Mitrajaya share price has been dropping even prior to 3 QR and it is still dropping very gradually on daily basis, even though share buying back by company and ESOS by selected staff. Something is not right as many fund managers are predicting Trading Price in the region of RM1.60-1.80. Anyone that can enlighten us for the reason continued price negative movements?
Order on hand drop to 1.3 bil according to the latest QP.. could this be the reason? In the past, Mitra had always managed to cover the loss, lets see if it will bounce back to life this round..
From the proceeds of sale of land in Kota Tinggi, Johor, Mitrajaya will be able to pare down loan and probably able to pay 5 to 6 cent dividend next year.
Front page of the Edge today has mentioned about the probable chance of Mitrajaya secures a contract for Ara Damansara. If this is true, then more upside is in order for days to come.
aiyo only RM 159m shoot like this, sure ppl wanna clear stock apparently. long term mitra still good. i don't understand the gkent fly so high. this good stock no ppl bother
I had been tracking this stock for the past 2-3 years, i belief it is being guarded and monopolized by speculators that woudlnt want the share price to soar. There is nothing wrong with the stock fundamentally. Except that : 1- net debt with debt to equity ratio of 35% with increasig net borrowings every quarter for unknown reasons (hopefully its due to the mega projects that it had received) 2- pay little dividends of just 5sen per year (DY 3.5%) 3- negative free cash flows
Mitrajaya is a slow starter in securing projects. Dec 2016 alone Mitrajaya secured 2 projects amounting to RM342.4 millions made up of RM183 millions for West Coast Expressway and RM159.4 millions Medini Iskandar Malaysia Johor. 2017 FY will see Mitrajaya reporting huge increase in profits leading to better dividend payments. Additionally, the compulsory land acquisition by Johor Govt will help to pare down loans.
Thank you gcke for your enclosure dated 13/1/17 highlighting that Hong Leong Investment has projected a trading price for Mitrajaya at RM1.95. This is only possible if the coming QR is positively higher than the last QR and the Board is willing to pay 5-6 cent per share dividend for FY2016
Target price RM1.36, RM1.50 Last closing price RM1.28 Potential return 6.2%, 17.1% Support RM1.25 Stop loss RM1.19
Possible for further upside. MITRA's share price headed sideway for the past one and half a months. From a weekly perspective, both bullish RSI and MACD indicators currently signal reasonable entry level, with anticipation of continuous improvement in both momentum and trend in near term to lift price higher to the resistance levels of RM1.36 and RM1.50. However, failure to hold at support level of RM1.25 may indicate weakness in the share price and hence, a cut-loss signal.
Possible for further upside. MITRA's share price headed sideway for the past one and half a months. From a weekly perspective, both bullish RSI and MACD indicators currently signal reasonable entry level, with anticipation of continuous improvement in both momentum and trend in near term to lift price higher to the resistance levels of RM1.36 and RM1.50.
However, failure to hold at support level of RM1.25 may indicate weakness in the share price and hence, a cut-loss signal.
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....
red_85
1,259 posts
Posted by red_85 > 2016-12-06 11:09 | Report Abuse
growth slow down..time to jump ship..bye bye...
construction theme end soon.=X