Correct! The focus here is for Mothershare. CWs only good for IBs & gamblers! You either win Big or lose All! Medium & long term players only have paper gains or loss. Just treat as FD, in the long run you will win, once Operator Pumps!

Thanks for the information. Looks like presently Demand exceeds Supply? Since there is a shortfall of 2% outstanding Short Positions to close for year end? Shorties has no choice but up the price to entice medium to long term players to sell? Accumulate on any dips and we wait for the Pump!

Morning Friends & Gentlemen! Looks like CW 57, 58 & 59 promoters from IBs are fighting among themselves? While medium to long term holders are eating Popcorn and waiting for the Pump & Dump? 最大的胜利是不需要战斗的!

Correct! 1589 has until 23 March 2025 to submit a regularisation plan to Bursa. If really delisted by Bursa, makes it easier for Ekovest to carry out its Merger Plan without opposition from minority. Medium to long-term Ekovest shareholders has no worries. 如果你与魔鬼调情，你必须知道风险和好处. Just wait for LKH to reveal his Trump card and accumulate on any dips!

@theyoungman

1589 is under Para8.03A and not yet due leh. Suspened for what eh? Eventhough if it is going to be delisted, it makes no harm to the bosses and substantial shareholders, poor things retail investors sux thumb nia. What to worry wor, don't invest in it, there r thousands of stocks or companies available. 何必单恋一枝花leh？my2

As announced on 18 October 2024, Bursa Securities had granted the Company (1589 ) a further extension of time up to 23 March 2025 for the Company to submit its regularisation plan to the relevant regulatory authorities.

The Company has approximately 3.5 months to submit a regularisation plan to the relevant regulatory authorities for approval and will make the relevant announcement in relation to its latest development in accordance with the requirements under Paragraph 8.03A of the MMLR.

This announcement is dated 2 December 2024.

Already all time low with Big Margin of safety...Ekovest Duke1&2 & SPE will not lose money over the long term! Just look at Prolintas! Accumulate on any dips and we wait for the big pump & window dressing from the big guys!

Morning Friends & Gentlemen!

Accumulate on any weakness! Book your tickets early for the next Show!
Maybank recommends a 'buy' on CTOS with a TP of RM1.65. The stock has an average TP of RM1.65, based on 11 research houses who covered the stock and had it either on 'buy' or 'outperform'

First Resistance range 1.31 ~1.36, next Next Resistance 1.41~1.46!

CTOS | CTOS Digital Berhad

Nov 12
Third quarter 2024 earnings released: EPS: RM0.012 (vs RM0.011 in 3Q 2023)
Third quarter 2024 results:
EPS: RM0.012 (up from RM0.011 in 3Q 2023).
Revenue: RM79.8m (up 20% from 3Q 2023).
Net income: RM27.6m (up 13% from 3Q 2023).
Profit margin: 35%
Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 8.8% growth forecast for the Professional Services industry in Asia.

Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has fallen by 14% per year, which means CTOS stock price has the potential to increase by 49% to match increase in earnings.

REWARDS
#Earnings are forecast to grow 13.21% per year
#Earnings grew by 70.7% over the past year
#Analysts in good agreement that current stock price of RM1.29~1.30 will rise by average of 27.3%

Morning Friends & Gentlemen!

Good Qtr coming? Everyday big queue at Nishin & their EV Bikes?

https://www.facebook.com/reel/2308133332690684/

Morning Friends & Gentlemen!

Today is last chance to Buy cheap at 1.29/1.30 from Maybank IB as their CW with Exercise Price 1.55 expires at 5pm today! It's a Win-Win for all as next CW only expires on 24 Jan. 2025! First TP range 1.31 ~1.36, next TP range 1.41~1.46 :)

Key Dates To Remember!
#Maybank CW with Excercise Price RM1.55 expires on 27/11
#KWAP has to pay 13% pension adjustment of 13~15% to Government Retirees on 1/12
#Dividend 0.84 sens per share Ex-date 19/12
#Window Dressing by Institutional Funds & IBs in December

Morning Friends & Gentlement!

You are right! Ekovest at 35.5 sens is currently trading at a discount of 56% from its NTA of 0.77. With such a great margin of safety, It only needs a spark from LKH to start a Rally? LKH Macais already ran out of ideas to depress the price, hence the sideway movements. Accumulate on any dips as December is a good month for Window Dressing by Operator & Funds Managers!
https://www.nst.com.my/business/corporate/2024/11/1140213/reviving-hsr-can-strengthen-malaysias-role-southeast-asia-says%C2%A0

Nta 0.77
Highest 0.62
Median 0.47?
SLLEE5732

Lau Lau
How much ( TP) you expect from ekovest?

