin 20-25%. Biz nature is a CYCLE biz.

Latest exercises:
~Capital reduction on 23Q3
~Venturing into shelving and storage biz, with profit margin ~13%
~Ship sale at 140m on Nov 2023, which will be in 23Q4 (estimate on end of February)

Attractive Points:
~capital reduction, which will turn Maybulk to new reborn company from accounting stabd point of view
~After ship disposal, balance ships has long term orders, which will generate stable income
~potential spwcial dividend of 0.10
~Dividend payout ~100% @0.01 with the yield 3% @0.33
~NTA 0.52
~almost zero debt, 1m
~Cash
cash 29m + deposit 162m , + ship sale deal 140m, which translate into 330m, if no loss no gain for coming qtr. this is talking about 0.33 cash per share, which is below the current price 0.325
~Value relization theme
~Estimate normal annual Net Profit 5-10m, EPS 0.005-0.01. If value the biz at PE 10, this translate into 0.10 for current biz

Target Buy Price:
Target Sell Price:
=cash 0.33 + current biz value 0.10 + potential special dividend 0.10
= 0.53

Report is prepared by Little Kang on 240115

dompeilee

11,888 posts

Posted by dompeilee > 1 month ago | Report Abuse

Good analysis...that's why I dare to UP my wager to 134,000+ shares...on their likely rising back to 50+c !🚢

Posted by knchan2001 > 1 month ago | Report Abuse

good

hng33

19,749 posts

Posted by hng33 > 1 month ago | Report Abuse

bought back at 31sen

hng33

19,749 posts

Posted by hng33 > 1 month ago | Report Abuse

sold back at 32-32.5sen

thesigncom

449 posts

Posted by thesigncom > 3 weeks ago | Report Abuse

come on MB, break the 33.5 barrier

thesigncom

449 posts

Posted by thesigncom > 3 weeks ago | Report Abuse

next resistance 34.5 and 38

Posted by bullrun2025 > 2 weeks ago | Report Abuse

No movement at all

dompeilee

11,888 posts

Posted by dompeilee > 3 days ago | Report Abuse

TY to the dum b fuggs who sold down to 31c....managed to buy more to reach 136,600 shares.

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