Highlights
KLSE: HUAYANG (5062)       HUA YANG BHD MAIN : Property
Last Price Today's Change   Day's Range   Trading Volume
0.42   +0.01 (2.44%)  0.415 - 0.425  274,300
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Overview

Market Cap: 148 Million
NOSH: 352 Million
Avg Volume (4 weeks):618,211
4 Weeks Range:0.36 - 0.435
4 Weeks Price Volatility (%):
80.00%
52 Weeks Range:0.30 - 0.605
52 Weeks Price Volatility (%):
39.34%
Average Price Target: 0.43
Price Target Upside/Downside: +0.01
Stamp duty exempted for year 2019

Financial Highlight

Latest Quarter | Ann. Date 31-Dec-2018 [#3]  |  23-Jan-2019
Next QR | Est. Ann. Date: 31-Mar-2019  |  22-May-2019
T4Q P/E | EY: 12.58  |  7.95%
T4Q DY | Payout %: 0.00%  |  - %
T4Q NAPS | P/NAPS: 1.75  |  0.24
T4Q NP Margin | ROE: 4.07%  |  1.91%

Headlines

Date Subject
24-Jan-2019 Mplus Market Pulse - 24 Jan 2019
24-Jan-2019 Hua Yang - 9M19 Above Expectations
14-Nov-2018 [转贴] [HUA YANG BHD:拥有466英亩未开发的土地储备,估计GDV为53亿令吉] - James的股票投资James Share Investing
26-Oct-2018 华阳 2年财测下修
26-Oct-2018 Hua Yang Berhad - Navigating Thru Challenging Times
25-Oct-2018 Mplus Market Pulse - 25 Oct 2018
25-Oct-2018 PublicInvest Research Headlines - 25 Oct 2018
25-Oct-2018 Hua Yang - 1H19 Below Expectations
10-Sep-2018 静候房产新政.华阳伺机而动
03-Sep-2018 Hua Yang Berhad - Sells 30% of Kajang Heights Land
20-Jul-2018 华阳 未来季度业绩向好
19-Jul-2018 Mplus Market Pulse - 19 Jul 2018
19-Jul-2018 Hua Yang - Better Quarters Ahead?
24-May-2018 Hua Yang - Navigating Tough Times
23-May-2018 Mplus Market Pulse - 23 May 2018
23-May-2018 Hua Yang Berhad - Challenging Times

Business Background

Hua Yang Bhd is an investment holding company engaged in property development and provision of management services. Its segments consist of Property development segment engaged in constructing and developing residential and commercial properties; and Concession assets segment engaged in the collection of rental over the concession periods from assets held under build, operate and transfer agreements. Majority of the revenue is derived from Property development segment with operations spread across Malaysia.
Analyze this stock with MQ Trader system

  26 people like this.
 
Calvin Wai May 2018 40 cents
Sep 2018 30 cents
Dec 2018 20 cents

This should be accurate!
13/04/2018 17:27
curious2 Drop a lot from GE 5 years ago. A sign Pakatan must win Perak(KYY) state?
16/04/2018 11:56
Joel Chan heheh up up up
16/04/2018 13:21
Jessie Ng ahahahhaha lup ups pu pup up up p
16/04/2018 13:38
5354 Socso says Kia Peng land purchase is an investment
http://www.theedgemarkets.com/article/socso-says-kia-peng-land-purchase-investment
30/04/2018 05:51
5354 Lai Meng school land can fetch RM 4000/sq ft?
30/04/2018 05:51
bluebiznet Last chance to sell before the post bad quarterly result crash within a day or two
30/04/2018 09:07
bluebiznet Where is the qtr rpt for this rubbish company? Cant deliver before due date?
30/04/2018 19:31
huayang_ Not 17 May? i3 cheating?
01/05/2018 19:11
LEEKS7 hows the final quarter result ?
17/05/2018 14:45
bluebiznet My mistake. Before 30th may. I m looking forward to see this rubbish developer coming qtr rst
17/05/2018 14:53
property Banks may ask not to reject too much housing loan under PH? When BN in power 60% housing loan rejected.
20/05/2018 22:19
5354 Poll: 92% of Malaysians prefer to own than rent
http://www.thesundaily.my/news/2018/05/21/poll-92-malaysians-prefer-own-rent
22/05/2018 02:27
drkervokian interesting appointment. ex TIA (what was previously 1MDB) director. and also Puncak Niaga.
Potentially some land divestiture/acquisition in progress
22/05/2018 21:39
LEEKS7 for future development ?
23/05/2018 15:22
drkervokian drkervokian No. the topline dropped from RM127mil to RM47mil.
Basically not that many new projects. And being very careful given softer and overcrowded market.

