MAH SING GROUP BHD

KLSE (MYR): MAHSING (8583)

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Last Price

1.72

Today's Change

0.00 (0.00%)

Day's Change

1.70 - 1.75

Trading Volume

6,254,500


11 people like this.

12,573 comment(s). Last comment by fruitcake 2 days ago

bsngpg

2,844 posts

Posted by bsngpg > 2015-05-18 19:54 | Report Abuse

As far as I know, Mahsing does not hold and manage real estate for recurring income. Therefore it is very unlikely Mahsing will have REIT for the foreseeable future.

jonatlau79

419 posts

Posted by jonatlau79 > 2015-05-20 08:24 | Report Abuse

MAH SING GROUP BHD

By CIMB Research

Add (maintain)

Target price: RM2.53

CIMB Research took Mah Sing Group Bhd’s executive director Datuk Steven Ng and senior general manager Khaw Bee Nee to meet 18 investment firms in Europe over three days in London and a day each in Dublin and Paris.

The firms’ questions focused on Mah Sing’s macro strategies regarding its recent equity and bond fund-raising, landbanking, launches and sales targets.

It said Mah Sing’s recent rights and bonds issues raised RM1.2bil for the group and brought down net gearing to zero.

Based on a comfortable net gearing ratio of 0.5 times, the research house said Mah Sing would be able to raise additional funds to buy land for about RM1.8bil.

It said the group was exploring to secure private and public joint ventures as a means of getting access to strategically-located landbank while keep landbanking costs down.

It added Mah Sing would also be striving hard to hit its 2015 sales target of at least RM3.43bil sales.

CIMB Research believed this was achievable as its target had yet to factor in the new Puchong landbank, which could turn into the group’s future flagship project given its strategic and prime location.

The research house advised investors to continue accumulating the stock.

It added that Mah Sing remained a key proxy for the Malaysian property sector and a core holding.

It said the group still provided investors with pure exposure to the property sector, with projects in all major markets, including the Klang Valley, Johor, Penang, Negri Sembilan and Sabah.

ms001118

122 posts

Posted by ms001118 > 2015-05-20 11:29 | Report Abuse

price target analysis dated when? this share not much movement for past two weeks :(

Posted by bananasplit > 2015-05-21 00:25 | Report Abuse

Time to pick up some of this shares for some good investment.

chloeC

5 posts

Posted by chloeC > 2015-05-26 11:56 | Report Abuse

Subject to the Shareholders' Approval being obtained, holders of Warrants B 2013/2018 and Warrants C 2015/2020 are advised to lodge with the Company's Share Registrar, Tricor Investor Services Sdn Bhd at the above stated address, their subscription forms and subscription monies for subscription of new ordinary shares of RM0.50 each in the Company ("Mah Sing Shares") by 5.00 p.m. on Thursday, 27 August 2015. This is to enable the new Mah Sing Shares arising from such exercise to be allotted to the respective holders in order to qualify for the dividend entitlement.

My question : does it mean holders of WB and WC is able to subscribe to new shares?

bsngpg

2,844 posts

Posted by bsngpg > 2015-05-26 12:25 | Report Abuse

My understanding: the clause is talking about conversion of WB/WC (if you want to convert) to mother shares by 27 Aug 15 for entitlement of upcoming div on 2 Sep15. Otherwise, you can choose not to convert your WB/WC and ignore the clause and your WB/WC is not entitled for dividend.

chloeC

5 posts

Posted by chloeC > 2015-05-26 12:46 | Report Abuse

has the conversion rate finalized?

bsngpg

2,844 posts

Posted by bsngpg > 2015-05-26 13:09 | Report Abuse

Finalized and you can have it from Bursa's website

bsngpg

2,844 posts

Posted by bsngpg > 2015-05-26 13:13 | Report Abuse

The convention price will be adjusted down after the upcoming bonus issue in Q3.

chloeC

5 posts

Posted by chloeC > 2015-05-26 18:14 | Report Abuse

I couldnt find it from bursa website, can u help?

bsngpg

2,844 posts

Posted by bsngpg > 2015-05-26 21:10 | Report Abuse

WB: exercise price RM1.80. Mature/expire in Mar 2018.
WC: exercise price RM2.63. Mature/Expire in Feb 2020.

dr_jogho

486 posts

Posted by dr_jogho > 2015-05-27 09:42 | Report Abuse

last year mahsing stat up from jun until sept. so now i think mahsing will stat climbing.

chloeC

5 posts

Posted by chloeC > 2015-05-27 12:42 | Report Abuse

tks for your help. appreciated...btw, the bonus will also be happened in Sep?

bsngpg

2,844 posts

Posted by bsngpg > 2015-05-27 13:57 | Report Abuse

Wait for announcement from Mahsing. I guess it would be in Jul-Aug

bsngpg

2,844 posts

Posted by bsngpg > 2015-05-27 21:06 | Report Abuse

Ex date for 1:4 bonus issue has been officially fixed on 8Jun15. Besides mother shares, WB and WC are entitled for bonus issue. Enjoy the bonus issue, pal. Cheers!

