Property sales of Paramount

2016 RM420mil
2017 RM842mil
2018 RM1,000mil (Target)

What else can we expect from the management? They are doing extremely well.

KSL Holdings to relaunch high-end condominium at Jalan Madge, Ampang.

http://www.theedgemarkets.com/article/ksl-holdings-relaunch-highend-condominium-jalan-madge-ampang

There are still values for 3 properties in Damansara City that can be unlocked. Sofitel Hotel, DC Mall and Guocoland Building will be sold to its related Tower REIT from now to 2 years time. Guocoland will book profit once they are sold.

PCB will be more and more efficient and profitable. The new CEO is doing a lot of strategic moves. Selling the education assets and the not immediately developable landbank to reduce the company debts and save on interest payments. The sales also unlock the values of the properties. In addition to that, PCB also works with Selangor State to develop RM1bil project near to Asiajaya LRT Station. The CEO is working hard and the future profits will increase.

Tony is a veteran trader. Very hard to know what is his plan. When we think that a particular move that he should take next, but he thinks much deeper than us. We think that he should list the REIT now, but he may want to keep on accumulating at this low price.

Khat1234, don't 360 degree changed. 180 degree enough. What you said is true, but up or down depends on Danny. For Trop, all the Financial Analysis and Technical Analysis don't work. Danny has more than 72%. If your offshore fund comes, Danny put 10% into market. How much the offshore fund can afford.

Nikicheong, what is the growth story in Indochina that you want to talk abt? How abt their new model launching in Malaysia? I do not see any new model launched thus far this year.

How you know so much about Danny?

I think Symlife should not sell the Taman Midah land. Symlife should negotiates with Tesco and should even compensate Tesco to get back the land early. Even if it has to pay back the amount of RM30mil (RM80/sq.ft.) that Symlife received earlier, it is still worth to do that. The location of the land is too good to part itself from it.

Danny has 72%. Off shore can play with Danny? Off shore will be swallowed by Danny at the end.

There is no big launchings from Guocoland for the last 18 months. Emerald West is still selling "The Rise" which was launched 3 years ago. Comparing to other developers like Sunway, MKH, Tropicana and Ecoworld, Guocoland is very passive.

Looks like Khat1234 is losing confidence in Trop. He only commented 2 times today.

Khat1234, you are like MagnumTotoDamachai. You always give ppl hope when everybody lost confident entirely. Let us hope that it is true this time. Offshore investors will bring the price up to RM1.90 this time.

Anyone knows what is the MOU that YTL signed with China?

For Tropicana, all the financial analysis that you do is useless. They don't follow the EPS, NBV, Dividend Yield and Return On Equity that you learned from schools. It only follows one thing, Danny's order!

From the site progress, we can see that Twy and Star are still at the initial stages of construction. Twy is still at ground level and Star is still at the level less than 10 storeys tall. Bigger amounts of profit will come in at later stages of construction especially when the projects are completed. This FY17, Symlife is making EPS of 11.23 sen. The profits will increase progressively at least for the next 3 years as the developments move to advanced stages.

It depends on land cost, efficiency and effectiveness of the developer involved. Symlife, MKH, KSL and Paramount are among the efficient and effective developers in controlling their fixed costs and operating costs. These companies are able to achieve 25% to 30% net profit margins.

Everything looks promising. Star Residence, Twy Mont Kiara and Union Suite Sunway are selling well. Symlife has sales of more than RM1.2 bil as compared to its market capitalisation of merely RM325mil ( Shares outstanding : 310mil). We assumed that the net profit margin is about 30% and the project will be completed in 3 years time, these 3 project will bring in more than RM400mil net profit. Average EPS will be about RM0.43 per share for the next 3 years.

Goodguess, your saying that major shareholder is waiting for KSL-CG to expire has some basis.

Goodguess, what do you mean by RM120 million to company upon conversion?

Dusti, hope that this time both of us will have good returns.

Look at the STP2A reclamation work in progress as at 29/4/17 with the following link.

http://www.skyscrapercity.com/showthread.php?t=552100&page=15

We are yet to see how much the new MD, Mr. TC Kok can bring to the company. Hopefully he can lead the company to the right direction and focus on the right things. The previous deputy MD, Eric Chan was too weak and caused few years delay to the reclamation of STP2. Should he been doing his job well, STP Phase 2A should have been completed by now and the share price should be more than RM3.00 at this time.

Getting a new master developer will definitely delay the whole development. IWH-CREC have already worked on the design and planning for the last one and a half year. The first phase is supposed to be launched by end of this year. But now, the probable master developer, Dalian Wanda has not even signed any agreement with TRX yet. The whole project will definitely be delay for at least 2 years.

News never say Tropicana is working with Dalian Wanda?

Dusti, everything that I have said earlier remained valid. E&O is a good long term investment counter.
Recently, the management intends to sell off some development land and properties in Malaysia and London. This proposed sales is positive news for E&O. It is better to monetise some less strategic properties to fund the massive STP2 reclamation. Once the land is reclaimed, the company is actually making profit as the value of the land has increased (market value - cost of reclamation and land title fees). Some ppl like KYY does not see this as profit but I do not agree.

Khat, from where you heard the news that Trop is involved in Bandar Malaysia? The amount of fund involved is so huge that it is beyond Trop's capability?

Booth also good.