Recap!
Price Target

CTOS Digital - Seasonally Stronger 2H; Stay BUY
Source : RHB-OSK, Price Call : BUY, Price Target : 1.58
Last Price : 1.19, Upside/Downside : +0.39(32.77%)

Quote
"With the recent positive developments for CTOS Digital Berhad—including a favorable court settlement, solid third-quarter performance, and a declared dividend payout—there is potential for upward momentum in the stock price. Here’s why these factors could positively impact the price:
1. Court Settlement: If the court settlement removes legal or regulatory uncertainties, it may boost investor confidence. A resolved legal issue often leads to a more stable outlook, making the stock more attractive to investors who were cautious due to potential legal risks.
2. Strong Q3 Performance: The recent quarterly results showing steady growth indicate that CTOS is on a solid financial path. Strong revenue and profit growth, especially with expanding key accounts and new regional ventures, could further instill confidence among investors about the company’s growth prospects.
3. Dividend Payout: The declared dividend not only rewards current shareholders but may also attract new investors looking for income-generating stocks. As the ex-dividend date approaches, there may be increased buying interest, leading to short-term upward pressure on the price.

Given these positive developments, CTOS’s stock could see a price increase in the near term."

Accumulation in progress! Just follow the Big Buyer! Should Breakout sooner or later since Bursa is Bullish!

Recap!
Follow EPF to accumulate on current weakness. Next week you won't get at this price, once Maybank's CW expires with Exercise price of RM1.55.!

Maybank IB, has kept its earnings forecast for CTOS for FY2024 to FY2026, and anticipates a strong end to its FY2024 on another record quarterly turnover, underpinned by a previously deferred key account project, renewed commercial optimism, continued double-digit international growth momentum, and stronger associate contributions from JurisTech and RAM Holdings.

"The recent share price correction, coupled with undemanding valuations (trading at circa 19 times FY25E price earnings ratio) provides an opportunity to accumulate a niche service provider with a dominant market share in an underserved yet rapidly growing industry," Maybank wrote in a separate note as it recommended a 'buy' on the stock with a TP of RM1.65.

The stock has an average TP of RM1.65, based on 11 research houses who covered the stock and had it either on 'buy' or 'outperform'

Morning Friends & Gentlemen!
Why Run? When you can Fly?

In Summary:

IWCity is only a Paragraph 8.03A affected listed issuer. The property developer stressed that it is not a Practice Note 17 (PN17) company.

Paragraph 8.03A refers to a listed corporation whose assets on a consolidated basis consist of 70% or more of Cash or Short-term Investments, or a combination of both.

Ekovest as a White Knight for IWCity, will benefit from the proposed merger, to access to IWCity's 70% or more cash or short-term investments & 1000 acres landbank in Johor to benefit from JSEZ Theme Play once JSEZ Agreement signed on 9/12?

Bursa is Bullish today! Don't miss! Very strong Buy at 1.30! Should test Resistance 1.31 anytime? Be Greedy when others are Fearful! Accumulate on any dips. There is a high chance of CTOS reaching RM1.41~RM1.42 in the short term as selling by KWAP seems to have completed as no more major roadblocks in sight? Don't let EPF grab all the cheap shares.

Annual Seasonal Analysis indicates, CTOS price was RM1.41 in Nov, 2023 and RM1.42 in Nov. 2022. In view of CTOS increased profitability & dividend Ex-date on 19in Dec. 2024, TP of at least RM1.41~1.42 is achievable in view of year-end window dressing by IBs & Major Shareholders!
https://ibb.co/mB7vwDL

Morning Friends & Gentlemen!
Are you ready for another exiting day?
Yesterday RM5 million worth of CTOS shares changed hands at @1.29 within a short span of time in the last hour of trading between IBs or Big Sharks with a big block placed at 1.29 (which has magically disappeared today) to deter buying by retailers?

The good news is Maybank's CW with exercise price of RM1.55 expires on 27 November and the next CW only expires in 2 months time. What it means is that IBs could pump CTOS within this short period of time from 1.31~1.51? Also KWAP may have collected enough cash to pay Govt Retiree's 13% pension adjustment on 1 December, 2024 so no more cheap sales?. Also CTOS will be quoted ex-Dividend of 0.84 sens from 19 December followed by Year-end window dressing by Institutional Funds & IBs?

Accumulate on any weakness and we wait for the Breakout!

CTOS-C8: CW CTOS DIGITAL BERHAD (MIBB)

Instrument Category Structured Warrants
Instrument Type CALL WARRANTS
Type Of Expiry Expiry/Maturity of the securities
Exercise/ Strike/ Conversion Price Malaysian Ringgit (MYR) 1.5500
Exercise/ Conversion Ratio 1.25:1
Settlement Type / Convertible into Cash
Last Date & Time of Trading 27 Nov 2024 05:00 PM
Date & Time of Suspension 28 Nov 2024 09:00 AM

Morning Friends & Gentlemen!
The party has just started! Accumulate on any weakness, once RM1.29 is broken we should test RM1.31 & RM1.36 soon! Tp of at least 1.41~1.65 is on the way!

Maybank IB, has kept its earnings forecast for CTOS for FY2024 to FY2026, and anticipates a strong end to its FY2024 on another record quarterly turnover, underpinned by a previously deferred key account project, renewed commercial optimism, continued double-digit international growth momentum, and stronger associate contributions from JurisTech and RAM Holdings.