2721

2,003 posts

Posted by 2721 > 2015-05-27 21:53 | Report Abuse

wohhooo!!never disappoint me for the past four years!!!

Des2003

155 posts

Posted by Des2003 > 2015-05-28 11:01 | Report Abuse

hooray!...

chloeC

5 posts

Posted by chloeC > 2015-05-28 12:18 | Report Abuse

it means if I subscribe my warrant to mother share at 1.80 and 2.63 respectively, I can enjoy the dividend in sep but deadline on 1 Jun is a bit short. Else, I just receive the additional warrant. which is more advantage as an investor? also, if I keep the warrant until expiry date, is it mandatory that I should convert it to mother share at the exercise price above, right?

jonatlau79

419 posts

Posted by jonatlau79 > 2015-05-28 13:08 | Report Abuse

1.Dividend RM0.06
2.Bonus Issue 1 For 4
3.Improved Qtr 1 Result
What's The Target Price ?

beso

2,137 posts

Posted by beso > 2015-05-28 17:20 | Report Abuse

nowadays whatever good result, dividend or bonus also won't help, mahsing pe is already quite high, when market downturn and foreigns starting selling we shall see 1.50

bsngpg

2,844 posts

Posted by bsngpg > 2015-05-28 20:16 | Report Abuse

Eps 5.95. Let's annualize it to get 23.8. At close 2.12, PE is only 8.90. For a big cap and leading property player, PE 8.90 can be considered as cheap.

bsngpg

2,844 posts

Posted by bsngpg > 2015-05-28 20:19 | Report Abuse

DPO 40%, next year yield is forecasted as 23.8x0.4=9.52/2.12=4.49%.

bsngpg

2,844 posts

Posted by bsngpg > 2015-05-28 20:22 | Report Abuse

Adjustment factor is 4/5=x0.8. After 1:4 bonus issue on 8Jun, the closing price 2.12 will be adjusted to 2.12x0.8=1.70

bsngpg

2,844 posts

Posted by bsngpg > 2015-05-28 22:45 | Report Abuse

If the broad mkt turns to bear, Mahsing could down to 1.50 from 1.70 which is about 12% down. It is a very reasonable adjustment which could happen on PB, LPI and MBB too during bear mkt.

heavyth

848 posts

Posted by heavyth > 2015-05-30 08:49 | Report Abuse

How will bonus issue affect mahsing-wb....anyone ??

beso

2,137 posts

Posted by beso > 2015-05-30 10:06 | Report Abuse

fyi,warrant convertion price will be adjusted down accordingly

bsngpg

2,844 posts

Posted by bsngpg > 2015-05-30 10:45 | Report Abuse

I think convertion price of wb should be 1.80x4/5=1.44 and your 1000wb would become 1250wb.

heavyth

848 posts

Posted by heavyth > 2015-06-02 12:03 | Report Abuse

Thanks for the info.

2721

2,003 posts

Posted by 2721 > 2015-06-05 18:23 | Report Abuse

so next monday open price will be 1.74?

bsngpg

2,844 posts

Posted by bsngpg > 2015-06-05 19:04 | Report Abuse

Yes, theoretically it will open at 1.74. Hopefully the market gives it some premium and trades it at 1.78.

bsngpg

2,844 posts

Posted by bsngpg > 2015-06-05 19:11 | Report Abuse

Sayonana 2.10 for Mahsing. I think it will take about 2 years(2017) to go back to 2.10 with assumption that biz will grow at 15% per year and price will appreciate at 10% per year.

bsngpg

2,844 posts

Posted by bsngpg > 2015-06-05 19:14 | Report Abuse

The next exciting date is 2Sep15, the ex-date for 6.5 cents div(65/1740=3.7%). Will you wait for it ? I definitely will.

bsngpg

2,844 posts

Posted by bsngpg > 2015-06-05 19:20 | Report Abuse

According to the past trend, price of Mahsing will trade lower after bonus issue especially so with the current cold market condition. If you need money, you may sell it on Monday and buy back at lower price later.

