Posted by Aero1 > 2018-06-06 15:16 | Report Abuse

Today's cabinet meeting - Government wants banks to loosen lending rules for small businesses and first-time home buyers. https://www.malaysiakini.com/news/428526

Posted by enid888 > 2018-06-06 22:18 | Report Abuse

The new government has indicated a few times that they together with Bank Negara will look into ways to increase housing loan amounts to especially the first time purchasers.

Posted by K.H > 2018-06-20 14:53 | Report Abuse

ADBS.MKH.31-5-2018
https://eresearchsystem.bursamalaysia.com/eResearch/webdownload.pub?id=20949

Posted by Aero1 > 2018-06-22 16:10 | Report Abuse

I think they are quite confident on near term. Shanghai outskirts property may be fetching good value where MKH owns 10 acres land.

Posted by enid888 > 2018-07-24 03:00 | Report Abuse

More than 10 years ago, companies are allowed and encouraged to revalue their landbanks. Therefore, the NTA would reflect the actual market values of the landbanks. However, the subsequent FRS (Financial Reporting Standards) by Bursa requires the landbanks to be carried at cost. This new requirements is suitable for companies who bought lands for immediate developments like SDB, Hua Yang, MCT, Thriven and Sunsuria.

However, there are some companies that bought their development landbanks and keep them for a long time, between 10 years to as long as 40 years in some cases. The NTA in this type of companies is grossly underestimated. As the NTA does not show the true picture of the company, the financial analysts then create a new term for the actual NTA when the current market values of the properties are calculated. They name it RNAV (Revised Net Asset Values). In fact, the RNAV is actually the NTA of the development companies.

I would say Bursa has set the wrong FRS and enable the property counters to grossly underestimate their NTAs and hence artificially suppress the share price of the property counters. The major shareholders are very happy with this because they can buy back the shares from the market either in their personal capacities or company share buybacks at very low price. That is the reason that there were so many privatisations taken place in these few years in property counters.

This includes Hunza, OSK Property, PJ Dev, Wing Tai and a few more. The two ongoing mandatory general offers are TA and TAGB. The major shareholders are taking advantage of the wrong situations and ignorant of the general retail shareholders. If Bursa Malaysia does not revise the FRS and corrects the situations, more and more companies will be privatised. The counters that fall into this catogery are E&O, MKH, Paramount, Oriental, TA, TAGB, KSL, Tropicana and some others.

Many of the retail investors do not have the financial knowledge and are fooled by the wrong situations. For me, I am equipped with the financial knowledge and many years of experience in Bursa to witness and realise the wrong development took place.

Posted by Aero1 > 2018-07-24 15:14 | Report Abuse

More active now.

Posted by smartly > 2018-08-21 17:01 | Report Abuse

once SST come into place, properties counters will shine.
sapu cheap now before too late.... :)

Posted by CK > 2018-09-11 18:35 | Report Abuse

Company keep buying, good sign ?

Posted by CK > 2018-09-20 15:37 | Report Abuse

Keep going down and down.......

Posted by WICKEY > 2018-09-20 17:35 | Report Abuse

Run run run

Posted by sowsc1987 > 2018-09-22 08:31 | Report Abuse

Undervalue stock,final quatar “saville cheras property will hand over,Hillpark Shah Alam maple will hand over too and palm 延迟进账的会在last quatar 放映。。。I think Kajang East also good take up rate .....

Posted by bclim_83 > 2018-09-24 09:07 | Report Abuse

It is undervalued. In long term it is good company to invest in. But, in near term its earning will be impacted by weakened rupiah and CPO price

Posted by Aero1 > 2018-09-24 16:17 | Report Abuse

... and the 10 acres land in China converted to property investment status ... plus borrowings are being liquidated ... Indonesia operations are now cash generation ... plus take-over target ... BUT the share price still drops

Posted by K.H > 2018-09-25 16:21 | Report Abuse

https://eresearchsystem.bursamalaysia.com/eResearch/webdownload.pub?id=21228

Posted by Aero1 > 2018-09-26 08:29 | Report Abuse

This poor analyst Quah keeps asking to buy but keeps lowering the target price.

Posted by Aero1 > 2018-09-27 08:53 | Report Abuse

Good level to aggressively share buyback .. benefit all. Now Quah should ahead of the curve call TP RM1.00 (not met never mind lah since his call all along not met).

