Dear friends of i3 Investors Forum,

At long last the disposal of Dutaland's Rm750 Millions finally reported in Latest Qtr report.

With Rm550 Millions Net Cash over 840 millions paid up capital Dutaland is now Jutaland because it has Pure 65 sen Cash.

Its NTA  has jumped from Rm1.00 to over Rm1.50. The Latest increase in NTA consists of pure Cash

So now Dutaland at 55.5 sen is selling at a huge 63% discount to NTA giving a fantastic margin of safety.

And another  5 sen dividend will be on the way.

What is the intrinsic value of Dutaland now

If we take Ben Graham 30% discount as a margin of safety then Rm1.50 x .7 = Rm1.05

What if we ask for double margin of safety?

Then multiply Rm1.05 by .7 again = 73.5 sen

Now if we take dividend yield of 5 sen --- 73.5 sen equals to a yield of 6.8%

That is the margin of safety we are talking about in a time of reckless punting in KLSE.

Will Dutaland moves up to Rm1.00?

Why not?

Since Dutaland's Boss  holding cost is as high as Rm1.05

See

DATO' YAP YONG SEONG	18-Apr-2007	Acquired	7,320,793	1.000
DATO' YAP YONG SEONG	18-Apr-2007	Acquired	20,000	1.000
TAN SRI DATO' JAFFAR BIN ABDUL	18-Apr-2007	Acquired	93,533	1.000
YAP WEE CHUN	18-Apr-2007	Acquired	7,320,793	1.000
YAP WEE CHUN	18-Apr-2007	Acquired	15,000	1.000
YAP WEE KEAT	18-Apr-2007	Acquired	7,320,793	1.000
YAP WEE KEAT	18-Apr-2007	Acquired	36,000	1.000
TAN SRI DATO SRI ABANG AHMAD URAI BIN DATU HAKIM ABG. HJ. MOHIDEEN	12-Apr-2007	Acquired	10,000,000	1.000
TAN SRI DATO' HAJI LAMIN BIN HAJI MOHD YUNUS	12-Apr-2007	Acquired	10,000,000	1.000
TAN SRI DATO' JAFFAR BIN ABDUL	12-Apr-2007	Acquired	10,000,000	1.000
DATO' YAP YONG SEONG	04-Apr-2007	Acquired	248,571,429	1.050
YAP WEE CHU	04-Apr-2007	Acquired	248,571,429	1.050
YAP WEE KEA	04-Apr-2007	Acquired	248,571,429	1.050

Question now is

Will Duta Yap siphon off surplus monies by buying inflated assets?

This was what happened to Puncak. After Puncak got its huge cash hoard it took triplc private at an inflated price and more cash diverted to acquiring plantation assets of which Puncak has no expertise in

And see. Rozali did not buy any more Puncak shares even as price crashed lower and lower

See

TAN SRI ROZALI BIN ISMAIL	27-Jun-2018	Transferred	21,600,000	-
TAN SRI ROZALI BIN ISMAIL	14-Dec-2017	Transferred	1,600,000	-
TAN SRI ROZALI BIN ISMAIL	15-Aug-2017	Transferred	5,000,000	-
TAN SRI ROZALI BIN ISMAIL	18-Nov-2016	Others	389,400	0.000
TAN SRI ROZALI BIN ISMAIL	06-Oct-2016	Transferred	15,000,000	0.000
TAN SRI ROZALI BIN ISMAIL	15-Jan-2016	Transferred	9,000,000	0.000
TAN SRI ROZALI BIN ISMAIL	07-Jan-2016	Transferred	21,920,000	0.000
TAN SRI ROZALI BIN ISMAIL	06-Jan-2016	Transferred	7,500,000	0.000
TAN SRI ROZALI BIN ISMAIL	30-Dec-2015	Transferred	15,000,000	0.000
TAN SRI ROZALI BIN ISMAIL	02-Dec-2015	Others	6,311,862

But Duta Yap is different.

See how he kept up buying & buying Dutaland shares non stop from the Open Market:

DATO' SRI YAP WEE KEAT	24-Jul-2018	Acquired	179,100	-
MR YAP WEE CHUN	24-Jul-2018	Acquired	179,100	-
TAN SRI DATO' YAP YONG SEONG	24-Jul-2018	Acquired	179,100	-
DATO' SRI YAP WEE KEAT	23-Jul-2018	Acquired	3,377,300	-
MR YAP WEE CHUN	23-Jul-2018	Acquired	3,377,300	-
TAN SRI DATO' YAP YONG SEONG	23-Jul-2018	Acquired	3,377,300	-
DATO' SRI YAP WEE KEAT	19-Jul-2018	Acquired	6,100	-
MR YAP WEE CHUN	19-Jul-2018	Acquired	6,100	-
TAN SRI DATO' YAP YONG SEONG	19-Jul-2018	Acquired	6,100	-
DATO' SRI YAP WEE KEAT	18-Jul-2018	Acquired	4,116,100	-
MR YAP WEE CHUN	18-Jul-2018	Acquired	4,116,100	-
TAN SRI DATO' YAP YONG SEONG	18-Jul-2018	Acquired	4,116,100	-
DATO' SRI YAP WEE KEAT	05-Jul-2018	Acquired	2,500,000	-
DATO' SRI YAP WEE KEAT	05-Jul-2018	Acquired	116,200	-
MR YAP WEE CHUN	05-Jul-2018	Acquired	2,500,000	-
MR YAP WEE CHUN	05-Jul-2018	Acquired	116,200	-
TAN SRI DATO' YAP YONG SEONG	05-Jul-2018	Acquired	2,500,000	-
TAN SRI DATO' YAP YONG SEONG	05-Jul-2018	Acquired	116,200	-
DATO' SRI YAP WEE KEAT	17-Jan-2018	Acquired	86,100	-
MR YAP WEE CHUN	17-Jan-2018	Acquired	86,100	-
TAN SRI DATO' YAP YONG SEONG	17-Jan-2018	Acquired	86,100	-
DATO' SRI YAP WEE KEAT	16-Jan-2018	Acquired	8,000,000

