Posted by tsurukame > 2013-11-30 19:21 | Report Abuse

Calvin, My main concern is how much of these so called hidden assets are total writeoff...what will be it's impact on MUI NTA value???

Posted by calvintaneng > 2013-11-30 19:36 | Report Abuse

Tsurukame,

I did not include hidden assets as criteria for MUI Berhad's NTA. I4 Hotels & Investment in Quoted Shares like PM Corp (70%) MUI Properties, PM Capital, PM Holdings & others, Businesses of Laura Ashley, Metrojaya, East India, Somerset & Others. Valuable Real Estate All Over UK, USA, Tasmania & Malaysia. They are already VERY SUBSTANTIAL if Revalued.

Anything further is extra bonus.

Posted by tsurukame > 2013-11-30 19:48 | Report Abuse

Calvin, The assets u mentioned r income generation assets but these operational profits r eaten up by interest on the huge debt...Hidden assets are important to increase the net worth of MUI...if these assets r 100% written off it is a big rip off on the minority shareholders such as u who had recently bought into MUIIND

So it is critical that all these do called hidden assets r recovered...do u have info on latest MUI capital assets?

Posted by tsurukame > 2013-11-30 19:55 | Report Abuse

Calvin, These hidden assets r the key determinants of future cash inflow into MUIIND as once the cash is realized the huge debts can be wiped clean n perhaps there r some more can surplus for future business expansion. R U 200% with me in rooting out the hidden assets in the next AGM of MUIIND? I say 200% ok...

Posted by calvintaneng > 2013-11-30 20:10 | Report Abuse

Tsurukame,

I see the whole debt problem can be settled by just the disposal of Corus Hotel in Hyde Park London - worth about RM1 Billion. If debt is wiped off, the substantial profit from all other hotels, 200 over Laura Ashleys, Metrojayas, investment in PM Corp, Mui Properties & Others Will Shine Through Brightly.

The Balance Sheet Will Look Very Positive then. And whatever recoverable hidden assets will further enhance MUI Berhad prospects. Complicated things are quite simple if you can see the overall picture.

Posted by tsurukame > 2013-11-30 20:23 | Report Abuse

Calvin,
Yes ..you have a point but recovery of hidden assets will enhance the net worth of MIIIND if these hidden assets and debts can indeed be recovered 100% or realized at more than 100%..It is in the interest of all shareholders inclusing minority shareholders that these hidden assets and debts are turned into CASH..

Posted by calvintaneng > 2013-11-30 20:30 | Report Abuse

Tsurukame,

Of Course, If All Can Be Recovered & Returned To Former Glory, MUI Berhad Should At Least Touch RM3.20 the very least. Only 10% of its peak price when it hit RM32K.

Posted by tsurukame > 2013-11-30 20:58 | Report Abuse

Calvin,
If indeed it can reach RM 3.20 when all hidden assets plus debts r recovered, you will be laughing all the way to the bank if your investment cost is only 20 to 21 cents!!!...That will be a fantastic return on Investment--> (3.20-0.21) x 100/.21= 1,423.8 %

So better work hard to study the Annual reports, be prepared to ask lots of probing questions to get action taken to recover fully the hidden assets and debts... OK DOKY Calvin??

Posted by Steven Yong > 2013-11-30 21:16 | Report Abuse

tsurukame, I tot earlier you did not agree with Calvin points at all?
now...

Posted by tsurukame > 2013-11-30 22:16 | Report Abuse

Steven Yong,
Nobody knows the valuation of MUIIND hidden assets ..not even Calvin... The persons who know the value of these hidden assets are Tan Sri KKP and certain BOD members who worked with him for a long time....MUIIND is a forgotten stock and Calvin brought up the promise that it could be worth more than 20 cents.. Yes it will be worth more if assets are realized into CASH to wipe our Debt and fund current/new businesses which drives up top line and bottom line growth in MUIIND..

Both Calvin and I agree that Debt must be wiped out so that MUIIND can make operational profits...once the debt has been wiped out the value of MUIIND will improve significantly...If hidden assets can be realized into CASH and CASH be deployed to gain higher returns on current/new businessess then these hidden assets must be uncovered and all shareholders including minority shareholders will definitely support it...

