Monday, January 30, 2012

Sold MUI IND

Sold 10,000 shares MUI IND @ 0.26/share

KLCI = 1513.

2 comments:

Value Investor said...

Agree with your decision to sell MUIIND. I sold mine last month as RM0.245.

Attended the MUIIND AGM a few years back as I was curious to find out how Tan Sri KKP replies to the question by shareholders. At that time, I was sort of convinced that he will be able to "turn around" MUI.

However, unlike Berjaya Corp where Vincent Tan managed to "salvage" his flagship after almost sunk by the Asian Financial Crisis and in fact be able to able to add value to his business (Cosway, Starbucks etc), it is sad to see MUIIND without much changes since the mid 1990s except the sale of its assets to repay debt. There are no real "cash cow" or businesses with strong cash flow to drive the company forward.

Feel really sad for those shareholders who subscribed to MUIIND Rights Issues in the 1990s at more than RM1.00. Wonder how long they have to wait before they can at least recover their principal.....

bullbear said...

MUIIND was the first stock you bought for your portfolio. Your buying price was RM 0.28 on the 28/2/2008. (I am not sure if these were also the same shares you have sold.)

http://turtleinvestor888.blogspot.com/2008/03/turtle-portfolio-update.html

What can we learn from this "investment"?

There must be some valuable lessons we can derive from this to guide us.

Regards.