Posted by Aero1 > 2013-11-28 17:03 | Report Abuse

Total assets increased to RM1.8 billion from RM1.4 billion, but interest expense dropped 21% to RM17 million from RM21 million. That shows operating cash flow capability of the company.

Posted by cytew > 2013-11-28 20:51 | Report Abuse

actually the net profit is about RM 150 millions, and the management quickly clamp it down to about Rm 100 millions ,so allow us sufficient time to accumulate more , haha !!! i like the board of directors so much, thank you again for good job done.(Rm 67 millions loss of foreign exchange, about Rm 50 million is unrealized)

Posted by bsngpg > 2013-11-29 23:31 | Report Abuse

CPO could hit 3000/tonne by Mar 2014_Indonesia
http://www.theedgemalaysia.com/business-news/265531-palm-oil-prices-could-hit-1-12-year-high-by-march-mistry.html

Posted by anbz > 2013-12-01 01:07 | Report Abuse

more palm oil cultivation for mkh
http://www.theedgemalaysia.com/business-news/265266-interview-mkh-seeks-20000ha-more-in-indonesia.html

Posted by tsurukame > 2013-12-01 15:39 | Report Abuse

anbz,
Current hectarage in oil palm is about say 16,000 hectares but management plans to target 100,000 hectares in the near future...

That means high capex investment in the next few years to acquire additional 84,000 hectares of plantation land and this will be funded by operational cash flows and possible new debt....may not pay consistent dividends in the future as well...but if you r a long term investor with time horizon of say 10 years, you will realize your investment gains handsomely and that is assuming MKH acquires the balance 84,000 hectares within the next 3 to 5 years...

R U a patient investor or a short term trader? With MKH, one need to have the mind-set of a long term investor..

R U willing to be a long term investor with MKH?

Posted by DLuckyGuy > 2013-12-01 15:43 | Report Abuse

tsurukame, what is ur opinion on oldtown, hapseng and lii hen

Posted by tsurukame > 2013-12-01 15:47 | Report Abuse

No opinion at the moment...not on radar screen ..

Posted by anbz > 2013-12-01 16:12 | Report Abuse

i repeat my answer from jtiasa thread:

don't worry...EPF will enter mkh in no time...and no need for 10 years...just 2.5 years needed..why? ...they like to buy already matured plantation... kalimantan per acre yield = 30 tonnes while other places are between 20 to 24 tonnes...and kajang and semenyih are owned by MKH...not forgetting mrt...very low land cost for property..the price might appreciate to RM 4 in near term

Posted by tsurukame > 2013-12-01 22:10 | Report Abuse

terima kasih anbz..atas maklumat itu..

Posted by anbz > 2013-12-02 00:52 | Report Abuse

Buyers turn to Kajang (MKH) as KL home prices rise
http://www.mymrt.com.my/cms/upload_files/article/article_download_000729.pdf



http://www.mymrt.com.my/cms/upload_files/mediarelease/mediarelease_download_000338.pdf



http://www.mymrt.com.my/cms/upload_files/mediarelease/mediarelease_download_000333.pdf



PREPARING FOR THE CONSTRUCTION OF THE MRT BANDAR KAJANG STATION...MKH
http://www.mymrt.com.my/cms/upload_files/mediarelease/mediarelease_download_000337.pdf

