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Yeah we need more malls!:banana:Without it how are we to cool down ,when the SMOG comes around(Thanks so much to our beloved Indonesian neighbours for being such a darling.Every year without fail they help us with free dengue fogging )Where are we to go for cheap makan if not the food courts.Its simply the best way to keep fit by just going to malls.Yahoo more malls please.:)
 

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Discussion Starter · #6 ·
We need more shopping malls! Especially malls with unique designs and new brands/tenants to fill in.
Generally, better quality first time brands will typically go to Suria KLCC or Pavilion KL.
 

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It can be anywhere in ampang JUST not there!Even without A MALL at that location the traffic is a nightmare.It will be the ultimate madness if DBKL actually gives them the green light!I will personally start a protest group to make sure it doesn't happen.
 

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Published: Thursday August 21, 2014 MYT 3:04:00 PM
Updated: Thursday August 21, 2014 MYT 3:07:37 PM
MPHB Capital rises to high of RM2.65, re-rating of property assets




KUALA LUMPUR: MPHB Capital Bhd's share price regained its upward momentum on Thursday amid a weaker broader market to climb to a high of RM2.65 as analysts were positive about its property.

At 3.01pm, it was up five sen to RM2.60. Turnover was 1.28 million shares done at prices ranging from RM2.58 to RM2.65.

This was the highest since Aug 14. Year-to-date, the share price is up 56.8% from RM1.69 at the start of this year.

UOB Kay Hian Malaysia Research is maintaining a higher target price of RM2.80 from the previous RM2.69, assuming a 20% discount to its sum-of-the-parts (SOTP) valuation of RM3.49 a share and unchanged valuation methodology.


"Our higher target price is due to the inclusion of the recently-acquired Jalan Imbi land (RM143mil representing RM2,000 per sq ft (psf) and adjustment of net cash position in our SOTP," it said.

The research house said it does not foresee any significant news for the rest of 2014, with the exception of the successful completion of the 49% stake in Multi-Purpose Insurans (MPIB).

"However, we believe MPHB will be able to deliver more upside in the longer term, particularly in 2015 when more catalysts emerge," it said.

UOB Kay Hian Malaysia Research said it came to understand MPHB was keen to redevelop its Hotel Flamingo by the lake in Ampang and the Plaza Flamingo office building into a planned integrated property development with a joint venture partner.

"We expect MPHB to monetise this project at RM600mil (versus book value of RM76mil) and it will also have partial ownership of the mall for recurring income purposes. We assume RM250mil (or 35 sen a share) for this asset," it said.

MPHB Cap posted 2Q14 revenue of RM91.8m (+5.4% on-quarter, +14.7% on-year) and net profit of RM198.9mil (more than 100% on-quarter, more than 100% on-year).

Stripping out the net tax extraordinary gain of RM195m from the Balik Pulau land sale, 2Q14 core net profit would be RM14.0m (+63.7% on-quarter, -3.0% on-year).

"Core net profit for 1H14 represents only 29% of our full-year forecast. However, we deem this in line as MPHB is expected to receive the remaining RM24m from its profit-sharing of the JV property project in Minden Heights, Penang in 2H14," it said.

It also said the insurance division recorded a revenue of RM81.3m (up 15.5% on-year) and profit before tax of RM20.5m (+24.8% on-year), thanks to the higher underwriting profit and investment income recorded in 2Q14.

To recap, MPHB Cap won the Jalan Imbi land court case on June 25, 2014 which required the vendor to sell a 1.6-acre land in Jalan Imbi for RM72mil (equivalent to RM1,006psf) to MPHB.

"We understand from management that the acquisition has been completed and fully paid by internal funds. Post acquisition, MPHB has a combined landbank of 5.8 acres in Jalan Imbi now.

"Over the medium term, we do not discount the possibility that MPHB will redevelop this land, which is close to the upcoming Tun Razak Exchange. As the acquisition is completed, we include this 1.6-acre land into our SOTP and value it at RM2,000psf, which is lower than market prices of above RM2,500psf," it said.

http://www.thestar.com.my/Business/Business-News/2014/08/21/MPHB-Capital-rises-to-high/
 

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heard that Ministry of Education is planning to sell the school land behind Flamingo Hotel for redevelopment. Could it be related to this project?
 

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Our cities are lacking in civic buildings (large scale libraries, world class performance theater, sports & community centers & etc).

Something iconic (similar to Singapore Esplanade /Sydney's Opera House) would be awesome right? :)
 

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Our cities are lacking in civic buildings (large scale libraries, world class performance theater, sports & community centers & etc). Something iconic (similar to Singapore Esplanade /Sydney's Opera House) would be awesome right? :)

If i'm not mistaken, our Istana Budaya is listed as Top 10 theatres with the most sophisticated facilities or something.
 

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traffic is pretty horrid there,lot of trouble for people from melawati,pandan,ampang,cheras etc going to Kl and vice-versa
and they say that the lake there is quite "keras"
better just renovate ampang plaza or something
 

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U know,We know and everyone else does too but not DBKL!Its suicidal if they go ahead with this one.Unless they the developer can magically make the traffic problem go away perhaps then they can proceed.The developer knows that is a very strategic location for a mall.
 

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I thought it's under MPAJ and not DBKL?
 
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