Despite recent cooling measures by the government to curb speculative activities in the property sector, Land & General said it is "confident in sustaining its current performance for the coming two quarters as the development from its on-going projects have secured locked-in sales and are on schedule".
L&G has been growing its bottom line in double digits for the past 4 financial years, save for FY2011. In 9MFY2014 alone, the property development net profit more than tripled to RM33.52m on the back of RM229.96m in revenue
The research house says L&G landback is grossly undervalued. It adds that the property developer's net book value for its landbank for future development is RM111.8m, However, the market value for L&G landbank came to a total of RM890.8m. A prime example would be Bukit Damansara clubhouse, which had a net book value of RM2 psf(gosh!!!) against the market value of RM250 psf. HDBS notes L&G has unbilled sales of RM800m which is 4 times greater the revenue generated by the company's property development segment in FY13. This does not include its future launches that have a total gross development value of RM1.5 billion
Malhi Diljit, if u have holding power u can buy 0.475 now,surely will sky rocket up once quarterly result out next month, if u wanna play contra, u gonna have to seek advise from the ta guys to read the chart
L&G has been making some serious attempts to overcome the 50 sen barrier. It should succeed in overcoming the 50 sen barrier within the next few trading sessions.
I re-entered at .47 today after exiting at .49 last week. My personal believe is that the co ing quarterly result will be another good one. worse come to worse hold...
L&g sent me an invitation for their EGM. I don't understand what they write..it's about a joint venture with Malaysia land snd bhd to acquire a piece of land worth 111M. Please all agree to this. I think they ran out of land.
Good sign for me as the management is already thinking about locking in the profit 5 years or so from now rather than sitting idle there. Buy land - development - sales - profit - shareholder equity increases. Everyone happy. Just my opinion.
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Posted by Foresight123 > 2014-01-18 20:14 | Report Abuse
Despite recent cooling measures by the government to curb speculative activities in the property sector, Land & General said it is "confident in sustaining its current performance for the coming two quarters as the development from its on-going projects have secured locked-in sales and are on schedule".