Posted by Jian Bin Siew > 2012-08-09 10:18 | Report Abuse

Anyone have this share? We can start a discussion here.

Posted by iraymond > 2012-08-13 14:07 | Report Abuse

http://nextstockpick.blogspot.com/2012/05/plenitude-berhad-posts-weak-3q-2012.html

Posted by chin yin > 2012-08-13 15:11 | Report Abuse

Tks iraymond for the post. Have clearer picture now. Got in this counter before its bonus issue. Z.Z.z.z.. counter.

Posted by iraymond > 2012-08-13 16:02 | Report Abuse

http://www.btimes.com.my/Current_News/BTIMES/articles/plennty/Article/

Posted by 1M168 > 2012-08-13 16:04 | Report Abuse

Tambun .. better.

Posted by Jian Bin Siew > 2012-08-19 22:12 | Report Abuse

The second post from btimes no longer useful as it is many year ago... I like this share for its strong balance sheet and also strong management team.

Posted by ctquay600305 > 2013-03-19 23:40 | Report Abuse

How

Posted by Hustle > 2013-04-03 12:48 | Report Abuse

Oh shit Cold Eye grab his ball already loh

Posted by chia88 > 2013-05-17 13:52 | Report Abuse

What did cold eye said about this company? Is this a buy signal?

Posted by chia88 > 2013-05-18 18:19 | Report Abuse

This company is launching Tanjong Tokong 29-storeys Condominium Tower (100 units), each unit 1.5 mil next month.

Posted by chia88 > 2013-05-20 11:20 | Report Abuse

Cold eye is always right, may up 0.20c this week. Target for 3.80

Posted by JaniceLove > 2013-05-21 19:05 | Report Abuse

Hi guys...I'm Janice. I'm newbie in stock market. Is it too late for me to go in at this price @ 2.42? Your advice & guidance I value,.,thanks all.

Posted by Greenpower > 2013-05-21 21:16 | Report Abuse

Me too.

Posted by TINGLEYYIEW > 2013-05-31 11:09 | Report Abuse

What is the target for plenitude....

Posted by pandarian > 2013-06-22 13:33 | Report Abuse

U all cant follow cold eye as he can wait for another 30 yrs~~~ lolx

Posted by chalying1122 > 2013-07-04 13:25 | Report Abuse

Any news on Tanjong Tokong condo launch ?

Posted by mlg123 > 2013-07-09 12:11 | Report Abuse

slow and steady plenitude is inching up

Posted by mlg123 > 2013-07-15 11:06 | Report Abuse

can plenitude go higher than 2.48 this round?

Posted by chongkonghui > 2013-07-16 13:25 | Report Abuse

Low ROE, LOW/Zero DY, High PE. Good thing about it, high NTA.

Posted by SNCA > 2013-07-29 18:16 | Report Abuse

lookin forward for its long term development, wat s NTA btw
?

Posted by Victorchan > 2013-08-01 17:38 | Report Abuse

net tangible assets

Posted by SNCA > 2013-08-02 19:28 | Report Abuse

it has a lot under-valued land bank

Posted by johotin88 > 2013-08-04 01:49 | Report Abuse

Coming quarter financial report will not be good looking at the trend these few days.

Posted by SNCA > 2013-08-04 17:03 | Report Abuse

low ROE is their weakpoint as compared to huayang n mahsing, hope they increase their development more

Posted by SNCA > 2013-08-04 17:12 | Report Abuse

this would be their last quarter right ? Johotin, i think they would definitely worse than last year, but mayb better than previous quarters of this year

Posted by johotin88 > 2013-08-04 22:24 | Report Abuse

Anytime will become another ASAS , Being privatised at a unreasonable price.

Posted by SNCA > 2013-08-05 15:15 | Report Abuse

but i would still invest it if the price lower a bit lol

Posted by johotin88 > 2013-08-27 21:56 | Report Abuse

Oh so crazy !volume so low can drag down so much ... now privatise it at 2.3 i also will accept ...pls .......

Posted by SNCA > 2013-08-27 23:02 | Report Abuse

cheap selling happens in property stocks

Posted by SNCA > 2013-08-27 23:20 | Report Abuse

when their quarter report released ?

Posted by David Ng > 2013-08-28 18:34 | Report Abuse

record earnings and profits.

