Highlights
KLSE: MALTON (6181)       MALTON BHD MAIN : Property
Last Price Today's Change   Day's Range   Trading Volume
0.555   -0.005 (0.89%)  0.555 - 0.58  6,676,400
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Overview

Market Cap: 293 Million
NOSH: 528 Million
Avg Volume (4 weeks):1,820,417
4 Weeks Range:0.475 - 0.58
4 Weeks Price Volatility (%):
76.19%
52 Weeks Range:0.39 - 0.965
52 Weeks Price Volatility (%):
28.70%
Average Price Target: 0.86
Price Target Upside/Downside: +0.305
Stamp duty exempted for year 2019

Financial Highlight

Latest Quarter | Ann. Date 30-Sep-2018 [#1]  |  15-Nov-2018
Next QR | Est. Ann. Date: 31-Dec-2018  |  27-Feb-2019
T4Q P/E | EY: 8.32  |  12.01%
T4Q DY | Payout %: 0.00%  |  - %
T4Q NAPS | P/NAPS: 1.75  |  0.32
T4Q NP Margin | ROE: 4.03%  |  3.81%

Headlines

Date Subject
12-Feb-2019 猪年谷底回升.大亨万事亨通
16-Jan-2019 Trading Stocks - Malton
07-Jan-2019 [转贴] 2019十大风云人物 乱世各显神通
28-Dec-2018 Mplus Market Pulse - 28 Dec 2018
03-Oct-2018 PublicInvest Research Headlines - 3 Oct 2018
26-Sep-2018 Mplus Market Pulse - 26 Sep 2018
21-Aug-2018 谢汪潮‧林晓春的答案
14-Aug-2018 Mplus Market Pulse - 14 Aug 2018
10-Aug-2018 MALTON - Bukit Jalil City July and August Update
28-Jul-2018 MALTON – The Ultimate Question
25-Jul-2018 Technical Analysis - Malton
22-Jul-2018 MALTON – Bukit Jalil City Progress
16-Jul-2018 Malton –Transforming to a shopping mall operator?
14-Jun-2018 Malton Bhd - Riding on Pavilion's branding
03-Apr-2018 马顿反弹上挑94仙/敏源
03-Apr-2018 Daily Market Update - 3 Apr 2018 (LSTEEL, MALTON)

Business Background

Malton Bhd is principally engaged in investment holding and the provision of management services. It operates through three segments namely Property development, Construction contracts, and Others. The Property development segment is involved in the business of constructing and developing residential and commercial properties. Its Construction contracts segment consists of construction works for the development of residential and commercial properties. The company's Others segment comprises of investment holding, project management, property investment and management, and provision of management and accounting services.
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SuperVegetto https://www.youtube.com/watch?v=zAiuWtP-nRQ
25/01/2019 16:30
Walters Howard It is difficult to see the price of Malton soaring as someone is pressing down the share price intentionally. Some days, the big boss will be able to privatize malton at a price far below its NTA. Example : Suiwah corp bhd.
26/01/2019 00:40
uptrending Yoruba, I do agree with you. I also believe someone has already accumulated quite lot of Malton shares from the open market. Look at the latest annual report, there are 14 individuals among the top 30 shareholders. Some could be proxies.

If Qatar fund is to purchase about half or 49 % equity share in Pavilion BJC Mall and if the mall is to be injected to Pavreit later with share swap, the interest of Tsr in Pavreit will be diluted unless he and Qatar take 100% Pavilion BJC Mall out together or he take Malton private. Tsr could also increase his shareholdings in Pavreit later if he is to inject Pavilion Damansara Mall into it much later.. haha.. It all depends on how he wishes to play his cards..we can only make some speculations.. At the end of the day, it depend on how well the Pavilion Bjc Mall could enhance the values of Malton.

