Anuar...this is common with some big ipo. Fundamentally it is a good share to hold with good div policy. Some big players pushing price down to clear off shares held by retailers n those under miti allocation. Add more if u have funds to everage out and make more money (capital gains n div) once the price move up.
KUALA LUMPUR: Alliance Research has maintained its Buy call on MMC with a target price of RM4.95 based on 20% discount to sum of parts.
In a note on Wednesday, the research house said MMC is currently trading at 57% discount to our SOP value.
It has adopted the strategy of listing its key businesses, starting with Gas Malaysia in 2012 and Malakoff in 2015, to unlock value. This should provide at least a floor value for MMC.
Based on the market value of both Gas Malaysia and Malakoff, the market is assigning only RM2.3bil to the unlisted businesses such as ports, construction, sole airport in Johor, water concession, and 4,556 acres of land in Johor.
"We understand its port business will be the next to be listed," it said.
MMC booked RM96mil net profit in 1Q15 inclusive of profit from discontinued operations (Malakoff).
The better result was due to continued improvements in Energy & Utilities, where 1Q15 EBIT jumped 38% y-o-y to RM400mil.
This was led by full recovery at Tanjung Bin power plant and contribution from Malakoff Wind Macarthur and Port Dickson Power. The expansion plans for Malakoff should continue to drive the recovery of Energy & Utilities earnings
see at 21/5 they pull down the price below 1.7 only will rebound strong break up to 1.85 . 10/6 untill 15/7 something Blocked at rm1.8 . now the price pull down 1.65 also will strong rebound break up the road block 1.80 . so this time will break up to RM1.9 >> .
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....
number12
281 posts
Posted by number12 > 2015-07-27 13:11 | Report Abuse
support 1.70, next support 1.65...