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> Malaysia Marine and Heavy Engineering Holding, IPO Price RM3.61

junjie
post Oct 8 2010, 01:36 AM


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QUOTE
The first installment of Petroliam Nasional Bhd's (Petronas) eagerly awaited offerings, the listing of Malaysia Marine and Heavy Engineering Holdings Bhd (MHB), will see the country's biggest initial public offering (IPO) for the year yet raising some RM2 billion.

The IPO consists of a public issue of 262 million shares for institutional and retail investors, an allocation by parent MISC Bhd to French oilfield services group, Technip SA, and an offer for sale of MHB shares by MISC.

Only about RM946 million of the proceeds will go to MHB, while MISC will pocket the remainder.

The proceeds will be used for the expansion and upgrading of its yards in Pasir Gudang in Johor and Turkmenistan.

MHB's listing is part of the government's plan to woo more foreign investors to Bursa Malaysia. Petronas is also due to list its entire petrochemical business in a much bigger IPO.

Retail investors have been offered shares at RM3.61 apiece.

Ultimately, the share price (even for the retail portion) will be determined by the book-building exercise to be undertaken by Maybank Investment Bank Bhd (MIB), Credit Suisse and JPMorgan which started yesterday.

The management of MHB did not comment on whether it had capped the share price offered to institutional investors at RM3.80.

"We are unable to provide you with a range," MIB head of equity capital markets director Rajiv Vijendran said.

While the price-to-earnings (PE) ratio of MHB appears pricey at 21 times compared to those of its peers like Keppel Corp and SembCorp Marine Ltd at 12.05 times and 11.73 times respectively according to Bloomberg data, analysts caution against such snap judgements.

They say the historical figures do not take into account MHB's tax benefits and forecast earnings need to be done first before a "proper" PE can be derived.

The government recently accorded the company with a tax break, which will give an additional 100 per cent tax allowance on its investments under its yard optimisation programme.

Past recipient of this tax break was AirAsia Bhd.

MHB plans to invest RM2.7 billion in its yard optimisation programme, which started in 2006 and runs until 2014. So far, some RM584.3 million has been invested in the programme.

The retail and institutional offers close on October 14, the same day when the price of the shares for both investors will be decided.

MHB plans to list on the Main Market of Bursa Malaysia Bhd on October 29 2010.



Whatt do you think about this counter?
Another GLC is going to listed in KLSE...

Maybe i will try my luck this time :P


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zamans98
post Oct 9 2010, 02:01 AM


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did a quick scan at the statement of accounts. not bad, impressive though for a GLC.

I - as usual will wait for the listing day. Absolute no TRUST on IPO since MAXIS goes live.
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Polaris
post Oct 9 2010, 02:30 PM


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Speaking of Airasia, did it ever go up after the ipo?
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Jurlique
post Oct 9 2010, 03:22 PM


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QUOTE(Polaris @ Oct 9 2010, 02:30 PM)
Speaking of Airasia, did it ever go up after the ipo?
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Maybe you can check the history from Google Finance??
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Oracles99
post Oct 9 2010, 11:33 PM


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QUOTE(Jurlique @ Oct 9 2010, 03:22 PM)
Maybe you can check the history from Google Finance??
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Yes, It did. I have 10 lots from IPO n I make a profit from it
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[gs]JackMin
post Oct 11 2010, 11:25 PM


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hey guys, im jz wondering can i use maybank online under my name to buy for 4 different type of CDS a/c, namely under my wife, wife's 2nd cds a/c, dad and my own cds a/c?
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chemistry
post Oct 12 2010, 12:36 AM


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QUOTE(gsJackMin @ Oct 11 2010, 11:25 PM)
hey guys, im jz wondering can i use maybank online under my name to buy for 4 different type of CDS a/c, namely under my wife, wife's 2nd cds a/c, dad and my own cds a/c?
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No way. The account holder's name must match the CDS a/c name.


Added on October 12, 2010, 12:42 amExcerpt from THE EDGE:

"Of the 262 million new shares, 184 million shares would be issued to approved Bumiputera investors, 24 million shares to MISC shareholders and 22 million shares to eligible directors and employees. Another 16 million shares would be offered to the public (Bumiputera) and 16 million (non-Bumiputera)."

Given that a large portion is allocated for high-chance categories, I bet this IPO is gonna be VERY SUCCESSFUL tongue.gif

This post has been edited by chemistry: Oct 12 2010, 12:42 AM
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shelynssl
post Oct 12 2010, 10:54 AM


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QUOTE(zamans98 @ Oct 9 2010, 02:01 AM)
did a quick scan at the statement of accounts. not bad, impressive though for a GLC.

I - as usual will wait for the listing day. Absolute no TRUST on IPO since MAXIS goes live.
*
I made about 20% profit from MAXIS bought with IPO price + all the dividends. I thought it's a good return.

MMHE is wholly owned by MISC and 90% of their business are from Petronas. Technip has just recently taken up 8% stack. I think it is worth buying with IPO price, furthermore, its corporate price is 3.80.
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rayzel
post Oct 12 2010, 02:24 PM


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worth buying.. dont think too much...
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masterjedi
post Oct 12 2010, 02:39 PM


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QUOTE(rayzel @ Oct 12 2010, 02:24 PM)
worth buying.. dont think too much...
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yes,,yesterday apply the ipo thru maybank2u.. good company.. for long term investment
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JinXXX
post Oct 12 2010, 03:41 PM


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does different brokers have difference chances of getting the IPO ?

or how they select one ? if you get or not..


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rayzel
post Oct 12 2010, 04:37 PM


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No idea.. hopefully equal chance of being selected.. just try your luck la..
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htt
post Oct 12 2010, 05:26 PM


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QUOTE(JinXXX @ Oct 12 2010, 03:41 PM)
does different brokers have difference chances of getting the IPO ?

or how they select one ? if you get or not..
*
Equal chance one.
Ballot loh. Kind of lucky draw.
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Darkmage12
post Oct 12 2010, 07:25 PM


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should be oversubscribed by around 20-25 times
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Oracles99
post Oct 12 2010, 09:48 PM


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Another big one Petronas Chemical is coming. If unsuccessful can try this one lah.
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Darkmage12
post Oct 12 2010, 10:16 PM


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QUOTE(Oracles99 @ Oct 12 2010, 09:48 PM)
Another big one Petronas Chemical is coming. If unsuccessful can try this one lah.
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We'll see how this goes first
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amalthea
post Oct 13 2010, 01:19 PM


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time to buy MISC this is what i think
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tanch78
post Oct 14 2010, 07:43 AM


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Gentle reminder: IPO subscription closing date is today, ie. Oct 14 at 5pm sharp!
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ngkf
post Oct 14 2010, 09:12 AM


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Malaysia Marine IPO closing today said to be oversubscribed 15x for institution investors

Malaysia Marine IPO closing today oversubscribed 15x
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JinXXX
post Oct 14 2010, 11:25 AM


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QUOTE(ngkf @ Oct 14 2010, 09:12 AM)
Malaysia Marine IPO closing today said to be oversubscribed 15x for institution investors

Malaysia Marine IPO closing today oversubscribed 15x
*
oversubscribed 15x for institution investors

well institution investors seem to give the right signal ...

