Icon8888 Gossips About Stocks
(Icon) Eupe Corp - Small Market Cap, Huge GDV
Executive Summary
(a) Driven by a whole host of factors, the Malaysian property industry has not been doing well since second half of 2014. Instead, many investors shifted their attention to export oriented companies.
(b) However, I have not given up entirely on the industry. I always have a soft spot for small cap property developers. Unlike big developers with multi billion revenue and / or net profit to worry about, small developers can survive by getting one or two small projects right. Small market cap is also more conducive for high growth.
(c) I have been eyeing Eupe since April 2014 when it announced that it is venturing out of its home turf, Kedah into Klang Valley. They bought three small parcels of land in Bangsar South, Cheras and Seputeh respectively. This has generated some interest among investors. However, I have decided not to invest in the stock at that time as I believed it was still early stage.
(d) Fast forward to 2015. The company recently started advertising in newspapers about their projects in Bangsar South and Cheras. I took a closer look and discovered that both projects are located near LRT stations. It is too early to say how well they will do. But I guess being closed to LRT stations does make things a bit easier.
(e) The company has 50% and 70% equity interest in Bangsar South and Cheras project, with GDV of RM460 mil and RM260 mil respectively. As such, effective GDV for the two projects is approximately RM412 mil. On top of that, the group has 1,000 acres landbank and several development projects in Kedah and also few acres of land in Seputeh, KL.
(f) I bought into Eupe because of its potential. As at the date of this article, the company has market cap of slightly more than RM100 mil. It reported net profit of RM11.2 mil over past 12 months. If the projects work out well, there is decent chance that profit will grow by leaps and bounds (I will leave it to your imagination).
(g) If you are interested in this stock, I would suggest that you take your time to slowly build up position. There is no need to hurry to chase the stocks. It will easily take another, let's say, 9 to 12 months to see development profit slowly trickling in.
BUY AT OWN RISK
Eupe Corp Bhd (EUPE) Snapshot
|
Open
0.84
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Previous Close
0.83
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|
|
Day High
0.84
|
Day Low
0.84
|
|
|
52 Week High
04/23/14 - 1.10
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52 Week Low
03/2/15 - 0.70
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Market Cap
107.5M
|
Average Volume 10 Days
40.7K
|
|
|
EPS TTM
0.09
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Shares Outstanding
128.0M
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EX-Date
11/11/14
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P/E TM
9.3x
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Dividend
0.02
|
Dividend Yield
1.79%
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The group has strong balance sheets. With net assets of RM281 mil, loans of RM47 mil and cash of RM19 mil, net gearing is approximately 0.1 times only.
Annual Result:
| F.Y. | Revenue ('000) | Profit Attb. to SH ('000) | EPS (Cent) | PE | DPS (Cent) | DY | NAPS |
|---|---|---|---|---|---|---|---|
| TTM | 184,182 | 11,599 | 9.06 | 9.28 | 0.00 | - | 2.1900 |
| 2014-02-28 | 186,119 | 12,923 | 10.10 | 7.73 | 2.00 | 2.56 | 2.1300 |
| 2013-02-28 | 146,638 | 14,845 | 11.60 | 4.49 | - | - | 2.0500 |
| 2012-02-29 | 143,052 | 7,771 | 6.07 | 8.57 | - | - | 1.9300 |
| 2011-02-28 | 124,166 | 4,980 | 3.89 | 12.86 | - | - | 1.8800 |
| 2010-02-28 | 108,685 | 3,591 | 2.81 | 18.15 | - | - | 1.8400 |
Quarter Result:
| F.Y. | Quarter | Revenue ('000) | Profit before Tax ('000) | Profit ('000) | Profit Attb. to SH ('000) | EPS (Cent) | DPS (Cent) | NAPS | |
|---|---|---|---|---|---|---|---|---|---|
| 2015-02-28 | 2014-11-30 | 40,878 | 6,866 | 3,392 | 3,435 | 2.68 | - | 2.1900 |
 |
| 2015-02-28 | 2014-08-31 | 46,669 | 4,111 | 3,506 | 3,544 | 2.77 | - | 2.1700 |
|
| 2015-02-28 | 2014-05-31 | 46,602 | 1,531 | 815 | 731 | 0.57 | - | 2.1400 |
|
| 2014-02-28 | 2014-02-28 | 50,033 | 5,671 | 4,043 | 3,889 | 3.04 | - | 2.1300 |
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| 2014-02-28 | 2013-11-30 | 52,705 | 6,339 | 3,475 | 3,243 | 2.53 | - | 2.0800 |
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| 2014-02-28 | 2013-08-31 | 46,681 | 5,331 | 4,052 | 4,244 | 3.32 | - | 2.0700 |
|
| 2014-02-28 | 2013-05-31 | 36,700 | 2,709 | 1,774 | 1,547 | 1.21 | - | 2.0600 |
|
| 2013-02-28 | 2013-02-28 | 31,219 | 5,704 | 3,269 | 3,103 | 2.42 | - | - |
 |
(The Weave, Cheras. GDV RM260 mil)
(The Weave, Cheras)
(Novum, Bangsar South. GDV RM460 mil)
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| Chart | Stock Name | Last | Change | Volume |
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Discussions
6 people like this. Showing 50 of 109 comments
Hi ! Master Icon, pls cook your self a Sea cucumber with Chili & Dry squid before publishing The Hi-Bright sun shine P.2 . So, Sun shine will follow suit be the 2016 第一炮 flying to the sky. This time with d cook fotos. That a fingers lickin good.. yummmy...
