agree my tp is not so low...lets wait for the new report and dividend annoucement. I am very positive and the coming report just see how good is it compare to last quarter and last year same quarter
muscle why are u here attacking people again. You like to attack all the sifu but you dont have any contribution. If you think no good, maybe you can recommend some counters urself?
Another largest flour company in Malaysia, PPB trading at PE18. So if result can maintain 6sens (excluding forex loss effect) for next 4 quarter, you can imagine how high is mflour will gonna be.
Also, please see the annual report page 114, note 21. Vietnam's non-current assets, which is property, plant and equipment have increased by 66.82% compare to last year. Means the company have heavily invested to expand their business in Vietnam
As we all know now the Vietnam economy is skyrocketing right now. I hope the increase in investment in VIetnam also will bring additional profit to mflour as mflour currently is the most largest flour company in Vietnam.
Including the turnaround from the JV with Toyota Group in Indonesia, which is also largest flour mill in Indonesia, plus the removal of subsidiaries since 1 March 2016, i foresee profit will have significant improve in the coming year.
MFlour should be a beneficiary of strong RM. In Q1'16, RM was actually strengthen, but the forex loss magnified to ~RM17mil compared to forex losses of RM1mil to RM3.4mil in last 3 quarters when RM weaken. I wonder how this could happen, anyone knows why ?
The profitability of MFlour is very much dependant on : I) Forex gain/loss ii) Future/option gain/loss iii) Indonesian operation
The I) and ii) above I can't really see their correlation with the strengthening or weakening of RM...so they are difficult to predict what will they like in coming quarters. For iii), we can see turnaround in Q1 but that is only one quarter so whether MFlour can do well in coming quarters will need to see if the turnaround of Indonesian operation is sustainable. Anyone has more info on my above uncertainty, kindly share. Tq.
maybe they bought alot of future during january and suffer huge loss on derivates on flour. During early of the year, usd trading around usd1= rm4.20. then suddenly at 31 mar 2016 the currency rate drop until usd1=rm3.90. i guess is this ba. just my opinion
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....
kkgan
142 posts
Posted by kkgan > 2016-07-02 17:00 | Report Abuse
only last qr loss