if they are interested.. im interested too tongue.gif
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idunnolol
post Oct 14 2010, 11:55 AM


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Whats the PE for this IPO?
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tineagle
post Oct 14 2010, 04:22 PM


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any idea when the results will be out?
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JinXXX
post Oct 14 2010, 04:43 PM


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Listing Schedule
Prospectus Date 06/10/2010
Opening of Applications 06/10/2010
Closing of Applications 14/10/2010
Tentative Balloting Date 18/10/2010
Tentative Allotment Date 27/10/2010
Tentative Listing Date 29/10/2010
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tineagle
post Oct 14 2010, 06:31 PM


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nice, thanks
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asambuffett
post Oct 14 2010, 07:16 PM


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QUOTE(idunnolol @ Oct 14 2010, 11:55 AM)
Whats the PE for this IPO?
*
pe 21... sweat.gif

hw, because i got blue form (misc shareholder) & its a "petronas" subsidiary & read so many peolpe like the stock & the Star also said oversubcribe 15x ... i just TRY to sapu la a few lots.. wink.gif

This post has been edited by asambuffett: Oct 14 2010, 07:19 PM
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GregPG01
post Oct 15 2010, 12:40 AM


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14/10/2010 13:42 DJ MMHE Institutional IPO Tranche Priced At MYR3.80/Share-Source
14/10/2010 13:32 *DJ MMHE Retail IPO Price Set At MYR3.61/Share-Source
14/10/2010 13:31 *DJ MMHE Institutional IPO Tranche 25X Over-Subscribed-Source
14/10/2010 13:30 *DJ MMHE Institutional IPO Tranche Priced At MYR3.80/Share-Source
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amalthea
post Oct 15 2010, 08:46 AM


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missed the boat
i will speculate on first day
what goes up will come down
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firee818
post Oct 15 2010, 08:59 AM


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QUOTE(amalthea @ Oct 15 2010, 08:46 AM)
missed the boat
i will speculate on first day
what goes up will come down
*
Maybe u are lucky to miss the boat! I don't think it was so good.
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Oracles99
post Oct 16 2010, 02:25 PM


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QUOTE(asambuffett @ Oct 14 2010, 07:16 PM)
pe 21...  sweat.gif

hw, because i got blue form (misc shareholder) & its a "petronas" subsidiary & read so many peolpe like the stock & the Star also said oversubcribe 15x ... i just TRY to sapu la a few lots..  wink.gif
*
21 is the historical PE. What is its prospective PE?
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sjz
post Oct 16 2010, 03:56 PM


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institutional price is RM3.80/share some more oversubscribe for 25x...
means this counter is really impressive...
it's impressive not because of its management or facility but for bearing the name of GLC & wholly subsidiary of MISC which in terms is the subsidiary of Petronas....
and foreign investor like Technip decided to invest too.... tongue.gif
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masterjedi
post Oct 18 2010, 09:32 AM


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QUOTE(sjz @ Oct 16 2010, 03:56 PM)
institutional price is RM3.80/share some more oversubscribe for 25x...
means this counter is really impressive...
it's impressive not because of its management or facility but for bearing the name of GLC & wholly subsidiary of MISC which in terms is the subsidiary of Petronas....
and foreign investor like Technip decided to invest too.... tongue.gif
*
ya.. is true.. hope can get the ipo
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sjz
post Oct 18 2010, 09:39 AM


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today is balloting day... tongue.gif
whoever got from ipo is very lucky...
as technip pay RM3.87/shares, a premium over institutional price as they bought directly from MISC... smile.gif
why a big company like technip willing to pay so much for a GLC is it's like our well-known GLC eg. POS & TENAGA...u know their staff's attitude...
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Darkmage12
post Oct 18 2010, 11:19 AM


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QUOTE(sjz @ Oct 16 2010, 03:56 PM)
institutional price is RM3.80/share some more oversubscribe for 25x...
means this counter is really impressive...
it's impressive not because of its management or facility but for bearing the name of GLC & wholly subsidiary of MISC which in terms is the subsidiary of Petronas....
and foreign investor like Technip decided to invest too.... tongue.gif
*
erm not oversubscribed by 27.7x?
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drsaleh
post Oct 18 2010, 11:43 AM


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manyak lugi la.. tak sempat nak apply IPO..

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tineagle
post Oct 18 2010, 11:44 AM


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QUOTE(drsaleh @ Oct 18 2010, 11:43 AM)
manyak lugi la.. tak sempat nak apply IPO..
*
open market awaits you, no worries. It will still be a great bargain for long term investment.
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Darkmage12
post Oct 18 2010, 12:41 PM


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QUOTE(drsaleh @ Oct 18 2010, 11:43 AM)
manyak lugi la.. tak sempat nak apply IPO..
*
maybe you will pick it up cheaper in the market? that time you won't say manyak lugi la whistling.gif
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sjz
post Oct 18 2010, 05:02 PM


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QUOTE(Darkmage12 @ Oct 18 2010, 12:41 PM)
maybe you will pick it up cheaper in the market? that time you won't say manyak lugi la whistling.gif
*
haha....
not this GLC...
as technip buying at RM3.871...
so what to worry?? brows.gif brows.gif
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asambuffett
post Oct 18 2010, 08:18 PM


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QUOTE(Oracles99 @ Oct 16 2010, 02:25 PM)
21 is the historical PE. What is its prospective PE?
*
glance thru but cant find any thing on future earnings.. only proforma for consolidated balance sheet. hmm.gif
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StevenL
post Oct 18 2010, 10:00 PM


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How or when do we know if we get it??? A week from now ie the money return to your bank account assuming if i submitted via eShare (Maybank)?
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Oracles99
post Oct 18 2010, 10:08 PM


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QUOTE(StevenL @ Oct 18 2010, 10:00 PM)
How or when do we know if we get it??? A week from now ie the money return to your bank account assuming if i submitted via eShare (Maybank)?
*
Tomorrow perhaps. Unsuccessful portion of money will be credited back into yr account.
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tengster
post Oct 19 2010, 10:29 AM


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have they start reversing the fund for e-share IPO application?
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Darkmage12
post Oct 19 2010, 10:47 AM


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Balloting just over right? Need few days time
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prepaidcelcom
post Oct 19 2010, 02:17 PM


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QUOTE(Oracles99 @ Oct 18 2010, 10:08 PM)
Tomorrow perhaps. Unsuccessful portion of money will be credited back into yr account.
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M2u eshare status still pending....what does it mean?unsuccessful
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smartly
post Oct 19 2010, 03:49 PM


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QUOTE(prepaidcelcom @ Oct 19 2010, 02:17 PM)
M2u eshare status still pending....what does it mean?unsuccessful
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pending means still got chance tongue.gif
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prepaidcelcom
post Oct 19 2010, 04:03 PM


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QUOTE(smartly @ Oct 19 2010, 03:49 PM)
pending means still got chance  tongue.gif
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chance to get back money from banker
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Oracles99
post Oct 19 2010, 07:04 PM


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QUOTE(prepaidcelcom @ Oct 19 2010, 02:17 PM)
M2u eshare status still pending....what does it mean?unsuccessful
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Balloting is today, I suppose. Give them a few days
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tengster
post Oct 19 2010, 07:14 PM


