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....
B10. DIVIDENDS The Directors have recommended the payment of an Interim Single-tier Special Dividend of 6.5 Sen per ordinary share, amounting to RM65 million. The date of entitlement and payment will be determined later.
Net cash per share is 35sen/share, after payout 6.5sen dividend, Maybulk still is cash rich company with net cash 28sen or 65% of market capitalization.
Fortunately, I DID buy the day after the qtrly result & bought 7 days in a row @ 41-44c since then...this morning, I gasak another 25k shrs to shoot my holding to over 100k & my average cost to 57c :D
Investing v Gambling...2day, my MGM China shares were SOLD @ HK$8.45 only becos I forgot about them after buying from HK$5.76 down to 5.38 in Sep/Oct '21 & they sank further & stayed DOWN for 13 months...Tumbled to as low as HK$3.01 last month...another gambling miracle like Comcorp.
Thank you for the compliment! As long as we know the co. has huge cash reserves & NO DEBT in this rising interest rate environment & the charter rates are still profitable & the 2 owned ships still have a mkt value of 280-300 mil, pocketing the 100 mil dividend shld not affect the co's core biz in the medium term. Better than throwing a large chunk of that $ into a low margin biz just for the sake of deworsifying(diversifying)!
If my Comcorp can go from 2.5c then suspended & limit-up 3X to 99c & eventually earn 24% on my 79c & my MGM China can rise from HK$3.01 last month to HK$8.82 now despite losing over a billion & its NTA dropping by 85%, Maybulk can revisit $1 in 2023....
RM0.10 dividend for this time is actually a capital return after 2 ships sold. Maybulk still a cash rich company after this capital return. Currently cash in bank is RM 359 mil, cash spent for this capital return is about RM 100 mil, balance RM 259 mil.
Since the investment on Tunas Manja Group had been withdraw (I feel relief after heard this news), i hope Maybulk can start purchase new Panamax ship, as Panamax ship price is now halved compared to the period when Maybulk sold its 2 Panamax ships, and Panamax index is relatively stable compare to Capesize index.
This stock is not for syiok2 sendiri gamblers like hng33...one orgas m & then it's over...a longer-term view will provide continuous pleasure when the bull revisits again!
I'm mentally prepared for it to drop to as low as 32c after ex-dividend. However, the equivalent of more than 50% of my dividend income for 2022 will have been earned by Jan 5th 2023 =)
Baltic Dry Index has risen 39% since a month ago with the Panamax index about 9% higher & stabilised at the highest levels of 2013 & 2018, 60% higher than the average levels between 2012-2020 when the co. incurred huge losses. I estimate 4Q result to be in line with the 1Q '21 result based on these index levels or perhaps half due to the smaller fleet size which still gives it a reasonable PE of 15-20 going fwd.
This BDI rise not contribute to Maybulk earning, as current rise in BDI is majorly increase only in Capesize. The Panamax, which Maybulk focus on, are actually decreasing.
i will foresee Maybulk may again report lost on this quarter, as the average of Panamax on this quarter is below 1700. But I think next quarter will be better as based on history chart, Panamex rise always slight delay compare to Capasize.
Their 2 ships are actually Kamsarmax which is 85k > 70k upper limit for Panamax class. I expect these 2 will command higher charter rates than Panamax & I disagree with the loss forecast, predicting 0.5-1.1c EPS
Post a Comment
People who like this
New Topic
You should check in on some of those fields below.
Title
Category
Comment
Confirmation
Click Confirm to delete this Forum Thread and all the associated comments.
Report Abuse
Please Sign In to report this post as abuse.
Market Buzz
No result.
Featured Posts
MQ Chat
New Update. Discover investment communities that resonate with your ideas
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
wahd
76 posts
Posted by wahd > 2022-05-30 14:16 | Report Abuse
Who have AGM Today ?