Posted by calvintaneng > 2016-10-08 14:26 | Report Abuse

Gen2

According to Annual Report

Bpuri has Rm205 millions in Main Place Mall.
The figure is given by Bpuri

Go and check it out yourself

Posted by chowsingchi > 2016-10-08 14:32 | Report Abuse

but they still owe bank 400million....205mil in main place mall only can settle half wor.... the other half how?

Posted by calvintaneng > 2016-10-08 14:37 | Report Abuse

There are so many other pieces of real estate .
A row of shop houses in kl.
Toll road concession
Power assets
Lots of other condos
Quarry and concrete mixer batching plants

In total

all combined debts minus total combined assets

BPuri still has NAV of 93 cts.

Posted by chowsingchi > 2016-10-08 14:40 | Report Abuse

if they have so many assets why still need private placement le? what happened to all their operating cash flow le?

Posted by calvintaneng > 2016-10-08 14:45 | Report Abuse

Assets can be sold down if they wanted to like Pm Corp selling factory in Singapore and selling laura ashley franchise in South America.

Why ask for pp?

I think they already stated

1. Par down debts
2. Cheaper way to raise funds. No need to pay bank interest.
3. Funding for ongoing projects and more new projects on the way

Posted by chowsingchi > 2016-10-08 14:52 | Report Abuse

hmmm negative CFO...interesting

Posted by Gen2 > 2016-10-08 15:08 | Report Abuse

.
Calvin, please post the proof here to justify what you said of 205m. Thanking in advance.
.

Posted by calvintaneng > 2016-10-08 15:11 | Report Abuse

Gen2

Do you know how to access Annual Report of Bpuri?

Go to Bursa Saham website.

Search under Bpuri

Click annual report 2015.

Got it?

Then scroll all the way down.

You will see 2 things

1) 30 Top share holders
2) Properties ownen by Bpuri

Now look carefully under Usj Main place mall

It stated there - Bpuri assets is worth rm205,000,000

Posted by calvintaneng > 2016-10-08 15:18 | Report Abuse

I am now sitting in McDonald restaurant in Iskandar. Just looking at my handphone to confirm it with my eyes again.

Yes,it' s stated clearly that Main Place Mall

Bpuri net value in assets is rm205,000,000

Wish you are now sitting beside me so that I can show it to you

Posted by Benjamin_8888 > 2016-10-08 15:38 | Report Abuse

Which McD u at now?

Posted by calvintaneng > 2016-10-08 15:38 | Report Abuse

Masai

Posted by newbie92 > 2016-10-08 15:39 | Report Abuse

Near Regency hospital?

Posted by calvintaneng > 2016-10-08 15:42 | Report Abuse

That is Sri Alam

I now in Kota Masai

Coming call me at 0146101668

I will belanjar Big Mac, ok?

Posted by Gen2 > 2016-10-08 16:47 | Report Abuse

Ok. Thanks Calvin noted that!

Posted by Benjamin_8888 > 2016-10-08 17:58 | Report Abuse

I'm too far from kota masai, next time. Any good project there?

Posted by calvintaneng > 2016-10-08 18:13 | Report Abuse

Yes, ecoworld and mahsing bandar meridin east houses selling well. I came here to check up on Bpuri's jv with Nusa Damai Prima projects.

Think Bpuri apt will sell well due to its proximity to Bandar Sri Alam. Bandar Sri Alam is known as the City of Knowledge as there are many uni and higher institution of learning here.
Since apt is medium cost there will be great demand as student's hostel.
And education is quite recession proof

Posted by calvintaneng > 2016-10-08 18:14 | Report Abuse

Haha! I AM HAVING FISH SOUP DINNER IN TMN PERLING

DO DRIVE HERE STRAIGHTAWAY.

