addyleeThe Board of Directors of Mah Sing wishes to announce that Mah Sing Group Ventures Sdn Bhd (“Mah Sing Ventures”), a wholly-owned subsidiary of Mah Sing, had on 28 August 2014, entered into a sale and purchase agreement with Huges Development Sdn Bhd for the proposed acquisition of a piece of prime leasehold land in Puchong, Selangor measuring approximately 88.7 acres (“Land”) for a total cash consideration of RM656,896,779 or RM170.00 per square foot (“Proposed Acquisition”).
fundtraderMah Sing swoops on 105ha Puchong prime land, plans RM9.3bil project http://www.thestar.com.my/Business/Business-News/2014/08/29/Mah-Sing-swoops-on-105ha-Puchong-prime-land-It-plans-RM93bil-integrated-mixed-development-on-first/
bsngpgAs expected, another 20% growth on net profit. It is very difficult to find company with consistent 20% growth rate each year. If you already have it, you should appreciate and keep it for long term albeit its share price performs likes turtle temporarily.
bsngpgLeng Yan(冷眼) said it is very fair to ascribe PE 15x for high growth company especially during the hot bull market. If our beloved "TurtleSing" ready commands PE 15x in near future, its share price would be RM3.3(TTM eps 22 x 15).
Some forumers commented Mahsing is too slow and too low. Even myself sometimes also confuse if it is "TurtleSing" or "HorseSing". For this, I spent half day finding data to check if the critics are valid. Let us see:
The above CARG excludes the around 3.8% dividend yield each year and free Warrant in 2013. If adding back both, the actual return will be even higher.
Historical data (adjusted with bonus) were retrieved from Yahoo Finance. Formula of CAGR= (Current Value/Initial value)^(1/years)-1. Initial values were my actual investments which were random. Current value=2.45, 29Aug14.
So do you think our beloved Mahsing delivers good return ?