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DATE: 10 JANUARY 2018
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THE STOCK : MMCCORP
MMC CORPORATION BHD
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Current Price : RM2.20
Target Price : RM2.50 & RM2.80
Warrant : MMCCORP-C8 (0.20cts) : TP '0.40cts++++++'
This stock has been alerted and called today by Kim. Its massive moved. Started at RM2.06 and hit our 1st TP RM2.30. Next target as above.
Tomorrow this stock still
in our radar and expect to move higher to test again RM2.30 as a strong
resistance. Success to do so, will bring it higher to test Kim TP RM2.50
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WHAT KIM SAY?
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"MMC
Corp Bhd’s order book remains robust at RM15bil, enough to keep it busy
for the next five years. Nothing impossible to fly back at RM3.00 range
soon". - Kim Spartan
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THE PROFILE
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MMC Corporation Berhad an investment holding company, operates as a utility and infrastructure company primarily in Malaysia. The company specializes in transportation and logistics, energy and utilities, and engineering and construction businesses. Its containers terminal operations include the transhipment hub in South East Asia, which consist a fleet of approximately 500 container vessels; a multi-purpose terminal in Johor that handles both containerized and bulk cargo; and a concession to operate the SMART motorway in Kuala Lumpur city. The company also operates as an independent power producer with a network of power plants located in the Peninsular Malaysia.
In addition, it is involved in the supply
of natural gas and liquefied petroleum gas to industries, commercial
businesses, and homes, as well as is engaged in banking, finance,
investment advisory, securities, real estate management, and venture
capital activities, as well as focuses on waste management services,
which include the conversion of municipal solid waste to energy.
Further, it provides engineering consultancy services related to
offshore oil and gas production and processing facilities, on-shore
receiving facilities and loading terminals, and refineries and
petrochemical plants to the oil and gas, and petrochemical industries.
MMC Corporation also designs and builds various engineering solutions in
the areas of civil and structural, plant design and mechanical, and
electrical and process control.
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THE KEYNOTE
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JAN 2017
MMCCORP - MMC Corp Bhd, controlled by tycoon Tan Sri Syed Mokhtar Al-Bukhary, is buying a 70% stake in KMB Seaport Sdn Bhd – operator of Tanjung Bruas Port in Melaka – from its largest shareholder Seaport Terminal (Johore) Sdn Bhd for RM21 million cash. MMC said this is part of its effort to maintain its position as a key player in the country's port industry.
MMCCORP - MMC Corp Bhd, controlled by tycoon Tan Sri Syed Mokhtar Al-Bukhary, is buying a 70% stake in KMB Seaport Sdn Bhd – operator of Tanjung Bruas Port in Melaka – from its largest shareholder Seaport Terminal (Johore) Sdn Bhd for RM21 million cash. MMC said this is part of its effort to maintain its position as a key player in the country's port industry.
MMCCORP -
MMC Corp Bhd's wholly-owned unit MMC Technical Services Sdn Bhd (MMCTS)
plans to dispose of 100% beneficial interest in MMC Oil & Gas
Engineering Sdn Bhd for RM50 million in its bid to focus on its core
businesses
MMCCORP -
The protracted dispute between the MMC Corporation-Gamuda joint venture
and Wayss & Freytag (Malaysia) Sdn Bhd, dating back to 2008 over
the SMART Tunnel project has been settled. Gamuda Bhd announced the MMC
Engineering Group-Gamuda Joint Venture (MMCEG-Gamuda JV) had agreed to
pay Wayss & Freytag a lump sum of RM109.14mil inclusive of
interest as full and final settlement of the arbitration proceedings.
FEB 2017
MMCCORP -
Johor Port Bhd, a member of the MMC Group, has signed a memorandum of
understanding (MoU) with PT Pelabuhan Indonesia IV (Pelindo IV) that
will involve several collaborations, including a sister port partnership
programme. The MoU will also pave the way for Johor Port to share its
experience and expertise with Pelindo IV in the areas of port training
services, consultation on container and conventional operations and
collaboration on inter-port logistics services.
MMCCORP -
MMC Corp Bhd saw its net profit jump 52% to RM267.41 million or 8.78
sen per share for the fourth quarter ended December 31, 2016 (4QFY16)
from RM176.01 million or 5.78 sen per share in 4QFY15. Revenue soared
93% to RM1.85 billion from RM958.49 million in 4QFY15, the group said in
a filing with the stock exchange. Net profit for the full financial
year, however, plunged 67% to RM549.66 million from RM1.67 billion in
FY15 while revenue fell 8% to RM4.63 billion from RM5.06 billion.
