Posted by i3i2i1 > 2014-09-17 08:56 | Report Abuse

Nordi, why you say within a month from now? FBM is getting better?

Posted by nordimohd > 2014-09-17 13:05 | Report Abuse

i3i2i1,
(based on technical only n disregard the fundamental) azrb swing up since early aug n re-firm bullishness by the current up cycle which forming small break for short while...so next cycle up is probably final show n could go as low as 92ct n as high as rm1.43....
hold on n good luck....

the same cycle is happening earlier to farmbes n farbes-WB, n now likely about to spring up....

Posted by i3i2i1 > 2014-09-17 14:01 | Report Abuse

to me, still need to break 0.78

Posted by nordimohd > 2014-09-17 15:15 | Report Abuse

i3i2i1,
the current azrb price movement could be just like the price that started in march 2013 n ended in mid july 2013....

Posted by 0bucks > 2014-09-17 17:08 | Report Abuse

talk still a talk, for malaysia market, even u r a super gem, wont move means wont move. see those top volume share all is shit stock. anyhow, tiny inverted hammer has been seen

Posted by i3i2i1 > 2014-09-17 17:19 | Report Abuse

need 0.78 first! :(

Posted by i3i2i1 > 2014-09-17 17:20 | Report Abuse

see FIAMMA which i almost let go but suddenly up when the chart shows bad.... they will drive it when it becomes almost bad/worst...

Posted by ryan_och > 2014-09-17 20:33 | Report Abuse

next support 0.735 @ MA50, if drop to 0.72, then this round rally has stopped, have to wait for another round.

Posted by AhMoi > 2014-09-18 10:24 | Report Abuse

O... looks like AZRB is not going down just yet instead has more legs to go

In the wedding dinner, tall tales must have been told, prowess in getting projects boasted, great profit if one is invested in AZRB hinted..... ; )

Posted by 4u2c > 2014-09-18 12:54 | Report Abuse

they are trading near 81 cts...matter of time,they break that wall !!

Posted by lks_5291 > 2014-09-18 15:09 | Report Abuse

[转帖] 基金經理渴求投資標的‧建築和能源後市唱好

阿末查基資源（AZRB,7078,主板建筑組）下半年合約前景看好，且前景遭到低估值得投資者關注。（星洲日報／財經‧報道：洪建文）

點看全文: http://biz.sinchew.com.my/node/102104?tid=23#ixzz3DeAIT2rU

Posted by dg123 > 2014-09-18 17:01 | Report Abuse

@AhMoi: Wedding dinner? what kind of wedding dinner do they talk about stocks ? :D

Posted by 4u2c > 2014-09-18 17:16 | Report Abuse

Let us see more positive action......

Posted by AhMoi > 2014-09-18 17:39 | Report Abuse

dg123... your research is not broad-base enough... and sources limited.....

haven't you heard the big boss's daughter's wedding... ???

Posted by dg123 > 2014-09-18 17:42 | Report Abuse

@AhMoi oh, i really didn't know that. Now I see. Yeah my antenna not that long

Posted by AhMoi > 2014-09-18 17:58 | Report Abuse

In the wedding dinner, tall tales must have been told, prowess in getting projects boasted, great profit if one is invested in AZRB hinted..... ; )

Posted by AhMoi > 2014-09-18 17:59 | Report Abuse

FYI the day after the wedding AZRB had a gap up and high of 0.81 ; )

Posted by AhMoi > 2014-09-18 18:01 | Report Abuse

well.... there was the CIMB report.... but CIMB big bosses could well be the guesses too ; )

Posted by AhMoi > 2014-09-18 18:02 | Report Abuse

Malaysia is small, KL even smaller...

Posted by AhMoi > 2014-09-18 18:06 | Report Abuse

anyway, what is important is that AZRB has got all the good great stuff mentioned in the CIMB report... and, I think it is very fair that CIMB has a FV of RM 1.48 for AZRB...

