Thursday, December 31, 2009

Happy New Year

Wishing everyone a Happy & Prosperous New Year 2010.


(Source: Screenshots)

6 comments:

james said...

Hi Alex,

Wishing you and your loved ones a great year ahead.

Best regards,
James

AlexP said...

Happy new year and thanks for the wonderful blog!

james said...

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.

Alex Lu said...

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.

Alex Lu said...

Hi Alex,

Thanks for the warm wishes. I am happy that you enjoy visiting the blog.

Ivan said...

Happy new year :)