I am holding Plenitude share below rm 1.00 Will hold it at least until RTS is ready. If LRT really take place and has a station at Tebrau City, then will hold the share until that LRT become operational.
Plenitude is the most valuable hidden gem in Malaysian property counter due to extremely low land cost. Very good FCF. Very capable and credible BOD. Very solid major shareholders.
To make 50% profit from this counter within 6 months is sup sup water.
Don't miss the forest for an old tree. Just look at the probability of making 50% profit from Plenitude vs 50% profit from a grossly overpriced stock (from 4 ringgit to 6 ringgit). Weigh the risk of losing big when you only see a table-size cookies drawn in the air.
Plenitude will continue to make good profit from property development as land cost is extremely low. Hotel operations are just addition toppings. More important considerations are the sustainable property development over many more years into the future and the strong cash flow.
Hotel business's revenue increase almost to half generated in property development.. its strategic investment and divestment into the hospitality business in Malaysia, Japanese and Korea is paying.. Inbound Tourist into all these country been exploding in recent years.
Latest QR no good due to write off 13.9 million impairment upon disposal of a subsidiary. No idea which subsidiary was sold as there was no Bursa announcement. Also make me puzzle why there was 20 million increase in administrative charges which no increment in revenue. Any how net profit was 16.7 sen compared with 11.5 sen for previous year. Believe Plenitude will still declare 4 sen dividend by 20 Sept.
The Group registered a revenue of RM134.3 million and net profit of RM0.5 million for the current quarter ended 30 June 2024 as compared to revenue of RM131.2 million and net profit of RM19.9 million in the corresponding quarter of the previous financial year. The lower profit recorded in the current quarter was due to provision of an impairment loss on assets held for sale of RM13.9 million resulting from the disposal of an indirect wholly owned subsidiary company.
The performance of Plenitude over the past decade was nothing to shout about with an average ROE of 4%. But this was because not all its cylinders were firing. Plenitude had 2 main businsses – property development and hospitality.
The hospitality business used up about half of its capital. For most of the time over the past decade the hospitality business delivered losses. The profits for the group were contributed by property development.
But over the past 8 years, the group had been refurbishing and improving the operating efficiency of the hospitality business. Then in 2023, this business began to deliver profits. I would expect growing contribution from the hospitalilty business.
Can you imagine the potential returns when both property development and hospitality pull their own weight? I think the market price has yet to reflect Plenitude’s turnaround.
When both property development and hospitality pull their weight and contribute to the bottom line, I would expect significant improvement to the return. The profitability picture as well as its strong financial position suggest that Plenitude is not a value trap. --Dato Eu
bought in plenitu for the first time with price between 1.36 to 1.37 (morning session, 02 december 2024). interested with it's improved hotel business instead of property business, just hopefully it's property business will not drag down.
sold all PLENITU at RM1.42 (morning session, 26 december 2024). think today' uprise maybe due to chenjian's article, not sure if it can sustain longer and go higher, so decided to take profit margin together with 5sen dividend earned. will keep monitor this counter for possible reenter opportunities
Thia year it pays out 8.5 sen dividend...so the diviend yield is around 5.9%.. Not to mention they have good asset , land , hotel, cash... which makes the nta $4.5 vs now share price $1.45.. Company shares is cheap aka undervalue lol..
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....
snowball2000
444 posts
Posted by snowball2000 > 2024-01-29 11:46 | Report Abuse
It seems the big boss is having a spate of bad luck lately. Better bail now before it is too late ..... :]