Haha Nemesis agree with u . Mk land must take in potential new blood for the group n also take in potential experience people into the management team .
80 mil tax issues unresolved...amount already due but appeal has been rejected by IRB...another big hassle and stumbling block for Mkland...If they really failed to appeal to IRB for the second time, then tis 80 mil tax will result in a one off big time annual financial loss for Mkland which should send it down to 0.15 Sen soon...Sell or Hold u need to decide!!!
High court and court of appeal rejected MKLand's application for judicial review on grounds of availability of alternative remedy via an appeal to the Special Commissioner of Income Tax which has been submitted by MKLand last June.
So in laymen terms, the court tak mahu campur tangan and wants MKLand to settle with IRB directly.
Hopefully Dato Esther Tan, a tax expert who joined the group last year can help to mitigate this RM80 million tax saga.
RM80 million is very significant as it is more than 1/3 of the market capitalization of MKLand. It will wipe out all the cash available of MKLand.
The government wants money. But the way they want get it is like killing the goose that lays the golden egg instead of just harvest the golden eggs. So desperate. The whole Malaysian business community is watching.
MKLand management must not get distracted by this tax issue. Life must go on. Like all other aggressive developers, they must continue to dish out new projects. The way to go now is to target the lower medium cost apartments. This sector is still badly needed by the market. It is still under served.
High end condominium market is already dead and will not revive for a few more years. No sane person will touch them unless it is a fire sale. If MKLand have a lot of hangover stocks, they could be better off working with ABnB to generate some money rather than stagnant.
Meanwhile all the shareholders of MKLand are slowly bleeding to death...
RM80mil is nothing to MKLAND which is in net cash position now. Besides, its 4000 over acres land crossing PERAK, DAMANSARA and SG BULOH these assets are worth more than 10x of the tax bill and 5x of its market cap.
The worst will happen to MKLAND from now is only RM80mil or 7cts per share. IF tax issue matter, conservative or risk adverse investor can enter MKLAND at RM0.13. Nothing to lose
Sell it before it drop to 0.15 soon...it is a matter of time as 80 mil will eat into Mkland cashflow n maybe more tax penalty will come tis year...Mkland is in real trouble with IRB now...
Nemesis I guess u r too free . Why don’t u sell all your share n buy back at 15 cts . People after buying share will expect it to drop so that he can buy more . Waiting is the key word for those buying share . So waiting for it to move up loh .
Haha waiting for it to go hollan...There are 2 negative factors that could send Mk down to below 0.15...1) chances of losing tat 80 mil tax issue with IRB is very high...2) it is the tax season again...Chances of Mk to get another tax fine penalty is high too since they sold land few times previous years...3) If Mkland MK failed to settle the 80 mil tax amount, I m sure IRB will halt Mkland business operation in Malaysia...4) How Mk will find tat 80 mil to settle the tax penalty is also another big question mark...5) IRB will surely find fault with Mkland again in the future since they are not cooperative with IRB to settle the tax amt....All tis will surely send Mkland to Hollan soon with immediate target price of 0.15...Sell before it is too late!!!
Mkland should settle tat 80 mil tax bill with IRB no point dragging it as they can't fight the IRB as they are the government authority...they have the final authority to seize and freeze any companies tat didn't comply with them...
Jolin: i think u dont understand about mkland at all. Mkland is tied with tun. If pakatan wins, then mkland might have a chance or else... . Mkland is having cashflow problem, they have no money to develop its lands.
haha nemesis that is why i ask u to dispose off all your share first. i personally also feel that those people (especially nemesis) who think of selling must start to sell now so that we can clear off all the weak share holder . Nemesis dont worry , someone will do the collection . this is an open market .
Just wonder how Datuk Kasi gonna exit Mkland since its share price has tumbled to all time low of 0.18...he still has about 16% stake wit the company...So what is next for Mkland? Already bottom OR 0.15 is coming...
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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....
nickyeo55
1,092 posts
Posted by nickyeo55 > 2018-03-01 02:39 | Report Abuse
Haha Nemesis agree with u . Mk land must take in potential new blood for the group n also take in potential experience people into the management team .