Today's volume is very high, 7,750,000 shares traded.Assuming the bulk is LTH selling, the reminder left should be very little.with this development, we should expect significantly less upward resistance to come soon.
Might look into this counter when I have extra cash. Judging from the reports, looks promising. However, fundamentals are not enough. Like all counters, need exciting news and rumours to move it up.
Industry: Construction MTDACPI (Stock code: 5924) The Group recorded revenue of RM90.3 million in the financial quarter ended 31.03.2012 as compared to RM52.4 million in the immediate preceding quarter, representing an increase of 73%. The increase was mainly attributable to maiden contribution from newly secured job from its construction division. The Group also recorded >100% improvement in pre-tax profit of RM43.11 million as compared to a pre-tax profit of RM2.0 million in the immediate preceding quarter. The improvement was attributable to write back of liquidated ascertained damages from completed projects incurred by the construction division which was booked in the previous financial year coupled with positive contributions from its overseas manufacturing units. The Group near term prospects remain challenging as operating environment remained intense and competitive. The Group performance will remain dependant on its outstanding order book amounting to RM1.0 billion. The conclusion of the recent 13th general election augurs well for the Group as infrastructure spending under the Government Transformation Plan will remain in place. Aside from bidding for infrastructure jobs in the domestic market, the Group would continue to leverage on the strength of its holding company, AlloyMtd Group which is actively on a lookout for jobs in the Middle East and ASEAN region. Barring unforeseen events, the Group expects a modest recovery in current financial year. (Bloomberg, May 28, 2013)
The Company Major Share holder = LTH is selling fast to off hand as Major Share holder....
R u interest to become Major Share Holder of this rubbish Co. ??
To said this company Profit turn around ??? Pls read the Annual Report , Qtrly Report , annourcement properly ; Dont simply said a "Disposal of Land" March 2013 and "Disposal of Subsi" in May 2013 , would turn around the via this Corp. Exercise.
To me , this counter is simply wasting time. ___________________________________________________________________
Same px counter = Inari , TH Heavy , Y not consider ???
From Finance Analysist View :- 1) A company had been 2 year = 8 qtrs loss making 2) A company keep selling off Fixed Asset to obtain operating cashflow 3) Most important , A company Major Share Holder ceased to be Major Shh after this blendy of Corp. Disposal Execise.
From TA View :- 1) Volume overshot for the past 2 days. 2) Today , now , forming "Gap-up Shoting Star"
R u still wanto buy meh ,,,, ???
I wasnt said I m scare of LTH rebalance porfolio, but , do u aware that LTH also holding this company stock :-
1) TH HEAVY 2) Pantech 3) Scomi ES 4) Penergy 5) Perdana 6) Alam
pantech, i bought a lot yrs ago at 0.46 sold 1.00, good enough for me alam i bought 0.49 sold 1.10, profit not bad on and off have to play 'lap sap stock' for fun, mtd have repay borrowings 19.6m in the latest qtr, even after paying this borrowing , cash level not too bad at almost 50m, mtd's parent alloymtd hold above 70% of mtd, they can take private anytime, lastly i just play tiny 20k on this counter, lose all also no prob
To said this company Profit turn around ??? Pls read the Annual Report , Qtrly Report , annourcement properly ; Dont simply said a "Disposal of Land" March 2013 and "Disposal of Subsi" in May 2013 , would turn around the via this Corp. Exercise.
Dear Kcchongnz,
Please do me a favour to verify the above statement, I am not good in FA. I take it as a good feedback and I will also check the annual report.
It is not nice if I give wrong information to all valued members here. I did check the profit and loss account, there is no extraordinary gain. I emphasize more on growth, my report only shows ROE, EPS, NTA, Total equity and etc. I do not check on debt and liabilities.
Sephiroth, otb n imf all are shares expert in this i3 n since they have different opinions to this counter, i feel more worried so clarification is needed.
Aiyah, I don't know anything about MTDACPI lah! anyway, since my opinion is sought, just bullshit a bit here lah.
The report by the Research House and the article appeared in Bloomberg are just copy and paste from the management review in MTDACPI's last financial report. They don't add any value to the report at all.
First thing strikes me in the 2012 result was 2012's revenue decreased to 258m from 326 m, but the gross profit increased to 54.3m (gross margin 21%), from 18.8m (gross margin 6%) the previous year. How come? Then I read the review of financial statement by the management:
"The Group also recorded >100% improvement in pre-tax profit of RM43.11 million as compared to a pre-tax profit of RM2.0 million in the immediate preceding quarter. The improvement was attributable to write back of liquidated ascertained damages from completed projects incurred by the construction division which was booked in the previous financial year coupled with positive contributions from its overseas manufacturing units. "
Yeah this is a replica of the investment bank's and Bloomberg's report. Yes, the profit improvement is purely a write back of LAD. Positive contributions from its overseas manufacturing units? Where? Associates and JV? That was only 6.8m. A wite back of LAD has no cost and hence the increase in the gross margin. A write back of LAD cannot be considered as a revenue and profit. It is a EO item! Worse still, is it right to book in a write back in LAD as revenue?
I could not find this EO item being excluded from the cash flow statement. What kind of financial statement is that? Very dangerous kind of management. Accounting shenanigan?
