UOA was listed at about RM2.50 last year. UOA is one of the largest high end developer in the country. At the listing price is has a market capitalization of RM3 billion. It is now trading at its NAV of RM1.50. That mean it is trading at one time book value. Thats a 40% discount from the listing price. Lets assume UOA was never listed in the first place and assume it is going for listing tomorrow at RM1.50. It will be at one time book value and 7 times current PE (2011). My guess is that it will be like one hundred time oversubscribe. Based on 10c div proposed, gross div yield is 6.67% at RM1.50. The last time the stock run up from RM1.20 to RM1.70 (within fews day), EPF took the chances to unload its holding from 10% to about 5% now (dont ask me why they buy high and sell low)(I cant explain stupidity). And the share price advance has been stunted partly bcoz of this i think. The good news is UOA started buying back again. And the earning numbers are still good, we will see whether they can make it to two. I surely hope it wont take long.
Stock: [UOADEV]: UOA DEVELOPMENT BERHAD
2012-02-29 23:09 | Report Abuse
UOA was listed at about RM2.50 last year. UOA is one of the largest high end developer in the country. At the listing price is has a market capitalization of RM3 billion. It is now trading at its NAV of RM1.50. That mean it is trading at one time book value. Thats a 40% discount from the listing price. Lets assume UOA was never listed in the first place and assume it is going for listing tomorrow at RM1.50. It will be at one time book value and 7 times current PE (2011). My guess is that it will be like one hundred time oversubscribe. Based on 10c div proposed, gross div yield is 6.67% at RM1.50. The last time the stock run up from RM1.20 to RM1.70 (within fews day), EPF took the chances to unload its holding from 10% to about 5% now (dont ask me why they buy high and sell low)(I cant explain stupidity). And the share price advance has been stunted partly bcoz of this i think. The good news is UOA started buying back again. And the earning numbers are still good, we will see whether they can make it to two. I surely hope it wont take long.