Now, There is less pressure for him to raise $$$ by selling off some of his assets..

He managed to bring his divorce case back to msia. Media speculated that his wife will get lesser $$$ if the case is heard in msia court.

good evening Calvin, haven't seen your postings for some time. How have you been? Where is this bandar springfield. Can't find in google map. Are you refering to Bandar Springhill? It's actually not that near if travel on the road. About 18 to 20 km.

Calvin, be careful of syndicate operating at auction properties.

FYI.. Yesterday, I was at Whampoa, NTUC supermarket. I was browsing through the chocolates section. I was surprise to see that Tango chocolates were not there. Luckily, a staff was replenishing some chocolates so I asked her. She told me that Tango chocolates ran out of stocks, not just in Whampoa NTUC but many other NTUC branches all over Spore because the warehouse ran out of stock. They have to wait for the supply from Malaysia and it will take some time.

Good news - It is good to know that Tango is well known and is in high demand in Spore. PM Corp has a bright future.

Bad news - It's 5 more days before Christmas. You might want to give a call to NFI lady manager there to chase her to send in the supply. :)

CORUS HOTEL HYDE PARK should worth a fortune. A large hotel situated at Central London.

It is very difficult to put a value St James Hotel at Grimsby but definitely above RM 1.7 million. Just don't be too hopeful. Location is not good. Far away from London and the commercial and residential homes in Grimsby are cheap.

http://uk.businessesforsale.com/uk/Albion-Public-House-Hotel-In-Grimbsy-For-Sale.aspx

Can't find any info for guidance except the above. If you loosely base on this public house hotel in Grimbsy for sale posting, St James Hotel should be worth around RM 9 million conservatively. This figure could deviate substantially from the true value as I don't have time to research the difference between public house hotels, guesthouse and hotels.

Hi Calvin,

We cannot value this way as the motel does not occupy the entire land. It is just a fraction of the entire land. If you look at the google earth map link above, it is most likely about 20%(motel + a small swimming pool) of the entire land. The whole motel and land is right at the end of Kirby Court road.

Therefore, it is better to value the land and the motel separately. I try my best and again this is only estimation. I will estimate this conservatively.

Motel size, 20% x 24970 sqm is about 5000 sqm.

http://www.realcommercial.com.au/property-retail-tas-hobart-500869595

Using above shop house valuation as a guide,

Since 150 sqm worth AUD 310,000,

5000 sqm is worth about AUD 10.33 million.

I will discount this 20% as I would like to value the motel excluding the land value.

80% of AUD 10.33 million is about AUD 8 million.

So the motel value is about AUD 8 million.


To value the land at Kirby Court, see the link below,
http://www.domain.com.au/Property/For-Sale/Vacant-land/TAS/West-Hobart/?adid=2010849788

There is a plot of land Tennyson Court, West Hobart for sale.
Owner is asking 200k to 300k for 779 sqm.

Tennyson Court road is less than 1 minute walk from Kirby Court. See google map. So it is quite accurate to use these numbers to value the land at Kirby Court.

I will use AUD 200,000 for 779 sqm (lowest end of the asking price)

24970 sqm / 779 sqm = 32 times
AUD 200,000 x 32 = AUD 6.4 million

Land + motel = AUD 6.4 million + AUD 8 million = AUD 14.4 million
AUD 14.4 million x 3 = RM 43.2 million.

Cheers!

sklyte, thanks. That is a huge area. Its difficult to give any estimation as there is not enough info about the hotel on that land.

If you use google earth, and enlarge that area, it is a very high probability that it looks like a motel and it doesn't occupy that entire area. That area is surrounded by a lot of greenery and it's near Knocklofty Reserve(a huge forest). It is not near CBD area. See link below. Remember to enlarge it.

https://maps.google.com.sg/maps?hl=en&q=Kirby+Court,+West+Hobart,+Tasmania&ie=UTF-8&ei=e2eqUru1A4mCkwXwvIHIAQ&ved=0CAoQ_AUoAg

Dear Calvin,

Again, I will base on certain assumptions and value this property conservatively base on whatever information which I could find.