Nevertheless I will keep it although I guess it will very likely go few % lower than 1.74 for sometimes until end Aug when ex-date of 6.5cents div comes near.

2721

2,003 posts

Posted by 2721 > 2015-06-06 08:06 | Report Abuse

Definitely won't sell, hardly to find a company with excellent CEO, consistent growth and promised dividend..I can foreseen mahsing hav a bright future, maintain the unstoppable to reward shareholder

bsngpg

2,844 posts

Posted by bsngpg > 2015-06-06 09:03 | Report Abuse

Grateful to meet fellow having exactly same view on Mahsing who hardly comes by. Hmm, "excellent CEO, consistent growth and promised dividend, bright future" all are the same main reasons for me to put in big money into Mahsing for years. One more point is that Mahsing is in resilient property industry which will have demand forever albeit may slow down during economy recession.

Welcome to Mahsing and nice to meet you.

bsngpg

2,844 posts

Posted by bsngpg > 2015-06-06 09:08 | Report Abuse

I have an opinion that price movement of Mahsing is like turtle and sometimes it makes me "beh tahan" , therefore I gave it a nickname as "TurtleSing". Do you have the same view?

2721

2,003 posts

Posted by 2721 > 2015-06-06 18:29 | Report Abuse

I don't think is slow, back to two years ago,the share price is 3smt..once foreign funds discover its value, I believe it is a RocketSing..

bsngpg

2,844 posts

Posted by bsngpg > 2015-06-06 20:29 | Report Abuse

I have been waiting for RocketSing for 5 years, come quickly please, come quickly please.

bsngpg

2,844 posts

Posted by bsngpg > 2015-06-06 20:38 | Report Abuse

In fact my first entry price was rm1.66 5 years ago. Next week, Mahsing's price will be adjusted down close to my first entry price 6 yrs ago. So from the surface, I gained nothing from share price in 6 years.

However, the true fact is that I have made 15% CAGR after factoring in the 3 times bonus issue, 2 times right and warrant issues. The real return is not far from those of Warren B. Fantastic.

bsngpg

2,844 posts

Posted by bsngpg > 2015-06-06 20:47 | Report Abuse

There is a quote that "Boring stock brings you big return quietly". Mahsing is definitely fit to this quote.

bsngpg

2,844 posts

Posted by bsngpg > 2015-06-06 20:51 | Report Abuse

One of the famous quote by the renown Len Yan is "Let sweet potato grows quietly beneath the ground till its full size". Mahsing is certainly one of the said sweet potato.

knet87

13 posts

Posted by knet87 > 2015-06-11 14:27 | Report Abuse

can entry now?

bsngpg

2,844 posts

Posted by bsngpg > 2015-06-11 22:02 | Report Abuse

Very sad that history repeats itself where Mahsing dropped below the ex price after bonus issue as predicted earlier. I guess it will drop for few more cents. Sigh, I made a BIG loss today on Mahsing. Nevertheless I have confident that it will rebound back to 1.74 and higher in couple months.

Will I buy more? No as my portfolio has been overloaded with Mahsing.

Will I sell some? No as I treat it as a shop which generate good rental.

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Posted by bsngpg > Jun 5, 2015 07:20 PM | Report Abuse X

According to the past trend, price of Mahsing will trade lower after bonus issue especially so with the current cold market condition. If you need money, you may sell it on Monday and buy back at lower price later.

Nevertheless I will keep it although I guess it will very likely go few % lower than 1.74 for sometimes until end Aug when ex-date of 6.5cents div comes near.

guanteik

183 posts

Posted by guanteik > 2015-06-14 21:50 | Report Abuse

To me, Mahsing is still a cheap counter compared to many Construction stocks. It's a normalizing time right now, so you cannot expect to earn immediately after the bonus/split. Just hold on, least you are getting its dividends which isn't too bad.

dr_jogho

486 posts

Posted by dr_jogho > 2015-06-15 11:22 | Report Abuse

Mahsing on track

Amnota

71 posts

Posted by Amnota > 2015-06-17 12:55 | Report Abuse

Mahhsing still going strong.

tai yee

697 posts

Posted by tai yee > 2015-06-19 10:58 | Report Abuse

Still can buy?

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