FV of RM 1.48 for AZRB

Posted by dg123 > 2014-09-18 18:07 | Report Abuse

I see, i hope they have more wedding dinners in future....hahaha

let see how it goes tomorrow

Posted by AhMoi > 2014-09-18 18:10 | Report Abuse

FV of RM 1.48 for AZRB

and AZRB is green among all the reds today..... sales at 0.76 all absorbed... great thing coming... up trend resuming... don't sell, instead get some

Posted by AhMoi > 2014-09-19 08:06 | Report Abuse

CIMB:: AZRB has at least 103% upside from current price. ...


AZRB fits squarely into the category of a smaller-cap pure contractor with decent order book growth and new recurring income assets, and that is hugely undervalued relative to its RNAV. Longer-term recovery prospects are underappreciated, in our view. AZRB is worth double its market value. AZRB is the concessionaire of the RM1.6bn EKVE whose DCF value is arguably almost equivalent to AZRB's market cap. Today, investors would be paying for its construction and oil & gas bunkering businesses, but getting its other assets for free. The stock trades at a massive 75% discount to its RNAV. A 50% RNAV discount implies 103% upside.

AZRB is the concessionaire of the RM1.6bn EKVE whose DCF value is arguably almost equivalent to AZRB's market cap. Today, investors would be paying for its construction and oil & gas bunkering businesses, but getting its other assets for free. The stock trades at a massive 75% discount to its RNAV. A 50% RNAV discount implies 103% upside.

Matching the bigger boys

AZRB's business structure is similar to the likes of Gamuda and IJM Corp i.e. an order book-driven construction earnings, backed by stable and predictable earnings from property development, with more lucrative margins coming from other segments like its oil & gas bunkering facilities. There are also inherent values from its property and plantation land banks.

New profits from 2016

Construction and oil & gas are the two major profit generators for AZRB, with contributions coming in at an equal split. Clearly, AZRB's underappreciated potential growth in net profit is a function of execution.

Drivers are

1) realisation of new construction profits from the RM1.6bn EKVE as early as mid-2015;

2) new property development profit from 2015-16 from its over 300-acres land bank;

3) another concessiontype recurring income stream from the hospital concession from 2017; and

4) the potential breakeven/ turnaround of its plantation division, likely from 2017.

75% discount to RNAV

AZRB currently trades at a massive 75% discount to its RNAV. This is a huge gap vs. the 27-49% trading discount to RNAV for the contractors under our coverage. Its share price is a big laggard compared to the share prices of other small-cap contractors or other small-cap stocks in general, which have surged or even doubled YTD. Potential catalysts are job wins, start of works of EKVE, and investors' greater appreciation of deep-value laggards.

Source: CIMB Daybreak - 08 September 2014,

Posted by i3i2i1 > 2014-09-19 09:02 | Report Abuse

good news i heard a lot but let's see and wait.... sometimes get tired as at the same time, others run so well....

Posted by nordimohd > 2014-09-19 09:03 | Report Abuse

but how come those RNAV very much different from annual report....??? just wounder.....

Posted by yongyou > 2014-09-19 09:14 | Report Abuse

Hi Ah Moi, this is a very good value.

"AhMoi FV of RM 1.48 for AZRB

and AZRB is green among all the reds today..... sales at 0.76 all absorbed... great thing coming... up trend resuming... don't sell, instead get some

18/09/2014 18:10"

Posted by i3i2i1 > 2014-09-19 09:24 | Report Abuse

nordi... 1 thing i dont know why but few... few counters have reports/info from research house about new higher, much higher TP but.... not updated into system and some seems/said as unofficial... confused lar...

Posted by nordimohd > 2014-09-19 09:38 | Report Abuse

i3i2i1,
yes i also just like u confuse....but read between the line as if cimb is holding alot azrb to dispose that why probably they put very rosy figure to catch all small investors like us....as what i wrote earlier now azrb is at the 2nd small up cycle re-firming the bullish crossing of the 1st small up cycle and likely to go side way for short while ranging from 72ct to 75ct before having strong big up cycle movement....

