MEGA FIRST CORPORATION BHD

KLSE (MYR): MFCB (3069)

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Last Price

4.68

Today's Change

0.00 (0.00%)

Day's Change

4.63 - 4.90

Trading Volume

1,470,300

Financial

Hints :
Click the QoQ or YoY on table to view the QoQ or YoY Financial Result page.

Date
Financial Result
Financial Ratio
Per Share Item
Performance
Valuation (End of Quarter)
Valuation (Ann. Date)
Date Financial Result Financial Ratio Per Share Item Performance Valuation (End of Quarter) Valuation (Ann. Date)
F.Y. Ann. Date Quarter # Revenue PBT NP NP to SH Div Net Worth Div Payout % NP Margin ROE NOSH RPS Adj. RPS EPS Adj. EPS DPS Adj. DPS NAPS Adj. NAPS QoQ YoY EOQ Date EOQ Price EOQ P/RPS EOQ P/EPS EOQ P/NAPS EOQ EY EOQ DY ANN Date ANN Price ANN P/RPS ANN P/EPS ANN P/NAPS ANN EY ANN DY

PBT = Profit before Tax, NP = Net Profit, NP to SH = Net Profit Attributable to Shareholder, Div = Dividend, NP Margin = Net Profit Margin, ROE = Return on Equity, NOSH = Number of Shares, RPS = Revenue per Share, EPS = Earning Per Share, DPS = Dividend Per Share, NAPS = Net Asset Per Share, EOQ = End of Quarter, ANN = Announcement, P/RPS = Price/Revenue per Share, P/EPS = Price/Earning per Share, P/NAPS = Price/Net Asset per Share, EY = Earning Yield, DY = Dividend Yield.

NOSH is estimated based on the NP to SH and EPS. Div is an estimated figure based on the DPS and NOSH. Net Worth is an estimated figure based on the NAPS and NOSH.

Div Payout %, NP Margin, ROE, DY, QoQ & YoY figures in Percentage; RPS, EPS & DPS's figures in Cent; and NAPS's figures in Dollar.

All figures in '000 unless specified.

Discussions
17 people like this. Showing 50 of 3,622 comments

punpipi

shorting kaw kaw

2023-09-15 17:00

jamestecs

unreasonable drop next week is good chance to collect.

2023-09-15 18:00

speakup

Drop 3¢ je dah panic

2023-09-16 18:18

hw0706

Mfcb the best is 2.80

2023-09-18 05:48

1DERFUL

MFCB Faire value RM 8.38, PUBLIC BANK target price 4.75, it has upside potential

2023-09-18 11:31

speakup

2.80 buy

2023-09-18 12:41

BursaVulture

Mega First teams up with Laos firm to explore investment opportunities in Laos
https://theedgemalaysia.com/node/682956

I remember they did mentioned about exploring new hydro if opportunity arise. I wonder what is this all about.

2023-09-18 20:22

jamestecs

Every time company buyback activity the price will press down, so funny.

2023-09-21 10:13

BursaVulture

@jamestecs

That is because they are trying to hold the price stable when short sellers throw. Don't think too much, at least the founder and owner are willing to support the price, some owners couldn't care to provide necessary support.

2023-09-27 18:31

investingiscommonsen

Hi, My opinion is MFCB is fully valued at RM3.50. below is my analysis, feel free to give any comments.

https://klse.i3investor.com/web/blog/detail/investmentknowledge/2023-11-14-story-h-215117525-Mega_First_Corporation_Berhad_is_FULLY_valued

Regards,
Raymond Lim

2023-11-14 07:43

punpipi

Hi, my opinion this MFCB is valued at RM4.6, below don't have my analysis, you need wait next 2 years only comeback to check again.

2023-11-14 16:51

muk912

still got sifu in the house

2023-11-14 19:18

BursaVulture

@investingiscommonsen

Fully valued based on current profit. Can they grow the company / profit? That will depends on management.

2023-11-15 09:48

investingiscommonsen

hi, this is my part 2 analysis of MFCB, feel fee to give comments. Based on my personal opinion, this stock is worth RM2.63 .

https://klse.i3investor.com/web/blog/detail/investmentknowledge/2023-11-23-story-h-214221059-Part_2_Mega_First_Corporation_Berhad_is_OVERVALUED

2023-11-23 19:53

snowball2000

Latest QR is out. Not too bad. Renewable energy continues to do well. Edenor to remain as achilles heel?

