MKH (6114) METRO KAJANG WILL BENEFIT FROM ECRL REROUTE TO BANGI/KAJANG, Calvin Tan Research

Hi guys,
Now that ECRL Reroute Stations have all surfaced ... MKH looks like A Top Beneficiary by Virtue of Its Huge Land Banks in Kajang - Semenyih region
Kajang is only 7km from Bangi which is less than 10 minutes away
Other Salient Factors are
1) MKH At Rm1.35 is Selling at at Huge 50% Discount to Net Assets of Rm2.70. Giving A Huge Margin of safety
And these are some interesting facts about Metro Kajang
Apart from Many Land Assets in Kajang - Semenyih MKH has 2 Shopping Complexes, a 3 Star Hotel, 4 parcels of commercial lands leased to two hypermarkets. 2 fast food restaurants & 4 offices.
These will give recurring income to pay dividends

2) SO STABLE IS MKH THAT PUBLIC BANK OFFICERS RETIREMENT FUND IS IN TOP 2ND HOLDER OF MKH
See Annual Report
3 Kenanga Nominees (Tempatan) Sdn Bhd Qualifier: Public Bank Group Officers’ Retirement Benefits Fund 34,553,134 5.967%
7 Public Invest Nominees (Tempatan) Sdn Bhd Qualifier: Public Bank Group Officers’ Retirement Benefits Fund 18,798,925 3.246%
Top 3 & 7 position go to Public Bank Group Officer Retirement Fund
SO GREAT IS THE TRUST TAN SRI TEH HOONG PEOW HAS IN  MKH THAT HE ENTRUSTED HIS STAFF"S FUTURE FINANCIAL WELL BEING  INTO THE HAND OF MKH MANAGEMENT

3) MKH ALSO DIVERSIFIED SUCCESSFULLY INTO OIL PALM CULTIVATION IN EAST KALIMANTAN
ABOUT 87,000 ACRES OF OIL PALM ARE GIVING OUT GOOD YIELDS
IT STILL HAS POCKETS OF RUBBER LANDS IN SEMENYIH...MANY ARE NOW BEING CONVERTED TO HOUSING ENCLAVES

4) MKH IS ALSO KNOWN TO REWARD SHAREHOLDERS WITH DECENT DIVIDENDS/RIGHTS/BONUS ISSUES

30-Nov-2018	21-Dec-2018	DIVIDEND	First Interim Dividend	RM 0.035
28-Nov-2017	22-Dec-2017	DIVIDEND	First Interim Dividend	RM 0.05
17-Apr-2017	28-Apr-2017	RIGHTS_ISSUE	Rights Issue	1 : 10
25-Nov-2016	14-Dec-2016	DIVIDEND	First Interim Dividend	RM 0.07
27-Nov-2015	16-Dec-2015	DIVIDEND	First Interim Dividend	RM 0.0700
10-Oct-2014	29-Oct-2014	DIVIDEND	First Interim Dividend	RM 0.08
29-Apr-2014	15-May-2014	BONUS_ISSUE	Bonus Issue	1 : 5
09-Dec-2013	19-Dec-2013	DIVIDEND	First Interim Dividend	RM 0.1
09-Jan-2013	19-Feb-2013	DIVIDEND	Final Dividend	RM 0.05
26-Nov-2012	06-Dec-2012	RIGHTS_ISSUE	Rights Issue	1 : 10
08-May-2012	18-May-2012	BONUS_ISSUE	Bonus Issue	1 : 10
08-Feb-2012	14-Mar-2012	DIVIDEND	Final Dividend	RM 0.05
25-Feb-2011	10-Mar-2011	BONUS_ISSUE	Bonus Issue	1 : 10
27-Sep-2010	13-Oct-2010	DIVIDEND	First Interim Dividend	RM 0.05

5) AND INSIDERS ARE ALSO SANGUINE ON ITS FUTURE BY BUYING MKH SHARES REGULARLY FROM OPEN MARKET

DATUK CHEN FOOK WAH	05-Apr-2019	Acquired	8,000	1.315
DATUK CHEN FOOK WAH	02-Apr-2019	Acquired	2,000	1.280
DATUK CHEN FOOK WAH	01-Apr-2019	Acquired	2,000	1.280
TAN SRI DATUK CHEN LOK LOI	23-Jan-2019	Others	168,219	1.200
TAN SRI DATUK CHEN LOK LOI	15-Jan-2019	Others	200,000	1.130
TAN SRI DATO' CHEN KOOI CHIEW @ CHENG NGI CHONG	07-Jan-2019	Acquired	10,000	1.170
TAN SRI DATUK CHEN LOK LOI	02-Jan-2019	Acquired	300	1.130
DATUK CHEN FOOK WAH	31-Dec-2018	Acquired	2,000	1.120
DATUK CHEN FOOK WAH	28-Dec-2018	Acquired	3,000	1.120
DATUK CHEN FOOK WAH	27-Dec-2018	Acquired	133,300	1.117
TAN SRI DATO' CHEN KOOI CHIEW @ CHENG NGI CHONG	20-Dec-2018	Acquired	7,800	1.180
DATUK CHEN FOOK WAH	19-Dec-2018	Acquired	3,000	1.160
DATUK CHEN FOOK WAH	18-Dec-2018	Acquired	9,300	1.156
DATUK CHEN FOOK WAH	17-Dec-2018	Acquired	3,500	1.160
DATUK CHEN FOOK WAH	14-Dec-2018	Acquired	18,800	1.170
DATUK CHEN FOOK WAH	12-Dec-2018	Acquired	2,500	1.180
DATUK CHEN FOOK WAH	11-Dec-2018	Acquired	30,000	1.160
DATUK CHEN FOOK WAH	03-Dec-2018	Acquired	3,000	1.190
TAN SRI DATUK CHEN LOK LOI	27-Nov-2018	Others	200,000	1.200
TAN SRI DATUK CHEN LOK LOI	13-Nov-2018	Acquired	2,500	1.230
TAN SRI DATUK CHEN LOK LOI	09-Nov-2018	Acquired	50,000	1.240

