Posted by damiantreez > 2014-08-28 18:16 | Report Abuse

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1724613

Posted by nemesis > 2014-08-28 18:20 | Report Abuse

There is one thing i discover about Mkland is tat everytime the gain fm its land sale they won't show tat as profit in the quartely result...SO WHERE DID THE PROFIT DISAPPEARED? i found tat other property co when they sold land, the gains will be reflected as profit in its quartely result...BUT not MKLAND...So where did the money go????? Guys have u all noticed this??? it sounds fishy right...Even previous land sale to Empire Mammoth last time the huge gain also never reflected as profit correct me if a i m wrong....So where is the profits from their land sale???...I am very confused and suspicious!!!

Posted by nickyeo55 > 2014-08-28 21:23 | Report Abuse

Mr Nemesis
U R one of the substantial share holder, can u give TAN SRI DATUK ( DR)HAJI MUSTAPHA KAMAL a call to clarify. During last AGM he told us that share holder can call him.
Any way if what u notice is true the management have to give an answer to it.

Posted by Lewis Lee > 2014-08-28 22:09 | Report Abuse

Nemesis, go and read carefully 'note to account' para 18, it says the higher profit in property development segment is mainly due to disposal of investment property ! It explained the gain from disposal of the land at Damansara !
In fact their report not very transparent, trying to lump everything under 'property development' profit that's why you have no way to trace how much actually gained from selling developed house units and how much gained from selling land !

Posted by Lewis Lee > 2014-08-28 22:20 | Report Abuse

As my only analysis on this company is :- they will in fact make more profit by just retrenching all their idle inefficient staffs, cutting all unnecessary costs and concentrating on selling their lands piece by piece !!
If they start launching big projects , I will start to worry they might eventually screw up in late delivery & bad quality issues and eat into profit ++ financial charges and ending up at big loss !
One sentence say all :- They don't have the expert or personnel in property development !
Unless they head hunt some good property development experts like Liew Kee Sin or the like ... Don't bet on them to deliver good profit in property development !
Or to joint venture with other shrewd developers to develop their land !
That's what I would like to advise Tan Sri Mustapha !
I bought the company share is not because of their development skills but because of their strategic land bank !

Posted by nickyeo55 > 2014-08-28 22:23 | Report Abuse

So Mr Lee, they should disclose the application for this fund received from the sales of land. Might be they use it to reduce Bank OD and make lump sum payment to loan

Posted by Lewis Lee > 2014-08-28 22:26 | Report Abuse

I suspect if they did not sell investment property, their property development segment will produce LOSS ! Yes ! They are that bad ! Don't forget they still have some LAD issues not yet settled (arising from projects undertaken 5-10 years ago !)

Posted by nickyeo55 > 2014-08-28 22:27 | Report Abuse

Mr Lee agree with U. If not because of the co huge land bank i also will not purchase this counter.

Posted by MSTrader > 2014-08-28 22:34 | Report Abuse

FA is nice..collect b4 late.

Posted by nemesis > 2014-08-28 23:25 | Report Abuse

i agree with you Lewis...If he is like Tan Sri Liew of Spsetia, Mkland would ve been very successful and growing larger in size...BUT more than 80% of their land is in Perak...Isn't tat a remote area??? So is their land in Perak valuable??? What attracts me is tat Mkland is at Net Cash Position of 110 million...Not many developers can achieve that....

Posted by bigcat > 2014-08-29 07:00 | Report Abuse

I still feel it's collecting time. I just collected more at 0.50 yesterday.

Posted by damiantreez > 2014-08-29 08:56 | Report Abuse

we'll see for today. good quarter report should attract more investors. hope ade shark join.

Posted by pbm8682 > 2014-08-29 09:15 | Report Abuse

can't wait to see what is going to happen today....

Posted by damiantreez > 2014-08-29 10:06 | Report Abuse

did kasi dump again?

Posted by Shacks > 2014-08-29 10:11 | Report Abuse

This counter just doesnt make any sense...

Posted by damiantreez > 2014-08-29 10:31 | Report Abuse

market not good today. Ukraine tension sentiment affect global market. All red. so be patient.

Posted by pbm8682 > 2014-08-29 10:44 | Report Abuse

ukraine again... arghh!!!!

Posted by Shacks > 2014-08-29 11:01 | Report Abuse

Ukraine or no ukraine.... this counter oso same one.

