The main reason to why some investors is still interested in this company is due to Tan Sri Vincent Tan still high exposure in Berjaya Assets (directly and indirectly of which he still owns around 62% of the company). This especially when in December last year, he mentioned that he is looking to do some corporate exercises for assets under Berjaya Group. However please take note that he did not mentioned anything on Berjaya Assets Berhad (only on Berjaya Land, Berjaya Media, 7 Eleven and Berjaya Corp). So, it is still unclear whether Berjaya Asset turnaround is one of his top objectives in the near future.
In terms of financials, the company has been underperforming since FY16. 1Q19 result is a loss of RM300k. Expect the company to still record losses in FY19.
If you are looking to diversify your portfolio outside of Berjaya Assets (due to its earnings uncertainties) I would recommend you to look at MBMR.
MBMR is a direct proxy to Perodua via its 22.6% interest in the company. Valuation is cheap at only 6.9x PE (based on target FY18 profit of RM145mil. 9m profit is already RM106mil). PB is low at only 0.7x BV. 4Q18 results is expected to be higher than 3Q18 and last year's 4Q17.
FY19 growth will be driven by the still high demand of the new Myvi and the newly launched SUV Aruz and also the newly revamp Alza in 2H19. The recent announcement of closure and potential disposal of the loss-making alloy wheel manufacturing business alone is expected to boost the company’s profit by an additional RM20mil. I am projecting a profit to shareholder of RM170 mil for FY19 which at the current price values MBMR at only 5.9x PE.
Please go through the analyst reports (https://klse.i3investor.com/servlets/stk/pt/5983.jsp) and do your own analysis before making any decisions. There are 8 analysts in total covering the stock with most of them having a TP of above RM3 (all have a buy rating). The average TP for the 8 analysts is around RM3.50.
In the interview on company restructuring, there are mentioned of bjland, bjmedia going to be injected with some new business and some asset will be sold and some listed in singapore (hotel), but no mentioned of bjasset.
If u r smart, no mention means good bcuz good thing sendiri keep more.
Dun forget johor royalty got 13% stake. And more than 6% is bought at rm1 before share split.. means after split is 50 cents cost...
Vincent Tan is waiting China company to develop his gem seabed land infront of singapore. Just near to woodland entry.
If later got surprise announcement China CCC JV with BJASSET.. Boom!!! horseh liao share price will meletup.. April visit, now loading some and see see got strike jackpot anot
61 acre seabed fronting singapore. Berjaya Waterfront infront only. If strike deal, then unlock potential RM 1.8b value.. Now BJASSET market cap only 767m.. So use small knife cut big tree
In 2017 March, Redtone surge from 0.38 to 0.60 in 3 days time. Last time results all red red. This time with consistent good results and price at 0.24. Buying Redtone is easiest choice.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Erudite
254 posts
Posted by Erudite > 2019-01-08 11:44 | Report Abuse
https://www.freemalaysiatoday.com/category/nation/2019/01/07/dr-m-to-meet-johor-sultan-on-thursday/