"The recent share price correction, coupled with undemanding valuations (trading at circa 19 times FY25E price earnings ratio) provides an opportunity to accumulate a niche service provider with a dominant market share in an underserved yet rapidly growing industry," Maybank wrote in a separate note as it recommended a 'buy' on the stock with a TP of RM1.65.

The stock has an average TP of RM1.65, based on 11 research houses who covered the stock and had it either on 'buy' or 'outperform'

Morning Friends & Gentlemen!

Accumulate CTOS on dips while price is still low at RM1.22 before the "Window of Opportunity" is gone as current KWAP buying and selling is not a factor that affects the stock price. It is currently rebalancing its portfolio to raise cash to meet increase in pension adjustments of up to 15% for Government retirees from December 1, 2024 as announced by PMX in the recent Budget.

KWAP's Loss is your Gain, as every extra share you acquire will receive 0.84 sens Dividend by 19 December on top of potential Capital Gains of 30~50%! CTOS has market potential of RM2.7 billion to be tapped in Malaysia and Internationally, with stronger growth in the fourth quarter and next year as it adds projects and products, analysts said. Analysts expect increased adoption of CTOS Digital’s alternative scoring business, coupled with “cross-selling opportunities” in portfolio review and analytics solutions, to see stronger growth in 2025.

Investing in CTOS is actually better than short term FD! First TP range is between RM1.36~1.42 followed by next TP range of RM1.50~RM1.80!

https://www.thestar.com.my/business/business-news/2024/11/13/ctos-to-focus-on-growing-its-commercial-segment

*Note.
In 2024, Malaysia's pension adjustments will be based on the final salary adjustments for retirees in December 2024. The adjustments will be implemented in two phases, with the first phase starting on December 1, 2024. 

Details
Salary adjustments
Civil servants will receive a salary increase of 15% for executives and professionals, and 7% for top management.

Pension adjustments
Retirees and derivative pension recipients will receive pension adjustments with the same percentage increments as active civil servants.

CTOS digital rating raised as potential market of NT$2.7 billion to be tapped
Sinchew Tue, Nov 12, 2024

Morning Friends & Gentlemen! If you have missed CTOS, don't miss Muhibah! Be Greedy when others are Fearful. Accumulate on current weakness and let's wait for the Rebound!
https://www.thestar.com.my/business/business-news/2024/09/23/muhibbah-to-ride-on-tourism-recovery-in-cambodia

Yes! Way to Go! Buy the Dip!

# 1.
https://www.nst.com.my/news/nation/2024/10/1114313/johor-singapore-sez-agreement-be-inked-dec-8

#2.
https://www.bharian.com.my/bisnes/lain-lain/2024/01/1207076/kemajuan-pembinaan-projek-rts-link-mendahului-jadual-asal

#3. Ekovest agrees to six-month extension for merger discussion between subsidiary and Knusford
https://theedgemalaysia.com/node/720615

#4.
https://www.bharian.com.my/bisnes/korporat/2024/11/1321061/ekovest-mahu-jual-konsesi-duke-pada-harga-rm5-bilion-saham-melonjak

The facts remains the same. Accumulate on any weakness, the show is just beginning with more news release?

Malaysian Real Estate Magnate Gets Ready To Tap Prized Land Bank

Malaysia’s expanding economic ties with Singapore have made the southern state of Johor, where a new special economic zone is to be created, an investment hotspot for its tycoons. (SJ-SEZ to be signed on 8 December.)

Notable among them is property and construction magnate Lim Kang Hoo, whose firm, Ekovest Construction, a unit of his listed Ekovest, was awarded a nearly 2 billion ringgit ($422 million) contract in 2022 to build a rail link between the two neighbors that is now nearly two-thirds complete. (RTS Link to be completed soon by Ekovest)

Looking to leverage his group’s massive land bank in Johor, Lim announced a restructuring plan in September to consolidate privately held Knusford and Iskandar Waterfront Holdings as well as listed Iskandar Waterfront City (IWC) under Ekovest. (Once LKH monetize Duke 1&2, Ekovest will have the cash for the Merger Plan which is in progress?)

LKH has given the signal? Otherwise why all the news outlets got news of the RM5 billion toll road sale all at the same time?

More good news to come?
Anwar continues intensive schedule in Beijing, to begin with business meeting with CICC. Anwar will pay a courtesy call on Chinese President Xi Jinping in the Chinese capital.

Anwar will receive great honour, since Xi has agreed to host a dinner for him at the prestigious Great Hall of the People.

By Massita Ahmad / Bernama

07 Nov 2024, 10:35 am

https://theedgemalaysia.com/node/733044

"China International Capital Corporation (CICC) is a financial services company that offers a range of services including investment banking, asset management, and wealth management. CICC has been involved in several projects related to China's national strategies and the development of its capital markets. 

CICC may be involved in the Kuala Lumpur-Singapore High Speed Rail (HSR) project through a consortium of Chinese and Malaysian companies. In September 2019, Housing and Local Government Minister Nga Kor Ming reported that Chinese President Xi Jinping expressed interest in China's participation in the project."