Anyway, I think there are many ways to enhance the values in Pavilion Bjc Mall and differentiate it from others, apart from its size of 1.8million sq ft and the long facade it possosses along the Main Road. Sunreit enhanced the values in Sunway Pyramid by building a BRT joining it to the lrt line at Station USJ7. A very brilliant move and it affected Da Men Mall adversely, I believe. The crowd can take lrt to station USJ7 and then take BRT to Sunway Pyramid Mall which is so much bigger, also about 1.8million sq ft..

Malton could also build a BRT and connect the Pavilion BJC Mall to the nearby lrt Station. That will enhance its value and pull in the crowd. Haha
26/01/2019 11:26
ivan9511 I abit worry about malton
bcos outside propery ctr more cheap
eg ,huayang , ivory, mkland , trop , bpuri, bjland
esp ivory inside got many cash only 21sen
malton not cash rich like ivory
so Mkland only 18sen got many land
bjland hold all the good biz from bjc only 25sen
Malton is cheap but not cheap enough
26/01/2019 15:47
uptrending RNAV of Malton is about RM3 per share. It is selling at about 17% of its RNVA per share. One of the cheapest.

The Mall, being developed, takes up about RM 400 millions in the property development costs in the current asset. Once an equity partner for the Mall is in, the balance sheet and the cash would be very good and healthy..
26/01/2019 19:08
uptrending Malton's Property Development Order book is RM1. 2 Billion and its external Construction Order book is about RM1 billion.. Can last for the next 3 years,

while some property companies are losing money...
26/01/2019 19:20
uptrending Still have not takenin the potential award of the City One Development Project in Taiwan, the GDV of which is in excess of RM8 billion,to be completed by 2025. Malton's 20% will account for RM1. 6 Billion
26/01/2019 21:01
uptrending And the Mall could be sold for RM1. 4 B to RM1. 5 billion if not kept for repetitive income and listed as an reit...

:)
26/01/2019 21:07
darrenliew To be fair we should note that recent reports cited some legal complications in the Taiwan project
26/01/2019 21:07
uptrending Yeah... It is true...
Just wait for the outcome..
The Taiwan government has waited for too long, 12 years, to lift the project off the ground.. They have to find an amicable solution to it.
26/01/2019 21:11
darrenliew My Fear :-
A potential risk of MACC/Police Raids on Malton’s 51% owned Memang Perkasa S/B due to the increasing pressure by MPs and NGOs like C4 Centre . If the allegations are proven then the TTDI project may be legally stopped with significant negative impact arising from impairments on the business/financial results of Malton.

Khalid: Taman Rimba Kiara project will be axed if corruption is proven
Syauqi Jamil
-
November 29, 2018 5:47 PM
Probe Tengku Adnan over TTDI land deal, C4 tells MACC

