even trading by USD can have forex losses. So please be rational, not all export counters will really benefit from weak currency in RM. Operationally, SAM is given a satisfactory result. I believe most of the traders expect SAM will show better Forex gain and yet disappointed.

Dolomite share price is below 50 cents now. Within 10 trading days will see the quarterly result to be released.

Too many ppl chasing this counter. Besides, export counters even though trading using USD, yet the forex gain may not be so outstanding than you think. You won't buy furniture everyday or weeks. It just depend on luck factor, is not operational profit. Sooner or later will have correction that go down to reasonable price. Be rational and trading with care as big shark will be happy to trap innocent fish.

next counter will be SAM

good time is over. Sell....

this correction will be extremely steep, recently this counter just paid 10 sen dividend. This coming quarter will not propose any dividend payout. Wait for 6 months later.

opteron82, Gross Development Value for 1.2 billion are for Da'men, 68 units shop offices and 480 units of service apartments. The costs won't be 1.2 billion so high.

opteron82, do you mean the actual cost higher than the contract value ?

Looks like today will reach 49.5 sen.

Based on Malton's annual report page 14, http://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=172304&name=EA_DS_ATTACHMENTS

Total contract value for Da'men, shop offices and 480 units of Service Apartments are RM426mil.

I believe insiders have noticed the average rental price is changed and start selling. Otherwise, the price won't adjust so significantly.

My apologies for the wrong info. That's difficult to compare as I can't get more info for the shopping complex near USJ. However, the average rental per sq ft at Selangor area is only 10.12. What you think will it get for new complex like Da'men ?

I do not want to make any prediction. However, based on the knight frank (one of the real estate research & consultancy firm) reports dated for 1H 2015. http://content.knightfrank.com/research/179/documents/en/malaysia-real-estate-highlights-1h2015-3065.pdf

The KL golden prime area's average rental per sq ft is between RM6.50 - RM11.00. I do not know how much can rent out at USJ area. Just my opinion, even The Garden Mid Valley also just rent for RM7.80 per sq ft. How much can it rent for USJ ? Even same price with MV, RM9.20-RM7.80 = RM 1.40 or 84 mil lower than RM488 mil.

Why LPI this few years do not release the year end result timely as previous year ? Since 2008 they had release before 10th of January. Last FY, they released it 28th of January. This year still no news as at today

Please have a look on the first day Da'men Open Door. https://www.facebook.com/damenusj/?fref=ts
Many shops yet to start business which also indicates that it do not fulfill the 70% of NLA. Besides, the clause mentioned that if the average gross rent per sq ft less than 9.20, each 10 sen will reduce 6mil of purchase price. Hence, the 488m is subjected to change.

The trend will go down further as investors are starting to doubt on the corporate governance. Wait at 47 sen.

Currently, GOB has 3 proposed disposal, 1) PROPOSED DISPOSAL OF A PARCEL OF LEASEHOLD LAND BY PERTANIAN TAMAN EQUINE SDN BHD FOR A CASH CONSIDERATION OF RM43.30 MILLION, this disposal likely will be completed in this financial year. 2) PROPOSED DISPOSAL OF 51% EQUITY INTEREST IN PENAGA PESONA SDN BHD FOR A TOTAL CASH CONSIDERATION OF RM41.0 MILLION, this disposal may not complete the sale this year as the date of signing was almost end of December. 3) PROPOSED SALE OF A SHOPPING MALL AND CAR PARK BAYS BY EQUINE PARK COUNTRY RESORT SDN BHD TO PAVILION REAL ESTATE INVESTMENT TRUST FOR A TOTAL CASH CONSIDERATION OF RM488 MILLION, this proposed disposal is the most critical and it determined the share price upward or downward significantly. As at to-date, the company is yet to announce whether the conditional of the SPA has become unconditional. This disposal likely will not record in this Financial year end.

waiting at 50 sen.

