Posted by bsngpg > 2014-11-28 21:11 | Report Abuse

Thks keanpoh.
Yes!!! FV at RM 2.90 by credit Suisse. Nevertheless, I will not sell at 2.90 as long as its biz performance keeps the same momentum.

Posted by bsngpg > 2014-12-03 07:01 | Report Abuse

many properties counters dropped significantly along with the correction of KLCI. But why not our beloved tortoise Mahsing? There must be a good reason behind it, isn't it?
Those who like to critic the sleeping tortoise movement of Mahsing, why don't you critic for its slow drop as well?


In fact, I have prepared fund waiting for its big drop along with the Index so that I can buy more to take double advantages on the panic selling and the discount from the upcoming Right issue. Unfortunately, it dropped like tortoise. Will it catch up the significant "Drop" in the next few days?

Posted by ahlek888 > 2014-12-04 22:39 | Report Abuse

the float too low is it? or foreign ownership very little, that's why least impacted?

Posted by beso > 2014-12-04 23:28 | Report Abuse

when foreign fund start selling you will know what is the impact.
The Wall Street Journal reported that the kingdom is forecasting that crude prices will drop as low as $60 per barrel before stabilizing.

Posted by des2003 > 2014-12-05 23:39 | Report Abuse

EPF keeps disposing Mah Sing shares, no wonder its price keep pressing downwards

Posted by bsngpg > 2014-12-06 07:53 | Report Abuse

I read 2.20-2.30 as a very normal fluctuation and not a pressed down. In fact I am waiting for pressed down price so that I could accumulate much more. I personally rate Mahsing as a 5 stars company, therefore it is quite safe to buy more at lower price and take double advantages from the significant discount on the upcoming right issue and free warrant.

Posted by jasgrafix > 2014-12-16 01:21 | Report Abuse

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1825641

Posted by HowIn > 2014-12-16 10:20 | Report Abuse

why today from 2.02 so fast recover? who so good go absorb all the share..

Posted by jasgrafix > 2014-12-18 01:02 | Report Abuse

http://www.thestar.com.my/Business/Business-News/2014/12/17/Mah-Sing-among-Nomura-top-picks-in-Asean-Report-Property-developer-is-expected-to-offer-above-averag/?style=biz

Malaysia's Mah Sing among Nomura top picks in Asean

PETALING JAYA: Property developers Mah Sing Group Bhd and Thailand’s Quality Houses (QH) are Nomura Research’s Asean property yield picks that are expected to offer above-average yields and dividend growth in 2015 and 2016.

In a report on Asean property, it identified three out of the 28 property stocks, including 11 real estate investment trusts (Reits), that it covered which fulfilled two conditions.

The conditions are that the stock’s 2015 forecast dividend yields would be higher than the market’s as well as the sovereign 10-year bond yield, and that the dividend per share (DPS) or unit (DPU) is projected to grow faster than the market in 2015 and 2016 forecasts.

It said that the report “aims to identify candidates amongst property stocks under our coverage in Asean for income-focused investors that are still looking for dividend yield ideas.”

Setting a RM3 target price for Mah Sing with a “buy” call, Nomura said its 2015 forecast yield was 5% versus the KLCI’s 3.6% and Malaysia’s 10-year bond yield of 4.2%.

Additionally, it said Mah Sing’s forecast DPS for 2015 and 2016 were projected to grow 22.2% and 27.3% respectively, versus the KLCI’s 6.8% and 7.2% respectively.

“The projected growth in dividend is underpinned by unbilled sales of RM4.8bil, which should drive earnings to expand 22% (compound annual growth rate) over financial years 2013 to 2016 forecast,” it said.

As for QH, which has a target price of 4.40 baht and a “buy” call, Nomura said it had a projected 2015 forecast yield of 4.8% versus Stock Exchange of Thailand’s (SET) 3.4% and Thailand’s 10-year yield of 2.8%.

Its DPS is projected to grow 12.5% and 16.7% in 2015 and 2016 versus the SET’s 11.4% and 12% respectively, underpinned by high earnings visibility due to resilient real demand for landed housing.

Nomura noted that Sunway Reit was its third stock that met the two conditions but retained its “neutral” call as it believed the robust DPU growth forecast in 2015 and 2016 was already largely reflected in the unit price.

It also noted that none of the Singapore Reits it covered managed to qualify on account of overall pedestrian DPU growth in 2015 and 2016 forecasts (average 1.5% to 1.6%).

Meanwhile, RHB Research downgraded the Malaysian property sector to “neutral”, expecting property transaction volumes to decline 3% to 5% in 2015 on the back of slower economic growth and a high loan rejection rate.

