calvintaneng, what about the accumulated interest. 8% pa means 1 yr Mpcorp has to pay more than 10 millions. However, the rental income before tax only 6 million.
Calvin you need to change your investment strategy. Your preference for companies with so called "valuable assets waiting to be unlocked" has led you to MP Corp, Mulpha, BJ Corp which has massively underperformed the market and still cannot see light in the tunnel
If you stick to these companies, you will waste your next two to three years underperforming everybody else in the market.
Calvin don't compare public bank with mp Corp. 1 company managed by crooks caring for only their pocket and making idiots out of people buying their share. The other company managed by trustworthy people who enhance the company value. Do you think a new crook with an old crook will make the company better? I don't think so but their pocket will surely be better and buyers of their share double idiots.
7. The Board of Director is of the opinion that Company is solvent in that it will be able to repay its debts as and when they fall due within the period of 12 months from the date of announcement.
aiyo, within the period of 12 months, means have to wait for another year. They already made their promise to settle the debts for many many times........................but just delay..
I am not really mocking Calvin. I have made the same mistake before. When I first started, I also invest based on assets. Later on I realize that earnings is the important factor for driving share price. So I switch to invest based on future earnings.
Anywhere it is up to him whether he wants to listen. I think he is on the wrong path and should reconsider his strategy. A rationale investor should always do that
Thank you All For Your Kind Recommendation & Caution,
Happy to see all differing views. This is the correct way & I am so happy indeed. The Purpose of this Forum is to share our each individual views. And of Course if we are wrong we should always change for the better. That's how society evolve better and better through the centuries.
I like Earnings. See I bouught Super Enterprise & MRCB & Digistar. Except for Super, MRCB & Digistar have only average NTA. But I still like High NTA Shares as My First Preferance.
I did bought some & succeeded
1) PM Corp at 9 cents with 45 cents NTA 2) Dutaland at 45 cents with RM1.00 NTA Sold after price up 60% 3) BJ Corp at 49 cents with NTA of RM1.30 (Last round I bought BJ Corp at 12.5 cents with RM1.00 NTA - It later shot up to RM1.50! in year 2007. This is my 2nd Purchase of BJ Corp)
Will Explain why I Bought MP Corp in more Clearer Detail later
Calvin's strategy is too long term. He is investing in something that has not showed any signs of coming alive.
Based on my experience, it is better and faster to invest in companies that has STARTED to deliver earnings growth (GOB and Gadang, since somebody mentioned it just now).
Examples of such companies are early stage Tambun, GTronics, MBSB, etc. These are companies that we should invest in (earlier on) when they started to show earning growth. Usually I use two consecutive quarters of growth as yard stick for identifying those companies.
We should try to identify the next Tambun, Gtronics and MBSB, rather than MP Corp, Mulpha and BJCORP Corp
Tambun was only 60 cents two years ago in year 2012. Now already up 400%. It is now overvalued.
The Trigger for Tambun is the Penang 2nd Bridge Connection.
The Trigger for MP Corp is the 6 Lanes Connecting Highway Plus Pengerang Boom
Long before Market Discovered Tambun OSK/RHB Hq Sent One Lady Analyst to Johor & recommended Tambun when it was still dirt cheap.
OSK Iskandar Top Boss has been with me to See The 6 Lanes Connecting Road to MP Corp.
I think we are the first 2 pioneers to see this new development. Just like those who bought Tambun below 60 cents! Of Course if we told you about Tambun at 50 cents - you probably would have REJECTED TAMBUN THEN WHEN SENTIMENT WAS BAD!
Someday ALL THE PEOPLE WILL ALSO GO GAGA OVER THIS MP CORP JUST LIKE THEY DO NOW FOR TAMBUN.
BY THEN IT WILL BE TOO LATE TO BUY ANY MORE SO CHEAP MP CORP!!
calvin, the main issue concerned with MPCORP is the debt. and the National Land Code 1965. Caveat will be once again been imposed. The proposed Aptec and Lakehill seem to be farer.
Tenlot we are on the same wavelength. 1 crook not enough, the crook bring another crook. You decide mp corp direction. 2 yes? 5yrs? Market good also die market, market no good? Think sendiri
Included in other payables are: i) An amount of RM115.0 million which represents the balance of the settlement sum according to the Settlement Agreement with Amanahraya Development Sdn Bhd dated 10 March 2014. ii) An amount of RM26.3 million is due to major shareholders of the Company on a periodic emergency financial assistance requested by the Company. The amount owing is unsecured, interest free and with no fixed terms of repayment. iii) Interest accrued on revolving credit of RM17.1 million.
DescriptionKUALA LUMPUR HIGH COURT (“THE COURT”) ORIGINATING SUMMONS NO. 24NCVC-1341-08/2013 (“ORIGINATING SUMMONS”) - WISMA MPL JMB (“JMB” OR “THE PLAINTIFF”) VS MALAYSIA PACIFIC CORPORATION BERHAD (“MPCORP” OR “THE COMPANY” OR “DEFENDANT”)
If MPCORP is asked to pay to JMB, the amount will be more than 10 millions...
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....
tenlot
541 posts
Posted by tenlot > 2014-10-16 21:08 | Report Abuse
Waiting for the news.
It will be a big news.