But don't you realise in the last 2 trading days, profit making also no use. . Price goes down... some loss making company... price goes up... nonsense and doesn't make sense anymore
The property division posted an operating profit of RM8.80 million (3Q2015: RM9.15 million) on the back of a revenue of RM33.43 million (3Q2015: RM39.75 million), arising from the continued progress of construction work of Damansara Foresta.
Meaning the revenue from vacant possession of Damansara Foresta phase 1 will be in the next quarter and not this quarter. No worries at all...
there is rumour said country garden will offer 1:1 share injection to be a major shareholder of l&g. since mayland and country garden are abang adik, as a major shareholder of l&g, mayland will agree the offer. country garden will inject some of current properties project into l&g. l&g will be rename into mayland country garden. two big property player will brings malaysia property into mainland china market
L&G's trade and other receivables ballooned to RM398 mil as of 31.12.15. Does this mean that the company has yet to receive and recognize a lot progress billings from its Foresta project which was completed recently? Can any accounting sifus or accountants help to analyze and enlighten members in i3? Thank you.
(hoping to gauge its profit for the 4th quarter ending 31/3/16...)
Sharp eyes .. I saw that too and because it doesn't have notes to the accounts, I am guessing this is construction work in progress.... and yes, it would only be damansara foresta. Construction work in progress will eventually be turned into revenue (via progress billings) and once the bankers release final drawdowns, you will also see cash and bank balances ballooning. The next quarter is going to be very interesting. Significant revenues recognised.. and a big cash pile. I foresee dividend will also be declared during that time....
As L&G share price down to rm0.34 which worth to have a second look. Base on its latest Q report, by paying rm0.34 per share, you can own a rm0.25 (276mil/1092mi) cash per share; and rm0.39 worth of stocks( (35mil+398mil)/1092mil) per share Total worth rm0.64 per share!! Even the property market is not good. It is till worth to invest in L&G. If worse case the coming dividend is rm0.015 not rm0.02, it is still >4%! So, take opportunity to accumulate at low
The management should be phased out as they have been sleeping and taking their own sweet time in carrying out their jobs, Those projects should have been launched much faster and earlier!! Simply sleeping on their job! !!!!
I think the management is on their progress for all their projects as property market not so good nowsday and they need to walk very carefully each steps. If rush and introduce a lots of projects i think the market cannot digest it too.
valueinvestor L&G's trade and other receivables ballooned to RM398 mil as of 31.12.15. Does this mean that the company has yet to receive and recognize a lot progress billings from its Foresta project which was completed recently? Can any accounting sifus or accountants help to analyze and enlighten members in i3? Thank you.
(hoping to gauge its profit for the 4th quarter ending 31/3/16...)
Construction and developers can only recognize when VP has been delivered or reach certain milestone in their works. Damansara Foresta completion was in Dec 2015, hence most of if not all DF receivables would be recognize in Q1 2016. I also understand L&G is selling Astoria Ampang.
KUALA LUMPUR (March 16): AffinHwang Capital Research is “Overweight” on the property sector and said sector may reach an inflection point soon, premised on sustained economic data. In a note today, the research house said that coupled with strong balance sheet position, it sees limited downside risk to share price for companies under our universe. “Revenue will be suported by strong unbilled sales and new launches. “We are Overweight on the sector. For exposure to the sector we like UOA Development Bhd and Eastern & Oriental Bhd,” it said.
Hopefully the property market will recover 2nd half of this year.
KUALA LUMPUR (March 16): Mah Sing Group Bhd. said it is ready to buy more land after holding back in 2015, as the company predicts a rebound in Malaysia’s property sales in the second half of the year. The nation’s third-largest property developer by sales is seeing signs of renewed confidence from consumers as they move beyond negative reports on the currency and political developments, said Group Managing Director Leong Hoy Kum in an interview. The company has a record 1.4 billion ringgit (US$338 million) cash pile for land acquisitions, he said. “The market has stabilized," Leong said at his office in Kuala Lumpur Tuesday. "Every weekend is shopping time for me and sometimes I charter a helicopter to look at land the size of 500 acres to 1,000 acres.” Shares of Mah Sing have risen more than 7% from a 2013 low on Feb. 4. The stock tumbled 12% in 2015, the biggest annual drop since 2008, compared with a 7.6% slide in the Bursa Malaysia Property Index. Malaysian home builders have struggled since 2013, when the government started imposing stricter lending rules after cheap credit fueled a buying frenzy and helped contribute to record household debt in the Southeast Asian nation. Mah Sing is lobbying the government for more incentives to boost property transactions, Leong said. A goods and services tax, last year’s slump in the ringgit to a 17-year low and concerns over mounting debt at state investment company 1Malaysia Development Bhd (1MDB), worsened sentiment among buyers last year, amid the biggest housing glut in a decade. “We have reached the bottom of a downturn, and it will recover in the medium term," Leong said. "The bad news like 1MDB and the ringgit have already been digested, I don’t see anymore bad news coming out. It is back to work for everyone to focus on economic growth.” The ringgit has rebounded 3.8% this year, making it the third best-performing currency in Asia. Mah Sing is on track to reach its 2.3 billion ringgit sales target in 2016 and anticipates selling more “medium range to high-end properties” next year with the greatest potential in Kuala Lumpur, he said. The company wants to replenish its land bank, after it halted such purchases last year for the first time since 2005. “I know very well about all the good land in Kuala Lumpur,” Leong said. “When the weather is bad and turbulent you better don’t fly. Now the skies are clearer.”
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Posted by spectre007 > 2016-02-27 20:54 | Report Abuse
Busy deciding how much profit need to be announced ... whether put into this quarter or next quarter... no difference coz year-end is 31 March