Hero Square Hungary

[chialc88]

Micro Mechanics (Holdings) Pte Ltd 27 Jan 2018 - Release Q2 18 Result
likely to be announced at 11+am
link

While waiting for the result (exciting...),
just click on the following video,
sit back and relax...
somewhere in time:
you had been a proud owner of a fantastic business

[chialc88]

BAU: Micro-Mechanics 1H18 Result
US overtake Malaysia as 2nd highest revenue country.
Watch this space carefully for transformation beyond CMA growth.

Interim dividend of 4 cents

Ex date:     1st Feb 2018
Record date: 5th Feb 2018
Pay on:      13th Feb 2018 

[weijian]

hi chialc,

I hope you could keep this thread relevant to the title - ie. the same "dont be OOT" standard applies to both investment and non-investment threads.

i understand your dilemma for nt posting in MM thread, but in fact thoughtful ones are welcomed any time.

How about setting up a blog to pen down your thoughts? u could do anything u want there!

Moderator

[chialc88]

谢谢大家Thank you everyone Terima kasih semuanya அனைவருக்கும் நன்றி

Thank you WeiJian (Moderator) for your suggestion.
I suppose if you find my post thoughtful, you could always move it to the right thread, 
can't you?

I mentioned many times that investment is a long journey and I'm here to learn.
For those *things* that I pen down, they are just my random thoughts.
I doubt that they have any investment merit.
It's simply something I read, something I think and something I discover.

I doubt I am going to start a blog as I always take valuebuddies as my blog.


I guess I'm wrong.

Please continue to share generously so that all our valuebuddies can benefits from you kind act.

I would like to take my leave from valuebuddies and leave it to you and other sifu then.

Adios... Sayonara...
Enjoy:

[weijian]

Hi chialc,

You missed the point of my message. As a Moderator, i don't expect myself to constantly having to moderate an "old-bie" 's posts. I think it is reasonable that you understand the "what to do" and "what not to do" on VB.com. I have made it clear in the last post to avoid OOT posts for both investment and non-investment threads.

Moderator

[chialc88]

Good morning valuebuddies.

Wake up to the birds and insects crying cheerfully in the woods,
I wish everyone a good day ahead.

With the volatile market and clear downtrends,
a lot of our valuebuddies took their eyes off their investment journey,
going for something else more fun and more meaningful.

... that, including me, of course.

From Micro Mechanics chart below, 
we could see the clear downtrend of the stock price.

down to $1.60 from 22 Nov to  Nov 2018:


I see Micro Mechanics as a company built to last.

for you guys out there who is not able to attend latest AGM,
you could read the meeting minutes here:
link

I thought of doing some summary
but think otherwise.

If you can't even click on the link then what's the point of reading?

In any case, I had fall in love with Micro Mechanics.

Won't you, too?

[chialc88]

Micro Mechanics 2Q19 Result will be released on 26 Jan 2019 (likely during lunch break hour).
link

love it!

[chialc88]

Good morning valuebuddies.
I'm glad to be woke up by the birds chirping happily in the wood.
If you're lucky enough, woke up by the lion (dance) too.

Such a bright and cooling morning, let me start by wishing every valuebuddies:
Gong Xi Fa Cai.
Buy toto, strike toto.
Buy 4D, strike 4D.
Buy more, strike more.

---

Many season valuebuddies will view analyst report as supplementary info.
To majority of us, analyst report is actually a must read.

Of course, what and how we make use of the forecast data and recommendations,
varies from person to person and from time to time.

I had extracted the key points from last 3 years analyst reports
as a reminder of the passing time passage for Micro Mechanics.
What had happened and how an analyst (in particular Paul Chew) see MM's business case;
how he started being too optimistic in predicting good results in Sep 2017
until Jan 2019 when his expectation is trimmed down again and again.

William TNG is the guy everyone should watch out.
From the price chart below, William wrote an excellent piece of work for 5DD back in April 2016 when it's price was 80 cents.

One year later, Teh Kwong Yew follow up with another piece of good work in Aug 2017.

Then, Paul Chew took over in Sep 2017 and st to cover 5DD.



20160406 William Tng cimb

Tool-making specialist
a. Long-time supplier of high-precision tools for semincon A&T
b. Higher penetration and increasing productivity spur EPS growth
c. Turnaround of CMA - a potential catalyst

20170822 Teh Kwong Yew maybank-kim-eng[url=http://micromechanics.listedcompany.com/misc/April16-MMH-CIMB.pdf][/url]
Chip equipment tool specialist
a. Machine tool demand buoyed by booming chip sales
b. One-stop shop for micro-prcision tooling needs
c. As long as chips are made, tools are required
d. Valuation and dividend yield

20170922 Paul Chew phillip-securities 
High margin, high ROE consumables business
a. GP 60%, ROE 30% consumables business with 15-year earnings CAGR of 20%
b. Expect strong earnings momentum from current surge in semiconductor industry sales
c. $2.00 target price, Initiate BUY

20171131 Paul Chew phillip-securities 
A record in both revenue and profits
a. 1Q18 revenue and earnings were double the growth rate we expected
b. Raise our FY18e forecast earnings by 18% to S$21.7mn, sales growth from 11% to 25%
c. $2.50 target price

20171218 Paul Chew phillip-securities
From liquidity to a business cycle, The Phillip Absolute 10
a. Will register earnings growth at attractive valuations
b. $2.50 target price

20171218 Paul Chew phillip-securities
A Turbocharged 2018
a. 1Q18 earning rose 53%, we expect another stellar quarter of earnings
b. 15-year track record of 20% earings CAGR with gross profit margin averaging 55%
c. $2.50 target price

20180130 Paul Chew phillip-securities
Record Quarter but a deceleration in Momentunm
a. 2Q18 revenue below expectation. reducing FY18e forecast earning by 7%
b. weak USD hurt top-line momentum in 2Q18
c. $2.50 target price
d. downgrade to ACCUMULATE after share price surge

20180502 Paul Chew phillip-securities 
Healthy Growth Against Aggressive Expectations
a. 3Q18 revenue fall short of expectation, trimming FY18e forecast earning by 10%
b. Margin hurt by capaicty expansion and accounting changes
c. $2.30 target price
d. upgrade to buy after share price correction

20180829 Paul Chew phillip-securities
Consumables provide resiliency
a. 4Q18 revenue 3% below expectation. trimming FY19e forecast earning by 14%
b. Margin hurt by depreciation (as capex doubled in FY18) and weaker sales in SG/Malaysia
c. $2.30 target price
d. Resilient product line and surpise upside on front-end business

20181101 Paul Chew phillip-securities
Cyclical slowdown, but still attractive metrics
a. Revenue below expectation. trimming FY19e forecast earning by 5%
b. Revenue down in line with industry but gross profit margins still 60%
c. $2.05 target price
d. Maintain BUY recommendation

20190130 Paul Chew phillip-securities
A difficult comp
a. 2Q19 revenue below expectation. lowering FY19e forecast revenue by 5%
b. Top-line hurt by slowdown semincon demand, US-China trade
c. $1.70 target price
d. lower recommendation to ACCUMULATE

[chialc88]

正月十五 元宵 吃汤圆
Just nice, gotten MM's 4 cents dividend for celebration.

Thank you.
Really appreciate all valuebuddies for your help.

Tonight, cloudless, full moon with lots of stars.

Wish all valuebuddies has the time to look up and admire the best wonder of the world.

Join me with the home cook Red Been Glutinous Rice Ball too.

Thank you, my dear friend, you had no idea how much you had contributed to my success.
Appreciate and wish all enjoyed your well deserved holidays.