KUALA LUMPUR: Dutaland Bhd has accepted RM49.50mil as compensation from Sabah's Land and Survey Department which had compulsory acquired a piece of land in Kota Kinabalu.
Dutland said the Sabah Land Office had acquired five acres of land which has a lease period expiring on June 9, 2051.
[As the Compensation Amount shall be satisfied entirely by cash, the Compulsory Land Acquisition will not have any effect on the issued and paid-up share capital and substantial shareholders’ shareholdings of the Company. The Compulsory Land Acquisition is not expected to have a material effect on the net assets and gearing of DutaLand Group for the financial year ending 30 June 2014. Based on the audited net book value of the Sabah Land which is approximately RM7.6 million as at 30 June 2013 and the Compensation Amount, the Compulsory Land Acquisition is expected to result in a net gain of approximately RM36 million to the DutaLand Group.
The Board intends to utilise the Compensation Amount for DutaLand’s working capital and/or to reduce the borrowings of DutaLand Group. ]
It was reported earilier that another potential buy for FGV is the 11977ha plantation land owned by Dutaland Bhd’s subsidiary Pertama Land & Development Sdn Bhd.
Dutaland is Olympia sister company.
Meanwhile Olympia has operations in gaming and leisure, property, financial services and investment holding. The group had settled a substantial portion of its debts under its restructuring scheme, which was implemented in April 2007.
Till Oct 2012 less than a quarter of the debts owing under the scheme remains to be settled by the final maturity date in April 2013. Olympia has cash and bank balances totalling RM33.5mil while its loans and borrowings, comprising short and long-term, stood at some RM240mil.
In Jan 2014, Mawhile Duta Equities Sdn Bhd has raised its stake in Dutaland Bhd to 86.51mil shares or 10.22% after the recent purchase of 16.905 million shares.
Dutaland group managing director Tan Sri Yap Yong Seong is deemed interest in the acquisition via his stake in Duta Equities. His indirect stake totalled 325.43 million shares or 38.46% after the recent acquisition via Duta Equities and through his interest in Kenny Heights Development Sdn Bhd and Olympia Industries Bhd.
It is selling a two ha leasehold tract in Kota Kinabalu to the Sabah state government for rm49.5 million. The disposal is expected to result in a net gain of rm36 million to the DutaLand.
The fair value for Dutaland based on its IV is rm 1.10.
Can someone share your views/opinion on this counter DUTALND with me pls. Shd I lock in my profit or continue to ride on? I see the chart that 0.590 is the immediate resistance. I thought of switching to TAMBUN. is it a good idea?
WilburR2 Those weak dutaland holders please sell your shares. I'll buy 0.46 all the way down. After all RM is a piece of paper only. :-)) 22/01/2014 11:54 John_Revolver Shut up and take my Dutaland! haha .. 22/01/2014 13:54
Apologies guys, not laughing at you but only specifically at one. Duta is still good. Agree with Brend. Like he said "The fair value for Dutaland based on its IV is rm 1.10."
So just don't get sore butts or fall off your horse. Cheers!
Directors & Insiders Just Bought Another 16.9 Million Shares!
How did they buy? Did they use proxy (other 3rd party) to buy, buy and buy little by little as not to let people know Dutaland shares are very undervalued.
Ha! this is indeed a smart way to collect cheap Dutaland shares from stale holders. But Bursa Rules force them to come out to the light at last! Through married deals filing!
By All Indication Insiders Are Bullish! , Hold Tight To Your Dutaland Shares! Something maybe brewing.
Hai Cavin Tan, This is a stubborn share, not easy to make money from this counter. I am still holding for abt 3yrs, still paperlost. Any idea who is the seller for 16.9 m.shares?
As far as i know (if i am not wrong), this Seni Kasuari is PAIC. It is just like passing from right hand to left hand. This ctr lack of stamina to move. I think this big boy need special tonic. U see lousy ctr like Menang move very high ardy.
As far as i know (if i am not wrong), this Seni Kasuari is PAIC. It is just like passing from right hand to left hand. This ctr lack of stamina to move. I think this big boys need special tonic. U see lousy ctr like Menang move very high ardy.loh. TO beat this big boys, u must have holding power. Do not play contra , this is my advice if u want to buy. Bye
Yes, TACHU, I think you are correct. It does appear like passing from left hand to right hand. As to Menang I have not bought any Menang shares but I do like Menang Leadership. Years back I bought a car from Menang by Tender. The place was Imbi Plaza.
As I was cash tight I asked Management One Month Grace For Me To Raise The Cash. They kindly consented. I remember Menang fondly till this day. I wish Menang do well.
As for Dutaland I hope Duta Yap will sort out his thoughts as to how he should unlock value for all the hidden Valuable Assets.
To all investors, 3 yrs ago, this company directors make a S&P deal by selling plantation to IOIcompany . Deposit 10% alrdy paid to Duta Ld. I forget the amount. On Duta Part alrdy approved but not IOI part. The funny thing is that Dutaland still paid back the deposit despite the IOI comp. cancel the deal finally giving some reasons best know to themself. So beware?
Good morning. I can understand your fears. There is always an unknown out there in investing monies into other people's company. Years back I bought IQ Group at 33 cts when it has NTA of over RM1.00. It has the bright prospect of a sunrise industry in LED Lights Manufacturing.
There was a rumour that Malaysia companies venture overseas to siphon money. One day to my horror IQ Boss sent Large Sums of Money to China for a new factory. Fearing hanky panky I completely sold all IQ shares for a small profit of 20%.
I wa proven wrong to sell my shares on fear. IQ did very well. In fact IQ went LIMIT UP some days.
At RM1.20 today IQ Group is up 263%.
So look at the Larger Picture. DUTALAND Has
1) Plantation Lands (Not sold to IOI is a blessing. Land prices Jumped since then.) Weida made a mistake in selling theirs. SO VERY GOOD FOR SHAREHOLDERS.
2) Mont Kiara .
Land Prices Have Grown By Leaps & Bounds!
3) Grand Duta Hotel
The Underlying Land is getting more Valuable by the day. Mulpha sold one piece (not too far away) for RM3,300 psf.
DUTALAND Shareholders are sitting on 3 Gold Mines. So just wait.
Thanks Calvin, i had been waiting for someone to write about Dutaland. I bought somemore yesterday after reading your post. I missed out on Mulpha when u recommendated was 42cents, but now it has moved up. Safe to go in this level ? Or should i just focus on Dutaland ?
Good that you bought Dutaland yesterday before it spiked up.
The Rule is, Never chase a good share after it has gone up a lot suddenly and also never sell a good share after it has gone down a lot suddenly.
If you can try to key in a lower price for Mulpha. Hope you can get some on weakness. Not all the people out there are long term investors. So be patience and who know? On days of contra or margin calls good shares can also weakened for us to buy some.
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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....
ris87
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Posted by ris87 > 2014-04-05 08:32 | Report Abuse
KUALA LUMPUR: Dutaland Bhd has accepted RM49.50mil as compensation from Sabah's Land and Survey Department which had compulsory acquired a piece of land in Kota Kinabalu.
Dutland said the Sabah Land Office had acquired five acres of land which has a lease period expiring on June 9, 2051.