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MHAL looking sharp as cashflow jumps
MHAL Current 0.058 Forecast 0.142 + 144%i
May 7, 2022
1 minute read
Cash receipts grew 8.7%
Last 3 semesters
8.5% 10.0% 8.7%
Costs lower profit up
Last 3 semesters
-66% -72% -68%
Cashflow jumped
Last 3 semesters million Singapore dollars
9.2 , 13.7 , 25.0
Balance sheet net cash improved
Last 3 semesters million Singapore dollars
-289.7 -274.9 -255.0
Capital raised improved, a 144% higher target price
Last 3 semesters million Singapore dollars
-186.1 -163.0 -133.2
May 7, 2022
1 minute read
Cash receipts grew 8.7%
Last 3 semesters
8.5% 10.0% 8.7%
- Cash receipts grew 8.7% to 112.1 million Singapore dollars vs our 104.1 million Singapore dollars forecast in the second semester.
- The 12 month average is 9.3% now.
- We predict 4.0% average growth to bring receipts to 121.2 million Singapore dollars in the second semester 2023.
Costs lower profit up
Last 3 semesters
-66% -72% -68%
- The cash cost ratio went from -72% to -68% profit 21.4 to 22.1 million Singapore dollars in the second semester.
- The 12 month average is -70% now.
- We use the average -70% cost ratio to bring profit to 13.6 million Singapore dollars in the second semester 2023.
Cashflow jumped
Last 3 semesters million Singapore dollars
9.2 , 13.7 , 25.0
- Cashflow jumped from 13.7 to 25.0 million Singapore dollars with -11.1 million Singapore dollars investment spending in the second semester.
- The 12 month average is 13.7 now.
- We use the he same -11.1 million Singapore dollars investment spending to predict a 25.5 million Singapore dollars cashflow in the second semester 2023.
Balance sheet net cash improved
Last 3 semesters million Singapore dollars
-289.7 -274.9 -255.0
- Cash declined 48.5 to 44.6 million Singapore dollars in the second semester.
- Liabilities declined 323.4 to 299.6 million Singapore dollars so net cash improved -274.9 to -255 million Singapore dollars .
- With our cashflow forecast & -7.8 million Singapore dollars equity -29.2 million Singapore dollars liabilities payments net cash will be -213 million Singapore dollars in 12 months time.
Capital raised improved, a 144% higher target price
Last 3 semesters million Singapore dollars
-186.1 -163.0 -133.2
- MHAL 16.0 semester capital -163.0 to -133.2 million Singapore dollars with a -27.0 million Singapore dollars liabilities payment in the second semester. & will be -96 million Singapore dollars in 12 months time.
- At the current value 244 million Singapore dollars based on our forecasts it’s at 0.4 X assets with a 13 years payback & a 3% yield.
- Our cashflow forecast is 50 million Singapore dollars which means a 5 X valuation. A 12 X valuation. gives a 144% higher target price 0.142 Singapore dollars.