Any reasons why price drop so much today?

It holds bulk of cash in SGD and USD

KS super under valued!! Some more 1bn cash!

Keck Seng has 8k acres in JB where book value is only 80m or 10k per acre! Boustead just sold 600 acres in JB to YTL for 250k per acre!!

The book value of investment prop is 1.1bn but market value is 2.7bn or 1.6bn unrealised gain or 2.6 per share! So revalued net asset almost 13.6! Even after a run up only 50% of RNAV!!

They just announced another 10cts div making 30cts for this year. Yield almost 5%!!

Wow. Just announced another 10cts div! That is 30cts this year or yield close to 5%!!

Want to know why OHB is flying? It has huge plantation in Indonesia that generated RM300m profit in 21. Plus it borrows in JPY while assets in IDR. That swing in 1Q 22 i estimate will generate fx gain of over RM100m alone excl plantation bumper profits. Also their hotels in ANZ, Spore, UK and Bangkok will do well... Plus most of their cash is in foreign currency!!

Australia border reopening very good for Mulpha for the hotels and property business!

Oriental plantation in Indon very profitable

Moving up now....!! 258

Do u know alot of cash is not in Ringgit but SGD. The company liquid investments and cash is more than its current share price and u get all the assets for free. They also have investment properties which at fair value is another RM2.60 per share! I studied the annual report. The company's RNAV is over RM13. The cash and liquid investments per share is RM5.57.

Watch out for 3Q results!

Very irrational for Mulpha shares to drop as they don't earn any significant profit in Msia!!

Fortunately Mulpha not affected by hike in tax as Education Perfect is capital gain in 21 and mostly their earnings in Australia which is not remitted to Msia.

The mgt is solid and trustworthy. Very important. Solid assets accumulated over 20 years ago...

I have been investing in another counter E&O which has also gone up by 15% but comparatively Mulpha more superior despite E&O market cap is 1bn vs 800m for Mulpha. Mulpha land in JB close to Spore is bigger than reclaim land of E&O and no major overseas assets. Yet E&O trades at more to 0.5x book value vs Mulpha of 0.25 book.

Fantastic company. Better than put in bank.

Mulpha still owns alot of cheap land at Norwest bought many years ago. Hence their profit margins will be good and not dependent on foreign buyers..

Mulpha quite similar to TA Global that 85% of assets outside Msia but as listed in Bursa it is easily misunderstood by investors as their risks not related to Msia. TA Global was eventually privatised at 70% discount to RNAV. If the same happens to Mulpha the price can easily reach RM3.50 to 4.

The last time Mulpha reached RM3 was in 2017. 1H 2021 it registered EPS of 18cts and if u annualise it is 30-35 cts if u take into consideration that was a slowdown in 3Q due to lockdown in Australia. Not it was reopened so will catch up in 4Q. So PE wise should be only 10x even at RM3. This doesn't incl the blockbuster EPS of RM1. 34 fr sale of Education Perfect and the interest savings of RM20m when proceeds are used to retire expensive borrowings. Blue skies ahead!!!

BP has a few very undervalued estates esp in Peninsular which if sold will generate substantial profits.

Westpac report just out says property prices in Australia will rise 22%. Bodes well for Mulpha's AuD1bn project in Norwest, Sydney.

So far company has done only 25% of their 10% share buy back. This will support better NTA and EPS.

3qtr result will reflect extra gain of RM1. 34 per share fr sale of Education Perfect for NTA will be around RM11 per share.

No impact to Mulpha as assets mainly in Australia. Spore property market overheating now so some spillover to JB esp landed properties like Leisure Farm. Their cost of land is only RM15psf vs selling prices of RM50-70 psf!! Land bought 30 yrs ago. Their major property projects in Sydney is also bought in the 90s so very cheap.

Even the proceeds are not used to give as dividends the stated reduction of borrowings of almost RM300m will reduce interest cost of almost RM20m and increase EPS by 6ct per share.

RM450m received fr disposal vs market cap of RM700m... NTA now almost RM11 vs share price of RM2.3.

All 3 companies in the stable have no reason to stay listed. They are all net cash and trade at way below NAV. With S Bagan having the biggest discount count of

If I am the company I will buy up to my limit 10% as it is so undervalued!

I managed to collect some below RM2. 2 as it was a steal!!

Good time to pick up Mulpha in price correction. Fundamentals remain intact.

After the rights issue was done together with the enlarged base the NTA dropped to RM8. 9 and now is up RM1 to RM9.8 before revaluation surpluses...!!

The interesting thing is that Mulpha's market cap is currently RM760m and it did a rights issue that raised RM265m. Over the period 2017 to 2020 it also accumulated net aftertax profits of nearly RM300m. So investors are paying very little today for what the company has generated in terms of shareholder returns. And Mulpha has done very little to be in the limelight after the Aveo case was negatively highlighted in the news in 2017. Time to be back in a positive way...

Imagine a company with market cap of less than RM800m earning RM422m with potentially another RM20m earn out in 2022!NZD has strengthened further vs RM so the amount coukd be higher..

Approval obtained fr NZ authorities to dispose Education Perfect. Completion date is 30 Sep. Expected gain is RM455m! 3Q will be RM1. 34 EPS!!!

https://www.reuters.com/article/australia-economy-houseprices-idUSKBN2GA043

Their market cap is only RM220m!

Kuchai"s stake in GE Life is about RM200m or just RM20m smaller than their cash position and other liquid investments worth another RM150m. So it is a real steal.

Norwest City development is an AUD3bn 10 year development with connectivity via metro to Sydney and great place to live..

Good time to accumulate as the best is yet to come esp their Aussie property and hotel bizness.

If there is any privatisation it needs to involve both Kuchai and SBagan

Company buyback another 1m shares yesterday

The IR dept could improve and market the company more. It seems they are more Aussie centric as their website is based on Mulpha Australia. If properly sell their story locally can easily increase their market cap to RM1bn or RM3.1 or 25% fr now... Certainly they are oriented towards Australia and in Msia they have a separate Leisure Farm website.

Looks like the company already recognise that their own shares are undervalue and today bought a record 1.9m shares!

If everything goes according to announcement once Education Perfect sold NTA will rise to about RM11 but that is before revaluation of the Australian and Malaysian hotel and property assets..

A quick check at latest annual report shows Morgan has only 3.8m shares. Not alot

What is also little known is that Mulpha also owns 900 acres of land KLIA when it won in the courts to get back last year. The land is carried in its books at just over RM100m but if u look at the prices developers are paying like Scientex and Gamuda not too far away the land is worth easily 400-500m. These are extra bonuses for investors!!! Happy investing....

While the crown jewel of Mulpha is its Australian assets it also owns a large tract of land near the 2nd Causeway called Leisure Farm. This was bought in the early 1990s when land was cheap. U can imagine what the land value is now despite the oversupply situation in JB but Leisure Farm is all about landed and sustainability living which is the vogue now

Next year EPS will explode as hotel will be very profitable and add to property earnings! Now is loss making. So PE will drop to low single digits I reckon. Now at 1H is already 18cts per share.