Dec 2016 old news... talking of compensation for possible early termination of Siam Reap Airport Concession..

https://urbanvoicecambodia.net/china-poaches-airport-contract/?lang=en

Earnings will determine the price of the shares ultimately.

Are analysts streaming to meet ALP these few days? Price may spike up if the projected earnings are as good as estimated by so many sifus here..

Muhibbah's investment in Associates alone which is mainly the 21% holdings in Cambodia Airports, as carried in the book is RM688 million as of 31st Dec 2019, compared to the present market Cap of RM543 million @rm1.12

From KHMER TIMES news last month

QUOTE
"Cambodia Airports and the Overseas Investment Corp (OCIC) have shown progress in discussions on the development of a new Phnom Penh International Airport which is expected to be finished next year.

Their cooperation has been signalled through a draft memorandum of understanding (MoU). Stating Cambodia Airports will join with the OCIC to develop a new airport in Kandal province, said Sin Chansereyvutha, a spokesman for the State Secretariat of Civil Aviation (SSCA), where the meeting was held on Tuesday.

Discussions focused on cooperation between Cambodia Airports and the OCIC on the development of the new airport, he said.

"The two sides agreed to establish the MoU, which will be used as the foundation in further discussions on how the SSCA would help with for the development of the new airport," Sin said.

Khek Norinda, communication and public relations director of Cambodia Airports, said they are at the very early stage discussions and they are currently deemed confidential.

Cambodia Airports has constantly expressed to Cambodian authorities a commitment to fulfilling its missions according to a concession agreement signed in 1995. This includes extending those missions to new international airports projects contemplated by the Royal Government (RGC), he stated.

"At yesterday's meeting, we reiterated our stance. Therefore, Cambodia Airports remains available and committed to a constructive dialogue on the new PP [Phnom Penh] Airport project under the guidance of the RGC and the SSCA," Khek said.

The project was announced in early 2018 and is projected to cost $1.5 billion under the investment company name Cambodia Airport Investment.

OCIC chairman Pong Khiev Se said last December that the construction of new the airport will be a 4F-class airport.

The airport progress is developing well. Sin said, adding the runway is being built, a study for the terminal is being conducted and compensation for affected landowners is being processed."
UNQUOTE

Cambodia Airports is the 21% associate of Muhibbah.

Cambodia Airport has the exclusive rights to the OPERATION of Airports in Phnom Penh. Looks like an amicable solution is on the way.

https://www.cnn.com/2020/03/09/politics/donald-trump-economic-response-markets-coronavirus/index.html

Analysts briefings are on the way this week?
If so, the price should go up very soon based on the facts and figures presented here.

Why you guys still talked of going below 80 cents?

Mr OTB

When is your scheduled Analyst meeting?

Dear OTB
when is your scheduled Analyst meeting?

Opportunity presents itself

Buying under nominees lah...
Hahaha

Opportunity to buy while Covid-19 is still spreading and virusing the market. :)

Dear OTB,

Thank you for your precious info.
Thumbs up and cheers!

OTB Mr Andy Ang will be a billionaire in 2021.
It will happen if all investment banks in Malaysia promote Hai Duong power plant in Vietnam.
The management of Jaks must hold this analyst/investment banker briefing fast to update the status of progress on Hai Duong power plant in Vietnam and COD of this power plant.
The ball now is in Mr Andy Ang's court, he has to score this goal to win this game.

My 2 cents opinion.
Thank you.
06/03/2020 9:29 PM

Dear OTB,

Your meeting with Mr Ang next week is a private meeting between yourself and him or an analysts/fund mangers briefing/meeting?

Thank you.

EatCoconutCanWin AGM-CEO said going to profit in 2020, this is his promise . trust or not ,i also not sure.
21/02/2020 4:59 PM

CEO really said that? No kidding?

OTB,

Thanks

DK,

Thanks

DK /OTB,

Your estimates of the net profit already net off everything including finance charges, Admin. operation, etc?

DK

The net profit already net off Finance Charges, Admin and Operation, etc?

When is the meeting with Andy Lam next week? which day? Is this confirmed? :)

Noted buyers, likely with a main buyer emerged today, patiently collecting @1.38..

Exactly

It's cheap. They have been buying @3, @2, why not @1.5-1.9?

