Posted by FGV_ > 2019-11-21 07:34 | Report Abuse

Revenue up latest QR means sugar buyers coming back.

Posted by FGV_ > 2019-11-21 07:36 | Report Abuse

Buy at 0.9 can untung 15 sen haha.

Miz Raya Bloom AFFIN kat HOLD tp 1.05
20/11/2019 7:51 PM

Posted by lee_m2020 > 2019-11-21 08:46 | Report Abuse

Bloodbath no end yet

Posted by Miz Raya Bloom > 2019-11-21 10:26 | Report Abuse

too early to tell mungkin AFFIN TP 1.05 tu boleh caya

Posted by Miz Raya Bloom > 2019-11-21 14:32 | Report Abuse

Investment Highlights

We are upgrading MSM Malaysia to HOLD from SELL as its share price is below our fair value of RM1.02/share. Our new fair value of RM1.02/share (vs. RM1.20/share previously) is based on a P/NTA of 0.6x compared with 0.7x originally. The lower P/NTA accounts for the risk of further asset impairments for MSM. We forecast MSM’s NTA/share to be RM1.69 as at end-FY19E.

MSM’s performance in 9MFY19 was below consensus estimates and our expectations. The group reported a bigger net loss of RM185.0mil in 3QFY19 vs. RM65.4mil in 2QFY19 due to a RM137.3mil impairment on property, plant and equipment. Excluding the impairment, MSM’s net loss would have been RM47.8mil in 3QFY19.

We have increased our forecast of MSM’s net loss for FY19E to RM132mil from RM120mil as operating expenses were higher than expected.

MSM’s performance was poor in 9MFY19 as the group was hit by a 9.2% YoY fall in domestic selling prices and a 1.1% decline in sales volume. Refined sugar prices fell due to competition from imported sugar and Tradewinds Group’s Central Sugar.

In addition, MSM was affected by higher interest and depreciation expenses attributed to the new sugar refinery in Tanjung Langsat, Johor. Interest expense surged by 303.6 YoY in 9MFY19 while depreciation expense increased by 281.3%.

MSM’s sales volume (ex-molasses) slid by 1.1% YoY to 698.000 tonnes in 9MFY19. We believe that the fall in demand was due to customers switching to imported sugar products, which are cheaper. Also, we think that industry demand for sugar might have declined as the sugar tax on packaged drinks took effect in Malaysia on 1 July 2019.

Breaking it down, sales volume of sugar to the industrial segment slipped by 2.1% YoY in 9MFY19 while sales volume of sugar to the retail segment rose by 6.7%. Export sales dived by 28.6% YoY to 60,000 tonnes in 9MFY19.

On a quarterly basis however, sales volume of sugar products (ex-molasses) improved by 13.5% in 3QFY19 as there was less competition from imported sugar products. We understand that most of the quota of sugar imports under the approved permit system had already been used up.

Source: AmInvest Research - 21 Nov 2019

Posted by RainT > 2019-11-21 17:00 | Report Abuse

wah

so bad result

just down 3% only consider good lo

Posted by Miz Raya Bloom > 2019-11-21 20:25 | Report Abuse

fair value 1.02

Posted by utusan > 2019-11-22 09:24 | Report Abuse

Rubbish company like Utusan. Will bankrupt soon.

Posted by Miz Raya Bloom > 2019-11-22 10:26 | Report Abuse

tegap

Posted by 8888_ > 2019-11-22 12:04 | Report Abuse

EPF CEO kena ubah bukan PM?

Posted by 8888_ > 2019-11-22 12:07 | Report Abuse

SM boleh beli macam beli Media Prima?

Posted by Miz Raya Bloom > 2019-11-22 14:31 | Report Abuse

kasi naik 1.05, boleh?

Posted by smallfishyu > 2019-11-22 14:45 | Report Abuse

MSM Malaysia Holdings Bhd said higher operating costs and weaker price power for its sugar products contributed to losses in the third quarter ended Sept 30, 2019 (3Q19).

The company recorded a net loss of RM185.1 million or 26.34 sen loss per share for the 3Q19 versus a net profit of RM15.88 million or earnings per share of 2.26 sen recorded in the same period a year ago.

The country’s leading refined sugar producer and one of the biggest sugar refiners in Asia was hit by higher refining and finance cost including a RM137.35 million provision for plant and machinery.