Well said! @Albukhary

Last chance to collect cheap today from IBs before Macquarie's CW expires today. IBs will push for a good year-end closing.

The JS-SEZ agreement which will be signed on 8 December is expected to attract more multinational firms into Johor (where Ekovest has 1,000 hectares of landbank) as part of their risk-management strategy caused by U.S.-China trade tensions after reelection of Trump!.

https://www.aseanbriefing.com/news/singapore-and-malaysia-plan-joint-special-economic-zone-in-johor-state/
"Good closing, finally touch 37sen.
Hope tomorrow we can see Ekovest stand above 38.50sen.

Our Malaysia stock market have been hammered down since end of July'24 till now.
Many retail investor has lost their faith and their interest on stock market.
We need a small bull run to gain back the confidence and interest of retailer.
All the private banking, unit trust, wealth consultant, investment consultant that advise their customer to invest in unit trust also need a positive result by end of the year, otherwise they don't have face to face the client, and their commission / bonus all will be affected also.

Therefore, I sincerely hope Malaysia stock market can have a small bull run, whereby KLCI can touch 1700, FBM70 can touch 19,000 and FBMSCAP can touch 20,000 above by end of the year.

Morning Friends & Gentlemen!

CGS Analysis on Muhibah. Accumulate on any weakness!

Possible large construction and crane wins
■ Possible large construction and crane wins on the horizon
■ Cambodia Airports working towards a win-win outcome by 2Q25F
■ Valuations remain cheap at FY25F P/E of 8x (vs. sector average of 17x); Up/downside: 64.4%reiterate Add, with an unchanged SOP-based TP of RM1.34

Construction earnings picking up, bidding for large projects. We hosted a meeting with Muhibbah’s management on 12 Sep 24. In our view, the key takeaway is possible large lumpy wins after a lull. Muhibbah’s orderbook (construction and RM593.8mcranes) remains resilient, at RM1.6bn as at Aug 24 (Fig 5), albeit down from its recent peak of RM2.4bn. It has yet to win any material contracts this year but has submitted a large tender for an EPCC role for the Land Lebah gas field. Given its prior experience with similar projects in Gansar, Bekok and Bindu in Terengganu, we see it being a frontrunner Free float: 73.3%for this project. We are also encouraged that its construction earnings delivery has picked up in strongly in 2Q24 with pretax profit of RM40m (2Q23: RM1m pretax loss) driven mainly by its EPCC and installation role for the Gansar project in Terengganu for Petronas CarigaliKey changes in this note(RM400m-500m remaining, including additional scope of RM318m awarded in late-2023). We raise FY24F/FY25F/FY26F EPS by 5%/4%/2% to account for additional scope Muhibbah’s value proposition is not in government infrastructure or the data centre space for its engineering, procurement, but more in marine-based construction and offshore platforms leveraging on its Petronas construction and commissioning (EPCC) job fabrication licence, in our view. Its crane business under Favelle Favco has been invited to for the Gansar project, and EPCC and tender for the supply of tower cranes for the world's biggest construction project known as installation of Bindu A (jacket and topside)Neom in Saudi Arabia; the tender will close at end-Sep 24 with a potential award by early next year. Another key division within its infra segment is CiTech, a supplier of waste heat recovery units (WHRUs) with an orderbook of RM25m and tenderbook of RM1.1bn as at Aug 24. CiTech’s clientele includes Petronas Carigali, Siemens and Keppel.

Working towards a win-win outcome for Cambodia airports. Muhibbah owns a 21% effective stake in Cambodia Airports, which manages two operating airports in Cambodia – in Phnom Penh and Sihanoukville. Passenger arrivals to the two airports rose 18% yoy to 2.3m in 1H24, and should hit 5m for 2024F, in our view. Cambodia Airports accounted for most of Muhibbah’s 1H24 associate profits, which rose 63% yoy to RM30m; this is commendable as 1H23 included the Siam Reap airport concession. The Khmer Times on 3 Sep 24 highlighted that construction of Techno International Airport in Kandal, near Phnom Penh was 80% complete and it will open in mid-2025F, replacing the Phnom Penh airport. We maintain our view that the most likely scenario involves Airports receiving compensation for investment incurred until the Phnom Penh airport concession is surrendered and that it will be engaged to operate the new airport at Kandal, based on a fixed fee structure and with some element of profit sharing.

Reiterate Add and SOP-based TP of RM1.34. We like Muhibbah for its cheap valuation at FY25F P/E of 8x (vs. sector of 17x) and for being a proxy for a recovery in tourist arrivals via Cambodia Airports, while its Petronas fabrication licence should enable it to clinch more Petronas jobs, in our view. Key downside risks are non-continuity in earnings delivery and higher raw material costs. Re-rating catalysts include better earnings delivery and stronger tourist arrivals in Cambodia.