I think no worries on termination of Airport concessions as compensation has to be paid, by the government via the new concessionaire of the new airport according to market values/investment, upon termination and upon the new airport come into operation.

Anyway, Cambodia Airport (Vinci Airport and Muhibah JV Co) has the exclusive rights to the OPERATIONS of Airports in Phnom Penh.

I believe the interests of Muhibbah is well protected and any arbitration has to be held in a Switzerland Court.

FIL Limited And Pandanus Partners L.P,
The 2nd largest shareholder now holding 9.946% bought 2,345,000 shares in Feb 2020, from 3rd Feb to 20th Feb, (price range :1.57 - 1.98) after the breakout of covid-19 and news of new airports in Phnom Penh and Siem Reap.

Don't they worry about the concession and the Covid - 19?

VINCI AIRPORTS (Muhibbah's partner in the 3 Cambodia Airports with concession up to Oct 2040 and VINCI holds 70%)

World’s second-largest airport operator, serving 255 million passengers in 2019 (+5.7% on
a comparable network base)
● A diversified network in 12 countries: 325 new routes opened in 2019
● A committed sustainable mobility player
With 255 million passengers served in 46 airports in 2019 (+5.7% from 2018....)

The joint venture company holds exclusive rights to THE OPERATION OF THE AIRPORTS IN PHNOM PENH...

I think the worries on their Cambodia Airport Concession are overblown..

as of 31st Dec 2019 Assets (000')
Property, plant and equipment 896,537
Investment in associates 688,156
Other non-current assets 138,736
Total non-current assets 1,723,429
Receivables, deposits and prepayments 686,518
Contract assets 628,301
Inventories 267,899
Current tax assets and other assets 10,614
Cash and cash equivalents 606,719
Total current assets 2,200,051
Total assets 3,923,480


Investment in associates alone worth rm688, 156,000 which is more than the Market Cap of rm679M @rm1.40

59.3 % in Favco is free... The construction business is free...

Zero Debt
Holding rm200 million cash
Cash per share, 80 cents..

OMG

The company likes to hoard CASH as one of their INVENTORIES. :)

and they pay good dividends

There is seasonality in this business. Only compare YoY and not QoQ

Annual EPS
FY 18.... 14.8 cent
FY 19.....16.9 cent
Growth in EPS, 14.2%

Dividend
FY 18, 10 cent
FY 19, 11 cent
Growth in Dividend, 10%

:)

@1.76
11 cent dividend yields 6.25 %

Where to find?
EPF also can't afford to pay the contributors 6%..

Full year would be 18.2 cent then.. as projected by an investment guru, 18 cent..

Projected Dividend 12 cent? :)

Dec18 4 148,983 8,179 6,270 2.50 Malaysia Stock - KLSE Quarter Report History


4Q19 double means 5 cents per share

Richard Wong Fpi Q4 result double, will break RM2 very soon
20/02/2020 10:37 AM

How Sure?

Present value of Dividend Income model is RM2. 78

Data and assumptions
Price $1.66
Initial dividend, D0 sen 0.100
Next year dividend, sen 0.110
Dividend growth next 10 years, G 10%
Terminal growth. G 3%
Discount rate, r 9.3%
Valuation
Year, t 0 1 2 3 4 5 6 7 8 9 10 11
Future dividend, Df=D0*(1+G)^t 0.100 0.110 0.121 0.133 0.146 0.161 0.177 0.195 0.214 0.236 0.259 0.267
Discount factor, DF=1/(1+r)^t 0.915 0.837 0.766 0.701 0.641 0.587 0.537 0.491 0.449 0.411
PV of annual dividend at Supernormal growth=Df*DF 0.101 0.101 0.102 0.103 0.103 0.104 0.105 0.105 0.106 0.107
Sum of PV of annual dividend at supernormal growth, PVSG 1.036
TV of dividend at year TV10= D10*(1+g)/(r-g) 4.241 4.24
PV of TV10, TVPV=TV10/(1+r)^10 1.743 Price, P
Intrinsic value, IV=PVSG+TVPV 2.78 > $1.66 by 67.4%
MOS=(IV-P)/IV 40%

