LAND & GENERAL BHD

Background:

A property and development company(which also involving in Education and other segments like plantations, hospitality and part of oversea development in Australia) 

1. Why should we quick glance of this company?

- High ROE, PE <10, and got dividend!

- Huge cash flow(Total of 363mil of cash and not to mentioned the inventories, receivables and the tax that the company going to get back)

363mil/1078mil of shares =  33cents of cash per share

This means paying 41cents(current share price) to owned 33cents of cash and 8cents worth of stocks!

Anyway, this does not mean anything but obviously this counter is undervalued! 

Besides, the health financial reports and the growing revenue speak louder than words!

2. Future developments:

- Astoria Project(GDV of 845mil)

- Foresta Phase 2(GDV of 490mil)

- Landed residential(GDV of 280mil)

- so on...

*btw, don't forget their NTA of around 60cents(which considered the share is also trading at 35% discount of current price)

There are few things to take not about the company are:

- weak property market sentiment

- material mitigation(late completion of project)

- not to forget the low debts of 85mil

- ICULS will also dilute the EPS in future

Property is expensive now? perhaps considering invest in the company with cheap price? 

*I do holding L&G shares but I just wanted to share what is noticed, it's not a buy/sell call as just for reference only