Pan Malaysia Holding Berhad - Subsidiary of MUI

MUI controls about 68% of Pan Malaysia Berhad. PMH recorded RM 31,000 net income in Q1 08 vs RM 2.2 millions in Q1 07. Revenue is flat, aro RM 6 million from its Group's travel operations. Contribution shrunk from its broking associated company PM Capital due to weak market sentiments. This may create some psychological pressure on MUI's share price though it contributed to about 10% plus to MUI's 2007 earnings. Waiting for MUI's results to assess its earning contributions from retails, hotel and property. The main thesis of investing in MUI is to see it paring down its debt, revaluate its properties and some earnings momentum from its retail arms ( Metro Jaya and Laura Ashley). If the main catalysts are not happening within 2 - 3 years, SELL, I MUST.