【MAHSING 8583 交流专区】马星集团

laio4

你 们 买 进 或 看 好 这 只 股 是 以 基 本 面 还 是 看 技 术？

choo_chooo

原帖由 laio4 于 6-7-2008 08:00 AM 发表
你 们 买 进 或 看 好 这 只 股 是 以 基 本 面 还 是 看 技 术？

本人是看 基 本 面
有何不妥？洗耳恭听

blackcat98

原帖由 choo_chooo 于 5-7-2008 04:34 PM 发表
股息有8sens，但这几天都在跌。。
这股不错的说。销售成绩亮丽。。
小妹在槟城看到了在山玻上大大个 “SOUTHBAY“。。 掂啊！

我看了SOUTHBAY很不錯，第一個讓我聯想到馬來西亞版的＂杜拜棕櫚島＂






[ 本帖最后由 blackcat98 于 6-7-2008 02:38 PM 编辑 ]

choo_chooo

槟岛寸土是金。。
但槟城人似乎对马星这个豪华发展计划毫无认识。。。
甘豪的发展计划应该是被热烈讨论才是的..

v2_vehooi

这个project是否已经动工？？？？应该在槟城的butterworth那边。。。。

choo_chooo

MAH Sing Group Bhd will be using its strengthening cash reserves to expand into new market frontiers in east Malaysia and Vietnam next year.

The company's cash pile of RM130.7mil as at March 31 will receive a boost with the scheduled completion of the en bloc sale of the east wing of The Icon@Tun Razak for RM236mil to Prompt Symphony Sdn Bhd by middle of next year.

Mah Sing's cash position was strengthened by a RM200mil capital raising exercise and proposed sale of two Grade A office buildings, The Icon@Tun Razak and The Icon@Mont'Kiara, for RM735mil last year.

Given the company's low gearing ratio of 0.03 times compared with the industry norm of 0.5 times, Mah Sing could also resort to bank borrowings for its regional expansion plans.
Datuk Seri Leong Hoy Kum

President and group chief executive Datuk Seri Leong Hoy Kum said the company was on track to become a regional lifestyle developer and some potential projects had been identified.

“We are in a very good position to make some opportunistic acquisitions.

“It is a good time to lock in land which have recently dropped in value and by the time the projects are launched in 2010, the regional economy should recover from the current slowdown,” Leong told StarBiz.

He said the company had been closely monitoring the situation in Vietnam and believed the country would recover from its current economic doldrums in the next six to nine months.

“There is still a severe shortage of houses for the country's 85 million people and our plans are to build landed residential projects and Grade A office buildings in high-growth cities,” he added.

Leong said Mah Sing was also looking at other strong growth countries including China, India and Indonesia.

In the next five years, the company's overseas projects will contribute 20% to 30% of group revenue.

Locally, Mah Sing is eyeing opportunities in Sabah and Sarawak to take advantage of the growth to be brought about by the Sabah and Sarawak growth corridors.

“The Sabah Development Corridor and the Sarawak Corridor of Renewable Energy have already attracted more than 30 foreign investors to each of the corridor.

“Kota Kinabalu's strong tourism sector offers big potential for the company to build its brand of themed commercial developments that include hotels, service apartments and shop offices,” he said.

Meanwhile, Mah Sing's 584 acres of undeveloped land bank have the potential to generate RM3bil in gross development value over the next five to seven years.

For the current financial year ending Dec 31, the company is looking at recording sales of RM560mil while new project launches will come up to RM706mil.

Citigroup Research, in a recent note, said that backed by high unbilled sales of RM1.1bil as at 31 March, Mah Sing could look forward to a three-year net profit compounded annual growth rate of 21%.

scsiang82

更新: July 27, 2008 18:39

馬星集團蟬聯
CNBC最佳產業獎


（吉隆坡27日訊）馬星集團（MAHSING，8583，主板產業）第二度獲得CNBC亞太區馬來西亞最佳產業獎。

馬星旗下萬豪苑（Kemuning Residense）C1型Garden Bungalow，榮獲2008年CNBC亞太區馬來西亞最佳產業獎。

該公司總營運長黃興沛代表公司出席頒獎禮。

馬星董事經理拿督梁海金在文告指出，此獎項証明馬星發展的房屋達到世界水準。

馬星曾獲2007年CNBC國際產業組馬來西亞最佳發展。

http://www.chinapress.com.my/content_new.asp?dt=2008-07-28&sec=business&art=0728bs02.txt

scsiang82

Wednesday July 30, 2008 MYT 5:26:42 PM
Mah Sing’s Q2 profit up 82%


KUALA LUMPUR: Mah Sing Group Bhd reported profit after tax after minority interest of RM37.3mil for the second quarter ended June 30, on the back RM195.4mil revenue.