Posted by tsurukame > 2013-12-02 01:19 | Report Abuse

anbz,
Terima kasih atas informasi yang di kemukakan it.
Selamat malam

Posted by JXRepcoBuffet > 2013-12-02 13:41 | Report Abuse

美景控股（MKH，6114，主板產業組）位於印尼加里曼丹的油棕園產量唱豐收，該公司擬提高種植業務對營收貢獻，並放眼5年內將種植範圍擴張至10萬公頃。
該公司執行主席丹斯里曾貴秋在接受媒體訪問時表示，該公司將續在加里曼丹東部物色高素質種植地，計劃在5年內將種植範圍從目前的1萬6千公頃擴張至10萬公頃。
“我們的種植成果及良好的企業社會責任受印尼政府的認可，而受邀在該區擴張業務，眼下已有2項種植地收購計劃正在協商。”
該公司截至2013財政年首9月止種植業務的營運盈利從去年同期的蒙損1千200萬令吉，轉虧為盈至獲利2千零30萬令吉。
他表示，良好表現主要歸功於鮮果串產量較年度預算的17萬2千500公噸，高出30%至22萬4千公噸，尤其是今年9月的產量更是自2011年10月以來的最高月度產量，達2萬6千公噸。
他稱，該種植地的地理位置優越，包括地勢平坦易種植、正中赤道雨量充足、附近人口密集達100餘萬人，不缺勞工供應，非常適合進行棕油種植。
“該區雨量充足有利於種植，預計產量在兩年後可臻高峰；若不計入未來潛在推出的發展計劃，該園地料在2017年對集團淨利的貢獻可從目前約20%增至50%。”
無懼棕油價承壓
棕油價格如今仍受壓抑，種植股項表現也普遍落後大市，美景控股此次擴充種植業務有增添風險之虞，然而他表示，商品價格有起伏是自然現象，但長期前景仍完好，只要鮮果串產量穩定，種植業務仍有利可圖。
他指出，種植業務是未來新方向與成長動力，美景控股仍是具活力與積極成長的公司，公司也將同時推動產業業務發展，若有良好產業發展計劃浮現，會積極爭取。
“我們會以“先到先得”的方式發展公司的兩大主要業務，即哪一業務有良好機會浮現，就會先發展該計劃。”
打房政策影響微
另一方面，提及政府在2014財政預算案中取消發展商承擔利息計劃（DIBS）以及提高產業盈利稅時，他表示，鑑於公司向來側重發展可負擔房屋，因此兩項政策對公司影響甚微。
儘管如此，他坦言，銀行應該在DIBS被取消後給予發展商更多扶持，因多年來發展商都非常支持銀行發展，此時更應守望相助。
斥1.3億開發加里曼丹油棕園
美景控股在2008年耗資1億3千萬令吉，透過印尼旗下PT KHALEDA AGROPRIMAMALINDO種植公司在加里曼丹東部開發1萬6千公頃油棕種植地。
同時，該公司投資4千200萬令吉在種植地附近建設原棕油廠房，每小時產能為60公噸，庫存容量為6千公噸；隨後再追加1千500萬令吉資本開銷升級廠房，將產能提昇至每小時90公噸。
該種植地附近也擁有碼頭，非常方便買家快速將廠房提煉好的棕油沿河運出。
該公司向來的主要業務為產業發展，如今投入大量資金開發棕油業務，惟曾貴秋表示，這不是他首次接觸油棕種植業務，早在創業初期就有種植油棕經驗，且多年來仍不斷留意棕油領域進展。
“我在32歲時曾參觀油棕園，被該園的壯觀景象激發投身種植領域壯志，並在創業初期時，以70萬令吉收購一油棕園。”
然而，該種植計劃也並非一蹴而就，他表示，所收購的油棕園地勢平坦且樹齡輕，但後來發現土壤過於疏松，不利於種植。
“於是我立即連絡一位種植專家朋友請求協助改善園地，他建議按照他所提供的進度表進行種植；令人意外的是，所有油棕樹果然在3個月後轉茂盛且產量豐富，我也從中學習到許多種植經驗。”
他披露，最終投資在3年後回本，並以每英畝7千500令吉左右的價格脫售該園地。
儘管他將油棕園售出，但對種植業務依然念念不忘，並不斷四處尋找合適的種植地，但因半島內種植地價格過高而沒成事，所幸最終仍在印尼加里曼丹東部尋得一地，實現其種植願景。
他指出，公司並不側重於擴張種植範圍，而是精心尋找產能高的優質種植地，打造精細型種植公司。
“我們如今仍是小規模種植公司，油棕種植規模與印尼政府對海外企業實施的10萬公頃的種植範圍限制仍有一段距離，因此有很大的成長空間。”
曾貴秋：不強迫子女接班
年已70歲的曾貴秋仍魄力十足帶領美景控股進軍種植領域，當被詢及接班人選時，他表示，任何有傑出表現的員工都有可能繼承領袖位置，而他並不強迫其孩子成為接班人，讓他們自然學習和成長。
同時，他也笑言自己還很年輕，而只要仍有能力，就會繼續盡一份力。
曾貴秋在開發該油棕園時可說是親力親為，該園初時是一片原始森林，連公路也沒有，他在該處打點工作時常弄得全身黃泥，住宿時也被蚊蟲叮咬得多處紅腫。
然而，在他的管理之下，如今的油棕園是一片井然有序；同時，他巧用其發展產業的經驗，為油棕園開拓平坦道路與排水系統，增進收割果實的運輸效率，這些都反映他對該業務的重視與用心。
改善印尼當地人生活水平
值得一提的是，美景控股在該區開發種植業務之餘，也積極進行企業社會責任。在該區作出教育、基礎設施、提昇生活水平與環境保護。
曾貴秋披露，印尼政府號召種植園主為附近鄉鎮提供就業與社會援助，以提高當地人的收入狀況與生活水平。
“開發種植園為當地提供3千個工作機會，並改善當地人的生活水平，當地人從非常窮困到5年後的今天，每個家庭至少擁有一輛摩哆車至小型運貨羅里。”
他稱，公司也在該區設立學校，為勞工的孩子提供基本小學教育。
學校剛建立的時候，僅有數十位學生，如今學生人數已增至約百人，他笑言：“我每次來探望學生，都會派送進口巧克力給他們，所需的錢也從數百令吉提高至千餘令吉。
此外，公司也建立其他的基本設施包括診療所、提款機、回教堂、社區禮堂與足球場都一應俱全。
環境方面，他表示，公司採取更環境友善的方式開發與清理油棕種植並實施“零焚燒”政策；同時，大部份從原棕油廠房所排出的廢料也被循環使用成天然肥料，以避免造成河流污染。