CALL ME AT 0146101668

YOU ARE WELCOME

Posted by calvintaneng > 2016-10-08 18:15 | Report Abuse

Alan Gan call me please at 0146101668

Posted by calvintaneng > 2016-10-08 18:27 | Report Abuse

Where you stay?

I travel whole Iskandar every week.

Sms me where to meet.

Will call you when I going there, ok?

Posted by promote > 2016-10-08 19:09 | Report Abuse

bE WARY AND EXTREMELY cCAREFUL, about this CALVIN, THE BROTHER OF CHARLIE.

HE HEAVILY PROMOTED BJCORP (60SEN), MULPHA(42SEN), PERISAI(50SEN), ALAM(50SEN)ONCE.

HE just slightly, or cincai promoted SUPER.

If you don't know what I mean, you are in great danger. Good bye.

Posted by TheContrarian > 2016-10-08 19:12 | Report Abuse

Who is Charlie?

Posted by Adam Khoo > 2016-10-08 20:36 | Report Abuse

I am here just to point out the reasons why BPURI EPS is so low.

No matter how valuable the asset the company have, how many project the company have, at the end of the day it is the Earning Per Share that determine the share price.

Just ask a question, will you invest in a company that make "0.3%" profit over the past 2 years? Even a sundry shop like 7 Eleven make much higher profit margin.

Just imagine if the cost overrun even by just only 1%, and cost overrun by up to 5% is very normal in construction industry, then BPURI will lose money, & the share price will tumble.

The risk to reward ratio for this stock just do not make sense.

Why take so much risk when you have so many much better alternative? There are so many construction company with much better potential to choose from.

Posted by Gen2 > 2016-10-08 20:50 | Report Abuse

Well said Adam Khoo, I bought from 60+ cents and average down to 30+ cents. Attended twice the agm at selayang, went many times to main place, still I could not be sure to cut loss or hold on for it. As I tell Calvin, welcome on board...but...to wonderland or holland ?

Posted by telusdansuci > 2016-10-08 20:52 | Report Abuse

Don't play play with Adam Khoo . Do you know who is Adam Khoo . I learn so many investment books from Adam Khoo .(1). Secret Of Self Make Millionaire,(2). Secret of Millionaire Investors , (3). Profit From The Panic and etc.......

Posted by ezobear > 2016-10-08 21:26 | Report Abuse

Bro Calvin, proud of you. Your write up triggered so many responses.
Next time come Penang I Belanja you ..
Matthew Tee sure laugh like hell after seeing these posts, his company gain so many free publicity thanks to Calvin

Posted by calvintaneng > 2016-10-08 22:05 | Report Abuse

Posted by ezobear > Oct 8, 2016 09:26 PM | Report Abuse

Bro Calvin, proud of you. Your write up triggered so many responses.
Next time come Penang I Belanja you ..
Matthew Tee sure laugh like hell after seeing these posts, his company gain so many free publicity thanks to Calvin

Thank you Ezobear,

Thinking of Penang food? Wow! So nostalgic.

I missed the Penang Hor Fun of Rifle Range Flats, the apom near MaCalister Road. Also the Penang Chen doi in Penang Road, the Assam laksa in Ayer Itam, the fish porridge near Penang Hill where I used go for dinner. Not forgeting the very excellent Nasi Kandar in Tanjung Bungah. I also miss the nice durian from Ayer Itam Dam. And Koay teow teng found almost everywhere in Penang. Ha! I also remember the Indian Pasumbuk along Gurney Drive. Gurney Drive? I used to go fishing there as well as Batu Feringgi. SOOOO NOSTALGIC MEMORY INDEED.

MANY THANKS!

Posted by ttb88 > 2016-10-08 22:15 | Report Abuse

Matthew Tee is my friend, he is interested to have a cuppa with calvintaneng.

Posted by calvintaneng > 2016-10-08 22:47 | Report Abuse

Posted by Adam Khoo > Oct 8, 2016 08:36 PM | Report Abuse

I am here just to point out the reasons why BPURI EPS is so low.

