3.91c EPS not bad, despite BDI plunging to low levels for 2/3 of the 4th qtr. FY 19.25c EPS. Net cash 14.1c & net-net 7.1c vs HUGE debts from 2014-2020
No exceptional gains so operating profit was 31,895 mil. Fair value $1.30 if BDI continues to recover...Panamax now @ 2,596...higher than Nov, Dec & Feb lows(2,280;2,300 & 1,750 respectively) & @ the highest since Sep 2010.
The Baltic Exchange Dry Index advanced 4.5% to 2,244 on Wednesday, its highest level since January 10th, extending gains for a fourth straight session, supported by gains in rates across all its vessel segments. The capesize index, which tracks iron ore and coal cargos of 150,000-tonnes, jumped almost 9% to 2,192, its highest level since January 11th; and the panamax index which tracks cargoes of about 60,000 to 70,000 tonnes of coal and grains, increased 103 points to 2,699. Among smaller vessels, the supramax index went up 29 points to 2,388.
I warned you guys a year ago to dump Maybulk. Last year when I said I was underweight on Maybulk, lots of people gave a ton of criticism. Not every company founded by Robert Kuok is a good one. Kuok is a vampire in the market, won't share his profits with shareholders and this company is a sinking ship with so many vessel disposals
This stock has a high possibility of getting delisted. They are burning through cash every day. Keeps disposing vessels. Malaysia Bulk Carrier Berhad is a sinking ship
To those who still think MayBulk future focus will still be the dry bulk shipping biz, pls wake up. Robert Kuok has sold the controlling stake in Maybulk, new owner's biz apparently is the property development. Whether Robert Kuok will clear off all the remaining shares will be monitored closely.
If you think MayBulk will remain as a bulk shipper, keep on dreaming. If you think it can't go lower, keep and hold it tightly, you will be given chance to buy at much lower price later so that you can average your total costs. hahaha....
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wallstreetrookie
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Posted by wallstreetrookie > 2022-02-22 12:51 | Report Abuse
I have no idea who deleted my post. I really wanted to be bullish on this company but all indicators point towards shorting Malaysia Bulk Carriers