GiGi Chua
/
theedgemarkets.com

January 22, 2019 19:46 pm +08

KUALA LUMPUR (Jan 22): C4 Center has urged the Malaysian Anti-Corruption Commission (MACC) to investigate former Federal Territories Minister Tengku Adnan Tengku Mansor and Yayasan Wilayah Persekutuan (YWP) over the land deal involving the Taman Rimba Kiara park in Taman Tun Dr Ismail (TTDI).
The anti-graft watchdog claims there were serious conflict of interest in the dealings between Tengku Adnan and the directors of a number of companies which were linked to the deal.
“The connection between Tengku Adnan and the directors of the companies will raise queries as to serious conflict of interest in the dealings.dvertisement
"It appears that Tengku Adnan could have abused his position by making decisions in ways that will provide personal benefit and favoritism for his associates and family members,” C4 Center executive director Cynthia Gabriel said in a statement today.
She said Tengku Adnan, being the Federal Territories Minister and chairman of YWP at that material time, had direct oversight of Kuala Lumpur City Hall (DBKL) and the then mayor, Tan Sri Mohd Amin Nordin Abdul Aziz, who was also a director of YWP.
Gabriel noted that TTDI residents had been protesting against the proposed high-rise development project in the park for the past two years, even calling for the park to be gazetted as public space to prevent development from taking place.
YWP had in 2014 procured the issuance of a title to itself for 12 acres out of the 25-acre Taman Rimba Kiara plot, It comprises a Hindu temple (0.6 acres), the Bukit Kiara longhouses (4.4 acres) and green park land (20 acres).
In April 2014, YWP entered into a joint venture development with a developer, Memang Perkasa Sdn Bhd, to develop the “carved out” land with an expected gross development value in excess of RM3 billion.
This development involves building eight blocks of 42 to 54 storey high end service apartments, which will be known as Pavilion Taman Tun, and building one 29-storey block of 350 units for the residents of the longhouse.
C4 Center wants the Government to explain why part of a park was allowed to be transferred to a foundation.
“Secondly, what was the reason for allowing a foundation meant to assist low income groups to be involved in a joint venture mega project?” asked Gabriel.
“Thirdly, was there any open tender process for this joint venture?
“Fourthly, was the joint venture deal made at arm’s length?”
Noting that Tengku Adnan had justified the mega project as necessary to subsidize affordable housing for the Bukit Kiara longhouse community, Gabriel asked: “What is the rationale for allowing a developer to build only one block of affordable housing units for the longhouse community while the developer benefits from eight blocks of high-end service apartments?”
Gabriel also noted that the current Federal Territories Minister Khalid Abdul Samad had said that there was no reason for DBKL to sell the land.
“They (the sales) do not follow the SOPs (standard operating procedures); they do not follow the developments that are approved; they do not follow the guidelines in terms of density, usage and so on and so forth,” Gabriel quoted Khalid as saying.
Last November, Tengku Adnan was charged with two counts of receiving RM3 million from property developers. On the first count, he was charged with accepting RM1 million from a developer as an inducement.
On the second charge, he was alleged to have received RM2 million and the sum was allegedly deposited into the bank account of Tadmansori Holdings Sdn Bhd, a company in which Tengku Adnan is the major shareholder.
27/01/2019 18:10
darrenliew Amendment : Potential risk of MACC .......investigations (not raids)
27/01/2019 18:19
asrul Post removed. Why?
27/01/2019 18:22
Ziko Ro Not only malton die all counters have been suffered.!! Now they have moving slowly heading positive .
27/01/2019 19:01
uptrending Darren,

Old stories.. BY Hannah Yeoh and YB Lim Lip Eng already reported to MACC 6,7 months ago..

51% MPSB was acquired by Malton in Jan 2016 from Tegap Dinamik Sdn Bhd which originally owned 100 % MPSB and dealt with YWP way back in 2014.

If the development can't proceed and if Malton suffered financial losses, it may hv legal recourse against TDSB. Total investment by Malton fir its 51% as of June 2018 was about rm43 millions.

Memang Perkasa invested about rm115 millions, mainly on land premium etc, paid to the Govt..

https://www.freemalaysiatoday.com/category/nation/2018/12/18/wheres-the-rm115-million-paid-by-kiara-park-developer-ask-residents/

Can the Govt just cancel the project without refunding the premium? Doesn't Malton has a legal right to claim for the losses against its partner TDSB or the Govt if the project is cancelled?

All these news I think already discounted.
27/01/2019 19:12
uptrending Malton's announcement to Bursa on 22nd Jan 2016..

