http://klse.i3investor.com/insider/director/7183/25-Oct-2016/120898_3280908770.jsp

BCB will also benefit from HSR due to its land bank in BP !
http://www.thestar.com.my/business/business-news/2016/10/22/hsr-stop-for-genting-pura-kencana/

The Company has on 14 October 2016 fully redeemed the outstanding MTNs of RM280.0 million in nominal value issued under the CP/MTN Programme, following which the Company intends to cancel and terminate the CP/MTN Programme.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5232009

Mr Ooi,

Are you looking at SMA 90 instead to determine the breakout at above 1.88?

Thanks.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5015265

Hope it could launch this RM400M JV project sooner.

http://www.theedgeproperty.com.my/content/899702/skyluxe-records-80-take-over-weekend
http://www.theedgeproperty.com.my/content/900176/ecoworld%E2%80%99s-firsts-campaign-achieves-81-takeup
http://www.theedgeproperty.com.my/content/866195/setia-alam%E2%80%99s-opacus-and-albida-terraced-homes-85-taken-over-weekend-launch

Other than Affin Hwang Research, no other research houses are covering or promoting this counter, unlike Eco World and Mah Sing which are well covered by research houses.

Hence, this counter has been really 'sleeping' well for a long long time. Maybe its shareholder and management team are also sleeping too for not getting the coverage by research houses to promote the company, like Mah Sing & Eco World. :-(

Notwithstanding that the mother share will soon be traded ex-dividend, the L&G ICUL is currently undervalued at 28 sen as the exercise price is 13 sen only when its mother share now trades at 44 sen.

Quite a lot of its ICUL holders may be confused, thinking that they would have to pay another 26 sen in order to convert one ICUL into one ordinary share.

There are 2 choices or methods to convert the ICULs which were issued at 13 sen per ICUL in 2013:-


1. Surrender One ICUL plus 13 sen cash in exchange for One share, or
2. Surrender Two ICULs in exchange for One share. (no need to pay anymore cash)


So, just convert the ICULs under Method 1 when the ICULs are traded above 13 sen in the market.

If the market price for the ICUL drops below 13 sen, then use Method 2 to convert.

Unfortunately, a lot of people may have thought that the ICUL holder has to surrender One ICUL plus 26 sen cash to convert into one ordinary share. This partly explain why the ICULs always trade at a discount in the market. The conversion price of 26 sen published in the newspapers without detailed explanation has confused or misled a lot of people to simply sell or throw the ICULs at below the intrinsic value.

Quite pitiful though.

The ICUL holders should convert the ICULs first and then sell the converted ordinary shares which should fetch a better price based on the last 2 years scenario since the ICULs have been mostly under-priced.

After listening to the BFM podcast, the main worry for this company may be the poor sales achievement of its sizable 8 Kia Peng luxury condo project. It has only achieved 25% sales though the construction of project is said to have progressed 25%. Will it have to raise substantial bank borrowings to complete the project? Or will it undertake another rights issue exercise which will dilute its EPS and may cause the share price to go down?

Under the agreement, MITC is selling a 75% stake in MITC Engineering Sdn Bhd for RM225mil. This would be in exchange for 200.82 million ML Global shares at 67 sen each and 135 million new irredeemable convertible preference shares of ML Global also at 67 sen each

With so many new shares and ICPS to be issued, the EPS will be substantially diluted.

Out of the construction order book of RM1.52bil with current contract value of RM1.06bil only yet to be billed, how much PAT can still be generated over the next 12 or 24 months? It will be interesting to see how the various analysts view this.

Predicated on the first 3 quarterly results alone, MKH is poised to achieve the best record or highest net profit for the current FY ending 30 Sept 2016 in its history.

Hopefully this would translate into a much higher share price. Its previous highest closing @ RM4.92 was achieved in March 2014. it will be interesting to see its price movement in the next 2 months before it announces its Q4 result by end of November.

