The land on which the Development will be carried out have been owned by the Company since 2003. Based on the Company’s latest audited financial statement as at 31 December 2010, the carrying value of the land is RM8,278,000.
The Development, comprises two 38-storey blocks comprising 656 units of residential serviced apartment, is estimated to have a gross sale value of RM450,000,000. It is expected to commence in the first half of 2012 and will take three years to complete.
Expect its coming financial report showing an bigger profit. Its share is trading at 35cents only, that is 65% below its par value. Long term investor should buy and keep this counter !
If we add up the 96 million profit (that will fully paid in 4 year's) + cash in hand 9 million divide the outstanding share this company worth at least 0.35 cent per share after discount all asset and liabilities so basically we're paying for nothing if we enter now ;)
obucks ya , .325/33/345... will sell when in top 10 or 20 active list ,, old counter ,damn low pe ,hard to set tp .... just wanna hit and run or hold for a while ... tq
let them goreng for awhile first they just started cooking .... let them cook more like i said cash in hand is equivalent to 0.35 so if you're holding 0.35 and below you're pretty safe.
Janice if you're holding the stock below 0.35 guess you're pretty safe like i said before this company have CASH equivalent almost 0.35/share i've discount the land and building, but this company does have some potential where part of the land owned is near Senai Airport and if i'm not wrong also they've some land near Iskandar Johor if those reserve land been develop the price will definitely sky rocket.
The only downside of this counter is MANAGEMENT where if you look carefully the earning have been inconsistent.
NAV from this forum is 0.77 but i guess it won't hit 0.77
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
sephiroth
14,145 posts
Posted by sephiroth > 2013-02-22 09:29 | Report Abuse
This small co. reported RM95m in net profit(rev RM34m) NAV shoot up 27 sen to 77 sen q on q