Posted by GoldmanSach > 2018-04-18 11:50 | Report Abuse

MUI disposes of two hotels under Corus brand in UK
Read more at https://www.thestar.com.my/business/business-news/2018/04/18/mui-disposes-of-two-hotels/#CY02ChAYIEcSVzDU.99

Posted by GoldmanSach > 2018-04-18 11:50 | Report Abuse

MUI disposes of two hotels under Corus brand in UK
Read more at https://www.thestar.com.my/business/business-news/2018/04/18/mui-disposes-of-two-hotels/#CY02ChAYIEcSVzDU.99

Posted by apolloang > 2018-04-18 11:51 | Report Abuse

hosei to pastor calvin and me lo....hahaha

Posted by bonds56 > 2018-04-18 12:11 | Report Abuse

Hidup MUI

Posted by abcde12345 > 2018-04-18 12:14 | Report Abuse

haha

Posted by GoldmanSach > 2018-04-18 12:19 | Report Abuse

MUI going to sell more assets. Good to our shareholder.

Posted by GoldmanSach > 2018-04-18 12:23 | Report Abuse

Last time MUI share price shoot to 28sen due to rumour it going to dispose London hotel. Now MUI start process of disposal, price likely to test 28sen soon.

Posted by Ashleyong > 2018-04-18 12:38 | Report Abuse

Most of Mui assets are bought more than 15 yrs ago . If revalue going to have a big impact on the share price

Posted by TianTTHuat > 2018-04-18 12:54 | Report Abuse

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Posted by GoldmanSach > 2018-04-18 15:05 | Report Abuse

MUI 20sen ! Buy PMHLDG !

Posted by GoldmanSach > 2018-04-18 15:06 | Report Abuse

MUI coming, PMHLDG, PMCORP and MUIProp will goreng up also.

Posted by calvintaneng > 2018-04-18 15:10 | Report Abuse

MUI?

Mother of all
Undervalue
Investments.

MAXIMUM
UPSIDE
INDICATORS

2 CORUS HOTELS IN UK DISPOSAL!!!

Posted by k3nthiew > 2018-04-18 15:14 | Report Abuse

How to read d full article??

Posted by bonds56 > 2018-04-18 15:20 | Report Abuse

Closing at least 20c dont miss the boat

Posted by bonds56 > 2018-04-18 15:21 | Report Abuse

Already 20 events.up up up

Posted by TianTTHuat > 2018-04-18 15:24 | Report Abuse

MUI, PMH

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Posted by TianTTHuat > 2018-04-18 15:28 | Report Abuse

MUI, PMH,

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To read the full article in The Star, you MUST pay money lah...

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Posted by mahorse > 2018-04-18 15:42 | Report Abuse

Sale Price not mentioned :

The spokesperson said the sale was not reported to Bursa as the combined sale value was below the trigger point for announcement.

PETALING JAYA: Loss-making but asset-rich Malayan United Industries Bhd
image: https://cdn.thestar.com.my/Themes/img/chart.png

(MUI) has sold two of its hotels under the Corus brand in the UK, proceeds of which went for loan repayment and working capital.

In response to StarBiz queries a spokesperson from MUI confirmed that it has sold The Old Golf House Hotel in Outlane, West Yorkshire and The Imperial Crown hotel in Halifax.

“We confirm that Corus Hotels Ltd, a subsidiary of MUI, has sold the 52-room Old Golf House Hotel in Huddersfield, and the 40-room Imperial Crown Hotel in Halifax. “The sale was completed in the first quarter of this year.”

The sale of the hotels for an undisclosed sum went largely unnoticed locally and was first reported by UK press late last year

The spokesperson said the sale was not reported to Bursa as the combined sale value was below the trigger point for announcement.

Whether the sale could lead to more divestments, the spokesperson said that among its hotel properties in the UK, those two were identified as non-core.

“Proceeds from the sale were used for loan repayment and working capital by the hotel group.

“However, hotels will remain as a core business activity for the group,” he added.

MUI had bought the two properties 17 years ago and in its 2017 annual report they carried a net book value (NBV) of RM14.42mil.

Going by this, it would have made a made a tidy return from the disposals, reckon industry observers.

Despite owning a plethora of good assets, MUI has been loss-making.

In the recent second quarter ended Dec 31, 2017, it made a net loss of RM8.70mil versus RM22.02mil recorded in the same period a year ago.