Posted by xfighter > 2014-08-29 11:13 | Report Abuse

everything are positive except the price .. it really does not make sense

Posted by kktom > 2014-08-29 13:25 | Report Abuse

I totally agreed with you, Lewis.If it iwas not the land bank in Damansara,I wont have tis counter in my book.Mkland had a bad name on development projects.

Posted by bigcat > 2014-08-29 14:25 | Report Abuse

Time to buy...be patient...We can expect more cooling measures, such as stamp duties and real property gains tax increase, in the upcoming Oct Budget. But let's not be frightened by all these things. In Malaysia, there is no property bubble," At 0.60 it is still a big discount.

Posted by damiantreez > 2014-08-29 15:40 | Report Abuse

this counter shud go up until 0.64 to be at fair value. at this price, it is still massively undervalued.

Posted by Shacks > 2014-08-29 17:02 | Report Abuse

what is the catalyst that will trigger this stock to reach 0.60 at this moment???

Posted by damiantreez > 2014-08-29 17:20 | Report Abuse

New projects to be unveiled include 2 condominium projects in Damansara Damai and another two in Damansara Perdana. As indicated earlier, MK Land is hopeful to unveil the mid-range condominium projects (16 acres) at Damansara Damai by mid-CY2015, which are then followed by the condominium projects (20 acres) at Damansara Perdana. Meanwhile, near term earnings will be driven by selling the remaining semi-D units at Rafflesia (c.200 units remaining valued at RM700m). With Metropolitan Sq condos almost sold out, and the remaining unsold units comprising mostly Rafflesia semi-Ds which are slow moving, the timing of the project launches is essential to maintain its earnings.

Posted by damiantreez > 2014-08-29 17:21 | Report Abuse

Source from Public Research. TP at 0.80. http://klse.i3investor.com/blogs/PublicInvest/58974.jsp

Posted by RM1DivStock > 2014-08-29 18:36 | Report Abuse

Seems like only public bank that is dare enough to put a tp of rm0.80 at this moment.

Posted by nemesis > 2014-08-29 19:47 | Report Abuse

Hey between Kenanga and Publicinvest report, which do you think is more accurate??? Kenanga indicated RNAV of 1.28 while Publicinvest rated RNAV of 1.67 for Mkland...Why such a big gap??? So which sud we trust??????????? Publicinvest TP is 0.80 while Kenanga TP is just 0.64....SO, which is the truth?????????

Posted by nemesis > 2014-08-29 19:48 | Report Abuse

Lewis will u buy more if it drop somemore next week???

Posted by RM1DivStock > 2014-08-29 21:34 | Report Abuse

Every investment bank has their own analysis, we are not in a perfect world that all investor or investment bank using the same formulae and estimation.

Who to believe depends on ur own judgement ！

Posted by RM1DivStock > 2014-08-29 21:35 | Report Abuse

1 and only 1 reason I buy this share is because of its land bank. Nothing more

Posted by Lewis Lee > 2014-08-29 21:38 | Report Abuse

Yes, sure, it is still very under value in terms of NAV !
I think Kenanga is more conservative in valuing their land value.. Even Public Bank is very conservative in getting the RNAV !
I remember I read in somewhere in 2007 CIMB already give their RNAV at 2.00 ( even before the property boom !)
What is their land bank market price ? I remember they just sold their Damansara land at 200 psf ! So help me to do the math Nemesis !

"MK Land's main landbank include 170 acres of undeveloped net land in Damansara Perdana and 55acres in Setiawangsa, Kuala Lumpur. On our estimates, these plots of land alone should be worth at least RM1.6bn as compared to its market cap of RM360m."

According to their 2013 annual report :-
Total land they have about 5000 acres in whole Malaysia, this is not including office suite, Bukit Merah Themepark & hotel, service apartment, Bukit Jana Gold Club in Taiping and shop lots. If you try to add up all the land and property they have, total is about 5806 acres.
Wow!! Read Carefully is about 5806 acres. If they not interested to develop some of the land, they might just sell it with good price!!! So, grab your calculator and do your own calculation now.

In fact, to be honest, I lost count !! The true value is too astronomical for me to grab !
One thing for sure, it is f*cking under value until I even can't believe whether there is any typing error there !! Hahaha

Posted by Lewis Lee > 2014-08-29 21:41 | Report Abuse

To tell you all frankly, I have been scratching my balls all these years wondering why the share price so under value vis-a-vis it's RNAV !

Posted by nickyeo55 > 2014-08-29 21:48 | Report Abuse

haha so Mr Lee is $4 a very fair value?
Try to do a bit of calculation then can find up.

