Data centres are paying huge some for land in south Johor . Paragon Globe recently sold 19.36 ha (47.84 acres) of land in Plentong to Bridge Data Centre for RM238.32 mil, that is RM5 mil per acre. Mphb has 1,700 acres in Pengarang , next to Rapid and just across Singapore. At the lofty price of $5 mil per acres , these lands worth $8.5 billion or $12/share of mphb . Mphb is trading at $1.25 per share.
The land Paragon Globe sold was located at Ulu Tiram , about 20 minutes drive from Johor Baru City Center. For Pengerang land , beside data center , solar plant might be another option. The land size just nice for 500MW capacity which open tender under LSS5. Adjacent to Singapore will be an advantage.
I patiently waiting for the day management make an announcement that material to the stock price. Might be to morrow , might be this year or might be forever..
Plenty of opportunity in Johor through the JB-Singapore Special economy zone. Just matter will management take any action to unlock the value of the asset
FY2022, MPHB appointed a new NED with extensive background in land and legal contract. Since then I were hopeful this appointment is getting ready for something really really big.
The ART system will focus on area surrounding JB. Phase 2 will extend to Pasir Gudang area. Accessibility to Pengerang will be only through road and far away from JB and Singapore which limited the appreciation of land price in Pengerang unless government decided to build 2nd RTS connecting East Johor to Singapore.
MPHBCAP land in Pengerang as per annual report classified as agricultural land , or to be exact, oil palm estate which same as most plantation company , book value at RM1 psft. If outright sales , my guess will be 10 to 12 psft which will equal to about RM1 to RM1.50 per share
Many years back it was force acquired by government at RM8psf, inflation etc now it should easily be more than RM12. Once pengerang gazetted, FDI can easily apply to rezone as industrial land.
PGB as an example. The land deal 238.8MM. Which included 90MM to convert land title from Argricultiural and get all infrastructure ready. Excluding this , will be RM2MM per acres. Ulu Tiram only 20km from JB. Pengerang more than 60km from JB. Pasir Gudang 40km from JB. Commercial land within 30 to 50 psft today
Cash rich, debt free with valuable land, but share price got oppressed by someone, someone that can manipulate media like this nanyang article here, totally deleted mphbcap from the rhbib report https://www.enanyang.my/node/603939
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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....
speakup
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Posted by speakup > 2 months ago | Report Abuse
Mphbcap slowly climbing. Something brewing?