MYP Ltd

[desmondxyz]

There are 3 things that I would highlight here:

1. The logistics and shipping agency/terminal business were sold to Singapore Shipping Corp at a discounted price, many SSC shareholders are happy with the deals
2. The announcement today are IPT, that raise a question as to the extent of the "arms-length basis" of these transactions, though the assets were valued by blar blar blar....
3. It seems that the owner is trying to cash-out from the matured assets and when the prices are still high

IMHO:
1. Cougar business is something in the history, Tahir's main target is not the shipping/logistic business. He sold it cheap to Mr.Ow but I don't see much impact of that small money as compare to the size of Mayapada. Look ahead of the future of MYP, not its past.

2. Yes, it is a 'left hand change right hand' deal. After transaction, Tahir family will own ard 87% of MYP and that's the beauty of it. As a minority shareholder, just ride along with the big wave...

3. MYP served as the property investment arm of Mayapada. In the future, there will be more properties in the pipeline to be injected to MYP. From what I see now, it is running like a REIT mode. With Mayapada backing, there is nothing to worry about.