Malakoff is also exploring renewable energy (RE) projects domestically, in line with the government’s aim to increase the proportion of RE to 20% of Malaysia’s energy generation mix by 2025. “The group has set an RE target of 1,000MW for the medium term. We gather the group will be participating in Johor’s WTE plant bid. Currently, the group has 29MW of RE capacity
MMC already moved up...next should be Malakof turn. This few days heavy volume means someone has been accumulating Malakof, a real sign more active trading with an upside bias coming soon.
Malakoff Corporation Bhd (Trading Buy) • MALAKOF is an independent power and water producer whose core businesses include power generation, water desalination, operations & maintenance and waste management and environmental services.
• The Group has reportedly submitted its bid for the government’s fourth large-scale solar programme (LSS4) which consists of various packages of solar energy generation capacity (totalling 1,000MW) worth RM4b.
• After posting net earnings (from continuing operations) of RM286.6m (+4% YoY) in FY Dec 20, consensus is projecting MALAKOF’s bottomline to come in at RM326m in FY21 and RM343m in FY22. This translates to forward PERs of 13.0x this year and 12.3x next year, respectively (which are between -2SD and -1SD below its historical mean).
• An added positive is its attractive dividend yields of 6.9%-7.3% based on consensus DPS forecasts of 6.0 sen for FY21 and 6.3 sen for FY22.
• From a charting perspective, a technical rebound could be forthcoming following a 15.2% tumble in the stock price from RM1.02 in the later part of August last year to close at RM0.865 yesterday.
• With the momentum indicator just cutting above the zero line and still rising, MALAKOF shares (which inched up 3% on relatively strong volume yesterday) will likely turn up towards our resistance levels of RM0.95 (R1; 10% upside potential) and RM1.02 (R2; 18% upside potential).
• Our stop loss price is set at RM0.79 (representing a 9% downside risk).
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....
kelvinfixx
1,237 posts
Posted by kelvinfixx > 2021-02-22 12:11 | Report Abuse
drop or not, continue to collect if you want to.