Fundamentally doesnt change. PE not super high. Why the drop? PP coming?

probably rm 3 is the support. but given the high PE still susceptible to higher rates. although i like the growth and fundamentals.

how is china barring their company from exporting steel affect global steel price? wouldnt that constrict the supply hence the higher price?

Pardon lack of my knowledge in commodity stock. If China barred their companies from exporting their steel and to my knowledge they only import iron ore, wouldn't that mean the whole world has less steel source and hence higher price? we know china is the main producer of steel. I failed to comprehend why the sudden drop.

If astino not mining their own ore, that means higher margin. Correct me if im digesting the news wrongly.

Does csc mine their own iron ore? If not wouldnt this provide greater margin?

Why sudden fall?

Rm3.2 for pp means management emenr confident of earnings. If not private wont subscribe. But why pp when u have excess cash. Probably wanna go all in new semiconductor project rather than 5g apple only? Fundamental seems solid.

Upon the conclusion of the exercise, the restructured entity will see BIMB’s stake in Syarikat Takaful Malaysia Keluarga (STMKB) distributed to existing shareholders, with Bank Islam taking on the original entity’s listing status. The restructured entity’s profitability metrics will also be fully in line with Bank Islam’s whose ROE is significantly lower without the contribution of STMKB (that reported an FY20 ROE of 27% against Bank Islam’s 9.4%).


What does 'distributed' mean in a financial sense? does this means shareholders will get STMKB shares or value deposited? or will Bank Islam get the allocation from STMKB.

Also, will Bank Islam be attractive without STMKB under its arm, as opposed to what BIMB has now?

Anything related to allianz? @limyuwei

Any FF buying? If not probably rm7 realistic is the realistic target. My humble opinion would say with US economy projected for a booming 2021, funds may probably already positioned in to reap US reopening.

Pardon my naive calculations
Pre covid PAT rm100. Say 2024 can super achieve rm500m? With forward PE of lets give a 10, price would probably be 5-6rm. And possible declining profit the year after. Is rm5 cheap now for next 5 year future cash flow? Taking into account bonus issue, pre covid is rm0.8 or so. I am not talking about boatloads of cash. Just Earnings to price. . Having 5billion of cash sitting in bank with a merely 1% dividend wont do good also. Unless super diversify, its hard to see how can they ‘grow’ from here. Or we all just momentum trader? As a deep value investor do u consider rm5 is cheap 10y in the future?

Maybe sifu gloves can justify more?

I read about distribution of capital, but nothing said about giving to shareholder, only to bank islam after listing. Unless there i misread those.

@yeo wc. Why free?

Wonder why need new share placement. Bank is profitable with good ROE.

New share placement. Bad news?

when is dividend ex date?

@tantoro by increasing capacity doesn't mean will increase profit. price of ASP x volume is equally important. Raising volume to 100billions also, with declining ASP will hurt the profit (not talking about losses). So let's make a safe assumption now Super 'should' worth RM7 roughly, if next year PAT half of it is now, then it is RM3.5. Then the year after is 1.75. How do u calculate the future value of the company if every year the value is half? I firmly believe there will be a bottom price, only once the ASP is stabilized and its new market share, taking also into account emerging players flooding the gloves market. The previous CAGR might be affected as well.

Unless Super can diversify using boatloads of cash (probably buy half of Ambank? hehehe), I honestly don't see how is the price will go up, given the current valuation. Having billions of cash in times other companies saddled with debt provides a huge opportunity to diversify. let's hope the management can surprise us with that. I might be wrong ofc.

Also in my opinion recent news of D Stanley bought a new condo while TG CEO non stop buying back his shares together huge dividend pay off, Super needs to do more to entice the shareholder.

@tantoro we all know the PE is 4. Market is forward looking. If 5% asp declining a month, means after a year 50-60% half profit expected. Then probably another half from that in 2023. How do u know future cash flow? Will rm4 be expensive in future? Usually business model is ‘growing’ profit over year. Not to say supermx will incur losses ofcourse. Objectively speaking, what is normal asp post covid? Thats a million dollar question.

Having already rode the first wave of gloves mania. I wonder how do u calculate cash flow in future if the asp declining? What is normal asp? Pre covid super was rm1 or so now is rm4. Meaning we expect the profit to rise 4x. Ofc this year can. Probably next year first half also. What about after that? There are reports 5% asp decline per month. Trying to look into objective and as a long term investor. I still hold some supermx stock.

Any change in fundamentals given the sharp drop in price?

PP but price rockets to the star. Something i am not getting?

Hi all. After reading the outcome of the meeting and being new investor here. I have a few questions.
1. Why would propose placement of rm800m if, bimb produced a strong quarter and diluting the shares?
2. Any need of changing the name?

