Posted by Hustle > 2013-11-21 16:17 | Report Abuse

Base on your definition,the company major obstacle now is not about 30% bumi equity.It need to surrender 30% of their market share to Datuk & Datin as usual it will bound like BJAUTO & CARING.

Posted by tsejuie > 2013-11-21 16:51 | Report Abuse

Actually, the fact that it is a listed company means that upon listing, it had 30% bumi equity. Just that it may have dropped below that level now. Based on their announcement, it seems that they require their subsi to have 30% bumi equity directly, which of course they would rather not have.

Posted by Hustle > 2013-11-21 17:07 | Report Abuse

This one easy settle lah,just ask his boss travel to S'wak to get some true bumi as his anak angkat then problem solve forever.

Posted by bsngpg > 2013-11-21 23:20 | Report Abuse

Hi Michael Tang:
1st half eps=4.1sens, annualized eps of FY13 =8.2sens. Expected div = 40% DPOx8.2=3.3sens. At RM1.06, yield =3.1%. I do not agree with you that MBL is better than FD which is coincidently at 3.1%.

You said : “MBL is in the same business as boilermech in boiler” May I know where do you get this info? As I have an optimistic view on biz of manufacturing of biomass boiler, thus I am very keen to learn more about the venture of MBL into it.

Thank you very much.

Posted by bsngpg > 2013-11-21 23:23 | Report Abuse

Hi KC Chong:

I like this comment
“Posted by alenac > Apr 3, 2013 09:09 PM | Report Abuse Got your point but there are many suppliers of machines and plants in the market, no need to go to this company. CAPEx spending when the plantation got money if not they send them to 3rd parties mills.”

Browsing thru their website, I do not feel the machines built by MBL are kind of high-tech and sophisticated, meaning the entry barrier should be low.

Annual Report 2012 : aggregate remuneration of the Directors for FY12 was RM4.2mil. I assume it is similar in FY13. 1st half FY13 PBT=4.1 mils, annualized PBT at RM8.2mil. Remuneration of Directors is almost 50% of the PBT. Where is the productivity of the directors?

May you share your comments ?

Thank you very much.

Posted by kcchongnz > 2013-11-22 07:05 | Report Abuse

Good points bsngpg, that should be the way in investing. Find out yourself if a stock is really worth investing, rather than just hearsay.

But I am not sure you got the right person to ask or not. My hunch is a definitely not. I have no knowledge of the palm oil machineries industry. I didn’t even know what does MBL stands for when somebody asked me about this stock here. I thought it stands for 無本利, and so I bought the stock.

Does the nut crushing plant has to be high tech and sophisticated to do a business like MBL? I don’t know. But I did like those postings written by a former named gark about the industry and MBL’s niche. I thinkt what he said about the good things on MBL made sense.
I did write a few postings talking about what I think about investing in MBL, basing the circumstances at that time. As I remember, MBL showed all the characteristics of a great company; good profit and growth, high profit margins, great quality of earnings and FCF, ROE, ROIC etc. And best of all it was selling at great price at around 90 sen then.

Whatever strategy I used, whether the ColdEye 5 yardsticks, value investing, growth investing, Greenblatt magic formula, high dividend yield strategy, they all tick. It meets all criteria as an investment at that time.

The EPS for last year was 18.6 sen. But for the last two quarters, it is only 4.1 sen, quite a drop. Assuming annualized EPS of 8.2 sen, and at the closing price of 1.06 yesterday, PE would be about 12, and dividend about 4%.

Has the business deteriorated so badly? Is the price too high? I don’t think so. Bear in mind this industry which is related to the palm oil plantation is resilient but is cyclic in nature. Tides come tides go.

Will MBL make more or less profit in coming years? I don't know. But I believe things revert to the mean often.

Directors remuneration too high compared to profit? Does it mean that companies losing money directors shouldn’t be paid at all? It should be related to the revenue of the company. Yes even that the fees and remuneration is a little too high at 5.3% last year’s revenue. But MBL is small company with small revenue. Does it mean that directors should be paid just a few tens thousands a year only?

These are just my personal opinions.

Posted by bsngpg > 2013-11-22 07:58 | Report Abuse

Thank you for the prompt response.