TAGB is vastly undervalued. Firstly, the share price of TAGB is way below the NTA of RM0.54. Secondly, the published NTA of RM0.54 is based on the historical purchase price of the land and properties. All of them are not revaluated to reflect the current market price. The Revised Net Asset Values based on current market property prices should be more than RM1.30 per share.

TA as the parent company which holds 60% of TAGB is also hugely undervalued. Further to this, TA's securities arm is also making a few times more profit as the share market has been sizzling hot for the last few months as compared to the last two years.

Singh 1, off course TAGB is vastly undervalued. Firstly, the share price of TAGB is way below the NTA of RM0.54. Secondly, the published NTA of RM0.54 is based on the historical purchase price of the land and properties. All of them are not revaluated to reflect the current market price. The Revised Net Asset Values based on current market property prices should be more than RM1.30 per share.

If the land is sold, it will be positive news for both TA and TAGB. The proceeds will bring down the debts of the company. There will also be gain on disposal to increase the company profit.

If the land is sold, it will be positive news for both TA and TAGB. The proceeds will bring down the debts of the company. There will also be gain on disposal to increase the company profit.

The Tebrau land is still submerged in the water. Need to be reclaimed. I doubt Greenland is paying RM2.37 billion for something that can not be developed yet.

Still waiting for the Sydney land sales status from the management.

Still no news about the Sydney land sales.

Stockker, your analysis is quite correct. If BCB is just planning to develope landed properties and some shops in this area, it will be more profitable to just sell away the land and BCB will make more money. Furthermore, the profits is realised immediately.

This area is already quite matured and the land is suitable for developing more value-added high rise condo, office and retail development.

Datuk Edmund Kong has been in the CEO post for one and a half years. It is about time the results of his works starts to show. Hope for good results from this property development veteran. Datuk Edmund Kong is the man who crafted Desa Park City. May be he can craft Emerald West into "Emerald Park City".

Michael, there are a lot of people being trapped during the run up to RM2.20 in 2013. Many of them are still holding on to their shares until today. It is still a very long way from their purchase price.

This is the counter that is hardest to make money. In 2007, the share price was about RM1.00 and 10 years later, it is still the same at RM1.00.

If you read the price chart for the last 10 years, Trop has only gone up two times. The first time in 2011 and the second time between the period of 2013 and 2014. The price will not move unless the major shareholders allow it to move. It is entirely depending on the major shareholders.

Thks! Luckyman.

Valueseeker, where is the exact location of the 90 acre land in Danga Bay? Is it near to Country Garden site or Tropicana site?

True! The earnings from the securities department will increase many times for the last 2 months. If the market turns into a bull run, securities company will be doing extremely well. There will be a lot of contra players that will bring in roll over charges and DF fees. I thk the profits for the last 2 months in the securities department has increased by at least more than 800%.

Khat, It is true Tropicana very good share. But Tan family wants to pay us high price to buy the shares in our hands? Will Tan family do that?

Good reference to different kinds of boat. Learn something today.

Dusti, I will see how the reclamation and development progress. At this moment, everything goes well. Strategic partner secured. I think more plots will be sold to other developers. E&O will not develope the whole area by itself. They will sell some plots and let other developers join force to speed up the development of the whole area.

Max Foo, you are right. 90s is the craziest. The bull runs in 93 and 96 saw many stocks traded at many times their real net worths. Most property stocks were traded at more than and some at a few times their RNAVs. However, nowadays the property stocks are all trading below their RNAVs.

That is why I said, the property stocks are very cheap nowadays. RNAV is the real worth of the stocks especially to a property stock. It is like a situation

A link house with market price of RM1 million. It is changing hands in the market at RM325k, then 327k, then 325k, ...... It does not make sense.

I think 10% to 20% discount to RNAV is possible, but not 60% to 70%. That is the reason we can see a lot of privatisations taking place in the market. To name a few, Hunza, OSKProp, PJDev, IGB, and still counting.

KYY had wrote about property counters. He just looked at PE Ratio but never consider about the RNAV at all. Let us look at a situation. If he wants to sell his properties, I don't think he will price them at 10 times the rental income (PER : 10 times). He will definitely want to sell them at the market price (RNAV).

The same goes to a lot of research houses. They just simply give a target price that is sometimes unreasonable but the target price will be adjusted upwards (a few times in some occasions) when the price moves up. for example, from Kenanga's Reseach

KSL, RNAV = RM7.07, Target Price : RM1.30, Discount : 82% from RNAV

The target price is so low and unrealistic. Look stupid. Just 18.4% of the real value. This is really misleading.

http://cdn1.i3investor.com/my/files/dfgs88n/2017/03/21/1485850852--559830659.pdf

Dusti, I am sharing something that I know. It is good that one has his own target price. Nobody can know how high a stock will go or whether it will go up or not?

Agree with you 360Capitalist. Nobody in the Penang CBD (Georgetown) including Gurney Drive and Tanjung Tokong has land size of more than 100 acres. Therefore, E&O will be the biggest land owner in the CBD area with 760acres after the land reclamation is completed.

In fact, the Penang Government had estimated the land at RM1,300 / sq ft when they renegotiated with E&O on the reclamation two to three years ago. I would say this RM1,300 sq ft is reasonable estimate when the whole reclamation work is completed in 2022 ( 5 years from now). Meanwhile, when the first island is completed next year, it should worth between RM 800 to RM1,000/sq ft.

Windcloud, I knew KSL has a piece of land in Jalan Kapar but I do not the details. Do you know the location and the land size?