Posted by i3i2i1 > 2014-09-19 09:41 | Report Abuse

haah... i wait as sideline and meanwhile enjoying the show on fiamma.... :)

Posted by nordimohd > 2014-09-19 09:48 | Report Abuse

i3i2i1,
i am trapped in the farmbes-wb re-firming 2nd up cycle and waiting the final big up swing show....

Posted by i3i2i1 > 2014-09-19 09:57 | Report Abuse

all the best but its Friday.... normally Friday to me like buying not selling...

Posted by nordimohd > 2014-09-19 10:07 | Report Abuse

i3i2i1,
normally the 3rd big up cycle will take 3 weeks to 1 month from the last 2nd small cycle consolidation to reach the big top...azrb is also in the same situation now but farmbes is occurring a week earlier....good luck...

Posted by i3i2i1 > 2014-09-19 10:19 | Report Abuse

sama sama luck lar.. see if AZRB have such faith+fate

Posted by nordimohd > 2014-09-19 10:37 | Report Abuse

i3i2i1,
no worry looking at the azrb chart look like the hill with partway clear up to the mountain....(92ct - rm1.43 mountain)....

Posted by user > 2014-09-19 11:06 | Report Abuse

Yes, accumulation mode..........

Posted by AhMoi > 2014-09-19 11:37 | Report Abuse

nordi......the RNAV in CIMB report is not the same as the annual report probably because CIMB really RRRRRRRRRRed its RNAV value by..... for example using the present value of the toll concession's cash flow but not so in the annual report.... CIMB's RNAV would be more RRRRRRRRRed, you get what I mean?

Posted by AhMoi > 2014-09-19 11:40 | Report Abuse

CIMB's RNAV would be more RRRRRRRRRed....... as such more reflective more correct of the present value of AZRB

Posted by user > 2014-09-19 11:50 | Report Abuse

Last call at 0.76.........

Posted by nordimohd > 2014-09-19 12:43 | Report Abuse

no worry it will likely consolidate for few days around that level i.e.72ct -76ct before climbing to new high....

Posted by i3i2i1 > 2014-09-19 14:06 | Report Abuse

http://www.thestar.com.my/Business/Business-News/2014/09/19/Seven-highways-worth-RM20bil-expected-to-start-work-next-year/

Posted by i3i2i1 > 2014-09-19 14:07 | Report Abuse

tempias ada kot...

Posted by mhchai > 2014-09-19 14:24 | Report Abuse

http://www.theedgemalaysia.com/business-news/308025-ijm-wct-trc-mudajaya-azrb-among-key-beneficiaries-of-new-highway-jobs-says-hlib-research-.html

Posted by AhMoi > 2014-09-19 14:29 | Report Abuse

Ya all Hold... leaving only AZRB the laggard.....

Posted by nordimohd > 2014-09-19 14:46 | Report Abuse

mhchai & i3i2i1,
TQ for sharing

Posted by nordimohd > 2014-09-19 14:49 | Report Abuse

any possibility of another right issue....this is seem to be the trend now for some companies in getting cheep funding....or private placement...

Posted by i3i2i1 > 2014-09-19 14:52 | Report Abuse

you are business minded! another project needs it right? i just completed TGUAN ICULS... pls not from AZRB now... no cash liao.. unless i unload all FIAMMA..

Posted by nordimohd > 2014-09-19 16:05 | Report Abuse

haha me tooo..

Posted by AhMoi > 2014-09-19 16:08 | Report Abuse

haha me three.....

Posted by nordimohd > 2014-09-19 16:44 | Report Abuse

so looking at the construction news just now seem like the bull is good for another 6 months may be purposely adjusted for listing 1MDB in qtr 1 (based on the star bizz news)...so potentially dec 2014 early 2015 would be cash out time for stockist n fund mgr to chase 1MDB listing...so be careful don't be at the wrong side....trapped in the some ambiguous heavenly news.....kikiki

Posted by fortunebullz > 2014-09-19 17:50 | Report Abuse

Haix! Azrb! Only having erection once every 5 weeks!