It will be an awesome move to sell off the hotel as this business with long gestation period will only drag its balance sheet with higher borrowings.

1 It expects work on the RM1.57bil Pan Borneo Highway work package that the company has partnered with Gamuda Bhd to commence this month.

Those who subscribed the call warrants have lost almost all of their cost of investments. They should sue Kenanga for such a practice. SC or Bursa should also ensure such practice would not recur.

Isn't it a conflict of interest or unprofessional & disgusting for Kenanga Research to have issued two sell calls on KSL at such low TP of 99 sen after Kenanga Investment Bank issuing the call warrants KSL-CF? Pity those initial call warrant subscribers.

Why it has ascribed so low PE ratio to KSL in valuing the stock whilst ascribing much higher PE ratio in valuing Eco World?

http://klse.i3investor.com/quoteservlet.jsp?sa=ss&q=KSL-CF
http://klse.i3investor.com/blogs/kenangaresearch/103176.jsp
http://klse.i3investor.com/blogs/kenangaresearch/97319.jsp

L&G to launch properties worth over RM1.6 bil in next six months.

http://www.theedgeproperty.com.my/my/content/877214/lg-launch-properties-worth-over-rm16-bil-next-six-months

As per the current issue of Focus Malaysia, L&G also intends to spend about RM20 mil to re-align or divert the existing TNB high tension cables in order to re-develop its existing 14.5ha freehold land upon which the present Sri Damansara Club is sitting. The land now carries an amazing low book value of RM3.8 mil for 14.5ha or RM2.40 psf. The land shall be developed into a mixed development with a GDV of RM2.4 billion!

The Shah Alam land to be acquired will be generating another GDV of RM1.2 billion with mostly landed properties. The Sena Parc in Tuanku Jaafar Golf & Country Club in Negri Sembilan will have a total GDV of RM600 mil predominantly again with landed properties.

So the prospect is indeed bright in the next 2 years if the management team runs faster and works harder. If this company is led by Eco World or Hua Yang management team, its share price would have hit RM1 and above long time ago.

The local property market may be quietly moving towards the recovery path....provided that the developers can give the right products.....either landed ....or condos at the right sizes and not overly priced in the right locations.... hopefully KSL would be able to capitalize fully on the recovery path by launching the right products and shine again. The following news could be an early sign of the gradual & subtle recovery in the property market....

http://www.theedgeproperty.com.my/content/866195/setia-alam%E2%80%99s-opacus-and-albida-terraced-homes-85-taken-over-weekend-launch

Extract from the latest issue of Focus Malaysia:

Land & General Bhd (L&G) is gaining investor interest with its huge cash pile, attractive dividend yields and relatively undervalued position.

The company’s cash position of RM533.6 mil as of end-June is seen as attractive compared to its market capitalisation of RM440.4 mil as at Aug 30.

“With that net cash position, it is almost like buying the company for free,” says a fund manager.

In addition, the company’s long-term prospects appear bright with more than RM3 bil worth of on-going and future projects in the pipeline. Investors are also said to be waiting for the company to unlock some of its assets.

“We have got all these hidden jewels in the centre of mature developments which are ready to launch at any time.

“With our available cash, we will probably look at bigger land acquisitions to develop townships,” chief financial officer Wong Keet Loy tells FocusM.

As of end-June, the company had cash and short-term funds of RM533.6 mil, while total borrowings stood at RM83.1 mil.