APR 2017
MMCCORP - MMC Corporation Bhd (MMC) is gunning for total ownership of Penang Port Sdn Bhd (PPSB) by proposing to acquire the remaining 51 per cent stake of the company, in addition to its existing 49 per cent stake that was newly acquired. Where the leading utilities and infrastructure group revealed the total cash consideration of the proposed acquisition to be RM220 million.
MAY 2017
MMCCORP - MMC
Corp Bhd expects to hand over the loss-making ferry operations linking
Penang island and Butterworth, to Prasarana Malaysia Bhd within the next
two months. It was reported Prasarana was a little hesitant about
taking over the ferry operations, as it would be entering unfamiliar
territory and also because the operations were making losses
MMCCORP - Sime
Darby Bhd is teaming up with MMC Corp Bhd in port management and
establishing a sister port relationship to facilitate halal shipments
between Malaysia and China. The companies jointly announced that both
their subsidiaries — Northport Malaysia Bhd and Weifang Sime Darby Port
Co Ltd — have signed a Memorandum of Understanding to seal the
partnership.
MMCCORP - MMC
Corp Bhd recorded a 7.4% increase in net profit for the first quarter
at RM55.1mil, despite revenue slipping marginally by 1.1% to RM925.2mil.
The group said the lower revenue was mainly due to the substantial
completion of the Klang Valley Mass Rapid Transit (KVMRT)-Sungai
Buloh-Kajang (SBK) Line in 2016, coupled with lower throughput volume at
Pelabuhan Tanjung Pelepas (PTP), attributed to the change in network
strategies of certain customers.
JUL 2017
MMCCORP - MMC
Corp Bhd announced its wholly-owned unit Johor Port Bhd has disposed
its 5.1 million shares — equivalent to a 51% stake — in Kotug Asia Sdn
Bhd to Kotug Malaysia Sdn Bhd for RM4.1 million cash, which is part of
its ongoing internal restructuring exercise.
MMCCORP - MMC
Corp Bhd's 70%-owned subsidiary Pelabuhan Tanjung Pelepas Sdn Bhd (PTP)
has filed a lawsuit against Rising Star Shipping Sdn Bhd (RSS) and The
Shipowners' Mutual Protection and Indemnity Association (Luxembourg)
Singapore Branch seeking RM31.86 million in damages for an oil spill at
the port in Johor.
MMCCORP - MMC
Corp Bhd is working with a Japanese consortium to provide mechanical
and engineering solutions for the High Speed Rail (HSR) project that the
group is bidding for, said its group managing director Datuk Seri Che
Khalib Mohamad Noh.
AUG 2017
MMCCORP - Diversified
conglomerate MMC Corp Bhd has confirmed a report by The Edge Malaysia
weekly that it is in talks with Sabah-controlled Suria Capital Holdings
Bhd to take up a stake in the latter’s wholly-owned Sabah Ports Sdn Bhd.
MMCCORP - MMC
Corporations Bhd’s subsidiary Southern Water Technology Sdn Bhd has
been served with a winding up petition over an arbitration award of
RM10.87mil by Suria 2000 Sdn Bhd. The group with diversified operations
including ports, energy and construction said the petition was for the
recognition and enforcement of a High Court order dated May 8, 2017 for
the award dated Oct 27, 2016 totaling RM10.87mil.
MMCCORP - MMC
Corp Bhd’s net profit fell 49.7% to RM62.92 million in the second
quarter ended June 30, 2017 (2QFY17) from RM125.02 million a year ago,
mainly due to the absence of gain on the sale of land at Senai Airport
Free Industrial Zone, as well as the substantial completion of the Klang
Valley’s Mass Rail Transit’s Sungai Buloh-Kajang line (KVMRT-SBK) last
year.
SEP 2017
MMCCORP - MMC
Corp Bhd’s unit Northport (M) Bhd has inked a strategic alliance with
two Sarawak-based shipping companies to increase shipping service
frequencies in East Malaysia. In a statement dated Sept 4, it said
Northport together with Shin Yang Shipping Sdn Bhd and Harbour-Link
Group Berhad have signed a Memorandum of Understanding (MoU) to
establish a strategic alliance called The East Malaysia Network or TEAM
Network. Under the agreement, Northport is expected to provide efficient
and effective port services, as well as high terminal productivity.
NOV 2017
MMCCORP - Utilities
and infrastructure group MMC Corp Bhd’s third-quarter net profit fell
78.9% year-on-year after a RM98 million one-off provision for impairment
on its storm water management and road tunnel project, as a result of
lower projected traffic volume. The lower quarterly earnings were also
due to the absence of a gain on disposal of land from MMC Tepat Teknik
Sdn Bhd. MMC saw its net profit fall to RM22.29 million in the three
months ended Sept 30, 2017 (3QFY17) from RM105.89 million a year ago.
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THE FINANCIAL
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Regards,
Kim Stockwatch
Telegram : https://www.telegram.me/kimstock (Real live time trading)
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