Posted by K.H > 2018-10-01 12:16 | Report Abuse

MKH sees profit rebounding in FY19 after hitting five-year low | http://www.klsescreener.com/v2/news/view/437158

Posted by Aero1 > 2018-10-01 18:04 | Report Abuse

Why nobody asks about the property in China?

Posted by Aero1 > 2018-10-17 09:16 | Report Abuse

https://www.thestar.com.my/business/business-news/2018/10/17/mkh-selldown-overdone-says-alliancedbs/

Poor Alliance .. always on the wrong side of the forecasting. Call TP RM1.00 before rebounding please.

Posted by RVI123 > 2018-10-20 21:38 | Report Abuse

MKH's Hillpark Puncak Alam has come to the tail end of the development. Anyone knows if MKH has other land or joint venture land in the nearby area?

Posted by sowsc1987 > 2018-10-21 09:15 | Report Abuse

Mkh coming year will focus on kajang 2 development....director say on agm.....

Posted by RVI123 > 2018-10-21 23:19 | Report Abuse

@sowc1987, I did not attend the AGM. Can share some important items clarified by the directors?

Posted by sowsc1987 > 2018-10-25 21:35 | Report Abuse

One more good property company(selangor property) get private.....

Posted by shareinvestor88 > 2018-10-29 23:23 | Report Abuse

Sell TP 80c

Posted by CK > 2018-10-30 14:33 | Report Abuse

Sian counter....... got JV news also not feeling......

Posted by enid888 > 2018-11-02 00:07 | Report Abuse

MKH should be another beneficiary of the coming budget. MKH has quite many projects that fall under the affordable category especially two of them are under PRIMA. Incentives will be announced for the affordable housing sector in the coming budget.

Posted by RVI123 > 2018-11-02 20:53 | Report Abuse

Good budget for affordable house buyers especially those first time buyers.

Posted by sowsc1987 > 2018-11-03 09:32 | Report Abuse

expecially for the developer build TOD concept house"petrol price will expensive"+monthly RM100 unlimited public transport

Posted by sowsc1987 > 2018-11-03 09:33 | Report Abuse

TOD house will the future market trend.....link almost the klang vally

Posted by enid888 > 2018-11-05 01:40 | Report Abuse

In this week's TheEdge, The MD said that MKH is one of the biggest TOD developers in the market. MKH has land near to 7 MRT or KTM Station. MKH has lands near to Titiwangsa, Batu 11 Cheras, Sungai Jernih, Kajang Stadium, Kajang MRT stations. It also has lands near to Kajang 2 and Nilai KTM Komuter stations. I think MKH could actually be the biggest TOD developer in Malaysia.

Posted by commonsense > 2018-11-16 10:14 | Report Abuse

4Q18 result (ending september) should be higher than last year mainly driven by the plantation division from higher production and sales of palm oil products.

Hopefully the property development and construction division would also make a rebound from the 3Q18 low backed by the RM999mil unlbilled sales as of Jun 2018.

Major shareholder and the company itself have been aggressively buying the shares from open market starting from the RM1.40 level which show that the current price is considered undervalue by company's insider. This provide a firm support level of share price at RM1.20.

Can anyone provide a target PATAMI for FY 2019? I have target PATAMI of around around RM88mil assuming the plantation production level maintains at the current year average and CPO price average at around RM2000 per tonne. Assuming also a better revenue and profit generation from progressive billings of existing projects. At the current market cap, it would value the company at around 8.3x fwd PE.

Please take note that the average PATAMI for the company in the past 5 years has always been higher than RM100mil. But mostly it is dependent on the property development and construction division.

Posted by commonsense > 2018-11-21 09:20 | Report Abuse

Hi enid,

You seem to have a lot of knowledge about the company.

I am currently rereading the 2017 annual report of MKH. In the management discussion they mentioned that one of the reason for the lower rev and pbt of property development & construction is due to the tail end phase of some of the project (which include handover of vacant possession).

I had always assume that at the tail end of a property project, companies profit margin would be higher (especially during handover of vacant possession) as there will be lower cost incurred.

Is this correct?

Thanks in advance.

Posted by commonsense > 2018-11-21 09:44 | Report Abuse

Enid,

Do you have any profit projection for FY19?

4Q18 (end sept) should show growth because of better performance from the plantation division. But this all depends on the Forex. IDR has actually weaken a lot if compared to RM and USD for period between July to Sept 2018. That being said i still think the group will show good PATAMI vs last year's result.

