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Stocks With Momentum: Mulpha Land
by Cals Wed 11 Mar 2015, 03:32
Stocks With Momentum: Mulpha Land
By theedgemarkets.com / theedgemarkets.com | March 10, 2015 : 10:32 AM MYT
[size=14]Mulpha Land Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) (+ve)
MULPHA Land (fundamental: 1.3/3; valuation: 2.4/3) rose 5.5 sen or 11.1% to all-time high at 55 sen over the past week. Last Friday, it received a mandatory take-over offer from entrepreneur Fakhri Yassin to acquire the remaining shares for 49.7 sen per share.
The unconditional take-over offer was triggered with the exercise of a call option to acquire 75 million shares, resulting in Fakhri Yassin and related parties holding 50.4% of Mulpha Land. The offeror intends to maintain its listing status.
Mulpha Land, the property arm of Mulpha International ([You must be registered and logged in to see this image.] Financial Dashboard), has development projects in the Klang Valley, Johor, Penang and Kedah. For 2014, revenue dipped 4.4% y-o-y to RM45.1 million while pre-tax profit dropped 30.6% to RM8.2 million, mainly due to an impairment loss of RM7.6 million on development lands.
Net gearing ratio was relatively high at 72.8%. The stock trades at a 12-month trailing P/E of 13.1 times and 0.89 times its book value.
[You must be registered and logged in to see this image.]
This article first appeared in The Edge Financial Daily, on March 10, 2015.
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By theedgemarkets.com / theedgemarkets.com | March 10, 2015 : 10:32 AM MYT
[size=14]Mulpha Land Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) (+ve)
MULPHA Land (fundamental: 1.3/3; valuation: 2.4/3) rose 5.5 sen or 11.1% to all-time high at 55 sen over the past week. Last Friday, it received a mandatory take-over offer from entrepreneur Fakhri Yassin to acquire the remaining shares for 49.7 sen per share.
The unconditional take-over offer was triggered with the exercise of a call option to acquire 75 million shares, resulting in Fakhri Yassin and related parties holding 50.4% of Mulpha Land. The offeror intends to maintain its listing status.
Mulpha Land, the property arm of Mulpha International ([You must be registered and logged in to see this image.] Financial Dashboard), has development projects in the Klang Valley, Johor, Penang and Kedah. For 2014, revenue dipped 4.4% y-o-y to RM45.1 million while pre-tax profit dropped 30.6% to RM8.2 million, mainly due to an impairment loss of RM7.6 million on development lands.
Net gearing ratio was relatively high at 72.8%. The stock trades at a 12-month trailing P/E of 13.1 times and 0.89 times its book value.
[You must be registered and logged in to see this image.]
This article first appeared in The Edge Financial Daily, on March 10, 2015.
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