TAN SRI DATUK CHEN LOK LOI	07-Mar-2018	Acquired	5,000	1.500
DATUK CHEN FOOK WAH	05-Mar-2018	Acquired	28,000	1.518
TAN SRI DATUK CHEN LOK LOI	05-Mar-2018	Acquired	34,400	1.510
TAN SRI DATUK CHEN LOK LOI	02-Mar-2018	Acquired	50,000	1.540
DATUK CHEN FOOK WAH	02-Mar-2018	Acquired	30,000	1.546
DATUK CHEN FOOK WAH	01-Mar-2018	Acquired	49,600	1.561
DATUK CHEN FOOK WAH	14-Feb-2018	Acquired	4,900	1.546
DATUK CHEN FOOK WAH	09-Feb-2018	Acquired	4,000	1.570
TAN SRI DATUK CHEN LOK LOI	09-Feb-2018	Acquired	30,000	1.570
DATUK CHEN FOOK WAH	07-Feb-2018	Acquired	34,500	1.610
DATUK CHEN FOOK WAH	07-Feb-2018	Acquired	16,200	1.620
DATUK CHEN FOOK WAH	07-Feb-2018	Acquired	10,000	1.600
TAN SRI DATUK CHEN LOK LOI	06-Feb-2018	Acquired	50,000	1.618
TAN SRI DATUK CHEN LOK LOI	05-Feb-2018	Acquired	50,000	1.650
TAN SRI DATUK CHEN LOK LOI	26-Jan-2018	Acquired	100,000	1.684
DATUK CHEN FOOK WAH	24-Jan-2018	Acquired	3,000	1.680
DATUK CHEN FOOK WAH	22-Jan-2018	Acquired	8,000	1.695
DATUK CHEN FOOK WAH	16-Jan-2018	Acquired	12,500	1.747
DATUK CHEN FOOK WAH	15-Jan-2018	Acquired	5,500	1.790
DATUK CHEN FOOK WAH	11-Jan-2018	Acquired	9,000	1.804
DATUK CHEN FOOK WAH	03-Jan-2018	Acquired	16,000	1.772

6) BUT THE BEST TRIGGER IS THE REROUTING OF ECRL TO HAVE A TRAIN INTERCHANGE  IN BANGI/KAJANG
KAJANG IS ONLY 7 KM FROM BANGI WHICH IS LESS THAN 10 MINUTES BY CAR FROM THE PLUS HIGHWAY
MKH ALREADY HAS AN MRT CONNECTING TO KL
SO NOW WITH THE ECRL STATIION AROUND EXPECT LOTS AND LOTS OF COMMUTERS TRAVELING SOUTH BOUND TO KAJANG/BANGI BEFORE BOARDING THE ECRL RAIL TO EAST COAST STATES OF PAHANG, TRENGGANU & KELANTAN
KAJANG WILL BOOM AND BOOM FOR YEARS TO COME
SO NOW IS OUR CHANCE TO BUY INTO THE GROWTH STORY BY TAKING UP POSITION IN MKH EARLY
AFTER ALL MKH STANDS FOR METRO KAJANG
METRO AS IN METROPOLIS WHICH MEANS A BIG CITY
AND MKH HAS THE LARGEST COLLECTION OF PRIME PRIME LANDS AND ASSET IN KAJANG

7) AT Rm1.35 NOW CALVIN HA A TARGET PRICE OF RM2.70 FOR MKH (ABOUT 100% UPSIDE)
THAT IS EQUAL TO ITS CURRENT NET ASSET PER SHARE OF RM2.70

BEST REGARDS

Calvin Tan Research
Singapore

Please buy or sell after doing your own due diligence

Further Note
The triple Support of
NTA (Selling at 50% discount)
EARNINGS (Lastest Qtr Earns 4.5 Sen
DIVIDEND (Propsed 3.5 Sen)

Currency: Malaysian Ringgit (MYR)

SUMMARY OF KEY FINANCIAL INFORMATION 31 Dec 2018

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31 Dec 2018	31 Dec 2017	31 Dec 2018	31 Dec 2017
		$$'000	$$'000	$$'000	$$'000
1	Revenue up 28%	267,846	194,291	267,846	194,291
2	Profit/(loss) before tax	41,060	28,024	41,060	28,024
3	Profit/(loss) for the period	30,013	17,500	30,013	17,500
4	Profit/(loss) attributable to ordinary equity holders of the parent	26,400	17,189	26,400	17,189
5	Basic earnings/(loss) per share (Subunit)	4.50	2.95	4.50	2.95
6	Proposed/Declared dividend per share (Subunit)	3.50	5.00	3.50	5.00
		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 ($$)	2.7200		2.6600

Definition of Subunit:

In a currency system, there is usually a main unit (base) and subunit that is a fraction amount of the main unit.
Example for the subunit as follows:
 

Country	Base Unit	Subunit
Malaysia	Ringgit	Sen
United States	Dollar	Cent
United Kingdom	Pound	Pence

ARE ALL POSITIVE FOR MKH
AND NOW MKH SHARE PRICE IS STILL AT ALL TIME LOW OF RM1.35
AT ITS PEAK MKH TOUCHED RM4.00 A SHARE.
SO IF NOT NOW THEN WHEN?

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