Morning Friends & Gentlemen! Bursa is Bullish Today! Congratulations to Ekovest for Winning the SPE Road Engineering Excellence Award by the Road Engineering Association of Malaysia (REAM).
https://www.klsescreener.com/v2/news/view/1419991

It's now a waiting game. Shorties can't make money if there's no volume. That's why Ekovest is no longer Shorties flavour of the day. IBs will pump sooner or later to promote sales of the new CWs, otherwise no income?

Yes! Macquarie CW last day of trading on 7 Nov. Keep a lookout for a sudden surge in Ekovest mother share price as IBs will be promoting their new CWs to Market! Exercise price ranges from 0.5 to 0.60 for majority of new CWs. Accumulate on current weakness and wait for the Pump!

1. EKOVEST-C55: CW EKOVEST BERHAD (MACQ) by Macquarie IB

Instrument Category Structured Warrants
Instrument Type CALL WARRANTS
Type Of Expiry Expiry/Maturity of the securities
Exercise/ Strike/ Conversion Price Malaysian Ringgit (MYR) 0.4800
Exercise/ Conversion Ratio 1.7:1
Settlement Type / Convertible into Cash
Last Date & Time of Trading 07 Nov 2024 05:00 PM

It's now a waiting game. Shorties can't make money if there's no volume. That's why Ekovest is no longer Shorties flavour of the day. IBs will pump sooner or later to promote sales of the new CWs, otherwise no income? Accumulate on any Weakness before the next positive wave.

Yes! Macquarie CW last day of trading on 7 Nov. While Affin CW expired on 21 Oct. There could be a sudden surge in Ekovest mother share price as IBs will be promoting their new CWs to Market! Exercise price ranges from 0.5 to 0.60 for majority of new CWs. Accumulate on current weakness and wait for the Pump!

1. EKOVEST-C55: CW EKOVEST BERHAD (MACQ) by Macquarie IB

Instrument Category Structured Warrants
Instrument Type CALL WARRANTS
Type Of Expiry Expiry/Maturity of the securities
Exercise/ Strike/ Conversion Price Malaysian Ringgit (MYR) 0.4800
Exercise/ Conversion Ratio 1.7:1
Settlement Type / Convertible into Cash
Last Date & Time of Trading 07 Nov 2024 05:00 PM

2. EKOVEST-C54: CW EKOVEST BERHAD (AFFIN) by Affin IB

Instrument Category Structured Warrants
Instrument Type CALL WARRANTS
Type Of Expiry Expiry/Maturity of the securities
Exercise/ Strike/ Conversion Price Malaysian Ringgit (MYR) 0.4800
Exercise/ Conversion Ratio 2 : 1
Settlement Type / Convertible into Cash
Last Date & Time of Trading 21 Oct 2024 05:00 PM

Morning Friends & Gentlemen!
What we know so far on IWCity & Ekovest In Summary:

IWCity is only a Paragraph 8.03A affected listed issuer. The property developer stressed that it is not a Practice Note 17 (PN17) company.

Paragraph 8.03A refers to a listed corporation whose assets on a consolidated basis consist of 70% or more of cash or short-term investments, or a combination of both.

Ekovest as a White Knight for IWCity, will benefit from the proposed merger, to access to IWCity's 70% or more cash or short-term investments & 1000 acres landbank in Johor to benefit from JSEZ Theme Play coming soon?

Recap!

What we know so far on IWCity & Ekovest In Summary:

IWCity is only a Paragraph 8.03A affected listed issuer. The property developer stressed that it is not a Practice Note 17 (PN17) company.

Paragraph 8.03A refers to a listed corporation whose assets on a consolidated basis consist of 70% or more of cash or short-term investments, or a combination of both.

Ekovest as a White Knight for IWCity, will benefit from the proposed merger, to access to IWCity's 70% or more cash or short-term investments & 1000 acres landbank in Johor to benefit from JSEZ Theme Play coming soon?

EKOVEST still has
# A large outstanding amount for construction projects (Contract Assets to be monetized) RM114 Million,
# Progress of RTS project has made a positive contribution to revenue (Revenue during the reporting period was RM638.873 Million, a significant increase of 21% compared to last year's RM526.988 Million),
# Highway revenue has been negatively affected by non-receipt of the expected road compensation payment of RM64.0 Million in 2023. This compensation of RM64 Million due from Government may be received once allocated in the coming Budget 2024/2025?.
# Meantime Ekovest sold 17 parcels of land in KL (Jalan Pahang land) to LKH & Airman to cover its current Cashflow with cash proceeds of RM66.8M + RM9.82M = RM76.62 Million, to be recognised in the next Qtr.
# Ekovest is highly shorted with Net Short Position of RM58.25 Million (1.96%) on 29/8. If not enough Volume/Seller at lower price Sold by Operator (i.e. 36~36.5
sen) for RM58.25 Million worth of borrowed shares in next few trading sessions, Operator will have to Buy at higher price than 36~36.5 sen to cover back these Short Position. That's why Operator Agents are working very hard to scare uninformed Retailers to Sell cheaper?