Posted by nemesis > 2014-08-30 02:03 | Report Abuse

I believe it is worth RNAV at least 1.80...i believe we sud also calculates its investment properties like its Menara Mustapha Kamal, Bukit Merah, Blue Lagoon and Taiping Golf club and also its Belum Orang Asli Forest all these sud be revalued also right apart fm its huge landbank...My calculation is above 1.80 its RNAV...The only setback is tat tis company very lousy in making profit due to poor management...Other property players prosper but not Mkland...

Posted by pbm8682 > 2014-08-30 09:24 | Report Abuse

i think.... u guys need to attend the next AGM... so many questions to ask... maybe bcoz so much money invested in mkland.... i guess

Posted by nickyeo55 > 2014-08-30 10:41 | Report Abuse

Can we have any volunteer in this forum to collect all sort of 'unclear' question and ask the management during the next AGM?
I guess Mr Lewis Lee or Mr Nemesis can help

Posted by nemesis > 2014-08-30 11:43 | Report Abuse

I will surely attend their AGM meeting and interview Mustapha personally and come back report to you all...And i am inviting you Mr Lewis to come along with me...

Posted by Lewis Lee > 2014-08-30 12:28 | Report Abuse

If I am not mistaken, Mustapha and Kasi do not attend AGM anymore, they left it to their CEO Lau Shu Chuan to shield all bullets from angry minority and press !!
As you know lah... He will paint the prettiest picture in AGM, such as good prospect lah, RNAV is very high lah ( I think he himself value it at 2.00, according to my google search ) ... Multi billions project to be launched next 5 years la ...
I am just a small fly holding 100 lots, Nemesis as a big minority shareholder shall represent us and go there hentam the management kuat kuat !! I fully support you ! Hahaha

Posted by nickyeo55 > 2014-08-30 12:50 | Report Abuse

Mr Lewis how do u know that they r not attending AGM anymore ? Anyway can always call him . He will answer or call back . Haha his promise during last AGM.
Always empty promise ?

Posted by Lewis Lee > 2014-08-30 13:11 | Report Abuse

I check the past few AGM, Mustapha & Kasi were not present.. Kasi sure dare not attend lah ... He already kena kao kao from minority here already !!

Posted by nickyeo55 > 2014-08-30 14:20 | Report Abuse

Mr Lee both of them attended the last year AGM . I guess u r not there

Posted by bigcat > 2014-09-01 11:19 | Report Abuse

MKland stood firm even when Asian equity markets are expected to open lower on the final trading day of the week on concerns of a worsening situation in Ukraine and ahead of a raft of Japanese data. With Malaysia 2015 budget just round the corner, the price will go up after the 2015 budget result is published.

Posted by nickyeo55 > 2014-09-01 13:53 | Report Abuse

Hai Mr bigcat sad lah I have to dispose off all my share this month.
Anyway how do u know that this counter will go up instead of going down after the budget ?

Posted by bigcat > 2014-09-01 15:48 | Report Abuse

Nick, Let's throw back the question to you. Do you have any good reason that it should fall? I cannot find any reasons for the price to go down but all the logics that it should be up. That's why I collected MKland last week. See the 2014 report? Compare last year and now.
Net profit for the period (RM'000)
64,819
40,345
Weighted average no. of ordinary shares in issue ('000)
1,204,590
1,204,590
Basic earnings per share (sen)
5.38
3.35

Posted by nickyeo55 > 2014-09-01 21:05 | Report Abuse

haha i didnt say that the share price will be going down.
i believe it will go up and i will sell all my share if it goes up this month.

Posted by happyman > 2014-09-02 09:54 | Report Abuse

i doubt they can easily sell the land at Ipoh , but another way to go about it would be to revalue the land ,n get analyst to write about it !!!

Posted by pbm8682 > 2014-09-02 11:00 | Report Abuse

still not moving.... can someone get any big boy @ big institution to jump in?!

Posted by bigcat > 2014-09-02 11:31 | Report Abuse

The 2015 Budget was crucial since it was the final budget under the 10th Malaysia Plan (10MP), which would provide allocations for the remaining programs and projects under the plan.

Posted by bigcat > 2014-09-02 11:35 | Report Abuse

Nick, Collect if you can. And wait and see the result you expects after 10th Oct 2014.By that time, maybe you refused to sell! LOL..

Posted by nickyeo55 > 2014-09-02 11:45 | Report Abuse

TQ Mr bigcat. i thought all the time market fall after the budget