KLSE Picks came to every counter to promote your own business ah? Why am I seeing you almost in every counter? Telling everybody how well you predicted the rise in JHM? Master Fong SiLing predicted this earlier than you. He became the substantial holder long before you predict anything...
This is L&G counter, where we believe it's share price will fly soon after getting good sales profit from Damansara project in its 1st quarter. Plz dun talk JHM here...
depends on your time horizon. If you can hold for a few years I think this is a good share at this price. They have net cash of about RM420m, which is about RM0.42 per share. I think buying at any price below that should be very safe. Dividend yield is 5%.
So it confirmed my understanding that last quarters high trade receivables have turned to Cash. If you see .. this quarterhas property development cost on the balance sheet... means there will be further progress billings soon. Next quarter may have another set of good results... maybe not as big as this quarter ... but definitely better than previous few quarters.
They have 420 mil net cash BUT they don have land...Sooner or later they gonna finish up the cash to acquire land to continue business...Land held for development is only ard 28 mil n its NTA is weak...So it is still not tat good buy as a whole...
It still has Astoria Ampang (GDV of RM800m), Sena Parc (GDV of RM600m) and Forests 2 & 3 (GDV of RM1 billion). It is also buying a land bank worth RM90 mil for landed development in Shah Alam.
Can't look at NTA of land. Their purchase price of the Sri Damansara land is really cheap. Only RM9 per square feet. Fair value of land in Sri Damansara is more like RM100/sq feet
Please read their quarterly report in future prospect column. They are looking for new land bank and maybe joint venture. Future product is good. Even mahsing got a lot cash they still looking for new land bank. Is normal thing in business to use cash to buy land for investment.
Cash in hand: 525M, borrowing 83M, Nett cash 442M. Share 1.09Billion i.e. RM0.405 cash per share while share price only 0.40 EPS: 0.0875, share price 0.40 PE 4.6 DY 5%
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CUTLOST
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Posted by CUTLOST > 2016-05-30 21:57 | Report Abuse
Gap up 40cts