According to the information in EKOVEST’s latest financial report, the following are the specific situations regarding the outstanding construction funds, RTS project revenue and the decrease in highway revenue:

#Outstanding construction balances:
- The total outstanding amount (Contract Assets) of the construction segment is approximately RM113.421 million.

#RTS project income:
The progress of the RTS Link project has significantly increased the revenue of the construction segment this financial year. Revenue during the reporting period was RM638.873 million, a significant increase compared to last year's RM526.988 million.

#Reduction in highway revenue:
The decrease in highway revenue is mainly due to the non-receipt of the expected road compensation payment of RM64.0 million in 2023. In addition, the toll rate adjustment on the Duke 1 & 2 Expressway from January 1, 2024 has not yet been confirmed, further affecting revenue.

According to Wall Street analysts, the average 1-year price target for MUHIBAH is 1.295 MYR with a low forecast of 1.212 MYR and a high forecast of 1.407 MYR.

Lowest
Price Target 1.212 MYR
31% Upside
Average
Price Target 1.295 MYR
40% Upside
Highest
Price Target 1.407 MYR
52% Upside

https://www.alphaspread.com/security/klse/muhibah/analyst-estimates

Analysis By Foreign Analyst.
Muhibbah Share Price vs Fair Value
What is the Fair Price of MUHIBAH when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

51.8% Undervalued
Current Price RM 0.93
Fair Value RM 1.92

REWARDS:
#Trading at 51.8% below our estimate of its fair value
Earnings are forecast to grow 31.83% per year
#Became profitable this year
RISK ANALYSIS:
#No risks detected for MUHIBAH from our risk checks.

Trading View, Recommends a Very Strong Buy at current low price!
https://www.tradingview.com/symbols/MYX-MUHIBAH/

Muhibbah Engineering Bhd
Target price: RM1.34 ADD

CGS INTERNATIONAL (SEPT 17): The key takeaway from a recent meeting with Muhibbah’s (KL:MUHIBAH) management is possible large lumpy wins after a lull. Muhibbah’s order book (construction and cranes) remains resilient, at RM1.6 billion as at August 2024, albeit down from its recent November 2023 peak of RM2.4 billion.

It has yet to win any material contracts this year but has submitted a large tender for an engineering, procurement, construction and commissioning (EPCC) role for the Land Lebah gas field. Given its prior experience with similar projects in Gansar, Bekok and Bindu in Terengganu, we see it as a frontrunner for this project. We are also encouraged that its construction earnings delivery has picked up strongly in 2Q24, driven mainly by its EPCC and installation role for the Gansar project for Petronas Carigali.

We like Muhibbah for its cheap valuation at FY25F PER of eight times (versus the sector’s 17 times) and for being a proxy for a recovery in tourist arrivals via Cambodia Airports, while its Petroliam Nasional Bhd fabrication licence should enable it to clinch more Petronas jobs, in our view. Key downside risks are non-continuity in earnings delivery and higher raw material costs.

https://theedgemalaysia.com/node/727766

Muhibbah is also likely to clinch more Petroliam Nasional Bhd (PETRONAS) jobs via its PETRONAS fabrication licence, CGS International Research (CGSI Research) said in a report.
https://www.upstreamonline.com/field-development/petronas-unveils-platforms-bonanza-for-malaysian-projects/2-1-1575593

Morning Friends & Gentlemen! Accumulate before news is out!
Muhibbah Engineering (M) Bhd is expected to benefit from a tourism recovery in Cambodia, analysts say.

The company owns a 21% effective stake in Cambodia Airports which manages two operating airports in Cambodia.

It is also likely to clinch more Petroliam Nasional Bhd (PETRONAS) jobs via its PETRONAS fabrication licence, CGS International Research (CGSI Research) said in a report.

“We hosted a meeting with Muhibbah’s management on Sept 12 and in our view, the key takeaway is possible large lumpy wins after a lull,” the research house said.

It noted Muhibbah’s order book for construction and cranes remained resilient at RM1.6bil as of Aug 24, albeit down from its recent Nov 23 peak of RM2.4bil.

“It has yet to win any material contracts this year but has submitted a large tender for an engineering, procurement, construction and commissioning role for the Lang Lebah gas field in Sarawak.

“Given its prior experience with similar projects in Gansar, Bekok and Bindu in Terengganu, we see it being a frontrunner for this project,” the research house said.

CGSI Research said that passenger arrivals at the two Cambodian airports rose 18% year-on-year (y-o-y) to 2.3 million in the first half of 2024 (1H24), and should hit five million for the entire year.

The research house added that Cambodia Airports accounted for most of Muhibbah’s 1H24 associate profits, which rose 63% y-o-y to RM30mil.

“This is commendable as 1H23 included the Siam Reap airport concession. “

Citing The Khmer Times, the research house said the construction of Techno International Airport in Kandal, near Phnom Penh was 80% complete and will open in mid-2025, replacing the current Phnom Penh airport.

