Monday, July 19, 2010

MBSB- uptrend to continue

MBSB has just surpassed its recent high of RM1.35. This could signal the continuation of its prior uptrend. Its immediate resistance would be at RM1.60 & then RM1.70.


Chart: MBSB's weekly chart as at July 19, 2010_10.00am (Source: Quickchart)

Recently, MBSB reported a very good set of results for its 1Q2010 (QE31/3/2010). Its net profit jumped to RM43.2 million from RM5.8 million last year, while turnover increased to RM279 million from RM104 million. The better performance was attributable to growth in the personal financing business. Based on this set of results, its annualized EPS for FY2010 would be about 24.7 sen. At RM1.38, MBSB is trading at a PER of 5.6 times.

Based on the above, MBSB could be a good trading BUY. In view of the uncertainty in the overall market, you need to exercise your discretion on trading activity at the present moment.
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4 comments:

  1. LimMonday, July 19, 2010 11:51:00 AM

    Hi Alex,

    Any comment on JCY? Wonder why Unisem has move up quite a lot and JCY remains sideline despite in the same industry?

    Thanks!

    ReplyDelete
  2. Alex LuMonday, July 19, 2010 12:18:00 PM

    Hi Lim,

    JCY looks attractive at this price. Sometime a stock can defy all our expectation by just hanging around. There is nothing much one can say or do about it. On the other hand, Unisem is moving up. The reason is the stock has just posted the entitlement dates for its 3-for-10 Bonus Issue & 1-for-4 Right Issue of warrant. More freebies to oil the wheels for one more rally, maybe...

    ReplyDelete
  3. Kai-Foong Kok 郭继锋Tuesday, July 20, 2010 3:56:00 PM

    What is the fair value for MBSB?
    Thanks!

    ReplyDelete
  4. Marchiii~Friday, July 23, 2010 5:56:00 PM

    yalor, i quite worry MBSB and keep drop this 2 days.. coz i got this counter ticket

    ReplyDelete