Posted by Miz Raya Bloom > 2019-11-25 09:57 | Report Abuse

BUY STILL BELOW FAIR VALUE OF IB's RM1.02-1.05

Posted by Jeffreyteck > 2019-11-25 12:27 | Report Abuse

2 billion revenue supported by more than 1 billion loans. Well done.

Posted by FGV_ > 2019-11-25 14:23 | Report Abuse

Selling Perlis land to reduce bank borrowings why Jeffreyteck unaware?

Posted by Loh Kok Wai W > 2019-11-25 22:51 | Report Abuse

All is ular director....

Posted by Zali Daud > 2019-11-26 01:30 | Report Abuse

MIDF TP 0.70? Aku nak tunggu sekitar o.70 - 0.75 untuk everage!

Posted by Victor Yong > 2019-11-26 11:33 | Report Abuse

investor for a stake in MSM should be coming... MSM should rebound at least to fgv price soon

Posted by Victor Yong > 2019-11-26 11:34 | Report Abuse

sugar is a commodity like palm oil, etc... surely rebound... fgv fell to 60sen+ now double in price

Posted by Victor Yong > 2019-11-26 11:34 | Report Abuse

MSM should rebound like fgv soon :p

Posted by Miz Raya Bloom > 2019-11-26 11:35 | Report Abuse

FGV pun dok naik2, baiklah kita based on fair value 1.02 tu

Posted by Victor Yong > 2019-11-26 11:35 | Report Abuse

those who miss buying fgv at 60sen+ can now buy msm :)
Recent Prices
Date Open Range Close Change Volume
25/11/2019 0.915 0.885 - 0.92 0.885 -0.025 (2.75%) 612,500
22/11/2019 0.87 0.87 - 0.935 0.91 +0.04 (4.60%) 2,182,900
21/11/2019 0.87 0.86 - 0.89 0.87 -0.035 (3.87%) 1,817,200
20/11/2019 0.915 0.905 - 0.915 0.905 -0.005 (0.55%) 583,400
19/11/2019 0.895 0.89 - 0.91 0.91 +0.02 (2.25%) 535,400
18/11/2019 0.91 0.89 - 0.91 0.89 -0.02 (2.20%) 1,079,600
15/11/2019 0.92 0.91 - 0.93 0.91 -0.005 (0.55%) 940,000
14/11/2019 0.93 0.915 - 0.93 0.915 -0.015 (1.61%) 482,200
13/11/2019 0.94 0.92 - 0.94 0.93 -0.01 (1.06%) 1,623,500
12/11/2019 0.955 0.93 - 0.955 0.94 -0.02 (2.08%) 899,700
11/11/2019 0.975 0.95 - 0.98 0.96 -0.015 (1.54%) 2,201,600
08/11/2019 0.985 0.975 - 0.99 0.975 -0.005 (0.51%) 1,489,700
07/11/2019 0.975 0.965 - 0.995 0.98 0.00 (0.00%) 2,233,600
06/11/2019 0.98 0.975 - 0.985 0.98 0.00 (0.00%) 529,300
05/11/2019 1.00 0.98 - 1.00 0.98 -0.015 (1.51%) 873,900
04/11/2019 0.995 0.995 - 1.03 0.995 +0.005 (0.51%) 1,217,900
01/11/2019 1.01 0.99 - 1.01 0.99 -0.005 (0.50%) 921,400
31/10/2019 0.99 0.985 - 1.01 0.995 +0.005 (0.51%) 1,050,900
30/10/2019 1.00 0.975 - 1.00 0.99 -0.005 (0.50%) 666,700
29/10/2019 1.06 0.995 - 1.06 0.995 -0.055 (5.24%) 2,216,000

Posted by Victor Yong > 2019-11-26 11:36 | Report Abuse

when they announce buyer or investor found for MSM,, tak tau how high it can go

Posted by Miz Raya Bloom > 2019-11-28 09:41 | Report Abuse

puh kanan puh kiri, apasal kau X naik

Posted by Miz Raya Bloom > 2019-11-28 15:21 | Report Abuse

FGV dah naik apahal MSM tak naik Grrrrrr

Posted by 8888_ > 2019-11-28 15:22 | Report Abuse

88 macam ID saya mana cukup? RM 1 pls.