This represented an 82% increase over the RM20.4mil in the corresponding quarter of last year and a 67% increase over the RM22.3mil over the first quarter ended March 31, it said in a statement.

Mah Sing attributed the improvement to contributions from both residential and commercial projects.

It has a cash pile of RM145.76mil and low gearing of only 0.14 times as at June 30, it said, allowing the Group to hypothetically raise an additional RM250mil to reach an optimal gearing level of 0.5 times.

It received RM42mil cash for its The Icon Jalan Tun Razak project, with the remaining balance of RM195mil to be received, which would put it in an even better cash position for further Expansion, Mah Sing claimed.

To date, 18 of 20 levels have been constructed, with completion expected in the first half of 2009.

In 2007, the Group locked in a landbank that could give them a GDV in excess of RM2bil, and this year purchased one piece of land in Johor Baru next to its existing matured township development Sri Pulai Perdana to capture spillover demand that gives it a GDV of approximately RM185mil.

It will be looking into Sabah and Sarawak and any potential growth locations overseas. The Group said it currently has nine projects in the Klang Valley, four in Johor Bahru in Iskandar Malaysia and one in Penang.

“We can hunt for good land for our expansion, but we are not in a hurry as we have sufficient locked-in sales to last us for another two years,” said Mah Sing group managing director and group chief executive Datuk Seri Leong Hoy Kum.

“Our undeveloped land bank of 574 acres worth RM2.9bil will be developed over the next five to seven years.”

Mah Sing has unbilled sales of approximately RM1bil as at June 30 2008 and a remaining GDV of RM2.9bil.

“We are reasonably sheltered with our strong cashflow and high locked in sales which will buffer us for the next few years. We are also lucky that due to our pre-planning and pre-construction, we are able to continue launching our products at pre-material increase prices.

“Moving forward, we will continue to be prudent while taking calculated risks,” said Leong.

http://biz.thestar.com.my/news/story.asp?file=/2008/7/30/business/20080730151613&sec=business

scsiang82

SUMMARY OF KEY FINANCIAL INFORMATION

30/06/2008

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30/06/2008	30/06/2007	30/06/2008	30/06/2007
		RM'000	RM'000	RM'000	RM'000
1	Revenue	195,421	144,537	336,086	286,098
2	Profit/(loss) before tax	52,861	29,065	83,776	54,061
3	Profit/(loss) for the period	37,331	20,883	59,648	39,044
4	Profit/(loss) attributable to ordinary equity holders of the parent	37,247	20,421	59,556	38,335
5	Basic earnings/(loss) per share (sen)	5.99	4.00	9.58	8.10
6	Proposed/Declared dividend per share (sen)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent (RM)	1.1100		1.0100

Note: For full text of the above announcement, please access Bursa Malaysia website at www.bursamalaysia.com

Remarks :

http://announcements.bursamalaysia.com/EDMS/edmsweb.nsf/LsvAllByID/48256E5D00102DF448257496001A11CA?OpenDocument

hooray86

看来没有下错注。

blackcat98

Mah Sing’s Q2 profit up 82%


KUALA LUMPUR: Mah Sing Group Bhd reported profit after tax after minority interest of RM37.3mil for the second quarter ended June 30, on the back RM195.4mil revenue.

This represented an 82% increase over the RM20.4mil in the corresponding quarter of last year and a 67% increase over the RM22.3mil over the first quarter ended March 31, it said in a statement.

Mah Sing attributed the improvement to contributions from both residential and commercial projects.

It has a cash pile of RM145.76mil and low gearing of only 0.14 times as at June 30, it said, allowing the Group to hypothetically raise an additional RM250mil to reach an optimal gearing level of 0.5 times.

It received RM42mil cash for its The Icon Jalan Tun Razak project, with the remaining balance of RM195mil to be received, which would put it in an even better cash position for further Expansion, Mah Sing claimed.

To date, 18 of 20 levels have been constructed, with completion expected in the first half of 2009.

