MEGA FIRST CORPORATION BHD

KLSE (MYR): MFCB (3069)

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Last Price

3.72

Today's Change

-0.04 (1.06%)

Day's Change

3.72 - 3.76

Trading Volume

161,200

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
14 people like this. Showing 50 of 3,435 comments

newbie8080

2021 vs 2020
Group pre-tax profit rose 38.6% from RM389.3 million to RM539.6 million, in part due to
RM122.0 million share of profit in joint venture. Excluding the share of profit in joint
venture, pre-tax profit grew 7.3% to RM417.6 million
The share of profit in joint venture was boosted by the Group’s share
of unallocated bargain gain arising from Edenor’s acquisition of EOM and ESC.

2 months ago

oppstar

Please bear in mind, only fund & syndicate can influence the share price.

2 months ago

LongTermInvestor8

2021
- Construction of 5th turbine starts late Dec 2021 on dry season.
- Acquired Stenta

2022
- Oleo [ 300,000 tonne ] exercise is expected to be completed in January 2022, 12 months to turnaround. 1.5B potential yearly revenue, profit margin estimated to be about 5 to 10%, which comes to about RM9 to RM18 million per quarter.
- Solar Power C&L - 6.3MW Jun/July 2022, 19.0MW over the next 18 months

2023
- [ Hexachase ] Construction of a RM100m mega packaging factory sitting on a 10.4-acre plot of land in Melaka will be completed by 1H2023.
- [ Hexachase ] 2021/2022 new production capacity is expected to reach max capacity by 2023.
- [ Stenta ] Construction of a 6.7 acre land factory, when completed will add 8 LLDPE and 1 CCP line.

2024
- Construction of the 5th turbine, which will cost about RM200m-250m is expected to be commercially operational by Q3-2024.

2025
- Coconut and Macadamia planting to be completed by 2025

2026
- The plantation group is still exploring various downstream processing businesses and it does not expect any positive earnings contribution until 2026.

Note
- MFCB 90+% of the earning is from oversea and is tax exempted by Laos Government (5 years from 01/10/2020)
- Normally, the water level will peak between June to November during the wet season.

2 months ago

wallstreetrookie

Renewable energy up in foreign markets.

2 months ago

wallstreetrookie

Mega First Corporation Berhad: Laggards among Bursa Utilities Index

2 months ago

wallstreetrookie

Bought 45k worth of MFCB shares. Renewable energy to outperform crude oil in Q3 2022. Time to build your positions.

2 months ago

antoniomc27

Open Question : What are the ramifications of a sustained $100+ oil price for MFCB for a couple years to come (very likely given the tremendous oil shock that is coming into play regardless of Ukranian war development)?

IMO the resources, oleochemical, and packaging sectors will be affected, and I am not sure they are able to pass down the cost increase in any of the three divisions, what will mean margin compression down the road

2 months ago

DannyArcher

@antoniomc27

Clearly you did not attend the zoom briefing. The management already explain it there, can you please go read up the notes before commenting. Thanks.

1 month ago

LongTermInvestor8

Environment Ministry signs largest solar PV contract in Maldivian history

https://en.sun.mv/73775

1 month ago

kennygoh97

Why no announcement in Bursa Malaysia? Any idea ?

1 month ago

kenken85

this is what we called diam diam ubi berisi. as far as I know mfcb rarely announce about the solar project.u can follow it from interview and qr report.

1 month ago

kennygoh97

I did not agree about this. I am not sure whether company should announce all contracts to Bursa ? if yes, they better do so, just to follow the rule and regulations !

1 month ago

LongTermInvestor8

Am not sure what are the rules and regulation, if every single project needs to announce, then everyday we will be receiving endless info. I am very certain the management knows what they are doing and not breaking any law.

The only company that announced every single tiny project they won is Serba, SCIB and KPower. Every month sure got announcement, win this win that win so many projects, even tiny longkang project also announce.

1 month ago

kai8994

There are rules on continuing disclosure (Chapter 9 of Listing Requirements). It's a JV, the financial impact isn't material enough to warrant immediate announcement.

1 month ago

wallstreetrookie

Average up

1 month ago

wallstreetrookie

Utilities stocks are recession-proof

1 month ago

wallstreetrookie

But the problem is, Malaysia is slowly emerging out of economic recession

1 month ago

wallstreetrookie

MFCB should hit RM5 billion valuation in no time

1 month ago

jonathan_k

Today is the day

1 month ago

wallstreetrookie

Foreign investor upgraded MFCB again.

1 month ago

wallstreetrookie

Hold 20,000 units

1 month ago

snowball2000

MFCB is actually quite an interesting company..

