Bursa Malaysia Stock Watch
HSL (BUY) - Samariang land bank coup
kltrader
Publish date: Wed, 07 Mar 2012, 10:32 AM
kltrader
0 20,638
This blog provides consolidated Bursa Malaysia stock market research, analysis, news and blogs from various sources. You can search and find all the past analysis and coverage on stocks and news by searching within this site. While this blog re-publishes contents from other sites, it does not own the rights nor responsible for the accuracy of the contents. If you disagree to your content from being published here, please add a comment, and your article will be removed from this site.
HSL (BUY)
Samariang land bank coup
Entered into a S&P Agreement with Projek Bandar Samariang for thepurchase of a 275.5 acre land in Kuching's northern township of Samariangfor a total cash consideration of RM25.5m, equivalent to ~RM2.10/sq ft. Thelatest acquisition will enlarge HSL's existing land bank to a total of 890acres.
We belief that it will do well due to the positive spill over effectfrom Samariang Aman. The latest land deal will ensure continuity in HSL'sproperty launches in Samariang area.
GDV is estimated to be worth ~RM700m and the development is expected tocommence in 2013 and will span over a development period of 6 to 8 years.
The acquisition price of ~RM2.10/sq ft looks attractive compared to themarket price of ~RM5/sq ft for the area. Overall, land cost-to-GDV ratio is~3.6%, hence increasing the development's feasibility and success rate as wellas profitability.
By assuming a 10% discount rate over 7-years and 25% net profit margin,Samariang Aman 3 will translate to 16 sen/share for HSL.
Forecasts remain unchanged, hence maintain TP of RM2.21 based on12x average FY12 and FY12 earnings.
Source: HLIB Research 7 March 2012
Related Stocks
| Chart | Stock Name | Last | Change | Volume |
|---|
Market Buzz
More articles on Bursa Malaysia Stock Watch
Tambun Indah - The 2nd Penang Bridge To Narrow Property Price Gap
Created by kltrader | Oct 11, 2012
Plantation ' Share Prices Not Reflecting CPO Price Movement ' Is A Correction Coming? (Neutral)
Created by kltrader | Oct 11, 2012
Discussions
Be the first to like this. Showing 0 of 0 comments
Post a Comment
Featured Posts
Latest Videos
Apps
Top Articles
1
2
BFM Podcast
3
BFM Podcast
5
BFM Podcast
6
Good Articles to Share
China’s chip advances stall as US curbs hit Huawei AI product
7
BFM Podcast
8
BFM Podcast
#
Stock
Score
Daily Stocks
Stock Name
Last
Change
Volume
Stock Name
Last
Change
Volume
Stock Name
Last
Change
Volume
Featured Advertisers / Partners
Ride The Bull Short The Bear
CS Tan
4.9 / 5.0
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
