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....

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/

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

Vincent, is BDI still relevant to Maybulk?

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!!!🤗

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

Any development news?

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!🤗

Posted by newbie9893 > 2023-12-21 15:24 | Report Abuse

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

Posted by DividendGuy67 > 2023-12-29 01:23 | 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.

Posted by newbie9893 > 2024-01-04 11:24 | Report Abuse

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

Posted by hng33 > 2024-01-09 14:53 | Report Abuse

sold at 33.5sen

Posted by knchan2001 > 2024-01-16 09:03 | 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

Posted by dompeilee > 2024-01-16 09:09 | 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 > 2024-01-17 06:22 | Report Abuse

good

Posted by hng33 > 2024-01-22 09:58 | Report Abuse

bought back at 31sen

Posted by hng33 > 2024-01-26 15:14 | Report Abuse

sold back at 32-32.5sen

Posted by thesigncom > 2 months ago | Report Abuse

come on MB, break the 33.5 barrier

Posted by thesigncom > 2 months ago | Report Abuse

next resistance 34.5 and 38

Posted by bullrun2025 > 2 months ago | Report Abuse

No movement at all

Posted by dompeilee > 2 months ago | Report Abuse

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

Posted by thesigncom > 1 month ago | Report Abuse

0.295