Eagle Vision Invesment

Dear Fellow Investors of i3 Forum,

 

Today MP Corp closed at the all the low of only 3 sen

 

With Total Paid up Capital of 287 million shares the Total Value of Mp Corp is now

 

287,000 x Rm30 = Rm8.610,000

 

or Rm8.61 Millions

 

SO FOR ONLY RM8.61 MILLIONS YOU CAN OWN THE ENTIRE COMPANY

 

The Main Trigger for This Total Panic Sell Down was the imminent suspension of MP Corp share trading on Monday June 25th – leading to suspense and uncertainty.

 

So many are selling in panic and fear.

It would be crazy to buy in the face of torrent selling.

AND BOUGHT I DID.  MY TONG SAMPAH GOT FALLEN MP CORP SHARES AT 4 Sen, 3.5 sen & 3 sen. AND I LOOK FORWARD TO BUY MORE TOMORROW

HAS CALVIN GONE BESERK OR MAD?

 

Let me tell you my reasons

 

1) The Debt of Mp Corp consists of Two Main Factors

a) RHB BANK of which Mp Corp owed about Rm145 Millions

b) AMANAH ANOTHER RM206 MILLIONS IN PAYABLES

 

SO THE COMBINED DEBT OWED IS RM351 MILLIONS

 

NOW RHB HAS SUED & CAUSED MP CORP TO BE SUSPENDED BY BURSA FOR FAILING TO PAY UP

 

BUT PLEASE FOLLOW CALVIN IF YOU WILL AS WE LOOK INTO THE ANNUAL REPORT OF MP CORP YEAR 2017

 

IT STATED THAT MP CORP HAS

 

1) WISMA MPI VALUED AT RM256 MILLIONS

2) 485 LANDS IN TAMAN NUSA DAMAI WITH BOOK VALUE OF RM234,337,000 or RM234 MILLIONS

 

SO ON SURFACE PERUSAL

 

THE COMBINED ASSET VALUE OF MP CORP IS RM256 Mil & Rm234 MIL

 

OR 490 MILLIONS

 

SO DEBT TO EQUITY IS ALMOST 71%

 

IF COURT AUCTION AT FORCE SALE VALUE WILL NOT BE  ENOUGH TO COVER THE DEBT. THEN THERE WON’T BE ANYTHING LEFT FOR SHAREHOLDERS?

 

LET US SEE

 

485 ACRES LAND VALUED AT RM234 MILLIONS

 

HOW MUCH PSF?

 

SO 234,337,000 divides by 485 ACRES  = RM483,169 PSF

 

HOW MUCH PSF?

 

SO DIVIDES 483,169 by 43,560 ft

 

= RM11.09 PSF

 

IS THAT THE REAL BOOK VALUE OF THOSE LANDS

 

TO SEE ITS REAL VALUE NOW GO TO SEE 2017 ANNUAL REPORT OF MP CORP

 

7. Land Held for Property Development (Cont’d)

 

Group 2017 ………………………………

Analysed as: Freehold land, at cost 102,627,000

Development expenditure ……………..110,428,000

 

Total Book Value ………………………….213,055,000

 

NOW READ VERY CAREFULLY

 

THE REAL COST OF THE 485 ACRES LAND IS RM102.627 MILLIONS

 

AND WHAT IS DEVELOPMENT EXPENDITURE?

IT MEANS THAT MP CORP HAS DONE

LANDSCAPING: CUT UNDULATING HILL, REMOVE STONES AND ROCKS & DEBRIS FROM THE LAND

DRAINAGE: LAYING OF UNDERGROUND DRAINPIPES & OTHER AVENUE FOR CONNECTING NECESSARY UNTILITIES

(DAIMAN BOSS TOLD US THAT IN TODAY’S COST LANDSCAPING IS NO LESS THAN RM20 PSF FOR RAW JUNGLE LANDS)

 

NOW LET’S GET A BREAK DOWN OF MP CORP LAND COST & DEVELOPMENT EXPENDITURE COST

 

COST OF LAND IS RM102,627,000 for 485 Acres

So Per Acre Cost is RM211,602

PSF COST? = RM4.85 PSF (YES THIS IS THE COST OF LAND ALONE)

 

NOW FOR LANDSCAPING COST

IT IS MORE THAN LAND PURCHASE COST AT RM110,428,000

HOW MUCH PER ACRE = RM227,686

PSF COST FOR LANDSCAPE = RM5.22

 

SO THE LAND COST IS RM4.85 PSF

AND THE LANDSCAPING COST RM5.22

NOW

BPURI HAS A JV WITH MP CORP

(ii) On 26 May 2015, LHRD entered into a Joint Development Agreement (“JDA”) with Bina Puri Properties Sdn. Bhd. (“BPPSB”). LHRD, as a land owner will grant BPPSB, the sole and exclusive rights to carry out a housing development project on the land with total area of 1,063,299.55 square feet.

As a return, LHRD is entitled to RM21,265,991 as consideration together with an agreed proportion of profit sharing. As at 30 June 2017, the condition precedents of the JDA have yet to be fulfilled.

 

BPURI HAS TAKEN 1,063,299 square feet of Land for PURI RESIDENCE DEVELOPMENT

MP CORP Sale Price is Rm21,265,991

 

How much PSF?

 

RM21,265,991 divides by 1,063,299 square feet

 

=RM20 PSF

(NOT BOOK VALUE OF RM11.09. Hohoho!)

AND FROM THE JV BPURI WILL PAY MP CORP 20% OF THE PROFIT!!

Today I phoned William (of BPuri). William said 80% of the more than 400 houses in Puri Residence have been Sold!

 

Another Developer called Magligai will be launching 160 Houses at Rm500K each in Tmn Nusa Damai

They bought these 16 acres land at above Rm40 psf

See

(iv) On 27 February 2017, TBBM and LHRD entered into a non-binding term sheet with Chun Fu Development Sdn. Bhd. (“Chun Fu”) for a joint development over 13 pieces of lands in Mukim Plentong, Johor Bahru. The term sheet represents the preliminary mutual understanding of parties regarding the proposed transaction and is subject to terms to be finalised in the definitive transactional agreements for the proposed transaction. The term sheet does not create any legally binding obligations on any parties except in respect of exclusivity and confidentiality provisions.

 

NOW THAT MEANS THAT THE LOWEST PSF FOR NUSA DAMAI LANDS IS RM20 PSF TO RM40PSF (Highest)

If we take the lowest denominator of just Rm20 psf

Then 20x43560x485 = Rm422 Millions

Plus Rm256 Millions from Wisma MPI will be Rm678 Millions

Minus Debt of RM351 Millions will have a safe Rm327 Millions

 

What if there is a Short fall from Court Auction Sale with all its attending fees

Ok cut Rm100K from each Wisma MPI & 485 Acres Land

 

Then

Rm156 Millions

and Rm322 Milllions

So total will be Rm478 Millions.

Now less Rm351 Millions debt

The Residual Value is Rm127 Millions

NOW SURPLUS DISTRIBUTED BACK TO SHAREHOLDERS IN LIQUIDATION BY OA (OFFICIAL ASSIGNEE)

 

is Rm127 Millions divided by 287  millions shares of Paid Up Capiital

= 44 sen per share

That means that at 3 sen closing price today all Shareholders will get a surplus (in liquidation) of 41 sen each

That will be a 1,000% gain?

 

ARE THESE FACTS OR COOKED UP STORY?

 

TELL ALL AUDITORS AND ACCOUNTANTS TO CHECK AND COUNTER CHECK

 

WARMEST REGARDS

 

Calvin Tan Research

Singapore

 

Please buy or sell according to your own discretion