yongch which oil n gas event you attend? like to join next time if got chance.

JJTan ,let yongch sell all his position to you when he predict Deleum can not cross RM1.30.If 1 day Deleum break this price,ask him belanja u because he did the wrong dicision making

mONEY122, YOU MEANS SHARE BUY BACK. hA hA!

dont put your faith on the romours that this company wil get the new project like kawasari due to subsidiary of MISC.I guess management still strugeling with the current politic & economic turmoil issue.that why until now still no news of petronas direction.

nikicheong if your statement is true,EPF & retirement fund already buying aggresively,why no substantial share holder trading record within this 2 month.August trade only 9.9mil compare 41mil (Jan 2018) & 31mil (Feb2018)

talk noncense,now aday any contract need go thru open tender,no more BN era practice

net profit drop half due to strong RM & low revenue from milk division

what can i said is BOD take precaution measurement to ensure annual profit maintain at certain level & they afford to paid dividend to sareholderthat is more than enough.

yoong r u long term investor,at least 5 -7 years

brent now alreadt 75.65

belanja me if u win

if you confident Brend oil can reach USD80,go ahead.

The issue of the breeders that carried virus not the main issue, main factor of price drop due to investor can not get the return from the right issue 6 yaers ago,now BOD continue request money from minority share holder.How BOD convience us? please tell us? otherwise,the history of Sapura Energy on last friday wil repead instead,who know?

study quarter report carefully than u will benefit from it! no cheeting.must read

when unhealthy cell withdraw from body.this counter become healthy n react normally.so restructuring ia the must process to rejuvenis the corporate itself

my tp rm2 by mid 2019

told u already.dont ever remember history. look to the future hope.tp 75 cent

dont behaved like a people who dont understand the accounts/balance sheet.When you buy share,you buy a future hope ,not historical data.

Ya, even the quarter report so bad loss RM151mil.but on the other hand after disposal of POSH,this company should be break even.See when we exclude the loss of disposal,maybulk only incurred loss 3mil,it show a good improvement if compare with previous quarter.

jordan, if johotin can make very good profit when can one profit drop 25%,my TP should be RM1.30.

kian Joo profit drop 69% ,it business similar with johotin,will johotin follow the same trend? nobody know.

cheers!

if come to the worst,i think every counter have their floor price.let guess what the floor price by end of the year.

after so deep analysis,so what your TP by end of the year before right issue,pls share,thanks.

really suprise,when other chicken farm continue show profit growth,except MFM cotinue 3 quarter show record low profit.this 1 half even drop 83% sayonara!

Base on the clarification from MFM CFO, i change my mind to down grade TP to RM0.95 due to lost of confident toward their management.

See this is the consequences of engaged inexperiance personnel to manage the poultry processing & flour and Grain :

refer to the statement from their CFO

Cheang said towards the end of last year, MFM unknowingly bought a batch of breeders that carried the poultry virus IBH, which stands for inclusion body hepatitis, causing their offspring to be similarly infected. This doubled the group’s broiler mortality rate to 7% from the usual 3%.

“And we were struggling with a labour shortage, which started in the second half of 2016 and lasted almost a year. When we finally got a batch of new workers in the middle of last year, they were not experienced enough to spot the anomalies in the chickens,” he said.

Additionally, Cheang said the group incurred higher cost due to the procurement of poorer-quality corn that was meant to produce feed for chickens.

how can this incident happen in this company who operated almost 49 year. ridiculous - In KALI LAH MALAYSIA BOLEH.

KUALA LUMPUR: Between January and June this year, grain and poultry player Malayan Flour Mills Bhd (MFM) faced a “perfect storm” — in the words of chief financial officer (CFO) Cheang Kiat Cheong — that was the culmination of a rare combination of adverse factors that affected the company simultaneously.

There was a poultry virus infection in its farms, while the company was dealing with having purchased poor-quality corn for its poultry feed. At the same time, the company was still grappling with the consequences of a labour shortage that ended just six months earlier in mid-2017.

While MFM’s management reacted swiftly in each situation by putting in place various damage controls, Cheang said the impact of having weathered such adversity will be seen in its financial performance for the first half of the financial year ending Dec 31, 2018 (1HFY18).

“[But] we will definitely not lose money in FY18, and FY19 will be a much better year,” he told The Edge Financial Daily in an interview recently.

MFM’s fiscal results for the first quarter of FY18 (1QFY18) already reflected a tough start for this financial year: The group posted a net profit of RM1.6 million, down a hefty 94% from RM24.91 million a year ago, while revenue retreated 7% to RM563.82 million from RM604.18 million.

Cheang said towards the end of last year, MFM unknowingly bought a batch of breeders that carried the poultry virus IBH, which stands for inclusion body hepatitis, causing their offspring to be similarly infected. This doubled the group’s broiler mortality rate to 7% from the usual 3%.

“And we were struggling with a labour shortage, which started in the second half of 2016 and lasted almost a year. When we finally got a batch of new workers in the middle of last year, they were not experienced enough to spot the anomalies in the chickens,” he said.

