As of 30th Sept 2018,
9M18 results :

Total Revenue for the last 3 Quarters: 438.949m
Total Receivables :416.102m
(no of days for collection of debt. :346 days
Total payables. :521.488m
Cost of sales : 384.642m
( no of days to pay creditors). :495 days
Total borrowings. :556.653m
Cash. :81.56m


Rights issue raised rm 118m,
issues 263m shares @45 cents,
112m shares not subscribed and taken.

Total cash after rights issue Rm200m.

Can further check for yourselves the audited financial statement for FY 17 and FY16 and come up with your conclusions.

Please use your brain in the right way..

Book can be cooked.. Lol

Be careful with no dividend payment companies reporting improving earnings while receivables also shot up...

https://www.edgeprop.my/content/1470243/macc-has-started-investigations-taman-rimba-kiara-says-report

Any impact?

Any failed recommendations?

Not easy to establish own brand.
It is suicidal.. Another company which tried and still trying own brand is IQ..

Both also disastrous!

Rm1. 1B

Cash decreased from rm258 millions as of 1st Jan 2015 to rm58 million as of 30th Sept 2018.. Rm200 millions used to reduce debt.. Placement of share issued raised another rm87 millions..

Not bad actually..

As announced in DAYANG 3rd Quarter Financial Results to Bursa dated 23rd Nov., 2018, on their Proposed Debt Restructuring Scheme...

Any possible impairment of asset in the coming 4th quarter results?


"there may be a
need to write-down PPB’s non-financial assets (except inventories and deferred tax assets) to market value,"

as mentioned below :

B8. Status of corporate proposal (Cont’d)
(ii) Corporate Debt Restructuring Committee (“CDRC”) (Cont’d)
The Standstill Letter was issued by CDRC to the Lenders of PPB on 2 July 2018.
The CDRC, which is under the purview of Bank Negara Malaysia, will mediate between PPB and their
respective Financiers to renegotiate their respective financing facilities that can be sustained in the face of this
challenging period for the oil and gas industry, in line with the above conditions. This successful mediation
would enable Dayang Group to be better positioned to raise new financing and capital in the future and ensure
its operations and PPB to easily sustain its underlying viability going forward.
PPB is exploring various options for the Proposed Debt Restructuring Scheme, including but not limited to
extension of tenure of borrowings, disposal of assets, special issue or placement of shares and rights issue.
Depending on the scheme eventually accepted by not less than 75% by value of the Lenders, there may be a
need to write-down PPB’s non-financial assets (except inventories and deferred tax assets) to market value, if
lower than their carrying amount. As PPB is still exploring the various debt restructuring options, it is unable
to provide further details at this stage.
On 20 August 2018, PPB has sought an extension of time of 30 days to submit the PDRS from 1 September
2018.
On 10 October 2018, PPB has conducted its first CDRC meeting and presented a draft PDRS to the lenders.
Subsequently on 15 November 2018, a second CDRC meeting has taken place to provide further updates and
details of the debt settlement scheme.
Save for the above, there was no corporate proposal announced or not completed by the Group as at the latest
practicable date of 16 November 2018.

https://klse.i3investor.com/m/blog/PublicInvest/192523.jsp
Technical Buy TP 0.90 /0.95

Share price always moves up and down. At this price Malton gives a yield of 4% return on dividend..

:)

The disputing land owner at City One Project Taipei only holds 500 x3. 3 sq meter of the C1 block of the land. The total land for the City One project in Taipei is 11,000x3.3 sq meter and the biggest land owner is the Taiwan Government.

The disputing land owner holds about 5% of the total land. There are many land owners. I don't think that it couldn't be resolved.

Point to think : when it was announced that Pavreit not participating in the ownership of the Mall, the share price was very firm on the day following the announcement, the 18th, with volume of more than 2 million shares. Price only came down by 1 cent.

Big guns had been accumulating, I believe.

Possible positive news flows in the next 3-7 months :
1. Qatar confirming taking a stake in the Mall
2. The award of the City One project
3. Very good results for the final Quarter FY18 on handing over of the Park Sky Residence, Block A, B, C, D in June..,at least 2 blocks would be handed over if not all 4.

Please also note that Malton concentrates in the Klang Valley. Project currently being launched is at Jalan Kuching, The Duta Park Residence. Gdv about RM1 billion. More than 50% of block B and C taken as of 3 months ago.... Now could be more...

Next to be launched is a medium cost Condominium in Puchong... In the pipeline is River Park condo in Bangsar South, GDV about RM1 billion.

:)

Aiyah, rm 1 2 Billion property unbilled sales and rm 1 billion construction order book for external customers will last the company for the next 3 years.