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QUOTE(Oracles99 @ Oct 19 2010, 07:04 PM)
Balloting is today, I suppose. Give them a few days
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Balloting was yesterday. Either tonight after 9pm or tomolo 9pm....fund reversed or strike or pending status.......will appear....

good luck everyone tongue.gif
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StevenL
post Oct 19 2010, 07:16 PM


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Hoped everyone here gets some.............good luck guys!
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Oracles99
post Oct 19 2010, 07:19 PM


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Good luck to everybody!
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tengster
post Oct 19 2010, 07:33 PM


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Now is 730pm. Results are OUT. Please check e-share status. Mine all unsuccessful.
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webby88
post Oct 19 2010, 07:55 PM


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Not successful too.
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raZorblAde
post Oct 19 2010, 08:16 PM


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Unsuccessful too but my fund hasn't been auto reversed into my account, anyone facing that problem?
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ngkf
post Oct 19 2010, 08:25 PM


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ballot results available 7.76 times oversubscribed for public portion (inclusive of 50% bumi portion)

check your IPO application status online

Malaysia Marine IPO: Public Portion oversubscribed by 7.76 times
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masterjedi
post Oct 19 2010, 10:02 PM


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QUOTE(ngkf @ Oct 19 2010, 08:25 PM)
ballot results available  7.76 times oversubscribed for public portion (inclusive of 50% bumi portion)

check your IPO application status online

Malaysia Marine IPO: Public Portion oversubscribed by 7.76 times
*
siapa kat bumi senang dapat.. me bumi also takde dapat wo.. haiya.. smile.gif
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tanch78
post Oct 19 2010, 10:19 PM


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Application status via MBB2U is "Auto-reversed"!!!! cry.gif
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webby88
post Oct 19 2010, 10:58 PM


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For those unsuccessful maybe a blessing in disguise.
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tineagle
post Oct 19 2010, 11:05 PM


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QUOTE(webby88 @ Oct 19 2010, 10:58 PM)
For those unsuccessful maybe a blessing in disguise.
*
yes, everything happens for and by action-reaction.

this may turn out to be a great stock, but maybe there are better things for those who didn't manage to get the IPO to do with the money, even if its nothing related to this stock.

anyway, congrats to all successful applicants smile.gif
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StevenL
post Oct 19 2010, 11:20 PM


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Tried MIH to see if i was succesful or not, but i think its not updated yet
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prepaidcelcom
post Oct 20 2010, 08:23 AM


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M2U show status "cleared"....syukran....syukran
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sjz
post Oct 20 2010, 08:26 AM


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"Auto reversed" in Maybank2u means didn't get it dy?

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masterjedi
post Oct 20 2010, 08:58 AM


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QUOTE(prepaidcelcom @ Oct 20 2010, 08:23 AM)
M2U show status "cleared"....syukran....syukran
*
well done... petronas chemical ?
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StevenL
post Oct 20 2010, 09:36 AM


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Darned!!! Got my refund too. Cheers to those who got it!!!
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Darkmage12
post Oct 20 2010, 09:49 AM


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wait for Petrochem then
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GregPG01
post Oct 20 2010, 10:09 AM


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Blue form one manyak chance get from what I hear . icon_idea.gif That if you don't apply millions of shares la.
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prepaidcelcom
post Oct 20 2010, 11:11 AM


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QUOTE(masterjedi @ Oct 20 2010, 08:58 AM)
well done... petronas chemical ?
*
Waiting for PETRONAS CHEMICAL that to be listing in the nearest time.. smile.gif
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JinXXX
post Oct 20 2010, 12:48 PM


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QUOTE(prepaidcelcom @ Oct 20 2010, 11:11 AM)
Waiting  for PETRONAS CHEMICAL that  to be listing in the nearest time.. smile.gif
*
any idea when's the date ?

kinda sux for ipo application have to give money first.. then cannot get..


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keith_hjinhoh
post Oct 20 2010, 12:54 PM


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I have got my refund too! Sux IMHO!
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ashleygsy
post Oct 20 2010, 01:02 PM


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Probably nt week..
Petronas Chemical IPO priced RM5.05-RM5.20

http://www.theedgemalaysia.com/business-ne...m505-rm520.html
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Oracles99
post Oct 20 2010, 07:15 PM


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Well, no need for disappointment. Try next one, Petronas Chemicals. All IPOs are priced near to market price. Use Titan Chemical as a guide n decide.
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yeeck
post Oct 22 2010, 11:52 AM


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Whoopee...I got it too... from the balloting statistics for Public, the more you apply the higher chance u get.
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accetera
post Oct 23 2010, 02:10 PM


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when is the listing of MMHE?
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masterjedi
post Oct 23 2010, 04:38 PM


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QUOTE(accetera @ Oct 23 2010, 02:10 PM)
when is the listing of MMHE?
*
sudah lama kawan.. the result also sudah keluar.. u a bit to late.. but still have atractive IPO.. Petronas chemical.. maybe u can apply but the price a bit higher than MMHE
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yeeck
post Oct 23 2010, 07:55 PM


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QUOTE(masterjedi @ Oct 23 2010, 04:38 PM)
sudah lama kawan.. the result also sudah keluar.. u a bit to late.. but still have atractive IPO.. Petronas chemical.. maybe u can apply but the price a bit higher than MMHE
*
I understand his question to mean when will be the first day of trading (listing), not first day of IPO..... rolleyes.gif
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masterjedi
post Oct 23 2010, 11:59 PM


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QUOTE(yeeck @ Oct 23 2010, 07:55 PM)
I understand his question to mean when will be the first day of trading (listing), not first day of IPO.....  rolleyes.gif
*
forgive me , no read and fully understand your question.. perhaps can check posting before this someone have answer the question. but if u account ready with trust money,, nothing to worried. just shoot the bullet on the listing day
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asambuffett
post Oct 24 2010, 11:03 PM


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QUOTE(accetera @ Oct 23 2010, 02:10 PM)
when is the listing of MMHE?
*
29/10/10

i still dun know my application result yet... cool2.gif
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chemistry
post Oct 24 2010, 11:05 PM


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my bank draft was returned already. Didn't get a single lot.
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prepaidcelcom
post Oct 25 2010, 10:50 AM


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Who knows MMHE stock code?


Added on October 25, 2010, 10:51 amWhy IPO enquiry result still not update in MIH website?

This post has been edited by prepaidcelcom: Oct 25 2010, 10:51 AM
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GregPG01
post Oct 25 2010, 11:05 PM


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guess i am not the only guy that don't know the status of application. blue form + bank draft, how to check ah ?
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rosdi1
post Oct 26 2010, 12:40 AM


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QUOTE(GregPG01 @ Oct 25 2010, 11:05 PM)
guess i am not the only guy that don't know the status of application. blue form + bank draft, how to check ah ?
*
If I am not wrong blue form is 100% successful .
http://bit.ly/cnhVxK
don't worry.

