If excluded fair value gain/loss, 2020 Q4 PBT was -75.976mil + 142.779mil = 66.803mil compare to 2019 Q4 137.414mil - 27.053mil = 110.361mil, which is 39.5% lower. Not that bad during the covid-19 pandemic.
Luckily do my home work and decided not to invest in this company. QR loss at RM77.9million and EPS at -0.0766 !!! Already 6+ years no dividend. Please do some survey before invest your fund.
KSL Bandar Bestari project unfortunately very low sales...Dont foresee how they gonna bounce back anytime soon. in fact bosses might just privatize it below 60c later. Sad story.
I would categorise KSL as a value and post covid revival stock.
Pre covid, the company has always been able to deliver a profit of RM200mil to its share holders (From 2014 to 2019 and this even after excluding all the one off gains like fair value adjustments etc). If they can return back to precovid level (which i believe is highly likely), then at the current share price, it would mean that the company is only trading at a mere 3.2x PE.
An immediate catalyst would be the opening of Malaysia and Singapore borders as tourist from Singapore are actually the biggest spender for its hotel and mall business. The 2 business combined normally deliver a profit of 20 to 25 mil per quarter during precovid time. Now it is only delivering an operational profit of RM2 mil per quarter.
KSL board of director purposely created 1 company (Using other name) to supply brick for their own project, you may check their account for the brick supplier, curious why the price of the brick is higher than the market price and always the brick is exceeded the budget quantity.
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....
james8888
49 posts
Posted by james8888 > 2021-03-16 11:10 | Report Abuse
sell sell sell... operator ran