MALAYSIA SMELTING CORPORATION

KLSE (MYR): MSC (5916)

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Last Price

2.21

Today's Change

+0.06 (2.79%)

Day's Change

2.16 - 2.21

Trading Volume

521,900

Financial

Show?
Last 10 FY Result
AQR T4Q 31/12/23 31/12/22 31/12/21 31/12/20 31/12/19 31/12/18 31/12/17 31/12/16 31/12/15 31/12/14 CAGR
Revenue 1,657,764 1,647,955 1,435,725 1,503,591 1,076,560 813,359 983,567 1,280,906 1,436,177 1,477,941 1,464,855 1,915,179 -3.14%
PBT 109,385 96,415 128,633 143,616 158,362 25,783 47,392 49,779 27,694 52,961 3,238 44,992 12.37%
Tax -28,730 -23,557 -31,417 -42,121 -39,876 -10,068 -13,916 -15,485 -11,767 -15,511 -8,038 -54,962 -6.02%
NP 80,654 72,858 97,216 101,495 118,486 15,715 33,476 34,294 15,927 37,450 -4,800 -9,970 -
-
NP to SH 65,662 58,615 85,051 98,358 118,058 16,101 33,477 34,297 15,928 37,452 -4,795 -9,865 -
-
Tax Rate 26.27% 24.43% 24.42% 29.33% 25.18% 39.05% 29.36% 31.11% 42.49% 29.29% 248.24% 122.16% -
Total Cost 1,577,109 1,575,097 1,338,509 1,402,096 958,074 797,644 950,091 1,246,612 1,420,250 1,440,491 1,469,655 1,925,149 -3.95%
-
Net Worth 751,799 751,799 755,999 718,200 579,599 396,000 372,000 348,000 291,000 281,639 241,000 233,999 13.90%
Dividend
AQR T4Q 31/12/23 31/12/22 31/12/21 31/12/20 31/12/19 31/12/18 31/12/17 31/12/16 31/12/15 31/12/14 CAGR
Div 134,400 130,200 58,800 29,400 29,400 4,000 8,000 8,000 4,000 7,989 - - -
Div Payout % 204.68% 222.13% 69.13% 29.89% 24.90% 24.84% 23.90% 23.33% 25.11% 21.33% - - -
Equity
AQR T4Q 31/12/23 31/12/22 31/12/21 31/12/20 31/12/19 31/12/18 31/12/17 31/12/16 31/12/15 31/12/14 CAGR
Net Worth 751,799 751,799 755,999 718,200 579,599 396,000 372,000 348,000 291,000 281,639 241,000 233,999 13.90%
NOSH 420,000 420,000 420,000 420,000 420,000 400,000 400,000 400,000 100,000 100,000 100,000 100,000 17.27%
Ratio Analysis
AQR T4Q 31/12/23 31/12/22 31/12/21 31/12/20 31/12/19 31/12/18 31/12/17 31/12/16 31/12/15 31/12/14 CAGR
NP Margin 4.87% 4.42% 6.77% 6.75% 11.01% 1.93% 3.40% 2.68% 1.11% 2.53% -0.33% -0.52% -
ROE 8.73% 7.80% 11.25% 13.70% 20.37% 4.07% 9.00% 9.86% 5.47% 13.30% -1.99% -4.22% -
Per Share
AQR T4Q 31/12/23 31/12/22 31/12/21 31/12/20 31/12/19 31/12/18 31/12/17 31/12/16 31/12/15 31/12/14 CAGR