My only concern is some of these hidden assets/investments may be 100% write offs

Posted by sklyte > 2013-11-30 23:23 | Report Abuse

Tsurukame, at one time I thought Kkp would privatize Mui. At 20cts, the market cap only 580 million and the debts by hope foundation already 400million. Thot Kkp heading hope foundation, now as u mention Mui has got judgment to wind up hope foundation so the chances of privatization is slimmer now. What do u think?

Posted by tsurukame > 2013-11-30 23:45 | Report Abuse

sklyte,
How to privatize MUI when the debt is so huge...the operational profits are eaten up by interest payment on the huge debts...Controlling shareholder will only privatize when the future earnings of the business with be exceptionally good but the share price valuation is very low and the company has very little debt..Right now MUI share price is low but the operational profits are eaten up by the interest on the huge debt and future earnings visibility is quite hazy now... unless there is tremendous surge in earnings , revenue of PMC, Metrojaya etc..

Posted by sklyte > 2013-12-01 00:10 | Report Abuse

Tsurukame, I thought hope foundation debts to Mui has to be paid back. And I also thought that Kkp was heading hope foundation. So instead of paying back 400 millions to Mui, he just has to offer to takeover the balance of the share. He owns 66per cent of Mui . 34x2.9 billion sharesx20cts=about 200million . Taking out this amount he could have sorted the debts of hope foundation n own 100per cent of Mui . That was what I anticipated. Now with the edge report, I anticipated /guessed wrongly.

Posted by calvintaneng > 2013-12-03 08:35 | Report Abuse

A Very Good Morning to All Friends & Investors at MUI Berhad Forum,

We are now in the final month before VISIT MALAYSIA YEAR 2014.
The Very Benign Wind of The Coming Year Will Be Very Positive For MUI Berhad.
The Gentle Wind of Fortune Will Blow In Our Way Soon:

We Are Unfurling All Sails To Ride The Wind of Fortune

CORUS HOTELS HAVE BEEN NEWLY REFURBISHED TO WELCOME ALL TOURISTS

TRAVEL AND TOURS TO BRING THEM AROUND

METROJAYA, LAURA ASHLEY, EAST INDIA & SOMERSET TO SHOP TILL ALL DROP!

FINEST TUDOR GOLD & TANGO CHOCOLATES TO BUY & BRING HOME

A 28 MILLION STRONG EXPECTED TO VISIT MALAYSIA WITH A POPULATION OF 28 MILLION CITIZENS. ONE TOURIST FOR EACH MALAYSIAN.

MALAYSIA BOLEH! MUI BHD BOLEH!

Posted by calvintaneng > 2013-12-03 12:19 | Report Abuse

Amazing! Price still done at 20 cents today for MUI Berhad. Shares passing from weak ignorant holders to Strong hands.

Just like buying Lafarge Cement when it was 66 cents, Tasek Cement at RM2.90, Bj Corp at 12.5 cents, Kumpulan Perangsang Selangor (KPS) at 42 cents. Kfima at 35 cents, Century Bond at 45 Cents, Ajinomoto at RM2.20, Keck Seng at RM2.60, Tenaga National at RM2.80, Perak Corp at 60 Cents, PM Corp at 7.5 Cents, Focal Aim at 25 cents.

I Really Salute All Who Got MUI Berhad at 20 Cents!

Every One Knows The Price of MUI Berhad. Only A Very Tiny Few Understand The TRUE VALUE OF MUI BERHAD!

Posted by Steven Yong > 2013-12-03 21:40 | Report Abuse

yeah~~~

Posted by Steven Yong > 2013-12-03 21:51 | Report Abuse

Calvin, can please help explain this? Don't really understand
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1471917

Posted by calvintaneng > 2013-12-03 22:14 | Report Abuse

Steven Yong,

This is the outstanding receivables that Hope Foundation owed MUI Berhad. The Sum loaned out was RM245,6 Millions & the accrued interest is RM182,10 Millions.

MUI Berhad may or may not recover in part or in full of the total sum of over RM400 Millions. It will be an added bonus should MUI Berhad receives this outstanding sum owed.

In Any Case, MUI Berhad is Asset Rich. Own over 200 Laura Ashleys in Europe & 12 CORUS Hotels In UK & Malaysia. Highly Profitable Metrojayas in East & West Malaysia. And Many Other Investments - too many to name..

Posted by Steven Yong > 2013-12-04 00:13 | Report Abuse

walao eh~ Accrued int also 180 millions.....more than 10 years, shld write down as bad debts mah

Posted by Steven Yong > 2013-12-04 00:15 | Report Abuse

Hope Foundation not owned by KKP also meh? Then what's the point? KKP ambil company duit like that ,then 10 years liao also dun want give back?

