Tag: maui land & pine

May 5, 2012 General Ag News and Notes, Maui Gold Pineapple Post a Comment

ML&P reports doubts about its ability to continue

KAPALUA – Financial challenges facing Maui Land & Pineapple Co. are raising a “substantial doubt about the company’s ability to continue as a going concern,” the company reports in its latest filing with the U.S. Securities & Exchange Commission.

Among a number of disclosures in the filing, a group of lenders has declared that a $280.5 million loan for the Kapalua Bay Holdings’ construction of the The Ritz-Carlton Club and Residences, Kapalua Bay is in default. ML&P has invested more than $50 million in cash and $25 million in land for the development project and has 51 percent ownership in the Bay Holdings company.

“The company’s cash outlook for the next 12 months and its ability to continue to meet its financial covenants is highly dependent on selling certain real estate assets in a difficult market,” the filing says. “If the company is unable to meet its financial covenants resulting in the borrowings becoming immediately due, the company would not have sufficient liquidity to repay such outstanding borrowings.”

While the company’s future appears ominous in its SEC filing, Tim Esaki, the company’s financial officer, said Friday that company officials “remain optimistic.”

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February 11, 2011 General Ag News and Notes Post a Comment

Carmaker Stocks In Cruise Control

U.S. Equities
In Friday trade, vehicle manufacturers among leaders.

In trading on Friday, vehicle manufacturers shares were relative leaders, up on the day by about 1.6%. Leading the group were shares of Tata Motors, up about 9.5% and shares of Ford Motor up about 2.8% on the day.

Also showing relative strength are real estate shares, up on the day by about 1.6% as a group, led by China Housing & Land Development , trading higher by about 9.4% and Maui Land & Pineapple , trading higher by about 9% on Friday.

Carmaker Stocks In Cruise Control – Forbes.com

February 10, 2011 General Ag News and Notes, Stock Market Post a Comment

4 Real Estate Stocks Outpacing Rivals

An exotic sounding play lumped in with the usually, urban-centric commercial real estate managers, is Maui Land & Pineapple(MLP), the holding company of subsidiaries that engage in agriculture, community development and resort operations in Hawaii. Its shares are up 10% so far this year.

The company, founded in 1909, operates through two segments: an agricultural unit, Maui Pineapple Co. with extensive land holdings; and the developer of the exclusive destination resort property, the Kapalua Resort in Maui, Hawaii.

According to TheStreet’s ratings summary, the one analyst who follows it has a “strong sell.”

After disclosing severe financial constraints at the end of 2009, the company has been in turnaround mode. In the first nine months of 2010, it reported net income of $1.23 per share, compared with a net loss of $92.9 million, or a loss of $11.57 per share, for the first nine months of 2009.

4 Real Estate Stocks Outpacing Rivals – TheStreet

February 1, 2011 General Ag News and Notes Post a Comment

ML&P issues layoff notices

Unknown number of workers at Kapalua golf courses to lose jobs under a new manager

KAPALUA – A number of Maui Land & Pineapple employees will lose their jobs when an independent firm takes over management of the Kapalua Plantation Golf Course and Bay Golf Course at the end of March, the company announced Monday.

In a filing with the Securities and Exchange Commission, ML&P said the total number of employees affected by the turnover is still uncertain, but that it had sent a 60-day layoff notice to workers, in compliance with U.S. labor laws.

There are about 100 ML&P employees working at the two courses, approximately half of the company’s total work force of 200, said Chief Financial Officer Tim Esaki.

Troon Golf, of Scottsdale, Ariz., will take over management of the courses on April 1, the company said.

Esaki said golf course employees were sure to be involved in the change, but “it may affect other employees as well.”

“Troon Golf, assuming the management of the golf course, will have an impact on other areas of our operations, but we’re currently in the process of evaluating what that is,” he said.

ML&P sold its Bay Course last year to TY Management Corp. for $23.6 million, with an agreement to lease back and continue to operate the links until March 31.

TY also purchased the Plantation Course from money-losing ML&P for $50 million cash in 2009, also with a lease-back contract.

ML&P issues layoff notices – Mauinews.com | News, Sports, Jobs, Visitor’s Information – The Maui News

January 2, 2011 General Ag News and Notes Post a Comment

Planet News World – Top 5 weekly winners of NYSE (MLP, PULS, FBP, AMBO, CBC)

(NYSE:MLP) Maui Land & Pineapple Company, Inc. belonging to Real Estate Development industry is currently trading at a price of $4.98, a dramatic change of 9.69% from its previous day’s close. MLP is currently trading at a volume of 55377 shares compared to its daily average volume of 16.79K shares. The stock is trading with a gain of 10.67% from its open . Maui Land & Pineapple Company, Inc. has done quite well being up more than 19.14% since the beginning of the week and has a market capital of approximately 93.42M. Maui Land & Pineapple Company, Inc. engages in the resort and community development businesses. The company’s Community Development segment provides real estate entitlement, development, construction, sales, leasing, real estate brokerage, and water and sewage transmission services. It leases commercial and residential properties; and provides license and lease arrangements for the use of buildings, facilities, land, and trade names. Maui Land & Pineapple Company’s Resort segment operates 2 championship golf courses, a tennis facility, a spa, retail outlets, a hotel, residences and clubs, a bay, 8 residential neighborhoods, a commercial space, and restaurants, as well as approximately 700 single-family residential lots, condominiums, and homes. The company was founded in 1909 and is based in Maui, Hawaii

Planet News World – Top 5 weekly winners of NYSE (MLP, PULS, FBP, AMBO, CBC)

January 1, 2011 General Ag News and Notes Post a Comment

Top 10 Leisure Services Stocks of the Week: MLP, PRXI, LONG, STNR, FUN, RDI, TZOO, BWL.A, ISCA, LTM – China Analyst

Below are the top 10 best-performing Leisure Services stocks for the past week. One Chinese company (LONG) is on the list.

Maui Land & Pineapple Co. (NYSE:MLP) is the 1st best-performing stock last week in this segment of the market. It was up 19.14% for the past week. Its price percentage change is -10.27% year-to-date.

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10 Leisure Services Stocks of the Week: MLP, PRXI, LONG, STNR, FUN,
RDI, TZOO, BWL.A, ISCA, LTM (Jan 01, 2011) – China Analyst