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Overview
Financial Highlight
HeadlinesBusiness Background Mega First Corp Bhd is an investment holding company. The group is organised into three main business segments as follows - Power, Resources, and Property. The Power segment builds, owns and operates power plants. The Resources segment is engaged in quarrying of limestone manufacturing and trading of lime products, calcium carbonate powder, and bricks. The Property segment is engaged in the property development and property investment. Its primary geographic markets are Malaysia, China, Laos, India, Australia, New Zealand and other countries. The majority of its revenue is derived from Laos.
  HengyuanZai concession can be terminated anytime, especially if a country goes into default 12/07/2022 12:30 PM Just88 The sovereign risk is real. It is very difficult to remain absolutely confident especially if you have a large investment in MFCB. No one including the management can tell you that it is absolutely safe now. 12/07/2022 4:06 PM HengyuanZai just88 I've seen many "gurus" out there hard selling mfcb fundamental . so no doubt many people have bought large amlunt of shares in this company. I'm always against the herd. good luck 12/07/2022 4:53 PM Just88 HengyuanZai, earnings from DSH is certain and sustainable. However, too dependent on one source of income is risky. DSH is solid under normal circumstances but Laos' currency has dropped substantially recently raising the question of earnings security. If Laos goes bankrupt like Sri Lanka, Laos is likely to delay payments to DSH. 12/07/2022 5:13 PM newbie8080 Everyone is speculating many things here. Anyway, every 3 months will have quarterly results. Any delay will be easily reflected and spotted in the quarter result since DSH earnings represent almost 50% of total revenue. 12/07/2022 5:33 PM  BursaVulture Just88, if I am not mistaken, 90% of their profit is from Hydro, which explains the low valuation because of the concentration and investor view this as risky. but the reward will be how they use the profit and diversify into other business. as for their earnings from hydro, it is 90% in USD and 10% in Laos Kip. All paid by Cambodia gov. As the contract mentioned, all money must be paid to DSH, no amount can be utilized by EDL for other reason than to pay DSH first. This means if Laos goes kaput, DSH will still receive the payment as the cambodian gov guarantees it. 12/07/2022 6:45 PM HengyuanZai I would say certain and sustainable with things I can't see with naked eyes . all we can see is just numbers and papers .diversify into other business .. so exactly what sector to classify them ? even banker see no valuation in this stock 12/07/2022 8:41 PM BursaVulture HengyuanZai, this is why I said it is a high risk stock with high reward. They are diversifying, and it will take time. If they managed to diversify, then you will be rewarded handsomely, if they failed, then you lose. simple. so, no need you to lecturer the investor and bankers, everybody knows this. 12/07/2022 8:50 PM BursaVulture It is impossible to build another new hydro, the growth have to come from other businesses. dont expect much earnings growth until 2026. 12/07/2022 8:52 PM HengyuanZai the herd still confident with this stock.. wait till they lose hope only enter 13/07/2022 12:26 PM BursaVulture HengyuanZai, people like you that talk bad about a certain stock thinks they can influence the price by commenting on i3. I find this amazing, reminds me of those in TopGlove and Serba. If your comment can move the market, then something is wrong with this market. If you want to buy, just buy and keep quiet. 13/07/2022 7:46 PM HengyuanZai lol the amount of active users in i3 has decreased drastically over the years. back then during trump era this forum is active like crazy.. 13/07/2022 11:28 PM LongTermInvestor8 How Singapore imports electricity fron Laos via Thailand & Malaysia [The Strait Times] https://i.redd.it/kjygtqjst3b91.jpg 14/07/2022 1:11 AM newbie8080 Laos Pushes Forward With Seventh Mekong River Dam Project https://thediplomat.com/2022/04/laos-pushes-forward-with-seventh-mekong-river-dam-project/ 15/07/2022 9:51 AM LongTermInvestor8 Why China Can't Let Laos Default https://menafn.com/1104535265/Why-China-Cant-Let-Laos-Default Answer: Location. Just like how China will not let North Korea collapse and by hook by crook will supply all the necessary things to the NK gov. The last thing China wants is a USA puppet state with missiles and military base along her borders. NK and Laos are buffer states, just like how Ukraine is Russia's buffer state. The other is China wants to link