Posted by Idiot > 2015-01-30 13:39 | Report Abuse

Gotta be careful - company pursuing a lot of big "investment" projects with long gestation period. Mismatch of cashflow could happen

Posted by fast > 2015-01-31 08:40 | Report Abuse

That is why they didn't declare dividend for FY2014. Sacrifice short term gain for even better long term gain. Investing in this company really need patience and holding power.

Posted by Idiot > 2015-02-04 17:21 | Report Abuse

only consolation - someone (owner ?) see value in this stock and mopping up expiring warrants

Posted by fast > 2015-02-05 09:12 | Report Abuse

Hunza sure got value la... Or you think they stupid enough to have share purchase back by company up to 10%?

Posted by fast > 2015-03-02 21:15 | Report Abuse

Cash per share increased to 21.7 cents

Posted by fast > 2015-03-04 19:09 | Report Abuse

Share buyback by company resumed...

Posted by fast > 2015-03-19 13:09 | Report Abuse

With the launch of the Alila 2, the Juru project, and the Bayan Baru projects, the price will shoot to RM2.09 very fast.

Posted by tkg8 > 2015-03-19 18:10 | Report Abuse

Something is brewing...

Posted by thinktank123 > 2015-03-19 18:58 | Report Abuse

Yup. Looking at the sudden hike today. Something big is coming! Don't miss the boat

Posted by thinktank123 > 2015-03-19 19:05 | Report Abuse

With such a high NTA of 3.54. Upside is huge!
Furthermore it is a profitable company. good profit track record. And undervalued. No surprise if major share holders will privatise it.

Posted by tkg8 > 2015-03-19 22:54 | Report Abuse

Any further news or info about privatization?

Posted by lks_5291 > 2015-03-19 23:03 | Report Abuse

May be bonus share coming too... 10% boughtback share... lol

Posted by lks_5291 > 2015-03-19 23:13 | Report Abuse

HUNZPTY-Request For Suspension

HUNZA PROPERTIES BERHAD

LISTING'S CIRCULAR NO. L/Q : 72750 OF 2015

Kindly be advised that at the request of the above Company, trading in its shares will be suspended with effect from 9.00 a.m., Friday, 20 March 2015 pending a material announcement.

Posted by lks_5291 > 2015-03-19 23:14 | Report Abuse

Monday got show??

Posted by Unbeatable Nick > 2015-03-19 23:55 | Report Abuse

hopefully better show than Sunsuria after suspension!

Posted by tkg8 > 2015-03-20 08:07 | Report Abuse

Long waiting counter which has been moving horizontally for quite some time...

Posted by tkg8 > 2015-03-20 18:42 | Report Abuse

Privatization with Rm2.50 per share....which is far below the NTA value!
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1909457

Posted by lks_5291 > 2015-03-20 20:30 | Report Abuse

Wow... Totally unfair... NTA is ~ Rm3.50.. Then what about the 10% buyback share?? The shareholders are entitled as well... Haiz... big bosses only take advantage of small shareholders instead of creating value to all...

Posted by JbHotSpot > 2015-03-20 20:36 | Report Abuse

Agreed unfair

Posted by JamesChin > 2015-03-21 10:16 | Report Abuse

wtf,this is not fair to invester..should offer rm 3 and above....

Posted by enid888 > 2015-03-21 23:51 | Report Abuse

The NTA of RM3.50 per share are based on the prices when the properties were bought years ago which was much lower than the current prices. The properties had appreciated substantially especially since 2009.

Based on the research by Alliance Bank analyst, Bernard Ching dated 15/5/13, the RNAV was RM6.55 per share in May 2013.

Please go to Bursa Malaysia website, type Hunza and u can find the research report.

The current NTA should be even higher than 6.55/share bcos the land prices and Gurney Paragon has appreciated a lot since the report was written. The current NTA should be more than RM7.50/share.

Furthermore, 10% of the share has already been bought back by Hunza, the NTA should be even higher.

Posted by enid888 > 2015-03-22 00:12 | Report Abuse

The controlling major shareholders know the actual value of the company very well. They know that it worth more than RM7.50 a share. That is the reason they want to take it private at RM2.50.
It is like buying your terraced house worth RM750,000.00 at the price of RM250,000.00. Do you want to sell your house at RM250,000.00?

Their intention is to relist the company again few years later at RM7.50 a share and they will be 3 times richer. We as small shareholders are in the dark and fortunately thanks to the analysts' research papers n informations that are available from the annual reports and internet, we can find out the actual worth of the company.