Posted by bsngpg > 2013-11-22 08:51 | Report Abuse

As I am familiar with Zhulian, thus pls allow me to compare Zhulian to MBL. Annualized Rev of FY13 of Zhulian and MBL respectively: 452 mil and 56 mil. Directors remuneration of both are 5.2mil and 4.2 mil(FY12) which are 1.2% and 7.5% from their rev respectively.

Why should BOD of MBL draw so high % remuneration from the company?
I feel very weird if my company is small or medium in size but there are 8 big directors sitting in office drawing big salary, pushing overhead high while the earning of the biz is not that big.

When I attended interview in some small companies, the common phase heard was “we would like you to join us and grow the biz but we are small company, cannot afford for the expected high salary, can you please reduce the expected salary and let us grow the company together?” Why I do not see this in BOD of MBL ?

This factor hit me as I am very particular about the "people" when investing into a company.

Posted by haikeyila > 2013-11-22 09:31 | Report Abuse

i believe MBL has a great business but would have to agree that more could be done on the corporate governance side, ie divvy policy, directors remuneration, transparency, etc. Otherwise they could easily fall into the fishy, sneaky, chinaman-type category of companies.

Posted by bsngpg > 2013-11-22 10:14 | Report Abuse

BoilerMech
Hi : Lately, I have been assigned to assess high pressure bio-mass boiler. I gathered some insight translating into optimistic view on the industry. I were delighted to know that M’sia has a listed specialist on Bio-mass boiler, BoilerMech. Thanks to Mr Michael Tang. I will start the process of data collection on the company as preparation for the potential entry in the next Bear market. From the first glance on the annual report, I like the BOD. Just having one concern, the owner is Chia family(39.16%) but the soul people is Leong(14.6%). When there is a critical conflict between Leong and Chia, Leong has no option but leave, leaving the company without technical soul. This kind of story happened in many Chinaman companies.

What are your comments especially on financial analysis? Thank you.

Posted by gark > 2013-11-22 16:37 | Report Abuse

MBL is the world leader in kernel crushing plant and holds patent expiring in 2014, hence pioneer tax free status until 2014 as well. This is their moat, but depending if they are able to renew thier patent & pioneer status once expired is the big question.

Every one can build a palm kernel expeller, but is it to the efficiency of MBL?

Posted by bsngpg > 2013-11-22 19:02 | Report Abuse

Hi gark : Thanks for your comments. I have NO intention to challenge your info, but I would appreciate very much if you could provide more detail to justify your comments on “the world leader in kernel crushing plant and high efficiency of MBL”.

“Leader” and “high efficiency” are two key elements of my preference as they equal to competitive=$.

I want to be a partner of you in MBL, please help me to convince myself.

Thank you very much.

Posted by tinyinvestor > 2013-11-24 17:05 | Report Abuse

when is the div announce..

Posted by chiahau90 > 2013-11-24 18:36 | Report Abuse

next QR announcement at 26/11/2013

Posted by haikeyila > 2013-11-26 18:01 | Report Abuse

ugly q results

Posted by bsngpg > 2013-11-26 21:13 | Report Abuse

周星驰：「開心嘅時候過得特別快，又係時候講 Bye Bye!

Posted by soongkm > 2013-11-26 21:52 | Report Abuse

may ask the quarterly result show that the net cash is increase right....??? TQ

Posted by georgelim > 2013-11-28 09:59 | Report Abuse

Received a notice from MBL that they will bank in the dividend of 4 cents per share in these few days. :)

Posted by tinyinvestor > 2013-11-28 15:30 | Report Abuse

y d price keep going down....

Posted by georgelim > 2013-11-29 17:52 | Report Abuse

Interesting news from The Edge
http://www.theedgemalaysia.com/business-news/265531-palm-oil-prices-could-hit-1-12-year-high-by-march-mistry.html

Posted by tinyinvestor > 2013-12-31 17:41 | Report Abuse

wakeup slowly in the eve of new year....hope it will continue next year...

Posted by Tessa Joseph > 2014-01-02 21:26 | Report Abuse

i'm staring at u today, but u no move, last minute abit lol

Posted by Joel > 2014-01-07 23:22 | Report Abuse

MBL will start to fly in this recent day.
TP rm 1.30

Posted by Joel > 2014-01-08 16:41 | Report Abuse

Buy below rm1.10 bcos this counter r going to rebound to next resistance price.

