The casino tax is raised from 25% to 35%. That is an increase of 40%. Ruling government, pls reconsider the unfair increase. Your tax receipt is going to increase a lot even though the casino tax stays the same. The revenue of Genting Malaysia (mainly from casino) increases by 26% in Q3 2018 year on year. Is a 26% increase still not enough? Hope that the government can revise the tax to a more reasonable 28% or 30%.

Genting Malaysia is not alone.

On 21/6/2017, Paramount London theme park deal also collapsed. The owner, London Resort Company Holdings (LRCH) intended to go ahead with the project on its own.

So, it is workable if Genting Malaysia decided to go ahead with the theme park on its own. There are some inherent advantages if GenM decided to do so. The running cost will be lower and no license fee is paid to the licensor. Maybe the profit will be higher as compared to the original plan. Bare in mind, Lim Kok Thye is fast and impatient. Things will move fast if they have decided to go ahead with plan B.

Hope that the theme park will be opened in stages as soon as possible.

https://www.businessinsider.my/paramount-pictures-theme-park-deal-coll...=T

The outdoor theme park is actually acting as a crowd puller. From the previous results, the outdoor theme park is not an important money-making business. In some years, Genting Malaysia has to subsidise its losses. Anyway, Genting has been making money for the last 3 years without the outdoor theme park. The number of visitors is still increasing every year.

The damage from this termination is actually not big. The previous few postponements did not cause any price drop. The current fiasco can be considered as another delay with the change operator or branding. In fact, Genting can possibly continue with the theme park on their own. It is even possible for them to use their own brand just like Korean's Everland. They can even work directly with the individual suppliers for the different rides. In that case, they profits could be even higher. I think the market is over-reacting.

@kudamuda, it is true that we don't hv the details of the MOA. Anywhere, if it is a delay from GenM, usually Fox is entitled to claim the losses caused by the delay but they can't terminate the contract.

21st Century Fox has breached the MOA. It also showed that 21st Century Fox and Disney are not trustworthy. They have already worked together with Genting Malaysia on this project for more than two years and they just simply terminate the project crudely. In this case, Genting Malaysia is the victim and is entitled to damages claim.

@commonsense, it is very hard to predict the quarterly profits unless we follow the site progress and site progress claim ourselves. I am not working in MKH, therefore I do not know. However, MKH management predicts that the profits for the next year will be good because the site progress will be faster and sales will be better.

@commonsense, I supposed that the tail end phase that the management refers to is the construction progress where most of the physical work has been completed but before the handover to the buyers. During this phase, the developer and contractor are doing the touch-up work, arranging Bomba testing and applying for other authority approvals.

You are right, usually there will be a higher profit being booked after the handover of the units to the buyers.

@ Applepen, PBV is 1.06.

With the clarification on the VIP casino tax of 20%, the negative effect from the tax increase is found to be less harmful. The management has also declared that Genting Malaysia will readjust its cost structure to overcome this negative effect.

On the other hand, there is a big positive growth factor, the openings of the indoor and outdoor theme parks in near future. The indoor theme park will be opened next month. The outdoor theme park will open its doors in the first quarter of next year. By then, we will see a big jump in the visitor numbers and a huge growth in casino and non-casino profits.

It is confirmed. Published by all three mass media. More mass media will publish this news either tonight or tomorrow.

It is clarified by Nanyang, The Star and UOB Kay Hian today that the VIP casino tax is 20% instead of 35% as reported earlier. The present trading price of RM3.60 is with the consideration that the tax is 35%. Therefore, the share price of Genting Malaysia should trade upwards with the 20% tax rate. With the new VIP casino tax rate, Genting Malaysia should be better off (VIP casino tax savings) by RM500mil to RM600mil.

As long as there is no sudden big fluctuations in hot rolled coil price, pipe manufacturers should be quite neutral in profit margin.

I believe Engtex, Fitters and a few other pipe suppliers will be benefitted. The quantities of pipe needed are very huge, 44,000km in total. In anticipation of huge demand increase, Engtex is well prepared and has already invested heavily in new production lines to meet the upsurge in demand from the pipe replacement.

The pipe replacement is top urgent because a lot of the existing asbestos cement pipes are leaking. Asbestos cement pipes are phased out because their lifespan is short.

ERW pipes is just normal mild steel pipes or normal steel pipes. They can last for about 25 to 30 years.
For underground water pipes, ductile iron pipes are used because they can last for more than 100 years in normal soil condition.

