This is a personal weblog, reflecting my personal views and not the views of anyone or any organization, which I may be affiliated to. All information provided here, including recommendations (if any), should be treated for informational purposes only. The author should not be held liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein.
Thursday, December 31, 2009
Happy New Year
Wishing everyone a Happy & Prosperous New Year 2010.
What are your thoughts on Mitrajaya? Latest quarter Q3'09 EPS is 15.33sen. I looked up the net and found that Mitra's Kiara9 has recorded brisk sales which explains the jump in earnings.
Mitra's financial performance is quite commendable for 9-month ended 30/9/2009. It recorded a net profit of RM23.4 million on turnover of RM170 million. Annualized EPS could be about 25 sen- giving the stock a PER of 2.3 times. It closed at RM0.565 on 31/12/2008.
Its financial position is also quite healthy with Current ratio at 2.1 times, while Borrowings to Equity at 0.4 times.
Mitra is in a short-term uptrend line, with support at RM0.55. However, it is still in a long-term downtrend, with resistance at RM0.75. I think a good entry is at RM0.50-55 and you must be very patient with this stock. It is likely to be a long-term stock.
6 comments:
Hi Alex,
Wishing you and your loved ones a great year ahead.
Best regards,
James
Happy new year and thanks for the wonderful blog!
Hi Alex,
What are your thoughts on Mitrajaya? Latest quarter Q3'09 EPS is 15.33sen. I looked up the net and found that Mitra's Kiara9 has recorded brisk sales which explains the jump in earnings.
Hi James,
Thank you for warm wishes.
Mitra's financial performance is quite commendable for 9-month ended 30/9/2009. It recorded a net profit of RM23.4 million on turnover of RM170 million. Annualized EPS could be about 25 sen- giving the stock a PER of 2.3 times. It closed at RM0.565 on 31/12/2008.
Its financial position is also quite healthy with Current ratio at 2.1 times, while Borrowings to Equity at 0.4 times.
Mitra is in a short-term uptrend line, with support at RM0.55. However, it is still in a long-term downtrend, with resistance at RM0.75. I think a good entry is at RM0.50-55 and you must be very patient with this stock. It is likely to be a long-term stock.
Hi Alex,
Thanks for the warm wishes. I am happy that you enjoy visiting the blog.
Happy new year :)
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