My first post after so long, didn't know I would write about Malaysian stocks.
I acquired Magnum (3859) around April - July 2016.
It was making good returns and good dividend back then.
Magnum Berhad appear on the newspaper headline this morning (23-May-2017).
While I don't really monitor my portfolio on a daily basis, I login to my eBroking platform, just to check how much damage it caused. -17% loss.
Found the Announcement from this link: https://klse.i3investor.com/servlets/ptres/40330.jsp
Net profile fell by 56% YoY.
TP reduced from 2.35 to 1.70 (wow Public Bank! Your research could be one of the driving factor)
Read PublicInvest Research here: https://klse.i3investor.com/servlets/staticfile/304001.jsp
From the news it seems that Magnum Berhad - as a company - have few challenges, e.g. tax penalty, competition, lower ticket sales, higher payout - which caused them to under-perform, miss earning target and causing disappointment to the retail traders. The announcement of "no dividend" hammered the market and the diving of share prices.
I do not hold much Magnum shares:
4,400 shares x RM2.25 average purchase price = RM9,893.84 gross investment;
4,400 shares x RM1.86 current market price = unrealized loss RM1709.84 (-17.28%).
In the event it fall to RM1.70 as PublicInvest:
4,400 shares x RM1.70 forecast = potential loss RM2,413 (-24%).
That could be the worst investment in a year.
It was making good returns and good dividend back then.
Magnum Berhad appear on the newspaper headline this morning (23-May-2017).
While I don't really monitor my portfolio on a daily basis, I login to my eBroking platform, just to check how much damage it caused. -17% loss.
Found the Announcement from this link: https://klse.i3investor.com/servlets/ptres/40330.jsp
Net profile fell by 56% YoY.
TP reduced from 2.35 to 1.70 (wow Public Bank! Your research could be one of the driving factor)
Read PublicInvest Research here: https://klse.i3investor.com/servlets/staticfile/304001.jsp
From the news it seems that Magnum Berhad - as a company - have few challenges, e.g. tax penalty, competition, lower ticket sales, higher payout - which caused them to under-perform, miss earning target and causing disappointment to the retail traders. The announcement of "no dividend" hammered the market and the diving of share prices.
I do not hold much Magnum shares:
4,400 shares x RM2.25 average purchase price = RM9,893.84 gross investment;
4,400 shares x RM1.86 current market price = unrealized loss RM1709.84 (-17.28%).
In the event it fall to RM1.70 as PublicInvest:
4,400 shares x RM1.70 forecast = potential loss RM2,413 (-24%).
That could be the worst investment in a year.