Posted by calvintaneng > 2013-12-04 00:47 | Report Abuse

Actually. We Value Only Present Businesses And Assets. Long Ago MUI Berhad was RM32.00. Precisely, due to past problems, MUI Berhad has crashed to 20.5 Cents now.

MUI BERHAD HAS CRASHED 99.9% - THE WORST CRASH OF ALL TIMES!

MUI Was Grossly Overvalued at Rm32.00 then. And The Market Was Chasing Madly.

And MUI Berhad Is Grossly Undervalued Now! And Market Is Totally Forsaking!

THAT IS THE REASON WHY MUI BERHAD IS SUCH A TREMENDOUS BARGAIN!!

Posted by Steven Yong > 2013-12-04 01:15 | Report Abuse

I agree it is bargain, but can tht bargain be realised someday? Who knows Hope Foundation someday came back and tell you, hei lend me another 100million again......

I think in this case, PMCorp a safer bet...at least it is netcash, and running pretty well in operation.

Posted by calvintaneng > 2013-12-04 08:44 | Report Abuse

A Very Good Morning To All At MUI Berhad Forum,

Steven Yong,

Yes. You have a point there. But since MUI Berhad is a listed entity Directors are answerable to All Share Holders UNLESS Tan Sri Datuk Khoo takes MUI Berhad private. Then he can do what he wants freely.

As long as MUI Berhad is listed there is Hope For A Turnaround Story. I think the beginning of a New Chapter Is Imminent. And I want to be part of This New Story Going Forward.

Posted by sklyte > 2013-12-04 09:23 | Report Abuse

Hi Calvin, an announcement by Pmcap regarding their PN17 status that they may sell their stockbroking co, PM Securities. What do u think of this ?

Posted by calvintaneng > 2013-12-04 09:31 | Report Abuse

Sklyte,

I think it is a good move. With the advent of high speed fiber optic broadband coupled with a new generation of educated investors & traders, the days of stock brokers may be numbered.

Gone were the days of 1.123% gross revenue per trade.

Among the least profitable of 7 Businesses of MUI Berhad Stock Broking Is The Only Loss Making Division. It Is Wise To Eliminate Losses & Concentrate On Our Strength -

No. 1 Is Retailing by Metrojaya & Laura Ashley

No. 2 Is Hotels - 10 In UK & 2 In Malaysia

No. 3 Food Manufacturing - A Rising Star.

Posted by sklyte > 2013-12-04 09:36 | Report Abuse

Calvin, don't u think that they r selling non performing assets n moving toward making the whole group leaner? What is the worth of this stockbroking arm?

Posted by calvintaneng > 2013-12-04 09:43 | Report Abuse

Sklyte. I heard it's worth RM100 Millions. This is what I heard. I may be wrong.

We also have 4 properties under PM Capital. One of them is Very Interesting.

A Huge 11,000 sq ft Penthouse on KL Plaza Top Floor. Freehold. In The Heart of CBD In Jalan Bukit Bintang. Book Value Is At Rock Bottom Price of Only RM970,000. Equivalent to a very old single storey house in Bangsar going for RM1 Million currently.

What is the Actual Current Value of a Prime 11,000 Sq Ft Penthouse in Bukit Bintang, KL?
I can't verify as I am in Singapore.

Posted by sklyte > 2013-12-04 09:57 | Report Abuse

Calvin, is Pmcap high in debts? The market cap is 62mil. What other asset Pmcap has beside this penthouse?

Posted by calvintaneng > 2013-12-04 10:16 | Report Abuse

Sklyte. It Is The Other Way Round. Many Contra Players Owe Huge Amount to PM Capital. Hope we can recover all the monies. The other 3 Properties Are Industrial Lands in Klang. Will Benefit from Greater KL MRT Network.

Posted by sklyte > 2013-12-04 10:37 | Report Abuse

Calvin thanks. Debts by contra players recoverable?

Posted by calvintaneng > 2013-12-04 10:40 | Report Abuse

Sklyte. Hopefully.

Posted by bekful > 2013-12-04 14:16 | Report Abuse

khoo kay peng's cfo resigns from 3 listed-firms.
http://www.theedgemalaysia.com/business-news/266106-khoo-kay-pengs-cfo-resigns-from-3-listed-firms.html#.Up7DRmTHdg0.facebook

Posted by member41 > 2013-12-04 14:22 | Report Abuse

auditor still same right...