Additionally, Cheang said the group incurred higher cost due to the procurement of poorer-quality corn that was meant to produce feed for chickens.

To remedy the situation, Cheang said MFM set up a training centre to ensure that new workers are well versed in the management of a poultry farm, and put in place quality-control mechanisms in the procurement of raw materials like corn to ensure that broilers’ feed is of high quality.

In addition, MFM has bought a new batch of breeders, which will be delivered by end-3QFY18.

By 1QFY19, he said, MFM will have completed the upgrading of its Perak poultry processing plant, which will increase the group’s broiler processing capacity to 120,000 chickens per day, from the current 90,000 chickens per day.

Although the upgraded plant is capable of slaughtering up to 240,000 chickens per day — or 87.6 million a year, which is more than sufficient to process all broilers MFM produce currently — Cheang said MFM will ramp up the production progressively to ensure that there are no safety issues.

“The group currently produces 66 million broiler chickens per year. But not all 66 million broiler chickens go to our processing plant — a big part of them go to the live bird market,” he said.

Cheang also said with the second phase of upgrading of its poultry processing plant completing in early 2020, MFM will be capable of producing ready-to-cook products, which is expected to fetch a bigger profit margin for the group.

“Our average gross profit margin for poultry is about 16% to 17%, compared with our flour business’ single-digit margin. Our flour segment is a rather steady business, [so] we do not expect to see any big growth,” he said.

In Malaysia, Cheang said, MFM is producing slightly over 1,000 tonnes of flour per day, while the maximum capacity is about 2,000 tonnes per day.

Contrary to the situation in Malaysia, Cheang said, MFM’s flour business overseas is growing well.

In Indonesia, he said, the group’s milling plant, which is capable of producing 2,500 tonnes of flour per day, is reaching its maximum capacity. In Vietnam, MFM’s milling plants in Hanoi and Ho Chi Minh City — with a combined capacity of 2,700 tonnes per day — have reached a 80% utilisation rate, said Cheang.

“In Vietnam, we are the market leader. In Indonesia, the market has been deregulated; it used to be just the Salim Group, but now they have 22 players. If we see another business environment like Vietnam, we do not mind expanding our flour operation. But if it is like Malaysia’s, then no,” he said.

Last Friday, MFM’s share price closed one sen or 0.8% lower at RM1.23, giving it a market capitalisation of RM682.35 million. Year to date, the counter has retreated 36% from RM1.91 on Dec 29 last year.

value 88 i agree with you view Q1 is seasonally its weakest quarter, and earnings keeps improving when approaching year end. But due to 2nd quarter fall under GE14, it already cause the 2nd quarter economy growth down to 5.2 %, mining sector contribute -2.2% (oil & gas & other mining).
so to be caution on the coming quarter report.
For me more optimistic of next year performance.As i can forsee goverment will speed up /increase the income from the 2 oil (Crude oil & palm oil) to reduce their deficit.

never mind, they are cash rich,let them spend their money ,for us we just wait durian runtuh & collect.

Question : what is net fair value loss on biological assets of RM1.6mil in Q2 2018 as compared to a net fair value gain on biological assets of RM7mil in Q2 2017.

What asset is it?why the value drop so much? how the accountant evaluate this asset?

Malayan Flour Mills Bhd saw its Q2 net profit fall sharply to RM4.77mil from RM16.15mil in the corresponding quarter last year on the back of 4.9% lower revenue of RM547.7mil.

In a filing with the stock exchange, the group said the drop in earnings was due to lower profits from flour and grains trading and poutry integration segments as well as a loss of equity from its Indonesian joint venture.

The JV incurred a loss of RM3.6mil in the quarter under review as compared to a share of profit of RM1.9mil in the 2017 quarter.

The flour and grains trading segment saw a slight increase in operating profit from RM11.1mil to RM11.7mil on revenue of RM381.3mil versus RM374.9mil in Q2 2017.

However, the poultry integration segment saw a significant decrease in operating profit of RM2.5mil from RM11.1mil in Q2 2017 as revenue slid to RM166.5mil versus RM201mil in the previous corresponding quarter.

The group said this was mainly due to lower volume and margins arising from sales of live birds and net fair value loss on biological assets of RM1.6mil in Q2 2018 as compared to a net fair value gain on biological assets of RM7mil in Q2 2017.

"Excluding the impact from the fluctuation of fair value of biological assets, the operating profit remained consistent," it said.

The board of directors has declared an interim dividend of two sen per share.

Flour & Grain Poultry Intergration
Results from operating activities 17,512 ,000 4,032,000 (30.6.2018) 6month result

33,461,000 24,508,000 (30.6.2017) 6 month result

opreating profit drop 49% 83% impossible (malaysia boleh)

Loan & borrowing increase 39mil,but revenue keep on droping during hari raya festival,something wrong,i dont see this counter can recover within 1 years time.

revenue drop,net profit more worse drop 70%, TP now should be RM1.00 (by end of the year before right issue).

buy faster,dont miss the boat

buy faster,tomorrow no more stock available.

you want buy cheap? sorry lah no pasar malam lelong here!