I will not accept the offer price of RM2.50. I will be present to cast my vote.

Posted by CFTrader > 2015-03-22 01:20 | Report Abuse

lol ... RNAV is just comparison of price with your neighbour only.
Your neighbour sell Double story terrrace @ 750k , doesn't mean you can sell at the same price.

And .. I doesn't have intention of saying you should accept Rm 2.50 that offer.

When you buying a share, you are buying it's asset... and business...
My NNWC valuation gives RM 2.47/share, which i put 75% x investment property in the value.
Why I put 75% of investment property value ? That 25% value as a buffer area.

So they are buying your business with RM 0.03 ...

Do you own math.

Posted by enid888 > 2015-03-22 09:18 | Report Abuse

RNAV is the actual value of the company that is calculated based on the current market asset prices minus all the liabilities of the company. When they want to take the company private, one of the reason is the current share price is much lower than RNAV and they will gain a lot by taking the company private.
However, the minorities should only accept a price that is reasonable. What price is reasonable? I think RM5.00 is reasonable which is 33% lower than the actual worth of the company (RM7.50).

Posted by enid888 > 2015-03-22 09:33 | Report Abuse

The major shareholders, Khor Teng Tong n related ppl had already planned this for at least 1 year. They had instructed Hunza to buy back its own shares to the maximum allowed by authority which is 10% by using the cash of the company. that 10% treasury shares (22,508,544 shares) worth RM47,267,942.40.
When he takes the company private, that 10% is actually owned by him.

Posted by lks_5291 > 2015-03-22 09:40 | Report Abuse

Lembaga Tabung Haji and Yayasan Bumiputera together ald ~ 14%. You only need 10% disagreement... So, you may doubt the intention behind this news... If true, pls show sincerity coz it's not gonna be easy. If false, pls goreng higher... Haha... Used shareholder (2012 - 2014) money to "grow" the gurney paragon, now just starting to bear fruits and it can be REIT as well... Then you want to set pagar...

Posted by enid888 > 2015-03-22 10:03 | Report Abuse

lks_5291, I totally agree with u.

Lembaga Tabung Haji n Yayasan Bumiputera are funds n run by appointed personnels. Hopefully the appointed personnels will act for the benefits and the rights of the funds. I also hope that they will act like if they are investing with their own money.

Posted by enid888 > 2015-03-22 10:16 | Report Abuse

They pressed down the share price for the last few months so that their offer RM2.50 is abt 40 sen higher than last trading price. To make it looks attractive.

Talking abt the warrants, the expiry date of the warrants was 2/3/2015 which was 2 weeks ago. Those who did not had the money to convert would had to sell their warrants to the market at low price n KTT n their ppl bought a lot of that.
Now, 2 weeks later, after they had sapu what they can be sapu at a cheap price from the market, they announced this.

Posted by tkg8 > 2015-03-22 10:52 | Report Abuse

The company board of directors had started their share buy back regularly since 2014.

Posted by thinktank123 > 2015-03-22 12:56 | Report Abuse

Enid888, you are right. They knew about how much their land are worth for currently and been planned for a long time. You could see on bursa website, since late 2013, there were so many shares buy back announcement. Like lks_5291 said, we all should push this counter higher. More people buy, will have the higher chance to reject this 2.50 offer!

Posted by thinktank123 > 2015-03-22 13:00 | Report Abuse

And I heard there are rumours that some investors willing to do that. So buy in the morning! ! This counter may be limit up too!

Posted by lks_5291 > 2015-03-22 15:42 | Report Abuse

Company buyback is good and bad depends on how u c it...

Buyback can be good:
1. Reward shareholder as bonus
2. Cancel and increase EPS as less circulating share and opt for value growth. So, less speculation when your share price is too high for speculators.
3. Sell back into market during high prices to increase company earning

It is bad when:
1. Use the capital to buyback instead of spending in operating and investment activities for revenue
2. Using price stabilization as an excuse to cover management board incompetency
3. Buyback and then PRIVATIZED!!

Posted by hoplanner > 2015-03-22 22:11 | Report Abuse

Shrewd businessmen. These arguments hold water & SC as well as Minority Watchdog groups must act.

Posted by enid888 > 2015-03-22 23:30 | Report Abuse

Complaints must be made to SC n Minority Watchdog groups. More complaints are welcome so that they have the reasons to look into this matter.