This post has been edited by rosdi1: Oct 26 2010, 12:45 AM
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GregPG01
post Oct 26 2010, 09:24 PM


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QUOTE(rosdi1 @ Oct 26 2010, 12:40 AM)
If I am not wrong blue form is 100% successful .
http://bit.ly/cnhVxK
don't worry.
*
Thank you sir. 100% . Yeah, my 100 units of MISC serve me well.
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accetera
post Oct 26 2010, 11:06 PM


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haha thanks guys..
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nemoexcel
post Oct 27 2010, 11:27 AM


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anybody wants my MMHE b4 29th Friday comes? hehe... side deal smile.gif u want it, I've got it .. smile.gif they damn generous, gave me so much... until my leg trembling

This post has been edited by nemoexcel: Oct 27 2010, 11:31 AM
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Oracles99
post Oct 27 2010, 08:11 PM


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QUOTE(nemoexcel @ Oct 27 2010, 11:27 AM)
anybody wants my MMHE b4 29th Friday comes? hehe... side deal  smile.gif  u want it, I've got it ..  smile.gif  they damn generous, gave me so much... until my leg trembling
*
Where got black market nowadays. It is already priced near market price. Those unsuccessful ones can try Petronas Chemicals-retail investors portion is 293 millions shares. Ha ha ha
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nemoexcel
post Oct 28 2010, 01:03 AM


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QUOTE(Oracles99 @ Oct 27 2010, 08:11 PM)
Where got black market nowadays. It is already priced near market price. Those unsuccessful ones can try Petronas Chemicals-retail investors portion is 293 millions shares. Ha ha ha
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why not? I've done so many .... lol
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asambuffett
post Oct 28 2010, 02:32 PM


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QUOTE(GregPG01 @ Oct 26 2010, 09:24 PM)
Thank you sir. 100% . Yeah, my 100 units of MISC serve me well.
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haha Greg , i also got only 100 units of misc.. purpose is just to keep up to date with the company.. tongue.gif


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masterjedi
post Oct 28 2010, 04:41 PM


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QUOTE(asambuffett @ Oct 28 2010, 02:32 PM)
haha Greg , i also got only 100 units of misc.. purpose is just to keep up to date with the company..  tongue.gif
*
if me la.. 100 unit malu mahu attend agm compnay.. smile.gif
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GregPG01
post Oct 28 2010, 06:30 PM


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The 100 units was to get the blue form. Once get the blue form, you can dump it lio .
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JinXXX
post Oct 28 2010, 06:55 PM


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tmrw listing.. yeah can finally get a piece of it..

any idea will it drop or just shoot up ?
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Oracles99
post Oct 28 2010, 07:33 PM


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QUOTE(nemoexcel @ Oct 28 2010, 01:03 AM)
why not? I've done so many .... lol
*
I have done a lot of this during the 1980s. I remember buying lots of TNB shares from some TNB staff at RM6.20. It eventually opened at its first day listing price of RM8-35.
Those were the days. During those days, I received phone calls from people unknown to me offering to sell their IPO shares to me.

But today, most IPOs end up below water as they are priced near market price. Hence, not hot now.

Anyway, I have happy to know that u are very active in the grey market. laugh.gif
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JinXXX
post Oct 29 2010, 10:24 AM


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MHB 4.52 +0.720

hmm not bad.. straight away sell also profit already smile.gif
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tineagle
post Oct 29 2010, 10:45 AM


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QUOTE(JinXXX @ Oct 29 2010, 10:24 AM)
MHB  4.52    +0.720

hmm not bad.. straight away sell also profit already smile.gif
*
but when to sell is the question.. lol

not so easy for ppl to decide, unless u have good trading principles.

most will be greedy, stay too long then panic selling so end up not taking max profit.
same case with maxis IPO when i was watching it, 1st day price goreng so high, then next few days crash then stable at that lvl till today..

so IPO holders, run while you can? decision is up to you!
(long term dividend play should be well with this counter too i suppose)
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rosdi1
post Oct 29 2010, 10:47 AM


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QUOTE(JinXXX @ Oct 29 2010, 10:24 AM)
MHB  4.52    +0.720

hmm not bad.. straight away sell also profit already smile.gif
*
Sold 75% of mine at 4.50 ... now holding free share already
just wait and see
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tineagle
post Oct 29 2010, 11:28 AM


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QUOTE(rosdi1 @ Oct 29 2010, 10:47 AM)
Sold 75% of mine at 4.50 ... now holding free share already
just wait and see
*
good move.

Looks like downtrend is starting, still watching the show smile.gif
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JinXXX
post Oct 29 2010, 12:45 PM


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QUOTE(tineagle @ Oct 29 2010, 11:28 AM)
good move.

Looks like downtrend is starting, still watching the show smile.gif
*
if downtrend is coming good for me.. can sapu all and goreng.. wahhahah tongue.gif
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tineagle
post Oct 29 2010, 01:05 PM


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QUOTE(JinXXX @ Oct 29 2010, 12:45 PM)
if downtrend is coming good for me.. can sapu all and goreng.. wahhahah tongue.gif
*
good for all of us watching the show, but price now at 4.60 doh.gif

This post has been edited by tineagle: Oct 29 2010, 01:06 PM
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tanch78
post Oct 29 2010, 01:59 PM


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wow, everyone is earning big bucks!!!
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JinXXX
post Oct 29 2010, 02:17 PM


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QUOTE(tanch78 @ Oct 29 2010, 01:59 PM)
wow, everyone is earning big bucks!!!
*
i'm guessing this is how skim cepat kaya feels like lol tongue.gif ahhahaha
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asambuffett
post Oct 29 2010, 04:17 PM


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QUOTE(masterjedi @ Oct 28 2010, 04:41 PM)
if me la.. 100 unit malu mahu attend agm compnay.. smile.gif
*
ya la. memang malu at the registration counter..only 100 aaa.....hehe

hw, only attended it once before at Istana Hotel..just want to see the environment and that was it. the business is too complex for me and i think to 99% who attended. so only can hear not so smart questions from the audience.

btw, hooray..today only know that got all 100% of the shares applied...(thanks to the blue form too) rclxms.gif

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firee818
post Oct 30 2010, 01:31 PM


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Overpriced, call sell as soon as possible
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Icehart
post Oct 30 2010, 07:06 PM


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What's the fair value of this share?
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rosdi1
post Oct 31 2010, 04:07 AM


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QUOTE(Icehart @ Oct 30 2010, 07:06 PM)
What's the fair value of this share?
*
The SUN Newspaper in the writeup on say between 4.00 to 4.54 so the current price is still within that range ( on the upsite a bit) I had sold 70% of mine recovering most of the capital so that I can just turn the rest as an investment share and keep it for 2 years.
Brgds
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Icehart
post Oct 31 2010, 10:28 PM


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QUOTE(rosdi1 @ Oct 31 2010, 04:07 AM)
The SUN Newspaper in the writeup on say between 4.00 to 4.54 so the current price is still within that range ( on the upsite a bit) I had sold  70% of mine recovering most of the capital so that I can just turn the rest as an investment share and keep it for 2 years.
Brgds
*
That's dangerous. Better sell off mine early in the morning tomorrow shocking.gif
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zamans98
post Nov 1 2010, 10:05 AM


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coming down. more selling pleasure (pressure) on Tuesday/Wed.
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Icehart
post Nov 1 2010, 10:38 AM


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Thanks to Rosdi, manage to sell off all at 4.56 smile.gif
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post Nov 1 2010, 05:08 PM


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QUOTE(zamans98 @ Nov 1 2010, 10:05 AM)
coming down. more selling pleasure (pressure) on Tuesday/Wed.
*
haha i succummed to the down preassure and sold 60% at 4.48... lost 3c .. doh.gif


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StevenL
post Nov 1 2010, 10:17 PM


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QUOTE(asambuffett @ Nov 1 2010, 05:08 PM)
haha i succummed to the down preassure and sold 60% at 4.48... lost 3c .. doh.gif
*
Ok la at least u still make some money............ rclxms.gif
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zamans98
post Nov 1 2010, 10:52 PM


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QUOTE(asambuffett @ Nov 1 2010, 05:08 PM)
haha i succummed to the down preassure and sold 60% at 4.48... lost 3c .. doh.gif
*
I'm looking it at 4.38-440 tomolo and just maybe lower few cts on WED. Then full force PETCHEM..


