oh..哈哈..静静的卖..lol warning to all newbies in I3, most of the SIFU here will shout loud loud ask you to buy after the SIFU finish accumulating. No SIFU will let you know when they have sold all there share on hand especially when the promoted stock perform badly. BEWARE !!!
ya, becareful of PFI project, like Digistar PERSADA project, it maka lost on the first 3 years during the construction 2012-2015, this years start collecting 36m from jkr, but 19m go serve bond interest and say keep 18m as reserve for bond redemption 270m 15 years latter, good profit, judge yrself
osted by Albukhary > Dec 17, 2016 12:36 PM | Report Abuse
Beside that, the RM652 million is also a trap for those who not familiar with accounting standard.
This is a PFI project, that mean Melati have to incurred it own cost to build the building, then only lease back to government for the next 30 years. After 30 year, the building below to government.
That mean, during this 3 years of construction period, they wont be any net profit earned from this project. And the cash flow will be very weak, as it will only have money outflow, but no money inflo
super bad record..qoq drop from 13million to 500k? lol...this report will at least cause this share drop 30-50%...beware. very bad report...this stock low volume also...so you can easily saw you drop sharply soon.! i guess erkongseng already start selling his share, he will be asking you guys to pick up his share..lets see
bro er may have his points... read this from the latest quarterly report which justifies why the revenue and profit was lower...
Construction The group recorded revenue of RM14.189 million and profit before tax of RM0.408 million as compared to the preceding year corresponding period of RM17.224 million and RM1.459 million respectively. The lower revenue of this operation was due mainly to the new road work in East Coast Economic Region (“ECER”) project at an initial stage. The revenue recorded in the current quarter was mainly attributed from the “Program Perumahan Rakyat” (“PPR”) Project.
And prospect looks promising for the next few quarters...
Commentary on prospects The on-going construction works such as ECER and PPR, will continue to contribute positively to the Group’s revenue and profitability despite moderation economic outlook due to low crude oil prices and weaker Ringgit. The Federal Budget 2017 presented on 21 October 2016 has introduced various measures and focused on the strengthening of our economic and financial fundamental to better global uncertainties. The proactive spending and pump priming of the economy are capable of driving domestic demand thereby supporting economic growth. The Government quoted 2017 as “Delivery Year”. Therefore, it is foreseeable that business and construction activities to be increased and benefited the Group in line with this direction. Based upon this, the outlook of the local construction sector is good and will benefit the industry players. Ongoing projects and those scheduled to commence in the near term such as road works and affordable housing schemes will ensure the sector continues to grow in the next few years. The Board of Directors is optimistic about the Group’s ability to continue to achieve satisfactory performance for the financial year ending 31 August 2017.
after all, Melati is a rare construction company who has almost no debt (just a marginal 1.8M total non-current + current borrowings), as compared to other construction companies who have tonnes of debts...
Business Overview Bayu Melati Sdn Bhd, a wholly-owned subsidiary of the Group, had on 15 April 2016 entered into a conditional sale and purchase agreement (“SPA”) with Aturan Utama Sdn Bhd for the acquisition of 3 parcels of leasehold land held under H.S.(D) 54886, 54887 and 54888 for PT No. 4505, 4506 and 4507, Mukim Bandar Selayang, District Gombak, Selangor Darul Ehsan (“Lands”) for an aggregate cash consideration of RM77,735,849 (“Proposed Acquisition”). The Lands are situated within Bandar Baru Selayang, Selangor and the purchase is in line with the Group’s intention to build up its land bank in strategic locations with high development value. The Proposed Acquisition demonstrates the Board’s initiative in pursuing growth and sustainability in its business. The Board believes the Proposed Acquisition will expand the Group’s development activities in the future and the Lands are expected to enhance the future earning potential of the Group.
The Group also secured a contract for construction and completion of the proposed development of a 22-storey block of 240 unit apartments encompassing 1 storey of common facilities, a 6-storey car park podium and other facilities such as guard house, multipurpose hall, Surau, children’s playground, gymnasium and Tadika. This project is for Tenaga Nasional Berhad’s workers’ quarters (“TNB Quarters”) situated on TNB’s land at Kelana Jaya, Petaling Jaya, Selangor Darul Ehsan. The TNB Quarters is targeted to achieve the Green Building Index (GBI) Certification with Certified rating which complies with industrial standards of Energy Efficiency, Indoor Environment Quality, Sustainable Site Planning & Management, Materials & Resources, Water Efficiency and Innovation. The Group will ensure the compliance with these GBI requirements, submittals, products and the execution of the works shall accordingly be in line with the Group’s commitment to support and contribute to the national policy of sustainable development for a greener world. The construction contract known as “the Central Spine Road, Pakej 3: Gua Musang, Kelantan Ke Kg. Relong, Pahang (Seksyen 3H Skop Tambahan: Kg. Kechur to Kg. Seberang Jelai)” in the East Coast Economic Region (ECER) was completed during the year with the issuance of the Certificate of Practical Completion on 7 October 2016. Based on the Group’s exemplary project delivery, Jabatan Kerja Raya had, on 29 August 2016, awarded another road works contract at ECER, Seksyen 3E1 : Mentara to Merapoh at the construction value of RM99 million. The construction period for this contract is 36 months. The scope of works include earthwork, drainage, road pavement, geotechnical, slope protection and bridge construction.
