Posted by petnch2020 > 2021-02-15 20:37 | Report Abuse

Benteo,

The RM 4bil is actually the amount to be raised from the Port business IPO and not the market cap. If MMC were to raised the RM4 bil by "selling" 40% of its port business (assuming MMC still wants to control a majority stakes) then the market cap of the port business would be RM 10bil.

That alone is already 4x the current market cap. Still not included Malakoff, Gas Malaysia and the Engineering business. Mmc is really undervalue at the moment.

Posted by benteo78 > 2021-02-15 20:44 | Report Abuse

U sure? then how come not reflected in nta?

Posted by benteo78 > 2021-02-15 20:44 | Report Abuse

thought the whole valuation 4bil is the port business?

Posted by petnch2020 > 2021-02-16 09:14 | Report Abuse

Beateo

The NTA does not represent the potential market value of the port business. It represent mainly the cost of acquisition of the business + retained earnings during the ownership (after deducting dividend etc).

For example if you acquire a business early of 2020 at 10x PE and the business generate a consistent profit of RM 10 mil in the previous years, you will be paying RM 100mil for the acquisition. Assuming profit is the same in 2020, at the end of the year, the NTA for the business in your balance sheet would be RM100mil (ur cost) + RM10mil (profit for 2020) = RM110mil. But let say suddenly the business environment change and the similar company can generate profit of RM20mil in 2021 and beyond. At the end of FY2021 the NTA for the company in the balance sheet would be RM110mil + RM20 mil (profit in 2021) = RM130mil. This does not reflect the true potential value that the company can achieve if you were to sell it to the market.
Assuming the market still value the same business at 10x PE, you could actually get RM200mil if you were to sell it to the market which is RM70mil more than the NTA in your balance sheet.

Anyway, you can actually see a real life example with MMC disposal of the Jeddah terminal. Based on the 2019 AR, the 20% interest in Red Sea Terminal Net Asset value in MMC book is only RM 185mil. But MMC is selling 8% of the interest for RM228mil. This would mean that the 20% interest is actually valued at RM570mil based on the market or 3x more than what is recorded in the Balance Sheet.

Hope that's clear.

Posted by benteo78 > 2021-02-16 10:48 | Report Abuse

noted... yesterday and today collect again....

Posted by steve8lily > 2021-02-16 17:05 | Report Abuse

collect and wait it bomb up

Posted by wehcant > 2021-02-16 17:13 | Report Abuse

Lembap. lembik.

Posted by benteo78 > 2021-02-16 22:49 | Report Abuse

so many seller

Posted by cn21 > 2021-02-17 09:30 | Report Abuse

one of the best underrated counter in bursa..........

Posted by cn21 > 2021-02-17 09:35 | Report Abuse

infra & utilities (monopolistic business) company selling at PE below 10 and 26% of NAP......

Posted by wehcant > 2021-02-17 12:18 | Report Abuse

Kaunter lembap.

Posted by ykyew11 > 2021-02-17 16:53 | Report Abuse

Went down 1.5 sen with good news from the past few days. I don't understand.

Posted by Pinky > 2021-02-17 17:03 | Report Abuse

By now you guys should realise that this counter is not for quick capital gains.

Just wait for next results announcement and dividend announcement.

Posted by Willtolive > 2021-02-17 17:04 | Report Abuse

Collect for long term defensive play when glove and tech deflate

Posted by wehcant > 2021-02-17 17:27 | Report Abuse

Give this laggard another one or two weeks. Coming soon....

Posted by Willtolive > 2021-02-17 17:29 | Report Abuse

Next Q result is next week. Hope good news

Posted by sd99 > 2021-02-17 18:51 | Report Abuse

If next week qr and if good... price will be moving now.. insiders will buys lei!

Skeptical about it!

Posted by mita29 > 2021-02-17 19:49 | Report Abuse

Kossan QR yesterday also good, kena hammered all the way to QR then baru up abit ... poor kossan hahah abandoned by sharks. .

Posted by wehcant > 2021-02-18 11:02 | Report Abuse

Another lembap day. It's OK. Have patience. Coming.

Posted by Pinky > 2021-02-18 11:07 | Report Abuse

Remember, MMC is your ports and utilities "quasi-REIT"!

5% dividend yield!

Posted by Willtolive > 2021-02-18 11:57 | Report Abuse

buy 0.805

Posted by Mohd Yazid Mohd Ali > 2021-02-18 13:04 | Report Abuse

Kasi hantam some more ,next week break 1 renggek ?,ini bukan speculatif counter ?,dulu time dot com .20 sen 2 tahun lebih ,sekalang 14 renggek ,airport .70 sen 3 tahun sekalang 6 renggek ,westports 2.20 ,3 tahun sekalang 4.60 ,main share bukan macam makan maggei ,taruk air panas terus makan ?,ini bukan penny stock ?,kalau mau main contra beli sapura ,icon ,pdz ,dnex ......

