MBM RESOURCES BHD
KLSE (MYR): MBMR (5983)
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Last Price
5.30
Today's Change
-0.01 (0.19%)
Day's Change
5.30 - 5.31
Trading Volume
66,000
Financial
T4Q
31-Mar-2021
2020
31-Mar-2021
2019
31-Mar-2021
2018
31-Mar-2021
2017
31-Mar-2021
Total assets
238
-1.64%
1000
+11.55%
110
+81.66%
900
-13.16%
600
+235.36%
Total current assets
238
1000
110
900
600
Cash & equivalents
238
1000
110
900
600
Short term investments
238
1000
110
900
600
Total receivables, net
238
1000
110
900
600
Accounts receivable - trade, net
238
1000
110
900
600
Other receivables
238
1000
110
900
600
Total inventory
238
1000
110
900
600
Inventories - work in progress
238
1000
110
900
600
Inventories - progress payments & other
238
1000
110
900
600
Inventories - finished goods
238
1000
110
900
600
Inventories - raw materials
238
1000
110
900
600
Total non-current assets
238
1000
110
900
600
Long term investments
238
1000
110
900
600
Note receivable - long term
238
1000
110
900
600
Investments in unconsolidated subsidiaries
238
1000
110
900
600
Other investments
238
1000
110
900
600
Net property/plant/equipment
238
1000
110
900
600
Gross property/plant/equipment
238
1000
110
900
600
Accumulated depreciation, total
238
1000
110
900
600
Deferred tax assets
238
1000
110
900
600
Net intangible assets
238
1000
110
900
600
Other current assets, total
238
1000
110
900
600
Total liabilities
238
-1.64%
1000
+11.55%
110
+81.66%
900
-13.16%
600
+235.36%
Total current liabilities
-238
-1000
-110
-900
-600
Total non-current liabilities
-238
-1000
-110
-900
-600
Long term debt
238
1000
110
900
600
Long term debt excl. lease liabilities
238
1000
110
900
600
Capital and operating lease obligations
238
1000
110
900
600
Provision for risks & charge
-238
-1000
-110
-900
-600
Deferred tax liabilities
-238
-1000
-110
-900
-600
Other liabilities, total
-238
-1000
-110
-900
-600
Total equity
-238
-1.64%
-1000
+11.55%
-110
+81.66%
-900
-13.16%
-600
+235.36%
Total liabilities & shareholders' equities
238B
1000B
110B
900B
600B
Total debt
238
1000
110
900
600
Book value per share
-238
-1000
-110
-900
-600
Discussions
3 people like this. Showing 50 of 2,406 comments
The cash reserve is going down, also notice after flipping back all 4 qr for 2023 that they are net - ve OCF this year, last year was +ve ocf, might Wana proceed with caution
2024-02-29 16:44
Kenanga gave a forecast of Outperform/Buy & TP at RM5.80.
TA gave a forecast of Sell & TP at RM4.36.
RHB-OSK gave a forecast of Hold & TP of RM4.10.
AmInvest gave a forecast of Hold & TP at RM4.50.
If you read all their reports, the qualitative comments differ but the quantitative comments are quite the same meaning, how many Perodua cars/vehicles projected sale for year 2024 & 2025 are similar in numbers.
Yes, maybe the difference is +/- 5% to 10%.
But, still Perodua is still going to make immense amount of profits & so is MBMR going to making these immense amount of profits because Perodua cars/vehicles are the No.1 selling cars/vehicles in Malaysia for many years too.
So, if you look their projected TPs from RM4.10, RM4.36, RM4.50 to RM5.80 (Range of RM4.10 to RM5.80 - the difference is 5.80-4.10/4.10 = 1.70/4.10 = 41.46% which is a vast difference.
Moving forward let us see which one of the above esteemed IBs' TP Projection including forecast of "Sell", "Hold" & "Outperform/Buy" is correctly forecasted.
As for me, I tend to take Kenanga's forecast of "Outperform/Buy" with TP of RM5.80 because at EPS of 85.56 ct &
even, if taking MBMR's PE of 6.5, its share price is (85.56 x 6.5 = RM5.56), which is near to Kenanga's TP of RM5.80 and also it is slightly higher than the NTA of RM5.45.
The above is merely based on MBMR's business model & its investment holding in Perodua.
2024-02-29 21:09
New CEO since January this year may want to make his mark, dividend announcement in April should be for at least 6 sen to bring total for 23 above that for 22 so I guess somewhere between 6 and 12 sen. With current PE of around 6 and yield close to 10% I also have a target price closer to Kenaga's at RM 5.40
2024-03-01 07:15
KUALA LUMPUR, March 27 ― In a post on X, formerly known as Twitter, Minister of International Trade and Industry Datuk Seri Tengku Zafrul Abdul Aziz said that Perodua has been chosen as the lead car brand to produce affordable Electric vehicles (EV) under the New Industrial Master Plan 2030.