Total borrowings as at that period stood at RM883.46mil, while cash was at RM188.07mil.

For FY ended June 30, 2017, it recorded losses amounting to RM131.7mil on the back of RM415.1mil revenue.

The flagship of one-time corporate high-flyer Tan Sri Khoo Kay Peng, MUI has investments in various businesses including retail, hotels, food and property.

Among its crown jewels, London-listed Laura Ashley Holdings plc which Khoo controls just under 50% of, is one of MUI’s most prized assets.

Under its hotel division, MUI owns and operates a string of hotels in the UK and two hotels in Malaysia under the Corus brands.

The Old Golf House Hotel in Outlane, was bought in 2001 and had a net book value (NBV) of RM8.27mil in MUI’s 2017 annual report.

The Imperial Crown Hotel at Halifax meanwhile had a net book value of RM6.15mil.

The group’s flagship hotel in the UK is known as the Corus Hotel Hyde.

This hotel sits on 21,640 sq ft of freehold land and carries a current net book value (NBV) of only RM257.5mil.

It is unclear when this piece of land was last revalued.

Locally, MUI’s Corus Hotel in Jalan Ampang is situated opposite the Petronas Twin Towers and carried a NBV of RM54,50mil in its books.

From the beginning of this year, Kay Peng relinquished his role of chief executive officer at MUI to his son Andrew Khoo Boo Yeow as part of a succession plan.

The tycoon remains the group’s executive chairman.

At the time of writing, MUI's share price was down half a sen or 2.78% to 17.5 sen apiece.


Read more at https://www.thestar.com.my/business/business-news/2018/04/18/mui-disposes-of-two-hotels/#fwY7hiEu1JeSLcao.99

Posted by k3nthiew > 2018-04-18 15:45 | Report Abuse

Thanks @ mahorse

Posted by Alipapapa > 2018-04-18 15:46 | Report Abuse

that mean MUI will start selling its hotel asset and give special dividend ?

Posted by paperplane > 2018-04-18 15:49 | Report Abuse

finally show strted, waited this suckers 2 years

Posted by apolloang > 2018-04-18 15:50 | Report Abuse

I just got back and saw my mui done already sold at 20cts.....thanks pastor calvin. money in the pocket already....hehe

Posted by hilmi > 2018-04-18 16:00 | Report Abuse

This is old news. What"s the purpose of rewriting? To goreng?

Posted by paperplane > 2018-04-18 16:01 | Report Abuse

special div might be really SPECIAL? ha

Posted by calvintaneng > 2018-04-18 16:19 | Report Abuse

ha
i just bought more

Posted by apolloang > 2018-04-18 16:31 | Report Abuse

I sold cos my TP 16-20cts....only.it hit my target so I sell....hehe

Posted by LimKL1 > 2018-04-18 16:35 | Report Abuse

okok

Posted by YouBuyIBuy > 2018-04-18 17:05 | Report Abuse

Mr Calvin, muii already up, how about L&G, do you have any new research on L&G ?? thanks

Posted by calvintaneng > 2018-04-18 17:07 | Report Abuse

i driving. Will reply later

Posted by hanafi9670 > 2018-04-18 17:23 | Report Abuse

the two hotel was sale last year and conclude on February 2018. here is the link to news.

https://www.examiner.co.uk/news/one-huddersfields-best-known-hotels-13891445

But the price is not disclose ...

Posted by calvintaneng > 2018-04-19 00:38 | Report Abuse

YouBuyIBuy Mr Calvin, muii already up, how about L&G, do you have any new research on L&G ?? thanks
18/04/2018 17:05

I was very busy in booming Iskandar today until now.

Ok.

For L&G things are in status quo until they launch all the new projects for Lands acquired.

Although L&G is deeply undervalue it needs a catalyst to unlock it.


Dutaland after disposing Plantation Lands to BPlant is giving a 10 sen dividend.

For Mui Bhd the sale of UK Hotels will unlock CASH for distribution.

Over in TAGB/TA Enterprize they also disposed Assets to unlock Cash. So there could be a dividend surprise.

Posted by calvintaneng > 2018-04-19 01:45 |

Post removed.Why?