Posted by OngLiao99 > 2015-03-23 13:05 | Report Abuse

The offer should be north of 3.30/share min. Their land bank and gurney mall worth more. At 2.50 it is just taking the value of the mall.
***************************************************
CapitaMalls Asia Limited (CMA)
Acquisition of Queensbay 4 Mall in Penang, Malaysia *22 Dec 2010*
Transaction Summary:
•
Penang’s largest mall
•
Purchase consideration: Approximately RM651.8 million
•
90.7% retail strata area of mall & 100.0% of car park
•
Strengthens CMA’s market leadership position in Penang
•
Initial Property yield of approximately 5.0%

Posted by OngLiao99 > 2015-03-23 13:08 | Report Abuse

KUALA LUMPUR: CapitaMalls Malaysia Trust (CMMT) is buying the Tropicana City Mall with its office tower for a purchase consideration of RM540mil.
The trustee, AmTrustee Bhd, had on behalf of CMMT, signed a conditional sale and purchase agreement with Tropicana City Sdn Bhd to buy the property.
The property comprises of a four-storey shopping mall known as Tropicana City Mall and the four levels of car park comprising of 1,759 car park bays and a 12-storey office building known as Tropicana City office tower.
The retail mall has a net lettable area (NLA) of 448,248 sq ft. It started operations in December 2008 and the approximate age of the property is six years. The committed occupancy rate was 89.2% as at Jan 15, 2015.

**************************************************************************************

Posted by OngLiao99 > 2015-03-23 13:10 | Report Abuse

I believe they low ball the offer knowing that they have room to adjust up another 10%....foresee $2.80 at least.

Posted by enid888 > 2015-03-23 15:03 | Report Abuse

They will adjust the price upward only when the sensed that the shareholders do not agree with the price offered. Upmost importatnt is the minority shareholders must be informed abt the actual value of the company so that they can make the right decision. They can decide whether the offer price of RM2.50 is fair or not comparing to the RNAV of RM7.50 a share.

Posted by murtadzashah71 > 2015-03-23 15:09 | Report Abuse

Since when does this company care about investors welfare? All for their
own pocket. Want to take private? Show me the proof of financing. Just out to con investors.

Posted by 2222 > 2015-03-23 20:45 | Report Abuse

apek owner always like this,,share worth rm7.50,,they use rm2.50 buy back,then delisted

Posted by Vizhai > 2015-03-23 21:07 | Report Abuse

When they pay us RM2.50?
If we buy now Rm2.3, still can earn Rm0.20, right?
The issue here is when they pay us back...

Posted by enid888 > 2015-03-24 00:55 | Report Abuse

Dear minority shareholders,

Let us look at one of the Hunza properties - Gurney Paragon
We use its next door shopping mall Gurney Plaza as a benchmark.

From CapitalMalls Malaysia Trust 2014 Annual Report.

Gurney Plaza (CapitalMalls Malaysia Trust)
Net Lettable Area : 887,764 sq. ft., Independent valuation : RM1,295mil.
Value/ sq. ft. = RM1,458.72

Gurney Paragon (Hunza)
Net Lettable Area : 720,000 sq. ft.
Value = 720,000xRM1,458.72 = RM1,050.28mil
Hunza Tower
Net Lettable Area : 100,000 sq. ft.
Value = 100,000xRM1,000.00 = RM 100mil
Total Value of Gurney Paragon = RM1,150,28mil
Total no. of Hunza Shares in Market 225,085,440 shares
(From Khor Teng Tong Holdings Sdn. Bhd. Offer Letter)
Value/share = RM5.11/share

Bayan Baru Development Land measuring 42.3acres.
The current value/sq.ft. of the land is RM 300.00/sq. ft.
This piece of land worth RM552.78mil
Value/Share = RM2.46/share

Shareholders, just these 2 prime properties,
Hunza already worth RM7.57/share. The offer price of RM2.50 is totally unfair.

There are other valuable assets
400 acres in Bandar Putra Bertam, Seberang Perai
9.8 acres in Alila 2, Tanjung Bungah
6 acres near to Mont Kiara (KL)
36.9 acres near Auto City, Juru, Seberang Perai
500 acres in Sungai Petani (Kedah)

Posted by kstay60 > 2015-03-24 01:15 | Report Abuse

dear shareholders of hunza, can we set up a minority shareholders action committee to protect our interest?

Posted by kstay60 > 2015-03-24 01:56 | Report Abuse

the directors spent more than rm47 mil cash belonging to the company to carry out a series of systematic buy-back of 10% of its paid-up capital for more than 1 year. now that they intend to take the company private, these shares and cash worth more than 47mil will be theirs, at the deprivation of the minority shareholders. we should all be entitled to a distribution of the treasury shares at the rate of 1 for 10, or at least a cash payment of 25 sen per share.