RPS 394.71 392.37 341.84 358.00 256.32 203.34 245.89 320.23 1,436.18 1,479.84 1,464.86 1,915.18 -17.41%
EPS 15.60 13.96 20.30 23.40 28.30 4.00 8.40 8.60 15.90 37.50 -4.80 -9.90 -
DPS 32.00 31.00 14.00 7.00 7.00 1.00 2.00 2.00 4.00 8.00 0.00 0.00 -
NAPS 1.79 1.79 1.80 1.71 1.38 0.99 0.93 0.87 2.91 2.82 2.41 2.34 -2.87%
Adjusted Per Share Value based on latest NOSH - 420,000
AQR T4Q 31/12/23 31/12/22 31/12/21 31/12/20 31/12/19 31/12/18 31/12/17 31/12/16 31/12/15 31/12/14 CAGR
RPS 394.71 392.37 341.84 358.00 256.32 193.66 234.18 304.98 341.95 351.89 348.78 456.00 -3.14%
EPS 15.60 13.96 20.30 23.40 28.30 3.83 7.97 8.17 3.79 8.92 -1.14 -2.35 -
DPS 32.00 31.00 14.00 7.00 7.00 0.95 1.90 1.90 0.95 1.90 0.00 0.00 -
NAPS 1.79 1.79 1.80 1.71 1.38 0.9429 0.8857 0.8286 0.6929 0.6706 0.5738 0.5571 13.90%
Price Multiplier on Financial Quarter End Date
AQR T4Q 31/12/23 31/12/22 31/12/21 31/12/20 31/12/19 31/12/18 31/12/17 31/12/16 31/12/15 31/12/14 CAGR
Date 30/09/24 30/09/24 29/12/23 30/12/22 31/12/21 31/12/20 31/12/19 31/12/18 29/12/17 30/12/16 31/12/15 31/12/14 -
Price 2.58 2.58 2.03 1.53 3.25 1.43 0.845 0.70 3.34 3.93 2.48 2.55 -
P/RPS 0.65 0.66 0.59 0.43 1.27 0.70 0.34 0.22 0.23 0.27 0.17 0.13 18.28%
P/EPS 16.50 18.49 10.02 6.53 11.56 35.53 10.10 8.16 20.97 11.43 -51.72 -25.85 -
EY 6.06 5.41 9.98 15.31 8.65 2.81 9.90 12.25 4.77 8.75 -1.93 -3.87 -
DY 12.40 12.02 6.90 4.58 2.15 0.70 2.37 2.86 1.20 2.04 0.00 0.00 -
P/NAPS 1.44 1.44 1.13 0.89 2.36 1.44 0.91 0.80 1.15 1.41 1.03 1.09 0.40%
Price Multiplier on Announcement Date
AQR T4Q 31/12/23 31/12/22 31/12/21 31/12/20 31/12/19 31/12/18 31/12/17 31/12/16 31/12/15 31/12/14 CAGR
Date 15/11/24 15/11/24 15/02/24 17/02/23 18/02/22 19/02/21 20/02/20 22/02/19 05/03/18 27/02/17 19/02/16 24/02/15 -
Price 2.26 2.26 2.07 2.10 4.08 2.80 0.85 0.85 3.10 4.09 2.31 2.83 -
P/RPS 0.57 0.58 0.61 0.59 1.59 1.38 0.35 0.27 0.22 0.28 0.16 0.15 16.85%
P/EPS 14.46 16.19 10.22 8.97 14.51 69.56 10.16 9.91 19.46 11.90 -48.18 -28.69 -
EY 6.92 6.18 9.78 11.15 6.89 1.44 9.85 10.09 5.14 8.41 -2.08 -3.49 -
DY 14.16 13.72 6.76 3.33 1.72 0.36 2.35 2.35 1.29 1.96 0.00 0.00 -
P/NAPS 1.26 1.26 1.15 1.23 2.96 2.83 0.91 0.98 1.07 1.47 0.96 1.21 -0.56%

