MAGNI-TECH INDUSTRIES BHD
KLSE (MYR): MAGNI (7087)
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Last Price
2.35
Today's Change
+0.02 (0.86%)
Day's Change
2.27 - 2.35
Trading Volume
635,000
Analysis
Price Target
A price target is an analyst's projection of a share's future price.
Average Target Price, Price Call and Upside/Downside here are derived from Price Targets in the past 6 months.
Last Price
2.35
Avg Target Price
2.69
Upside/Downside
+0.34 (14.47%)Price Call
0
SELL
0
HOLD
4
BUY
| Date | Open Price | Target Price | Upside/Downside | Price Call | Firm | View | Action |
|---|
Discussions
7 people like this. Showing 50 of 5,202 comments
The stock rose above all 20-day, 50-day and 200-day Moving Average (MA) with higher trading volume. The positive move is supported by Quarter 1 FY 2024 earnings announcement on 11-Sep with Q1 earnings +27% QoQ and 36% YoY. This is a sign of further gains due to positive technical breakouts and improved fundamentals.
Both the MACD and RSI are rising, suggesting an increase in buying momentum.
The strategy is to long Magni. This breakout could drive prices upward, targeting historical resistance levels at RM2.10 and RM2.18.
2023-10-25 10:17
This company pays dividend every quarter:
11-Sep-2023 25-Sep-2023 DIVIDEND Interim Dividend RM 0.0280
26-Jun-2023 10-Jul-2023 DIVIDEND Fourth Interim Dividend RM 0.0250
08-Mar-2023 24-Mar-2023 DIVIDEND Third Interim Dividend RM 0.0200
12-Dec-2022 27-Dec-2022 DIVIDEND Second Interim Dividend RM 0.0230
12-Sep-2022 27-Sep-2022 DIVIDEND Interim Dividend RM 0.0220
2023-10-25 13:46
Directors and owner keep on buying :
Name Details of Changes
Date Type No. of Shares Price
MR TAN POAY SENG 04-Oct-2023 Acquired 80,000 1.949
MR TAN POAY SENG 22-Sep-2023 Acquired 189,300 2.008
MR TAN POAY SENG 21-Sep-2023 Acquired 52,000 1.984
TAN SRI DATO' SERI TAN KOK PING 19-Sep-2023 Acquired 80,000 2.010
MR TAN POAY SENG 11-Sep-2023 Acquired 92,200 1.920
MR TAN POAY SENG 08-Sep-2023 Acquired 78,500 1.905
MR TAN POAY SENG 07-Sep-2023 Acquired 55,000 1.914
MR TAN POAY SENG 05-Sep-2023 Acquired 34,900 1.919
MR TAN POAY SENG 04-Sep-2023 Acquired 56,100 1.910
MR TAN POAY SENG 30-Aug-2023 Acquired 182,000 1.900
MR TAN POAY SENG 28-Aug-2023 Acquired 109,000 1.920
2023-10-26 12:21
It is a good company but luck is not on their side. Market is not good.
Although since 2017/7/21 Tan family has spent about 80M in buy back the company shares.
https://news.seehua.com/post/1087806
Just be careful
2023-12-27 09:47
Tqsm for sharing ..don’t have own branding n depend on orders Fr overseas …
2023-12-27 11:00
2 Inv and Tan L C
Magni tech has 2 main business segments, Garment and Packaging. In the garment segment, Magnitech is the long term mid and up market garment & apparel maker for world famous brand names including Nike. I think business volumes are related to world market demand for the mid to upper market brand name apparels. Magni tech is not making low end clothing wears.
2023-12-29 10:11
NTA per share is about RM1.95. Company has a net cash of about RM450 million which is about RM1.1 per share.
2023-12-29 10:29
Tqsm . Is it single customer Nike only? NTA can be a value trap .. Net cash is good provided they can use to expand the business..
2023-12-29 16:06
Diam Diam mari. Magni is sitting at RM477 million net cash. The catalyst will be coming Paris Olympic.
2024-03-08 11:40
Coming qtr may b good as the MD Tan keep buy back …hope give good dividend to shareholders
2024-03-08 16:36
A bullish gap up in the candle formation touching a high of 2.22. A resounding YES from investors!
2024-03-19 16:38
Buy share when no one has noticed and when it is undervalued. What stock next ?
2024-03-19 20:24
Solid company, from many financial indicators perspective and with relatively high dividend payout too.
2024-03-25 20:45
Good qtr n coming decent dividends..cash rich co n hope co distribute higher to us
2 weeks ago
many reason to top up this counter
1) Olympic 2024
2) Peer industry QR (techbase)
3) Next week QR announcement
4) Substantial Shareholder collecting non stop
Any other positive/negative thought guys?
1 week ago
not a high profile stock in bursa, continue to hold, so many positive factors to drive this stock up from the fundamental perspective.
5 days ago
Dear All,
One of the items that stands out in Magni's balance sheet is its receivables. In last year's Annual Report, this amounted to RM151 million (Year 2022: RM112 million). The company recognizes this as one of the two major risks it faces, but says the risks are mitigated, presumably due to their long-standing relationship with the customer. On this, I have two questions.
1. Over 75% of the trade receivables are from just one customer (who buys the garments to sell worldwide), and yet in 2023, some RM16.4 million are classified as past due. Did all of these past dues arise from Magni's packaging business? Of particular concern is the RM1.8 million that is past due by more than 60 days.
2. Receivables also include sundry receivables, which have increased drastically from the previous year, rising from RM4.7 million to RM41.3 million. Does anyone know what this is? How did this arise?
Thanks in advance for your response.
P.S.: The receivables have since increased to RM179 million as of January 31, 2024.
5 days ago
For Q2, check the AGM minutes and key matters discussed at its website. Under corporate governance.
The company explains “These are prepayments to suppliers which have been settled
after the end of FYR 2023.”
However, when I refer to Note 9, there is a separate item for prepayments. I don’t understand the difference.
4 days ago
@observatory - thanks for your input. I checked the document you mentioned, and googled for the difference between the two items, and this is what got:
Sundry Receivables
Definition: Small, miscellaneous amounts owed to the company by various parties for different reasons.
Examples: Refunds, small debts, reimbursements, etc.
Prepayments
Definition: Amounts paid in advance for goods or services that the company will receive in the future.
Examples: Advance payments for goods, services, rent, insurance, etc.
Anyway, in the latest Q, the receivables have reduced to RM123.5 mil from RM151.4 mil a year ago. So, this is no longer a concern.
4 days ago
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Ketua Menteri Pulau Pinang Kon Yeow saman Tan Sri Tan Kok Ping, SPRM digesa buka semula kes taikun judi ini
https://thecorporate-secret.com/blog/2023/10/20/ketua-menteri-pulau-pinang-kon-yeow-saman-tan-sri-tan-kok-ping-sprm-digesa-buka-semula-kes-taikun-judi-ini/
Tiada siapa boleh lari dari taikun judi Tan Sri Tan Kok Ping yang menguasai PCCC. Kok Ping sentiasa menganggap dia lebih berkuasa dari Ketua Menteri. Dulu mana-mana tanah pun Kok Ping beli bawah harga pasaran bersama anaknya Tan Poay Seng. Pernah disiasat SPRM terlibat sindiket judi haram, elak cukai, operasi kelab malam, rasuah penguatkuasa dan banyak lagi…Tapi kini Chow Kon Yeow lawan Tan Kok Ping…
2023-10-20 05:12