2023-11-29 18:28

BursaVulture

am afraid this might be the case too. share price either remains stagnant for quite sometime. Maybe until 2027 or 2028 if their packaging can grow, their oleo can make money and plantation starts generating profit.

2023-11-29 20:15

LouisLim

Mfcb prospect very good

2023-11-29 22:26

yong1985cm

for profit making/growth company, it make more sense use PE to measure the target price.

2023-12-04 10:49

1DERFUL

Positive Earnings Impact: The increase in MFCB's stake in the Don Sahong hydropower project is expected to be earnings accretive, potentially leading to an increase of about 6% in the company's core earnings forecasts for FY24-25​​. This could positively impact the stock price as higher earnings often lead to increased investor confidence.

Diversification of Business: The acquisition of Emery Oleochemicals and Emery Specialty Chemicals, and the expansion into agricultural produce processing, signal a diversification strategy. This diversification could reduce the company's risk profile by not being overly reliant on a single business segment​​.

Market Perception: The market’s perception of these moves is crucial. If investors view these acquisitions and expansions as strategic and beneficial for long-term growth, it could lead to increased demand for MFCB shares.

Financial Stability: The manner in which these acquisitions are financed is also important. MFCB's healthy balance sheet and low net gearing position suggest financial stability, which is typically viewed favorably by investors​​.

Market Valuation: The market might re-evaluate the company's valuation based on these developments. For instance, the valuation of the hydropower project at a level higher than the company's current market capitalization could indicate that the stock is undervalued, potentially making it more attractive to investors​​.

Overall, while these developments appear to have positive implications for MFCB's stock, investors should always consider the broader market conditions, the company's overall financial health, and their investment strategy before making decisions.

2023-12-04 12:18

investingiscommonsen

I sought clarification from MFCB about the total valuation on the hydropower project. Below is MFCBs' reply. The valuation of the project is USD 425million as I mentioned before in the blog.

https://klse.i3investor.com/web/blog/detail/investmentknowledge/2023-11-23-story-h-214221059-Part_2_Mega_First_Corporation_Berhad_is_OVERVALUED



"US$85 million is the purchase consideration which MVL has to pay to acquire 20% in DSPC. As MVL is a 56.25%-owned subsidiary of MFCB, MFCB’s share of purchase consideration will be US$47.8 million.



MVL’s acquisition will be partly funded by US$55 million bank borrowing. Therefore, the implied equity/shareholder-advance funding will be US$30 million. MFCB’s share of equity/shareholder-advance contribution to MVL will be US$16.9 million.



Based on US$85 million for 20%, the implied project valuation is US$425 million."

2023-12-04 12:48

Fabien _the efficient capital allocator

Revenue growth via new investments. As at 30th Sept 2023, management has allocated capex of RM606.5m, of which 62% or RM376.6m is allocated for the renewable energy segment. Of this, RM198.5m is for the new 5th turbine and the remaining RM178.1m for the 46.5MW solar farm project in Malaysia under the Corporate Green Power Programme, 11.4MW solar farm project in Maldives and 8.1MW commercial and industrial rooftop solar projects. It has also allocated RM61.1m for remaining works on two new packaging factories and RM95.8m for new production lines. RM74m is budgeted for modern farming covering 772 acres in Perak, which also include a 60MW solar project.

Positive progress on the 5th turbine concession. Management is currently in the final stage of negotiations with Laos’ Electricite Du Laos (EDL), which will see a favourable new concession for the Don Sahong Hydropower plant that includes all the 5 turbines with a combined capacity of 325MW. Announcement of the new concession is expected to be unveiled by 1QFY24. Meanwhile, Energy Availability Factor is expected to stay around 91% in 2024. Completion of the 5th turbine is in time for the wet season, which could see full capacity utilization. Assuming a conservative EAF assumption of 41%, the 5th turbine could generate annualized pre-tax net profit of RM40m for the group. The solar business is expected to contribute revenue of RM14-15m with a net profit of RM3m in FY24.

