Plenitude – a new hope
The performance of Bursa Malaysia Plenitude over the past decade was nothing to shout about with an average ROE of 4%. But this was because not all its cylinders were firing. Plenitude had 2 main businesses – property development and hospitality.
The hospitality business used up about half of its capital. For most of the time over the past decade the hospitality business delivered losses. The profits for the group were contributed by property development.
But over the past 8 years, the group had been refurbishing and improving the operating efficiency of the hospitality business. Then in 2023, this business began to deliver profits. I would expect growing contribution from the hospitality business.
Can you imagine the potential returns when both property development and hospitality pull their own weight? I think the market price has yet to reflect Plenitude’s turnaround.
For more insights refer to page 20 of INVEST
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103370157 : I totally agree with your assessment but it's a value trap for many many years and will continue. The top mgmt whom is related to the major shareholders just don't care on shareholders interest.
For example, what is much better than buying back some shares which is super undervalued.
No dividend policy and guidance except the standard explanation quarter to quarter.
Investors nowadays are not naive. There are many companies available.
Plenitude should just get delisted