Cfm9566

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Joined Jul 2021

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Cfm9566 replied to comment on MUHIBAH.
Muhibah Q1 PROFIT BEFORE TAX comparison:
(RM’000)

FY 2024: 30,924 (include one off items gain of 8,332)
FY 2025: 32,672 (include one off items loss of 3,795)

If take out all one off items, the core PBT has increased from 22.59m (24Q1) to 36.47m (25Q1); improve 61% Y-Y
1 week · translate
Cfm9566 replied to comment on MUHIBAH.
PROPOSED 3cent dividend for FY 24;
pending approval in upcoming AGM
1 week · translate
Cfm9566 commented on MUHIBAH.
Muhibah core PBT (profit before tax & minority interest + exclude all one off items)

FY25
Q1: 36m

FY24
Q4: 96m
Q3: 23m
Q2: 39m
Q1: 23m

FY23
Q4: 75m
Q3: 37m
Q2: 5m
Q1: 11m

FY22
Q4: 24m
Q3: 13m
Q2: 3m
Q1: (10m)
1 week · translate
Cfm9566 commented on MUHIBAH.
Favco Core PBT (exclude one off items)

FY25
Q1: 18m

FY24
Q4: 40m
Q3: 27m
Q2: 15m
Q1: 15m

FY23
Q4: 51m
Q3: 22m
Q2: 7m
Q1: 10m

FY22
Q4: 38m
Q3: 11m
Q2: 8m
Q1: 3m
1 week · translate
Cfm9566 replied to comment on MUHIBAH.
Last year concession division (mainly airport) contribute > 100m profit !

This year the airport traffic expect to growth further 20%.

With the confirmation of 15 years operating rights at new airport (higher capacity somemore) ~ so ridiculous the share price trading at current level !!
1 month · translate
Cfm9566 commented on MUHIBAH.
Key take-way from Annual Report

1. SCA (associate company) has secured the operating rights of new Techo International Airport for 15 years + compensation of USD 140m

2. Favco has secured crane orders from Saudi’s Jeddah Tower (upcoming world tallest building)

3. dividend : 3 cent
1 month · translate
Cfm9566 commented on MUHIBAH.
Cambodia airport traffic 25Q1:

By passengers (in millions): 1.442m (+22% y-y)
24Q1: 1.181m
24Q2: 1.136m
24Q3: 1.194m
24Q4: 1.328m

By number of commercial flights: 12,711 (+22% y-y)
24Q1: 10,391
24Q2: 10,544
24Q3: 10,724
24Q4: 11,438
1 month · translate
Cfm9566 replied to comment on MUHIBAH.
RM 1.5mil can make price down 13%!
If the 50mil apply share buy back can limit up few round eh !!
2 months · translate
Cfm9566 replied to comment on MUHIBAH.
Dividend yield > 5% alrdy
+ airport concessions recurring income cum defensive

With the current market cap, airport’s net profit x 4 years alrdy cover it !
2 months · translate
Cfm9566 replied to comment on MUHIBAH.
Pros: Muhibah’s profit will increase slightly after this acquisition

Cons: bought at high price and there are plenty of better option in the market now
2 months · translate
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