INTRODUCTION The Board of Directors of Malton wishes to announce that the Company had on 22 January 2016 entered into a conditional subscription agreement ( SA ) with Memang Perkasa Sdn Bhd ( MPSB ) and Tegap Dinamik Sdn Bhd ( TDSB ) to subscribe for 51,000 new ordinary shares of RM1.00 each ( MPSB Shares ) ( Subscription Shares ) representing 51% of the enlarged issued and share capital of MPSB at an issue price of RM1.00 per MPSB Share for a total cash consideration of RM51,000 ( Proposed Subscription ). TDSB, the existing sole shareholder of MPSB shall concurrently subscribe for 48,990 new MPSB Shares. The shareholding of MPSB upon the completion of the Proposed Subscription is as follows: No. of MPSB Shares (%) TDSB 49,000 49% Malton 51,000 51% 100,000 100% 2. DETAILS OF PROPOSED SUBSCRIPTION 2.1 Information on MPSB MPSB was incorporated in Malaysia as a private limited company under the Companies Act, 1965 on 20 February 1997. The present authorised share capital of MPSB is RM6,000,000 comprising 5,000,000 ordinary shares of RM1.00 each and 10,000,000 preference shares of RM0.01 each, of which 10 ordinary shares and 40,000,000 redeemable preference shares of RM0.01 each ( RPS ) have been issued and fully paid-up. Currently, the existing sole shareholder of MPSB is TDSB, a private limited company incorporated in Malaysia. The existing shareholders and Directors of TDSB are Ahmad Lazri Bin Long Ahmad Zainal Abidin (49%), Rosmanira Binti Jusoh (30%) and Mohd Khairuddin Bin Hj Nawawi (21%). TDSB also holds all the 40,000,000 RPS in MPSB. The RPS shall be mandatorily redeemed by MPSB on 3 December 2025 at RM6.00 per RPS, unless they are early redeemed by MPSB at a price to be fixed by the directors of MPSB after taking into account the return on investment of the RPS holders, subject to a minimum redemption price of RM4.00 per RPS. The principal business of MPSB is property development and it had on 7 April 2014 entered into a Joint Venture Agreement with Yayasan Wilayah Persekutuan ( YWP ) on 7 April 2014 to develop a 12 acre leasehold land held under HS(D) 119599, PT9244 in the Town and District of Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur ( JV Land )( JVA ) into a residential development ( JV Development ) Page 1 of 6

Under the JVA, MPSB has the absolute and exclusive right to carry out the JV Development and is solely responsible for carrying it out at its own costs and expenses all aspects of the JV Development, subject to YWP being entitled to a fixed sum of RM160 million in cash. The audited loss after taxation of MPSB for the financial year ended 31 December 2014 amounted to RM250,428, while the audited net liabilities of MPSB as at 31 December 2014 stood at RM760,113. Upon completion of the Proposed Subscription, MPSB will become a 51%-owned subsidiary company of Malton. 2.2 Basis of Consideration The subscription price of RM1.00 for each Subscription Share was arrived at between Malton and MPSB based on the par value of the MPSB Shares of RM1.00 each. 2.3 Salient Terms of the SA A. Subscription (i) (ii) (iii) MPSB has agreed to issue 51,000 new MPSB Shares at the issue price of RM1.00 ( 51% Subscription Shares ) each to Malton and the remainder 48,990 new MPSB Shares at the issue price of RM1.00 each ( 48.99% Subscription Shares ) to TDSB. Malton and TDSB have agreed to subscribe for the 51% Subscription Shares and 48.99% Subscription Shares respectively in accordance with the terms and conditions of the SA and Articles of Association of MPSB. Subject to the fulfilment of the conditions precedent under the SA, the Subscription Price shall be paid by Malton and TDSB to MPSB on or before the date of completion of the SA. The Subscription Shares to be issued shall be free from any and all mortgages, claims, encumbrances, charges, liens, priorities or options of any nature whatsoever and shall rank pari passu with all other MPSB Shares whereas all other rights attached to the MPSB Shares shall be set out in the Articles of Association of MPSB. Page 2 of 6