I will assume this property is freehold as most of the commercial properties in Australia(incl. Tasmania) are freehold.

I found one shop house(which has a valuation of AUD 310,000, with 150 m2 area) at 217 Liverpool Street, West Hobart. It is less than 5 minutes drive from the address which you have given me. So, I will assume the valuation will be roughly the same around that area.

http://www.realcommercial.com.au/property-retail-tas-hobart-500869595

Also, due to insufficient info about the hotel on that land, I will assume that it is NOT going to be a 4 or 5 star hotel but more like a motel(there r motels around there and I would like to value this conservatively). I also assume the valuation for shop houses is roughly the same as the hotel as both are commercial property but in reality the actual valuation is different.

Here you go,

24,970 sqft = 2320 m2

2320 m2 / 150 m2 = 15.5 times

Since 150 m2 worth AUD 310,000,

the land and hotel is worth around AUD 310,000 x 15.5 = AUD 4,805,000

AUD 4,805,000 x 3 = RM 14,415,000

So the hotel + the land at Tasmania could be worth around RM 14.5 million

Cheers! Vested.

Calvin, what's the actual address for mui property at Hobart, Tasmania?

Calvin, great comment. You should be a preacher. Don't build homes anymore. Build lives..

Calvin , what is their profit margin if they continue to sell their chocolates at these prices? The next cheapest price is selling more than 3 times of tango price.

Tango price just got cheaper. Selling at 45 spore cents all over ntuc..

Calvin, you have done a marvellous job. You do not need to win every argument here. Naysayers are here to tired you out. They will surely find fault with you because all of us are imperfect. Nobody can time the market perfectly. Do take comfort that people who are talking down this counter .. because they have missed the first boat and wanted to buy this counter at a lower price otherwise they wouldn't waste time attacking you on a daily basis. If this is such a lousy counter, why do they waste time to do research and put up numerous postings here. Might as well spend time to do research in other counters.

Paul was persecuted because he shared about the grace of God. Salvation was given to all those who believe. Unearned , unmerited favour. However, people cannot believe such good news and wanted to work their way to heaven. You have shared enough.. forummers can determine and make decisions for themselves.

When Jesus started His ministry .. not everyone believe Him especially the Pharisees. They were jealous of Him because large crowd follows Him wherever He went. They started to plot a trap and accused Him and finally crucified Him. Little did they know, that His death paid for the sins of the world(past, present and future) and brought salvation to mankind. God gave choices to mankind and He never take this away.. forummers can determine for themselves..

Last one. The cunning serpent initiated a conversation with Eve and painted a stingy God with it's crafty questions. If Eve had stopped her conversation, sin would not have entered the world through mankind..

Rest well and good night!

Calvin, you mentioned that 85% Of The Total Listed Shares of PM Corp are owned by Top 30 Share Holders. How much shares does MUI(including subsidiaries) owns PMCorp?
You got the breakdown of the top 10? Some of them are related to one another right..

most likely capital reduction news might have reached the big boys...

enjoy the ride everyone..

don't buy and sell.. think mid to long term. It is a good company. Cheers!

Thanks Calvin.

Thanks Calvin for your sharing.

Who is Mr Ong Teck Peow? What is his relationship with PMCorp?

Thanks member41.

Sang - jero, it won't go back to below 10 cents unless WWIII. Situation and circumstances have changed. Previously one major shareholder(think related to government, I can't recall the name. See Calvin's postings) selling down it's share because PMCorp changed it's div policy. Some fund houses are very strict. They have to invest in companies that pays div yearly bcos of their policies. 10 years later(now), 3 new directors and 1 director passed away bcos of age. They are planning for capital reduction. What does it tells you about the company policy? It shows that ppl have changed and they are willing to change.. Well it might not be a drastic change but it is a good start.

Another thing to take note, usually, market do not like shares consolidation. Share prices has the tendency to overshoot on the downside after consolidation. However, if the company continues with it's low penny stock status, it share price will not appear in most of the fund houses radar. Some big funds have strict criteria to invest only in companies above a dollar, for example. Therefore, not many people will know no matter how good the company is. I worked in a foreign inv bank b4.