Posted by lks_5291 > 2015-03-24 07:33 | Report Abuse

Our best hope is Lembaga Tabung Haji (7.33%) & Yayasan Bumiputra (6.49%)... Let c how they respond 1st... If I am KTT, i will not fight a war that i can't win except the unexpected... There must be "ghost" among the so called minority shareholders. Just for entertaining purposes: Lim KHUAN Eng holds 0.74%. haha...

Posted by hoplanner > 2015-03-24 07:50 | Report Abuse

Kstay60 yes we should form the Committee.

Posted by lks_5291 > 2015-03-24 07:54 | Report Abuse

Clarification: The 0.74% Lim KHUAN Eng holds is warrants which expired ald...

Posted by enid888 > 2015-03-24 09:09 | Report Abuse

I am waiting for Lembaga Tabung Haji's n Yayasan Bumiputra's response n announcements on their stands on this privatization offer. They hv to protect the interests of their members, contributors n shareholders. These 2 organisations hv all the professionals (analysts, accountants, economists n fund managers) to analyse Hunza n the offer price. The members n contributors who understand the situations will scrutinise the two organisations' decisions n make sure that they protect the interests of the organisations.

Posted by JT Yeo > 2015-03-24 09:17 | Report Abuse

All Hunza shareholders, I do not own the shares but I want to share my analysis.

All of our goal is to make a good investment return right? The main question is not really about how the main shareholders are robbing minority shareholders, the more important question is -

1. if there is no privatization, what is the PROBABILITY that the share price will go to RM3.50 (NAV)? How long can you reasonably expect that (Timeframe)?

2. What is the PROBABILITY that the share price will go to RM7.50 (RNAV)? How long can you reasonably expect that (Timeframe)?

There are some property companies with huge landbank and those lansd have not been revalued for 10-20 years. They have really high RNAV compare to current share price, so you think it is undervalued, and figure that as long the land value increases every year, your 'wealth' is increasing too, regardless of the share price. The question is - if the management never 'unlock' the value of those value (sell or build something on it) for the next 20 years, are you gonna wait 20 years for your wealth to be realized?

So Hunza have some malls example Gurney. How much should it really worth? If you are a businessman, you would be looking at how much the mall can generate right (Rental, carpark revenue) and interpret it as a yield %. If say you calculate the yield is 2% and foresee future rental will be flat, then you will think I might as well put it in FD and generate 3% correct?

You would not go and think Gurney got RNAV so I should pay at RNAV, make sense? Unless the businessman wants to destroy the mall and sell the land or build something on the land that he thinks will worth more (create more revenue) than having a mall there.

Posted by enid888 > 2015-03-24 10:19 | Report Abuse

JT Yeo, u r right only to certain extent. That depends on how u view the property, Hunza in this case.

Let us use an example, u we own a linked house that worth RM1mil. That house can only be rented out at RM2,000.00 per month. Ur annual gross income is only RM24,000 and gross yield is only 2.4%. Ironically, the house still worth RM1mil irrespect of the yield generated. We can not say that we want 10% yield (abt gross PE 10) and based on 10% gross yield, I value the house at only RM100,000.00. This is real estate. It is not just a business model. Many ppl will still keep the house even it is low yield bcos the house will appreciate further in long terms. They don't make from the rental but they make from the capital appreciation.

Coming back to Hunza, we as minority shareholders do not know the bad intention of the major shareholders in advance. Many of us are value investors (small or big) who bought the shares bcos it was undervalued. Many of us saw the good prospects of Gurney Paragon n invested in Hunza before or while Gurney Paragon was under construction. Now, the trees hv bare fruits, the major shareholders want to privatize the company. They hv to offer a price that is reasonable say RM5.00/share. If we know that the major shareholder hv this bad intention, I don't think any of us would hv invested in Hunza in the first place. The shareholders had contributed n assisted Hunza in building Gurney Paragon n building up the landbanks. Off course, we recognised n ackowledged the hardwork of the directors management. If the major shareholders do not intend to share the friuits with the other shareholders, they should hv privatized the company b4 Gurney Paragon was constructed or they should hv not listed Hunza in the first place.

Hunza n some other property counters are full of undervalued properties. Owning the shares of these counters are like owning properties. Some ppl bought into a property and keep for 10-20 yrs bcos they know that they are richer bcos the properties appreciate many times in long terms. I am sure that one day (3yrs, 5yrs, 10yrs or 20 yrs), the true value of these properties will be realised.