Posted by newbie2013 > 2013-12-04 18:10 | Report Abuse

Hi Calvin, pmcap net profit is -113.399m @fye 31/12/12... Anymore debts ??? Hv been holding this CRT for years. Now only .075... Total loss CRT. Any hope of it coming out again ..(fat chance !!!!) ??

Posted by calvintaneng > 2013-12-10 15:18 | Report Abuse

YEAR 2014 BEST PICK IS MALAYAN UNITED INDUSTRIES!

Buy Now When The Buying Is Still SO CHEAP!!!

Posted by albertng > 2013-12-11 07:03 | Report Abuse

Yes Calvin I agree with you ,yesterday buy in 60 lot at 21

Posted by calvintaneng > 2013-12-12 07:57 | Report Abuse

MUI Berhad The MOST UNDERVALUED SHARE IN THE WORLD.

Price As At 12/12/2013 Is 21 Cents.

10 YEAR TARGET PRICE IS RM18.00

MUI BERHAD WILL BE THE BEST PERFORMING STOCK IN THE WORLD FOR THE NEXT DECADE. MUI BERHAD WAS A BUBBLE AT RM32.00 & EVERYBODY WAS CHASING.

MUI BERHAD IS NOW 21 CENTS THE BARGAIN OF THE CENTURY - HAH! NOBODY BOTHER!

By CalvinTan Research

Posted by calvintaneng > 2013-12-12 08:05 | Report Abuse

THE TOTALLY HIDDEN ASSETS OF MUI BERHAD - EVEN DIRECTORS & CORE STAFF DON'T KNOW. MAYBE KKP HIMSELF ALSO DON'T KNOW.

NO ONE KNOW THE EXACT VALUE OF PRIME CBD 6 ACRES LAND IN HOBART, TASMANIA - BOUGHT DURING THE PROPERTY CRASH OF AUSTRALIA.

RM5 Million Book Value. Current Value? Since Nobody Know. My Guess is RM150 Million or Even More Today!

Imagination is more important than knowledge
...............................................................................Albert Einstein

Posted by calvintaneng > 2013-12-12 08:06 | Report Abuse

467 HIGHLY PROFITABLE LAURA ASHLEYS WORLDWIDE.

HOW CAN MUI BERHAD LOSE TO PARKSON?

Posted by calvintaneng > 2013-12-12 08:11 | Report Abuse

ONE HUNDRED TWENTY FIVE ROOM REFURBISHED HOTEL IN UK CALLED ST JAMES CORUS HOTEL ON ALMOST AN ACRE LAND VALUED AT RM1.6 MILLION?

FACTS ARE STRANGER THAN FICTION?

IN THIS CASE "FIGURES ARE STRANGER THAN FICTION"

WHAT FIGURES? A TINY UNIT BY SP SETIA BATTERSEA IS WORTH MORE THAN THIS MUI BERHAD'S 125 ROOMS HOTEL?

Posted by calvintaneng > 2013-12-12 08:22 | Report Abuse

HISTORY IS THE BEST LESSON.

MALTON WAS AT 30 CENTS WHEN NO ONE WANT. NOW MALTON IS OVER 90 CENTS (Up 3 Fold) RHB Research Is Recommending. Why No Mention When Malton Was 30 Cents.

Unpopular ma, how to stick the neck out and recommend lah?

Why Calvin Tan Bought MALTON At 30 Cents? BECAUSE CALVIN TAN SAW (OR RATHER SEE AHEAD BEFORE OTHERS) MALTON WILL BUILD PAVILION IN BUKIT BINTANG SOME DAY!

Calvin The Lone Ranger WAS RIGHT. The MAJORITY WAS WRONG! Calvin Tan BOUGHT MALTON At 30 Cents, Sold Malton at 80 Cents. Now, only now people are paying attention to Malton.

So be PROACTIVE, don't be REACTIVE.

The MOST SUCCESSFUL METROJAYA IS IN MID VALLEY MEGA MALL? SURE? YES! BUT NOT UNTIL SOUTH KEY MEGAMALL ISKANDAR IS READY BY YEAR 2016.

WILL METROJAYA BE THE ANCHOR TENANT HERE, TOO.

IF SO, EXPECT 5 MILLION SINGAPOREAN SHOPAHOLICS TO THRONG METROJAYA IN SOUTH KEY MEGAMALL!

