Value From Research

Author: i3Value   |   Latest post: Fri, 21 Feb 2020, 6:15 PM


Seacera Land Purchase

Author:   |    Publish date:

Yesterday I posted article titled Seacera's Big Land In Semenyih (https://klse.i3investor.com/blogs/valueresearch/180334.jsp). In the Seacera forum, some members who checked the annual reports asked why the land size and value changed during the past few years. Actually, the land was not bought whole piece at 1 go. This piece of land is made up by 13 sub-plots. The company have been working to buy all 13 sub-plots since 2009.

Below is the event sequence for this land purchase:

Land revaluation   In 2015, the 1st 6 sub-plots purchased was revalued from RM104.88 million to RM394.02 million.


Taken from 2017 Annual Report:


I also found some other information on this land. The land:

 - has fully approved for a mixed development project with the conversion premium and development charges all FULLY paid.

 - is located off the 25 ¼ Miles Jalan Kachau/Sg Lalang road which is towards the north of Semenyih Town. It lies about 10 kilometers to the north of Semenyih Town and about 19 kilometers to the north-east of Kajang Town.

 - is located about 2 kilometres off the Kajang SILK Highway and about 1.6 kilometres from the Sg. Long toll plaza.


Extra note   I made some amendments after seeing blog comments. This amendments in orange colour font.


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Chart Stock Name Last Change Volume 
SEACERA 0.275 -0.005 (1.79%) 369,400 

  Be the first to like this.
qqq3 does not add up to $ 800 m
31/10/2018 10:55 PM
John_Lee qqq3,

I questioned that too. I took a look at the 2017 audited accounts. The 7 sub-plots were purchased via acquistion of a company called Duta Nilai Holdings Sdn. Bhd. for RM165.1 million. The deal involved assuming all other assets and liabilities of Duta Nilai.

At consolidation, the acquisition cost of the 7 sub-plots was reflected as ‘acquisition through business combination’ at a value of RM391.6m. That’s shown in the PPE note (Note 10).
31/10/2018 11:29 PM
qqq3 13. Lot 613, Geran 23940, Mukim Ulu
Semenyih, District of Ulu Langat,
State of Selangor Darul Ehsan.
Freehold Land for
15 March 2017 Not
21,790,319 784,451,484

item 13 page 93
31/10/2018 11:51 PM

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