4Q18 PATAMI between RM15mil to RM20mil. Do you agree?

Posted by lcng123 > 2018-11-21 11:54 | Report Abuse

I think plantation sector will post a minor gain due to lower cpo selling price (despite higher ffb output) and weak rupiah against usd. but hopefully more unbilled sales propertise can be recognised to boost up in the coming quarter result.

Posted by Aero1 > 2018-11-22 08:28 | Report Abuse

Dividend coming?

Posted by lcng123 > 2018-11-23 15:21 | Report Abuse

i think next month....

Posted by commonsense > 2018-11-24 06:09 | Report Abuse

Hi icng,

I think they still can record a commendable profit for 4Q18 based on their performance on 3Q18. The biggest risk to profit for me is the weak rupiah rather than the lower selling price of CPO. Hopefully there are no longer any delay in the progress of Hill Park Shah Alam.

Dividends are normally announce in 1Q result (in Feb) and paid in 2Q.

Posted by commonsense > 2018-11-24 09:09 | Report Abuse

Icng,

Average CPO price for 4Q18 (jul - sep) was around RM2100 - 2200 per MT. Hence why i think that the plantation division profit contribution should still be above RM10mil.

However for 1Q19, i might be a bit worried. The CPO price tumble last week to RM1,716/MT on thursday which was the lowest since 2008. Hopefully it will rebound back soon.

Regards.

Posted by lcng123 > 2018-11-25 07:21 | Report Abuse

commomsense, from the past record, mkh used to announce dividend in Nov. ex on Dec and pay on Jan

Posted by commonsense > 2018-11-25 07:33 | Report Abuse

Hi Icng,

Ur right. i was using the financial result announcement as reference to the payment date. Should have used the entitlement announcement instead.

Thanks for correcting me.

Posted by enid888 > 2018-11-26 01:19 | Report Abuse

@commonsense, I supposed that the tail end phase that the management refers to is the construction progress where most of the physical work has been completed but before the handover to the buyers. During this phase, the developer and contractor are doing the touch-up work, arranging Bomba testing and applying for other authority approvals.

You are right, usually there will be a higher profit being booked after the handover of the units to the buyers.

Posted by enid888 > 2018-11-26 01:25 | Report Abuse

@commonsense, it is very hard to predict the quarterly profits unless we follow the site progress and site progress claim ourselves. I am not working in MKH, therefore I do not know. However, MKH management predicts that the profits for the next year will be good because the site progress will be faster and sales will be better.

Posted by commonsense > 2018-11-26 06:12 | Report Abuse

Hi enid,

Thanks for the explaination. Hope MKH can post good result for 4Q18.

Posted by CK > 2018-11-26 08:04 | Report Abuse

http://www.enanyang.my/news/20181125/%e3%80%90%e7%8b%ac%e5%ae%b6%e3%80%91%e9%81%ad%e9%80%a2%e6%81%90%e6%80%96%e5%b9%b4-%e4%bb%b7%e6%a0%bc%e8%b7%8c%e7%a0%b42%e5%8d%83-%e6%8e%a2%e7%b4%a2%e6%a3%95%e6%b2%b9%e5%89%8d%e8%b7%af-2/

Posted by lcng123 > 2018-11-27 06:20 | Report Abuse

unbilled sales kept increasing, now hit nearly RM1bil ... it is time to recognised in this coming quarter result.

Posted by Aero1 > 2018-11-27 10:03 | Report Abuse

https://www.reuters.com/article/indonesia-palmoil/update-2-indonesia-to-drop-palm-oil-levy-as-farmers-hit-by-price-fall-idUSL4N1Y13EO

Good News!

Posted by Aero1 > 2018-11-27 13:02 | Report Abuse

Another Good News !
http://www.theedgemarkets.com/article/mkh-launch-kajang-east-final-precinct

Posted by lcng123 > 2018-11-27 15:05 | Report Abuse

report said mkh hit RM820mil property sales for fy2018. this may bring a strong Q4 result for mkh.

Posted by dnlt > 2018-11-28 08:44 | Report Abuse

As we are expecting properties going to be OK, the plantation segment is not likely to perform. CPO around RM2K and don't know how much for the fair value adjustment in Indonesia operations in the coming report.

Company is cheap so it's good to see the insiders are buying. It's also a final Q so it will be bundled with dividends. Hopefully 0.05-0.06.

Posted by kenken85 > 2018-11-29 19:11 | Report Abuse

any chance result is in red? hehe