By comparison, all steel related counters rallied strongly but not Chuan Huat. Dato. Dont wait for Mama to pass down her shares to you. You must grab them cheap from the market now. What are you waiting for?

Useless steel counter. All steel counters rose 100% already but not Chuan Huat. Dato Lim not pushing his own counter. Only waiting for mama to give him free shares due to old age. Despite having a very high nta, this counter is still at 40 sen. If Follow Masteel, Chuan Huat should be at least over 60 sen by comparison.

This counter satisfy Koon Yew Yin strict checking and observation before investing. A very good future growth company must not ignore. Profits for the past six qtrs. Cash Rich without bank loan.

Buy and accumulate more Fintec. Make your money and keep quiet. There are huge and tonnes of money to make. Just buy and keep quiet. OK. Understand. Cheers.

Nemesis. Well said. MK Land shares should catch up with E&O share prices easily. Thanks for your realistic comparison between E&O 1.4 billion shares and MK Land 1.2 billion shares. Both are RM1-00 shares too?

Queing to buy at 19 sen now. Buy before the big boys come back after 2020. Hope some weak fellows sell to me. 500,000 units queing.

It will fly after this year end. The big investors are still on leave now. Better grab before they come back.

Thesteward, I personally think Kasi did not sell his MK Land shares. He is still holding until today because he bought his shares way back in 2002 at a price of RM1.45 a share. Really. He bought them together with TS Mustapha Kamal at RM1.45 a share when they both injected their properties into MK Land at cost in 1999 when all their properties were injected at cost until now. If you look at his voting recently in the 2020 AGM, he still support MK Land management 100%. His portion of shares he is holding since 2015 never change. Only some investors left us and that are normal. Investors come and go. Today, we know that MK Land is undervalued as their properties were never revalued since 2000 till now, it is best time we accumulate now before the big investors come in.
Lets do it now before it is too late for opportunity like this comes very rarely. I only believe those earlier press media reports were wrong in guessing there were tussles inside this group. In fact, there was none. Please do your own research by running through all the annual accounts and see for yourself P. Kasi shares never changed at all the past 10 years.

Yes. Perak Corp signed an SPA with Socso on the 17/12/2020 for the sales of Ulu Kinta 50 acres land for RM78 Mil. This Ulu Kinta land is next to MK Land who also possesses 92 acres of Ulu Kinta land there. Just imagine how much MK Land owning 92 acres Ulu Kinta lands worth?

True. Very true. Just do a simple calculation like that is enough to get the true value of MK Land. Cheers.

Yes. Nemesis. Today, at last someone big buying in today. Thanks for his or her support. Together we hold on to MK Land and keep up my good and honest works. Congratulations nemesis. We are moving now. Don't sell your holding now because 17 sen is still 600% below the current declared NTA of the group. In fact, MK Land real worth is more than at least RM1.50 to me.

Nemesis. You have my 100% support. I support MK Land till the last because I have very strong infinity and adoration towards Tan Sri Mustapha Kamal's leadership in businesses and his works. He is my strongest personal mentor and business follower in my real life since 1983 till now. If anyone of you knows how MK works and how serious he is at works, you will understand he is a no nonsense person and down to earth a very hard working person I ever seen. Salute Tan Sri Datuk Mustapha Kamal Abu Bakar.

Everybody in the market today chasing after speculative stocks like AT, Ages, Yong Tai, Huaan, Mjperak etc for short term gain. In reality, MK Land fundamentals are stronger than all of them in all aspects. Correct that nemesis said. RM1.50 to RM3.00 RNAV for MK Land if all the land banks MK Land has are revalued.

Yes. Buy when it is still cheap. The time is now. 15 going to 16 sen. Soon big investors start to invest into MK Land due to its superb low price which is >600% below its real value. Your opportunity is gone. MK Land a group run and founded by TS Mustapha Kamal is a no nonsense and real down to earth man. He nurtured this group MK Land into such a successful public listed baby of his. He will never neglect it and let it stay as a penny stock forever. One day he would buy back all its shares to privatise it for his own family use or he may let it go to bigger conglomerates who are eyeing or interested to own MK Land. The time is now to buy into MK Land and you will never regret buying an undervalued gem which is still less than 20 sen a share while the real intrinsic value is RM1-00 and it is a RM1-00 par value share.

