OTHERS Malakoff Corporation Berhad ("MCB" or "Company") - Notices of Assessment issued by the Inland Revenue Board of Malaysia ("IRB") to Kapar Energy Ventures Sdn Bhd ("KEV"), a 40%-owned associate of MCB MALAKOFF CORPORATION BERHAD
Type Announcement Subject OTHERS Description Malakoff Corporation Berhad ("MCB" or "Company") - Notices of Assessment issued by the Inland Revenue Board of Malaysia ("IRB") to Kapar Energy Ventures Sdn Bhd ("KEV"), a 40%-owned associate of MCB We refer to our announcements dated 5 November 2021, 16 November 2021, 26 November 2021, 11 February 2022, 28 June 2022, 18 August 2022 and 13 September 2022 (collectively “Announcements”) in relation to the Notices of Assessment issued by IRB against KEV. Unless otherwise stated, the terms used herein shall have the same meaning as defined in the Announcements.
The High Court has vacated the hearing for KEV’s application of leave for Judicial Review scheduled on 24 November 2022 due to an ongoing out-of-court settlement between KEV and the IRB. The High Court has fixed a case management date on 3 January 2023 to update the High Court on the outcome of the out-of-court settlement.
Further, taking into consideration the abovementioned new case management date of 3 January 2023, the High Court has correspondingly granted an extension of the interim stay on the enforcement of the Notices of Assessment until 3 January 2023.
This announcement is dated 24 November 2022.
Announcement Info Company Name MALAKOFF CORPORATION BERHAD Stock Name MALAKOF Date Announced 24 Nov 2022 Category General Announcement for PLC Reference Number GA1-24112022-00054
Dividend Payable Announcement on the final dividend for the financial year ended 31 December 2022 will be made upon the finalisation of the Audited Financial Statements in March 2023
Raiz, good call. I think that's a good spot to accumulate. Perhaps 50:50 chance that support there may be broken, since Malakoff hasn't have a worse quarterly loss like this since listing, so, maybe better than 50:50 chance to make a new low.
Analysts have TP higher than current price, ranging from 77 sen to 95 sen. I think they are too optimistic. So, expect price to go down. Dividends will have more than 50:50 chance of being cut, because if include the perpetual sukuk, then, payout ratio past 5 years will have been far above threshold already.
1Q23 EPS of -2.03 was clearly a terrible result. Never in its last 8 years history has 1Q earnings been negative. As a result of the negative earnings, TTM EPS is only 2.63. Assuming 90% payout ratio, this suggests dividend of say 2.4 sen, a huge drop from prior year 5.25 and would be a record low payout for MALAKOF. As a dividend investor, I am disappointed with 1Q results. My guess is the traditional 2nd quarter dividend will be nil.
Soon9913, likely MALAKOF over bought coal and increased its inventories in Q4 as coal prices was rising and peaked before the 60% price crash. Some analysts thinks this lower ACP will spill over into Q2/23. Hence Q2 is expected to be soft which means likely Q2 dividend will be nil in light of Q1 loss of 2 Sen. Bad Q4 mistake by MALAKOF management.
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....
nicholas99
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Posted by nicholas99 > 2022-12-01 11:45 | Report Abuse
haha..