New food security division. Apart from the 2,560-ha coconut and macadamia plantation in Cambodia, the group is also investing into an established platform in Malaysia that owns 1,300-acre fruit and vegetable farms and distribution channels in Johor and Pahang. Via the platform, they plan to develop modern farming or greenhouse farming for herbs, vegetables and fruits on a 772-acre (allocated 400 acres for modern farming) plot of lowland in Perak. Given the huge capex involved and concerns on heat or high temperature of lowlands in Perak, they have started on a pilot project while in the midst of acquiring the entire landbank in Perak under the MFCB name. Eventually, there are plans to integrate the established platform with the modern farming as it plans to have a bigger stake in the entity. Including nursery, the gestation for vegetable farming is about 30-45 days. To avoid the risk of price fluctuation and middleman costs, MFCB plans to have direct off-takers like supermarkets and hypermarkets. Based on the estimated annual production of 50k mt and average wholesale price of RM6/kg, it could potentially generate revenue of RM200m-300m p.a. or RM500k/acres. The modern farming design is expected to be ready by end-March 2024.

2023-12-13 20:20

BursaVulture

To be honest, I am not a fan of indoor farming or vertical farming or whatever they call it. Most greenhouse farming simply doesn't work. I am still holding MFCB and will continue to do so, I hope if things doesn't work out, they will shut it down. But I hope they succeed.

I hope they are smart enough to plant Herbs, Onions, Mushrooms and etc. Dont compete with those in Cameroon, compete with food we import, if they are able to scale, our gov might help out without hurting the small farmers in Malaysia.

2023-12-13 20:41

BursaVulture

Cameron Highland, not Cameroon. typo.

2023-12-13 20:42

Pinky

Please welcome me to the club 😁

2024-01-09 15:53

troy88

This underrated gem should challenge RM4 soon..

2 months ago

Pinky

Wow early Monday morning so positive here

2 months ago

Pinky

Foreseeing bad results? 🤔

2 months ago

1DERFUL

Does anyone know of platform/site to check individual stock dividends history ?

2 months ago

1DERFUL

@BursaVulture . Thanks👍

2 months ago

Choivo Capital

Through my many interactions with them, i have a strong confidence in their thought processes and business thinking, so its quite likely they have found a way to do it very well, likely via certain fruits/vegetables/herbs, that have very different margin profile etc, due to different methods of growth, geographic constraints, supply/demand mismatch etc.


BursaVulture

To be honest, I am not a fan of indoor farming or vertical farming or whatever they call it. Most greenhouse farming simply doesn't work. I am still holding MFCB and will continue to do so, I hope if things doesn't work out, they will shut it down. But I hope they succeed.

I hope they are smart enough to plant Herbs, Onions, Mushrooms and etc. Dont compete with those in Cameroon, compete with food we import, if they are able to scale, our gov might help out without hurting the small farmers in Malaysia.

1 month ago

skyjet

Good QR with 4.25 cents dividend

1 month ago

Pinky

Good results with increased dividend. Good! No regrets buying into this.

1 month ago

Kitty Kitty

great growth stock. slow and steady

1 month ago

EngineeringProfit

My favourite but dah kenyang

1 month ago

Kitty Kitty

Volume picking up to challenge RM4 ..

1 month ago

Jack888

go...go...go

1 month ago

TerrenceLim

upcoming quarter profit is crazy......it is like a new YTL Power 2.0

1 month ago

BursaVulture

why would it be crazy? you can say slightly higher but crazy is too crazy. almost 90% profit is from their hydro. unless all the other subsidiaries grow at exponential rate, unlikely to be crazy. hydro power gen already somewhat max.

1 month ago

EngineeringProfit

Exactly

Posted by TerrenceLim

upcoming quarter profit is crazy......it is like a new YTL Power 2.0

1 month ago

man8636

is it possible to buy in now??😣

1 month ago

EngineeringProfit

Everything is possible...................but >10% from break out price!! Bilises must have the discipline - not to chase high.

1 month ago

BursaVulture

I own MFCB too, i call super crazy high profit for next QR pure BS. Most likely they will sign a new deal, probably extension from 25 years to 30? who knows. if you read the report, you know 90% profit from hydro, no more room to grow.

1 month ago

newbie8080

5th turbine is completing soon.
Hopeful that it will provide additional revenue and profit

3 weeks ago

Jack888

Next resistance 5.40 ...???

2 weeks ago

BLee

“Jack888
Next resistance 5.40 ...???
19 minutes ago”

Yes, MFCB is having a good meteoric rise this year. Few days ago, I did a calc for Insas' CAGR, also checked on MFCB over a 10 year period. The results are much better than Insas. Will find time to post the results, maybe over the coming weekend.
Happy Trading and TradeAtYourOwnRisk.

2 weeks ago

Jack888

Slow and steady...keep on moving uptrend.

3 days ago

Pinky

Kuat punya Mega!

3 days ago

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