Mitrajaya coming quarter results should be good. Likely dividend will be declared. Insiders are now busy buying this share as it has been bitten down quite a lot lately. Any news on the sale of Lasik business?
If Mitra can declare at least 3.5 sen per share dividend upon the closure of its financial year end 31/12/15 along with its good reports, soon price will gradually climb back to RM1.20 - 1.40 region.
With the completion on the disposal for Lasik 51% subsidiary for 5.1 millions, more cash will be available for operations and dividends. HL investment bank has called for "buy" rating indicating the target price to be RM1.95. The bank has not disclosed up to when and for how long to achieve this target price of RM1.95
Maintain BUY, TP: RM1.95 Mitrajaya remains our top pick amongst the small cap contractors as it offers a compelling case of robust growth prospects (3 year CAGR: 24%) at inexpensive valuations of 9x and 7.5x FY15-16 P/E 11/02/2016 23:49
Today someone & gang is collecting as they keep pushing it down with 1 share at a cheaper price & their own kakis are queuing to receive. So, just hand on & wait lah & it will naik lah.
If next 4th quarter result is good, it show this counter among 3 years straightly QoQ result has strong profitability. Nowadays, it's very hard to find the company has profit continuity.
cmchin If next 4th quarter result is good, it show this counter among 3 years straightly QoQ result has strong profitability. Nowadays, it's very hard to find the company has profit continuity. 13/02/2016 01:12
For spaghetti, many thanks for your information. Hopefully, your piece of projection is correct; Further upside for Mitrajaya will be a certainty. And if the Board is smart enough, then declaration of dividend at 3.5-4.5 cents per share will boost up prices even higher.
After checking Mitrajaya 3qrt results, spaghetti's prediction may not be correct. 9 months Mitrajaya reported 636 millions revenues, 83.6 millions pretax profits. Assuming 4 quarter revenues recorded RM200 millions, then total profit before tax = RM103.6 millions, far below the consensus. I would expect more than RM240 millions revenues Vs Sept 2015 RM231 millions; with pretax profit of at least 26 millions.vs RM25.8 millions of the last quarter.
I will only look at it < RM1.00; the biggest mistake is to try to annualise construction profits. Instead, investors should focus on order book execution instead. Fundamentally its still a good stock but the large caps are getting cheap and focus from the institutions may change.
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....
Lee Yih Yeong
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Posted by Lee Yih Yeong > 2016-01-22 10:16 | Report Abuse
today is a buy call for mitrajaya. tp 1.40 this week.