“We maintain our view that the most likely scenario involves Cambodia Airports receiving compensation for investment incurred until the Phnom Penh airport concession is surrendered and that it will be engaged to operate the new airport at Kandal, based on a fixed-fee structure and with some element of profit sharing,” the research house said.

While it said it liked Muhibbah for its cheap valuation at next year’s financial year price-earnings ratio of eight times versus the sector’s 17 times, it noted key downside risks were the non-continuity in earnings delivery and higher raw material costs.

Re-rating catalysts for the company include better earnings delivery and stronger tourist arrivals in Cambodia, the research house said.

https://www.thestar.com.my/business/business-news/2024/09/23/muhibbah-to-ride-on-tourism-recovery-in-cambodia

It's a good question? As give opportunities to average down or book tickets for next show!

Hi @speakup if you have played & won against VT/Bjland before, you will know how Ekovest will work out sooner or later. Accumulate on Weakness as Ekovest with Duke 1,2 & 3 long term cashflow stream of up to 56 years! & King's support is simply too big to fail!

Welcome on-board! Let's ride the Ekovest waves together!

@ocbc

drop more better so Foreign funds waiting to buy at lelong price . Lol

Recap!
https://www.nst.com.my/property/2023/09/954798/rts-link-game-changer-johor-bharu-real-estate-market

@Boringguy Thanks for putting 2 plus 2 together...CRCC/CICO & Ekovest Consortium looks good? Now we know why Ekovest acquired the 4 parcels of TOD land in JB all along RTS. Was in HK & Guangzhou recently, likes the way China integrated their TOD along Subways like Guangzhou Metro, Hong Kong MTR & China High-speed Rail network with Shopping Malls/Hotels/Residences with One Stop convenience.
https://www.scmp.com/economy/china-economy/article/3277512/it-full-steam-ahead-chinas-high-speed-rail-network-after-summer-travel-surge

Rebound coming soon! Accumulate on Weakness!

"Ekovest Announces Groundbreaking Collaboration with CICO, a Fortune 500 Company, for Infrastructure Advancement in Malaysia• Leveraging CICO global expertise for ambitious infrastructure projects in Malaysia.• Collaboration includes TOD projects, large-scale infrastructure, and food security initiatives.• Strategic alliance aims to provide mutual economic benefits, ensuring balanced participation and leadership rights."

Btw Dow Jones & Nasdaq has staged a Strong Rebound!
https://www.investors.com/market-trend/stock-market-today/dow-jones-futures-nvidia-nvda-tsla-ai-stock-oracle/

Friends & Gentlemen! After A Storm, Rainbow 🌈 will appears soon!
Take notice that even Notion which has been shorted down has Rebound! So can Ekovest, since all bad news has been discounted by Market!

Notion VTec shares rebound, up 24%
https://theedgemalaysia.com/node/725154

Morning Friends & Gentlemen!
Don't forget about the 4 parcels of TOD land purchase by Ekovest all along RTS in Johor. Should be completed by now?

https://www.businesstoday.com.my/2023/10/28/ekovest-bets-big-in-johor-with-proposed-rm310-million-land-purchase/

Thanks for Sharing Guys. What we know so far on Ekovest In Summary:

EKOVEST still has
1. A large outstanding amount for construction projects (Contract Assets to be monetized) RM114 Million,
2. Progress of RTS project has made a positive contribution to revenue (Revenue during the reporting period was RM638.873 Million, a significant increase of 21% compared to last year's RM526.988 Million),
3. Highway revenue has been negatively affected by non-receipt of the expected road compensation payment of RM64.0 Million in 2023. This compensation of RM64 Million due from Government may be received once allocated in the coming Budget 2024/2025?.
4. Meantime Ekovest sold 17 parcels of land in KL to LKH & Airman to cover its current Cashflow with cash proceeds of RM66.8M + RM9.82M = RM76.62 Million, to be recognised in the next Qtr.
5. Ekovest is highly shorted with Net Short Position of RM58.25 Million (1.96%) on 29/8. If not enough Volume/Seller at lower price Sold by Operator (i.e. 36~36.5
sen) for RM58.25 Million worth of borrowed shares in next few trading sessions, Operator will have to Buy at higher price than 36~36.5 sen to cover back these Short Position. That's why Operator Agents are working very hard to scare uninformed Retailers to Sell cheaper?

According to the information in EKOVEST’s latest financial report, the following are the specific situations regarding the outstanding construction funds, RTS project revenue and the decrease in highway revenue:

#Outstanding construction balances:
- The total outstanding amount (Contract Assets) of the construction segment is approximately RM113.421 million.

#RTS project income:
The progress of the RTS Link project has significantly increased the revenue of the construction segment this financial year. Revenue during the reporting period was RM638.873 million, a significant increase compared to last year's RM526.988 million.

#Reduction in highway revenue:
The decrease in highway revenue is mainly due to the non-receipt of the expected road compensation payment of RM64.0 million in 2023. In addition, the toll rate adjustment on the Duke 1 & 2 Expressway from January 1, 2024 has not yet been confirmed, further affecting revenue.