Right now, major shsholders and parent company hold about 85% of PMCorp. Calvin and friends in Johor(Iskandar) holds about 5%. Only about 10% shs are in the market. This counter is not easily manipulated by syndicate. In fact, your 'voice' will be louder if you join Calvin and friends at AGM. I hope I don't get Calvin into trouble by saying that... :)

Having said that, there are no risk free companies in the world. One has to take responsibility to do his/her own research and take calculated risk. I m not a trader neither am I a long term investor. 5 to 10 years is good for this company to prove itself since things have now stabilize. Bought more at 17 cents yesterday. Cheers!

Possible.. in fact wait for 0.01 when Christ return. Cheers

240 000 shs buy up at 0.185. Was there any bad publicity in the article? Did the bad publicity made the public realize how undervalue this company is?

Anyone subscribe to online Focus care to share the entire article? At least the public can distinguish between facts and opinions. Cheers and Thks!

Hey HJey, your questions are full of anger. Calvin does not owe you a living. There is no need for him to answer you. Did you pay him to do reaeach for you?? Throw your big ego away. Even if he does not answer you, there is no need to put it that way. Learn to be tactful and appreciate yo!

Good morning Calvin, I m amazed by the sheer amount of research that you have done. Incredible!

The mesg about The quality of their chocolate has to reach the general public otherwise people will never know how good their chocolate is. They need to spend some money to market his message. Once people know about this, their sales will explode. It's like the unstoppable train
Show- Denzel Washinton.

People wouldn't take time to compare the cocoa compound with every other chocolate brand out there.

I do agree with you about that the integrity of the management is utmost important beyond just giving out dividend on a regular basis. However, I also find that it is subjective and it's very difficult to observe with their words alone. I m not so sure about Msian directors but most of the Spore directors are quite persuasive and eloquent. They may be very convincing during AGMs but actions taking place may take years to realize.. What are some of the things they mention that convince you and show their integrity?

I just came back from Vivocity.. hmm cannot find Tudor brand at Giant. Later, I will be going to NTUC to check out..

Anyway, I have vested interest not because of the business alone but it's extremely undervalue properties and it's cash rich..

Calvin,

I m going to give a rough valuation for that industrial land's address as I m going to make certain assumptions.

1) It is near Shah Alam Section 16 and I assume that the land next to Network Food Factory should be seating on a 99-year leasehold land as most of the factories there are seating on a 99-year leasehold, correct me if I'm wrong..

2) Base on propertyguru website, (http://www.propertyguru.com.my/commercial-property/2?listing_type=sale&region_code=MY10&property_type_code[]=FAC&property_type_code[]=WAR&property_type_code[]=ILAND&districts[]=SL066&freetext=section+16&sort=price&order=asc&submit=Search)

The cheapest factory/warehouse was valued to sell at RM194 psf (RM16 million per 82,500sqft). However, the owner is trying to sell 10% below valuation which is RM 169.70 psf. (For simplicity, I will ignore the base price of listed auction properties in that area as it may not reflect the true value when bidders start their bidding..)

Other properties listed around that area are between RM 170 to RM230 psf. I'll take RM170 psf to calculate. (conservative)

3) 6 acre land = 261,360 sqft
261,360 sqft x RM170 = RM 44,431,200

Please note that this is a conservative figure. Feel free to comment..

Thank you very much for your quick response. What is the actual address for that piece of land at Shah Alam?

Hi Calvin,
Thank you for your in-depth sharing. I would like to ask some questions.
1) what are the directors compensation(salary)? Is the range comparable to the market industry which have the same business.. (Chocolate)
2) what is the status of the new factory in shah alam which they bought in 2009? Have they started production?

The reason I asked about their compensation because they are undervalue companies out there where they pay themselves massive salaries. Ex. Hong Fok, a spore property company which has many years where the stk price is substantially lower than its NTA. Their salaries r even higher than some of the property big boys in Spore(ex Capitaland, Keppel land etc) No regular div and They don't give a damn to their shareholders.

Appreciate if you can answer the questions. Thks!

(I m vested in PM Corp not too long ago)