I checked out Aesthetica yesterday. 500+ units. Average 550-600per/sq feet at average 1000 sqfeet per unit. Staggered releases with only Block A for now and also to ensure unpopular floors are sold first before releasing higher floors and upper floors.

Roughly within expectations from the growth.
Based on trajectory the revenue numbers will be pretty soft this year.

So roughly GDV of RM300mil for Aesthetica. And since only block A this year. Only Rm100-125mil potential upside for this project for 2017 given that we only have 9 months to go for their financial year. Assuming Meritus residensi also another 100-125mil. we'll probably end the year with top line of only ~RM200-250mil (increase it abit) by the end of financial year. at probably 15-18% operating margin or about 30mil.

----
Posted this back in July last year... Top line roughly right. But operating margin way below 15 to 18%. At only ~5%, wonder what they're spending it on.
30/05/2018 17:03
ivan9511 Faster buy huayang
Will limit up very soon
21/06/2018 19:06
Y2016 How is the sales for their Puchong project
21/06/2018 23:46
PH_Govn Govt to introduce new housing loan for M40, B40: Zuraida
http://www.thesundaily.my/news/2018/07/04/govt-introduce-new-housing-loan-m40-b40-zuraida
05/07/2018 05:20
property Buy properties before SST is implemented to save big: Rehda
http://www.thesundaily.my/news/2018/07/05/buy-properties-sst-implemented-save-big-rehda
06/07/2018 13:42
drkervokian Of all ppl only Kenanga is analysing this stock
24/07/2018 14:46
speedyact coming back slowly....
08/08/2018 12:23
Jordan Khoo worth to invest
13/08/2018 11:46
property Seri Kembangan, a budding suburb
https://www.theedgemarkets.com/article/seri-kembangan-budding-suburb
http://huayang.com.my/project/
14/08/2018 02:34
tehsowgeit Don"t expect any good news this yr, wait until next yr....
27/09/2018 00:27
Perakian Buy more when cheap.
16/10/2018 04:05
Perakians New/upgrade Perak airport can boost tourism, job opportunity and lastly housing needs.
19/10/2018 23:35
Perakians Perak to build new international airport
https://www.malaysiakini.com/news/448121
19/10/2018 23:36
Val-Elta QoQ eps increased by 86% and unbilled sales goes up by 25% from 200m to 250m.

Completed but unsold property reduced by 15% too..

The numbers are getting healthier certainly the eps does not warrant the 52week low price
24/10/2018 19:34
drkervokian @Val-Elta , investor confidence is shot with Huayang. The only way it'll return if there's internal share buy back followed by dividend announcement.
31/10/2018 16:10
Val-Elta Budget 2019 seems slightly positive for developers?

Got some stamp duty exemption for first time buyers/the unsold overhang mentioned by LGE...
But negative also because of rpgt...

Overall, unsure if its net positive or not.
02/11/2018 19:12
Val-Elta Most of the insentives, is targetting the market that HY is in, ~ 300-500k range. I'm no expert, but the initial feedback from some experts seems to suggest that it's a beneficial/supportive budget for the housing sector..

For example
http://www.theedgemarkets.com/article/property-sector-biggest-winner-budget-2019-says-maybank-chief

Maybank CEO says property sector is the biggest winner from this budget.. but dunno how true it is la.