B. Conditions Precedent (i) The SA shall be conditional upon the fulfillment of the following conditions precedent ( Conditions Precedent ) within three (3) months from the date of the SA or such extended period as the parties may mutually agree in writing ( Conditional Period ):- (1) the conduct and completion of a legal and financial due diligence review on MPSB, its financial position and the JV Land ( Due Diligence Review ) and the results thereof being to the satisfaction of Malton or deemed satisfactory to Malton; (2) the written consent of YWP to be obtained by MPSB for the change in shareholdings of MPSB ( YWP Approval ) of which has been obtained on 19 January 2016; and (3) any other relevant
27/01/2019 19:19
uptrending The funny thing about the share price was that 2 days b4 announcing Pavreit not going to participate in the equity of Pavilion BJC Mall, the share price shot up 4 sen and with negative news flow from Taiwan City One project of which the owner of the smaller plot of about 500 sq meter out of 11,000 sq meter disputed the preliminary award of the tender.

Even after announcing that Pavreit not participating in Pavilion Bjc mall, the share price only fell 1 sen on the 18th Jan..

After announcing that Qatar interested to participate in Pavilion BJC Mall, the share price also can't move North...

Haha!

It is the big boys' game...
27/01/2019 19:45
uptrending The Pavilion BJC Mall occupies 28 acres of the 50 acres land in BJC. It shows how much priority was put at the Mall.

There is a certainty that Tsr and Malton would make the Pavilion BJC Mall a Success.
27/01/2019 20:14
ivan9511 I already said sell each rebound points.
No one can wait that long .
Malton profit is not coming in short term
Either you sell at small profit or wait a unknown timing to give you limit up profit
29/01/2019 19:02
uptrending The 4 blocks of the Park View Residence, Block A, B, C and D are ready to be handed over by June. Huge profits will show then. The profits of Condo development will come in at handing over. 17.5 % of the revenue of about RM 1 billion for the 4 blocks of the Park View Residence, will be booked at handing over, i. e. rm175 millions, mostly are the profits.

Don't forget tsr bought 10 million shares last April and May at average price of 65 cents per share and converted 29 million RCSLS @rm1 in 2017..

Good news will come after Qatar concludes equity participation of the Mall and award of the City One Development Project in Taipei, originally scheduled in March.. Haha
29/01/2019 22:44
nemesis It is just a matter of time tis Malton might skyrocket anytime...current weakness signals a good opportunity to accumulate...current 1.2 bil unbilled sales, Taipei City one project n Qatar Investment Authority participation are some of the major factors tat will lift the share up soon...
30/01/2019 00:01
janetchiam8 But 1Qresults already down and its upcoming 2Q is likely to be weak due to property recession in Malaysia.
Also the Taiwan project had been hit by continuing legal problems . As said its already a 12 year legal issue. Can this be resolved anytime soon?
30/01/2019 00:25
uptrending Aiyah, rm 1 2 Billion property unbilled sales and rm 1 billion construction order book for external customers will last the company for the next 3 years.

The progress billing of the property development business would not book in a lot of profits at the beginning and in the course of the development but upon handling over, the 17.5 % billing on. Handling over will book in the bulk of the profits. Example is the Signature shops in BJC which was booked in the 4th quarter of FY 2017.
30/01/2019 00:59
uptrending The disputing land owner at City One Project Taipei only holds 500 x3. 3 sq meter of the C1 block of the land. The total land for the City One project in Taipei is 11,000x3.3 sq meter and the biggest land owner is the Taiwan Government.

The disputing land owner holds about 5% of the total land. There are many land owners. I don't think that it couldn't be resolved.

Point to think : when it was announced that Pavreit not participating in the ownership of the Mall, the share price was very firm on the day following the announcement, the 18th, with volume of more than 2 million shares. Price only came down by 1 cent.

Big guns had been accumulating, I believe.

Possible positive news flows in the next 3-7 months :
1. Qatar confirming taking a stake in the Mall
2. The award of the City One project
3. Very good results for the final Quarter FY18 on handing over of the Park Sky Residence, Block A, B, C, D in June..,at least 2 blocks would be handed over if not all 4.