Posted by Healthy > 2021-02-18 13:05 | Report Abuse

pinky,what mean quasi-reit??
the amount dividend receive from associate malakoff + gas malaysia around 0.0588 sen is more than dividend declare to mmc shareholder 0.045........deeply undervalue stock .enterprise value 10
billion+ but market price only 2billion +.........why????something market see through that we dont???

Posted by Pinky > 2021-02-18 13:26 | Report Abuse

https://www.collinsdictionary.com/dictionary/english/quasi

Posted by steve8lily > 2021-02-18 23:06 | Report Abuse

Mahathir wanna back BN liao, tomorrow limit up

Posted by Healthy > 2021-02-18 23:25 | Report Abuse

thx pinky

Posted by benteo78 > 2021-02-18 23:30 | Report Abuse

coming

Posted by benteo78 > 2021-02-18 23:31 | Report Abuse

hold and wait for booming like dnex

Posted by Healthy > 2021-02-19 00:09 | Report Abuse

hope will not wait untill neck long....

Posted by Mohd Yazid Mohd Ali > 2021-02-19 10:07 | Report Abuse

Dnex sudah LIOUUUUUU ,PENNY STOCK ?

Posted by KopiDuit > 2021-02-19 10:42 | Report Abuse

Connected company ,no good loh ,not like before. Lately , even utilities tender, ALL SAPU by PRIVATE companies. No mote priority to GLC .. Easy to GET ~YOU KNOW WHAT , ?? MAlakoff dropped like SHIT. Cut LOSS, rugi a bit. DEAD wood.

Posted by Willtolive > 2021-02-19 10:49 | Report Abuse

High volume buying

Posted by Pinky > 2021-02-19 10:54 | Report Abuse

See the huge queue at 80 sen yesterday, huge support at 80 sen

Posted by KopiDuit > 2021-02-19 11:24 | Report Abuse

Malakoff under MMC. Gets nothing, Solar, waste conversion etc. NOTHING. All SAPU by PRIVATE. Maybe tht s why MMC ,also dragged down. PORT LISTING also NO NEWS. Nothing to stir this counter.

Posted by aliyusof > 2021-02-19 13:01 | Report Abuse

A majestic station and an effective one, too

https://www.freemalaysiatoday.com/category/nation/2021/02/19/a-majestic-station-and-an-effective-one-too/

Posted by aliyusof > 2021-02-19 13:03 | Report Abuse

RTS project of MMC Engineering

Posted by KopiDuit > 2021-02-19 13:57 | Report Abuse

Desperately trying to hang onto 80 sen. Cant have good rating ,when only MMC getting some projects where subsidaries getting ZERO .

Posted by Willtolive > 2021-02-19 15:48 | Report Abuse

Up to 82.5 sen

Posted by wehcant > 2021-02-19 16:15 | Report Abuse

MMCCORP sounds like the company that makes ROBOCOP.

Posted by KopiDuit > 2021-02-19 16:18 | Report Abuse

Wah ,MMC goin to CLOSE GREEN woh.

Posted by wehcant > 2021-02-19 16:36 | Report Abuse

0.82 resistance tested 3 times already. Come on ROBOCOP!

Posted by Willtolive > 2021-02-19 17:01 | Report Abuse

Waiting for good QR report next week

Posted by Pinky > 2021-02-19 17:11 | Report Abuse

Yes!

Posted by mita29 > 2021-02-19 21:52 | Report Abuse

Yikes, Malakoff not doing so good, hope the port business performs well.

Posted by Willtolive > 2021-02-19 22:31 | Report Abuse

Malakoff shares were downtrend since 20th Jan.

Posted by wehcant > 2021-02-19 23:01 | Report Abuse

I am expecting a fairly good QR, EPS above 2. Keeping my fingers crossed.

Posted by XxxxXzz > 2021-02-19 23:25 | Report Abuse

Malaka latest qr doesn't affect much at mmc qr here bah.
Only 30% share of profit. Malaka profit qoq from 50m to 41m. So this qr mmc just got lesser 30% of this 9m = 3m share profit from associate.

Just hope mmc management control the administration expense and finance cost. Once they can control this 2 part then can earn annual 500m profit annually same as prior 2016.

As u can compared those 2 expensive increased alot but doesn't carry any extra revenue or profit to the company.

2016 3qr administration expense 4xxm finance cost 3xxm
Profit 500m

2020 3qr administration expense 6xxm finance cost 5xxm
Profit 2xxm

Posted by Musfaz83 > 2021-02-20 00:13 | Report Abuse

chart so good

Posted by aliyusof > 2021-02-20 09:09 | Report Abuse

RTS line takes a fast track to growth

https://www.freemalaysiatoday.com/category/nation/2021/02/20/rts-line-takes-a-fast-track-to-growth/

Posted by Willtolive > 2021-02-20 10:34 | Report Abuse

I believe the price is blocked from going up due to call warrants expiring next month

MMCCORPC21 CALL WARRANTS 15/09/2020 19/03/2021 0.88 0.025 1.2:1 0.09 (10.97%) 27.333

https://klse.i3investor.com/servlets/stk/219421.jsp