Eagle Vision Invesment

Once upon a time in Johor or Iskandar . Tebrau Teguh was 10 sen, Focal Aims was 11 sen and Mp Corp was 35 sen.

 

The Lands of Focal Aims was in Taman Kota Masai. The Lands of Tebrau in Bandar Permas Jaya & the Lands of MP Corp is in Taman Nusa Damai.

 

Of the three Focal Aims’ Lands were further at the fringe of Iskandar. Taman Nusa Damai is located just between Bandar Sri Alam and Taman Scientex while the Lands of Tebrau Teguh are more prime in Permas Jaya.

 

And of the three Taman Nusa Damai has the most developed Lands with good landscaping. Next is Taman Kota Masai which looked run down. Tebrau Teguh lands looked like wild secondary wasteland with wild vegetation.

Then Ecoworld took over Focal Aims at Rm1.40. At that news Focal Aims was chased up. And chased higher up after name changed to Ecoworld… Price surged over Rm4.00 (4,000) and split! WOW!

Physically Ecoworld has transformed Taman Kota Masai into a new township. But latest sales already reflected its overvaluation.

The Maddening Crowd has chased the price of Ecoworld far beyond its true value. And those who bought at peak prices are now suffering withdrawals like a drug addict?

 

Same thing happened to Tebrau Teguh what IWCity Took Over with purported news of securing Bandar Malaysia project. WOW! Tebrau jumped over Rm3.00 (up more than 3,000%) on that news.

Alas! The JV was called off and IWcity now crashed back below 60 sen! So those who chased Tebrau over Rm3.00 have lost 80% of their Capital! Oh boy!

 

 

 

As for Mp Corp its shares languished and crashed to a low of 8.5 sen now. How come like that?

Well. It was due to 2 reasons

1) The JV with Amanah fell through & Amanah wanted its monies back. They started lawsuits.

2) Then there was borrowings from RHB Bank. And RHB is also sueing for litigations

Meanwhile the purported JV of Aptec fell out. As well as the sale of Wisma MPI aborted Mp Corp looks like in dire straights.

So while Focal Aims and Tebrau were courted and chased up the sky!  Mp Corp is avoided like a pariah & price continued to crash and crash.

With s many lawsuits after lawsuits & price now totally Bombed Out! How come Calvin is interested to write about this failed lapsap (rubbish)?

AHA!

Let Calvin tell you more about Mp Corp

 

Please stay tuned for more:

 

to be continued……

 

See their  3 Price Charts (5 Years)

 

 

ECOWORLD (Price Crossed Rm4.00 & Split)

 

ECO WORLD DEVELOPMENT GROUP BERHAD [S] (8206)

Company Website
Annual Report
General Meetings

---

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

IWCITY (Formerly Tebrau Teguh)

ISKANDAR WATERFRONT CITY BERHAD [S] (1589)

Company Website
Annual Report
General Meetings

---

 

OK Now Let Us Do 4 Things

 

1st. Go into the Accounts & AR of Mp Corp

2nd. Check up on the Macro Overview of Iskandar

3rd. Look closer to the actual status of Mp Corp current developments in Taman Nusa Damai

4th. Summarize the Pros & Cons of Mp Corp’s future

 

 

1) Now Let Us Look Deeper Into The Balance Sheet and Assets of Mp Corp.

Please refer to Latest QR & Also the Annual Report

 

Currency: Malaysian Ringgit (MYR)

SUMMARY OF KEY FINANCIAL INFORMATION 31 Mar 2018

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31 Mar 2018	31 Mar 2017	31 Mar 2018	31 Mar 2017
		$$’000	$$’000	$$’000	$$’000
		1	Revenue	1,532	1,762	4,627	6,117
2	Profit/(loss) before tax	-4,809	-4,185	-14,044	-12,424
3	Profit/(loss) for the period	-4,782	-4,185	-14,044	-12,424
4	Profit/(loss) attributable to ordinary equity holders of the parent	-4,782	-4,185	-14,044	-12,424
5	Basic earnings/(loss) per share (Subunit)	-1.66	-1.45	-4.88	-4.32
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	0.4300		0.4800

Latest table of contents for Mp Corp shows only Rm1.5 millions in Revenue. Almost little or no business.

Loss after tax is Rm4.8 millions or about  -1.66 sen.

This will put off any accountant or analyst straight away! Huhu!