PBT = Profit before Tax, NP = Net Profit, NP to SH = Net Profit Attributable to Shareholder, Div = Dividend, NP Margin = Net Profit Margin, ROE = Return on Equity, NOSH = Number of Shares, RPS = Revenue per Share, EPS = Earning Per Share, DPS = Dividend Per Share, NAPS = Net Asset Per Share, EOQ = End of Quarter, ANN = Announcement, P/RPS = Price/Revenue per Share, P/EPS = Price/Earning per Share, P/NAPS = Price/Net Asset per Share, EY = Earning Yield, DY = Dividend Yield.

NOSH is estimated based on the NP to SH and EPS. Div is an estimated figure based on the DPS and NOSH. Net Worth is an estimated figure based on the NAPS and NOSH.

Div Payout %, NP Margin, ROE, DY, QoQ ⃤ & YoY ⃤ figures in Percentage; RPS, EPS & DPS's figures in Cent; and NAPS's figures in Dollar.

All figures in '000 unless specified.

Discussions
8 people like this. Showing 50 of 4,982 comments

GreenMinerMSC

INSIDERS AND MAJOR SHAREHOLDERS BUYING STOCK IS A GOOD SIGN

2 months ago

GreenMinerMSC

LMEselect Tin 3 Month, USD/mt
Latest:33,925
+46 (+0.14%)

2 months ago

GreenMinerMSC

LMEselect Tin 3 Month, USD/mt
Latest 34,070
+265 (+0.78%)

2 months ago

GreenMinerMSC

Today gone Ex for 7 sen dividend but stock has dropped much more than that🙄. Now doing 2.45 down 20 sen !! Low was 2.35 down 30 sen !!🙁

2 months ago

Fundamental Trader

Potential short squeeze

2 months ago

kl_guy

will the silver up trend come over to msc ?

2 months ago

serbatipu

Is tin also impacted by carbon tax ?

2 months ago

Kyuki0509

GreenminerMSC

The stock has been dropping after the ex dividend date.

Do you still believe it’s a good stock?

2 months ago

GreenMinerMSC

Somebody has been selling it down everyday . The dividend was 7 sen but it has fallen 40 sen from ex date on 9th Oct, with 30 sen of the drop coming on the 9th itself. Not sure what the reasons are but the share price could be tracking Tin which has recently dropped from 34k to 31k . The 3Q 24 results are round the corner , probably around the 9th of Nov. 3Q 24 should be better than 3Q 23 ($9 mil) and 2Q 24 ($17 mil ).

2 months ago

Kyuki0509

I regret to have bought this stock after having read your recommendation notes

2 months ago

GreenMinerMSC

Last year , MSC reported on Friday 17th Nov 23. This year probably on Friday 15th Nov 24

1 month ago

diuleiloumei

Time to back to 2.5, results coming soon

1 month ago

Hansek

comeone back to 3.00

1 month ago

Hansek

Q3 average tin price 29-30k
msc price should be above 2.45

1 month ago

Hansek

Faster open ler, why hiding , suppose up now

1 month ago

Saw PW

cirit birit. Want to buy below 2

1 month ago

diuleiloumei

Any insider news?

1 month ago

GreenMinerMSC

Tin is 29,925.

1 month ago

serbatipu

Supposed tomorrow qr

1 month ago

Hansek

today qr, faster buy

1 month ago

Cnlim

faster buy faster die

1 month ago

ckwee168

what a surprise .. 2nd interim special dividend of 17 cents declared for the quarter .. taking 9 mths dividend payout to 24 cents thus far ... a dividend bonanza year indeed .. can expect another 7 cents final dividend payment next quarter :)

1 month ago

Hansek

sori la monday kita fly lor, already remind you buy still want show lcly with me

1 month ago

KClow

Limit up.lai lai

1 month ago

Ahthau

Good declaration to avoid extra 2 % tax over rm100 k income next year. Hopefully other listed companies will follow. Thanks Directors.

1 month ago

hw0706

Becareful

1 month ago

KClow

Hw0706
U should be careful n put ur money in fd rather than coming here la..😂
U wan careful.use condom
U in the wrong place

1 month ago

StarOfTheBull

The company rarely did this in the past, apparently 24c dividend to be paid this year is to avoid 2% tax on dividend next year. Total dividend exceeded this year 9 months accumulated profit can also mean year 2025 profit is brought forward to this year as dividend.