The progress billing of the property development business would not book in a lot of profits at the beginning and in the course of the development but upon handling over, the 17.5 % billing on. Handling over will book in the bulk of the profits. Example is the Signature shops in BJC which was booked in the 4th quarter of FY 2017.

The 4 blocks of the Park View Residence, Block A, B, C and D are ready to be handed over by June. Huge profits will show then. The profits of Condo development will come in at handing over. 17.5 % of the revenue of about RM 1 billion for the 4 blocks of the Park View Residence, will be booked at handing over, i. e. rm175 millions, mostly are the profits.

Don't forget tsr bought 10 million shares last April and May at average price of 65 cents per share and converted 29 million RCSLS @rm1 in 2017..

Good news will come after Qatar concludes equity participation of the Mall and award of the City One Development Project in Taipei, originally scheduled in March.. Haha

The Pavilion BJC Mall occupies 28 acres of the 50 acres land in BJC. It shows how much priority was put at the Mall.

There is a certainty that Tsr and Malton would make the Pavilion BJC Mall a Success.

The funny thing about the share price was that 2 days b4 announcing Pavreit not going to participate in the equity of Pavilion BJC Mall, the share price shot up 4 sen and with negative news flow from Taiwan City One project of which the owner of the smaller plot of about 500 sq meter out of 11,000 sq meter disputed the preliminary award of the tender.

Even after announcing that Pavreit not participating in Pavilion Bjc mall, the share price only fell 1 sen on the 18th Jan..

After announcing that Qatar interested to participate in Pavilion BJC Mall, the share price also can't move North...

Haha!

It is the big boys' game...

Malton's announcement to Bursa on 22nd Jan 2016..

INTRODUCTION The Board of Directors of Malton wishes to announce that the Company had on 22 January 2016 entered into a conditional subscription agreement ( SA ) with Memang Perkasa Sdn Bhd ( MPSB ) and Tegap Dinamik Sdn Bhd ( TDSB ) to subscribe for 51,000 new ordinary shares of RM1.00 each ( MPSB Shares ) ( Subscription Shares ) representing 51% of the enlarged issued and share capital of MPSB at an issue price of RM1.00 per MPSB Share for a total cash consideration of RM51,000 ( Proposed Subscription ). TDSB, the existing sole shareholder of MPSB shall concurrently subscribe for 48,990 new MPSB Shares. The shareholding of MPSB upon the completion of the Proposed Subscription is as follows: No. of MPSB Shares (%) TDSB 49,000 49% Malton 51,000 51% 100,000 100% 2. DETAILS OF PROPOSED SUBSCRIPTION 2.1 Information on MPSB MPSB was incorporated in Malaysia as a private limited company under the Companies Act, 1965 on 20 February 1997. The present authorised share capital of MPSB is RM6,000,000 comprising 5,000,000 ordinary shares of RM1.00 each and 10,000,000 preference shares of RM0.01 each, of which 10 ordinary shares and 40,000,000 redeemable preference shares of RM0.01 each ( RPS ) have been issued and fully paid-up. Currently, the existing sole shareholder of MPSB is TDSB, a private limited company incorporated in Malaysia. The existing shareholders and Directors of TDSB are Ahmad Lazri Bin Long Ahmad Zainal Abidin (49%), Rosmanira Binti Jusoh (30%) and Mohd Khairuddin Bin Hj Nawawi (21%). TDSB also holds all the 40,000,000 RPS in MPSB. The RPS shall be mandatorily redeemed by MPSB on 3 December 2025 at RM6.00 per RPS, unless they are early redeemed by MPSB at a price to be fixed by the directors of MPSB after taking into account the return on investment of the RPS holders, subject to a minimum redemption price of RM4.00 per RPS. The principal business of MPSB is property development and it had on 7 April 2014 entered into a Joint Venture Agreement with Yayasan Wilayah Persekutuan ( YWP ) on 7 April 2014 to develop a 12 acre leasehold land held under HS(D) 119599, PT9244 in the Town and District of Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur ( JV Land )( JVA ) into a residential development ( JV Development ) Page 1 of 6