@dusti, my recommendation is for short to medium term (1 to 3 years). I don't have info.

@trulyinvest, my recommendation is for short to medium term (1 to 3 years).

@chlai87

i) You are right, the price of HRC fluctuates. As pipe manufacturing is in a very competitive market, the few manufacturers also will adjust their price according to the raw material price, sometimes weekly. So, normally the manufacturer like Engtex will get quite consistent profit margin.

ii) ERW is just another way to make pipes. Spiral welded pipes are manufactured with physical welding at the joint. ERW is just using electric heating to bond the joint. At the end, the end products are pipes that are quite identical.

According to an article from The Star, Engtex has already secured renewable two year supply contract from Pengurusan Aset Air in seven states. The article was dated 9/7/2018.

https://www.thestar.com.my/business/business-news/2018/07/09/engtex-is-strong-contender-for-rm1bil-water-pipe-jobs/

The ductile iron pipes have a lot of advantages as compared to PVC-O pipes.

1) Big ductile iron pipes (800mm to 1200mm) are available whereas such sizes are not available
for PVC-O pipes.
2) Ductile iron pipes have higher tensile strength.
3) Ductile iron pipes are easier and more cost effective to do tapping.
4) PVC-O pipes deteriorate under sunlight (ultraviolet) and certain corrosive soil conditions.

In this week's TheEdge, The MD said that MKH is one of the biggest TOD developers in the market. MKH has land near to 7 MRT or KTM Station. MKH has lands near to Titiwangsa, Batu 11 Cheras, Sungai Jernih, Kajang Stadium, Kajang MRT stations. It also has lands near to Kajang 2 and Nilai KTM Komuter stations. I think MKH could actually be the biggest TOD developer in Malaysia.

@yanxuan8, MKH is a steady growth counter with good management. It has continuously making quarterly profits without fail since its listing in 1997, 21 years ago. Not a single quarterly loss was incurred.

As expected, there are many incentives given to affordable housing ownership in this 2019 budget. The stamp duties of the first RM300k is waived for first time purchasers of residential houses below RM500k.

MKH should be another beneficiary of the coming budget. MKH has quite many projects that fall under the affordable category especially two of them are under PRIMA. Incentives will be announced for the affordable housing sector in the coming budget.

The aged underground domestic water pipes replacement work has been long overdue. In this coming budget, a sizable allocation would be made for the project. Engtex will be the biggest beneficiary of the probable project.

Gamuda is the most competent contractor in Malaysia. There is no doubt. They are also efficient and cost effective. Just negotiate with LGE on the price and they definitely can continue with the contract.

Gamuda wants to continue with the project. Just iron out the final price with LGE. I think a discount of somewhere in between RM3bil to RM3.5bil should be acceptable to LGE.

At the end, Gamuda-MMC and LGE will come to a agreed price. Gamuda-MMC does not want to lose the project because it is too important for the company. LGE wants them to continue inside his heart because it is too messy to get another contractor. Who will be responsible for the project if some structural defects or major accidents happened in the future?

I think TT is sharing with the other shareholders. From the regular dividend payments, we can see that he is sharing. However, TA and TAGB have a lot of hidden values. It is up to the investors to identify and invest in the company. If the investors and institutions do not appreciate the values, TT will take advantage by collecting the shares at "lelong" price.

Paramount is going to move up gradually in line with its profits and value creations.

Increase in RNAV is actually profits made by TA.

We give you an example.

Assume TA has bought all the properties in 2009 and the NBV was RM1.05. The values of the properties increased gradually over the years. The NBV has increased gradually from RM1.05 to RM1.30, RM 1.56,..... and RM2.60 per share as at 31/8/2018. These increases in NBV were supposed to be taken as profits every year by TA. The increase in NBV actually is achieved with the investment that you hv put into TA for 10 years. It is also the returns for the risk that come together with the investments.

@Calvintaneng, I believe Tony is serious and want to buy as much TA as possible, even much more than 50%. He has purchased so much shares and increased his holdings from 33% to 38% from the open market just in a span of 6 weeks time. 5% incraese is a lot for such a short period.

A lot of minorities have faithfully invested their savings in the company for years, some since day one the company was listed. Off course, the main contribution is from Tony. However, the minorities also have contributed to the company although to a lesser extent.

A lot of minorities have faithfully invested their savings in the company for years, some since day one the company was listed. Off course, the main contribution is from Tony. However, the minorities also have contributed to the company although to a lesser extent.

