vested
Quarterly Rpt on consolidated results for the financial period ended 30 Jun 2015
Revenue: -8%
Loss -$0.56 per share
http://www.bursamalaysia.com/market/lis ... ts/4835621
The 21-day ultimatum delivered by Mr Justice Bodey was said by Pauline Chai’s lawyers to be the first time an English family court had used its powers to force a claimant to “lay out his stall”.
The gulf between the parties means there will have to be costly investigations to establish the true extent of his wealth – unless they reach agreement.
Should the sale to Dr Yu go ahead, proceeds from the divestment of PM Holdings are expected to further lower MUI’s borrowings from RM898.04mil as at Dec 31, 2014.
Its total borrowings as at Dec 31, 2013 stood at RM970.3mil, while its gearing stood at 1.15 times in 2014 and 1.25 times in 2013. In 2010, borrowings stood at RM1.187bil.
MUI has good landbank mainly in prime locations that has not been revalued for many years.
Its crown jewel is the 390-room hotel known as Corus Hotel Hyde Park at Lancaster Gate, London, which sits on 21,640 sq ft of freehold land and carries a net book value (NBV) of only RM257.5mil. MUI bought the property in 2001.
Locally, MUI’s Corus Hotel in Jalan Ampang sits on 78,500 sq ft of land opposite the Petronas Twin Towers and is carried at an NBV of RM60.5mil, or RM770 per sq ft. On the other hand, land in the KLCC vicinity has reached as high as RM3,000 per sq ft.
It is estimated that the Corus Hotel in Jalan Ampang if pulled down to be redeveloped could fetch a gross development value of close to RM2bil.
MUI shares last traded at 18 sen, giving it a market capitalisation of RM527.86mil.
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