Added on November 2, 2010, 11:42 amNot even close to 445.. aiyo, bila wanna down ?

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prepaidcelcom
post Nov 8 2010, 11:54 AM


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today hit 4.62....excellent
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asambuffett
post Nov 9 2010, 01:09 AM


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QUOTE(prepaidcelcom @ Nov 8 2010, 11:54 AM)
today hit 4.62....excellent
*
doh.gif doh.gif doh.gif
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firee818
post Nov 14 2010, 11:02 AM


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Game over after Petro Chemical listed.
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mr_hustla
post Nov 30 2010, 07:10 PM


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no gameover

today 4.76 rclxms.gif rclxms.gif rclxms.gif
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rosdi1
post Nov 30 2010, 11:08 PM


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QUOTE(mr_hustla @ Nov 30 2010, 07:10 PM)
no gameover

today 4.76  rclxms.gif  rclxms.gif  rclxms.gif
*
This is a new all tine high?? rclxms.gif rclxms.gif rclxms.gif

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mr_hustla
post Dec 1 2010, 04:39 PM


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all time high is 4.95!!

rclxms.gif rclxms.gif rclxms.gif
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rosdi1
post Dec 9 2010, 03:38 PM


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make another all time high of 5.08

PS
Moderator: need to change the heading...

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mr_hustla
post Dec 9 2010, 08:51 PM


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all time high is 5.09!!

rclxms.gif rclxms.gif
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StevenL
post Dec 9 2010, 10:21 PM


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up ar! up ar! up ar!!!!
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rosdi1
post Dec 10 2010, 03:27 PM


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QUOTE(mr_hustla @ Dec 9 2010, 08:51 PM)
all time high is 5.09!!

rclxms.gif  rclxms.gif
*
another new high at 5.13 rclxms.gif rclxms.gif
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firee818
post Dec 12 2010, 10:00 AM


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The price is supported by fuel price. Wonder how long oil price will sustain from USD 35.00 (approx) to present USD 89.00 without actual correction....
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rosdi1
post Dec 12 2010, 12:56 PM


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QUOTE(firee818 @ Dec 12 2010, 10:00 AM)
The price is supported by fuel price. Wonder how long  oil price  will sustain from USD 35.00 (approx) to present USD 89.00 without actual correction....
*
I think Iran and Saudi, Russia and US are happy with the high price...
Iraq had not created any impact yet ..
But the glut will happen if not soon, later
I think the golden Balloon have to burst sooner or later
just my reading
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firee818
post Dec 12 2010, 09:27 PM


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QUOTE(rosdi1 @ Dec 12 2010, 12:56 PM)
I think Iran and Saudi, Russia and US are happy with the high price...
Iraq had not created any impact yet ..
But the glut will happen if not soon,  later
I think the golden Balloon have to burst sooner or later
just my reading
*
Year 2011 is a challenging year for stock, property, gold, palm oil and crude oil after a long rising from 8/2008 to present (3 years ).
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rosdi1
post Dec 15 2010, 11:44 AM


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QUOTE(rosdi1 @ Dec 15 2010, 11:44 AM)
MHB is cathing up the bigger brother  High 5.35   rclxms.gif  rclxms.gif  rclxms.gif  rclxms.gif
*
and now 5.40 rclxms.gif rclxms.gif rclxms.gif
Time to decide on a stop: 5.21 and trailing at 0.20

PS:
Trailing Stop:
http://www.investopedia.com/articles/trading/03/080603.asp

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zamans98
post Dec 15 2010, 02:26 PM


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QUOTE(rosdi1 @ Dec 15 2010, 11:44 AM)
and now 5.40  rclxms.gif  rclxms.gif  rclxms.gif
Time to decide on a stop: 5.21  and trailing at 0.20

PS:
Trailing Stop:
http://www.investopedia.com/articles/trading/03/080603.asp
*
boss, since when BURSA allows Trailing Stop? rclxub.gif
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rosdi1
post Dec 15 2010, 03:18 PM


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QUOTE(zamans98 @ Dec 15 2010, 02:26 PM)
boss, since when BURSA allows Trailing Stop?  rclxub.gif
*
Manual monitoring laaa
look and see (LAS)
Never ask your remiser to do that for you... He might sell it right away.
My remiser can never understand why I want him to sell lower whereas he can sell it at a higher price.
another reason is he can lock his brokerage fee right away

This post has been edited by rosdi1: Dec 15 2010, 03:41 PM
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prepaidcelcom
post Dec 15 2010, 04:34 PM


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up to 5.52... rclxm9.gif

Friday goes to RM6.00.. whistling.gif

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zamans98
post Dec 16 2010, 12:54 PM


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Wah, hari hari up one.

Today - it is higher than PCHEM.
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ngkhanmein
post Dec 17 2010, 03:54 PM


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this stock is for MMHE.. they own my company payment!!
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rosdi1
post Dec 20 2010, 03:22 PM


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5.60 ... a new high again....now ahead of the big brother rclxms.gif rclxms.gif rclxms.gif


Added on December 20, 2010, 3:36 pm
QUOTE(rosdi1 @ Dec 20 2010, 03:22 PM)
5.60 ... a new high again....now ahead of the big brother rclxms.gif  rclxms.gif  rclxms.gif
*
and now 5.65... rclxm9.gif rclxm9.gif rclxm9.gif

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Darren
post Dec 20 2010, 04:49 PM


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QUOTE(ngkhanmein @ Dec 17 2010, 03:54 PM)
this stock is for MMHE.. they own my company payment!!
*
Haiiih...

A lot of these companies on Bursa... thats why they said dont be so greedy.

