Land not sold yet, money not in yet, only S&P signed, how can they jump the gun to annouce distribution arr..........Nanti tak jadi jual, malu la......
If special dividend payments was 30 sen per share, we all HUAT...if 40 sen per share we all HUAT HUAT... if 50 sen per share we all ...HENG ONG HUAT ah!
sure this land deal can be done? after so long already not even any consent approval is obtained. really doubt this can go through. these palm trees are old enough to bear any more fruits
The Big Boss of this company is very generous. He willl propose high dividend provision. The value of the company is also very high. The present value of 50,000 acres of lands in Indonesia between RM5k -RM7k which equals RM250m-RM350m (RM168-RM235 per share). In addition the company has net cash of RM1/share.
the trees are old enough. not bearing much fruits. need high cost to clear and replant by united. why they buy this land for development? UP is plantation business. why they buy this land? it could be helping pinepac back door refinancing its indonesia plantation
cannot be UP backdoor helping pinepac, looks at the circular announced last EGM, the value of the land sold is market value, and close to historical transacted value. mean this is fair price for these land and trees (eventhough old).
and on the dividend, already mentioned in the circular that no dividend will be paid out of the proceed, unless Pinehill have their own fund to pay for dividend. or else, dun see why there is any special dividend. (the proceed is RM400mil, 150mil go to banker, 150mil go to supplier)
thats almost RM46k per acre price. very expensive for a land with old trees. maybe UP wants the land as their utimate purpose for development or replanting. no dividend as mentioned in the circular. so why are people buying this counter for? this SPA will be extended as already expired 8 months duration
If you read United Plantation quarterly report which was out last night, they did mention that the purchase of land is going ahead, pending for government approval. I cannot see why the government will disapprove this purchase.
if consent is obtained and approved what do we have in return for this stock from the proceed of this land sale. No dividend will be given as mentioned in circular. i have few hundred lots this stock. Trading with NTA value ?
ya basically we cannot do anything if ther is no dividend, like Malaysian Bulk Carriers Berhad, the disposed off major investment recently got huge proceed, but no distribution to share holder too.
so the same will be for Pinepac, unless the management change their mind. but not so easy, bcz the proceed must be utilised as per the circular.
we can just hope for with the proceed, the Company can turn around to make profit with its Indonesia estate. and hence bring up the share price.
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Posted by 1248233605225356 > 2019-01-22 11:25 | Report Abuse
Thank you