Its free money for those who have waited 1 hour longer. Now that i can only hope for it to rebound til perhaps 1.25 to break even never thought it would drop so sharply at one point also shred 15% of the stock price. To those who got in at 1.12 or 13 14 its just free money .
Whoever buying must be never read the quarterly report. Mitra is running out of CASH (40 millions compared to last quarter 58 millions, cash is decreasing every quarter), theyhave 237 million SHORT TERM DEBT + 31 million long term debt. Jesus, RM 270 millions debt
Prospects Mitrajaya has secured two major projects, collectively worth RM433.9 mln in 2Q2017. This brings its construction orderbook replenishment to RM617.3 mln YTD (see Appendix 1) – amounting to 77.2% of our orderbook replenishment target of RM800.0 mln for 2017. We are positive on the group’s prospects and to achieve the aforementioned target, based on the group’s tenderbook of approximately RM3.00 bln, comprising of 90.0% for building projects and the remainder 10.0% for infrastructure works. Moving forward, we think that the construction segment will continue to anchor the group’s earnings, backed by a relatively strong unbilled construction orderbook of RM1.42 bln. This translates to an orderbook-to-cover ratio of 1.7x to 2016 construction earnings of RM843.5 mln that provides earnings visibility over the next three years. Although the construction segment earnings pretax margins has tapered to 4.3% in 1H2017 (vs. 12.6% in 2016), we think that it should normalise as the group adjust to the one-off expenses in certain projects that saw cost overrun in 2Q2017.
Ssamani, if I am not wrong, EPF actually brought majority of their shares at 1.4x before ex-dividend.
One project cost overrun, I don't think reaction should be so big la. Main issue is whether can they secure more projects to replenish the group orderbook.
Presently, the technical price indicators do not support any price reversal towards the positive after the recent sell-down just after the 2QR. 2.On the price charts,the short term SMA15 is moving way below the long term SMA 26.Will expect some further downside on the stock price to come. 3.The MACD momentum chart showed weak price support trend and movement.The MACD line is way below the Signal line. 4.And the stochastic and RSI 14 charts confirm the weak price support as above..As the RSI 14 line showed the stock is oversold recently.No signal for any buying yet unless the trading volumes shrinked during the present price weakness. 5.This is a laggard counter.During good QR like in 1QR the price does not move much from its low high reached as compared to other construction stocks like Kerjaya Prospek or Gadang where the price gains or booms.
Outcome: The stock price will consolidate for awhile and very dependent on the next QR and securing more new projects to replenish the contract on hands book order.Technical Price Indicators can help forumers or investors in buying or selling decision making. Cheers and hope the North Asia geo-political risks stabilised.
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Posted by notebook > 2017-08-29 13:49 | Report Abuse
cash tak banyak , hutang banyak
drop more , until below RM 1