MULPHA - Too Undervalue

[k2010]

comrade fish/mohseen, why do you think this is a dead end counter or $ will be stuck forever?  This is a pure asset play counter with 5 star assets and deeply discounted.  It is trying to get out of the D/E trap where it expanded its 5 star assets - the D/E ratios are improving.  Plain, good sense strategy by the Mgmt. 

Would be good if you can share the fundamental analysis to this counter - thanks.
so far NO DIVIDEND paid and only ask for moni ie right issue

[undervalue]

TANJONG SEEN AS A CANDIDATE - BT Online
MALAKOFF Bhd, the country's largest independent power producer (IPP) which is 51 per cent-owned by MMC Corp Bhd, is unlikely to emerge as the substantial shareholder in Mudajaya.

"We believe that the potential buyer is unlikely to be Malakoff as it is highly geared and is likely to concentrate on its proposed Tanjung Bin power plant expansion (in Johor) instead," OSK Research Sdn Bhd analyst Jeremy Goh said in a report yesterday.

Goh said however, Tanjong plc is a likely contender as it currently does not have any IPP exposure in India and has previously expressed interest to enter the market.

"Acquiring a stake in Mudajaya would give it exposure in that country as Mudajaya holds a 26 per cent stake in RKM Powergen Pte Ltd, which is tasked with undertaking a 4x360 megawatt (MW) IPP project in Chhattisgarh, India.


 
"India will be calling for prequalification tenders for five Ultra Mega Power Plants (UMPPs) very soon. Each UMPP will have a capacity of 4000MW and the EP contract could be worth US$4 billion to US$4.8 billion,(RM12.9 billion to RM15.5 billion)" he added.

Goh is not discounting the possibility of Tanjong and Mudajaya forming a JV with a local Indian partner to bid for the UMPPs.

A business daily had reported that there was market speculation on a new substantial shareholder emerging in Mudajaya, and that the interested parties were Tanjong and Malakoff.

It was also speculated that the stake could be bought from Mulpha, which currently holds a 21.4 per cent stake in Mudajaya.

"Although Mulpha denied in the news article that its block of Mudajaya shares was up for sale, we understand that the firm has been in talks with various parties on the matter," said Goh.

"In fact, we gather that Mulpha has actually held talks with Tanjong on the potential sale of its 21.4 per cent stake in Mudajaya. Despite having board representation in Mudajaya, we understand that Mulpha has been a somewhat silent shareholder in the former," he added.

Goh has a "buy" call on Mudajaya, with a RM7.33 target price.


Read more: Tanjong seen as candidate http://www.btimes.com.my/Current_News/BTIMES/articles/mudaj22/Article/#ixzz0uTQP88qa

[undervalue]

Based on Valuation of RM7.30 per share on Mudajaya, Mulpha's extraordinary profit will comes to RM630mil or 26sen per share assuming they sell off their stake to Tanjong. Their stake in Mudajaya is book in at RM33mil or RM0.38sen per share.

[Tissot]

Chiong mulpha going up to 1.oo faster go n collect today closing will be 0.70 insider info 

[Kucing]

 

[undervalue]

Looks like there's no more big block sellers.
More funds will start chasing Mulpha.

[robben18]

buying force is still strong 

[super]

sabah sabah for mulpha frens....now all looking at the super star(SAAG)  Mulpha will be quiet for 2 days.

But wait.... it will comes soon...akan datang