Summary For May 2026
Portfolio @ End of May26
May 2026 was a special month to my portfolio, represented by big rise in some stocks and big slump in some.
MI jumped 45%, JHM & Kobay both advanced 28% and 25% respectively.
Meanwhile, EUPE & MMSV both fell around 13%. Hiaptek, Hibiscus, Teoseng and TMCLife all dropped 8%.
Overall, my portfolio still able to close the month with a small gain of 1.3%, lifting the YTD gain to 12%.
This is its best quarter profit since 2022.
However, I decided to sell all my Kobay shares at RM2.40 after holding them for about 4 months.
This is mainly because the financial performance of its manufacturing segment in recent FY26Q3 & FY26Q2 did not meet my expectation.
I'm not sure whether the sales and profit from the manufacturing segment will only grow significantly in the subsequent quarters but I decided to sell anyway since it has almost reached my target price.
MI's FY26Q1 result was just superb, with revenue RM167.7mil and PATAMI RM31mil (EPS 3.49).
In the prospect, the management expects moderate growth for SEBU and even stronger growth for SMBU in FY26.
Its new solder balls plant in Senai Johor is expected to be ready in 2027, and its SMBU will likely be listed in Singapore in 2026.
Contribution from STBU and VTBU might not be so soon but they are all on track to contribute in 2027.
The future seems bright for MI and its share price has gained more than 30% since the quarter result announcement.
JHM's FY26Q1 result was just OK, at least without bad surprise like previous quarter.
Revenue was maintained at RM100.8mil with PATAMI of RM3.1mil (EPS 0.51sen).
The management anticipates "continued improvement" in its financial performance. Only time will tell whether it's true.
I always have a plan to sell a bit of its shares if the share price goes up before quarter result announcement and I did exactly that this time.
Besides JHM, I also sold half of my EUPE shares as its price has fallen below my "confidence level" of 80sen. I won't say it's a cut loss level as I still think it can rebound some day.
Anyway, I'm a bit disappointed with its management, with no clear updates on its subsequent property launch.
If the projects are further delayed without a timeline, then may be it's time to say goodbye.
MFCB finally had enough of Edenor and planned to divest or dispose this JV and will probably incur an impairment loss of RM75 to RM100mil according to report.
We might see a loss making quarter in the near future but I think this move will be good for MFCB's shareholders.
Its FY26Q1 revenue and PATAMI were RM304.9mil & RM62.3mil respectively (EPS 6.62sen), and the loss of JV was already RM23.4mil.
Without the loss from JV, its PATAMI will be RM85.7mil or EPS 9.1sen.
FocusP seems to continue its growth trajectory with both FY26Q1 revenue RM77.3mil & net profit RM9.2mil (EPS 1.50sen) improved 6% & 16% respectively YoY.
Starting this year, FocusP has enhanced its dividend policy to pay out at least 50% of PATAMI on a quarterly basis.
A 0.75sen dividend has been declared and I'd expect 3.0sen dividend this year, translating to 5.6% dividend yield at current share price of 54sen.
Teoseng FY26Q1 revenue of RM184.5mil and PATAMI of RM14.7mil (EPS 2.54sen) were a bit disappointing.
It seems like the fall in chicken eggs price has taken a toll on its top and bottom lines in Q1 but the eggs price fell even lower in Q2!
Perhaps I need to be more patience in averaging down its shares.
TMCLife's delivered poorer results in its FY26Q3 mainly because of CNY & Hari Raya in the same quarter. Hopefully it will rebound in FY26Q4.
AAX's FY26Q1 is the first time incorporating the numbers from Airasia. It made RM5.95bil revenue but suffered RM154.9mil of net loss attributed to shareholders.
There was a net forex loss of RM232mil though.
We know that the jet fuel price started to skyrocket since Mac26 and reached USD200/barrel in Mac/Apr compared to approximately USD100/barrel in early 2026.
The jet fuel price has retreated gradually since then to the level of USD140/barrel at the moment.
In its FY26Q1 (Jan26 to Mac26), the average fuel price registered was only USD110/barrel. What to expect in AAX's FY26Q2 result?
Similarly, the FY26Q1 result of Hibiscus did not show significant improvement as the realized oil price in the quarter were between only USD70-80 per barrel.
Brent oil price was mostly above USD100/barrel in April & May, but dropped to around USD90/barrel now.
SpaceX, the largest IPO in the history which is estimated to raise USD75bil, will debut soon on 12 June 2026.
There seems to be a lot of hype in this IPO. It will give the loss making company a market valuation of USD1.77trillion.
The US stock market suffered its worst single day loss on 5th June when Nasdaq fell 4.2%.
It is said to be triggered by a surprisingly strong US jobs data which brought the worry that interest rate might not be cut further.
Asian markets followed and KOSPI crashed more than 8% in a day.
Anyway, I believe that the market will take a short breather and continue its uptrend. AI heavyweights such as Open AI & Anthropic are going for IPO too this year.
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