The Group also secured a piling contract for construction and completion of 2 blocks of 25 and 35 storey condominiums with an 8 storey car park podium (Residensi Bayu Andaman) in Bandar Sentul Utama, Sentul, Kuala Lumpur. The project consists of 400 units of condominium and 200 units of Perumahan Penjawat Awam 1Malaysia (PPA1M). PPA1M is an affordable housing scheme for government employees which emphasises on comfort in aspects of size, design, quality and location. Melati Ehsan is on target to procure the contract for the building and other associated works in 2017.
The development plans for the remaining parcels of land in Taman Ehsan Jaya, Pandamaran, Klang are currently subject to further refinement to suit market demands and needs. The balance of the yet-to-be developed land bank shall help to sustain the Group’s medium to long-term activity and profitability.
actually Melati Ehsan secured quite a number of contracts but the problem is they did not announce these on Bursa so investors were not aware... perhaps the boss should go a bit high profile instead of being too low profile....
Any idea when the Kenanga Residence Rawang project will be delivered to purchasers? Delivery seems to have been delayed over year over the construction delivery period. Is this expected to affect their reputation and share price?
Since FY17, Melati has failed to deliver substantial profit to its shareholder with FY18 profit of only RM2.4mil. Currently based on the 12 months trailing profit, the company is being valued at a high of 24x PE. Even if the company managed to deliver a profit of RM1mil per quarter for the rest of FY19 (which I highly doubt), it will still carry a high valuation of 16x PE if compared to the industry average of below 10x.
If you are looking to diversify your portfolio outside of Melati Ehsan (due to its relatively high valuation) I would recommend you to look at MBMR.
MBMR is a direct proxy to Perodua via its 22.6% interest in the company. Valuation is cheap at only 6.9x PE (based on target FY18 profit of RM145mil. 9m profit is already RM106mil). PB is low at only 0.7x BV. 4Q18 results is expected to be higher than 3Q18 and last year's 4Q17.
FY19 growth will be driven by the still high demand of the new Myvi and the newly launched SUV Aruz and also the newly revamp Alza in 2H19. The recent announcement of closure and potential disposal of the loss-making alloy wheel manufacturing business alone is expected to boost the company’s profit by an additional RM20mil. I am projecting a profit to shareholder of RM170 mil for FY19 which at the current price values MBMR at only 5.9x PE.
Please go through the analyst reports (https://klse.i3investor.com/servlets/stk/pt/5983.jsp) and do your own analysis before making any decisions. There are 8 analysts in total covering the stock with most of them having a TP of above RM3 (all have a buy rating). The average TP for the 8 analysts is around RM3.50.
quarterly net profit soared 3.6 times (Kuala Lumpur, 13th) As of the second quarter of the 2020 fiscal year end of February, the net profit soared by more than 3.6 times to RM1.444 million, or 1.22 cents per share, as of the second quarter of fiscal 2020 at the end of February.
The company reported to the exchange that its turnover for the second quarter was reported to RM134.28 billion, an annual increase of 62.51%.
In the first half of the year, the company's net profit soared by approximately 1.3 times to RM2.027 trillion or 1.71 sen per share; its turnover increased by 56.44% to RM162.849 billion.
According to the announcement, the revenue and net profit of the construction business for the first half of the year increased from RM98.57 million and RM2.35 million in the same period of the previous fiscal year to RM15.479 million and RM3.08 million, thanks to the road construction of the East Coast Railway project and several Kuala Lumpur construction project.
As for the trading business, revenue and net profit rose to RM 8.05 million and RM 124,000, respectively, as more building materials transactions were recorded.
Management is optimistic about the company's performance and expects to have satisfactory results this fiscal year. translated View Original Article
Actually I also hv this shr but NOT 5 lots....only 3.5 lots( 1 bought in 2016 for 75.5c & another 2.5 bought for 54c in 2021) =) Unfortunately I forgot 2 announce here BUT I don't need anybody 2 believe me... =)
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....