Undervalued - Transformation coming.. New flow coming?
MUI is an undervalued GEM. Young blood is working to turn drive value up with various manoeuvres
MUI Market cap at 225mil, they own 48% of PM Corp ( market cap 120m) and 72% MUI Prop (market cap 300m)
Clearly, MUI current share price is only reflecting it's holding in MUI prop and everything else is FREE. There is buying opportunities here for a bargain
What I see
1) Corus KL - located at prime landbank in KL - unlocking this for redevelopment would generate decent profit for the group
2) Corus Hyde Park - prime real estate standalone building at Hyde Park location is ripe for renovation and could be the crown jewel of the group with valuation expected to be over GBP160m and with refurbishment could be valued much more
3) other land bank. Within the group - redevelopment could generate decent free cashflow and enhance profitability
Time for the old tiger to roar under helm KKP second gen, Andrew Khoo
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