Mulpha
Posts Bumper Profit on Overseas Ops(The Star)
Date : 03/03/2004
MULPHA International Bhd has posted record unaudited profit before tax and exceptional items of RM136.4mil and net profit of RM77.4mil in the financial year ended Dec 31, 2003.
Net earnings per share worked out to 5.9sen, reversing a net loss per share in the previous year, while net tangible assets per share rose to RM1.26 from RM1.
Mulpha's Chief Executive Officer, Chung Tze Hien said the bumper profit was mainly generated by the group's operations in Australia and China, Mulpha Australia Ltd and Greenfield Chemical Holdings Ltd, respectively.
Chung told StarBiz in an interview, that the Australian operations contributed at least 75% to group earnings last year, and the China operations 10% to 15%.
It is believed the group's development projects in Sanctuary Cove, Queensland, and Norwest Business Park, Sydney, have made Mulpha one of the largest Malaysian-based real estate investors and developers in Australia. With some investment of A$208mil in its Sanctuary Cove project, another 910 bungalows ranging in sizes from 8,000 sq ft to 10,000 sq ft and priced from A$500,000 to A$700,000 will be developed over the next 10 years.
"We are confident that our Australian operations will continue to do well, as the property market there is rather buoyant. Besides, the appreciation of the Australian currency vis-a-vis the ringgit has resulted in a strong translation gain of over RM20mil to our bottomline," he said.
The company recently completed its 10% share buyback programme of 139,441,200 Mulpha shares, at an average price of 44.7sen each, a 64.5% discount on its net tangible assets per share of RM1.26
Profitable
turnaround for Mulpha International(The Malay Mail)
Date : 07/03/2004
Mulpha International Bhd principally an investment-holding company with interest in property development and operates hotels and apartments, also has business in the distribution of fashion wear and sports equipment; and trading of securities.
With business interests that span across countries such as Australia, Malaysia, Hong Kong, Singapore and Vietnam, the company listed the largest producers of ready-mixed concrete in Malaysia, Mega Pascal Bhd on the second board and Greenfield Chemical Holdings Limited on the Main Board of the Hong Kong Stock Exchange.
Mulpha has just reported its annual revenue from December 31 last year, which saw its earlier lossess of RM7.32mil turned into RM77.36mil in profits. Its net tangible assets improved by 23.53 per cent to RM1.26 per share.
Fundamental development gave its price a boost, complementing it with an overall improvement in momentum. The initial rise was gradual, which culminated in a surge, pushing it to break its resistance at its previous high of RM0.735 on April 8, 2002.