Targetted price this week end around 20 sen based on today's momentum. Great news coming from MK Land.

Good for the economy as liquidity is coming back to the market. Good sign for all investors. Waking up mood.

This I called VALUE INVESTING in MK Land.

The recent concluded AGM confirmed showing us that MK Land Management and BOD received 99% backing from the shareholders. There was no sign of any power struggle or discontentment amongst the shareholders and the BOD. This shows MK Land is steady and poised for progress and easy management. Keep up the good works done. Wishing MK Land all the best and be progressive and prudent. No pain no gain. Nemesis, have faith in MK Land management. They are all professionals and we will receive good news once the property market moves up in no time. Be patience for the time being. No worry buying more MK Land shares. We are now buying at approximately 660% discount at the price of 15 sen a share. Even if we keep the shares long long term, our annual return rate is more than 6.6% pa based on 1 sen dividend per year. If MK Land pays twice 1 sen dividend a year like they have done before, our annual return rate is more than 13% pa.

Agreed with Nemesis 100%. I have bought quite a substantial amount of MK Land shares. I will surely keep it long term. Cheers. Keep accumulating at this low prices. You will be rewarded eventually by the grace of God. Have faith. Brothers and Sisters. Do not worry at all. MK Land is holding billions ringgit of lands and assets.

Honestly speaking. If Yong Tai can reach 39 sen a share. MK Land be able to reach 78 sen too.

Comparison between YT and MK Land:

If we follow MK Land consistency in producing profits year after year, Yong Tai loses to MK Land . Compare with size, lists of properties and cash availability, MK Land wins them all. But why Yong Tai moves up so fast is because of the smallness in shares only. Yong Tai is not even a RM1 share like MK Land. MK Land, based on stability and capabilty, surely their shares should be around at least 50 sen a piece which is still consider as undervalued or buying at 100% discount at the price of 50 sen. Check it out yourself.

MK Land presented the best profit records constantly over the last 5 years I see above. What a wonder and excellent Accounting records so far so good. Excellent.

Keep it up. MK Land will be back to 40-50 sen level by CNY if the current market sentiment continues to be up and up like all Steel Counters and Glove related counters.

This year AGM on the 8th Dec 2020, nobody needs to attend except the BOD. They are using internet conferencing though https:\\tiih.com.my and investors have to register with tiih online in order to log in. Just wondering, the above topic of discussion for share restructuring exercise like splitting from 1 to 10 or consolidation from 10 to 1 can be considered into their agenda of the AGM. Someone please help to inform tricor to include this question into their 15 minutes Q&A session. Thank you Directors of MK Land if you are listening. Thank you .

With MK Land AGM coming this 8December2020, I strongly propose that MK Land does a restructuring exercise as I mentioned above. Thank you. If MK Land really wants to bring up their share prices.

This MK Land with an NTA of 99 sen a share is now available at only 14.5 sen. What a under valued gem not noticed by the public. This stock if buying has a very great potential of going up 300 to 400% and yet can consider cheap at 30 or 40sen. If only the group does a restructuring exercise like share splitting or share consolidation. It will fly like nobody business. Take for example. What if MK Land goes for share splitting 10 for 1. Now at 14 sen, the new share after splitting will automatically be adjusted to 1.5sen. So it is an automatic gain of 10% allready. But following the splitting, share prices are expected to move into step of 0.5 sen a share.
Therefore, if move up 0.5 se, MK Land price will become 2.0 sen which is already 30% increase. What a good idea if MK Land do proposes such a move in the near future. THINK ABOUT IT. MK LAND DIRECTORS. Either way, doing a share split or share consolidation (both ways) will increase MK Land shares upward tremendously because if consolidates, their NTA will become higher and higher. For example, if MK Land proposes 10 shares to 1, automatically their NTA becomes RM9.90 per share. What an idea? How can RM9.90 NTA share be selling at RM1.40 ? Right? Just THINK. MK Land directors can do it so easily.