Adj Prosp EPS (Sen) Adj DPS (Sen)
18.00
Adj Prosp PER Prosp DY (%) 8.89
FYE DEC 18 MSEB Sector Consumer Products & Services
DQ Rating 5.0
Price Info
Latest PX as at 11.02.2020(RM) 1.60
Latest 12 Months PX Range (RM) 1.48 - 1.86
Adj 5 Years PX Range (RM) 0.70 - 2.07
MKT CAP (RM'000) 395,773
Earnings Info
Adj EPS (Sen) - 5 Yr Avg 9.20
Adj EPS (Sen) - Prev FY 16.64
Adj EPS (Sen) - Latest FY 14.81
Adj EPS (Sen) - Prosp FY 18.00
Dividend Info
Adj DPS (Sen) - 5 Yr Avg 8.60
Adj DPS (Sen) - 2019 12.00
Adj DPS (Sen) - 2020
Market Valuation
Adj MR PER - 5 Yr Avg 10.71
Adj PER - 5 Yr Range 4.99 - 18.98
Adj PER - Latest 10.80
Adj PER - Prosp 8.89
Adj DY (%) - 5 Yr Avg 6.66
Adj DY (%) - 5 Yr Range 4.49 - 9.64
Latest DY (%) on 19 DPS 7.50

INTERIM 9M2019 RESULTS

The continued weakness in the Ringgit has proved to be quite beneficial to FPI, with 9M19 revenue increasing by 43.6% y-o-y to RM590.9 m. As a result, PBT and EPS increased to RM42.1 m and 13.24 sen respectively. This represents a y-o-y increase of 14.0% and 7.8%, respectively.

The Group's financial position remains strong with net cash of RM152.4 m or RM0.62 per share.

We are upgrading our FY19 EPS forecast again to 18.0 sen.

*LAST UPDATED:
[18.11.2019] 9M19 updated

Every quarterly review after QR

A lot of data..very good for reference.
Very good. No recommendations for buy or sell.

Dividend 12 cents per share yields a return of 6% @2.00

Bank Negara Governor today said that there is ample room for interest rate to come down as the GDP for 2019 only registered a growth of 4.3%, lowest in the last 10 years.

PNB highly likely sold out their 12.4925 million shares as of 18th Nov 2019. They likely sold out their balance holdings by Dec 30th, 2019 to book in profits for the FY2019, to declare dividend from their profits to the unit holders.

Total volume transacted in the market from 19th Nov 2019 to 30th Dec 2019 was 30.806 millions which was enough to absorb PNB's holdings of 12.49 million.

Total volume transacted this year since 2nd Jan is 19.672 millions.

Total volume transacted in the market since 19th Nov already exceeded 50 millions.

PNB must have sold out.

It is a matter of time the share price will be rerated upward.

12 cent dividend is possible as projected by Dynaquest Sbn Bhd research team. I am their subscriber.

They also projected 18 cent EPS for FY 2019.

Dynaquest is owned by Malaysian Investment Guru, Dr Neoh Soon Kean.

Like that also can... kam du dak.. Hahaha

High Dividend stock.

12 cent dividend is possible.
Dividend Yield @1.60 would be 7.5% against Bank FD @3.25 %

Inventec, Wistron land new orders for smart speakers
Aaron Lee, Taipei; Joseph Tsai, DIGITIMES Friday 10 January 2020 0 Toggle Dropdown
Inventec has obtained orders for smart speakers from Google, with shipments set to kick off later in 2020, while Wistron has landed its first orders for smart speakers, according to industry sources.

12 cent dividend is possible as projected by Dynaquest Sbn Bhd research team,they also projected 18 EPS for FY 2019.

Dynaquest is owned by Malaysian Investment Guru, Dr Neoh Soon Kean.

Just hold on with this stock. Don't panic if the price drop more.. Just remember the dividend that would be paid out every year..

The revenues are growing since Wistron took over from FY 2015.

The market could be irrational and at times of panic and catapulation, the price can drop to unreasonable level, especially when there are waves after waves of margin force sellings..

Best is don't use margin financing...

FD rate now 3.5%, new funds only..

This Co prospective Dividend Yield >7%..

Due to the Coronavirus, expect more orders will be diverted to FPI by both Roland and Wistron as both have manufacturing plants in China.

It is not that only gloves companies will see surge in demand, I reckon.

Projected FY20 EPS 11.2 cents, Dividend 5 cent
---- Dynaquest Sdn Bhd (Dr Neoh Soon Kean Research Co)