 

But look at the NTA

 

It is still at 43 sen

 

So at 8.5 sen with NTA of 43 sen Mp Corp is selling at a Huge Discount of 81% to NTA. No one would dare to buy Mp Corp at this juncture I may say except Walter Schloss?

And Calvintaneng!!!

 

Why?

 

OK

 

LET US LOOK DEEPER

 

 

 

 

 

 

 

From Latest QR

Trade and other payables  (to Amanah & others)    RM206,823,000

Bank borrowings (mostly from RHB Bank)…………..RM 145,645,000

 

SO TOTAL OUTSTANDING DEBT IS  ABOUT RM352 MILLIONS

Looks gruesome?

 

And Its Freehold land and buildings………….RM256,000,000

The Above is WISMA MPI in KL

 

Land held for property development …………RM212,978,000

Remaining Lands in Taman Nusa Damai

 

TOTAL OUTSTANDING ASSET VALUE IS RM468 MILLIONS

 

ASSETS RM468 MILLIONS WHILE DEBT IS RM352 MILLIONS

So on superficial surfacing reading the debt is 75% of Assets?

Can Mp Corp continues to be a going concern?

Hence the sell down?

 

NO!

 

Let’s go dig deeper into MP Corp Annual Report and “SEE”!

 

 

 

Properties held by the group

Freehold  19 Level office tower  (Wisma MPI)………………………………..RM 256,000,000

 

Remaining land & Development in the Mukim Plentong, District of Johore Bahru, Johor Darul Takzim..

 

485 Acres (Freehold)…………………………………………………………………..RM234,337,000

 

The Value of Wisma MPI at Rm256 Millions is approximate more or less.

The 485 Acres Lands in Taman Nusa Damai?

The Book Value is RM234.337 Millions?

Let’s calculate its psf value

 

So 485 x 43,560 sq ft = 21,126,600 sq ft

Now for psf divides 234,337,000 by 21,126,600

= Rm11.09 psf

 

RM11.09 psf for Freehold Landscape done lands in Taman Nusa Damai?

You must be joking?

And more ridiculous if you look very closer at those Super Prime Remaining Jewel Lands of “APTEX”, LakeHill & other MainRoad Frontage Commercial ones?

For a simple comparison… the asking price for Belimbing areas in Taman Kota Masai lands there by Ecoworld now is Rm45 psf.

And Belimbing Lands of Ecoworld are nothing compared to the more Superior Locations of Taman Nusa Damai Lands!!

 

Let’s move on.

 

2) THERE IS A HUGE DEMAND FOR LANDED HOUSES PRICED RM500K or Below in Iskandar

Unlike Highrise Condos which are in huge glut there is not enough Affordable Landed Houses for Sale in Iskandar.

This shows up by

1) Long queue of 7 days and 7 nights for Single Storey houses in Taman Daya by Keck Seng. After queueing for 7 days and nigts all the houses were snapped on the day of sale.

 

2) Long overnight queue for Single Storey houses at Rm300,800 in Taman Pelangi Indah by Pelangi Bhd. Within 1st hour of sales all non bumi lots were sold out.

 

Today both Keck Seng & Pelangi Bhd refuse to build any more single storey houses on their remaining pockets of precious lands.

 

3) In Mutiara Rini by Boustead long queues formed overnight for their 2 Storey houses priced at Rm550,000 each. All snapped up in no time.

 

SO THE MACRO PICTURE IS THIS.

HIGH RISE IN GLUT AND GOT VERY TEPID SALES WHILE AFFORDABLE HOUSES PRICED RM500K ARE IN HOT DEMAND!

Got it?

 

3) NOW LET’S TAKE A CLOSER LOOK AT BANDAR NUSA DAMAI

The 6 lanes Highway from Bandar Sri Alam to Taman Nusa Damai is now very busy. Heavy traffic pass here to go to Nusa Damai, Scientex, Kota Masai, Desaru & Pengerang!

 

So 2 Developers Have Bought Lands or Go JV with Mp Corp

 

1) PURI RESDENCE (400 HOUSES (20x60ft) Priced from Rm488K

More than 50% Sold Already!!

 

See

Bina Puri, MPCorp to build RM240 mil project

KUALA LUMPUR (May 27): Bina Puri Holdings Bhd is jointly developing a RM204 million residential development in Johor with Malaysia Pacific Corp Bhd (MPCorp), according to a report by The Edge Financial Daily today.

