The leasehold land is in Selangor. Most likely is Kundang landbank. Sorry the land is valued at 26mil and is not being disposed at 26mil.

Interesting..........Asiapac is disposing a parcel of leasehold land for 26mil. Wondering how much is the book value. Disclosed in their annual report.

Menara SMI at Lorong P. Ramlee is undervalue. SMI also have investment in New Zealand and is getting yearly dividend.

Previously SMI and Asiapac are having the major shareholders. Hence you can see Asiapac is managing SMI carparks at Zenith and Kelana Square. Now seems like there is a new major shareholder in SMI.

Another major shareholder emerge in SMI. Are they after undervalue Menara SMI or they are Asiapac shares held by SMI? Hope Asiapac is the next target.

Wondering why Honsin geng so interested in SMI. Might as well buy Asiapac. Hmmm....

Current price of 0.12 is valuing asiapac at around 180mil. Mall itself is already worth more than 1billion and generating at least 75million yearly revenue (rental plus carpark). But somehow this counter is overlooked by investor.

Imago mall memang a gem for asiapac. Not many company can successfully run a mall. Mah Sing, Glomac, JAKS are not doing well with their mall.

Profit is not really good. Mostly from revaluation of shopping mall and land (Kepong land leased to Aeon Big).

Huge plot of land being allocated for Xpark at PJ South. Some collaboration with Sunway? Is the land still belong to Asiapac? If yes, how is the rental? Wondering........

Mall is doing good but somehow drag down by poor performance of property development. Should ask the BOD of the poor result during AGM. Loss making even though revenue is good.

Agreed with ngwt. Me too not holding any share but is monitoring it. Like the halal sushi restaurant concept. I think sushi king restaurant is considered successful in Malaysia, If they can replicate it in Indonesia definitely this counter will fly. Never tried never know and I think is a good decision to expand to other countries.

chkhooju, FGV got no stake in Canone. What i want to highlight is the plan to divest some shares in F&B Nutri unit is ongoing. At first KWAP, now FGV. Hope something concrete will conclude soon. Then is good news for Canone shareholders.

After the successful rights issue, personally think this comp is going to have bright earning prospect.
1. Property dev - Fortune Centra Kepong GDV 326mil and 80% sold during soft launch
2. Imago Mall - already a top mall in KK. This comp really did a great job in managing the mall. Not an easy task being in current weak retail sentiment and mall oversupply. Rental should become better with higher occupancy rate.
3. Carpark - just revised Imago mall parking rate from RM2 to RM3 per entry

Anyone noticed the FGV's saga?? CEO said he disagreed with several investments and one of it is a creamer factory, 300mil for 30% stake.

angku, any idea about how popular is Imago mall?? Posted picture in their facebook looks quite empty, no big crowd.

See pictures posted in Imago facebook, still got quite a lot of empty lots in the central court, hope will have tenants soon

What's worrying me is the property development division. Hope revenue will pick-up in coming quarter when it starts to realize sales from Kepong project which is at it's early stage now. It seems offering free parking at it's mall. Is that a common practice in all the other malls in Sabah?

Already said that don't expect the mall the make profit, based on Hunza's Gurney Paragon will only breakeven after one year in operation. Mall rental of 5.4mil is actually not bad.

hmm...wonder why the property development segment is losing money eventhough revenue quite substantial. Next quarter won't be that rosy if this segment still making loss. Mall operation won't contribute earning that fast.

Yes Q315 unbilled sales was 390 million.

densim8, you are right about the expenses but need 90% to break even?? May i know how much you think is the expenses?? Beside expenses, don't forget about the bank loan interest.

bullrun18 how you get to know the current occupancy rate?? Not much info from their website, what a poor marketing team. By the way, imago might offer low rental now to attract tenants, after a few years when the mall start to mature then only increase rate.

any idea how popular is imago mall?? Wondering it can achieve 100% occupancy rate since average occupancy rate in KK is less 90%

Tx for sharing the article bullrun18

1.5Billion?? How you get this figure?? Think is a bit over estimate. Capital Mall's Gurney Plaza NLA circa 880,000 sqft market value is only 1.2 billion

If not mistaken Gurney Paragon (NLA 700,000sqft) current value is 650mil. Based on latest quarterly report, Imago (NLA 800,000sqft) is value at 350mil.

Mall operation wont contribute any profit in the first year. Used Hunza's Gurney Paragon as a comparison, it takes one year to start making profit.

this quarter result will be good. End of financial year and opening of mall will see huge revaluation gain from the mall.

Yes agree. A yet to be discovered gem.