Micro-Mechanics (Holdings)

[chialc]

Volume quite small which causes big random price swing (always between a range).

Most of the day, no transactions.

No choice but to use Standard chartered bank to queue everyday to poke luck and get some random lots.

Hope that this stock ramp up and I'll be happy to pass the baton to the next "Value Investor".

<vested>

[Drizzt]

they took a long while to gain back what they lost in 2008 through redesigning their processes. past 2 years was higher than normal capital expediture and this year its better because it was lower than expected.

the company say they have a moat in that there is a barrier to entry in creating these quality products that not anyone can get into. Also the process of developing under cost constrain may make it difficult for anyone to come in.

still their other expenses was 1.6 mil higher than in 2007. admin expenses is also higher. together these 2 are the reason why FCF is still constraint.

The operating profit is maintaining, but by not growing they are not making up for these expenses.

the question is whether they have finished tweaking and we should see better topline and free cash flow growth now.

[chialc]

out of the blue, more than 100 lots was transacted today.
price also slowly crept up to 53 cents.

I'm still puzzled by the sharp fall in blue chips and yet 40 cents share can go up to 50 cents (and many other penny stocks too).

Anyway, took some profits and switch to blue chip...

Still vested because it's very difficult to sell (and equally difficult to buy too).

<vested>

---

feel chatty today and will tell a story on how I managed to buy many many lots of this stock:

Few months ago, I queue and queue and queue everyday and nobody wanted to sell at my price.

Sad, so one day, I run out of patient and buy one lot at 48 cents. (usually I queue at 42 cents).

You can see 3/8/2012, that only lot of 48 cents for the day is a result of my impulse act. (no prize in guessing which trading platform I used).

The rest is history, the next day trigger a tsunami of sell orders that I catch until I max up my daily limit for the next few days. Siok!

I guess, it's time to part with this gem and thank you for the good run.

<vested>

[chialc88]

To be deleted by moderator

[mkmk]

Financial Statements: http://infopub.sgx.com/FileOpen/MMH-SGXn...eID=261348

Press Release: http://infopub.sgx.com/FileOpen/MMH-1Q14...eID=261349

Micro-Mechanics Net Profit Soars 84% to S$2.2 M in 1Q14
- Quarterly net profit reaches highest level since 1Q11
- Improved operational efficiency lifted GP margin to 51.3% in 1Q14

(not vested)

[ksir]

The result is out today.
FY2014 Q3

CMA is finally waking up?
GP Margin has reached 29%.
So at least this long overdue (or too high expectation?) division is no longer so pathetic.

FCF is as steady as usual.
Noted the jump in capex during the 24x7 automation push.

<vested & biased>[/align]

[chialc88]

To be deleted by moderator

[cyclone]

Date of release of financial results for the three months ended 31 December 2014 ("2Q15") : Saturday, 31 January 2015.

[cyclone]

Some highlights of the financial results for the three months and half-year ended 31 December 2014 ("2Q15") :
1. Micro-Mechanics Net Profit Soars 96% to S$2.7 million in 2Q15
2. Improved profitability driven by higher sales, margin expansion and tight rein on expenses
3. Net profit in 1H15 reaches a half-yearly record of S$5.5 million
4. Group is paying special and interim dividends totaling 2 cents per share for 1H15

It will trade ex-dividend on 05/02/2015, only a few days from now. The dividend payment will be made on 17 February 2015.

http://infopub.sgx.com/Apps?A=COW_CorpAn...uddies.com

[ksir]

2015 Q3 was out last Saturday, here

Highlights:
1. 2015 9M Net Profit surpasses FY2014 Full Year.
2. Higher Revenue & Net Profit for the quarter which are outstanding, considering Q3 usually has lower Biz volume.
3. FY2015 EPS may well hit 8 cents, as Q4 usually has more Biz volume.
4. CMA is improving but still in red, Management see this as a big concern which is good. We can only improve if we acknowledge the weakness and find ways to tackle it.
5. Capex for the year will be about $6.5M.
$3.5M spent so far, so another $3M to go in Q4.
That lower my expectation of even higher Final Dividend.
Take note that there's already 1 cent Special Dividend paid in Q2.

Expect total dividend for FY2015 to be 4 cents.