MALAYSIA BOLEH! ISKANDAR BOLEH! MUI BERHAD BOLEH!

HOW CAN MUI BERHAD NOT OVERTAKE PARKSON?

Posted by Mitras > 2013-12-12 08:26 | Report Abuse

Hahahah huhuhuhu

Apa kah tujuan mengemukakan informasi ni, Calvin Tan?
Apa kah tindakan KONKRIT yang akan di ambil terhadap Hotel CORUS UK ni oleh pemik hotel ni?
Ada kah tindakan terkandung dalam resolusi BOD?
Sila nyatakan dengan FAKTA KONKRIT apa tindakan yang nak di ambil oleh pemilek hotel ni?
Berapa saham MUI u dah beli?

Hahahaha huhuhuhu hahahaha huhuhuhu

Posted by calvintaneng > 2013-12-12 08:42 | Report Abuse

Tan Sri Datuk Dr. Khoo bought many VALUABLE ASSETS and forgotten to revalue them. Is it because he feared to offend God? King David valued his army and God punished him severely. So KKP is one very God fearing Christian.

Once there lived a poor artist called Vincent Van Gogh. Among his paintings were Irises, Sun Flowers & Wheat Fields. But nobody was interested. No one bothered to take a second look.One day Vincent Van Gogh was so hungry that he begged a baker to accept one of his painting in exchange for a loaf of bread.

The baker just wrapped up the painting and kept it in his attic. One hundred years later his grandson discovered the treasure. It was sold for Many Millions!

The most expensive painting sold in recorded history is Mona Lisa by Leonardo Da Vinci at RM330 Millions.
Vincent Van Gogh Sun Flowers came in 2nd at RM250 Millions.

Imagine It Was Once Worth Only A Loaf Of Bread.

The Whole World Will Wake Up To Appreciate VALUE LOCKED UP IN MUI BERHAD!

Warren Buffet tap dance to work in Omaha. I think if he knows about the DEEP VALUE of MUI Berhad he will tap dance in a plane to Malaysia and buy up MUI Berhad!

Happy Investing!

Not for gamblers and punters. Very few will invest like Warren. He invests for "FOREVER"


CalvinTan Research

Posted by calvintaneng > 2013-12-12 08:48 | Report Abuse

Mitras,

Go and buy some TUDOR GOLD DARK CHOCOLATE In Giant, AEON, Tesco or Cold Storage.
It will cure you of all mental disorder.

You are unsound so you are forgiven.

But if you are sound and persist in spreading non sense, then Allah must step in and stop your folly.
Alhamdulilah! Hallelujah!

Glory Be To The Father,

And The Son And The Holy Spirit

As It Was In The Beginning,

Is Now And Ever Shall Be,

World Without End!

Amen! Amen!

Posted by undervalue > 2013-12-12 12:19 | Report Abuse

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

Posted by Mitras > 2013-12-12 12:29 | Report Abuse

Hahahaha huhuhuhu

Calvin,
i ia lah cahaya
cahaya yang bersinar atas forum ni
kalau u cakap benar, syabas kepada u
Syabas kepada pemilek saham
Kalau u cakap yg lain, cahaya akan bersinar
berturut turut tanpa padam

HAHAHAHA HUHUHUHU HAHAHAHA HUHUHUHU

Posted by calvintaneng > 2013-12-12 15:37 | Report Abuse

Dear Undervalue,

Address is 20, Kirby Court,
West Hobart, Tasmania
The land has an existing hotel.
Date of Purchase October 1996.
24,970 sq ft (About same as the Shah Alam Land you valued. 35 years old.)
Book value was RM5.6 Millions.
In Year 1996 Aussie 1 Dollar equals Rm2.00 Currently Aussie 1 Dollar about Rm3.00

Both CFO Mr. Ho & Other Admin Staff do not have any idea about its current status.

Posted by Mitras > 2013-12-12 15:40 | Report Abuse

hahahaha huhuhuhu

Oh calvin...
Tolong jelaskan apa kah rancangan yang telah di tetapkan sekarang
Nak jual atau buat pembangunan

HAHAHAHA HUHUHUHU HAHAHAHA HUHUHUHU

Posted by member41 > 2013-12-12 15:40 | Report Abuse

well the address exists in google map. :)

Posted by undervalue > 2013-12-13 01:40 | Report Abuse

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.