Under the JVA, MPSB has the absolute and exclusive right to carry out the JV Development and is solely responsible for carrying it out at its own costs and expenses all aspects of the JV Development, subject to YWP being entitled to a fixed sum of RM160 million in cash. The audited loss after taxation of MPSB for the financial year ended 31 December 2014 amounted to RM250,428, while the audited net liabilities of MPSB as at 31 December 2014 stood at RM760,113. Upon completion of the Proposed Subscription, MPSB will become a 51%-owned subsidiary company of Malton. 2.2 Basis of Consideration The subscription price of RM1.00 for each Subscription Share was arrived at between Malton and MPSB based on the par value of the MPSB Shares of RM1.00 each. 2.3 Salient Terms of the SA A. Subscription (i) (ii) (iii) MPSB has agreed to issue 51,000 new MPSB Shares at the issue price of RM1.00 ( 51% Subscription Shares ) each to Malton and the remainder 48,990 new MPSB Shares at the issue price of RM1.00 each ( 48.99% Subscription Shares ) to TDSB. Malton and TDSB have agreed to subscribe for the 51% Subscription Shares and 48.99% Subscription Shares respectively in accordance with the terms and conditions of the SA and Articles of Association of MPSB. Subject to the fulfilment of the conditions precedent under the SA, the Subscription Price shall be paid by Malton and TDSB to MPSB on or before the date of completion of the SA. The Subscription Shares to be issued shall be free from any and all mortgages, claims, encumbrances, charges, liens, priorities or options of any nature whatsoever and shall rank pari passu with all other MPSB Shares whereas all other rights attached to the MPSB Shares shall be set out in the Articles of Association of MPSB. Page 2 of 6

B. Conditions Precedent (i) The SA shall be conditional upon the fulfillment of the following conditions precedent ( Conditions Precedent ) within three (3) months from the date of the SA or such extended period as the parties may mutually agree in writing ( Conditional Period ):- (1) the conduct and completion of a legal and financial due diligence review on MPSB, its financial position and the JV Land ( Due Diligence Review ) and the results thereof being to the satisfaction of Malton or deemed satisfactory to Malton; (2) the written consent of YWP to be obtained by MPSB for the change in shareholdings of MPSB ( YWP Approval ) of which has been obtained on 19 January 2016; and (3) any other relevant

Darren,

Old stories.. BY Hannah Yeoh and YB Lim Lip Eng already reported to MACC 6,7 months ago..

51% MPSB was acquired by Malton in Jan 2016 from Tegap Dinamik Sdn Bhd which originally owned 100 % MPSB and dealt with YWP way back in 2014.

If the development can't proceed and if Malton suffered financial losses, it may hv legal recourse against TDSB. Total investment by Malton fir its 51% as of June 2018 was about rm43 millions.

Memang Perkasa invested about rm115 millions, mainly on land premium etc, paid to the Govt..

https://www.freemalaysiatoday.com/category/nation/2018/12/18/wheres-the-rm115-million-paid-by-kiara-park-developer-ask-residents/

Can the Govt just cancel the project without refunding the premium? Doesn't Malton has a legal right to claim for the losses against its partner TDSB or the Govt if the project is cancelled?

All these news I think already discounted.

Yeah... It is true...
Just wait for the outcome..
The Taiwan government has waited for too long, 12 years, to lift the project off the ground.. They have to find an amicable solution to it.

And the Mall could be sold for RM1. 4 B to RM1. 5 billion if not kept for repetitive income and listed as an reit...

:)

Still have not takenin the potential award of the City One Development Project in Taiwan, the GDV of which is in excess of RM8 billion,to be completed by 2025. Malton's 20% will account for RM1. 6 Billion

Malton's Property Development Order book is RM1. 2 Billion and its external Construction Order book is about RM1 billion.. Can last for the next 3 years,

while some property companies are losing money...

RNAV of Malton is about RM3 per share. It is selling at about 17% of its RNVA per share. One of the cheapest.

The Mall, being developed, takes up about RM 400 millions in the property development costs in the current asset. Once an equity partner for the Mall is in, the balance sheet and the cash would be very good and healthy..

Yoruba, I do agree with you. I also believe someone has already accumulated quite lot of Malton shares from the open market. Look at the latest annual report, there are 14 individuals among the top 30 shareholders. Some could be proxies.

If Qatar fund is to purchase about half or 49 % equity share in Pavilion BJC Mall and if the mall is to be injected to Pavreit later with share swap, the interest of Tsr in Pavreit will be diluted unless he and Qatar take 100% Pavilion BJC Mall out together or he take Malton private. Tsr could also increase his shareholdings in Pavreit later if he is to inject Pavilion Damansara Mall into it much later.. haha.. It all depends on how he wishes to play his cards..we can only make some speculations.. At the end of the day, it depend on how well the Pavilion Bjc Mall could enhance the values of Malton.

Anyway, I think there are many ways to enhance the values in Pavilion Bjc Mall and differentiate it from others, apart from its size of 1.8million sq ft and the long facade it possosses along the Main Road. Sunreit enhanced the values in Sunway Pyramid by building a BRT joining it to the lrt line at Station USJ7. A very brilliant move and it affected Da Men Mall adversely, I believe. The crowd can take lrt to station USJ7 and then take BRT to Sunway Pyramid Mall which is so much bigger, also about 1.8million sq ft..

