Posted by kcchongnz > 2013-11-20 11:45 | Report Abuse

Tambun has been doing very well, yes. If you are interested, you can read my opinion in one of the threads here.

Plenitude is a different story. It is not that aggressive in recent years and revenue and earnings growth is not good, but it really has huge amount of cash.

so which company is better to invest is a matter of personal choice. For me I am a conservative investor and I prefer to be safer. Plenitude, because of its high quality assets it has, is my preference.

Posted by mlg123 > 2013-11-20 11:49 | Report Abuse

the retained earning of plenitude is also very high. this will enable it to execute another round of bonus issue in the future.

Posted by kcchongnz > 2013-11-20 11:53 | Report Abuse

When I talk about Plenitude assets, it is really very high quality; cash and investment in quoted shares, land bank which has not been revalued for ages etc.

These stuff alone after less off total liabilities, its value per share is still way above the market price now.

Posted by lcng123 > 2013-11-20 13:03 | Report Abuse

Agreed with both of you. I have invested in plenitude a couple of years and looking on his cash kept increasing at the current level of RM396mil, if exit this counter now, it was unfair to us. As a long term investor, we have the right to enjoy the huge cash. The major shareholders should do something on the cash.

Posted by buybuybuy > 2013-11-26 14:54 | Report Abuse

plenitude has very high quality assets at Iskandar area Which hasn't been re-estimated. The share also has a huge cash on hand. Target price 3.50.

Posted by lcng123 > 2013-11-26 16:21 | Report Abuse

i am aiming their cash. today plenitude up 12sen. any good news announce ?

Posted by lcng123 > 2013-11-27 09:50 | Report Abuse

good scene. plenitude is in uptrend. keep forward.

Posted by David Ng > 2013-11-27 23:37 | Report Abuse

FYI the development beside the hotel has started. Some 20+ stories condo.

Posted by davidkkw79 > 2013-11-29 18:39 | Report Abuse

Hope before end of this year 2013, it can reach RM3.0

Posted by lcng123 > 2013-12-02 20:56 | Report Abuse

plenitude's hotel started operation in Oct. the hotel name is four points by sheraton hotel. this is a four stars seaview hotel located in tanjung bungah, Penang with 220 rooms the rate starting from RM340. It is a sandy beach and modern style hotel. hope this will bring plenitude a excellent Q2 financial result (Oct-Dec 2013). you may go to the link : http://www.agoda.com/four-points-by-sheraton-penang/hotel/penang-my.html

Posted by davidkkw79 > 2013-12-02 21:04 | Report Abuse

Icng123, thank for sharing link. Indeed it really look beautiful.

Posted by thek > 2013-12-03 22:32 | Report Abuse

The current price is years high. Time to dispose for those who still hold it as the dividend at 0.06 is not so impressive.

Posted by lcng123 > 2013-12-04 10:40 | Report Abuse

for sure 6sen dividend is not impressive, but then i am still waiting how the management going to utilise the huge cash (rm396mil) in account. hopefully a special dividend will be declare.

Posted by thek > 2013-12-05 07:44 | Report Abuse

lcng123, they r conservative species. do not waste your time.

Posted by davidkkw79 > 2013-12-19 15:42 | Report Abuse

...... = =

Posted by davidkkw79 > 2013-12-27 09:38 | Report Abuse

http://www.nanyang.com/node/587969?tid=687

Posted by lching > 2013-12-30 16:24 | Report Abuse

what happen? any news?

Posted by davidkkw79 > 2014-01-02 08:39 | Report Abuse

Just fasten your seat belt, it gonna boom up in anytime and soon....

Posted by lcng123 > 2014-01-03 16:31 | Report Abuse

david, you are right. recently land rich companies such as brem, shl and cview start boom up. may be is the turn for plenitude soon. plenitude has huge lank bank in tebrau (johor), puchong (selangor), batu ferringi (penang) and sungai petani (kedah). most of the lands bought in a very cheap price and all these lands never revalue for the past 10 years. remember... plenitude a cash up rm396mil (rm1.46/share). last year, plenitude sold a piece of land 3.53 acres in kuala lumpur with cash rm49.5mil (purchase in 2005 with rm3.9mil) with margin rm45.6mil.

Posted by lcng123 > 2014-01-07 10:10 | Report Abuse

plenitude is moving forward to 52weeks high. good signal.

Posted by davidkkw79 > 2014-01-07 15:06 | Report Abuse

Can you believe it ? A company market value at around 600 millions, but has 400 millions cash in hand, and has around 1,000 acre land......This is called Deeply undervalue property stock !

Posted by lcng123 > 2014-01-07 16:22 | Report Abuse

yes. david, that's why i kept plenitude for couple of years and never sell any single share. just wanna see how they are going to utilised this huge cash fund (rm1.46/share).

Posted by morivae > 2014-01-07 17:23 | Report Abuse

they are keeping so much because when the property price crash they could scoop up cheap land...

Posted by davidkkw79 > 2014-01-09 16:26 | Report Abuse

deeply undervalue !

