Saturday, 2 January 2016

Utusan crushes Buffett's track record (2)

Utusan was queried by Bursa regarding the mysterious deal in which they made such a huge profit in such a short timespan.

Some excerpts:

  • .... has since recently been more active in seeking to create its own land banks for future property development.
  • .... there is no property development projects which have been launched by Maqamad or to be launched. However Maqamad is in the process of finalising a certain land deal.
  • .... Utusan is unable to disclose the details of the land deal as it will jeopardise the successful financial and legal closure of the said land deal.
  • Shareholders' funds/Net Assets (‘NA’) (1,803,910)

In other words, hardly any concrete information except that there might be a "certain" land deal. All as expected, if I might add.

Although Utusan might have crushed Buffett's record, I doubt that Buffett would have the least interest to invest in this company.

1 comment:

  1. I love your sarcasm. And yup definitely no envy from Mr WB.