Obviously the auditors are not doing their job properly and easily get cheated by China Intelligent Businessman. Net assets worth RM3.46 will only take 10% max to be prudence. 34sen will be good buy.

Next quarter, they will have another round of foreseeable losses to provide. Investing in the management that will protect its shareholders rather than the interest of its own directors. I strongly believe that the disposal of BK land is not under the arm length transaction. Even go for "bank lelong" also will not get this kind of price.

Last night, PAVreit announced the proposed acquisition of Intermark. The terms are much more favorable for Intermark. Whereas, the terms given to so called "close relation" to acquire Da'men were unfavorable to GOB. That's is one of the reason the price drop more than 20% after the result released.

Called up to the purchaser Batu Kawan Development S/B and the receptionist said that the holding is Global Oriental Berhad. Probably formerly belongs to one of the director and that's why the disposal is so cheap. Bank lelong also will get higher than this price.

The recent disposal of 51% equity which the company has 2 parcel of land total up to 229.3 acres disposed for RM41mil. Which is RM8 per sq ft or RM350k per acres. Seems like the land in Batu Kawan not so valuable as we thought of previously.

Hi Newbie2, if you buy GL Bhd today, you need to wait until GL finalize the disposal which is estimated Q1 16. Then they will announce the date to pay the special dividend. Not all people will entertain such question because it may have risks that the disposal will call off. The risks now been reduced as FGV eagerly want to increase the bottom line. In this case, patience is needed.

hi, these few days sell down may hint something to us. I have few possibilities in mind.
1) FGV withdraw the purchase of Golden Land. Chances: Low, due to FGV has been suffered from low fruits harvested and cost of replanting will be significant to FGV.
2) FGV delay the acquisition. Chances: Medium, but since FGV's cash pile is sufficient to pay the purchase price without borrowing. So should not be an issue.
3) FGV change the form of investment. Chances: Medium-High, FGV might just take over Golden Land since the big portion of the land worth more than the market capitalization of Gland.
4) Golden Land call off the deal. Chances: Low, due to the proposed special dividend which consist of capital repayment and special dividend have been submitted to High Court.

Hi Martin, news from FGV's quarterly report as below. Time to grab more.

On 8 June 2015, Pontian United Plantations Berhad (“PUP”), a wholly-owned subsidiary of FGVH has entered into a sale and purchase agreement with Golden Land Berhad (“GLB”) to acquire a piece of land owned by GLB and its four subsidiaries for a total purchase price of RM655.00 million. As at 30 June 2015, the Group has paid a deposit of RM65.5 million.
Upon completion of the proposed acquisition, PUP will acquire the GLB land and the shares of the four subsidiaries of GLB namely Yapidmas Plantation Sdn Bhd, Sri Kehuma Sdn Bhd, Ladang Kluang Sdn Bhd and Tanah Emas Oil Palm Processing Sdn Bhd. The proposed acquisition is expected to be completed by fourth quarter 2015.

Kancs, I mean the additional borrowing which is drawn down this year. The disposal of 2 parcel of land received the cash around 130m + additional draw down this year of 70m, Which is already 200m. How much funds needed to build Da'men ? Why need to pay additional interest when the company have 115m of cash ?

Gearing is at high risk now. Might be due to mismanagement of cash that's why even disposal of 2 parcel of land, the borrowing still increased by 70m. Certainly need to sell Da'men anxiously to get the money.

Hi David, if the quarterly result is bad. This few day won't have so much volume traded. I believe the result will be out by today.

Why EPF can purchase this counter for more than 1.3mil shares? This is against the EPF Acts.

http://www.hlib.hongleong.com.my/Published/Download.ashx?ArticleId=6175&mode=view

please read the latest research published by HLIB.

waiting for this quarter result as first quarter already 17 sen. This quarter if can reach 20 sen consider excellent year ahead.

Site progress for Damen's shop lots and residential looks encouraging. http://www.gob.com.my/damen.php

The gross profit margin from Sabah plantation is more than 20% and this is incredible.

