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2017-10-31 21:26 | Report Abuse
Sharing my 2 cents...
The land is currently valued at 350m on their books (June 17) and the land sale would net an additional 400m gross in their balance sheet. Divide this by number of shares, current NTA estimate is RM1.11 and after disposal cash is actually RM1.54.
Just total cash in their accounts after disposal is RM716m which is 85 cents per share (much higher than closing price).
On the listing status, they have 12 months to remedy it (not immediate, read their announcement). unlikely to fall under PN17 straightaway. Besides if you look at their latest annual report, their property development JV is labelled under continuing operations with revenue of 81m and profit 19m
Stock: [DUTALND]: DUTALAND BHD
2017-10-31 22:18 | Report Abuse
@karhongkhit before sale is 1.11 then add net cash from sale of 0.43 (being 750m - 350m cost of land - 40m transaction cost then divide 846m shares) = 1.54 NTA after sale