Yes!
GROUP'S PROSPECT
Secured Order Book As at 22 August 2024, the Group's total outstanding secured order book in hand for the construction and cranes division is RM1.623 billion.

Prospect
The regional infrastructure and oil & gas industry are seeing more capital investments in near future which is a boon for the Group's business moving forward.

That's why the Recommendation is Accumulate on Weakness before the Sharks & Foreign Funds come! Now only nibbling, more chance to grab while still penny stock & we wait for the Breakout!

Good Morning Friends & Gentlemen!
Dow Jones is now at Record High! A PBT of RM78.5 million and Order Book of RM1.632 Billion is announced by Muhibbah for current Qtr, A Rebound is Coming Soon! Once Muhibbah exits Penny Stock Status, Muhibbah will be re-rated with more Foreign & Institutional Fund Buyers, soft target 1.25 with TP 1.34!

Recommendation:
Accumulate on any Weakness!

MUHIBBAH ENGINEERING (M) BHD

REVIEW OF GROUP PERFORMANCE (YTD 2024 vs. YTD 2023)
The Group reported higher consolidated revenue with higher profit before tax of RM78.5 million for the financial period ended 30 June 2024 as compared to consolidated revenue of RM694.9 million and profit before tax of RM23.1million respectively for the corresponding period ended 30 June 2023.This improvement in both Group revenue and Group profit before tax are mainly contributed by Concession division and better performance of Marine Shipyard and Infrastructure Construction divisions.

COMPARISON WITH PRECEDING QUARTER RESULTS (Q2 2024 vs. Q1 2024)
The Group reported higher consolidated revenue of RM728.0 million ascompared to RM413.9 million in the preceding quarter mainly due to higher revenue from all divisions.This quarter reported higher profit before tax of RM47.5 million as compared to RM30.9 million in the preceding quarter mainly due to better performance from Infrastructure Construction, Marine Shipyard and Concession (Airport).

GROUP'S PROSPECT
Secured Order Book As at 22 August 2024, the Group's total outstanding secured order book in hand for the construction and cranes division is RM1.623 billion.

Prospect
The regional infrastructure and oil & gas industry are seeing more capital investments in near future which is a boon for the Group's business moving forward.

Yes! Especially when Kobay's core Manufacturing Biz shows improvement. As already reached 52 week low, downside risks are minimal as Nvidia the Bellweather for Tech Global beats market expectations! Just follow Directors accumulate on current weakness!

https://uk.finance.yahoo.com/news/nvidia-reports-record-quarterly-revenue-204626662.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAEys9WFSkfEVEU7L313_CC2NTxRW-4zTsTMe1cZGx8ztsObnY7nPaRAKUOPVA9gaT13J0ZiYEKzwPw9wusxRKqwSjHxuWycWTUq_j1kq60ZhyqyCTv8cOSs8BVj0SQdnW7HW9a-l_XYRZoYDrlIhZz7SBRzb4zmz1YU-HQPiOjkK

@8u29song

I see opportunity...

Result for currently Qtr. looks good for Kobay, as core Manufacturing Biz shows improvement primarily from increasing sales orders, particularly within the component, aerospace, and surface treatment divisions. Rebound soon! Follow Directors to accumulate on current Weakness!

Also Nvidia reported second-quarter earnings that beat Wall Street expectations and provided stronger-than-expected guidance for the current quarter. The company also authorized an additional share buyback of $50 billion.

Kobay 4Qtr Result
Statement of Profit & Loss and Other Comprehensive Income

Kobay Group reported revenue and profit before tax ("PBT") of RM89.5 million and RM5.9 million respectively for the current quarter, reflecting a 31% increase in revenue and a 758% increase in PBT compared to the corresponding quarter of the preceding year. For current YTD, cumulative revenue (Total Qtr1 to Qtr4) of RM327 million with PBT of RM22.2 million.

1.1 Segmental Analysis Summary

#Manufacturing
The manufacturing division has demonstrated improving results, with a 37% QoQ increase in revenue and a 518% QoQ increase in PBT. The QoQ improvement primarily resulted from increasing sales orders, particularly within the component, aerospace, and surface treatment divisions.

#Property Development
The property division showed a slight improvement QoQ, with a 62% increase in revenue.

#Pharmaceutical & Healthcare
The revenue reported for the pharmaceutical and healthcare division showed a 14% increase QoQ and a 4% increase YoY.

#Asset and Investment Management
The Asset and Investment Management Division reported an increase in revenue of 27% QoQ and of 236% YoY. The profits primarily stem from generating income through dividends paid by subsidiary companies to the holding company.The revenue increase is largely attributed to the hospitality management services at Langkawi, significantly enhancing the division's performance.

Good Morning Friends & Gentlemen!
Looks like a good Qtr. 2 for Muhibbah?
Recommendation: Accumulate on any weakness!

Interesting information. Need to do more research. Maybe can find more leads on LSH from this article?
https://theedgemalaysia.com/article/ekovest-md-lim-keng-cheng-trims-stake-ceases-be-substantial-shareholder


p.s.