2016-01-03 22:21
ya ya, I havn't forgotten...
just a bit busy..
I am busy with "Clash of Titans (Part 2) - Ooi Teik Bee Demystified"
2016-01-03 22:25
Enjoy writing and cooking together, will it be more inspiring ? Juz joke, tKe your time no rushing. Good articles are like Tasty foods.. :)
2016-01-03 22:34
The second GOB coming. Just to remind all, icon picked gob which makes most lose 50%
2016-01-03 22:37
Don't come here to con us la.
We know what is seacucumber and what is cucumber la.
Whoever see the location of the property already know the value of the property.
U tell me any project that is delay in KL?
Don't be silly boy.
2016-01-03 22:40
U go to the sales gallery. Check the price first only tell us whether it's high end or not.
Eg , Jalan Kia Peng is high end.
Don't think the developer are fools.
U know oil and gas collapse ; u think they don't know ah?????
2016-01-03 23:03
sifu icon..........one can tell a BUY story for every small cap property share in Malaysia but should not.....
avoid like the plaque unless you want your money stuck.
2016-01-04 02:18
thank you Desa the know it all who has read many investment books
if you are so good, why do you still need paperplane to tell you that Chin Well is owned by Taiwanese ?
saupei lah...
Posted by Desa20201956 > Jan 4, 2016 02:18 AM | Report Abuse
sifu icon..........one can tell a BUY story for every small cap property share in Malaysia but should not.....
avoid like the plaque unless you want your money stuck.
2016-01-05 20:21
Only Great Master capable of finding the hidden gem. Those who cannot appreciate one will only realise later. I can't help them. Sorry. By the way the sales seems be very good and construction work already started.
2016-01-05 20:30
Young man, property not exactly very hot, no need yell here loud loud, you will get yourself into trouble
Why do u want to dig out such a counter at this time ? Just lay low lah bro...
2016-01-05 20:37
Little boy, wheres your article. Busy tokok only
Posted by KoonBee1 > Jan 5, 2016 08:40 PM | Report Abuse
Now not the time for property...i only dare to buy ewein at this market
2016-01-05 20:41
Wakakakaka. Not like you. Fook ugly face
Posted by soros228 > Jan 5, 2016 08:43 PM | Report Abuse
The photo is tycoon looks. Hahahaha.
2016-01-05 20:44
Tong tong tong. Threaten to publish article but until now still hiding and crying like baby. Wakakakakaka
2016-01-05 20:45
By the way, anyone know how to remove the black bar on the eye of a photo? Any software can help to remove it?
2016-01-05 20:47
Wakakakaka. Careful now. You looking at million dollar sue for using unauthorized use of person photo.
2016-01-05 20:51
I want to look for more Taiwanese and Singaporean owned companies listed in KLSE...they will perform very well this year.
Small cap property shares?
Touch and get money stuck, no matter what they tell you.
".........
Posted by Icon8888 > Jan 5, 2016 08:21 PM | Report Abuse
thank you Desa the know it all who has read many investment books
if you are so good, why do you still need paperplane to tell you that Chin Well is owned by Taiwanese ?
saupei lah...
2016-01-05 21:00
if you are so good, u don't need to ask people lah... go figure out yourself loh
2016-01-05 21:08
Wakakakaka. Cool bro. You so angry if Paperplane name mention. He is so much better.
2016-01-05 21:10
paperplane is nasty, but at least he knows his stuff, this desa pop out of nowhere and know nothing about malaysia stocks, yet he threw his weight around as though he is warren buffett
2016-01-05 21:20
Let me remind you all about GOB again! Worst pick by icon so far beside bintai! Good luck.
2016-01-06 00:15
Time will prove everything.
"Be a writer of your life and reader of your mind........
The more u know about yourself, the less u need approval from others......."
Morning.
2016-01-06 10:15
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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....
soros228
Char Kueh Tiow with seacucumber. Hahahahaha.
2016-01-03 22:09