MUI Properties' wholly-owned subsidiaries Cesuco Trading Ltd and Bahtera Muhibbah Sdn Bhd have disposed of 16.06m shares or a 7.13% stake of George Kent for RM13.97m. The disposals were made through Bursa Malaysia. Cesuco is a Hong Kong incorporated company with investment holding as its principal activity. It is wholly owned by MUI Properties. MUI Properties said that the disposals will enable MUI Properties to unlock the value of the sale shares at fair prices. The disposals have resulted in a gain on disposal of RM4.35m, based on its original cost of investment. (StarBiz)
MUIPROP (CLOSED yesterday @ 18.5 sens) has formed a shallow saucer-shaped pan pattern with a long curved handle(bullish). It has a depth of 4.5 sens. This pattern took about 8 months to form (from Mid May to now. The Target Price is 23 sens, Minor resistance at 19.5, 20 sens and 21 sens. Latest price now (@4.56pm) @ 19 sens is well above the parabolic sar indicator, showing today's price increase still has strength. Note: Buy at own risk.
RHB Reseach, in a report on Matrix Concepts Bhd's development in Seremban on Jan.6, showed a map of the development which indicated that a new, proposed Express Way from Senawang to KLIA will cut through MUIPROP's SpringHill development land.
Per RHB Reseach Report:"The Senawang-KLIA Expressway has been proposed and the contractors are now submitting their tenders. The new expressway will offer an alternative route linking the North-South Highway and KLIA. Note that the expressway is also important to MCH as it will pass by or is near to the land in Labu that it acquired last year."
I'm taking both a short and long term view on this counter. But the immediate TP = 23 SENS, according to the chart. If it can touch this price I will consult the charts again for a sell signal to take profit, if not will hold till sell signal appears. If after selling, the price continues to go up, I will buy back if the chart and mkt sentiments warrants a re purchase. But this counter is now in my watchlist.
Sorry, I did not notice your question earlier. All PM Corp, MUI Berhad & MUI Property Are Deeply Undervalued Counters.
Right now these three counters are overlooked by Fund Managers & not on their radar screen. And prices stay depressed due to KKP divorce case still without news.
MUI Properties Substantial Share Holder Is MUI Berhad & a portion also owned by PM Corp.
Thanks Calvin. I am asking about the proposed new highway from Senawang to Klia that Mktwatch mentioned earlier. By the way Muiprop is debt free ? Thanks.
No impairment but note B12 litigation of subsidiary in USA.
A subsidiary has been named as defendant in a lawsuit in United States of America, arising from alleged deficiencies and deferred maintenance issues at the Kensington Place condominium complex ("Condominium"). The plaintiffs who comprise of 22 individuals' owners of the Condominium are suing the subsidiary to recover maintenance and repair costs. The subsidiary is currently defending the case. Due to the uncertainties in the litigation, the management and its counsel are unable to quantify the outcome of this matter at this juncture.
MUI Properties (MUIP MK) Technical BUY with +22.4% potential return Last price : RM0.245 Target Price : RM0.28, RM0.30 Support : RM0.23 Stop-loss: RM0.22 BUY with a target price of RM0.30 with stop loss placed at below RM0.22. Share price has surged through the critical level of RM0.205 on 14 Apr 14 before peaking at RM0.25 two days later. However, the stock consolidated lower before gradually recovering along the rising trendline. Given yesterday’s strong price gain on the back of a higher trading volume of 2.0m shares (vs 20-day average of 0.5m), we expect the current consolidation to end and the previous uptrend to restart. This is consistent with the positive readings in both the MACD and the Stochastics. The golden crossover between the 10-day and 21-day SMA lines suggests an upward continuation. Thus, we peg our medium-term upside target at the psychological level of RM0.30.
Time to slowly switch to Pmcorp. Better value. With the Cadbury halal issue, hope Tango n Tudor Gold chocolate sales increase n profit should increase.
MUI Bhd has Assets at Ocean Bottom Prices - One of the Most Undervalued Share on Planet Earth Today. Also totally overlooked & forsaken by Mr. Market. Calvin loves this stock.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Fairus Ismail
206 posts
Posted by Fairus Ismail > 2013-10-21 17:04 | Report Abuse
Nak jual dh boleh rasa untung skit lepas ni memang akn jatuh!! tapi naik balik...kena sabar utk rasa 26-30sen pasti cecah punya....