MAYBULK BERHAD
KLSE (MYR): MAYBULK (5077)
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Last Price
0.295
Today's Change
0.00 (0.00%)
Day's Change
0.295 - 0.30
Trading Volume
1,232,800
Meeting
| Ann. Date | Date | Time | Type | Venue | View |
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Discussions
9 people like this. Showing 50 of 5,723 comments
@hng33
*Shelving and storage solutions* The demand for shelving and storage solutions is expected to slow down due to festive season at the beginning of Q2 2023 and will likely weaken further on the back of slowing global economic outlook coupled with higher interest and inflation rate that pose significant growth headwinds. Businesses will lower their stock levels and slow down expansion projects. Accordingly, the S&P Global Malaysia Manufacturing Purchasing Managers Index (PMI) at 48.8 in April 2023 indicated challenging business conditions and demand remained subdued, pressuring firms to limit production and scale back their purchasing activities.
2023-08-14 16:54
Hi may i know what is the main core business now ha for Maybulk ever since new investor came in last 2 years?
2023-08-29 12:00
Bought maybulk at 0.32. The worst is over. Second half quarter result will be better.
2023-08-30 09:08
Prospect got mention "Overall, a better performance is expected in the third quarter compared to the previous two quarters"
2023-08-30 09:14
propose to change name to "Maybulk Berhad" from "Malaysia Bulk Carriers Berhad"
what is the purpose on this move?
2023-09-04 09:54
Maybulk secures 140mil sale of 5-yr-old Kamsarmax vessel for a 2.6c profit per shr to Japanese co.
2023-09-06 09:11
@dompeilee, any expected special dividend declared to our shareholders??
2023-09-06 09:14
Doubt it...1.5c is enough...I will collect assiduously until I hopefully reach 200,000 shrs b4 the ex-divvy date.
2023-09-06 09:17
Too soon to set tgt...bought more @ 32 & 32.5c, bringing my stake to 118,800 shrs.
2023-09-06 16:00
we helped summarize it here: https://www.youtube.com/watch?v=qn17EgxEkoY
2023-09-12 20:03
Baltic dry index at 1 year high. Bought Maybulk.
https://www.tradingview.com/symbols/INDEX-BDI/
2023-10-17 10:57
Bought MORE @ 32c, crossing 130k shares for the first time ever...they SOLD almost all their ships at the peak of the bulk carrier market, and now I'm gonna raid their kitty for the cash from those sales while waiting for the price to rise back above breakeven, which it most definitely will! Ganbatte Teraoka, Sekonic & Nishishiba!!!🤗
2023-11-07 17:03
Re-deployed the capital released by 7-dividend-earning PBA & 5-dividend earning KPS into more of an investment that will give me yet another bumper dividend, this time well before Christmas!🤗
2023-11-09 09:56
buy call... Transportation & Logistics will be the next theme to play..trust me
2023-12-21 15:24
Pity. This company is no longer the same company as it was 10-18 years ago.
Last annual report showed it only has 3 vessels left. Customer concentration risks are high.
Market cap is only RM305 million - a small company, no longer a shade of what it was 10-18 years ago.
Last Balance sheet showed 19+ sen cash. NTA 52 sen. Trading at 30.5 sen, so, undervalued by P/NTA basis and interesting.
However, business appears fairly valued (?). My estimate of 1 year EPS is around 1.2 sen. Excluding cash, the business is available for sale at 30.5 sen - 19 sen = 11.5 sen i.e. P/E of < 10, which is very fair for the future earnings from the 3 vessels.
Total cash is around 190 million + meaning they can't scale / grow their business in the future - if they use the entire 190 million to buy 2-3 vessels, that cash is gone.
If they pay out the 190 million + cash as dividends, market is going to drop down ex-div. We already seen that market is pricing fairly - on the last ex-div date, price fell 1.5 sen, exactly equal to the dividend paid out. At this juncture, this is now a penny stock with little upside / downside prospect.
It's not clear to me what happened to MAYBULK. I haven't monitored for over a decade and suddenly noticed this business is nothing like the business that it was 10-18 years ago. It looks to me this company is now ceasing / substantially reducing market's interest.
If you are a Book Value investor and are very patient, perhaps accumulating at low prices and hoping for a price spike to sell out may work out, but this can test even the most patient investors. Keep such plays a small % of one's capital.
For me, my rule is that the dividends must be funded by a % of earnings. If EPS is 1.2 sen and DPS is 1 sen, that's 3.3% of 30 sen price which is similar to FD rates and doesn't beat EPF, so, I'll pass. Sure, I'll grant that MAYBULK might use some of its cash to enhance the DPS to be larger than 1 sen, however, it will reduce its cash and limits its future ability to grow its fleets i.e. the more cash it distributes as dividends, the less chance it can grow its business in the future.
Just documenting my thoughts here for my own future reference to remind me to pass this trade.
2023-12-29 01:23
Maybulk is my 4th Gem
History of Maybulk
2Ys & Goh bot fr Robert Kuok, while stock @ 0.54 in 2022 April.
2Ys sold to Goh @0.425 a year after.
Core biz:
Shipping, profit margin 20－25%. Biz nature is a CYCLE biz.
Latest exercises:
~Capital reduction on 23Q3
~Venturing into shelving and storage biz, with profit margin ~13%
~Ship sale at 140m on Nov 2023, which will be in 23Q4 (estimate on end of February)
Attractive Points:
~capital reduction, which will turn Maybulk to new reborn company from accounting stabd point of view
~After ship disposal, balance ships has long term orders, which will generate stable income
~potential spwcial dividend of 0.10
~Dividend payout ~100% @0.01 with the yield 3% @0.33
~NTA 0.52
~almost zero debt, 1m
~Cash
cash 29m + deposit 162m , + ship sale deal 140m, which translate into 330m, if no loss no gain for coming qtr. this is talking about 0.33 cash per share, which is below the current price 0.325
~Value relization theme
~Estimate normal annual Net Profit 5－10m, EPS 0.005－0.01. If value the biz at PE 10, this translate into 0.10 for current biz
Target Buy Price:
Target Sell Price:
=cash 0.33 + current biz value 0.10 + potential special dividend 0.10
= 0.53
Report is prepared by Little Kang on 240115
2024-01-16 09:03
Good analysis...that's why I dare to UP my wager to 134,000+ shares...on their likely rising back to 50+c !🚢
2024-01-16 09:09
TY to the dum b fuggs who sold down to 31c....managed to buy more to reach 136,600 shares.
1 month ago
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Thank You hng33
2023-08-11 19:30