Went to KK a few weeks ago. IMAGO looks magnificent. IMAGO competitor, Oceanus Waterfront look a bit empty. I do hope quarter report beats the odds and break all time profit record.
as I was commenting early...usually if the Qtr results are good...eg ending June, the price would be moving upwards...by July. In this case it was downwards...So not unexpected the June Qtr is bad...Did not expect it to be so bad....
Roughly read the report, matched with the explanation given by management. I copied out some content in the report only, please read thru the report and interpret it urself.
For the current quarter under review, the Group recorded a lower revenue of RM21.1 mil as compared to preceding year corresponding quater of RM61.8 mil. The lower revenue in current quarter was mainly due to lower revenue recognised by the property development division for the projects at KK Time Square2, Dataran Larkin and Fortune Perdana as compared to the preceding year corresponding quarter.
The group recorded a loss before tax of RM6.9 mil in the current quarter as compared to profit before tax of RM7.7 mil in the preceding year corresponding quarter. the loss before tax in the current quarter is mainly due to lower revenue recognised by the property development division, higher operation and finance costs incurred for the Mall as compared to the preceding year corresponding quarter.
Compared the 2015 and 2014: Property development 14,862 60,558
Prospect: The Imago Mall at Kota Kinabalu, Sabah was officially launched on 28 March 2015. The Mall Operations will be an additional contributor to the Group results besides the existing Property Development Division and Car Park Operation in the current financial year. ....we are confident that the results for the current financial year to be favourable.
Already said that don't expect the mall the make profit, based on Hunza's Gurney Paragon will only breakeven after one year in operation. Mall rental of 5.4mil is actually not bad.
agree with pala0808, and sean 08 hold and see the next few quarter result, target holding at least 2 year based on initial target, and prepare to top up
What's worrying me is the property development division. Hope revenue will pick-up in coming quarter when it starts to realize sales from Kepong project which is at it's early stage now. It seems offering free parking at it's mall. Is that a common practice in all the other malls in Sabah?
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....
N00b
380 posts
Posted by N00b > 2015-08-25 11:01 | Report Abuse
Still here... Shorting the market and waiting for discounts.