I agree with u on reduce imput cost,but this counter also affected by packaging segment where contribute 30% of total revenue,i think this is the main factor why retailer still reluctant to aggresive invest in this counter (base on past 2 month volume)

reduce in sugar price does not means will increase the revenue ,this is because the brand not even domestic regconise.unless you tell me that the internatinal demand suddenly shot up,than i wil follow to buy in.

From the cash flow statement we realise that capital expenditure keep on increase fr Acquisition of property, plant and equipment and intangible assets Mar2018(64,851,000) Mar 2017(18,746,000)
Increase in investment in a joint venture (8,119,000),total up 73mil & cause cash in hand drop RM355mil (Mar2017) to 238mil (Mar2018),when can all of us get the return from the above huge capital expenditure? 1year,2 year or 5 year?
If new plant still not bring contribution by next year ,how to convience investor coming quarter revenue & profit will increase. I can't even continue my analysis.

As a conclusion, due to revenue & profit can not improve & cap expenditure keep on increase, i rather put the TP RM1.05(before right issue) by end of 2018 even though the company NTA RM1.46.

jangan kena trap 0.75 will drop back

dont bull shit.this romours start april and attract so many new bird buy in.See what happen until now after 2qtr result price drop fr 0.93 to 0.7. As what i know,due to this com under MISC, new goverment still under restructure the board of director,the Kawasari wont be open so soon,at least 1 qtr of 2019.As a investor should i put money in this counter if investment bank forsee coming 2 qtr,this company still incurre loss.

try to test how strong company finance to support share buy back when price dropping.You know this is the most famous foreign fund to accumulated the good share.this happen in Perstima case.see when this counter recover, up RM1.5 witin 2 months time.

i like this counter due to they have a healthy balance sheet & no borrowing if compare with other fabricator.(sapura energy,Uzma,Petra etc)

niki,i dont understand why until august MHB still not receive any new contract fr Petronas? Is it due to they dont have enough experience like sapura to undertake the contract or other reason.

so bad result,tomorrow sure go back below 70 cent.

黄金10年-398-附加股投资法则

Author: KKG10Y

在我的股票投资里，有很大部分是起于附加股投资。虽然现今局势越来越难预料，附加股不能保证一定赚钱，不过我还是觉得，附加股建议是一个值得去关注的投资。



所有附加股的投资，都少不了两个情形：



第一，公司向来表现不错，建议附加股可能是基于未来的扩充计划或涉及新的收购，因此在向银行融资同时，也给股东一个机会参与。为了鼓励股东参与和奖励股东对公司的不离不弃，附加股的定价往往处于一个较吸引人的价钱，有时也免费送些凭单或红股来让附加股建议更吸引人。



第二，公司亏损连连，须要以一笔资金救急或者进行重组，以让公司能够继续营运下去，于是通过极为低价的附加股吸引股东投资。



在以前，第一种情况的附加股会受到投资者追捧，造成（附加股）股价或白表格的价钱不便宜。虽然如此，如果你是公司长远的股东，还是可以从中得益，因为附加股的造价往往低市价20-30%。很可惜的是，鱼与熊掌无法兼得，假如你不套现，基本上这只是纸上财富而已；假如你趁机套利，那么利润赚到的当儿，股权也被冲淡了。



至于第二种情况，以前我们觉得公司翻身计划在望，可以购买附加股（附加股的定价往往是公司股价的低点）；同时因为公司亏损，我们之前投资的股票应该是在高价买入，损失不少，大可趁机将平均价钱拉低。但是，目前的情况不同了，许多陷困的公司只是利用附加股来让公司喘口气，并没有借此翻身，让股东投入的金钱浪费。几年后，公司的业绩还是糟糕如故，公司只怕又要重组，又要利用多一次附加股筹资，让股东又要掏腰包。长久下来，富了管理肥猫，穷了小股东。



所以，当越来越多公司经营不善，投资这些公司建议的附加股，很可能继续蒙亏，或者亏更多时，小股东开始学会更精明的另打算盘，不对附加股表示欢迎。不但如此，一些股东选择在附加股建议出街以后，先卖掉股票，然后伺机以更低的价钱买回来（通常除权以后，股价会变得更低）。研究也发现当公司除权以后，一切报价将自动调整去比较合理的价格，而其白表格，通常是在比较公平或稍微低于公平价的价钱交易。这样一来，投资者先卖后买回，渐渐成为一个主流策略。


Good sharing,think about it when u subscribe the right issue.

Hi leslie,dont try to influence other to sell at this point,if haio trading at PE 15, i think other MLM will collep soon.This is because Haio is the only MLM company who cover 75% of malay market (majority of malaysia population)

码头提升工程亦需要两年，完成后可容纳高达8万4000吨载货量的船只。

base on the above statement, what is the reason to built /up grade jati,is it management forsee the domestic demand for flour will increase double? i dont think so because base on the past 3 year quarter report demand remain unchange or may be drop due to goverment already allow few manufacturer to supply flour not only FFM & MFlour.Or production of flour for export?
If not the above 2 reason,i dont see how the money spend on this jeti wil improve our coming 2 year quarter report.Look like company keep on burning money.