PROPERTY
Background
Menang Corp. M Bhd, through its subsidiaries, engages in developing, constructing, and letting residential and commercial properties, and provision of management services in Malaysia. It also operates as a licensed moneylender and as an insurance agent. The company undertakes landscaping projects and turf farming and operates recreational facilities, as well as involves in leasing and hire-purchase activities. The company is based in Kuala Lumpur, Malaysia.
The Company operates in three segments: Property development, which is engaged in development of residential and commercial properties; Project management and investment holding, which is engaged in Investment holding, letting out of properties and provision for management services, and Property construction, which is engaged in Construction of properties. The Company’s subsidiaries include Menang Development (M) Sdn. Bhd., Menang Leasing and Credit (M) Sdn. Bhd., Menang Management Services (M) Sdn. Bhd., Menang Properties (M) Sdn. Bhd., Menang Aquatics Sdn. Bhd., Menang Construction (M) Sdn. Bhd., Equitiplus Sdn. Bhd., Hitung Panjang Sdn. Bhd., Temeris Holdings Sdn. Bhd., Seremban 3 Paradise Valley Golf Resort Sdn. Bhd. and Protokol Elegan Sdn. Bhd
Financial
From Quarter result, we can see the company manages to continue to be in profit condition after a negative result in 2011. We are expecting 4th Quarter to be in profit as well thus boost the share price.
Quarter result expected to be release in August.
Overall
| Market Cap (Mil.): | RM93.49 | |
| Shares Outstanding (Mil.): | 267.11 | |
| Dividend: | -- | |
| Yield (%): | -- |
NTA: 0.6552
Financials
| MNCS.KL | Industry | Sector | |
|---|---|---|---|
| P/E (TTM): | 3.83 | 27.28 | 16.36 |
| EPS (TTM): | 0.09 | -- | -- |
| ROI: | 13.67 | 12.02 | 1.44 |
| ROE: | 15.38 | 13.94 | 23.50 |
Project
The Group’s participation in our first Private Finance Initiatives (PFI) project, a RM300.0 million UiTM Campus at Seremban 3 Concession is expected to be completed in early 2014. The successful delivery of this Concession will provide a stable cashflow for the next 20 years from this Build, Lease, Transfer and Maintain project.
The Group had also successfully secured another two PFI projects totalling RM361 million during the period under review, the details of which are as follows:-
i) The proposed UiTM Campus at Puncak Alam, Selangor for RM260 million. This project is located within the existing 1,000 acres UiTM Puncak Alam campus precinct, Mukim Jeram, Selangor is only approximately 50 km from Kuala Lumpur. The Campus is designed to cater for 2 faculties: the Faculty of Architecture, Planning and Surveying and the Faculty of Art & Design with a total capacity of 3000 students.
ii) The proposed UiTM Training Institute at Nilai, Negeri Sembilan for RM101 million. This project is located in Bandar Baru Enstek, Negeri Sembilan, approximately 15 minutes from the Kuala Lumpur International Airport and half an hour drive from Putrajaya. The Training Institute is designed specifically for UiTM faculty and staff and for a capacity of 650 trainees.
These 3 PFI projects are expected to be progressively completed within the next 3 to 4 years requiring substantial senior management’s attention, supervision and efforts. A lot of hard work is ahead of us. On successful delivery, the Group can enjoy 2 steady income streams from the lease of the facility and maintenance charges from each project for the subsequent 20 years.
Technical Chart
By Quarterly
By Daily
R1= 0.38
R2= 0.405