In 2007, the Group locked in a landbank that could give them a GDV in excess of RM2bil, and this year purchased one piece of land in Johor Baru next to its existing matured township development Sri Pulai Perdana to capture spillover demand that gives it a GDV of approximately RM185mil.

It will be looking into Sabah and Sarawak and any potential growth locations overseas. The Group said it currently has nine projects in the Klang Valley, four in Johor Bahru in Iskandar Malaysia and one in Penang.

“We can hunt for good land for our expansion, but we are not in a hurry as we have sufficient locked-in sales to last us for another two years,” said Mah Sing group managing director and group chief executive Datuk Seri Leong Hoy Kum.

“Our undeveloped land bank of 574 acres worth RM2.9bil will be developed over the next five to seven years.”

Mah Sing has unbilled sales of approximately RM1bil as at June 30 2008 and a remaining GDV of RM2.9bil.

“We are reasonably sheltered with our strong cashflow and high locked in sales which will buffer us for the next few years. We are also lucky that due to our pre-planning and pre-construction, we are able to continue launching our products at pre-material increase prices.

“Moving forward, we will continue to be prudent while taking calculated risks,” said Leong.

jackphang

长期来说，mahsing的风险控制还是处于可控制的范围内，我们等待越南的局势稳定后就可以期待mahsing在外头的发展了。

ThermoFisher

Mah Sing Group
Strong 2Q boosted by The Icon, Tun Razak

Buy (unchanged)
TP: RM1.74 (previously RM1.90)
Current Price: RM1.49

- Mah Sing (MSG) reported a 2Q08 net profit of RM37.2m (+82.4% YoY, +67% QoQ), within our and consensus expectations.

- Expect 2H net profit to normalize as 2Q was boosted by accumulated revenue recognition of The Icon, Tun Razak's (TITR) (East Wing) as the SPA with KFH became unconditional.

-  Maintain Buy with a lowered TP of RM1.74 (previously RM1.90) as we roll over our valuation period to mid-2010 on unchanged 9x PER.

Jump in 2Q net profit. MSG recorded a jump in 2Q08 net profit (+82.4% YoY,
+67% QoQ). This was achieved on RM195m in revenue (+35% YoY, +38.9%
QoQ) with 14 ongoing development projects. Despite rising construction cost
concerns, EBIT margin in 2Q improved to 27.5% (vs. 22.9% in 1Q08 and
20.6% in 2Q07), boosted by the high margin development commercial projects
like TITR. For IH08, net profit was RM59.6m (+55.4% YoY), and met 54.9% of
our 2008 forecast. 1H08 EBIT margin was 25.6%, up 6 ppt YoY.
Results within expectation. We highlighted this possible jump in 2Q earnings
in our report dated 30 May ’08, boosted by accumulated revenue recognition of
TITR (East Wing) development as MSG fulfilled the conditions precedent of the
Sales and Purchase Agreement (SPA) signed with KFH last year. To-date,
construction work has progressed well, having completed level 18 of 20, and
slated for completion in mid-2009. We estimate that MSG recognised some
RM55m in revenue for TITR (East & West Wing combined) in 2Q08.
Softer 2H. We are maintaining our FY08 net profit forecast in anticipation of: (i)
a normalised revenue recognition for TITR and (ii) potential margin squeeze on
rising raw material cost. MSG has revised down its target launches for 2008 to
RM614m from RM706m previously (-13%). Legenda@ Southbay launch has
been deferred to 2009 pending the authorities’ approval while better-thanexpected
take-up at its Southgate project (achieved RM107m sales with since
launch in Mar ’08) has prompted management to expedite new launches.
Maintain Buy. In 2Q08, MSG enjoyed brisk sales of RM147m (+32% YoY,
+27% QoQ), bringing total 1H08 new sales to RM263m (+19% YoY). With an
unbilled sales of RM1b, MSG’s earnings are visible over the next 3 years. Our
FY10 forecast has yet to impute future landbanking and the imminent Vietnam
venture, which could lead to an upward earnings revision. MSG's FY07 final
gross DPS of 8sen will go ex- today, while we expect a 5.5% gross yield for
2008.