But... even assuming a small net benefit, I guess some good news is better than no good news at all, and among all property developers, HY do indeed stand to benefit the most from it, vs other more high end developments
02/11/2018 22:03
trulyinvest Mana ada good news. In fact many developer oredi ofer free stamp duty for snp n loan n mot even b4 budjet. Doesnt entice me to buy for investment. Somemore got rgpt. Skrg mana ada property less than 500k? Adalah mayb ulu ulu place
02/11/2018 22:07
James Ng https://klse.i3investor.com/blogs/general/182287.jsp
[转贴] [HUA YANG BHD:拥有466英亩未开发的土地储备,估计GDV为53亿令吉] - James的股票投资James Share Investing
14/11/2018 11:58
huayang_ Magna reported higher profit is good news so next QR Huayang can report even better QR?
23/11/2018 05:45
Perakian Support MB to build new airport in Seri Iskandar.
27/11/2018 05:22
Perakian No conspiracy to topple Perak MB — Nga
https://www.theedgemarkets.com/article/no-conspiracy-topple-perak-mb-%E2%80%94-nga
27/11/2018 05:23
drkervokian Nice. Someone dropped enough share to hit 30 cents
05/12/2018 12:02
yiniugongxiong HUAYANG 5062 INFORMATION OVERVIEW 1
http://yiniugongxiong.blogspot.com/2018/12/huayang-5062-information-overview-1.html
10/12/2018 18:36
runningbear Selling before this share drop below 30 cents. Very possible to happen in next 2-3 months
14/12/2018 16:51
huayang_ Please sell so so that I can buy more. Recent 30 sen should be rock bottom.
17/12/2018 03:45
commonsense The company profit dropped substantially in FY18 when it managed to only record a full year profit of only RM4.4mil vs RM61mil in FY17 and RM110mil in FY16. For 1H19 the group only managed to deliver a profit of RM2.9mil (of which RM1.6mil is from forex gain. Core net profit is only RM1.3mil). FY19 is also expected to deliver very mediocre profit given management decision to focus more on clearing existing inventories (RM66.5mil) and on-going projects rather than pushing sales from new property launches. This is normal given the current weak property market sentiment. Only when market improve will the company consider to make any new property launches of which the biggest will be Puchong Horizon with an estimated GDV of RM2bil (but it will not be in FY19 or FY20). So, any bump up of earning will only be seen in FY21 the earliest (if property market improves).

Assuming the company manage to achieve a core net profit of RM6 mil in FY19 (average 3Q & 4Q profit to be around RM2.4mil per quarter), at the current share price the company is valued at more than 20x PE which is really high for a property company at the moment.

In terms of balance sheet, the group has a higher debt level when compared to other small & mid size property developers. As of Sept 18, the company has an accumulated debt of RM472mil (of which RM155.2mil are short term debt) and only RM14.7mil cash. Net gearing is currently at 75%. The company need to increase its cash reserves quickly given that there is a short-term debt obligation of RM155.2 mil to be paid soon. Any debt refinancing decision will affect its bottom line even further given the increasing interest rate trends (company will pay higher financing cost in the future).

That being said the company is only trading at a PB valuation of 0.2x. Given the earnings uncertainties, this company might be a good candidate for investors with a longer investment horizon (more than 5 years).

If you are looking to diversify your portfolio outside of Hua Yang (due to earnings weakness in the near future) I would recommend you to look at MBMR.

MBMR is a direct proxy to Perodua via its 22.6% interest in the company. Valuation is cheap at only 6.5x PE (based on target FY18 PATAMI of RM145mil. 9m PATAMI is already RM106mil). PB is low at only 0.6x BV. 4Q18 results is expected to be higher than 3Q18 and last year's 4Q17.

For FY19 growth will be driven by the still high demand of new Myvi and the newly launched SUV and also the new Alza in 2H19.

Please go through the analyst reports (https://klse.i3investor.com/servlets/stk/pt/5983.jsp) and do your own analysis before making any decisions. Most analysts have a TP of above RM3 for the company with Hong Leong being the lowest at RM3.13 and Maybank the highest at RM4.50.

Good luck.
11/01/2019 12:23
Perakians Housing(incl affordable) projects in/near Cameron Highland to get PH attention?
14/01/2019 09:52
henry8888 New airport in Perak?
15/01/2019 15:30
henry8888 New airport new Cameron Highland to boost tourism?
15/01/2019 15:32
Undi_PKR New airport near Cameron Highlands to boost tourism and property market?
15/01/2019 15:35
henry8888 Hua Yang reports RM5.7m 3Q net profit on better pricing strategy
https://www.theedgemarkets.com/article/hua-yang-reports-rm57m-3q-net-profit-better-pricing-strategy
24/01/2019 01:31
Val-Elta Kenanga not increasing TP, those bastards @@
24/01/2019 10:18
sasword Agree, mbmr better and stable
30/01/2019 11:13
property Rakyat mesti miliki rumah mampu milik - PM
https://www.bharian.com.my/berita/nasional/2019/02/531802/rakyat-mesti-miliki-rumah-mampu-milik-pm
17/02/2019 22:21


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