No matter how valuable the asset the company have, how many project the company have, at the end of the day it is the Earning Per Share that determine the share price.

Just ask a question, will you invest in a company that make "0.3%" profit over the past 2 years? Even a sundry shop like 7 Eleven make much higher profit margin.

Just imagine if the cost overrun even by just only 1%, and cost overrun by up to 5% is very normal in construction industry, then BPURI will lose money, & the share price will tumble.

The risk to reward ratio for this stock just do not make sense.

Why take so much risk when you have so many much better alternative? There are so many construction company with much better potential to choose from.

Calvin replies:

Your statement, "at the end of the day it is the Earning Per Share that determine the share price" is only half the truth.

EPS IS NOT THE ONLY CRITERIA TO DETERMINE SHARE PRICE.

What then determines The Price of a Share?

ANSWER:

INTRINSIC VALUE!
YES! I REPEAT - INTRINSIC VALUE!

Look at my call to buy Kulim at Rm2.50

Where got EPS?
In fact the last 2 quarterly results of Kulim

On Feb 2016 shows -2.80 (sen)
On May 2016 shows -2.86 (sen)

YET JOHOR CORP OFFERS TO TAKE KULIM PRIVATE AT RM4.10 (A PREMIUM OF RM1.60)

Here is a clear cut example that the PRICE OF A SHARE IS NOT DETERMINED BY EPS (2 QUARTERS NEGATIVE EPS)

JCORP BELIEVES THAT THE INTRINSIC VALUE OF KULIM IS MUCH MORE THAN THE TRADED PRICE OF RM2.50 & SO THEY TOOK IT PRIVATE AT RM4.10

I hope you are not just another arm chair analyst

Posted by why_no_dividend > 2016-10-09 04:35 | Report Abuse

Who want to takeover BPuri like Johor Corp takeover Kulim? There are many undervalued stocks with better earnings in Bursa than B Puri. Is Matthew Tee that rich like Johor Corp?

RM 205 million shopping mall. Perhaps abandoned mall like Midland One-Stop in Penang no wonder profit so low and high debt.

Posted by calvintaneng > 2016-10-09 11:07 | Report Abuse

Who wants to takeover BPuri?

That is precisely what Calvin is watching.

Interested parties have already taken 21 million shares of Bpuri through Private placement at 50 cts a piece.

Directors also taken 3.2 million Bpuri shares through ESOS at 50 to 54 cts.

Now another 24 million Bpuri shares will be taken up again at no less than 50 cts a piece

Warren Buffet said when we buy shares we are actually buying a Business or Company.
We can buy the Whole Business (takeover)

Or we can also buy pieces of the Business or Company.

Now Calvin sees people not just buying BUT THEY ARE GREEDILY GOBBLING UP 48.2 MILLION BPURI SHARES!

This is also a covert kind of takeover. And just like JCorp paying a premium of Rm1.60 to takeover the entire Business of Kulim

The Insiders of BCorp are taking BIG PORTION OF BPURI SHARES AT 20% PREMIUM.

Can you SEE what I SEE?

Posted by Icon8888 > 2016-10-09 11:14 | Report Abuse

nobody will take over a company with 581 mil borrowings and net assets of 230 mil

trust me

Posted by Icon8888 > 2016-10-09 11:17 | Report Abuse

you only take over company with huge surplus cash. You use the cash to pare down the new loans you use to finance the take over

nobody will take over a debt laden company which barely survives

Posted by ahjib88 > 2016-10-09 11:17 | Report Abuse

Icon8888, lets fry Tecguan again.

Posted by calvintaneng > 2016-10-09 11:25 | Report Abuse

Evidence speaks loud and clear.

3 Directors bought 3.2 million Bpuri shares from 50 cts to 54 cts.

They should be selling down rather than taking up ESOS SHARES.

More Evidence that speaks louder.