Posted by ladzatz > 2013-12-02 14:15 | Report Abuse

http://biz.sinchew.com.my/node/86353?tid=8

Posted by Darren67 > 2013-12-02 20:05 | Report Abuse

Very risky counter. ....

Posted by anbz > 2013-12-03 09:41 | Report Abuse

earning per share almost 33 cents...is risky?

Posted by lcng123 > 2013-12-03 10:48 | Report Abuse

agreed with anbz. darren67, if you said that 4 years ago, i may agree with you, but at this moment, good prospect for property development in kajang and semenyih as 2 MRT station will be setup in kajang area. furthermore plantation business is going to shoot up. only one thing the management need to be cautious is foreign exchange rate.

Posted by haikeyila > 2013-12-03 10:54 | Report Abuse

look at wahseong spending all their money developing oil palms in... gasp.. congo, lol.

Posted by winman > 2013-12-03 11:17 | Report Abuse

no doubts about oil palms plantation brings good returns but in congo make sure the infrastructures are there or, i afraid you have to fork out big money for it. i can remember whether its congo or just some nearby countries where plantation personal from olam went and never return, its not my story, sum it up, bis not easy over there until sure of good securities

Posted by haikeyila > 2013-12-03 11:20 | Report Abuse

you could end up being eaten by gorillas, or charmed by the mamiwata.

Posted by Darren67 > 2013-12-03 11:34 | Report Abuse

Ha ha...I agree

Posted by winman > 2013-12-04 12:12 | Report Abuse

no gorillas but saw king kong, mamawata offer half boil ostrich eggs for breakfast, grilled lion meat for lunch and supper just fruits, its dark over there, not knomwingly, had lots of wild grapes and wild cherries, wonderful night lol

Posted by anbz > 2013-12-06 22:40 | Report Abuse

why so sleepy ...bila mau move...mrt sudah ada..sawit sudah naik..mau tambah lagi tanah plantation...kajang dia conquer....untung lagi 32 cents...belum tambah lagi 8 cents from unrealised indon currency..hai susah mau break RM3..hai hopefully this month coming... :(

Posted by anbz > 2013-12-06 22:41 | Report Abuse

correction 33 cents

Posted by Alas Long > 2013-12-09 19:46 | Report Abuse

wow, 10sens interiem divide!!! 4% divide yield.mkh really earn a lot wor. more than my expectation of 8sen.

Posted by tsurukame > 2013-12-09 20:06 | Report Abuse

MKH is Good Dividend yielding stock besides providing the future prospects of significant capital appreciation from increasing profits from palm oil n property development.

Posted by Aero1 > 2013-12-09 21:03 | Report Abuse

MKH pays to pay lesser on borrwoings. I'm thinking to convert the warrant .. Happy investing!

Posted by bsngpg > 2013-12-09 22:24 | Report Abuse

A..! Durian jatuh. I checked its past record, only 5 sens in each year. Wow, now from 5 jumps to 15 sens (Calendar year), 150/2620=5.7%, not bad ma.

Posted by tsurukame > 2013-12-09 23:33 | Report Abuse

Dividend Yield is Good...The DY can get even BETTER in the FUTURE YEARS from INCREASING EBIT from Plantations & Properties Development..MKH is Good for Medium to Long Term Investment

Posted by lcng123 > 2013-12-10 00:24 | Report Abuse

i am thinking no dividend pay for this year but really unexpected, they still afford to pay such a high dividend at the last day of 2013 (new year angpow) amidst of high liabilities in property sector and plantation sector.