Posted by 8888_ > 2019-11-28 15:26 | Report Abuse

BOD got follow Tun to Korea to sell sugar?

Posted by Miz Raya Bloom > 2019-11-28 15:26 | Report Abuse

BUY!!!

Posted by cicakman > 2019-11-28 22:14 | Report Abuse

Tommorow possibility partner with China news, it will rise.
Even FGV loosing 360 millions the share price up.

Posted by Miz Raya Bloom > 2019-11-29 10:01 | Report Abuse

2.00 RINGGIT please!

Posted by Miz Raya Bloom > 2019-11-29 11:39 |

Post removed.Why?

Posted by Banditos > 2019-12-01 16:17 | Report Abuse

joining d party

Posted by Miz Raya Bloom > 2019-12-02 12:14 | Report Abuse

pasal lembab ku bye bye

Posted by Loh Kok Wai W > 2019-12-02 20:23 | Report Abuse

drop to 0.50 !

Posted by Veda > 2019-12-03 09:45 | Report Abuse

Who want to sell at 0.50? I'm your buyer.

Posted by chkhooju > 2019-12-03 09:49 | Report Abuse

Come cn, don't be stupid. Don't show your stupidity here if you really are.

Posted by Victor Yong > 2019-12-09 20:06 | Report Abuse

Kuasa duopoli Dah dikurangkan demi rakyat :)

KUCHING (Dec 9): The liberalisation policy on sugar supply in Sarawak will not result in an immediate effect to the price of the commodity but will definitely benefit consumers in the long term, Domestic Trade and Consumer Affairs Deputy Minister Chong Chieng Jen said today.

He said the policy, however, broke up the monopolies held by certain companies which dictated the supply and price of sugar in the state in the past, thus lowering the costs of business and reducing inflation in the long run.

“The main difference between the present PH government and the past BN (Barisan Nasional) government is that the BN government creates monopolies, thereby increases the cost of business which ultimately leads to prices of goods increases,” he said in a statement.

The statement came following the revelation of 11 companies which had been given the permit to import sugar to the state recently through the liberalisation of supply policy.

“The Ministry of Domestic Trade and Consumer Affairs will continue with its liberalisation of sugar policy and open to applications by any F&B (food and beverages) manufacturers in Sarawak, (whether) big or small, and we don’t need connection like it used to be during BN’s time,” he added.

Posted by 8888_ > 2019-12-10 15:36 | Report Abuse

Why BOD no give good news?

Posted by 8888_ > 2019-12-11 10:23 | Report Abuse

If Tun ask Robert Kuok buy back MSM can he refuse?

Posted by 8888_ > 2019-12-11 10:26 | Report Abuse

Tun wants to stay longer as PM to sell MSM for govn benefits?

Posted by Miz Raya Bloom > 2019-12-11 10:35 | Report Abuse

jika RK beli balik MSM ringanlah beban FGV, jika ini terjadi SM masuk FGV dapat control MSM, so SM dapat control RK, aiseyman ini sudah macam cerita politik pulok

Posted by Miz Raya Bloom > 2019-12-11 10:36 | Report Abuse

on the bright side future business with China and many more places

Posted by 8888_ > 2019-12-11 10:39 | Report Abuse

Robert Kuok refuse to buy at 1.5-2 perhaps yes to 1-1.2?

Posted by Miz Raya Bloom > 2019-12-11 11:17 | Report Abuse

tu dah naik, ku Xleh lama sini, sebab ku Xde shares ini lagi, congrats to holders

Posted by 8888_ > 2019-12-11 12:25 | Report Abuse

Mana orang delete posts kata dia pandai trade?

Posted by 8888_ > 2019-12-11 12:31 | Report Abuse

SM sudah beli Media Prima baik suruh Robert Kuok(RK) beli balik MSM. Tun kena suruh RK baru ikut?

Posted by Miz Raya Bloom > 2019-12-11 12:32 | Report Abuse

dah naik, lepas ini awak tolong ku kat Puncak dan Scable

Posted by Kedahan > 2019-12-11 14:59 | Report Abuse

Ms Raya tak mau tolong. You tak tolong balik pun.

Posted by Kedahan > 2019-12-11 15:00 | Report Abuse

SM buy MSM if not FGV?