If they got money, why not buy direct from manufacturer instead sourcing from you?
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rosdi1
post Dec 22 2010, 04:46 PM


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Heading toward 6.00
today make another high at 5.85 rclxms.gif rclxms.gif

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mikehwy
post Dec 22 2010, 10:19 PM


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i just wonder why this is higher than Pchem?
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ts1
post Dec 22 2010, 10:36 PM


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coz oil n gas ma

heard got 5b contract

and potential merger wif Kencana

got rumour can go higher lo
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rosdi1
post Dec 23 2010, 05:09 PM


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I have a bad feeling that the Dream to see a 6.00 this year will not be materialise.
I am putting my stop at 5.72 and I hope I could last to the new year.
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rosdi1
post Dec 24 2010, 10:13 AM


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QUOTE(rosdi1 @ Dec 23 2010, 05:09 PM)
I have a bad feeling that the Dream to see a 6.00 this year will not be materialise.
I am putting my stop at 5.72 and I hope I could last to the new year.
*
Start badly....
Miss my stop at 5.72.. may just have to release at 10:30 to 11:00 hopefully it recover a bit by then.
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prepaidcelcom
post Dec 30 2010, 12:35 AM


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yesterday closed at RM5.90.Today may reaches RM6.00 coz Friday no trading day(public holiday)

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nasni
post Dec 30 2010, 06:55 PM


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Bought it during IPO, and sold off at RM4.20,
use cash to buy PCHEM, now my funds stuck at PCHEM!! doh.gif

Wonder why it can reach 6.00??? shocking.gif
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coolpeople
post Dec 30 2010, 10:12 PM


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QUOTE(nasni @ Dec 30 2010, 06:55 PM)
Bought it during IPO, and sold off at RM4.20,
use cash to buy PCHEM, now my funds stuck at PCHEM!! doh.gif

Wonder why it can reach 6.00??? shocking.gif
*
same case....sold off at 4.65..then park in pchem... cry.gif
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nodoube
post Jan 10 2011, 07:42 PM


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any news that it will up rm6.20???very nerves,it will go down below rm5.88....
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StevenL
post Jan 11 2011, 08:22 PM


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RM6.22!!!!
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zamans98
post Jan 12 2011, 12:27 AM


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Crazy movement detected in MHB. Once PCHEM cross her, she double cross, ensuring the get the bragging rights!
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prepaidcelcom
post Jan 12 2011, 11:15 AM


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QUOTE(zamans98 @ Jan 12 2011, 12:27 AM)
Crazy movement detected in MHB. Once PCHEM cross her, she double cross, ensuring the get the bragging rights!
*
today hit RM6.48....excellent memontum rclxms.gif whistling.gif
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StevenL
post Jan 12 2011, 12:14 PM


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QUOTE(zamans98 @ Jan 12 2011, 12:27 AM)
Crazy movement detected in MHB. Once PCHEM cross her, she double cross, ensuring the get the bragging rights!
*
Well, we dun mind the squabbles between both of them on the bragging rights, do we? Keep em up!!! rclxms.gif
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nodoube
post Jan 14 2011, 11:03 AM


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Scissorshand
post Jan 14 2011, 05:18 PM


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I guessed Maybank must be very proud of this achievement as hey're the lead arranger for this IPO and its performing better than PCHEM. RM6.37 closing......
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rosdi1
post Jan 18 2011, 08:50 AM


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Just for sharing : from Maybank
Attached File  MMHE_20110117_MIB_preliminary.pdf ( 332.4k ) Number of downloads: 84


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nodoube
post Jan 21 2011, 01:08 PM


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going down........hope dont drop below 6.00..... rclxub.gif

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StevenL
post Mar 14 2011, 06:59 PM


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RM6.61........ still happy here
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rashid1218
post Apr 3 2011, 06:34 PM


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hi anyone still keeping this stock? What's the outlook or analyst's view on this counter? Thx.
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nodoube
post Apr 6 2011, 08:49 PM


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ooooo man........mhb up to rm7....ayo......
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yeeck
post Jul 26 2011, 03:32 PM


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Wow..MHB dropped so much recently. From around 8.50 to 7.58 low today. What's happening?
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pinky.faye3
post Jul 26 2011, 04:35 PM


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QUOTE(yeeck @ Jul 26 2011, 03:32 PM)
Wow..MHB dropped so much recently. From around 8.50 to 7.58 low today. What's happening?
*
jumping ship to armada lor rclxm9.gif
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limtat
post Jul 26 2011, 04:38 PM


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QUOTE(yeeck @ Jul 26 2011, 03:32 PM)
Wow..MHB dropped so much recently. From around 8.50 to 7.58 low today. What's happening?
*
yeah..me too. wondering y suddenly...
still holding the shares...
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ciahcra
post Jul 26 2011, 04:39 PM


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QUOTE(yeeck @ Jul 26 2011, 03:32 PM)
Wow..MHB dropped so much recently. From around 8.50 to 7.58 low today. What's happening?
*
lose contract to zecon and knm
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pinky.faye3
post Aug 1 2011, 03:24 PM


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aiyah...so weak now
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yeeck
post Aug 20 2011, 06:09 PM


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MMHE lands jobs worth RM952m from MISC

http://www.theedgemalaysia.com/business/19...-from-misc.html
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pinky.faye3
post Aug 26 2011, 08:42 AM


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anyone going for their AGM? smile.gif
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nasni
post Aug 26 2011, 09:31 AM


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i dunno guys, but the PE is way too high.....
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yeeck
post Aug 28 2011, 11:54 PM


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AGM on 21st Sept. Planning to go. Wondering what's the door gift, if any. Hehe.
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pinky.faye3
post Sep 2 2011, 08:51 PM


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me think me is going...door gift? starcruises tickets will do biggrin.gif
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jingxianho
post Oct 21 2011, 08:59 AM


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MHB confirms Telok fabrication contract

original post:Click here to see more


MHB confirmed a Bloomberg report on Tuesday that it will be awarded a contract from ExxonMobil Corp to fabricate facilities for its Telok gas development in Malaysia. Production at Telok is expected to begin in 1Q 2013 to provide additional gas supply for the country’s power and industrial needs.
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mikehwy
post Nov 10 2011, 12:03 AM


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this elephant has not been moving for over 1 week. i simply wonder why and how?

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yeeck
post Nov 10 2011, 12:48 AM


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QUOTE(pinky.faye3 @ Sep 2 2011, 08:51 PM)
me think me is going...door gift? starcruises tickets will do biggrin.gif
*
No door gift. Some aunties there suggest good door gifts better attend DRBHICOM AGM.
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kilrathi
post Nov 10 2011, 01:26 AM


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sources have mentioned Long Term TP: 9.00 ....
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tanch78
post Nov 10 2011, 08:07 AM


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QUOTE(kilrathi @ Nov 10 2011, 01:26 AM)
sources have mentioned Long Term TP: 9.00 ....
*
How do you define "long-term"? More than one year?
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machoman_13
post Nov 10 2011, 03:45 PM


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Different views from Research house about this stock (Buy? Hold? Sell?)

http://klse.i3investor.com/quoteservlet.jsp?sa=ss&q=MHB
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zacknistelrooy
post Jun 16 2012, 07:36 PM


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small rumors of new deals coming through?
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Polaris
post Jun 17 2012, 08:11 PM


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Jump 30 sen in one day
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davinz18
post Feb 21 2013, 06:19 PM


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Final single tier dividend of 10 sen per ordinary share

EX-date 14/06/2013

Entitlement date 18/06/2013

Entitlement time 04:00:00 PM

Payment date 02/07/2013
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goldironman
post May 23 2013, 02:27 PM


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Sifus, what are your strategies having read recent MMHE news and below analyst report?
The question is when do u target to buy-in and get the best "sale" price? drool.gif
Or rather avoid this counter? hmm.gif


‘Fair value’ of MMHE at RM3.30
The Star linky

File picture showing vessels being worked on at MMHE’s shipyard in Pasir Gudang.
MALAYSIA MARINE AND HEAVY ENGINEERING HOLDINGS BHD (MMHE)

By AmResearch

Sell (maintain)

Fair value: RM3.30

WE maintain our “sell” call on MMHE with an unchanged fair value of RM3.30 per share based on a forecast financial year 2014 price-to-earnings ratio of 20 times at a 10% discount to Kencana Petroleum's peak of 22 times in 2007.