Posted by kevin5059 > 2014-01-09 10:31 | Report Abuse

Any solid reason?? Those who said this counter going to shot?? TA? or any fundamental reason??

Posted by iafx > 2014-01-09 10:41 | Report Abuse

CPO price trend doesn't look encourage at the moment, many analysts could be OVER optimistic ($2700?). let's c.

Posted by Ruhaizat Talib > 2014-01-10 18:43 | Report Abuse

Very good dividen stock to keep

Posted by avucin > 2014-01-28 23:25 | Report Abuse

current pe is now 9..not 5 anymore...downside more possible...70 cents should be around pe 5

Posted by tinyinvestor > 2014-02-05 18:50 | Report Abuse

also very hard to move up...

Posted by tinyinvestor > 2014-02-10 07:17 | Report Abuse

when qtr result will b announce?

Posted by yoda88 > 2014-02-20 16:37 | Report Abuse

Sleeping too long, time to wake up and run. Volume picking up,should be moving on the right track now.

Posted by georgelim > 2014-02-21 15:50 | Report Abuse

wow, sudden increase in trade volumes. Any good announcements that we are not aware of?

Posted by imoogi99 > 2014-02-21 21:14 | Report Abuse

Surprise...surprise...the dragon rises from her deep sleep. Looks refreshing now. Fly high next week.

Posted by yoda88 > 2014-02-22 21:50 | Report Abuse

more to come frm this sleeping beauty.

Posted by tinyinvestor > 2014-02-22 22:22 | Report Abuse

How long the up trending can last...

Posted by yoda88 > 2014-02-23 20:59 | Report Abuse

If it manage to break above 1.14 level than it will be very bullish.

Posted by yoda88 > 2014-02-24 11:51 | Report Abuse

nicely trending

Posted by purplered > 2014-02-27 10:52 | Report Abuse

i think very hard to move no matter how good the result.

Posted by haikeyila > 2014-02-27 17:09 | Report Abuse

poor result. how far can they go just depending on these seed expellers, yet paying so much divvy and director's fees? but wait, they're venturing into plantations with sokor gemilang? how big is that plantation again?

Posted by houseofordos > 2014-02-27 21:06 | Report Abuse

result out already meh ?

Posted by Meng > 2014-02-28 22:59 | Report Abuse

too bad for the quarterly result. but maybe is a good chance to buy more at lower price. Accumulate below RM0.90. hehe

Posted by imoogi99 > 2014-03-01 18:10 | Report Abuse

Need to be patience with this counter. The plantation land they bought from Sokor Gemilang is 789ha in size and 630ha are planted. Young matured plants at 395ha and balance not matured at 235 ha. By this year or next year these not matured plants will bear fruits as they're all planted in 2010. In 2012 FFB at 682.74MT.

Since the deal finally settled in this year, the sales of the FFB will goes into their books in this quarter. Further more price of palm oil is on the up trend and of course they are affected by the weather too. Invest/trade at your own risk.

Posted by georgelim > 2014-03-03 09:47 | Report Abuse

Anything happen to this counter that I am not aware of? why such a sudden drop in price in a day?

Posted by georgelim > 2014-03-04 16:33 | Report Abuse

An interesting news piece as reported in The Edge today. Palm oil at 17 months high? Will this help in MBL stock price?

http://www.theedgemalaysia.com/business-news/278403-veg-oils-palm-oil-firm-to-near-17-month-highs-on-dry-weather-worries.html

Posted by tinyinvestor > 2014-04-02 18:06 | Report Abuse

MBL to pay div 3c pershare. ex-date 15/4

Posted by imoogi99 > 2014-04-02 20:36 | Report Abuse

A good starts for the year.

Posted by georgelim > 2014-04-03 13:23 | Report Abuse

Anyone has the quarterly result report? Thanks.

Posted by mogul88 > 2014-04-04 13:39 | Report Abuse

It can be found at the top of this page under disclosures

Posted by georgelim > 2014-04-04 15:15 | Report Abuse

Thanks mogul, I was wondering whether there is any latest quarterly result report and also announcement of div embedded, as I didn't see the latest info in the "disclosures" panel earlier this week. Or perhaps, they just announced div without releasing the quarterly result yet.

Posted by June26 > 2014-04-04 15:21 | Report Abuse

For updated news, go to www.bursamalaysia.com/market/listed companies/company announcements