Please also note that Malton concentrates in the Klang Valley. Project currently being launched is at Jalan Kuching, The Duta Park Residence. Gdv about RM1 billion. More than 50% of block B and C taken as of 3 months ago.... Now could be more...

Next to be launched is a medium cost Condominium in Puchong... In the pipeline is River Park condo in Bangsar South, GDV about RM1 billion.

:)
30/01/2019 01:18
uptrending Share price always moves up and down. At this price Malton gives a yield of 4% return on dividend..

:)
30/01/2019 08:58
Momocai Seems no move today?
30/01/2019 10:13
linges What happen? Sudden drop back to 48c
30/01/2019 18:03
kelvin17 if there is no support it can not sustain and hold the price this is Malton nothing exciting...
31/01/2019 11:51
nemesis Very undervalued at current level when we factor in the Pavillion Asset into the balance sheet...
31/01/2019 19:14
johnnyboy Post removed. Why?
31/01/2019 19:14
uptrending https://www.edgeprop.my/content/1470243/macc-has-started-investigations-taman-rimba-kiara-says-report

Any impact?
08/02/2019 18:33
nemesis It won't impact Malton...Tengku Adnan is the one in big trouble, not Malton...
09/02/2019 13:09
GrahamNewman It seems to me most Malaysian in the stock market are news trader. They invest base on perceived news, but never see the company as it is. Everyone looks at the price like a hawk, but never at the company, what a funny way to invest. I think Malton has a special moat in that it has prime location, past experience, share of mind(Pavilion), and good leadership. Real estate companies are not like manufacturing companies where the asset values are basically a tiny bit of the reported figures. These assets are indeed very real and holds its value well. The property market may be undergoing a glut, but that is a temporary macro view. If a product is well built and liked by majority of buyers, it will have its fair share of customers. I have seen examples of good property developer doing intensive development during industry downturn so that when the industry reverts, their products are ready for customer at the right time because property development have a long lead time. There is a saying:

What the fool does in the end, the wise man does in the beginning

It can't better describe the property industry.
11/02/2019 15:50
nemesis Well said... We wanna buy when there is bad news, not when ppl are cheering for good news...When others call it hell n doom, we call it home...we see buying opportunities when others don't...Malton has fallen due to factors related to political issues...However what is more paramount is the moat and valuable Pavillion Asset they are owning...A brand name tat has great intangible Asset Value tat is so well known...Only tis alone could sustain Malton in the long run...We haven't factor in its coming Taipei City project....
12/02/2019 09:24
Chow Huat Huat still can up
14/02/2019 18:31
nemesis Of course...target of 0.80 tis year...
15/02/2019 18:13
GrahamNewman I think most trader will only buy this counter when the mall open or someone participate in the mall stake, because the news would be all over the place, but till then the price most probably reflected the potential.
18/02/2019 15:52
nkk53 Break 0.53 very soon
19/02/2019 18:48
wah168 up and up
21/02/2019 10:41
l3ryan all the time collecting at low point is paying off now, however i think there is more to come..
21/02/2019 10:42
vamsiprince Malton looking good . When to buy ? when to sell ? message me in telegram @vamsiCV
21/02/2019 12:56
wongkokmun Sold 0555
21/02/2019 13:11
Johnfatt sell on rise?
21/02/2019 14:45
nemesis Is Qatar investment Authority buying?
21/02/2019 15:40
wah168 up again
21/02/2019 16:07
nemesis 0.60 is Sap Sap Sui tomolo!!!
21/02/2019 16:16
nkk53 This time real one!!!!!!
21/02/2019 16:27
l3ryan Quarter Report must be good, with the rally before it is release. Expecting the Qatar investment and Taipei project news to develop further and more to come to the share price
22/02/2019 09:47
nemesis 0.80 should be on the way matching WCT share price...
22/02/2019 09:49
wongkokmun Sold 0575
22/02/2019 17:06


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