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Author: Callmejholow   |   Latest post: Mon, 9 Dec 2019, 2:55 PM

 

AME Elite Consortium Bhd Debuts TODAY!

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AME Elite Consortium Bhd (AME) is a total solutions provider for industrial parks and factory units. Starting out as a contractor for industrial buildings in 1995, it has since expanded into industrial park development, leasing of industrial properties and managed workers’ dormitories. AME benefits from rising demand for industrial properties in Malaysia due to trade diversion amidst the ongoing USChina trade war.

Sourced from Affin Hwang's report - AME provides integrated and comprehensive solutions encompassing the design and construction of customised large manufacturing plants, development of industrial parks, and the sale and lease of industrial factory units. It has a proven track record of completing about 200 large manufacturing and industrial buildings for various industries as well as four industrial parks in Johor.

AME stands out as a niche industrial property developer that is seeing growing demand, compared to other listed property developers that are more focused on residential and commercial property development. AME has established track record in industrial park development under the “iPark” brand in three locations in Johor. AME is utilising the bulk of the IPO cash proceeds (62% of RM111m) to acquire land and form joint ventures (JVs) to expand its industrial property development business. Currently, AME’s property development activities are concentrated in Johor and plans to diversify geographically in other major industrial areas in Malaysia, such as Penang and Klang Valley, to tap on new markets and offer customers more location choices.

AME has a high remaining construction and engineering services order book of RM376.9m, equivalent to 1.4x FY19 revenue, to be completed by 2Q21. For the property development division, it has remaining industrial land with gross development value (GDV) of RM1.61bn, mainly in 2 of its industrial parks in Johor, ie, i-Park@Indahpura and i-Park@Senai Airport City (SAC). The RM150m acquisition of a 77-acre land for i-Park@SAC Phase 3 expansion added another RM555m to the total GDV.

How will they perform today? I believe it will open about 10-15% up... and hopefully keep moving... 5pm target should be at RM 1.55. 

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