Plenitude Bhd (5075.KU) - Malaysia
4th quarter ended June 30:
Figures are in Ringgit (MYR).

2013 2012
Revenue 118,915,000 42,322,000
Pretax Profit 62,862,000 24,330,000
Net Profit 50,835,000 18,758,000
Earnings Per Share 18.80 Sen 6.90 Sen
Dividend Omitted Omitted

12 months ended June 30:

Revenue 208,547,000 205,959,000
Pretax Profit 102,202,000 97,629,000
Net Profit 77,792,000 72,346,000
Earnings Per Share 28.80 Sen 26.80 Sen
Dividend Omitted Omitted

Posted by SNCA > 2013-08-30 19:06 | Report Abuse

good earning last quarter !

Posted by EngLee > 2013-09-04 21:16 | Report Abuse

Expecting same quantum of dividend as last year to be declared in coming months .

Posted by chang0509 > 2013-09-04 22:52 | Report Abuse

Maybe higher dividen as net profit and cash reserve increase.

Posted by chang0509 > 2013-10-08 19:19 | Report Abuse

Dividen 6 cents for this financial year.

Posted by lcng123 > 2013-10-09 17:58 | Report Abuse

Plenitude will held AGM on 31 Oct. Those who attend the AGM, please raise up a question why Plenitude kept high cash for a couple of years. They just sold 15 parcels of land in KL and received RM49.2 Mil cash. If no further investment plan, please request them to give us higher dividend.

Posted by davidkkw79 > 2013-10-10 17:19 | Report Abuse

As a property developer, it is always need to reserve some money to develop more housing project.
Instead of giving out more dividend, perhap plenitude will giving bonus to reward shareholders soon.

Posted by davidkkw79 > 2013-10-10 17:20 | Report Abuse

Just similar case as Guh company, rather giving out bonus shares than giving dividend.

Posted by davidkkw79 > 2013-10-21 12:08 | Report Abuse

Its project in Puchong is selling very hot now !

Posted by davidkkw79 > 2013-10-21 20:39 | Report Abuse

What a cheap and undervalue company, has almost 400 millions cash in hand...and a lot landbank which long years haven't re-value... but its market value just worth 600 millions only ?! Do you believe it ?

Posted by kcchongnz > 2013-10-22 08:29 | Report Abuse

Plenitude and Graham net-net

In 1932 at the bottom of the Great Crash, Ben Graham wrote an article on Forbes about the cheapness of the market and how companies are being quoted in the market for much less than their liquidating value, as if they were all destined to be doomed. He called these types of stocks, "net nets", companies that sell for less than its net current asset value, or net net working capital. Graham used the following formula to compute the liquidation value of a company.


Net Net Working Capital = Cash and short-term investments + (0.75 * accounts receivable) + (0.5 * inventory) – total liabilities


It's the lowest form of valuation you could possibly do because it ignores everything about the business and just focuses on tangible assets. The formula states that;

• cash and short term investments are worth 100% of its value
• accounts receivables should be taken at 75% of its stated value because some might not be collectible
• take 50% off inventories, due to discounting if close outs occur

Net net comparison of some property companies
Three companies from Bursa; Daiman, Plenitude and KSL’s latest balance sheets were used to compute their net tangible asset and Graham net net values. Besides cash, the net net values of land, development costs and investment properties owned are also taken as 100% of the book value. This is a fair assessment as it is believed that these assets are likely to worth more than their book value than otherwise. Note that tax assets, property, plant and equipment, Goodwill and “other assets” are taken as worth nothing.

Table 1 below shows the prevailing share prices of the three property companies at the close in the morning on 6 September 2013, their net tangible assets and Graham net net per share.

Table 1: Graham net-net valuation of Daiman
Company Price NTA Net-net Discount
Daiman 2.63 4.85 3.76 -30%
KSL 2.02 3.13 2.47 -18%
Plenitude 2.10 3.35 3.04 -31%

The table shows that Plenitude, with a share price of RM2.10, is trading at the highest discount of 31% to its Graham net net value of RM3.04. Daiman at RM2.63, follows closely at a discount of 30%. It is noted that both Plenitude and Daiman has no debts at all while KSL has a debt to equity of 0.21. Plenitude also has its highest holding in cash at RM1.44, or 37% of the total assets. Daiman’s cash holding is RM1.23 per share, or 20% of total assets. KSL on the other hand has most of its value in land held for development of 36% of total assets. KSL’s net cash is only 47m, or less than 3% of the total assets.


