Posted by Alex Chan > 2015-02-13 00:47 | Report Abuse

Master lah

Posted by lifebored > 2015-02-13 08:43 | Report Abuse

well...it did meet every criteria

Posted by aa111111 > 2015-02-13 08:49 | Report Abuse

short or long term

Posted by lifebored > 2015-02-13 10:31 | Report Abuse

http://www.thestar.com.my/Business/Business-News/2015/02/13/MPHB-Capital-downgraded-to-Hold-on-uncertainties/?style=biz
KUALA LUMPUR: Maybank Investment Bank Research has downgraded MPHB Capital to Hold following uncertainties when it can distribute capital/dividend to shareholders following the sale of its 49% stake in Multi-Purpose Insurans.

The research house said on Friday MPHB Capital is selling the insurance stake to Generali Asia for RM335.8mil.

“While we remain positive on MPHB and believe that the group’s assets are very much undervalued, we see little catalyst for the stock in the near term, particularly since there is uncertainty as to when it can distribute capital/dividend to shareholders,” it said.

Maybank Research said the timing of this depends on just how soon it can sort out its capital requirements under Bank Negara’s financial holding company framework.

As for its prospective JV property developments with Bandar Raya, project launches have been delayed and we await further news flows on the Ampang land front.

“Given the uncertainties, we have tagged on a 20% discount to our RNAV of RM2.78 for a new target price of RM2.25 (RM2.54 previously) and we downgrade the stock to Hold,” it said.

Maybank Research said MPHB’s FY14 earnings were in line. Net profit of RM251mil (up 421% on-year) was bolstered by an exceptional profit of RM194.6mil from the sale of its Balik Pulau land in 1Q14 as well as JV development income.

Insurance pretax profit jumped 57% on-year to RM70.9mil in FY14 but its credit division saw a 55% drop in pretax earnings to RM2.9mil due to mark-to-market losses on investments.

Disappointingly, no dividends were declared yet again, this being the second year.