Well I may be wrong and i smell dead rat. Anyway, this is the opinion of someone not knowing much of MTDACPI and a non professional.
Questions : 1. I believe the aforesaid 2 items will not affect profit for the period of 42,120,000. They are not included in counting of profit of the company. 2. The aforesaid 2 items will improve the cash flow of this company.
Yeah, the above has no effect on the profit of MTDACPI. MTDACPI didn't hide it anywhere in the income statement. They show clearly these in the cash flow statement under "cash flow from investment".
It is not a recommendation to buy .... I repeat. From technical analysis point of view, the chart is very beautiful.
Please look at monthly chart, when there is volume and price breakout, the share price will move up significantly. The parent company of MTDACPI i.e. MTD or Alloymtd is cash rich, MTD has a cash cow i.e. MTD toll at Genting/Gombak. When there is a push, the price can be very high.
Look at the below up trend movement of this stock (historical data).
From Jan 1995 2.25 to Mar 1997 8.46
From Sept 1998 0.55 to Jan 2000 5.24
From Apr 2001 1.70 to Apr 2002 4.04
From Feb 2006 0.675 to May 2007 2.36
From Mar 2009 0.255 to Aug 2009 0.83
From May 2013 0.27 to ??
Look at price and volume chart pattern, the pushing is on. I do not know what is the target price unless I am a god. If the share price can hit 1.76, there is a 224% gain.
It is not a recommendation to buy ... I repeat. Final decision is yours.
This post is more suitable for those who know technical analysis well, please make full use of the aforesaid information.
Those who think that this stock is not good in term of fundamental, please ignore this post. Do not disturb others to make full use of technical information I provided.
Good or no good, right or wrong, let time tells and result shows. It is pointless to argue. We are in I3investor.com is to make money. There is also no right or wrong in stock market.
Final decision is yours. I repeat .... it is not a recommendation to buy.
The share price of MTDACPI was 29 sen three months ago. At the current price now at 59 sen, those lucky guys who have bought MTDACPI three months ago would have made 100%! Good on you guys. But how many of you are those lucky ones?
However, I know how there must be heaps of unlucky investors who have invested in MTDACPI for long-term. Those who have bought and held the stock 10 years ago at RM3.08 would have lost 81% of their investment. Those who bought at 13.5 years ago at 7.00 lost 92%! They really want to cry also no tears 。。欲哭無淚
Appended below is how bad the return of investment like for MTDACPI for various years of holding.
Years of holding 0.5 1 2 3 5 10 13.5 MTDACPI 17/07/2013 RM0.59 Period 6-month 1 year 2-year 3 year 5 year 10 years 13.5 years Price 0.32 0.40 0.51 0.52 0.62 3.08 7.00 Return of stock 84.4% 47.5% 16.8% 14.6% -4.1% -80.8% -91.6% CAR 239.9% 47.5% 8.1% 4.6% -0.8% -15.2% -16.7% Dividend 2.0% 1.6% 1.6% 1.3% 1.6% 1.1% Stock price appreciation 239.9% 45.5% 6.5% 3.1% -2.1% -16.9% -17.9%
With the last financial year result, MTDACPI made RM43.11m. Hooray! But does it mean that MTDACPI has turned around last 10 years of continued losses? Far from it, in my opinion.
First thing strikes me in the 2012 result was 2012's revenue decreased to 258m from 326 m, but the gross profit increased to 54.3m (gross margin 21%), from 18.8m (gross margin 6%) the previous year. How come? Then I read the review of financial statement by the management:
"The Group also recorded >100% improvement in pre-tax profit of RM43.11 million as compared to a pre-tax profit of RM2.0 million in the immediate preceding quarter. The improvement was attributable to write back of liquidated ascertained damages from completed projects incurred by the construction division which was booked in the previous financial year coupled with positive contributions from its overseas manufacturing units. "
Yes, the profit improvement is purely a write back of LAD. Positive contributions from its overseas manufacturing units? Where? Associates and JV? That was only 6.8m. A write back of LAD has no cost and hence the increase in the gross margin. A write back of LAD cannot be considered as a revenue and profit. It is a EO item! Worse still, is it right to book in a write back in LAD as revenue?
I could not find this EO item being excluded from the cash flow statement. There is no bloody profit or cash involved. What kind of financial statement is that? Very dangerous kind of management. Accounting shenanigan?
I don’t deny that people can make short-term profit from the market., like when the company announced turnaround profit and people start chasing the stock without going deeper into the financials. And chartists make a lot of money also, but through the greater fool theory. But those are short-term euphoria, nothing to do with fundamentals, absolutely nothing!
The stock price dropped from 8.50 to 0.27, if the company is turning around, many people are interested. At 0.545, what is the risk ?
If the next quarter result is good, the price will move up. This is called stock market.
I take the view if next quarter result is bad like losing money, I will cut loss. If next quarter result is good, the stock will fly sky high. I am taking a calculated risk, I am not gambling.
I know very well, presently the job on hand worth 1.0 billion. The chance of making money is higher than losing money. I had done my homework on this stock. I am more than willing to bet on it.
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....
divine
1,153 posts
Posted by divine > 2013-07-15 09:54 | Report Abuse
not recharging kah to move forward ? :p