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235 comment(s). Last comment by zhendehenre 2021-10-16 12:50


738 posts

Posted by Dolly_Chai > 2017-01-24 11:14 | Report Abuse

bro er may have his points... read this from the latest quarterly report which justifies why the revenue and profit was lower...

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.


738 posts

Posted by Dolly_Chai > 2017-01-24 11:17 | Report Abuse

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...


738 posts

Posted by Dolly_Chai > 2017-01-24 11:17 | Report Abuse

high NTA which means attractive P/BV too...


738 posts

Posted by Dolly_Chai > 2017-01-24 12:25 | Report Abuse

希望不是等待春袋 :P


738 posts

Posted by Dolly_Chai > 2017-01-24 12:51 | Report Abuse

yeah... i saw that in their latest annual report:

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.


738 posts

Posted by Dolly_Chai > 2017-01-24 12:52 | Report Abuse

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.


738 posts

Posted by Dolly_Chai > 2017-01-24 12:54 | Report Abuse

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.


738 posts

Posted by Dolly_Chai > 2017-01-24 12:54 | Report Abuse

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.


738 posts

Posted by Dolly_Chai > 2017-01-24 12:56 | Report Abuse

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....


738 posts

Posted by Dolly_Chai > 2017-01-26 10:48 | Report Abuse

haha... bro er is so confident... i am only 50-50% on this one...


937 posts

Posted by cstrader > 2017-04-05 21:11 | Report Abuse

Now can buy back !!! TP 1.50


37 posts

Posted by saisai > 2017-04-25 15:21 | Report Abuse

any news ?

Posted by Bob Fairuz > 2017-09-28 23:26 | Report Abuse

Buy2 potential stock


120 posts

Posted by Roly > 2017-12-28 14:29 | Report Abuse

Share buy back

Posted by ClutchCargo > 2018-03-21 11:47 | Report Abuse

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?

Posted by commonsense > 2019-01-29 10:32 | Report Abuse

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 ( 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.

Good luck.


182 posts

Posted by lurhays > 2019-07-08 10:56 | Report Abuse

no seller to sell on lower price so they could put the best sell price three step up...

Posted by Alan Ting > 2020-01-15 13:37 | Report Abuse

any target price ?

ubaL taM

120 posts

Posted by ubaL taM > 2020-02-19 20:36 | Report Abuse



3,194 posts

Posted by RedEagle > 2020-04-27 23:50 | Report Abuse


Posted by Weng Yuen Yip > 2020-06-14 14:18 | Report Abuse

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

Posted by The St. Goreng > 2021-05-18 09:54 | Report Abuse

missed out Y&G? Kan melati ada?

* only for risk taker. LOL

Posted by wallstreetrookie > 2021-05-18 09:59 | Report Abuse

@dompeilee I have 5 lots and sold


121 posts

Posted by Zamrijin > 2021-05-18 10:18 | Report Abuse

Nta 1.8

Still cheap


191 posts

Posted by alvin1188 > 2021-05-18 11:00 | Report Abuse

hmm... looks like this company has a lot of assets... let me take a deeper dive into it and see if it is worth investing...


175 posts

Posted by Jacky_87 > 2021-05-18 15:59 | Report Abuse

Dompailee, let sell 1.8


121 posts

Posted by Zamrijin > 2021-05-18 16:31 | Report Abuse

Very undervalue warren buffet category stock

Will become germs soon


121 posts

Posted by Zamrijin > 2021-05-18 16:31 | Report Abuse

Bought 83c -50k units


815 posts

Posted by Petronas > 2021-05-18 19:28 | Report Abuse



11,888 posts

Posted by dompeilee > 2021-05-19 09:11 | Report Abuse

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... =)

SOLD 1 lot @ 82.5c this morning


11,888 posts

Posted by dompeilee > 2021-05-19 09:19 | Report Abuse

Daily capital gains income for the 200TH CONSECUTIVE SESSION secured!!! =D


977 posts

Posted by MrsLee > 2021-05-20 22:44 | Report Abuse

Not sure if tomorrow will rebound????

Posted by The St. Goreng > 2021-07-09 09:58 | Report Abuse

Bilakah Bunga Melati mekar mengembang?

Posted by risktoreward > 2021-07-23 10:41 | Report Abuse

join in @ 0.615

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