Posted by 逍遥子 > 2013-12-10 10:56 | Report Abuse

The 10 cents dividend is really a surprise !!

Posted by cockroach > 2013-12-10 10:56 | Report Abuse

MKH seen so good~!

Posted by lcng123 > 2013-12-10 11:31 | Report Abuse

this is 1st interim dividend for FY2014, that means mkh may declare another dividend in FY2014. if the unrealised of rm50mil (foreign exchange loss) can be written off (after account audited) will be a good news for mkh.

Posted by anbz > 2013-12-10 15:15 | Report Abuse

hehe RM 4 coming

Posted by JXRepcoBuffet > 2013-12-16 14:13 | Report Abuse

星洲讀者陳小姐問：
美景控股（MKH,6114,主板產業組）的長期前景如何？最近在報紙上看到公司在印尼15200公頃種植地都快成熟進入盛產期，以原棕油2500令吉／公噸來預估，會帶給公司多少盈利？本益比多少？最近業績／今年和明年預估每股盈利（產業+種植）多少？ 證券行對這股評估的目標價多少？大股東是誰？是否有其它機構投資其股票？
答：有關美景控股長期前景，以下一點資料可供參考。
該公司是在2008年在印尼加里曼丹收購1萬5千942公頃種植地，至今大多數種滿油棕，預估其中3千200公頃開始作出貢獻，預料旗下種植業務的盈利貢獻可期。若是棕油價為每公吨2千500令吉，相信將為公司帶來更多盈利。
本益比為市價除以每股淨利。你可將以下最新業績的每股淨利年度化，加上最新市價，就可以找出最新的本益比。
例如截至2013年11月20日的市價為2令吉71仙，而全年每股淨利年度化為32.97仙，使預測本益比為2.71/0.3297=8.21倍，以此類推。
至於最近業績，截至2013年9月30日為止第四季，該公司淨利為2千416萬8千令吉（每股淨利為7.71仙），前期淨利為3千零29萬6千令吉（每股淨利為10.22仙）。第四季營業額為2億1千785萬8千令吉，前期為1億7千988萬6千令吉。
全年淨利則為1億零336萬8千令吉（每股淨利為32.97仙），前期為7千740萬9千令吉（每股淨利為26.12仙）。而營業額為6億8千829萬7千令吉，前期為5億5千592萬4千令吉。而該公司每股資產值為2令吉72仙。
該公司第四季業績淨利縮減，主要是蒙受6千300萬令吉的外匯虧損，因印尼業務的印尼盾兌美元及令吉匯率走低所致，特別是種植業因匯率因素而蒙虧。旗下製造業務表現也較為遜色，其他業務都取得較佳業務及盈利表現，包括產業及建築，而酒店及產業、建材貿易則扯平。
據網上搜獲資料，該公司截至2012年9月30日為止財政年的每股淨利為25.44仙，而2013年全年則為32.97仙。
證券行評價，據手中資料顯示，去年7月，僑丰研究將其合理目標為2令吉34仙，是以預測本益比8.33倍為准。不過沒有給予任何評級。
根據該公司2012年度財報資料，拿督曾貴秋通過家族公司持有該公司45.49%股權。而大眾銀行集團高級員工退休福利基金則持有9.039%股權。（星洲日報／投資致富‧投資問診‧文：李文龍）

Posted by Aero1 > 2013-12-26 10:05 | Report Abuse

Merry Christmas and Happy New Year!
A house issued TP 3.05
http://klse.i3investor.com/blogs/kenangaresearch/43925.jsp

Posted by lcng123 > 2013-12-26 10:49 | Report Abuse

look at the rupiah against usd and ringgit getting worse recently, i worry the loss in foreign exchange in plantation will be deteriorate in 2014. all the profit gain in property will be use to cover loss in plantation. don't know management got any actions to prevent it to be happen.

Posted by Aero1 > 2013-12-26 12:17 | Report Abuse

lcng .. Similar to CPO prices in Malaysia, when you have weaker local currency the CPO will adjust higher to mitigate the impact. IDR/MYR weakened by 4% but CPO price is higher by 8% in Q4 2013.

Posted by lcng123 > 2013-12-26 14:43 | Report Abuse

aero1, i am not talking about the cpo price, but the loan facilities mkh get in ringgit and usd to invest in kalimantan. look at the foreign exchange loss of rm66mil for plantation in Q4 2013.

Posted by eftee > 2013-12-26 14:50 | Report Abuse

Why they change name to MKH. It's vulgar in Cantonese.