n This MK Land with an NTA of 99 sen a share is now available at only 14.5 sen. What a under valued gem not noticed by the public. This stock if buying has a very great potential of going up 300 to 400% and yet can consider cheap at 30 or 40sen. If only the group does a restructuring exercise like share splitting or share consolidation. It will fly like nobody business. Take for example. What if MK Land goes for share splitting 10 for 1. Now at 14 sen, the new share after splitting will automatically be adjusted to 1.5sen. So it is an automatic gain of 10% allready. But following the splitting, share prices are expected to move into step of 0.5 sen a share.
Therefore, if move up 0.5 se, MK Land price will become 2.0 sen which is already 30% increase. What a good idea if MK Land do proposes such a move in the near future. THINK ABOUT IT. MK LAND DIRECTORS. Either way, doing a share split or share consolidation (both ways) will increase MK Land shares upward tremendously because if consolidates, their NTA will become higher and higher. For example, if MK Land proposes 10 shares to 1, automatically their NTA becomes RM9.90 per share. What an idea? How can RM9.90 NTA share be selling at RM1.40 ? Right? Just THINK. MK Land directors can do it so easily.

Yesterday, Ismail Sabri said the work-from-home directive only applies to those involved in industries under Miti and in the government or public service.

He had said the rest — security personnel such as the police and army and informal sectors such as agriculture, plantation, food, hawkers, food stalls, restaurants, food courts, grocery stores, convenience stores and retail sector, public transport and food delivery services — are allowed to work as usual.

Amtek shareholders meeting today must be attended fully today because we are discussing the winding up of the group or the sale of your shares back to the group. The meeting can be very heated if the group is not treating the minorities fairly. Meeting starts at 11.45am today. Reporters and Shareholders, please be informed. Thank you.

Amtek now is a piece of cake. Wherher it is a big cake or a small cake, the directors should now invite us to take a look on this piece of cake and share. Remember, sharing and caring and no one should be selfish. This piece of cake is not small. It is 7 acres in size situated in PJ old town. We want to know more on who resides on the land, what and how we can make use of the land. Be transparent. OK.

Malaysian Minorities Watch Dogs, you are failing the people and investors of Malaysia. How shameful of you.

After delisting, it does not mean that the management and directors can do according to what they like without thinking of all the minority shareholders. SC , SSM and Bank Negara please take note of Amtek Holdings Berhad. Something is definately hiding inside their agenda. Even the current Notice of AGM for this year is less than 28 days.

The current usage of the 7 acres land in Petaling Jaya is also a big question mark. 7 acres of prime commercial land beside DHL Express and Continental Tyres only attracted slightly over RM200,000-00 in their income. What and how it can happened? Please answer this question to our current shareholders. If they take the group private and delisted, their intention of their land usage was changed to their own director's use, we should duly request that they buy over the properties and declare the true and fair value of the land according to the current market price. Why didnt they do that???????????????????????????????????????????????????

No mention of any current shareholders statistic and no mention of the group assets and properties are almost amount to fraud and open cheating of the public who invested in the company before delisting. I also appeal to the Securities Commission, the Bank Negara, the SSM and the commercial crime police department to question their motive of delisting.

The website of Amtek Holdings Berhad is not updated @ today 07/12/2019. The communication between the shareholders and the board of directors are zero.

The Board should continue to stress its overall responsibilities for maintaining and ongoing reviews of the adequacy and integrity of its Group’s system of internal control to ensure that the shareholders’ investment and Group’s assets are safeguarded.
The Company’s Statement on Risk Management and Internal Control is Not included in the annual report for the financial year ended 30 June 2019.

Buying Catskill is an excellent move in view of our own political uncertainty in our own country. One day democratic. Next day islamic.

Remember the besi buruk that GenM going to buy has a lot of good grade and highly valued steel structures that can easily fetch very good prices only LKT knows. Furthermore, Empire Resorts minorities are now asking for US14 a share and not US9.74

Already there are so many ppl trying to leave HK recently.

Maybe troubled HK politics is forcing Billionaire Li Kha Sing to make a move to acquire Empire Resorts at a much higher price than GenM offers. Who knows?

Something is coming up soon after this 10 business day. Deja Vu to all GenM shareholders.

-A+A
THERE is a feeling of déjà vu at Genting Group.

It plans to spend a substantial amount of cash on buying an asset belonging to Kien Huat Realty III Ltd through Genting Malaysia Bhd (GenM). Kien Huat is linked to the founding Lim family.