1 month ago

ckwee168

i bet to differ that this special dividend payout is to bring forward the dividend from 2025, though i have no privy to the insider's news; if we dissect its YTD 2024 earnings result, the key drag on its earnings is obviously from its smelting division including a loss in Q3 which management attributed to foreign exchange losses & lower smelting performance, taking the shine away from its stellar tin mining division; before commissioning of its new smelting facility at Pulau Indah late last year, smelting division generated at healthy PBT of RM60-70 million a year via its obsolete plant in Butterworth; but since running both plants concurrently, smelting division had struggled to make profit over the last 3 quarters due to higher overheads & manpower to run both plants in parallel; i would expect the PBT of the smelting division to normalize back to RM60-70 million a year (if not better) once the old Butterworth plant is completely decommission before end of 2025; and assuming that tin price can hold at the current level, we can expect an additional operating cash generation of RM60-70 million next year to support its generous dividend payout in the future (i.e. management has reiterated few times that it can achieve cost savings of 30% once the old Butterworth plant is being decommissioned but stop short of providing the actual figures); and i wouldn't discount entirely that the dividend is a foregone case next year ya .. in fact, i'm seeing a strong run to its share price once the RM60-70 million smelting business margins return :)

1 month ago

KClow

Good agree.
But the key is what they going to do with butterworth plant??
Its a gold mine that land..
Worth how much???

1 month ago

KClow

Once close whats the plan amd how much will we shareholders get...😁

1 month ago

KClow

If its going to be for development will they sell it.
? Or develop it...tin mine to gold mine...
WHAT U PEOPLE THINK..
Rm2.5 per share for butterworth land??

1 month ago

KClow

Still think msc is worth a mere rm2.30?????

1 month ago

KClow

560k sq feet in butterworth worth how much u think?
Freehold land.
Valued in 2018@78mil
Now ?

1 month ago

KClow

Once closed in 2025 revalue in 2026 how much u think
For development how much can return?😁

1 month ago

KClow

Think for yourself how much is msc worth?

1 month ago

fesizabu123

MSC ($2.40) - Announces an interim dividend of 7 sen. Ex on 9.10.24.
The interim dividend of 7.0 sen per share translates to a dividend payout of
RM29.4 million. This is 84% of the company's 1st Half24 earnings !! This is really telling us something. Very very few companies would pay out almost all their earnings as dividends UNLESS they are confident that going forward the earnings are going to be strong. In a silent way, they have telegraphed that they are confident that 2H24 earnings are finally going to be significantly better that 1H24 which was only $35 mil.

1 month ago

mf

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1 month ago

Mak_kiah

MSC investors, congratulations. Revenue stable ,sales increasing .that is what we want to see.

1 month ago

zildjian

29/11/2024 msc price will back to square after ex ?

1 month ago

Plantermen

This stock hardly moved. Unless certain positive news flow. With the special 17 sen dividend announcement still stick at this price range. Need somebody to play up

1 month ago

Hansek

die die wait until 29 Nov 2024

1 month ago

ooilinghoaki3

only one week more to wait.
I too will wait
too

1 month ago

ooilinghoaki3

in fact should top up

1 month ago

ooilinghoaki3

up

1 month ago

Seek

Green miner, smelting segment still underperform. Mining very good. 17cts special dividend is superb! Ringgit weakening compensates for the tin price drop in usd. Will smelting improve in this quarter?

1 month ago

GreenMinerMSC

MSC is not having 3Q24 results briefing. They decided to do 2 times a year from now onwards. So no update on why smelting side is still not firing. The mining side is doing good. We will just have to depend on their next update in mid Feb 25 when the results come out to see if the smelter side is pulling its own weight. But the heavy selling from the ex date of the 7 sen dividend on 9th Oct 24 , when stock fell from 2.70 to 2.30 in 3 days, should have alerted us that someone was taking the view that 3Q24 results will disappoint.

1 month ago

Seek

Thanks Green miner.

3 weeks ago

GreenMinerMSC

Yesterday and today at matching time - 350k buyer surfaced at 2.25

2 weeks ago

Saw PW

why it gaps down

1 day ago

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