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2016-03-14 09:41 | Report Abuse
MKH's director and major shareholder bought shares from open market.
2016-03-14 08:40 | Report Abuse
IDR: Enjoying the moment
The IDR has appreciated the most in Asia year-to-date, exceeding our relatively positive
expectations for the currency coming into 2016. In a low-growth, low-inflation global
environment, the IDR’s attractive FX valuation ‒ at least in nominal terms (Chart 1) ‒ as well as
high nominal and real yields have stood out, attracting strong portfolio inflows.
There are other reasons behind the improvement in Indonesia’s balance of payments: First, the
current account deficit shrank to 1.9% of GDP in Q3, due to sluggish domestic demand and a
smaller services account deficit (Chart 2). The latter reflects both a decline in transportation
services costs and rising tourism revenue. While Indonesia’s commodity exports growth remain
sluggish, it appears that the worst of the terms-of-trade shock is behind us (Chart 3).
Second, FDI inflows have been on the rise, particularly from Greater China and Singapore,
and concentrated in the utility sector (Chart 4). This trend may continue as a result of the
government’s recent decision to remove many industries from the ‘negative list’ for FDI. Third,
shrinking other investment account outflows seen in the Q3 2015 data suggest that
elevated USD-IDR spot and forward points have dampened importers’ FX hedging demand.
Furthermore, we note that FX liquidity has improved as a result of policy measures, such as
Bank Indonesia’s FX term deposits (Chart 5) and FX bill issuance.
Indonesia continues to display a better fiscal position than most other EM countries. The
2016 fiscal deficit target was set at 2.1%, with a planned increase of expenditure on
infrastructure and healthcare. Removal of gasoline subsidies and plans to introduce a tax
amnesty bill has given the government room to spend in these areas. Successful sovereign
external debt issuance also reduced supply pressure in the local bond market.
Indonesia’s macro policy framework remains on the right track. The key building blocks ‒
prudent monetary policy, a flexible exchange rate and pre-emptive risk management ‒ remain in
place. These have enabled a soft landing in the credit cycle ‒ inflation is contained, while IDR
liquidity has started to ease since mid-2015, as indicated by falling deposit rates even before
policy rate cuts (Chart 6).
These developments facilitated the latest policies to lower government bond yields ‒ giving tax incentives to local pension funds and insurance companies to hold government bonds (Chart 7) and lowering deposits and lending rate ceilings.
BI has become more focused on strengthening FX reserve cover in recent years. Both BI and
the government have indicated that the IDR should not strengthen beyond its fundamentals. FX
reserves have already started to rise in February (Chart 8). Factoring the positive
developments, while bearing in mind the FX policy preference, we change our year-end
forecast for USD-IDR from 14,500 to 13,500.
2016-03-11 16:39 | Report Abuse
Remember few years back IOI acquired a plantation company owning a similar hectages ie. 15k ha or RM66k per ha for a consideration of RM1 billion. What you are paying now is for the plantation assets in MKH. You'll also get to buy property assets for free. SImple!
2016-03-11 16:17 | Report Abuse
Now that MKH has crossed 1 bil market value, this may prompt certain funds (with mandate to invest in company of at least 1 billion) to consider to invest.
2016-03-11 12:34 | Report Abuse
Cheapest plantation proxy. Growing plantation contribution.
Healthy sales of affordable housing. Reaping harvest from high unbilled sales.
2016-03-11 10:02 | Report Abuse
It means something having Public Bank Group as your shareholder with 9.8% stake.
2016-03-11 08:34 | Report Abuse
Thx K.H ... With plantation young age profile and strategic and sizable property landbank, MKH should command higher PE.
2016-03-09 17:43 | Report Abuse
They say .. will go up to RM3,000
http://www.bloomberg.com/news/articles/2016-03-09/-enormous-impact-of-el-nino-on-palm-oil-seen-fueling-20-rally
2016-03-08 08:51 | Report Abuse
Increase in crude oil price is positive to CPO price.
2016-03-04 09:36 | Report Abuse
In fact if the one-ff gain is taken out, the profit margin in the property segment has been creeping higher. Good mix of products including with more high rise projects near the MRT/LRT.
2016-02-29 09:59 | Report Abuse
See the media coverage given to President Indonesia. That's a credible plan and will spur confident.
http://www.bloomberg.com/news/videos/2016-02-25/evolving-indonesia-jokowi-s-mission
2016-02-26 09:13 | Report Abuse
Yes plantation earnings is expected to go higher on the back of higher CPO and PK prices and sales quantities and the resilient IDR. Q1 has EPS of 14 sen!
2016-02-25 21:24 | Report Abuse
It is remarkable, given the soft property market, to see the unbilled property sales sustaining at this high level. Kudos to MKH!
2016-02-25 08:38 | Report Abuse
Also paying lesser to the CPO levy in USD with the strengthening of IDR.
