Against all odds, the Group has quietly registered revenue and profit before taxation of RM164.5 million and RM72.7 million respectively for the current quarter ended 30 September 2016. This represents an increase of approximately 10% and 11% respectively over the results achieved in the preceding corresponding quarter ended 30 September 2015. Though it may report lower PAT for FY2016 as compared to that of FY2015, its profitability track record over the last 10 years has been fantastic and commendable. A blue chip property counter.
EPS for 9 months to-date: 14.98 sen. NTA: RM2.12
The current quarter’s performance was mainly contributed by the change in sales mixed and percentage of completion of the existing main on-going projects of the Group, especially in Johor Bahru and Klang.
The Group has approximately 2,400 acres of land held for current and future development which are strategically located in the District of Johor Bahru, Batu Pahat, Kluang, Segamat, Muar, Mersing, Klang and Kuala Lumpur. Most of these properties are available for immediate development as they have been granted approval for subdivision. These will help the Group to sustain its medium to long term development and profitability.
Most of the total land held in Johor, are located in the high growth Iskandar Development Region. More investment is expected to come from Singapore to the Iskandar Development Region. The Group is expected to benefit from the effect in view of its strong brand name in the Johor property market as most of its flagship projects are located in the Iskandar Development Region.
Besides, the Group is in the midst of developing the land held in Klang and is expected to anticipate a gross development value of RM10 billion with ten (10) main development phases. The site is strategically located along Jalan Klang-Banting and is 15 minute drive from the Klang town centre. This mixed development project is expected to entail thousands of units of residential and commercial properties.
This is a solid property company. In total, it generated RM 1 Billion net profit over the last 4 years.
However, its market capitalization is only RM 1.1 Billion based on its present share price @ RM1.07. It is definitely value for money in terms of low P/E ratio and good long term growth potential based on its strategic and cheap land bank with limited borrowings.
It's just too bad that property sector is not favoured by most analysts or research houses for the time being.
Yes 2014. I recommended this stock strongly at the beginning of 2014 when it was trading at about 2.00. In less than a year it gained more than 100%. I sold at the end of 2014 cos I predicted the bull market then had come to an end, and the bear will follows............
i was told there's not much institutional interest in KSL because it's hard to get access to their management and they didn't honour their previous dividend policy. so despite deep value, no big enough buying interest
First time learning to invest and came to this counter. Lost half of the saving. Those people in the management are a bunch of craps with damanged brains. No dividends, nothing. Can someone show some their faces. I really want to see?
Buy mine back same price I bought, I would be thankful for life. I agree with Iloveshare, dividend policy must be applied. When I bought the share, I read the policy and you never implemented the policy. Isn't that a scam? I really want to find those people in charge.
Give me your number and what's app you mine. I am looking up Mr. Hwa Seng Ku, he looks very innocent but has been incapable. I am still digging more info about him. Why would a company like this cheat hundreds of small investors and go unpunished? Dividend policy is not applied. Reasons are not given. The company makes profit, the management enjoys big pay and bonus at the expense of poor investors. Consequences will come more severely than imaginable
If the company get profit, director paid well, they give promises attract investors pay the price but end up collect money keep silent. I don't see any future prospects even the company still making money,currently, exp Olymxxx, Myxxx what is the price now?
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....
iambigshark
443 posts
Posted by iambigshark > 2016-11-27 11:38 | Report Abuse
Looks like 2017 demand situation affecting share peices