4 weeks ago

snowball2000

However, time is required for the value of its businesses to reflect in its share price.

4 weeks ago

snowball2000

Though not one for quick money, the value will accrue through time..

4 weeks ago

snowball2000

Business in Laos should do better and better, especially with the 5th turbine coming into picture.

4 weeks ago

snowball2000

Construction revenue should imrpove its bottom line starting 1Q2022.

4 weeks ago

snowball2000

MFCB is on the uptrend with healthy volume. Does anyone have any idea when is next QR coming out?

3 weeks ago

Souljaboiiii

@snowball2000 End of May

3 weeks ago

snowball2000

Thanks Souljaboiiii..

3 weeks ago

snowball2000

Price showing upward momentum. Indication of a good Mar 22 quarter?

3 weeks ago

newbie8080

@snowball2000

What is your expectation of the quarter results after factoring the mandatory windfall tax payment?

3 weeks ago

snowball2000

I m a newbie and have not studied much into mfcb's business structure. Perhaps its income from Laos is tax exempt and the growth in Stenta and Hexa remains in good trajectory, it should be able to maintain at least RM0.10/share per quarter. No?

3 weeks ago

snowball2000

Upward surprise may come from construction profit from 5th turbine..

3 weeks ago

snowball2000

@newbie8080
What is your expectation with regards to the quarterly results?

3 weeks ago

snowball2000

As highlighted by LongTermInvestor8 earlier and as per the management discussion & analysis in its latest AR, mfcb may see exponential growth moving forward. The current price of below RM4 is still very much undervalued if most of its ventures turn out alright....

3 weeks ago

snowball2000

The only catch is it may not declare much dividend as it needs to preserved cash for its expansion plan. However, this is good for long term appreciation, I supposed. No?

3 weeks ago

terence775

2 months ago we did an interview with MFCB management which was hosted live. It dragged on for over 2 hours as Mr Yeow was so passionate in sharing about the business, their plans, prospects, challenges, and how they're overcoming it. Unfortunately, i3 does not allow me to share my notes, so for whoever is interested maybe can PM me.

3 weeks ago

terence775

MFCB is one of the most transparent and well managed companies in the whole of bursa malaysia. Ignoring share price movement (which has been static since 2021 mostly, with some volume coming in only lately), business is running on all cylinders.

3 weeks ago

snowball2000

terence775, may i have your number so that i can pm you? TQ.

3 weeks ago

MiaoMiao7

go to $t0ckBi-t dot com and look for the company. this keyword is banned here in i3.

3 weeks ago

snowball2000

noted tq..

3 weeks ago

wallstreetrookie

Mega First is no longer a growth stock. Value defensive play

3 weeks ago

newbie8080

@snowball2000

Excluding the RM122.0 million share of profit in joint venture, I think the result is still good.

However, I have some concerns on the total borrowings (excluding lease liabilities) amounted to RM777.9 million, a RM120.0 million increase from RM657.9 million at the beginning of the year.
Even though, the increase was primarily due to additional borrowings to
part finance the acquisition of Stenta.

As interest rates will beginning to normalise from 2022 2nd half to 2023 by approximately 1%, hopefully management will take steps to further reduce the borrowings by funding acquisitions via private placements or warrants

2 weeks ago

PenangLang9180

@newbie8080 Question was raised during their Quarterly Result Briefing for 4Q2021, management mentioned that the total borrowing is only 1.5years worth of their expected earnings. which is around RM 500mil annually.

To me the lack of ability to pass through raising cost/hedge against devaluation of currency is more concerning as management mentioned in the briefing that they only have 1% fixed rate annual increment for their Don Sa Hong Hydro Powerplant tariff.

2 weeks ago

MiaoMiao7

They are paid in USD, so it is a good hedge against RM. and dont expect much growth from Don Sahong Dam, it is how they use the profit from DS to grow their other subsidaries.

Plantation
Plastic Packaging
Oleo Chem

Will be their next growth provided they can manage them well and be profitable

2 weeks ago

terence775

snowball, if you can't find the link then PM me. click my profile and drop me a message (press the green colour chat icon beside my name)

2 weeks ago

newbie8080

AGM next wed.
Will get to know more updates from management.

5 days ago

snowball2000

Share price is mildly positive lately. An auspicious sign of what is to come in quarterly report? Does anyone have any inkling?

1 day ago

steven832

1Q results briefing on 26 May 330 pm. Interested please register:
https://us06web.zoom.us/webinar/register/WN_apMobvx-QWeSyJ70DXyTWA

1 day ago

terence775

Hi guys, I will be speaking to MFCB management this Thursday. You can register at the link bro steven shared. Thanks for sharing :)

23 hours ago

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