Posted by lcng123 > 2014-01-13 13:20 | Report Abuse

i am accumulate plenitude at rm2.65 today. plenitude got a lot of cheap landbank which was purchased more than 10 years ago. plenitude will become another brem soon.

Posted by davidkkw79 > 2014-01-13 16:44 | Report Abuse

all property all boom up, just except plenitude...

Posted by lcng123 > 2014-01-13 16:51 | Report Abuse

david, be patient. plenitude's engine just started this year. just wait and see how this cash rich and land bank rich company perform.

Posted by kcchongnz > 2014-01-13 16:58 | Report Abuse

Buying something for less than its value. The most dependable way to make money. Buying discount from intrinsic value and having asset price move towards its value doesn’t require serendipity; it just requires that market participants wake up to reality.

If your estimate of intrinsic value is correct, over time an asset’s price should converge with its value.

Trying to buy below value isn’t infallible, but it’s the best chance we have.

Howard marks: the most important thing illuminated.

Posted by davidkkw79 > 2014-01-14 22:30 | Report Abuse

Good advice from kcchongnz.

Posted by skc750411 > 2014-01-14 22:50 | Report Abuse

Tany one know who is the person behind this com. Seemc like not the md

Posted by skc750411 > 2014-01-14 22:52 | Report Abuse

To stingy on the dividend and huge cash pile and equity dun know how to use, why the reason roe is so low

Posted by 9010 > 2014-01-26 14:07 | Report Abuse

Hi kcchongnz; I am new to this blog.
The net-net valuation is appealing.
However like many has commented they seem to have huge cash pile and good land bank. Wonder any news of project launch recently and any report you have come across on their revalued nta.

Posted by topseeker > 2014-01-27 16:30 | Report Abuse

DAMN CHEAP NOW!!!

Posted by lepeng85 > 2014-02-11 11:03 | Report Abuse

down down down, wait it down to below RM2

Posted by lcng123 > 2014-02-12 10:52 | Report Abuse

lepeng, are you dreaming? plenitude cash rm396mil, properties net book value stood over rm700mil and most of the properties bought 10 years ago. if revalue all these properties, the value will hit more than rm1bil. so the value of plenitude will be rm396 + rm1bil = rm1.396bil and nta will be around rm5.20.

Posted by lepeng85 > 2014-02-12 15:46 | Report Abuse

aiyo, talking only, nowaday every property company just always has those kind of story of rich landbank. If it is really so valuable, why it is down? Do you think market really overlook it ? Don;t be dreaming lar, be more practical.

Posted by lepeng85 > 2014-02-12 15:47 | Report Abuse

unless it is down below than RM2, then I only will consider to grab it a bit.

Posted by lcng123 > 2014-02-12 21:28 | Report Abuse

so you just wait and see whether your dream will come true or not. good luck.

Posted by ttgipoh > 2014-02-13 11:58 | Report Abuse

insider buying, credit suize selling last few days. bgt 100 lots at 2.50

Posted by ttgipoh > 2014-02-13 11:59 | Report Abuse

explosive earnings. daim zainuiddin is the ultimate owner.

Posted by ttgipoh > 2014-02-13 12:00 | Report Abuse

1.70 cash backing per share. capable mgt, grandfather's land bank, high probability for the share to go higher

Posted by ttgipoh > 2014-02-13 12:02 | Report Abuse

high net worth guys in Ipoh accumulated 4% of the share

Posted by lepeng85 > 2014-02-13 12:28 | Report Abuse

Down down down again, could down to RM2. Rich cash or rich landbank doesn't matter, what do matter is earning ability, without good earning result then don't expect on it will boom up. If company really think its company really undervalue, then why not share buy back?

Posted by lcng123 > 2014-02-13 14:50 | Report Abuse

you are right lepeng85, earning ability is important for the company. that's why some property companies who have rich landbank but low earning ability caused their share price do not move up. but not for plenitude. plenitude's previous quarter result Q1 net profit hits rm26.1mil, eps 9.7sen, do you think it doesn't have earning ability. its low cost landbank provide it's net earning margin more than 30%, almost the top among the property companies. plenitude going to launch more than rm700mil housing project this year and their hotel in penang was in operation since october last year.

Posted by lepeng85 > 2014-02-13 15:02 | Report Abuse

so what I believe is its coming quarter report should be very bad, it profitability not consistency. Its management people might all old folks, all are waiting retired.

Posted by lcng123 > 2014-02-13 15:44 | Report Abuse

if you are thinking plenitude is not a good company, why you still want to buy in at below rm2.00? why not you set your target price below rm1.00 or even lower?

Posted by Firebird2 > 2014-02-13 15:52 | Report Abuse

Am looking into this counter, meanwhile which hotel in Penang do they own? lcng can help me out? thx

Posted by lcng123 > 2014-02-13 22:16 | Report Abuse

the hotel's name is four points by sheraton located in tanjung bungah. visit the site : http://www.agoda.com/four-points-by-sheraton-penang/hotel/penang-my.html

Posted by Firebird2 > 2014-02-13 22:20 | Report Abuse

Thanks lcng123. Will study more abt this counter.

Posted by Firebird2 > 2014-02-13 22:21 | Report Abuse

If the price goes up, its good for you, if not, just add more