Mah Sing – Summary Earnings Table
FYE Dec (RM m)                                         2006A 2007A 2008F 2009F 2010F
Turnover                                                           495.6 573.4 702.8 826.7 736.2
EBITDA                                                            107.2 132.6 167.4 200.7 171.7
Pretax profit                                                        93.3 117.7 150.4 183.7 154.7
Net profit                                                             65.4 81.1 108.5 132.4 109.9
Net profit - Ex EI                                                 65.4 81.1 108.5 132.4 109.9
EPS - Ex EI (sen)                                                    17.9 14.8 17.5 21.3 17.7
FD EPS (sen)                                                          14.3 14.1 17.2 21.0 17.4
FD EPS growth (%)                                               30.9 (1.3) 22.1 22.0 (17.0)
PER (x)                                                                          8.3 10.1 8.5 7.0 8.4
FD PER (x)                                                                  10.4 10.6 8.7 7.1 8.5
EV / EBITDA (x)                                                              5.8 6.6 5.0 3.6 3.7
Div. Yield (%)                                                                   3.4 5.4 5.5 6.7 5.5
Gearing (%)                                                             24.8 (7.4) (13.0) (25.6) (34.7)
ROE (%)                                                                        20.7 12.9 15.5 16.8 12.8
Net profit revision (%) n.a. n.a. n.a. n.a. n.a.
Consensus Net Profit (RM m) n.a. n.a. 105.9 142.1 158.8

Source: Aseambankers

johnny-chia

业绩优异赚益可观　马星集团可作投资 二零零八年八月一日 晚上十一时一分

（吉隆坡1日讯）亚欧美投资银行在一份投资报告中，建议投资者“买入”马星集团有限公司（MAHSING），并将目标价由之前的1.90令吉调低至1.74令吉，这较现有股价出现20.83%的潜在赚益。该目标价是根据截至2010年中估值期限的9倍本益比计算。
在今年第2季，马星集团在销售中大获丰收，一共取得总值1亿4700万令吉（按年升32%，按季升27%），因此今年上半年的新屋销售达到2亿6300万令吉（按年升19%）。而未发单销售高达10亿令吉，由此可见该集团在未来3年的盈利前景是非常明朗的。在该集团2010年的财测中，亚欧美投银还未将未来的地库与越南的投资列入考虑范围，因此这可使该集团的盈利预测有可能向上修订。它还预测该集团在今年的税前收益率是5.5%。
马星集团在今年第2季取得3720万令吉的净利（按年增82.4%，按季增67%），是在该投银与市场预料中。净利猛增主要是由于在进行中的14项发展计划下取得1亿9500万令吉的营业额（按年增35%，按季增38.9%）。尽管关注建筑成本上升，但是第2季的税前赚幅改善至27.5%（今年第1季是22.9%，07年第2季是20.6%），主要是受到发展一些高赚幅的商业项目所赐。今年上半年，马星集团的净利是5960万令吉（按年增55.4%），这符合对该集团的08财政年所预测的净利增加54.9%。在上半年，税前赚幅是25.6%，按年起6个百分点。
马星集团在第2季的盈利猛增，主要是受到The Icon，Tun Razak's（东翼）的累积收益确认所推动，因为该集团履行去年与KFH签订的买卖协议中的条款。截至现时为止，上述工程进展顺利，并已兴建至18楼，预订在2009年中竣工。亚欧美投银估计，该集团在今年第2季于The Icon，Tun Razak's（东与西翼）中，确认了大约5500万令吉的收益。
亚欧美投银维持马星集团的08财政年净利预测，主要是期待正常化The Icon，Tun Razak's的收益确认，以及原料价格上升引致潜在赚幅受压。该集团已下修它的08年收益目标由之前的7亿零600万令吉减少13%至6亿1400万令吉。Legenda@ Southbay将延迟至2009年推出，以等待有关当局批准。而在南门发展计划中，其销售较预测为佳，自今年3月推出以来，一共取得1亿零700万令吉的销售，这激励该集团管理层加快推出新产业单位。

choo_chooo

me too

-CLEMENT-

mahsing星期一会升。。。但是升幅很小超级的小。。。。。

gyeserlim

原帖由 -CLEMENT- 于 3-8-2008 12:01 AM 发表
mahsing星期一会升。。。但是升幅很小超级的小。。。。。

你又知？？？

choo_chooo

公布了酱理想的业绩，为何股价就是不动？？？

hooray86

老板梁海金买了许多自己的股票。

choo_chooo

原帖由 hooray86 于 5-8-2008 10:38 PM 发表
老板梁海金买了许多自己的股票。

意思是？？？？