"cytew >>> once it crosses 42.5 sen only can be considered short term reversal of trend ,and after that TP is 47.5 sen to 50 sen range. 09/09/2016 13:28"
WhoKnowsdunno wait how long for that to happen...... :(
imlearningya, up abit drop a bit, hope it will faster up up up to the sky
WhoKnowsseems like gonna hibernate long long time..... haiz.....
Celine LooOCR expects turnaround by next year By TEE LIN SAY email@example.com StarBiz 19 September 2016
With construction and property projects worth RM1bil in hand, O&C Resources Bhd (OCR) managing director Billy Ong Kah Hoe believes the worst is over for the company, Formerly a condom-maker known as Takaso Resources Bhd, the company had seen its share price taking a beating, as investors sentiment turned sour on property stocks. “This year has been about putting our house in order. We have been working hard to secure projects. I believe that by next year, with what we have now, we can see a turnaround in the earnings,” said Ong. Ong planned to launch OCR’s maiden project by the end of this year. This comprised a block of service apartments in Jalan Yap Kwan Seng, some 700m from the Petronas Twin Towers. The project has a gross development value (GDV) of RM200mil, and will be priced around RM1,400 to RM1,600 per sq ft. “While it’s true that the property market is still soft, we are seeing small signs of improvement. Furthermore, if we can launch at competitive pricing, I am confident we can garner a decent take-up rate,” said Ong. OCR’s stock price had underperformed, as investors expect to see earnings improvements. Down 24% on a year-to-date basis, and at its current price of 38 sen, OCR is now a small cap as its market capitalisation is RM90.4mil. While OCR has diversified into property development, it still maintains Takaso’s old business of manufacturing rubber and baby products. It also trades in baby apparel, infant milk, toiletries, recycling, as well as general, electrical and mechanical products. Ong came on board the company late last year after the mid-sized developer OCR Land Holdings Sdn Bhd acquired a 13.81% stake in Takaso. He owns a 6.77% stake in OCR. OCR Land and Ong control some 19.9% of the company. Ong’s confidence in the turnaround of OCR stemmed from a project management consultancy project it secured last week. On Sept 8, OCR’s 70% equity subsidiary, Pangkal Teguh Sdn Bhd (PTSB), received a letter of award for its appointment as project management consultant (PMC) from Yayasan Pahang for an affordable housing development scheme in Pahang which consist of 25,000 units of residential properties. Spanning over seven years, the value for the PMC award is at average of 4.8% of the GDV of the project. OCR said in a filing with Bursa Malaysia that the total estimated profit attributable to OCR from the PMC was RM91mil over the seven-year construction period. This contract is expected to start contributing from the financial year ending July 31, 2017. PMC contracts are said to carry decent profit margins. “We have been working on getting this contract for the last 12 months. “We are grateful for the working relationship we have with the Pahang state government all this while,” said Ong. He said that OCR had stationed some of its people in Pahang and work had begun. For the PMC contract, the fees are charged RM5,500 for each property selling at the price of RM120,000 and below and RM8,000 for each property selling at the prices between RM120,000 and RM150,000. This project is significant to OCR, considering that it is still in the red as of the third quarter to April 30. For the period, the company recorded losses of RM1.3mil on the back of revenue of RM8.6mil. For the nine-month period, the company is in the red with losses of RM732,000 on the back of RM28.67mil in revenue. Adding traction was another PR1MA project which OCR had secured in August. On Aug 2, OCR announced that its 70% equity subsidiary, Kita Mampan Sdn Bhd, through its associate company, AES Builders Sdn Bhd, had entered into a master en-bloc purchase agreement with PR1MA and Mampan ESA (Malacca) Sdn Bhd to build and develop PR1MA @ Sri Gading at Alor Gajah, Malacca, comprising of 554 residential units with five apartment blocks of 11 storeys each and one apartment block of 12 storeys at a total contract value of RM101.08mil. OCR has an effective 34.3% stake in AES Builders. AES will be the main contractor of the project to be completed within 36 months from commencement. The gross development cost of the project for AES is RM83mil, out of which OCR’s profit entitlement based on its stake in AES is RM6.174mil.