The local property market may be quietly moving towards the recovery path....provided that the developers can give the right products.....either landed ....or condos at the right sizes and not overly priced in the right locations.... the following news could be an early sign of the gradual & subtle recovery....

http://www.theedgeproperty.com.my/content/866195/setia-alam%E2%80%99s-opacus-and-albida-terraced-homes-85-taken-over-weekend-launch

The local property market may be quietly moving towards the recovery path....provided that the developers can give the right products.....either landed ....or condos at the right sizes and not overly priced in the right locations.... the following news could be a sign of the gradual & subtle recovery....

http://www.theedgeproperty.com.my/content/866195/setia-alam%E2%80%99s-opacus-and-albida-terraced-homes-85-taken-over-weekend-launch

http://www.theedgeproperty.com.my/content/862094/tan-sri-eddy-chen-mkh-bhd-we-need-more-liveable-homes

Extraordinary gain of RM18 mil to be realized in Q4, 2016 from disposal of car parks.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5195717

Extract from its Annual Report:

Taman Kempas Indah is a 237-acre development township featuring bungalows, cluster houses and service apartments. Taman Kempas Indah is 14 kilometres north of the Johor Bahru City Centre. The township is also accessible through the North-South Highway, Pasir Gudang Highway and Tebrau Highway via the North-South Highway. Besides this, it is also located near the upcoming Kempas Sentral, which features the Rapid Transit System (RTS) railway link and proposed High Speed Rail (HSR) that connects to Singapore and Kuala Lumpur.

As at 31 December 2015, D’Secret Garden @ Kempas Indah, a 6.2-acre residential development featuring three blocks of service apartments with total of 1,302 units with sizes ranging from 510 to 1,400 sq ft was under active construction. The project has an estimated GDV of RM 813 MILLION and is targeted for completion in 2016.

The KSL Residences @ Daya is a 5.39-acre integrated development consisting of a hotel and three blocks of service apartments. Located 8 kilometres north of the Johor Bahru city centre, the project features excellent connectivity via the Johor Bahru Eastern Dispersal Link Expressway and existing road networks to various shopping and recreational centres, Senai Airport and the Johor Bahru Customs, Immigration and Quarantine Complex (CIQ). As at 31 December 2015, KSL Residences @ Daya was under active construction. With a total of 1,064 units of residences with sizes ranging from 456 sq ft to 2,753 sq ft, the project has a GDV of RM 531 MILLION and is targeted for completion in 2018.

The Group is developing Taman Mengkibol in Kluang, which is located about fi ve minutes away from Kluang town and is easily accessible via the North-South Highway. As at 31 December 2015, two residential developments were under active construction. A total of 213 units of double-storey terrace house, double-storey shop office and three-storey shop office with an estimated combined GDV of RM 96 MILLION are targeted for completion in 2016 and 2017.

The Group is currently developing 54 units of double-storey semi-detached landed properties in Bandar Bestari, Klang. The project has an estimated GDV of RM92 MILLION. It was launched in last quarter of year 2014 and it is expected to be completed by second quarter of year 2016. To add to the portfolio, the Group is also developing 67 units of triple-storey shop offices within the township with an estimated GDV of RM 145 MILLION. The development is expected to be completed by last quarter of year 2016.

Maple Residences is a high-rise residential development located adjacent to Canary Garden @ Bandar
Bestari. It comprises 3 towers with 597 well-designed units completed with facilities such as gynasium,
swimming pool, jacuzzi, children playgound, bonsai and rock garden, meeting pod, stepping rail and
others.

The development projects an estimated GDV of RM 396 MILLION. Tower A and Tower B were formally
launched in third quarter of year 2015. Premium Tower C was launched in last quarter of 2015. Positive
feedback and encouraging sales were recorded as at year end 2015.

INVESTMENT HIGHLIGHTS by MIDF:

• Orderbook expanded from project award in Perak
• Perak and Gemas-JB electrified double track could provide
catalyst for orderbook expansion in FYE17/FYE18
• Reaffirm our earnings estimates for FYE16/FEY17
underpinned by robust orderbook of RM3.5bn
• We maintain our BUY recommendation with an adjusted TP
of RM0.63 per share

Congrats to those who bought MKH-wb right after reading
http://klse.i3investor.com/blogs/icon8888/100411.jsp

Residensi Prima Harmoni 2 comprises 598 residential units and is spread across 7.2 acres of freehold land in one of Kuala Lumpur’s most sought-after addresses. Units sport spacious built-up sizes ranging from 1,157 sq ft to 2,942 sq ft consisting of 3 – 4 bedrooms and 2 – 6 bathrooms. With 7 design options to choose from, eligible buyers get to enjoy modern layout designs that ooze luxury and style. The homes offer a panoramic view of the surroundings and the city scape.