We maintain MMHE's forecast financial years 2013 to 2015 net profits as its first quarter 2013 results came in within our expectations but below street estimates.

MMHE's net profit of RM51mil came in at 22% of our financial year 2013 earnings forecast of RM232mil and 18% of general consensus' RM289mil.

MMHE's first quarter financial year 2013 revenue increased by 8% with the Gumusut-Kakap floating production storage (FPS) semi-submersible and Tapis projects nearing completion, together with the commencement of the Malikai tension leg platform (TLP), which was secured earlier this year.

But its pre-tax profit contracted by 6% due to the absence of any profit contribution from the Malikai TLP as its completion stage is currently below 5% and way below MMHE's 25% threshold policy for profit recognition and less marine repair work for liquefied natural gas and liquefied petroleum gas vessels.

The group's first quarter financial year 2013 net profit fell further, by half quarter-on-quarter to RM51mil due to absence of a positive tax charge seen in the last quarter of the previous financial year, which benefited MMHE with capital allowances stemming from the acquisition of Sime Darby Engineering yard.

On a year-on-year comparison, MMHE's revenue rose 39% due to the recognition of the Kebabangan contract (as the novation occurred in April 2012) and to a lesser extent, the F14/F29 and Damar platform and Malikai TLP projects.

But net profit fell 35% due to lower margins from the Kebabangan project and absence of profit contribution from the TLP job.

The Gumusut-Kakap FPS was recently rolled out from MMHE's Pasir Gudang yard and is currently undergoing sea trials off Johor.

With the completion of this long-delayed project, the group hopes to secure some variation orders, together with design changes for the earlier-completed FPSO Cendor conversion project.

We understand that the group is hoping to secure a further RM1.5bil of fresh orders, involving a large central procession platform and smaller structures from Petronas.

Including MMHE's 50% effective stake in the RM2.4bil Malikai TLP, the group will be securing RM2.7bil new orders for this year, slightly lower than our forecast revenue.

This means that with an estimated depletion rate of RM800mil per quarter, MMHE's order book could slide from RM2.3bil currently to RM1.4bil by year-end translating into only half of financial year 2014 forecast revenue.
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goldironman
post May 23 2013, 02:30 PM


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Published: Tuesday May 21, 2013 MYT 6:27:00 PM
MMHE Q1 earnings down 35% to RM50.59m
By Nadya Ngui

The Star linky

KUALA LUMPUR: Malaysia Marine and Heavy Engineering Holdings Bhd's (MMHE) earnings fell 35.3% to RM50.59mil in the first quarter ended March 31, 2013 from RM78.2mil a year ago.

It said on Tuesday its revenue however, surged 38.5% to RM921.82mil from RM665.26mil due to higher contribution from its TLP Malikai Deepwater offshore project. Earnings per share were 3.20 sen compared with 4.90 sen.

MMHE said the lower profit was because its Malikai's project's earnings had yet to be recognised due to its early stage of completion. However, its marine sector contributed positively through better pricing and increased scope of work from ship owners.

It said global oil price has declined but exploration and production project costs have remained high.

It said the industry has also seen major project like Woodside Petroleum's Browse onshore LNG and BP's Mad Dog Phase 2 being deferred and reassessed.

"As a result while tender assessment and activities remained active, timely order intake may be challenging compared to last year. Greater competition from regional yards for international and selected domestic projects that the group is bidding for will create a more competitive environment," it said.
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CPURanger
post Jul 25 2013, 11:11 AM


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Gone up to rm 4.36. Anyone know why ?
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davinz18
post Sep 27 2013, 06:34 PM


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Petronas awards contract to Technip-MMHE JV

Petroliam Nasional Bhd (Petronas) has awarded an oil and gas support services contract for two gas fields in Sarawak to the Technip-MMHE joint venture.

In a statement today, Petronas said the engineering, procurement, construction, installation and commissioning (EPCIC) contract is for the development of gas fields in Block SK316. The gas fields are located some 180km north of Bintulu.

"The EPCIC contract for Block SK316 underwent a bidding exercise in which three companies submitted their bids. They are namely, Berlian McDermott Sdn Bhd; SAIPEM (M) Sdn Bhd; and Technip-MMHE joint venture; via a front end engineering design (FEED) competition with subsequent rollover to EPCIC execution.

"Based on this process, the most competitive bidder has been identified as Technip-MMHE joint venture," Petronas said.
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post Oct 7 2013, 04:01 PM


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Petronas okays Technip-MMHE Bintulu gas fields project

Technip and Malaysia Marine and Heavy Engineering Sdn Bhd (MMHE) have received a thumbs up from Petronas Carigali for the construction of two gas fields project off Bintulu, Sarawak.

In a statement on Monday, Technip said both companies “have received confirmation from Petronas Carigali for a substantial engineering, procurement, construction, installation and commissioning (EPCIC) contract for the development of two gas fields in Block SK316”.

According to Technip, the “substantial” offshore contract ranges from €250mil (RM1.081bil) to €500mil (RM2.163bil).
“The EPCIC contract includes a central processing platform and a bridge-linked wellhead platform, which will be constructed at MMHE’s fabrication yard at Pasir Gudang in Johor, Malaysia, as well as a 75km pipeline, which will be installed by one of Technip’s pipe-laying vessels,” it said.
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wil-i-am
post Oct 9 2013, 08:42 PM


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AmResearch recommend Buy with TP @ 4.30
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post Oct 22 2013, 04:12 PM


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MMHE's Q3 pre-tax profit soars to RM41.12 million

Malaysia Marine and Heavy Engineering Holdings Bhd (MMHE) posted a pre-tax profit of RM41.12 million for the third quarter ended Sept 30, 2013 from RM10.25 million in the corresponding quarter of the last financial year.

However, revenue fell to RM449.67 million from RM841.78 million a year ago.

The higher pre-tax profit was due to higher operating profit from the offshore segment, the company said in a filing to Bursa Malaysia today.

"In the quarter under review, the group successfully loaded out the Damar Topside and Jacket for Exxon Mobil Exploration and Production Malaysia Inc and the F14 Jacket for Sarawak Shell Bhd," it added.

On prospects, the group is focused on replenishing its orderbook, with confirmation from Petronas Carigali on the EPCIC development of Block SK316 with its joint-venture partner, Technip.

The Group will also continue to bid for domestic as well as regional offshore development projects.
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wil-i-am
post Oct 24 2013, 09:18 PM


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Rhb recommend Neutral with TP @ 3.80
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king_majesty
post Oct 24 2013, 09:32 PM


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Because sharing is caring cool2.gif

CIMB TP RM4
AMMB TP RM4.3
Attached File  MHB_20131023.pdf ( 487.33k ) Number of downloads: 4

Attached File  MMHE_131022.pdf ( 369.51k ) Number of downloads: 4

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post Nov 13 2013, 09:55 PM


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AmResearch maintains Buy on MMHE

AmResearch has maintained its Buy call on Malaysia Marine & Heavy Engineering Holdings (MMHE) with an unchanged fair value of RM4.30 per share.