Earnings based comparison
Table 2 below shows the market valuation based on earnings at the latest year end results.


Table 2: Market valuation based on earnings
Company Price PER EV/Ebit EV/Sales
Daiman 2.63 8.0 4.5 1.7
KSL 2.02 6.1 5.2 2.4
Plenitude 2.10 7.4 2.0 0.9

KSL’s PE ratio of 6.1 appears to be the lowest valuation while there is not much difference between Plenitude and Daiman with PE between 7.4 and 8.0. However based on enterprise value, Plenitude has the best value with its market enterprise value (EV) only twice the earnings before interest and tax (Ebit). EV is even less than sales at 0.9 times.

Enterprise Value = Market Capitalization + Minority interest + Total Debt - Cash

KSL is the most expensive when enterprise value is taken into consideration. Its EV is 5.2 times Ebit, basically because it is the only one utilizing a fair bit of debts.

Conclusions
All three property companies above show that they are trading at steep discounts to their net tangible assets. They are even traded at substantial discounts to their Graham net net asset values, ranging from 18% to 31%. Of the three, Plenitude appears to be a better bargain with a Graham net net discount of 31% and enterprise value only twice its Ebit and less than its annual sales.

Posted by iafx > 2013-10-22 09:24 | Report Abuse

another U.S story? given time this ctr will be juz fine, don't listen to liar:

Posted by kcchongnz > Oct 21, 2013 11:42 AM | Report Abuse

bsngpg, my statement about 75%-80% of the funds under-performed the market is for the research from the US market. My statement is wrong in the Malaysian context....

I guess the Malaysian market is not an efficient market as compared to the US market.

see Blog: [转帖] 陳鼎武：美債風險‧馬股漲勢欠穩

Posted by kcchongnz > 2013-10-22 09:35 | Report Abuse

Liar? See personal attack. People here will appreciate if you can tell what lies are in my post in the Graham net-net and private market comparable analysis of Plenitude and other property companies.

This is a post about investing in Plenitude. Is it about managed funds or unit trusts? Or is it for personal attack?

Posted by iafx > 2013-10-22 09:46 | Report Abuse

goto kfima thread and read for yourself, c how kcchongnz attack ppl, c how she copied and modified other's comment to make her story.

not argue here, go and read for yourself

Posted by kcchongnz > 2013-10-22 09:58 | Report Abuse

aiyah, told you already nobody gives a damn who you quarrel with and what you are quarreling about.

Share your knowledge here about whether Plenitude is a good investment or not, and why is it good or bad. What other better investments and why. That will be useful.

Posted by iafx > 2013-10-22 10:01 | Report Abuse

c how kcchongnz copied and cheat at kfima thread, pg.45:

Posted by kcchongnz > Jul 23, 2013 04:15 PM | Report Abuse
...
Btw, you got idea whether there is ghost in the this thread? You know the ghost who amended the word "revenue" with "profit"...

Posted by davidkkw79 > 2013-10-23 09:56 | Report Abuse

iafx, what you abuse on Kchongnz is true ? then I think I better cabut first, bfore this stock going to holland....

Posted by iafx > 2013-10-23 09:59 | Report Abuse

no, this stock will not go to Holland, neither it is that "fantastic" as the auntie quote. whether this auntie is abused or she is abusing everyone, read her abusive postings yourself to judge, don't put word in other's mouth.

Posted by kakijudi > 2013-10-23 10:04 | Report Abuse

kcchong diam diam la

Posted by kcchongnz > 2013-10-23 10:05 | Report Abuse

Posted by iafx > Oct 22, 2013 10:01 AM | Report Abuse

c how kcchongnz copied and cheat at kfima thread, pg.45:

Posted by kcchongnz > Jul 23, 2013 04:15 PM | Report Abuse
...
Btw, you got idea whether there is ghost in the this thread? You know the ghost who amended the word "revenue" with "profit"...


No medicine can cure you. You really have no conscience. Have some deep thought for yourself.