No lah, it was due to the proposed disposal of all its plantation assets to IOI or Sime Darby, can't recall which. The deal failed due diligence audit. Apparently the planted area was grossly overstated.
Dutaland's most valuable assets is Kenny Heights. So basically Dutaland is a property developer. It wants to get rid of its treeless plantation land but no takers.
TheContrarian, I found that you are much much more smarter than the headless chicken Calvin.. I agreed with your comments, the all plantation land that Dutaland hold is treeless, that why its revenue contributed from Plantation segment are so low.
Last year Dutaland got some announcement on the Kenny Height land right (together with Olympia), do you mind to further elaborate the transaction to us, such as what is their plan on the land, so far any development project carried on there, what is the profit sharing between olympia and dutaland?
Beside that, do you have any update on the Grand Duta Hyatt Hotel? Last year I passed by I saw got worker putting on the safety net on the construction area, but not sure what is the current progress. If you know, please share more to us.
For the quarter under review (1Q FY2017), the Group recorded revenue of RM13.4 million, RM3.4 million higher as compared to the preceding year quarter of RM10.0 million.
The favorable variance of RM3.4 million was due to higher contribution from the plantation division. There is no contribution from property division for both 1QFY2017 and 1QFY2016 due to lack of development activities.
The improvement in the plantation division’s result was mainly due to higher average FFB price at RM528/MT (1Q FY2016: RM374/MT, +41%), offset against lower FFB production volume at 25,440 MT (1Q FY2016: 26,691 MT, -5%). Profit before tax for 1Q FY2017 was RM1.0 million as compared to profit of RM6.2 million for 1Q FY2016.
The variance of RM5.2 million was mainly due to gain on disposal of properties of RM11.2 million recorded in 1Q FY2016.
The plantation division recorded higher profit at RM4.1 million (1Q FY2016: profit of RM0.7 million, +RM3.4 million) mainly due to higher revenue of RM3.4 million.
The property division recorded loss of RM1.2 million in the current quarter (1Q FY2016: -RM2.1 million) due to lack of development activities.
Calvin comments:
A FAVORABLE RM3.4 MILLIONS HIGHER CONTRIBUTION FROM THE PLANTATION DIVISION!!
THE IMPROVEMENT WAS MAINLY DUE TO HIGHER AVERAGE FFB (Fresh Fruit Bunches) PRICE AT RM528/MT
NOW FFB HAS CROSSED RM600/MT AND MIGHT GO UP AS HIGH AS RM1,000/MT DUE TO SHORTAGE OF VEGE OIL DUE TO EL NINO/ LA NINA PHENOMENON.
SO CALVIN THINKS YOU GUYS ARE STILL IN THE DARK AS TO THE TRUE SITUATION OF DUTALAND
HMMMM???
IF PEOPLE WHO INVEST IN DUTALAND SHARES KNOW NOTHING? SURELY LOTS OF OTHER PEOPLE/ANALYSTS OUT THERE ARE ALSO IN TOTAL IGNORANT?
BETTER LOAD UP BEFORE OTHER DISCOVER THIS GOLD MINE!!!
Calvin, I said LAST YEAR i.e.year ended 30th June 2016 not first quarter of FY 2017. Kenny Heights facing financing problem. Several years ago a foreign party was supposed to be roped in a joint venture. Didn't materialized and I had sold off all my Dutaland shares at around 52 sen. I think Calvin bought them from me. Thanks Calvin.
In year 2007 I bought Dutaland at 60 cts when I studied the assets of Dutaland worth more than Rm1.00 net net.
I think I also bought Jaks at about the same price around this time.
After buying both Jaks & Dutaland I told my Johor Buddies. Both also not popular with them. So I was the only one who bought.
I sold of Dutaland too early then at 80 cts for a small 25% profit as nobody followed me to buy.
To my surprise Dutaland powered up to cross Rm1.60 for another 100% upside. Only then my Johor Buddies got excited. So sorry for them for not listening. So at Rm1.60 I told them not to chase Dutaland.
As for Jaks I took profit when it up 100% to Rm1.20. Sometime later I saw Jaks jumped to Rm1.40 & my remisier told me I still got some Jaks shares which I forgotten. I was so happy! So I told my remisier to totally clear off all Jaks shares at peak prices. I also made a second round when Jaks dropped to 40 cts & shot up 200% to cross Rm1.20 again the second time.
As for Dutaland I am happy to buy more at this very cheap depressed prices.
As for Grand Duta Hotel I phoned HQ. They said that Duta Grand Hotel is a 6/7 Star Hotel? And the last Hotel to be approved for building in KL. It will be ready in few years time. So by then if Duta Yap should sell it - There Will Be a Huge Windfall
Another Hidden Gem not know by the public and overlooked by anaylsts is Dutaland is the Top Holder of Olympia shares.
Dutaland owns 332 million Olympia shares. And at 11 cts a share now it translates to a Whopping Rm36.5 MILLIONS for Dutaland Shareholders.
With SO MUCH CASH IN ASSETS AND EQUITIES DUTALAND IS REALLY A HIDDEN GEM
Last time I told people to buy Jaks at 40 cts & Insas at 65 cts.
Now Jaks jumped 200% and many so called "sifu" started to get bullish on overvalued Jaks. Also AFTER Insas crossed 85 cts people started going GaGa! So stupid! Why didn't buy when cheap!
So it will be for Dutaland
Once Dutaland crossed Rm1.00 - many future "sifu" and "experts" will come out to promote Dutaland later!!
You not aware Olympia is related company of Dutaland? Olympia owns 48% of Kenny Heights joint venture. I used to own 75,000 shares of Dutaland and a few hundred thousands of Olympia. Sold during the rally. Bought back again after they crashed. Then finally sold off again, the last time for smaller profits. I own long enough to know well about both stocks. And never once in all those years did either company pay a single sen of dividend.
Boustead Plantation is a more undervalued pure plantation company, not Dutaland. I don't doubt Dutaland is undervalued, and has been undervalued for over a decade. It's main gem is Kenny Heights not the under planted plantation land in Sabah which was inherited from Mycom. Kenny Heights was injected in to save financially distressed Mycom.
He might only offer 50 sen to take it private. Kbunai was offered 5 sen, PetalingTin 24 sen, both undervalued but loss making property counters. Dutaland will be reducing its par value from RM1 to 50 sen. This would later allow shares to be issued to Duta Yap at 50 sen instead of previously minimum RM1 par value.
Yes, Insas got Inari at only 55 sen per share. I invested in Insas after I read about Calvin's write-up. Calvin does make good calls, his past records show. However, he also make not so good calls which I try to correct him but ...... he too stubborn to appreciate.
Posted by TheContrarian > Feb 12, 2017 09:00 PM | Report Abuse
Yes, Insas got Inari at only 55 sen per share. I invested in Insas after I read about Calvin's write-up. Calvin does make good calls, his past records show. However, he also make not so good calls which I try to correct him but ...... he too stubborn to appreciate.
I don't believe in stock selection contest. You can't select a stock just on the first day of a new year. Maximizing gains on stock market is timing and each stock has its own timing. Buy as close as to its bottom price and exit as close as to its highest price.
Rank 189 in stock pick 2017 but everyday talking like stock god...you not shame? All other people are laughing at you big mouth saliva holland king Calvintaneng
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
smalltimer
1,501 posts
Posted by smalltimer > 2017-01-24 19:26 | Report Abuse
http://www.thestar.com.my/business/business-news/2016/11/10/dutaland-receives-bursas-waiver-from-financial-distress-status/