The development will consist of 412 units of two-storey terraced houses on 24.41 acres (9.87ha) of land in LakeHill Resort City, a township near Masai.

In a filing with Bursa Malaysia yesterday, Bina Puri said its wholly-owned subsidiary Bina Puri Properties Sdn Bhd has signed a joint development agreement with MPCorp’s wholly-owned unit LakeHill Resort Development Sdn Bhd, which is the landowner, for the proposed project.

Bina Puri said the proposed project is Phase 1A1 of Taman Nusa Damai — part of LakeHill Resort City. The units will feature built-ups ranging from 1,700 sq ft to 1,800 sq ft.

Bina Puri group executive director Matthew Tee said the joint development is a modest investment that will herald a bigger role for the group in property development in this region that is a stone’s throw from Singapore.

“Iskandar Malaysia is fast becoming the economic powerhouse of the country. The group’s long-term plan is to continue to position itself to play an active part and carve out a stake in this economic corridor,” he said.

 

PURI RESIDENCE IS LOCATED ON A HILL OPPOSITE A MOSQUE/SCHOOL IN THE HEART OF NUSA DAMAI

And the Sole Agent PREMIER PLUS Has Sold More Than 50% of PURI RESIDENCE.

It is a gated and guarded community with swimming pool & Club House

Go and book one with PREMIER PLUS in JB SENTRAL today!

See

 

Premier Plus | Trusted Property Listing

 

And the Sales Agent is TOPHILLS REALTY IN ISKANDAI

 

 

NOW THESE TWO PIECES OF LANDS SOLD TO BPURI & MAGLIGAI ARE ONLY 2ND CLASS LANDS IN NUSA DAMAI

 

THE VERY VERY PRIME “JEWELS” IN NUSA DAMAI ARE THESE LANDS

 

1) THOSE MAIN ROAD FRONTAGE LANDS

2) “APTEX” LANDS (ALL COMMERCIAL)

3) LAKEHILL LANDS WITH A 25 ACRES PURE PRISTINE LAKE

 

As of now there is a barrier blocking entry into LakeHill Zone

 

NOW Let’s Take Rm50 psf as an average benchmark for the 485 acres of Taman Nusa Damai

 

So 485 x 43,560 x Rm50 =

 

Rm1,056,330,000?

 

AM I SEEING WRONGLY?

 

THAT’S OVER RM1 BILLIONS!!!

 

WAHAHA!!

 

PLUS RM256 MILLIONS FROM WISMA MPI

 

= RM1.31 BILLIONS!!!   WUHUHU!!!

 

HOW COME ALL HAD MISSED?

 

WARMEST REGARDS

 

Calvin Tan Research

Singapore

 

Oh! Yes!

No. 4.   I almost forgot

 

1st. Go into the Accounts & AR of Mp Corp

2nd. Check up on the Macro Overview of Iskandar

3rd. Look closer to the actual status of Mp Corp current developments in Taman Nusa Damai

4th. Summarize the Pros & Cons of Mp Corp’s future

 

 

THE CURRENT STATUS IS CLOUDED BY LAWSUITS

BUT WHAT IS MERE DEBT OF LESS THAN RM400K WHEN MP CORP IS BACKED BY SOLID ASSETS OF RM1.3 BILLIONS!!

 

SO LET MANAGEMENT SORT OUT THEIR SHORT TERM PROBLEMS

 

MONIES ARE POURING IN FROM BPURI, MAGLIGAI AND OTHER POCKETS OF LAND SALES

 

NOTE

 

WHILE FOCAL AIMS SOLD OUT 100% TO ECOWORLD

AND TEBRAU SOLD TO IWCITY

MP CORP IS ALSO SELLING…. SELLING IN PARCELS AFTER PRECIOUS PARCELS TO SEVERAL ENTITIES!!

 

DON’T BE SURPRISED THAT SOME BIG TIMER OFFERS TO TAKE MP CORP PRIVATE AT 70

 

IF FOCAL AIMS COULD BE PRIVATISED AT RM1.40 WHY NOT MP CORP AT 70 SEN (50% OF FOCAL)

 

JUST THINK?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SEE HOW MAD EUPHORIA CHASED UP IWCITY LIKE A BALLASTIC MISSILE AND THE CRASHED?

 

 

MP CORP

 

MALAYSIA PACIFIC CORPORATION BERHAD (6548)

Company Website
Annual Report
General Meetings

---