Posted by apolloang > 2018-04-19 02:19 | Report Abuse

16cts then u let me know,maybe I buyback otherwise no wanna see this counter already....hehe

Posted by bonds56 > 2018-04-19 07:41 | Report Abuse

登录 注册 9点股票
9点股票
大马第一中文新媒体财经网站
9点股票
静悄悄卖了英国两家小酒店
MUI仔最近价量齐升
邱继炳会再卖其它酒店资产吗？
18/04/2018
老牌企业家丹斯里邱继炳控制的马联工业（MUIIND 3891）一年内股会出现一两次＂炒风＂，炒起的主题都是针对该集团拥有庞大房产被低估，它的股价在去年曾一度飊高至RM0.275。

然而炒风结束後，它又慢慢滑落回16仙水平，最近该股又见价量齐升，股价回至19-20仙水平，是否又有新一轮炒风现起呢？市场散户称马联工业为MUI仔，不过邱继炳是难以捉摸的企业家，就好像这次卖两家小酒店，公众根本不知道。

原来，马联工业在去年脱售英国两家酒店资产，无论如何，两家酒店的卖价没有触及需向大马股票交易所报备的＂界限＂，马联工业就静鸡鸡，没有向大马股票交易所报备，投资大众当然也不知。

根据英文星报今日的报导指出，马联工业发言人向该报证实，它已脱售Old Golf House Hotel 和The Imperial Crown hotel in Halifax两家酒店。

Posted by calvintaneng > 2018-04-19 09:18 | Report Abuse

Good morning,

Bonds56 what you posted? Can translate to English. Most Usa Fund Managers won't be able to read Chinese.

And there is a sudden surge in interest on Mui Bhd?

I think it might be due to the sale of 2 hotels in UK. These results will be reported in May 2018 QR.

It will be interesting how much these Assets have appreciated all these years.

Last time Lienhoe disposed a piece of land in Bandar Sri Alam, Johor. It was a big surprise that Lienhoe land prices jumped 10x or up 1,000%. At that news Lienhoe went limit up.

Let's see how Mui Bhd perform when all the good news are out

Posted by paperplane > 2018-04-19 09:20 | Report Abuse

they don't need shareholders approval?

Posted by Alex™ > 2018-04-19 09:21 | Report Abuse

wah....why i no sailang 12sen?

Posted by firehawk > 2018-04-19 09:56 | Report Abuse

"The spokesperson said the sale was not reported to Bursa as the combined sale value was below the trigger point for announcement."

How to calculate the trigger point?

Posted by Sunna Sutta > 2018-04-19 14:09 | Report Abuse

According to @mahorse who copied the StarBiz Premium report, the original book value of the 2 hotels add up to RM14m+. Even assuming the combined sale value has doubled or tripled, it may not even be enough to service 1 year's repayment of MUI's massive debt pile.

Posted by Ashleyong > 2018-04-19 14:44 | Report Abuse

That's why in need of unlocking more assets which will be beneficial to shareholders

Posted by calvintaneng > 2018-04-19 22:41 | Report Abuse

Ashley is correct!

Posted by apolloang > 2018-04-19 22:42 | Report Abuse

KKP when are u going to dump till 16cts for me to buyback again? hehe

Posted by TianTTHuat > 2018-04-20 13:07 | Report Abuse

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TTHuat Buy Buy then Sell Sell is just not easy for the Long Term Investor lah....

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Posted by Ashleyong > 2018-04-20 14:29 | Report Abuse

Be patient coming

Posted by TianTTHuat > 2018-04-23 16:37 | Report Abuse

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Being a Long Term Investor is so Suffering lah....

Time has changed, you need to be a Smart Trader in order to make Real Profit and pocket money daily lah...

Read this article & understand it properly:

https://www.thestar.com.my/business/business-news/2018/04/23/one-group-not-profiting-from-malaysia-stock-rally/

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Posted by sitia > 2018-04-23 19:44 | Report Abuse

TianT,, your news got nothing to do with MUII

Posted by TianTTHuat > 2018-04-24 10:09 | Report Abuse

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Posted by sitia > 2018-04-24 19:42 | Report Abuse

TianTT, your comments are puiiiiii!!!pui!!!!!

Posted by TianTTHuat > 2018-04-25 18:54 | Report Abuse

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Sitia,

My comment is always
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Posted by newbie2014 > 2018-05-02 08:43 | Report Abuse

what do u think the sale of asset? it's reported the sales figure was not big enough to trigger an announcement, it's reported the money from the sale would be used 'internally'. Choose a company with huge assets is very easy, but the vital matter is to choose a good boss, not a skimpy and crafty one still 17sen? hahahui haha hui hui puipuiiiii