It also anticipated property prices to remain flat as developers would have difficulty passing on incremental costs during weakening demand, while all parties would be likely to adopt a wait-and-see stance as the impact of the goods and services tax kicked in.

“For the stocks under our coverage, we estimate new sales to drop by an average 10% to 20% year-on-year (y-o-y) versus -25% y-o-y in 2014 and +41% y-o-y in 2013,” it said.

RHB Research maintained “buy” on Tambun Indah Land with a reduced target price of RM2, noting that affordable housing players should fare better while the company’s fundamentals remained solid with zero gearing.

It downgraded Eastern & Oriental, UEM Sunrise and UOA Development to “neutral” with respective target prices of RM2.27, RM1.65 and RM1.84 respectively.

It downgraded Glomac to “sell” with a lower target price of 88 sen (6.5% downside), as it believed management’s 2015 (April) new sales target of RM504mil was a tall order given new launches would likely be delayed into the first quarter.

Posted by dragonfruits > 2014-12-19 11:49 | Report Abuse

So stingy company earn so much give so little to investor

Posted by funitec > 2014-12-19 15:02 | Report Abuse

Yeah, management taking the cake, only crumbs thrown to small shareholders. So some birds fly.

Posted by bsngpg > 2014-12-19 15:08 | Report Abuse

Mahsing said about 40% of the net profit will be distributed as dividend. This info is extracted from annual report.

Posted by Ng MC Angie > 2014-12-29 18:43 | Report Abuse

But share is not up

Posted by bjaya > 2015-01-05 20:59 | Report Abuse

Look like cash (USD) is king now

Posted by Peter Chen > 2015-01-06 14:33 | Report Abuse

Malaysia Corporate Princess Ranking 2014
2014年马来西亚企业公主排名
http://aseantradinglink.blogspot.com/2015/01/malaysia-corporate-princess-ranking-2014.html

Posted by bsngpg > 2015-01-10 13:59 | Report Abuse

10000 mother shares : 3000 right : 900 W. In order to avoid odd unit either in mother, right or free warrant, you are advised to have 10k mother shares.

Posted by bsngpg > 2015-01-10 22:34 | Report Abuse

Although I have vested interest in Mahsing, I still would like to say that the upcoming RI + free warrant(WC) is in fact NOT ATTRACTIVE for new investors.

Why ?

Example: 10K mother @2.30=RM23K, 3K Right@1.42=RM4.26K. After the right, the cost is RM2100/1K units (23K+4.26K/13K). The free warrant (WC) has an exercise price at RM2.63 making it very little in market value. WC will be very likely traded at 0.10-0.15 if taking clue from the market value and exercise price of the current WB at 0.295 & RM1.98 respectively. Worst still the entitlement is only 900 units =RM90-RM135 which is negligible.

Theoretically, the market price of mother share will adjust downward to reflect the enlarged base (diluted eps). Let's assume it will be traded at RM2.15 after right issue, the extra earning from this exercise is 50/2100=2.4% only. Not to forget that the market may adjust the price lower than 2100, ending with 偷鸡不成蚀把米.

Therefore, if I am new and want to invest into Mahsing, I would do so only after the right issue.

Posted by bsngpg > 2015-01-11 15:27 | Report Abuse

My understanding: There is no impact on exercise price of WB from the right issue and WC. But after the 1:4 bonus issue in Q3, the rm1.98 will be adjusted to 1.58.

Posted by KS_99 > 2015-01-13 10:31 | Report Abuse

I got 1200 shares. So I need to subscribe 360 right issue which is RM 511.2. Then, I will also get 108 warrant right?
May I know how to convert the warrant to the mother share? how much should I add on to convert it? When can i convert the warrant? When we will get the right issue share and warrant?

Posted by cytew > 2015-01-14 15:21 | Report Abuse

The exercise price of WB will be adjusted to about RM 1.45 after right and bonus issues.

Posted by beso > 2015-01-20 21:35 | Report Abuse

very good point from bsngpg but where to get the WC exercise price at RM2.63? anyone pls.

Posted by bsngpg > 2015-01-20 22:55 | Report Abuse

RM 2.63 was taken from circular on rights issue published on Bursa' web.

Posted by Ng MC Angie > 2015-01-21 11:35 | Report Abuse

Aft right , price will drop to how much, anyone gd in culcalation can pls let know, tqvm

Posted by cytew > 2015-01-21 17:33 | Report Abuse

should drop below RM 2.0

Posted by beso > 2015-01-21 19:36 | Report Abuse

so，tomorrow mahsing ex right price will be 2.25*10+1.42*3+2.63*3*3/10=2.09 but expect to drop more…

Posted by Ng MC Angie > 2015-01-21 21:26 | Report Abuse

Is it tmr sell, than no more entitlement for right? Anyone who know can tell?