Malton could also build a BRT and connect the Pavilion BJC Mall to the nearby lrt Station. That will enhance its value and pull in the crowd. Haha

Looking for water fish.. hihi

https://www.mvrdv.nl/projects/371/taipei-twin-towers

https://www.taiwannews.com.tw/en/news/3615565

CITY ONE TAIPEI...

Would Pavilion BJC Mall have similar attractive LCD lighted advertisements etc to attract the crowd?

https://youtu.be/yuNto6XtBPQ

Interesting

Da Men Mall, 420,920 sq ft lettable area, too small lo.. Somemore in a place of acute traffic jam..

Pavilion BJC Mall, 1,800,000 sq ft. In BJC, frontage is about 1 Km along the Main Road, will be very interesting to see how the retailers put up their advertisements..

IF Pavilion uses the AI same as that design for CITY ONE in Taipei would be fantastic.. hihi.

I don't think Tan Sri will let his interests in Pavilion BJC Mall be diluted. If the Pavilion BJC is injected into Pavreit later, he will lose control to Qatar if he is not careful.. Haha..

Take Malton private could be a good option since Qatar will be coming in to Equity participate in Pavilion BJC Mall.. hihi

Qatar 's Investment in Pavilion Bukit Bintang is a great success. They got the taste.
Direct investment into Pavilion BJC Mall would not dilute their shareholding in Pavreit, should Pavreit have gone ahead with the equity participation with the issue of new shares since it will go over geared if acquire with cash.

Then, would Tan Sri 's interest in Pavilion BJC Mall be diluted? What are the options available to him to keep his 37.4 % interest in Pavilion BJC (via Malton) intact?

Take Malton private? Hahaha!

Just my personal views
Trade at your own risks.. hihi

Pavreit probably is already quite highly geared at 38%..Gearing of Reits could not be more than 50%. Choice of major shareholders of PAVREIT participate directly in the equity of Pavilion BJC Mall is a good option..

It is an exciting development.. hihi

The above is already old story.
YB Hannah Yeoh and YB Lim Lip Eng already lodged reports months ago.
Malton bought 51% Memang Perkasa which dealt with YWP....

Qatar is the 2nd largest shareholders in PAVREIT, holding 35.7% just next to Tan Sri and Puan Sri 's combined holding of 37. 2%.

Pavilion REIT 2017 Annual Report
Major Unitholders (5% and above) as at 31 December 2017
No Name of Unitholders Direct Interest
No. of Units
% Deemed Interest

1. Qatar Holding LLC 1,082,900,000 35.74 – –
2. Tan Sri Lim Siew Choon 845,425,000 27.90 – –
3. Puan Sri Tan Kewi Yong 281,875,000 9.30 – –
Unitholdings of Directors and Chief Executive Officer as at 31 December 2017
No Name of Unitholders Direct Interest
No. of Units
% Deemed Interest
No. of Units
%
1. Tan Sri Lim Siew Choon 845,425,000 27.90 – –
2. Puan Sri Tan Kewi Yong 281,875,000 9.30 – –
3. Dato’ Lee Tuck Fook 100,000 * – –
4. Navid Chamdia 100,000 * – –
5. Ooi Ah Heong 100,000 * – –
6. Dato’ Mohzani bin Abdul Wahab 100,000 * – –
7. Dato’ Maznah binti Abdul Jalil 100,000 * – –
8. Philip Ho Yew Hong 95,000 * – –

Yes,
Meng Yew you are right.. It is the Mall..

Share price moved up 2 days ahead of the announcement.

It is more valuable now if take the company private. The Crown Jewel of Pavilion BJC Mall remains intact.

It's on the uptrend now

Finally

Finally

3iii,
Please name 3 stocks in Bursa that are potential 10 baggers in 10 years. Thanks.

http://www.taipeicityone.com/Mobile/Details/18

This is the translated version in English

http://www.taipeicityone.com/Mobile/Details/18

https://youtu.be/yuNto6XtBPQ

https://m.facebook.com/%E5%8F%B0%E5%8C%97CITY-ONE-283085882534599/?modal=admin_todo_tour

https://www.taiwannews.com.tw/en/news/3605623

http://taipeicityone.com/Mobile/Video

Can switch to English Version

https://www.mvrdv.nl/en/news/taipeis-times-square-mvrdv-proposes-a-twin-tower-project-to-revitalise-taiwans-capital

http://taipeicityone.com/Mobile/Video

http://www.theedgemarkets.com/article/nan-haimalton-jv-enter-next-phase-bidding-process-taipei-superstructure-project?type=malaysia

HLIB downgraded GENM TP from rm5. 80 to rm4. 01

Best time to take it private..
And to swallow the Pivilion BJC MALL.. ..at cheap cheap price