With 60% dividend policy and even if every qtr EPS 10 cents , 24 cents dividend will value MBMR at 24/15 x rm3.93=rm6.29 . That's the minimum might go higher than that.
recent drop due to people expect a lower QR compare to previous. However cannot compare with previous QR (because there is a one off gain). If this coming QR can achieve about EPS10-12++ good enough.
restatement of UMW financial statement for 2nd qtr of RM27m would not have much effect on MBMR, 27m x 20% =RM5.4m which translate to 5.4/390=0.0138 (EPS of1.38 cents ) only which is less than 2 cents
UMW revises Q2 results Last update: 20/11/2019 KUALA LUMPUR, Nov 20 -- UMW Holdings Bhd has revised its second quarter (Q2) ended June 30, 2019 results as it had inadvertently omitted an elimination for the reversal of provision for a financial guarantee amounting to RM27 million in the earlier results announcement.
This has given rise to an adjustment being made to the group’s profit before taxation from RM179.1 million, as disclosed in the earlier announcement on Q2 results dated Aug 27 to RM152.1 million under the revised financial results.
In an announcement on Bursa Malaysia today, UMW said relevant consequential amendments to Q2 results have also been made accordingly, where its profit after tax and minority interests (PATAMI) for Q2 2019 is now adjusted from RM84.2 million to RM57.2 million. We’re cutting you a deal. The Great British Deal. Sponsored by MINI Malaysia
The Q2 2019 earnings per share was also adjusted from 7.21 sen to 4.90 sen.
“The board, via its Audit Committee, wishes to emphasise that it views the incident seriously and has instructed the management to conduct an in-depth review of all processes to ensure that sufficient controls are in place.
“The management has also taken immediate steps to strengthen the group’s financial disclosures to ensure such incidents do not recur,” the company said.
The company assured that this incident relates to a singular item and does not affect the accuracy of any other published announcements.
“UMW is fully dedicated to its responsibilities as a public listed company and committed to continue upholding best practices in corporate disclosure,” it added.
In a separate announcement, UMW reported a revised Q2 net profit was RM57.19 million compared to RM124.38 million in the same period last year.
Previously, it announced a Q2 net profit of RM84.19 million.
For the six-month period ended June 30, 2019, its net profit was revised down to RM143.69 million from a higher profit of RM170.691 million announced previously.
Hafid UMW revises Q2 results Last update: 20/11/2019 KUALA LUMPUR, Nov 20 -- UMW Holdings Bhd has revised its second quarter (Q2) ended June 30, 2019 results as it had inadvertently omitted an elimination for the reversal of provision for a financial guarantee amounting to RM27 million in the earlier results announcement.
This has given rise to an adjustment being made to the group’s profit before taxation from RM179.1 million, as disclosed in the earlier announcement on Q2 results dated Aug 27 to RM152.1 million under the revised financial results.
In an announcement on Bursa Malaysia today, UMW said relevant consequential amendments to Q2 results have also been made accordingly, where its profit after tax and minority interests (PATAMI) for Q2 2019 is now adjusted from RM84.2 million to RM57.2 million. We’re cutting you a deal. The Great British Deal. Sponsored by MINI Malaysia
The Q2 2019 earnings per share was also adjusted from 7.21 sen to 4.90 sen.
“The board, via its Audit Committee, wishes to emphasise that it views the incident seriously and has instructed the management to conduct an in-depth review of all processes to ensure that sufficient controls are in place.
“The management has also taken immediate steps to strengthen the group’s financial disclosures to ensure such incidents do not recur,” the company said.
The company assured that this incident relates to a singular item and does not affect the accuracy of any other published announcements.
“UMW is fully dedicated to its responsibilities as a public listed company and committed to continue upholding best practices in corporate disclosure,” it added.
In a separate announcement, UMW reported a revised Q2 net profit was RM57.19 million compared to RM124.38 million in the same period last year.
Previously, it announced a Q2 net profit of RM84.19 million.
For the six-month period ended June 30, 2019, its net profit was revised down to RM143.69 million from a higher profit of RM170.691 million announced previously.
Hahahahaha! Awesome results. TA analyst can go fly kite predicting this quarter's earnings of only 35-45mil, causing many to sell this stock. This quarter's earnings are way better than analyst predicted. Thank you all for selling today!
's earnings should be boosted in the final quarter of the year on the back of year-end sales and the inclusion of the Perodua Axia facelift deliveries, says RHB research.
According to the research house, Perodua has received over 20,000 bookings and delivered 10,400 units of the facelift model since launching it in mid-September.
Meanwhile, MBM's Volvo sales are also expected to do well with its wider range of products at a more competitive pricing.
"We increase our FY19F-21F earnings slightly by 5%, 2% and 2% respectively, imputing a more optimistic margin assumption," said RHB.
It maintained its buy rating on the stock with a target price of RM4.95.
For 3Q19, MBM posted core earnings of RM56.2mil, which was 38.4% higher year-on-year (y-o-y) and 3.6% higher quarter-on-quarter (q-o-q).
With a cumulative 9M19 core net profit of RM151mil, the earnings was within RHB's estimates but above consensus expectations at 75% and 80% of full-year forecasts respectively.
Perodua's associate contribution in the quarter improved 37% y-o-y and 7.9% q-o-q, likely due to higher sales volume and better product mix, said RHB.
The motor trading division also performed better, in tandem with stronger sales volume of MBM related brands, it said. TOPIC:
MBM Resources (MBM) reported another strong set of results – 9M19 core net profit rose by 24% yoy to RM151m on higher revenue (+14% yoy) and higher associates and JV contributions (+25% yoy). we raise our EPS by 23-32% for 2019-21E, and maintain our BUY rating with a higher TP of RM6.00 (from RM4.55). At 6x 2020E PER, MBM’s valuation looks attractive.
MBM Resources Bhd’s net profit rose 46% year-on-year (YoY) to RM55.76 million in the third quarter ended Sept 30, 2019 (3Q19), supported by higher revenue recorded during the period.
The automotive group’s revenue increased 11.6% YoY to RM515.32 million in 3Q19, helped by higher contribution from its motor trading segment.
Revenue from the group’s motor trading segment climbed 12.3% YoY or RM51.2 million to RM468.5 million during the quarter.
Mahathir need to go if KLSE to prosper like before he took over, he and his Muslim agenda not in favour by foreign funds that the main reason they are exiting like never before.
New IPO: The onshore and offshore support services provider for the O&G industry, Steel Hawk Bhd aims to list on the Ace Market!
MQ Trader 3111 views | 3 d ago
0:17
New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
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....
MasterYoda
975 posts
Posted by MasterYoda > 2019-11-08 16:49 | Report Abuse
Ok GLNT,hope the price will crash so i buy low price ;)