yes, this quarter results not included yet, but next quarter results very very strong, estimate 6-6.5cent EPS, very high, which translate to near 19-20cent EPS. at current price 1.42, is deeply undervalued !!
Qtr to date (3 qtrs 2013) almost 13.4 cts already ...last full year = 14.9 .In theory, with this result, the share shld appreciate but it did not ....This counter, quite hard to predict. Im still accumulating ..pretty low now
A lot of people say , next year construction companies take a back seat because of selling tax.I plan to unload my constuction stks of Hua Yang and Tambun and increase in Petrolium,Technology and Consumers .Lets see how it goes
4u2c That is a very smart move. Government already indicted displeasure on property speculation, no point going against government. 2 Consumer counters for 2014 are PM Corp & MUI Berhad. Do check them out
changccs87, the good news is the issuance of 55mil Tambun shares to buy the remaining stakes in their subsidiary might not have much effect the EPS. In fact, the percentage of shares in market will drop and enable the price to appreciate very fast. Illiquidity is a opportunity actually,since companies might be forced to rectify the problem by issuing bonus issue or sell some shares to the market.
I believe the price will be adjusted upwards after the official announcement of Penang 2nd bridge opening.
Tambun share base will increase by 55mil to 393mil by tomorrow. That might be the reason the price drops as investors anticipates for minor dilution. Cheers guys!
After price overhang due to shares placement, I believe the price will increase.
nope, Tambun issued shares to buy the remaining stakes in their subsidiary from other shareholders. Thus, they can book all 100% percent profit from these subsidiaries and this will be reflected in Q4.
In a way, I am glad this counter continues to drop. There is no need to rush to buy into this counter. Just wait until it drops into this range; between RM1.30 to RM1.35. Then, proceed to load. If not, there is still alot of opportunities to buy during the QE expected sometime in 2014.
PS: My experience with this counter. I bought in at an all time high of RM1.54. First time buying shares. Beginner's mistake. But I am not overly concerned because this is a good counter. Hence, I managed to steel myself throughout Sept'13 to Nov'13 and not to sell and contribute to the frenzy. Remember that Tambun Indah drops until RM1.2x in early Oct'13? Everyday, i felt a nudge to sell but somehow refrain from selling. In a way, it was a good experience. Now, it recovers to RM1.40. There is still RM0.14 to recover before breaking even. However, i proceed to load additional shares at RM1.40. My average price for this counter is at RM1.47. Now, continue to wait until drop into this range RM1.30 to RM1.35.
Once at this range (RM1.30 to RM1.35), i will proceed to load additional shares. Some of you may ask why at this price range? It is just a relative valuation because RM1.30 is the price TI transacted with Nadayu to buy up the two subsidiaries - TIDevelopment and Palmington. Just imagine paying RM1.30/- to buy up the entire Tambun Indah (instead of just two of its wholly owned subsidiary - Palmington & TI Development). It is really good value. Hence, RM1.30 should be the new benchmark to measure how attractive is the prevailing market price (i.e.; whether we are paying fair price at the prevailing market price). Honestly, i don't mind paying RM0.10 as a premium at today's closing market price of RM1.40. Just treat this RM0.10 as an additional premium for buying up the entire Tambun Indah (partial ownership though).
Both land are bought at around RM14psf, which is lower than their average of RM18psf for Pearl City. Sounds good and they look aggresive to replenish their landbank. Hopefully they manage to replicate the fast-moving Mah Sing. I wonder if they can buy land from the privatized Asas Dunia. That will be perfect!
The only drawback is the dividend for this year might not be as much as last year since they might need to use the money to buy those lands.
Tambun will be the biggest penang based developer by market cap for some time . It's difficult for Hunza to catch up as they have enlarged the share cap after the placement. Market cap is almost 100 mil bigger than Hunza now which held that title for 10 years . I don't know who is manipulating the share price but apparently both the boss son have worked in investment banks before
maybe due to issuance of ESOS, or another round of private pacement/right issue. If the price is too high, it won't be attractive to subscribe.
there's an upward pressure for the price increase this week. Other than Tambun, look at also Matrix, Titijaya, SP Setia, Mahsing and oyther property stock. Fear due to RGPT has subsided.
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changccs87
194 posts
Posted by changccs87 > 2013-11-23 17:27 | Report Abuse
Quarter 4 results will be more exciting, due to they already acquire the two company which contribute 35% earnings. estimate last quarter is 6cent EPS