Posted by bsngpg > 2015-01-21 22:16 | Report Abuse

You have entitled the Right and free wa at 5pm today. You can sell at 9am tomorrow and the right and WC are still yours. Nevertheless tomorrow morning Mahsing will start trading at much lower than 2.25 being adjustment for the right.

Posted by Beautiful Cloud > 2015-01-21 22:19 | Report Abuse

Mah Sing facing cashflow problem....bkful

Posted by bsngpg > 2015-01-21 22:22 | Report Abuse

Not true

Posted by addylee > 2015-01-21 22:53 | Report Abuse

a strong fundamental company ..definitely volume will come soon after right issue ..going to pump in this few days.

Posted by bsngpg > 2015-01-22 07:05 | Report Abuse

Agree that it is a strong company. However basing on historical trend, I do not think volume will come after right and bonus. I also do not think there will be a "pump" activity.

GLC mops up the added free shares from open mktg is possible as they always aim to take over excellent property company. Thing happened on sunrise and sp, can repeat on Mahsing. I stand by Mr Leong, hopefully he will no make any mistake opening door for them to come in.

Posted by nanaour > 2015-01-22 09:54 | Report Abuse

Mahsing-cv still cheap?

Posted by allan88 > 2015-01-23 19:27 | Report Abuse

Market is positive with mashing's right issue with the stock price movement. Keep it up.

Posted by spec9888 > 2015-01-26 20:24 | Report Abuse

Tomorrow start to trade the right, hopefully it start with a good price

Posted by fong7 > 2015-01-28 03:48 | Report Abuse

RI at 1.43? hmm....maybe try to pick up at 1.60-1.70...

Posted by dr_jogho > 2015-01-28 12:01 | Report Abuse

at RM2.00 is support point for mahsing

Posted by ray81 > 2015-01-28 15:01 | Report Abuse

seems mahsing get hits badly..what is the story....as it goes down..the price attracts me to buy....what is the thought the investor here....

Posted by Ng MC Angie > 2015-01-28 22:43 | Report Abuse

Price drop now???

Posted by nsyee28282828 > 2015-01-29 18:25 | Report Abuse

can buy the OR at 47.0cts, then subscribe RI@1.42, Cheaper compare to buy the Mother share direct at 1.95? total cost=1.89 only

Posted by bsngpg > 2015-01-29 19:12 | Report Abuse

I am waiting. If the mktg does not go up, people will dump OR at the last day at cheaper price. But if the mktg rebounces in the next few days, the mother and OR will up in tandem. If it rebounces, then just let go the opportunity loh. Good luck.

Posted by truthseeker1 > 2015-01-30 12:23 | Report Abuse

Will Mah Sing escape anticipated property market slowdown?

Posted by meiling1990 > 2015-01-30 16:33 | Report Abuse

MAHSING gogogo....

Posted by HowIn > 2015-02-02 22:04 | Report Abuse

wondering why the WB still trade at so expensive 0.3++.. mother share already below RM2..
izit everyone already forget the exercise price is RM2??

Posted by rlch > 2015-02-04 11:30 | Report Abuse

Heavy selling on OR seen today. Buying OR plus RI RM 1.42 is still trading at discount to Mah Sing price plus entitle free warrant.

Posted by bsngpg > 2015-02-04 12:52 | Report Abuse

I have bought OR till the last cent of my fund. Sometimes just need to bet big.

Posted by HowIn > 2015-02-04 13:26 | Report Abuse

OR already drop to 0.4.. worth to buy?

Posted by cck8999cck8999 > 2015-02-04 14:17 | Report Abuse

what is the exercise price n period of the new warrants ?

Posted by bsngpg > 2015-02-04 20:45 | Report Abuse

Rm2.63 for 5 yrs.

Posted by nsyee28282828 > 2015-02-05 14:40 | Report Abuse

those who bought OR@40cts seem made a correct decision, mother share going up now

Posted by bsngpg > 2015-02-05 21:14 | Report Abuse

0.415+1.42=1.84. 10 lots=RM18,400 and comes with 3 free WC.
Assumes mktg value of WC at 12 cents. 3 WC x 120=RM360.

If the today's close(RM1.99) sustains till receiving the new share and WC, the mktg value would be RM19,900 + RM360=RM20,260

Profit = RM1860(=10% profit).

Attractive "chicken stealing" mission.