the high speed railway from Southern China all the way to Singapore. Laos is the gateway, now waiting for Thailand and Malaysia to join if both countries agree to do so, Singapore will just tag along as there are no railway lines to be build in their country, probably 1KM or 2KM or railway lines, more like a station, that's all. 16/07/2022 1:19 AM newbie8080 Mega First Corporation Berhad (“MFCB”) will be releasing its 2nd Quarter ended 30 June 2022 results after the market closes at 5.00 p.m. on 18 August 2022. A post results briefing will be held on 18 August 2022 at 6.00 pm. which is open to all shareholders and interested parties. For those who are interested to participate in the briefing, please register by clicking the link below: http://us06web.zoom.us/webinar/register/WN_xU44TyVNSUiyRLPmrJyY6w This announcement is dated 16 August 2022. 17/08/2022 10:16 AM snowball2000 Excellent QR, profit attributable to shareholders increased by 15.5% QoQ! 18/08/2022 6:02 PM snowball2000 Interim single tier dividend of 3.6sen declared, vs. 3.25sen in previous year.. 18/08/2022 6:03 PM snowball2000 "Trade receivable turnover for EDL remains within the normal range of 4-5 months." 18/08/2022 6:08 PM snowball2000 Investment in quoted shares, however, suffered 61.57million in fair value loss.... :( 18/08/2022 6:11 PM snowball2000 "We do not expect Lao's weak fiscal position, relatively high public debt and low foreign exchange reserves to significantly affect Don Sahong's trade receivable collection from EDL." 18/08/2022 6:13 PM snowball2000 "The Group's net debt declined 29.6% or RM154.1 million from RM520.2 million at the beginning of the year to RM366.1 million at the end of the reporting period." 18/08/2022 6:16 PM snowball2000 Appreciate it if anyone can update on info gathered from investor online briefing. Thanks! 18/08/2022 6:18 PM  DannyArcher Ssttoocckkbbiitt got updates, but this name and url banned by i3. Go to st0 ckbit website to download the notes 19/08/2022 8:27 AM newbie8080 Expected Q4 dividend to reach 3.8c Expected total for 2022 will be 7.4c At 10% dividend growth per annum, Expected total dividend for 2023 will be 8.1c Expected total dividend for 2024 will be 9c Expected total dividend for 2025 with 5th turbine contributing additional 20% capacity, will be 11.9c Any thoughts? 23/08/2022 9:40 AM BatteriesNotIncluded MFCB biggest problem is Laos, people are afraid of Laos going kaput. The other thing is most of their business are partnership or have an end-time to it, like the plantation and hydro will expire in X years time. What MFCB should do is use the money to buy up some plantation to generate more cash, building another hydro is not a good move as it will take too many years. Anyway, who am I to tell them what to do, they are smarter, I'll just invest and wait, hopefully more good news. 29/08/2022 6:44 PM newbie8080 @BatteriesNotIncluded Don Sahong took 4 years to built the 4 turbines, is given 25 years to operate before transferring to owner. With cost to built at RM1.7 bil, this hydropower able to generate at least RM459mil cashflow per annum based on 80% of the 256MW at USD6 cent kwh. By the way, plantation PAT% for most efficient planter range between 10%-15% due to fertilizer cost, labour,etc. These input cost tend to increase overtime as compared with hydropower where water is free resources and able to attain PAT% of 50% to 60% if the management cost control is good. 30/08/2022 2:35 PM DannyArcher Am not sure when don sahong was proposed, maybe in 2003 or 2004, environmental report for the dam was completed in 2006, construction starts around 2015 and completed in 2019. From proposal to generating power took almost 15 years. So, building a new dam is really out of the question. 30/08/2022 5:54 PM  InsiderShark Malaysia, Singapore complete electricity interconnector upgrade "In addition to mutual support, the interconnector is currently used for cross-border power trade under the Lao PDR-Thailand-Malaysia-Singapore Power Integration Project (LTMS-PIP). The LTMS-PIP imports up to 100 megawatts (MW) of renewable hydropower from Lao PDR to Singapore via Thailand and Malaysia using existing interconnections," the EMA said. https://www.theedgemarkets.com/article/malaysia-singapore-complete-electricity-interconnector-upgrade 26/10/2022 3:31 PM snowball2000 Good QR, another sterling quarter! Earlier fear of Laos' receivables seem to be overblown. Time to fly? 17/11/2022 6:04 PM newbie8080 Earnings already expected to do well in the last 1-2 quarters with heavier rain fall till end september. Probably, market sentiment is gloomy. 17/11/2022 6:59 PM  | | ||||||||||||||||||||||||||||||||||||||||||||||||
