An interesting write-up on Star Bizweek.Now with regret,I think I cash out too soon on Fri high.Hiz..... has been one of my weakness:sell to soon when the counter start to charge like a bull.!May consider to buy in tomorrow if up trend continue.
paid a lot for IB to make "feel good" story, just look at the lousy DIV history, really biz so good? not worth to hold long term but probably good for some quick bucks :D
A&M is a classic case of value trap. It has excellent landbank but it will take a few decades to realise it into cash. All net profits will go to directors' remuneration in coming 20 years. Its boss runs the company like his, with no regard to minority shareholders who need dividend. If only its boss decides to sell assets, the price will go to RM2 easily but it will not happen as he brings in all relatives and family members to benefit from the company's net profit generation after generation.
Govt support share but May P n L not too encouraging. Thats why the shares drop .Worst earnings among all qtrs. Im not an expert,why u ask me all of a sudden...
Posted by kcchongnz > Jul 17, 2013 06:23 AM | Report Abuse
Kia ora - A&M Realty Bhd Posted by leviathan > Jul 16, 2013 04:36 PM | Report Abuse
Another property development and construction company? I never read anything about their land bank, development plan, location, niche etc. Its Kota Kemuning projects seem to be doing well recently.
Looking at its financial statement also doesn't excite me; No growth. I does have a healthy balance sheet, cash rich, and profit from its business. So I have to look at it if it is a cheap stock to invest by using ColdEye's 5 yardsticks.
ColdEye 5 yardsticks A&M 1.130 1 ROE 5.2% No Net profit 27133 Equity 516927 2 Cash flows, average CFFO 20009 <28600 No FCF 15674 OK 3 PE ratio 15.2 >10 No Price 1.130 EPS 0.0743 4 Dividend yield Dividend , sen 0.00 Dividend yield 0.0% <3.5% No 5 Price/NTA 0.80 <1.0 Yes NTA 1.416
As I have said, nothing excites me. It has low ROE but selling not cheap at all at a PE of 15. Besides never distribute any dividend for the last few years already. Do this realty really has so much cash ah? If so who get the benefit of the cash?
part here first for my future further reference. tēnā koe
2,000 acres. purchased 20 years ago at RM0.1 psf. Now it is RM50 psf 2000 acres X 43500=87,000,000 square feet 87m sf X RM50 =RM4.35 BILLION RM4.35B/ 365,063,800 shares
= RM11.91 PER SHARE
what say you?? haha of course we cannot calculate like that. but this is the value of A&M.
if that piece of land belong to me & i have intention to sell it away, i might calculate as you did, lol
they are building on Amverton brand name - high end development
the major shareholder & family holding over 71.56%.....(it will be good if i know what are they thinking now , kikikiki ), if they never take care of minority investors as claimed, would they share this slice of meat together with minority shareholders now ?
Anyone can verify the current land price psf in Carey Island? I saw a leasehold land plot seller asking for less than RM10 psf in 2013 in Carey Island, which makes RM50 psf as claimed in Btimes' interview seriously inflated.
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....
Lim AS
275 posts
Posted by Lim AS > 2013-04-05 18:12 | Report Abuse
already turned to rust