Start from Apr2022 Suria earning will reduce due to 3.4 million tax penalty !!!
It was further resolved that the LHDNM be and is hereby authorised to utilise the RPGT of RM25,838,520.65 which the Company had paid to the LHDNM in 2015 for year assessment 2013 in respect of the First Transaction, to be discharged by LHDNM and to be set-off against the Initial Payment of RM18,638,520.65 on or before 31 March 2021 as well as the twelve (12) instalments of RM600,000.00 each month for the months of April 2021 to March 2022.
The Company will only commence the monthly cash instalment of RM1,162,000.00 from April 2022 until February 2024 with final cash instalment of RM1,163,077.10 in March 2024.
anyone know will SURIA still own Jesselton Quay after the completion of the project? like how ASIAPAC own Imago Mall? or SURIA just responsible to build Jesselton Quay and will hand it over it's rightful owner after it's completion?
@StartOfTheBull true, hope Suria will also get privatized like MMC, or maybe Syed Moktar can offer take over again. Not being greedy, RM2 just like MMC will be good enough
Not only was revised timeline for payout to suria is set, there are additional safeguards in the form of BG and 1st party legal charge over a piece of land owned by SBC to securre SURIA's interest..
not make sense to sell at this time when good QR just released and price have been low and flat for a while. merket sentiment is also good right now. just my 2 cents
love this counter so much. so easy to play. enter when good QR and wait it to up only haha. QR bad just leave for a while and reenter when it's price is just low enough for next QR. anytime privatization news is bonus chance for jackpot
Based on the following considerations: 1. Improving financial performance following the reopening; 2. Reactivation and potential monetization of Jesselton Quay project; 3. Renewal of port concession by another 30 years (and this is a BIG ONE); and 4. Potential take-over offer by SM (this is an old news but its possibility cannot be underestimated).
Suria holds a lot of potential in it. Apa lagi mau? :P
3.5.11 The concession period for the business of the Port Undertakings shall be a period of thirty (30) years commencing on the Takeover Date ending on the expiry of the term of the concession (“Concession Period”). SPSB shall notify the State and SPA if it intends to extend the concession for a further term of thirty (30) years and if there shall then be no subsisting breach of SPSB’s obligations, the concession may be extended upon terms to be mutually agreed at that time. An annual concession fee of RM3.1 million and annual licence fee of RM50,000 are payable in advance within the first month of each concession year.
Why are they selling at every opportunity only for one or two sen gain with such an undervalued stock? The way window dressing also very weird, only 100 units per bid.
For the the first 30 years, SPSB committed to invest Rm1.3 billion over the 30 years( average of Rm43 millions per annum) and now, short of Rm211 millions over the next 12 years to fulfill the requirement. Extension of another 30 years, will require to pay concession and licence fee of Rm3.15 millions. Based on annual profit of Rm50 millions, and there will be a lot of room to increase paying out dividend in the future.(Now 35% of annual profit)
The existing port facilities at KK town will be dislocated to Spangar Bay and the 29 acres of land will be reverted to SPSB for development. The premium of the land had been paid 50% to Land Survey of Sabah(Rm24 millions) and the existing jetty will be converted to Cruise Terminal. The value of the land behind the terminal will be worth at least Rm50 Millions per acre. The development of the land will only come true after 2025
Posted by SincereStock > 2 hours ago | Report Abuse
@StartOfTheBull stop being negative la, no patience? not happy here just sell and leave.. ********* I bought it before the latest QR and I have no intention to sell it unless it reaches above my target price. It is way too cheap now. What I mentioned earlier I see it as true.
The Port business will make about Rm50 Millions per annum and with the properties development come in, the profit will be increased tremendously in the future. I will keep this shares for dividend now and share price will increase significately in the future provided the company will not be privatised.
Actually I meant if when it is overpriced. ********** SincereStock
1,363 posts
Posted by SincereStock > 2 hours ago | Report Abuse
@StartOfTheBull stop being negative la, no patience? not happy here just sell and leave.. ********* I bought it before the latest QR and I have no intention to sell it unless it reaches above my target price. It is way too cheap now. What I mentioned earlier I see it as true.
10 minutes ago
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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....
snowball2000
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Posted by snowball2000 > 2022-05-05 09:45 | Report Abuse
Trading halt? What is happening???