2016-02-24 21:48 | Report Abuse
IDR has been resilient lately. Good news to Indonesia plantation company with USD debts.
2016-02-05 16:14 | Report Abuse
Higher CPO price, higher property profit and strengthening IDR yet price no movement!!
2016-02-05 09:23 | Report Abuse
Win another project along Jalan Tun Razak. Next to Titiwangsa LRT and Monorail.
http://www.bursamalaysia.com/market/listed-companies/company-announcements/4995045
2016-02-02 13:55 | Report Abuse
The sensitivity analysis of foreign exchange risks as shown in its latest annual report, MKH says if USD weakens against IDR by 5%, the PBT is to increase by RM12 million and vice-versa.
2016-01-29 16:36 | Report Abuse
2016 EPS. Plantation could potentially contribute 10 cents while property may chalk up 20 to 25 cents. Happy Investing!
2016-01-29 10:50 | Report Abuse
While others are affected, MKH says its own estates expect minimal El Nino impact as it is located at the equuator with adequate rain fall and good network of canals for irrigation.
2016-01-22 10:07 | Report Abuse
lcng123 good one.
USD borrowing is also being liquidated.
2016-01-21 11:58 | Report Abuse
The market is really bearish ..
30/9/2015 - Price 2.30 CPO price 2000
Now - Price 2.08 CPO price 2450
2016-01-06 12:39 | Report Abuse
La Nina has in the past resulted in higher grains prices including soybean price.
2015-12-10 10:23 | Report Abuse
Oh .. it is right only 0.77 sen per share.
2015-12-10 10:20 | Report Abuse
This deal is not significant but is good in term of allocating its resources to best use.
2015-12-10 10:19 | Report Abuse
Gain RM0.77 sen per share!
Is this right?
2015-12-04 09:38 | Report Abuse
S.No. / Date / Closing Price / Target Price / Rating
1: 01 Dec 14 / 3.02 / 5.40 / BUY
2: 26 Jan 15 / 2.71 / 4.10 / BUY
3: 16 Feb 15 / 2.89 / 4.10 / BUY
4: 29 May 15 / 2.38 / 3.80 / BUY
5: 22 Jul 15 / 2.29 / 3.80 / BUY
6: 10 Aug 15 / 2.26 / 3.80 / BUY
7: 27 Aug 15 / 2.02 / 2.80 / BUY
8: 09 Sep 15 / 2.04 / 2.80 / BUY
9: 07 Oct 15 / 2.36 / 2.80 / BUY
Haha how many times wrongs can he have? Haha
2015-12-03 15:11 | Report Abuse
2016 plantation outlook for MKH.
- tightening output in the market due to dry weather associated with El Nino
- CPO price to be trading up
- higher output by MKH due to young trees and more trees come into maturity
- USD borrowing being liquidated and softening of USD (likely after Fed lifts its rate)
Happy investing!
2015-12-02 14:14 | Report Abuse
2015-12-02 10:26 | Report Abuse
Panahome Global's sales in FY2015 was USD2.7 billion.
http://www.panahome.jp/english/index.html
2015-12-02 10:24 | Report Abuse
Spot on! 2016 property segment to contribute at least 25 cents per share.
2015-12-02 08:45 | Report Abuse
What a strategic alliance! MKH's brand name get boosted!
Want a Japanese's element house look no further than MKH.
PanaHome MKH Malaysia Sdn Bhd - http://www.bursamalaysia.com/market/listed-companies/company-announcements/4938653
2015-11-29 20:41 | Report Abuse
Plantation, aside from the non-cash forex losses, performed remarkably well. CPO yield is 7 to 8 tonnes/ha, throwing behind many established plantation companies. Look at the increase in CPO sales from 76.6k tonnes to 108.9k tonnes. This is poised to increase further with more trees coming into maturity. Average selling price of CPO was less than RM2,000 a ton in FY2015. Big impact on earnings if CPO price average RM2,300 next year.
2015-11-29 20:32 | Report Abuse
Property unbilled sales all times record high at RM920 million. Good earnings visibility.
To capitalise on MRT which is scheduled to complete in 2007 by launching more projects.
2015-11-10 21:43 | Report Abuse
Noticed the newly acquired subsidiaries. Specialised in industrial properties in JB .. singaporean like it as their government is not renewing expiring lease for certain industries.
2015-11-10 21:40 | Report Abuse
Plenty of cash no debts. Associate also performs .. higher share of profit.
2015-07-24 10:14 | Report Abuse
Public bank a solid shareholder behind MKH.
Stock: [MKH]: MKH BERHAD
2016-03-14 09:45 | Report Abuse
Plantation assets - RM1 billion (based on latest transacted value)
Property assets - RM500 million
Total - RM1.5 billion
Value per share - RM3.60