Posted by lcng123 > 2013-12-26 22:01 | Report Abuse

mkh berhad previously knows as metro kajang holding berhad. they are based in kajang.

Posted by calvin > 2013-12-27 00:50 | Report Abuse

（吉隆坡26日訊）憑產業發展起家但逐漸多元化旗下業務，包括的美景控股（MKH,6114,主板產業組），遭肯納格研究評為“嚴重被低估”的股項。

肯納格在研究報告中表示，美景控股是家擁有強勁盈利紀錄的公司，1995年上市至今成功締造連續19年取得正面盈利佳績，不僅旗下可負擔房產發展策略令其有能力保持優勢，種植業務也預料在2014年開始貢獻，擴大業績基礎。

“美景控股旗下產業計劃主要落在加影一帶，且大多是叫價60萬令吉以下的可負擔房產，由於我們認為涉足可負擔房產的發展商能更好地適應目前經濟狀況，因此相信美景控股處在良好的位置。”

Posted by JXRepcoBuffet > 2013-12-30 09:57 | Report Abuse

嚴重被低估....??

Posted by bsngpg > 2013-12-30 10:54 | Report Abuse

嚴重被低估....??

If put debt and current level of FCF aside, just base on PE, I opine it is undervalue now, the surprise interim div at 10sens weeks ago was another plus point of MKH.

Q1: the company aims to expand plantation land significantly in Indo, which requires big initiate capex; the new investment requires subsequent cash outflow for at least 5 yrs before providing net cash for the co; meaning the a ability of high DPO is in doubt.

Q2: will it increase debt?

I have no answer for the Qs. Thus I do nothing, just sit and wait.

Posted by lcng123 > 2013-12-30 14:23 | Report Abuse

frankly speaking, the direction of mkh to go into plantation is correct and they are do it very well for the currect 15,000ha oil palm estate. but now the main problem is their debt. why not they propose a right issue, that said 1 for 5 at rm2.00. this can easily source for the fund about rm140mil.

Posted by SJSOON > 2013-12-30 17:18 | Report Abuse

Icng123: Basically, suppose the management studied well corporate finance and understood the pros and cons of several measures of raising fund. According to rule of thumb, a company tends to raise fund by borrowing if it thinks that the current interest rate is relatively cheaper than that exceeds its acceptable level. As the interest rate 3.00% (just the monetary rate stipulated by the bank negara; the base lending rate is approx. 6.50%) is considered low in Malaysia and also the rest of the world as the consequence of QEs. Therefore, this is why the company opts for loan rather than through new issuance of securities channel. Issuing new securities must not necessarily be a good thing to shareholders and this is often the last resort to the company if its credibility of honoring debts is doubted by the lending institutions. We do not think the existing loan is the major problem at the moment. What I expect is the positive prospect of palm oil amid the global recovery. This will contribute positive result to the earning performance and also it will generate recurring cash flow (or income). Suppose the oil price is on recovery, when the price climbs back to its previous peak, about RM 3000++ comparing to current RM 2600, what do you think of the earning of the company. Also, how will be the dividend payout. Plus, it is time for the company to harvest the oil palm for the next two years. Every effort and hard work for the last few years aare going to be paid off now. 2014 will be a good year!

Posted by kenken85 > 2013-12-31 09:05 | Report Abuse

can i know what happen? why recently share up without announcement that we know one?

Posted by Alex Chong > 2013-12-31 09:16 | Report Abuse

KLSE majority up to push up to new high 1900.

Posted by iafx > 2013-12-31 10:12 | Report Abuse

as palm oil price getting better, mkh will attract interest

Posted by iafx > 2013-12-31 10:22 | Report Abuse

mkh palm oil plantation timing is perfect

Posted by lcng123 > 2013-12-31 11:01 | Report Abuse

hi sjsoon, i do agreed with your point. with the current low interest rate, it is better get fund from financial institution rather than right issue, but just look at the foreign exchange loss rm63mil in plantation sector last quarter. today the rate for usd amd ringgit hit 12,000 rupiah and 3,700 rupiah respectively compare to 10,000 rupiah and 3,200 rupiah in Jul-Sept (the quarter mkh loss rm63mil). as US going to cut the QE progressively, the rupiah against usd getting depreciated in the months coming. if there was no action taken by the management to solve this issue, i can foresee the loss in foreign exchange will getting worse for Q1 2014 result. if this really happen, their effort to go into plantation was useless and eventually this will cumber the profit gain from property.