Tony may be using 40 years to make his first RM1bil. He just needs another two months to make his next RM4bil. So you can see how effective a general offer is for Tony to multiply his wealth by 5 times based on my calculations that RNAV = RM3.01 per share.

Tony may be using 40 years to make his first RM1bil. He just needs another two months to make his next RM4bil. So you can see how effective a general offer is for Tony to multiply his wealth by 5 times based on my calculations that RNAV = RM3.01 per share.

I would like to suggest to KYY, quietly accumulate the shares of a good undervalued target property counter, make a general offer to privatise the target company at an appropriate time. He may make a few hundred percents in a few months time.
After that, he can either choose to sell the properties away piece by piece or even relist the company with the lands and investment properties revaluated to market prices.

Yes, apolloang, Public also wrote about SAB during that time.

The following is the extract from the Public Investment Bank report on Daiman. See for yourself, how much the investment community has overlooked Daiman.

" Huge potential value to be unlocked.

The group owns about 2,965 acres landbank in Johor spanning across Kota Tinggi (2,645 acres), Tebrau (118 acres), Plentong (158.3 acres) and Senai (43.9 acres).

The most interesting part is its 103.7-acre golf course land in Plentong, which sits on commercial land status with a book value of RM7.20 psf. Management has indicated there is a plan for redevelopment but will only start looking into it after the completion of the JV project as it wants to see an increase in traffic volume and business activities from the mixed development. Based on the transacted price with the JV partners, the land is now worth around RM140 psf.

In Kota Tinggi, it has about 2,458 acres, which has been approved for mixed development, is sitting on book value of RM2 psf. Based on the market value of RM10-RM15 psf, we believe it is worth at least RM1bn.

All-in, we think its land bank and properties in Johor stand at market value of not less than RM2.5bn, which is a far cry as compared to its current market capitalization of RM598m."

Pls read the following report from Public Investment bank dated 17/6/2014 to see what is the real net book value of Daiman. Public investment Bank gave a fair value of RM7.79 per share. You compare the offer price of RM3.00 to RM7.79 per share and see how much the offerors are going to make.

http://www.bursamarketplace.com/mkt/tools/research/ch=research&pg=research&ac=53009&bb=34262

Jeffrey Chew has already announced in the quarter result press conference that some land and properties will be sold. The values of the land will be unlocked with substantial gains on disposal. Wait for good news being announced when the deals are confirmed.

If TT is able to get 90% of the shares, then the MGO become compulsory. All the remaining 10% shareholders will have to sell their shares to him at the offer price. However, if TT does not achieve 90%, the shareholders have the choice whether to sell to him or not.

Another general offer today

Daiman

Major shareholder offers to buy at RM3.00 a share. Last trading price was RM2.17 per share. The offer is 38.2% higher than the last trading price. This is the proof that property counters are trading at "lelong" price just like Paramount.

Another general offer today

Daiman

Major shareholder offers to buy at RM3.00 a share. Last trading price was RM2.17 per share. The offer is 38.2% higher than the last trading price. This is the proof that property counters are trading at "lelong" price just like E&O.

That is the reason I said, property counters are too cheap, selling at "lelong" price. The management knows the real worth very well. They just need to offer may be 20% to 35% of the actual price for your shares.

For TA, it is even worse. Tony offers RM660k for your bungalow that worth RM3million.

That is the reason I said, property counters are too cheap, selling at "lelong" price. The management knows the real worth very well. They just need to offer may be 20% to 35% of the actual price for your shares.

For TA, it is even worse. Tony offers RM660k for your bungalow that worth RM3million.

Another general offer today

Daiman

Major shareholder offers to buy at RM3.00 a share. Last trading price RM2.17 per share.
38.2% higher than the last trading price. The Daiman management is more fair and reasonable as compared to Tony.

Another general offer today

Daiman

Major shareholder offers to buy at RM3.00 a share. Last trading price RM2.17 per share.
It is 38.2% higher than the last trading price. The Daiman management is more fair and reasonable as compared to Tony.

Tony could hv taken 45 years to make the first RM1bil. However, if he is successful in buying all the TA shares, he is going to make the next RM4.4bil in two months time. He is going to become 4.4 times richer. He could suddenly become top 5 richest men in Malaysia. You see how lucrative and tempting the MGO to him?

Tony could hv taken 45 years to make the first RM1bil. However, if he is successful in buying all the TA shares, he is going to make the next RM4.4bil in two months time. He is going to become 4.4 times richer. He could suddenly become top 5 richest men in Malaysia. You see how lucrative and tempting the MGO to him?