THIS SHOWS THAT DUTA YAP BELIEVES THAT DUTALAND PRICES ARE STILL VERY CHEAP. AND THEREFORE HE IS COLLECTING MORE AND MORE ALL THE TIME.

SO THE TARGET PRICE FOR DUTALAND TO EXCEED RM1.00 IS VERY POSSIBLE

BEST REGARDS

Calvin Tan Research

Singapore

NOTE: At the rate Duta Yap is buying back his Company shares there is a possibility he might also offer to take it private if retail players/investors are not forth coming

Insiders buying and buying might lead to privatisation. Of the Iskandar property stocks of KSL, Crescendo, CView, KSeng, UEMS and Daiman only Daiman Insiders were accumulating and accumulating continually

See FROM DAIMAN WEBSITE

MR TAY THIAM SONG	01-Jun-2018	Acquired	18,500	-
MR TAY THIAM SONG	31-May-2018	Acquired	49,300	-
MR TAY THIAM SONG	13-Apr-2018	Acquired	35,000	-
MR TAY THIAM SONG	12-Apr-2018	Acquired	2,900	-
MR TAY THIAM SONG	06-Apr-2018	Acquired	13,000	-
MR TAY THIAM SONG	05-Apr-2018	Acquired	34,400	-
MR TAY THIAM SONG	03-Apr-2018	Acquired	80,000	-
MR TAY THIAM SONG	02-Apr-2018	Acquired	45,800	-
MR TAY THIAM SONG	27-Mar-2018	Acquired	7,000	-
MR TAY THIAM SONG	26-Mar-2018	Acquired	28,100	-
MR TAY THIAM SONG	20-Mar-2018	Acquired	50,000	-
MR TAY THIAM SONG	19-Mar-2018	Acquired	38,800	-
MR TAY THIAM SONG	19-Dec-2017	Acquired	175,000	-
MR TAY THIAM YEW	19-Dec-2017	Acquired	175,000	-
MR TAY TIAN LIANG	19-Dec-2017	Acquired	175,000	-
MR TAY THIAM SONG	15-Dec-2017	Acquired	19,300	-
MR TAY THIAM YEW	15-Dec-2017	Acquired	19,300	-
MR TAY TIAN LIANG	15-Dec-2017	Acquired	19,300	-
MR TAY THIAM SONG	14-Dec-2017	Acquired	62,800	-
MR TAY THIAM YEW	14-Dec-2017	Acquired	62,800	-
MR TAY TIAN LIANG	14-Dec-2017	Acquired	62,800	-
MR TAY THIAM SONG	13-Dec-2017	Acquired	12,000	-
MR TAY THIAM YEW	13-Dec-2017	Acquired	12,000	-
MR TAY TIAN LIANG	13-Dec-2017	Acquired	12,000	-
MR TAY THIAM SONG	12-Dec-2017	Acquired	73,900

When we buy a Company shares we are either buying pieces of the Company or in the case of Daiman they are now buying the whole Company.

Both shows that there is Value for Insiders/Directors to act.

Now. There are 3 types of Wealth. Past Wealth. Present Wealth & Future Wealth 

1) Past Wealth is represented by a Very Rich Tycoon who has made lots on monies in life. Now he has amassed immense wealth. The bulk of his wealth is invested in real assets like gold, lands, houses & others of real solid value. 

These assets can be converted to cash. Or from cash again invested & converted back to assets. Vice versa. Dutaland is such a type of company. There is very little risk if Insiders/Directors kept up investing their own hard earned monies in the Company & intend to see it does well 


2) Present Wealth 
This type of Company generates Cash & give out dividends as it goes along. Wealth is constantly being generated & given out at the same time. In good times more dividend & in bad times less dividend. So its price can go up or down depending on the market real time. 


3) Future Wealth 
This is like a young guy with high hope of the future. He has bright ideas as to how he will make it big in the future. Now this type of company is selling a "hope" of a coming bonanza from its hopeful future enterprise. But true success is a different matter. For everyone which succeeds there are many others which fall on the wayside. 
So at best it is only a gamble 

THE SURPRISING THING IN BURSA IS THIS 

MOST WILL BUY INTO A HYPE AND A HOPE RATHER THAN BUYING INTO SURE THINGS. 

IN OTHER WORDS, PEOPLE PREFER TO GO FOR A FAST BUCK RATHER THAN PATIENT INVESTING 

NOW FOR THAT THERE IS A HUGE TROVE OF TREASURE STOCKS FOR TRUE VALUE INVESTORS