Cypark also managed to secure rm500mil solar project. Can solarvest match? For specific solar company. Downside is gearing ratio would be a concern.

Ya id love to know as well.

As i mentioned before, if about 1/3 of the company is taken out, surely the price would be as well. Imagine 20bil taken out from maybank. Would it stay at rm8? Probably 2-2.5 sounds more logical? Just my thought. Also Not keen on management keep on surprising shareholders with unwanted news. That said, lets see hows the earnings like for this quarter then only can reassess.

@observatory thanks for the information. so what happens to the company? That's the most important. How did the shareholder being rewarded? if by liquidation everyone is getting rm4 per share, that sounds pretty awesome to me.

Anybody can explain why this counter share stagnant, despite raising cpo price? Secretly epf been buying alot lately. PE ratio is on high side, but warranted? Need to learn what others see in the company

Myanmar getting nastier each day got by. Is the company affected by it?

Thanks for educational discussion. My take roughly rm4.5-4.7 is fair. However that could change substantially if they embark on new project. Back to my question anybody know any what happen to company when toll concession ends? Oversea perhaps?

Thanks for the details @observatory. My ballpark calculations estimate the maximum roi for capital invested in the 10y, unless something happen along the way. I have raised similar question as to what happen to any toll company when it finishes its concession. Maybe litrak is first one in malaysia? Unless its getting new project, or venturing into other types of project (airport, ports) i dont see any needs of new highway in kl. 10years is not a long time for management to plan new project, using high cash flow from LDP to finance new project. Lets hope they have vision to grow the company rather than let the money given out as dividend only. Dividend is good, but not if the company liquidated in the end.

after extensive reading of similar companies, BP plastic are still trading below its peer. Low PE and debt free with stable earnings and respectable DY. Wonder why share price always remain stagnant. probably 1.80-2.0 counter at least.

@observatory taking conservative 10c per quarter which translate roughly 10% dividend year with possibly 15% in the final years once the bond fully repaid and liquidation of net cash company. I reckon if we invest now ROI possibly 150-200% around that ball park in the 10years period. Rough estimation of course.

what is IFRS17 in layman term? i read its basically accounting jargon for profit recognition. can someone elaborate further on how that will impact allianz going forward?

I understand the market expectation but we are far from over in terms of economy recovery. Alot of SME still enjoying moratorium. While i agree on dividend yield is good, the growth part is what i am concern as for now. I would prefer to invest in a company that can grow, with decent dividend albeit not superb 8% a year or so. Probably 8-8.5 is acceptable price and Investing now is purely dividend play. That said, no harm having maybank as your financial exposure. Once i am satisfied with my return from other counters i will park my money here as well. Hopefully before rate hikes.

mustakim disposed 4mil ordinary shares on 10/3/21. I have Kpower and I like the projection. But if execs disposing shares doesnt bode well for me.

it was 8rm plus ish staggered of course. simply because i feel with current climate surely it wont go much further than pre pandemic level. Dividend yield with room to grow companies are still out there. litrak is one of them. do you think maybank can go rm10? will the earnings catch up? unless we are all in momentum trading. ride the trend. which is not wrong to be honest.

I agree with the higher insurance price quoted by Allianz.

Insider is buying more and more shares. Any new info?

If the insiders believe in the company shouldn't they buy more? like TLCW at top glove?

I had Maybank at 7.1 sold all staggered during recent peak. because honestly, I don't think it's worth more than pre-pandemic. Even with a booming economy, surely no more than the pre-pandemic level. Unless I am missing something in my thesis and calculations. I am open to factual discussion if anyone can come out with fundamental ratios and earnings.

4% is not a lot for a reit. I thought more of 6-7% a year.

Can somebody tell me how bank reaching pre pandemic level despite main-street barely recovering. So many people being furloughed. Loan loss is expected to rise. Lower loan applications. Unless we are all in momentum trading?

Seems alot of insiders selling shares despite fundamentally strong company. Why?

What happen to earning ratio once the concession ends? Does that means the company share price would be around half the price? Still having hardtime figuring out the business with finite mode of production.

Can someone tell me why the report say’ one off item write off ‘ while they still owning the battersea project? Domestically they seem to be doing fine.

Just to add. Economy not really sun and shine but market price is beyond pre covid for most banking institutions. Logical or bubble?

From investor point of view, any company who got fined 1/4 of their market cap, would u invest in them? Say maybank got fined 25billion. Wouldnt u wait alittle more? Unless we all are traders trying to get the winning side in this zero sum game?

When is warrant will be credited in account? So far nothing happen

So we all are in the zero sum game

Seems like most of people are traders. Can we actually invest in ambank? Anybody can explain their fundamental values?