Interested parties are willing to pay 25% premium for pp shares. 21 million shares were taken up.

Coming Evidence you must watch.

Another 24 million BPuri shares will be placed out not less than 50 cts.
That's 18% premium to current price from open market.

All these evidences show people act with their money.

Posted by SALAM > 2016-10-09 16:35 | Report Abuse

Icon, the what the great Calvin was trying to put forward is the fact of unknown political catalyst which could eventually push up BP like what happened to GK and GDG years ago in turning them from ashes to riches after clinching great govn contracts. Beyond this, the rest are ashes and shits...Right ??

Posted by calvintaneng > 2016-10-09 17:47 | Report Abuse

A Big Salute to SALAM!

Clap! Clap! Clap!

You have summarised succintly the core of the focus.

Govt will turn Bpuri from ashes to riches just like they did with George Kent and Gadang.

I am happy that the focus has come into clarity.

Flying birds have learnt to SEE FURTHER LIKE EAGLES.

Posted by k55s > 2016-10-09 18:09 | Report Abuse

Be careful of Calvin promotion here. Just find out Zelan is another Calvin Holland counter even though he just bought 1 mth ago.

Meena counter claim Zelan AED591 million.
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5226189

Posted by calvintaneng > Sep 7, 2016 12:03 PM | Report Abuse
Very undervalue now. Just accumulate.
http://klse.i3investor.com/servlets/forum/800000459.jsp

Posted by calvintaneng > 2016-10-09 18:17 |

Post removed.Why?

Posted by Adam Khoo > 2016-10-10 07:35 | Report Abuse

Company with exceptional thin margin is extremely vulnerable to the fluctuation of cost.

BPURI has only 0.3% margin, for every RM1 sales, they only make RM0.003.

It is like if the cost just going up by RM0.01, they will run into loss.

The price of steel & petrol are rising, let look at BPURI next quarter result.

Posted by calvintaneng > 2016-10-10 07:57 | Report Abuse

Posted by Adam Khoo > Oct 10, 2016 07:35 AM | Report Abuse

Company with exceptional thin margin is extremely vulnerable to the fluctuation of cost.

BPURI has only 0.3% margin, for every RM1 sales, they only make RM0.003.

It is like if the cost just going up by RM0.01, they will run into loss.

The price of steel & petrol are rising, let look at BPURI next quarter result.

Calvin answers,

Don't just focus on the cash position alone or you will miss the whole picture. There is a hidden increase of Rm205 millions (in asset value) in USJ Main Place Mall which was not in Year 2014 AR but surfaced only in Year 2015 AR.

For the same reason of low profit margin or even losses many have missed out Pm Corp at only 9 cts.

This is the problem of only knowing skin deep surface accounting.

And Company has repeatedly mentioned that the Works Awarded in year 2015 will contribute positively for year ending 31st December 2016.

Or else why should all 3 Directors take up all ESOS offered at 50 to 54 cts?

So by conventional accounting without thinking out of the box many have missed Pm Corp's potential.

And those who missed Pm Corp at 9 cts will also miss Bpuri at this bargain basement price of 42 cts.

Posted by calvintaneng > 2016-10-10 08:16 | Report Abuse

In case you guys still cannot SEE what I SEE,

Let me explain by way of illustration

Suppose a Company earns Rm300 Millions net profit for this year.

So by right the accounts should show an increase of Rm220 millions Cash position.

What if Management decides to invest Rm205 millions in Pure Gold Bars.

So?

So the Cash position of the Company's profit is only (220 mil - 205 mil = 15 mil) Rm15 millions.

It is correct to say that Company's Cash Position has increased by only Rm15 millions for the Year. But is that all? No! Definitely not!

The Overall Picture shows that Company has made Rm220 Millions

Cash = Rm15 millions
Gold Bars = Rm205 millions

Total = Rm220 millions

So to Adam Khoo his position is only Rm15 millions profit as shown by Cash & Cash only.