He reiterates that the 2025 timeline for Perodua to produce affordable EVs is still on after meeting with senior Perodua executives, including president and CEO Datuk Seri Zainal Abidin Ahmad, to find out where the company is on their EV development and how the government can help to make the affordable EV dream a success.
Perodua also was reported developing the prototype EV with an international car partner, whose name was not disclosed. It is worth noting that the 2025 timeline for the Perodua EV introduction will be around the time the RM100,000 price cap for imported CBU EVs under Miti’s Franchise AP policy expires.
The company have previously shared a concept design of an EV called the Electric Motion Online (EMO) which was shown as a scale model back in May 2023 at the Malaysia Auto Show 2023. The EMO concept is a Myvi-sized vehicle with a reported 50kWh battery, with a range of 350 km on a single charge.
The question is ― where is Proton in the conversation? Will Perodua be the sole affordable EV manufacturer under the NIMP 2023 plan and Proton be positioned as a more premium option for Malaysians? Or will Proton enter the conversation at a later stage? ― SoyaCincau
https://www.malaymail.com/news/malaysia/2024/03/27/tengku-zafrul-perodua-to-launch-first-ev-by-2025-as-production-leader-for-affordable-evs-in-malaysia/125773
2024-03-27 20:36
i think MBMR's value grow in tandem w SIME's recent announcement. now, the price exceeded TP. unless i'm wrong. pls fill in.
2024-04-04 10:10
MBMR...added average @4.00...rationally should be
around
#5.00/5.50.🤓
1 month ago.
EV coming...Price Range...@6.20/7.20...🤠
2024-04-04 19:16
MBMR closed 4.88, +2.95%. Nice. Thanks to MBMR plus 23 other green stocks to offset the 9 red stocks, my portfolio made a new all time high again today. The paper gains on this stock is now 3 times my largest ever trading gains, simply because of Position Sizing. I typically trade much smaller size than my investing size and it is the sitting and doing nothing that delivers the biggest gains for me when we are in a bull market like MBMR. Sit tight and enjoy the ride.
2024-04-04 22:55
MBMR continues to edge higher. +4.93, +1.44% today. Nice. Thanks to MBMR plus 22 other green stocks to offset 12 red stocks, my portfolio made new all time high again today!
2024-04-08 23:16
Today's announcement of proposed final dividend of 15ct in respect of FY' ending 31-12-23,
Another announcement is share buy back up to 10% of the total shares issued.
EPS of 85.56 ct with total dividend of 39ct (paid) plus 15ct (proposed) = 54ct.
54ct/85.56ct = 63.11% which exceeds the dividend policy of 60.0%.
Hopefully, investors and public realize this gem company & IBs stating TP of MBMR at RM4.13 or RM4.36 may need to rethink, and only Kenanga's latest TP at RM5.80 shows its understanding of this gem company.
2024-04-19 19:36
thats why need shareholder approveal ? cos exceeded dividend payout policy
2024-04-20 19:05
MBMR closed new all time high!
Thanks to MBMR, CSCSTEL and all other green stocks offsetting red stocks, my portfolio made new all time high again today.
Hope everyone made nice monies today! Congrats!
And thank-you Mr Market!
2 months ago
MBMR Monthly Positive Pivot Point Momentum!
S1: 4.60.
PIVOT: 4.90.
R1: 5.40.
R2: 6.20.
Fair Value range...#6.00/6.50!?
Dis: Trade at your own Risk!
2 months ago
HLIB Report:
A strong start
MBMR reported core PATMI RM80.3m for 1QFY24 (-15.6% QoQ; +0.4% YoY), above HLIB’s expectation (32.4%) and consensus (31.9%). We expect MBMR to continue leveraging on strong Perodua sales in the coming quarters as Perodua’s management guided for sales target to sustain at 330k units in 2024 (vs 330.3k units in 2023), driven by higher order backlogs and new launches. Proposed a final dividend of 15 sen/share for FY23. Maintain BUY on MBMR with a higher TP of RM6.50 (from RM5.40) based on 10% discount to SOP of RM7.18. MBMR offers dividend yield of 4.8% for FY24-26 with potential special dividend payout.
Above expectations.
MBMR reported a strong start 1QFY24 with PATMI of RM80.3m (-15.6% QoQ; +0.4% YoY). We deem the result above HLIB’s forecast (32.4%) and consensus (31.9%), mainly driven by the strong demand for Perodua cars. Marginal EI losses of RM30k were excluded in 1QFY24, mainly attributed to allowance for slow moving inventory and forex losses, offset by the reversal of expected credit loss.
Dividend. Proposed a final dividend of 15 sen/share for FY23.
QoQ.
Reported -15.6% lower core PATMI in 1QFY24 at RM80.3m, in line with industry movement as OEMs accelerated productions and deliveries in 4Q while 1Q was affected by shorter working period and lower starting inventory levels (as reflected by the drop in revenue).
YoY.
Despite the higher revenue, core PATMI remained flattish (+0.4%), due to deteriorated sales model mix to lower margin Perodua cars (with MI) from higher margins Volvo and Volkswagen (both wholly owned), as well as weaker contribution from Manufacturing segment (as the group recognized lump sum cost recovery SPLY). Contributions from associates were also relatively flattish.