“We maintain FY13F-FY15F earnings which assume new annual order intakes of RM2.5bil to RM4bil, as there is likely to be insignificant impact from the loss of the Bertam wellhead platform job to TH Heavy Engineering (THHE),” it said on Wednesday.

AmResearch said THHE announced that it has received a letter of award from Lundin Malaysia BV to fabricate a wellhead platform for the PM307 Bertam Field Development Project - 175 kilometers off the east coast of Peninsular Malaysia.

“We are surprised that THHE managed to secure this project as Upstream indicated earlier that MMHE was expected to secure this contract.

“But we remain sanguine that there will be ramped up interest in the sector given the impending award of the Pan-Malaysia umbrella transport and installation contracts by the end of this year as well as charters for drilling rigs and floating, production, storage and offloading vessels early next year,” it said.

Although MMHE may not directly benefit from these contracts, AmResearch said it could catalyse fresh excitement for fabrication order flows.

“The stock currently trades at an attractive FY14F PE of 23 times – 15% below SapuraCrest Petroleum’s 2007 peak of 27 times,” it said.
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wil-i-am
post Feb 11 2014, 04:07 PM


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Malaysia Marine and Heavy Engineering Holdings Bhd (MMHE) posted net profit of RM236.47mil in the financial year ended Dec 31, 2013, down 2.2% from RM242mil in FY12.

It said on Tuesday its revenue fell 13.3% to RM2.884bil from RM3.329bil in FY12. It proposed dividend of 5.0 sen a share.

For the fourth quarter ended Dec 31, 2013, its earnings rose 1.7% to RM102.03mil from RM100.36mil a year ago. Its revenue slipped 15.2% to RM726.30mil from RM857.01mil. Earnings per share were 6.4 sen versus 6.3 sen.

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wil-i-am
post Feb 12 2014, 01:14 PM


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AmeSecurities maintains its 'buy' call on Malaysia Marine & Heavy Engineering Holdings (MMHE) with an unchanged fair value of RM4.30 per share.

According to the brokerage, it had fine-tuned MMHE’s financial year 2014-15 earnings, with new order assumptions unchanged at RM3-RM3.5 billion.

It also introduce the forward financial year 2016 earnings with a 17 per cent growth and a new order intake assumption of RM4 billion against RM2.6 billion in financial year 2013.

"We have already highlighted in our past reports that the Malikai TLP contract, secured in February 2013, and any additional orders secured by the end of 2013 could only begin profit contributions from second quarter of financial year 2014 onwards.

"MMHE’s accounting policy recognises earnings when work progress has reached the completion stage of 25 per cent. Hence, we believe that the market has already priced in the expected uneven earnings performance for the next one quarter."


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goldironman
post Feb 12 2014, 03:46 PM


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The report doesn't seem to impact the share price, currently at RM3.70 c.f. RM3.68 yesterday yawn.gif
Wondering when will it goreng to reach RM4 again...

QUOTE(wil-i-am @ Feb 12 2014, 01:14 PM)
AmeSecurities maintains its 'buy' call on Malaysia Marine & Heavy Engineering Holdings (MMHE) with an unchanged fair value of RM4.30 per share.

According to the brokerage, it had fine-tuned MMHE’s financial year 2014-15 earnings, with new order assumptions unchanged at RM3-RM3.5 billion.

It also introduce the forward financial year 2016 earnings with a 17 per cent growth and a new order intake assumption of RM4 billion against RM2.6 billion in financial year 2013.

"We have already highlighted in our past reports that the Malikai TLP contract, secured in February 2013, and any additional orders secured by the end of 2013 could only begin profit contributions from second quarter of financial year 2014 onwards.

"MMHE’s accounting policy recognises earnings when work progress has reached the completion stage of 25 per cent. Hence, we believe that the market has already priced in the expected uneven earnings performance for the next one quarter."
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goldironman
post Apr 4 2014, 04:13 PM


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Published: Tuesday April 1, 2014 MYT 12:00:00 AM
Updated: Tuesday April 1, 2014 MYT 7:52:21 AM
Eyes on Kasawari RM3bil Petronas Carigali job

BY WONG WEI-SHEN

Works being carried out at a MMHE ship yard. The company and Technip are believed to be ‘the most likely’ candidates to secure a job from Petronas Carigali to design and build a multi -platform project at the Kasawari field located off-shore Sarawak.
Works being carried out at a MMHE ship yard. The company and Technip are believed to be ‘the most likely’ candidates to secure a job from Petronas Carigali to design and build a multi -platform project at the Kasawari field located off-shore Sarawak.

PETALING JAYA: Malaysia Marine & Heavy Engineering Holdings Bhd (MMHE) and Technip are believed to be “the most likely” candidates to secure a job from Petronas Carigali Sdn Bhd for design and construction of a multi-platform project at the Kasawari field located offshore Sarawak, according to AmResearch.

The Kasawari project is the second such project in the area. known as Block SK316.

The tender for the project, expected to be out by May this year, is for the parallel front-end engineering and design (FEED) studies to build a multi-platform project at the field.

AmResearch noted that Technip took the lead in the conceptual studies of the Kasawari field development, while the JV between Technip and MMHE had eventually secured the contract for the first standalone multi-platform development in Block SK316.

“We believe they stand as the most likely candidates to secure this project,” it’s analyst Alex Goh said in note.

An online industry magazine recently reported that at least three local firms - MMHE, SapuraKencana Petroleum Bhd and and TH Heavy Engineering Bhd - have been invited by Petronas Carigali to participate in a pre-qualification exercise for the project.

The Kasawari project, estimated to be worth some RM3bil, involves a 30,000-tonne eight-legged central processing platform (CPP) which has topsides that weigh 19,000 tonnes, a nine-slot wellhead platform, a bridge link, a flare tower and a central collection platform. Other overseas players such as Hyundai Heavy Industries, Samsung Heavy Industries, and Daewoo Shipbuilding & Marine Engineering could also be involved.

According to the report, Petronas has limited participation to contractors with at least 10 years of experience in handling projects involving carbon dioxide removal process.

This is given that gas from the Kasawari field has high carbon dioxide content, which could be more costly to extract and produce.

AmResearch’s Goh opined that the winner for this parallel FEED contest would also stand the best chance to secure the EPCIC (engineering, procurement, construction, installation and commissioning) contract for the project.

Goh said the EPCIC job is likely to be awarded in the second half of 2015.

Meanwhile, CIMB Research analyst Norziana Mohd Inon expects Petronas’ capital expenditure (capex) in the upstream segment could keep O&G service providers on their toes.

“We learned that over the next five years, Malaysia’s upstream capex could reach US$60bil, including investments in enhanced oil recovery projects at the Guntong, Angsi and Dulang fields following the success at Tapis,” she said fresh from the recent Offshore Technology Conference (OTC) Asia.

Refinery and Petrochemical Integrated Development (Rapid) project, Petronas’ downstream project, could top US$50bil in capex by 2020, which is 150% more than the initial target of US$20bil. Although pleasantly surprised on the potential higher capex, Norziana noted that Petronas has targeted to spend it by 2020.
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