That's why so many are clever in accounting but totally failed in real life investing.

I think business must be really bad in Singapore that you have to Malaysia to "cari makan"

Anyway, welcome to i3 Forum

Here, you will learn to SEE real investment in action

Have a nice day!

Posted by Adam Khoo > 2016-10-10 16:19 | Report Abuse

When it come to shopping mall, size is everything!

The Main Place is a very small neighborhood mall at only 237,000 s.f.

At this size, how could it compete with Sunway Pyramid, Empire, Subang Parade or First Subang Mall or even The Summit?

Up to today, the mall can't even secure a prominent anchor tenant & cinema.

The mall also need to compete with other small mall like The 19 USJ City Mall, Subang Avenue, Da Men & etc.

To make the matter worst, the over supply situation for retail space in Subang/USJ area is very severe & already pulling down the rental rate.

The survival of this mall is really in question. You do not need to be an expert to know the mall is still running at a loss & negative cash flow.

Obviously, the mall is currently a burden not a contributor to BPURI.

Beside that, how much net rental the mall can generate per year base on net rental space of less than 200,000 s.f.?

Posted by AyamDua > 2016-10-10 20:17 | Report Abuse

Sell the mall to Ayam Tua or to Singaporean is better?

Posted by sell > 2016-10-10 20:43 | Report Abuse

Someone promote day and night finally down 0.5 sen today.

Posted by chowsingchi > 2016-10-10 21:18 | Report Abuse

adam khoo is right on the info.

icon is right on the statement .."nobody will take over a company with 581 mil borrowings and net assets of 230 mil"

its true EPS is only a part of the story.
but its also true cash flow negative is bad for the company.
low profit margin, high debt load huge interest expense...looks like got many many red flags

i noticed one thing calvin will never say...he keeps saying insiders buy at a premium for bpuri shares, ESOS n PP...my question is...why do they do that?

1) nobody want to finance them thru bank debt..how to pay with negative cash flow?
2) nobody wants to lend to them thats why they have to do PP
3) most important they DUN have cash dy....

get it?

furthermore..with the PP, it is still a form of debt...with interest to be paid...keep kicking the can debt down the road?

this company is just too risky with PE 40 somemore.

perhaps with PE 10 n below can buy la...cheap hehe( 10c coming?)

Posted by chowsingchi > 2016-10-10 21:24 | Report Abuse

banking on political connections is a bet on uncertainty. this is dangerous.

perhaps when bina puri is 10c then maybe can consider...hehe

Posted by calvintaneng > 2016-10-10 22:34 | Report Abuse

chowsingchi,

PP is not a form of debt. no interest is payable.It will be treated like any other ordinary share.

If you are not sure don't simply post nonsense, ok?

Posted by calvintaneng > 2016-10-10 22:34 | Report Abuse

calvintaneng choop818

I think Calvin can enlighten us as he has lately been strongly promoting this counter.
10/10/2016 21:52

All the monies gone?

Go and SEE Bina Puri Annual Report year 2014

Nothing much. Except Rm30 millions in Real Estate

Then in Year 2015 Annual Report of BPuri

ZOOM! Main Place Mall appeared. AND?

AND WHOOPIE: RM205,000,000 (RM205 MILLIONS) ASSET VALUE APPEARED THERE!!

Many Other ASSETS WILL APPREAR

See this OPUS Worth Rm338,000,000 (RM338 MILLIONS) Appearing Some Day

See

http://www.opus.com.my/

And Many More ASSETS OF HIGH HIGH VALUE WILL APPEAR ONE BY ONE TO THE GASP AND SURPRISE OF ALL!!
10/10/2016 22:05

Posted by calvintaneng > 2016-10-10 23:03 |

Post removed.Why?

Posted by davidkkw79 > 2016-10-14 22:29 | Report Abuse

Holland call again by this old folk.