Priced from RM671,060 to RM1,746,360, Residensi Prima Harmoni 2 is targeted at professionals, families and investors. Launched in January 2015, the development is scheduled for completion in 2019. The developer is offering eligible buyers attractive packages, which include a 5% to 8% Bumiputera discount.

http://newlaunch.iproperty.com.my/Residensi-Prima-Harmoni-2/5205?gclid=CI2HkMio0M4CFdiFaAodxywCgA#review/

http://newlaunch.iproperty.com.my/Residensi-Prima-Harmoni-2/5205?gclid=CI2HkMio0M4CFdiFaAodxywCgA#video/

http://www.thestar.com.my/business/business-news/2016/08/19/affin-hwang-cio-time-to-buy-malaysian-shares/

Hopefully L&G will become a hostile take-over target with the latest revision in the SC's takeovers & mergers framework since its share price has remained hopelessly low & undervalued for so long despite its PAT had been growing over the last few years.

http://www.thestar.com.my/business/business-news/2016/08/16/sc-unveils-new-rules-for-takeover-plans/

http://www.theedgemarkets.com/my/article/ire-tax-sells-land-building-rm88m
Sell idle property to reduce borrowings. A right move.

http://klse.i3investor.com/blogs/sin_chew_hot_stocks/102351.jsp

TP: RM1.73 by Kenanga

http://www.theedgemarkets.com/my/article/fy16-net-profit-rm1229m-seen-vs-industry

Maybe the following articles shed some light on the relationship between Country Garden Holdings Company Ltd and Malaysia Land Properties SB (Mayland) which is the major shareholder of L&G.

http://www.thestar.com.my/business/business-news/2014/06/16/china-developer-and-kprj-plan-to-reclaim-5000-acres-for-a-manmade-island-project-off-johor/

http://www.propertyguru.com.my/property-news/interview/china-s-country-garden-breaks-ground-in-malaysia-w

So, will Country Garden JV or buy over L&G's 2500 acres land bank in northern Selangor ??

It would very interesting to see which banker in town dares to lend substantial amount to this company to undertake the massive project given that it has NO experience in this power plant business. Good luck to the banks.

Astoria Ampang

http://pictures.my.ippstatic.com/realtors/images/640/10865/37bdea9f1cc7445b9800716182d1b245.jpg

Very little reason for MKH to trade below RM3.50 if what has been projected by Alliance Research comes true in the next 1 to 4 months.
Its 4th quarter result will be out anyway by 30 Nov 2016. Hopefully the price would start moving after its Q3 result to be announced by end of this month.

http://klse.i3investor.com/servlets/ptres/36450.jsp

Really hope that you would write an analysis on your blog to share your views on this company.

Thank you in advance.

Part of the group's RM3.2 bilion un-billed sales to be recognized over the next 4 years.

https://www.youtube.com/watch?v=Yj4evujmbNw

https://www.youtube.com/watch?v=xThy8yRH6eU

https://www.youtube.com/watch?v=2dJaG6rJ4dY

Agreed with you that the major strong shareholder is very rich.

Unfortunately most people don't trust him since he injected personal assets into the company. The last rally in the share price of this counter in 2013 was primarily due to the broad market rally after the GE13.
No matter how better the fundamentals or profits being reported by this company in the past 3 years, there was little positive impact to boost its share price. Many long term investors might have been very much disappointed by this company and its principal after staying invested for many years. He simply cannot compare to some other property strong men like Tan Sri Liew Kee Sin whose share price moves way ahead of strong profits being registered.

I believe that only your analysis and report will surely push up the price of this counter as you carry more weights & respect than the principal.