Outlook.
The group will leverage on Perodua’s strong order backlog of +120k units with continued robust new order flows in the coming quarters. Perodua’s management has indicated its target for sales volume to sustain at 330k units in 2024 (similar to 330.3k units in 2023). Perodua is also expected to launch a B-segment SUV and another facelift/replacement model in 2024 and a BEV model in 2025. Management remained cautiously optimistic on the group’s outlook, bearing in mind potential challenges from the high USD/MYR, global macroeconomic and geopolitical headwinds, as well as the potential fuel subsidy rationalization effect.
Forecast.
Raised FY24 forecasts by 4.8% and FY25 by 0.2%. We also introduced FY26 forecast earnings at RM278.5m.
Maintain BUY, TP: RM6.50.
Maintain BUY on MBMR with a higher TP of RM6.50 based on 10% discount to SOP (RM7.18). MBMR is in strong net cash position (55.2 sen/share) with sustaining earnings and cash flow, by leveraging onto the strong demand for Perodua models. MBMR offers dividend yield of 4.8% for FY24-26 with potential special dividend payout. We believe Perodua will be less subjected to increasing market competition driven by the emergence of Chinese OEMs and new EV introductions.
13501450155016502.53.03.54.04.55.05.56.0May-23Aug-23Nov-23Feb-24May-24Pts(RM)MBM (LHS)KLCI (RHS)
1 month ago
Wow. 5.39 high so far and still solid. Can't do anything with current holdings, just keep holding. In the past IB claimed unclear, peak earnings etc to entice selling but anyone who followed to sell will be regretting. This company turned around from high net debt to positive net cash by FYE 2018. And the Net Cash keeps growing and growing. Management has done a great job so far. Just this quarter alone, net cash grew by 25 million in 1 quarter, or 100m expected if annualized. The last 12 months earnings is reported to be 86 sen. Total dividends paid out last year including special dividends is only 39 sen. At 39 sen, the dividend yield when divide by my cost price of 3.50 is already 11% dividend yield on cost i.e. I will never sell this company as long as its fundamentals remain intact as there is no where else that I can deploy that money that pays me such a high dividend yield. Best to do nothing and just enjoy the ride. Thank-you Mr Market!
1 month ago
@DividendGuy67, I agree with you. I am still holding onto it as well. From what I heard, there are rumours going around that said that bonus issue is coming, not sure how true is that. Maybe that is the reason they keep on buying it?
1 month ago
geary
MBMR Monthly Positive Pivot Point Momentum!
S1: 4.60.
PIVOT: 4.90.
R1: 5.40.(Matched)
R2: 6.20.(Coming Soon)
R3: 7.10.
Fair Value range...#6.20/7.20!?
Mr. Market is Unpredictable!
Dis: Trade at your own Risk!
1 month ago
1 month ago
@Geary, S1 means support 1? What does PIVOT means? I don't really use TA for stock buying... Would you mind to enlighten me? Thanks.
1 month ago
SeekUndervalued
@Geary, S1 means support 1? What does PIVOT means? I don't really use TA for stock buying... Would you mind to enlighten me? Thanks.
1 day ago
Are u a swing traders or value Investor?
It's for traders, it depends on your holding strength...days, months n 52 weeks.
PIVOT is an inflection point...the highest n the lowest price... within a range...like #52Weeks...plus average closing price. Divided by 3.
It's rather a range...or approximately pivoting point.
U have to judge the business catalyst...bullish or bearish.
Anyway...Mr. Market is unpredictable.
Good luck🤓
1 month ago
I am normal investor. Don’t really use TA analysis. Thanks for your clarification though.
1 month ago
If the EV trend fades, with possibly 3 out of 10 cars being EVs, 4 out of 10 being petrol cars, and 6 out of 10 being other or future car types, MBMR's business could still thrive. This assumes people continue to prefer driving over walking, Malaysians still need fuel-efficient cars (pro2), especially if R95 petrol prices rise.
1 month ago
MBMR will always look for other opportunities, we need to remember that MBMR has automotive parts manufacturing as well. Back to Perodua, it is stated that they will launch the Myvi EV in the next year end. So I guess fundamentally MBMR is still good. With the EV being the trend, I am not so sure how sustainable is the EV in the coming future. That being said, it is good that Perodua is coming out with their EV model.
As for the rising of Ron95 price in the near corner, I think Perodua will definitely capture more market shares as their Perodua Bezza is really fuel efficient. In the meantime, just hold on tight and see how MBMR will perform in the coming years.
1 month ago
I think this year got good news? Is it the rumour of bonus issue? Or it is the upcoming special dividend of 25 to 26 cents? Or is it the upcoming of Perodua new model?
1 week ago
why is this a big news? Perodua EV everyone knows....Proton also coming to launch their EV.
6 days ago
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That's what I am assuming too. Cash in hand now less than previously so would be prudent to wait until April.
2024-02-29 15:31