Hi Martin, we can see from segment report, the discontinue business is actually contribute higher profit margin despite of drop in CPO price. Which mean that the cost control is much more efficient than previous year. The longer period FGV do not pay the proceed, we can expect the profit will be higher than this year.

Huge sell force stands at 0.63, it makes GOB difficult to go through the resistance level of RM0.635

Martin, based on the announcement. Yes. The plantation was proposed to be disposed to FGV for RM 655 mil.

Hi Martin, don't you feel that GL announced the special dividend quite early ? Normally those companies will wait until receive the money and make sure everything ready only make that significant dividend. However, GL announced the dividend even before the EGM. It's seems to me that they are highly confident that FGV will purchase from them without any risk to cancel the deal.

Martin, as and when GL received the monies from FGV then they will request to suspend. So, at that point of time will limit up because this is unreasonable for a share price which is lower than the cash holding by so much.

Wow, this article told us the truth for all china companies. Integrity of the management is highly in doubt.
http://klse.i3investor.com/blogs/sinchew_company_story/84629.jsp

Hi Martin, as I observed most of the counters which disposed off their assets such as CI holding, HwangDBS, Jobstreet or Technip. After their capital repayment to shareholders. It still stand at higher than the cash value holding. So, i do not worry to hold or even buy more at this point of uncertainty.

Hi Acelee, we know capital repayment will have effect on share price. Just based on the calculation to verify the fact. Based on the share price of RM1.68 @ 222m shares = market capitalization of RM 375mil. Capital repayment of 75 sen x 222m shares = RM166.5m + special dividend of 13 sen x 222m = RM 29m. Total dividend payout = RM195.5m. Current market capitalization RM375mil - dividend payout RM 195.5mil = RM179.5 mil which mean per share @ 80sen after the dividend payout. However, the company still holding RM459 mil of cash. As per June 15 AAA, Gland owing bank amounting to RM 130mil. Balance after repayment of loan = RM459m - RM130m = RM329mil. Cash per share RM1.48.

Hi martin, thanks for your review on technical analysis. I bought because one of the executive director is holding another directorship in a listed property counter. Hence, I believe that director can assist Gland with his skill to venture into Property segment. Once they have plenty of cash, then slowly will convert into property development.

hi martin, this is just my logical thinking as I think capital repayment should not affect the market capitalization and I could not find any example from Bursa. Furthermore, many people do not want to buy those companies with ambiguous corporate exercise especially involves capital repayment. The reason why I think capital repayment should not affect the share price because let's say based on the current share price at 1.65 x 221m = 365m, then after capital repayment and dividend of 88 sen is 0.77 x 221m = 170m. Market capitalization of RM170m but holding RM475 mil of cash (before minus borrowing) is unreasonable. So, I believe the share price somehow will reflect positively.

Caocao, you are right. However, that piece of land have been proportioned into 3 different projects which are Da'men, shop lots and the service apartment total estimated GDV of RM1billion. Besides, the jv agreement was to complete the development within 7+2 years which is 2020. Yet, after this disposal, GOB will foresee to have brighter future due to holding huge cash pile for another development which located at Jln Ampang.

Targeted Q116 will reach RM2 and after the High court approve the capital repayment will reach 2.50 to 2.80. This is because even after the dividend, the company still holding huge cash pile for future development.

The disposal should be quite fast, expected to complete at Q1 2016. Just the capital repayment might need to take longer period due to subject to High Court approval. However, both should not be an issue because once Gland received the payment from FGV then will approve by HC.

The resolution were duly passed. Now, we just wait for submission to High Court.
http://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=9391&name=EA_GM_ATTACHMENTS

By this time the EGM should be finished.

martin, what I think about the capital repayment is originally from the par value of RM1. Now, Golden Land repay back to shareholders the initial capital invested of RM0.75. Hence, the number of shares do not reduce and market capitalization should not affected by it also.