Most of the Hometree's Long Branch Residence ("LBR") home owners are said to have already received the VP letters from BCB last month.

Icon8888,

This stock will only move upward if you would write an article/analysis & recommendation on it. You and your reports have lots of followers & supporters!

Final tower of Tropicana Garden for sale.

Earlier 3 towers are fully sold.

https://scontent-kul1-1.xx.fbcdn.net/v/t1.0-9/13669683_1159350607441064_2819521854785822851_n.png?oh=042d1c5c634624d262521297bea59e58&oe=58292B5C

http://www.theedgemarkets.com/my/article/vivocom-bags-housing-construction-job-worth-over-rm750m-perak

http://klse.i3investor.com/servlets/ptres/36931.jsp

Oilfield Services (Extraxt from Annual Report)

SESB successfully secured contracts for its oilfield services
valued at over USD140 million in FY2016. The contracts
are for jobs secured in SESB’s markets in Asia Pacific, West
Africa, Turkmenistan and the Middle East.

Furthermore, the Company’s tendering activity remained
robust with over USD700 million of bids submitted in
FY2016. We are cautiously optimistic to receive more
awards as oil prices stabilise. In addition, our current order
book stands at over USD1.0 billion, providing us with
revenue visibility for the upcoming financial year.

In spite of prevailing market conditions, the Company
has made significant progress with its new and efficient
products. PlatDrill R, a green base oil was successfully
tested in an offshore field in Myanmar. It passed tests on
toxicity, heavy metal, biodegradability, skin irritation and
static sheen. It also achieved an average of 35% faster rate
of penetration. With these positive results, PlatDrill R could
be introduced further into other drilling campaigns in
Myanmar and other regions.

Whilst the present uncertainty remains, the cyclical
economic environment however lends the belief that
a positive, brighter outlook can be foreseen. With the
cooperation from all parties within the SESB family and
strong fundamentals, we believe that the Company is
in good stead to remain competitive and weather the
conditions.

On 10 June 2015, the Company announced that Victory Vista Sdn Bhd (“the Purchaser”), a wholly owned
subsidiary of the Group, has entered into a conditional Shares Sale Agreement with several shareholders
(hereinafter referred to as “the Vendors”) to acquire 1,000 ordinary shares of RM1.00 each in Pembinaan Jaya Megah Sdn Bhd (“PJMSB”), representing 100% of the equity interest in PJMSB from the Vendors for a total cash consideration of Ringgit Malaysia Ninety Million (RM90,000,000).

As of the date of this report, the said agreement is pending the satisfaction of certain condition precedent to the Shares Sale Agreement.

Extracts from its annual report:

For Astoria Amapang, the 1st Phase of the development, Tower A and Tower B,
was launched in April 2016 and was said to be very well received
by both home buyers and property investors. The entire
development, with a total GDV of RM840 million, is
scheduled to be completed in 2020.

Damansara Foresta is an on-going development that
is located next to the Bukit Lanjan Forest Reserve.
Construction of Phase 1 has been completed and vacant
possession was handed over at the end of December
2015.

The proposed Phase 2 of this development is now open
for registration. It expects to start selling the units
before the end of 2016 once the relevant approvals
are obtained from the authorities. This latest offering
will feature two towers of unique homes within nature’s
embrace and has a total GDV of RM480 million.

Sena Parc
Its flagship landed residential property development
in Negeri Sembilan, Sena Parc comprises bungalows,
link-cluster houses, semi-detached cluster homes
and apartments. With a GDV of RM600 million, this
development, which was formerly a golf course, is set
to create a resort-lifestyle experience in and around the
state capital of Seremban.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5161561

Director buying again?

http://klse.i3investor.com/servlets/stk/annchdr/7183.jsp

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5156505

Director buying before announcement of next quarterly result?

http://dbv47yu57n5vf.cloudfront.net/s3fs-public/editorial/my/2016/July/25/L%26GAstoriaartistimpression.jpg

http://www.tropicanacorp.com.my/property-collection