This related-party transaction (RPT) will see GenM spending US$128.6 million (RM539 million) on acquiring a 46% stake in loss-making New York casino operator Empire Resorts Inc, which is listed on the Nasdaq.

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GenM and Kien Huat will also offer to acquire the remaining shares not held by them at US$9.74 apiece.

A joint venture between GenM and Kien Huat will then be formed to hold the stake in Empire Resorts — a company that has been posting net losses since 2015.

Kien Huat currently owns 84% of Empire Resorts’ common stock.

The shock move wiped out RM2.55 billion of GenM’s market capitalisation on the day after the announcement. Although the stock subsequently bounced back, there was no doubt that the minority shareholders were unhappy.

This is the third RPT by GenM in about 11 years and some analysts have downgraded the counter.

What benefit does the group see in RPTs? They are often viewed negatively by the investing community, which believes that they do not promote good corporate governance.

GenM declined to comment on this when contacted.

Some industry observers are wondering why the company is buying only a 46% stake in Empire Resorts and not the entire stake held by Kien Huat.

GenM declined to answer questions on this as well.

Perhaps this is to avoid having to call for an extraordinary general meeting to get shareholders’ approval for the purchase, say some observers, who include analysts and bankers.

“For an RPT, the ratio prescribed by the listing rules is 5%. In this instance, the transaction is below the 5% ratio threshold that would trigger an EGM (extraordinary general meeting) to obtain approval from shareholders,” says an investment banker.

Some observers fear that GenM will buy more shares in Empire Resorts in the future.



Past RPTs

In 2008, GenM’s share price fell 17% following an announcement of the purchase of Walker Digital Gaming for US$69 million from the Lim family. Then, in 2010, a proposal to acquire the UK operations of Genting Singapore for £340 million caused the stock to fall 10%.

GenM recognised an impairment loss of RM48.6 million on its investment in Walker Digital in FY2009, just a year after the group bought the company in 2009.

The group then recognised another impairment loss of RM108 million, being the excess of the carrying value over the recoverable amount, charged to the profit or loss in FY2010. This means GenM recognised a total impairment loss of RM156.6 million in the two years after acquiring Walker Digital.

It is unclear if Walker Digital ever contributed to GenM’s earnings as there has not been any mention of it in the latter’s annual reports from FY2012 onwards.



A look at Empire Resorts’ numbers

Empire Resorts owns and operates Resorts World Catskills (RWC), a casino resort located on a 1,700-acre site in New York.

In FY2018, Empire Resorts suffered a loss of US$138 million, mainly due to the high start-up expenses incurred in the commencement of RWC. It also posted losses of US$25 million to US$46 million in the preceding three years.

Empire Resorts’ losses expanded to US$37.6 million in the first three months of this year from US$26.3 million in the previous corresponding period.

In 1Q2019, gaming revenue was up 56% year on year to US$44.6 million while gaming expenses grew 65.6% to US$35.3 million. Meanwhile, racing revenue was down 7.4% to US$1.2 million and racing expenses were up 28.6% to US$2.2 million.

Empire Resorts had US$1.2 billion of total payment commitments as at March 31, of which US$112.7 million will be due in less than a year, US$242.8 million in one to three years, US$487.3 million in three to five years and US$351.4 million in 6 to 40 years.

In its list of payments due, there is a Kien Huat subordinate loan of US$39.7 million that will mature on Dec 20 next year.

For 1QFY2019, Empire Resorts’ interest expense jumped 620.7% to US$17.3 million from a year earlier.

“If Empire Resorts restructures its loans to bring down the interest expense, it will save a lot. Gaming revenues are up and it has also just introduced sports betting — that could help the company turn around,” says an analyst who covers the stock.

“All the previous GenM RPTs — Walker Digital and the UK business — have seen the company selling out completely … this is the first time that it wants to privatise something. It’s strange … does it see something that we don’t?” he asks.

GenM said the deal to acquire a stake in Empire Resorts will “better position the Resorts World brand in the northeastern US gaming market through more effective cross-marketing with Resorts World Casino New York City”.

The company added that there will also be “revenue and cost synergies” from the arrangement, and

Not declaring bankrupt but only using the Bankkruptcy Act to file for reorganisation. Two different thing altogether.

https://youtu.be/89qdzDO5z0E