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Joined Jul 2019
Country AUSTRALIA
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STOCK: MULPHA (3905)

Blog 22 Jul 2019, 7:17:24 PM
Mulpha just sold the 4-star Esplanade Cairns hotel for 60% premium to book value. Increases NTA from 10.19RM to 10.32RM/Share (Share price 2.15RM). Reduces Gearings from 42% to 40% Interesting to note that the salary of the management here is much less than other less shareholder friendly companies in the space like KSL where the family gets compensated 10 mill while it is closer to 1.5 mill at Mulpha. A detailed and recent writeup can be found here: https://sites.google.com/view/TheBadInvestor#h.p_UYnq7upShHG5 Never the less, I would like to hear of specific examples where members know that Mulpha has acted in the disinterest of shareholders. I know that there was talk of the company canceling non marketable during the consolidation 10:1 a few years back. Not sure if this was true


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