Posted by kcchongnz > Feb 23, 2013 05:03 PM | Report Abuse
ulalar, my opinion on your crescendo as follows: Investors who have bought Crescendo at about RM1.10 3 years ago would have made a paper gain of 66 sen, or 60%, twice compared to a gain of 30% of the broad KLCI composite index during the same period. The long-term uptrend of its share price is still intact. The share price of Crescendo started to rise gradually from the beginning of the year 2012 when it was apparent that the company has its financial performance improving. On 31/3/2012, Crescendo reported a huge 35% and 75% jump in revenue and net profit for the financial year ending 31/1/2012 to 290 m and 63.7 m respectively as compared to the previous year. Besides the big jump in sales, its net profit margin also improved drastically from 17% to 21%. These in turn improved the return of equity (ROE) from 7.5% to 12.9%. Thanks to the Southern Corridor in the Iskandar Development, in particular in Crescendo’s good sales in industrial buildings development and its construction activities. The attractiveness of Crescendo as a long-term investment comes from its fairly low market valuation. With an earnings of 35 sen per share and a share price of RM1.76, Crescendo is trading at a PER of 5. The dividend yield of Crescendo is also very attractive at 8.5% for the last financial year. Using a variety of discount cash flows methods with the assumption of 5% growth in earnings for the next 5 years and 3% terminal growth rate, and a discount rate of 12%, Crescendo’s intrinsic value is found to be between RM2.30 to RM2.75, with an average of RM2.53. There is a potential 43% upside compared to its share price of RM1.76. The margin of safety of investing in Crescendo is above 30%. However, the Group's revenue and PBT for the nine months of the financial year ending 31 January 2013 decreased 4% to RM210.6 million and 24% to RM49.2 million respectively. The decreases in revenue and PBT were mainly due to lower sales in industrial properties. Despite of the lower profit, earnings per share is expected to be about 27 sen for the whole year. The prospective PE ratio is still not excessive at 6.5. The future success of investing in Crescendo will depend on the success of of its Nusa Cemerlang Industrial Park and the other development in the Iskandar Development Corridor of which the government has fully committed on. With RM 444 million worth of land held for development under its balance sheet now, the chance of success for Crescendo appears to be bright.
@kcchongnz: i gotta paste it here for future reference / comparison, arigato in advance.
Budget 2014 will hit hard to local property industry by J&J author.
We think the approach is too hard even though we do not agree to sky rocketing property’s prices. The root is whether it is speculative or other reasons that caused the price hike. We feel that it is because cost is increasing and developers have transferred the cost to consumer. Also as it is a highly related fact to quantitative easing strategy by most central banks all over the world.
If the second objective is to collect more taxes to balance the budget. We feel simply a 2-3% stamp duty share by both buyers and sellers may have achieved the goal plus mildly reduce speculative activities.
If property market react heavily to the approach and this may impact all chains related to property industry and we believe is quite widely spread.
6718 cresndo Gemstar Rm 2.68 admission reasons --- 1 ) Technically that this stock 's share price at 29-01-14 rm2.72. Rebounded after 15-04-14 to rm3.11. Now four months underscore ( 26-04-14 price rm2. 66 ) , already is oversold (RSI = 24%), RM2.68 is a chance. 2 ) fundamentals, its stable and strong fundamentals , there is no negative news , so you can play. 3 ) as a whole, Gemstar reported net profit of RM 100 million 21.22 million , up 118% yoy ; turnover grew by 10% to 300 million 10.355 million ringgit , as well as full-year earnings per share of 57.22 cents . 4 ) Now the price Rm2.70 (pe = 4.7), significantly undervalued , reasonable pe = 6, price = Rm3.43. , And there NTA = RM3.17 5 ) due to the revaluation of assets and the value of investments accounted for 38.9 million ringgit , Gemstar fiscal 2014 earnings of 82.3 million ringgit real , Gemstar sent the annual dividend 16 cents , higher than our forecast of 14 cents , equivalent to 5.4% in Week appealing interest rate. 6 ) revaluation of investment assets such as this , I believe the future is still there ( because the company has a large basement ) . 7 ) of securities recommended " hold " the stock , and earnings per share in 2015 based on 45.7 cents , to calculate the target price of 3.20 ringgit . 8 ) Kenanga Research analysts adjust the sales forecast , the industry is expected to earn a higher amplitude , under lower operating costs and additional interest expenses, the company fiscal year 2014 core earnings forecast by 4% to 83.6 million ringgit ; However, the 2015 fiscal year earnings forecast by 5 percent to 95.5 million ringgit. He maintained the stock " outperform " rating and a target price of 4 ringgit. 9 ) Now the company has begun to buy back the stock price , and therefore fall limited. 10 ) Gemstar recently with Mavern, Meiban resources, and Medini Capital Co., Ltd. signed the joint venture agreement , Wei Songlin said Johor NusaCemerlang Associates will develop industrial parks industrial development projects. 11 ) The company plans to industrial park about 16 acres of land for the development of advanced commercial and residential industry is currently undergoing the application . Local industrial land price per square foot is more than 70 ringgit , if successfully converted into commercial or residential land , land prices are up more than 100 ringgit. " The development of commercial and residential industry , but also enhance our profit increase. 12 ) the development totaled 20-3000000000 ringgit Bandar Cemerlang town plan , expected next year or the end of the third quarter began . " There are places in town development industries, is expected to take 10 years to complete development. 13 ) Wei Songlin do not think industry market Iskandar region will be saturated , because the government is committed to the development of the region , is expected in the next five to 10 years , the local population may be increased to 300 million , coupled with Singapore approaching, is expected to be support local industry needs. 14 ) Kenanga not worried Johor impose additional industry profits to overseas buyers tax measures , because the domestic industry, prices are still 30% lower than Singapore , coupled with tight supply of industrial lots Singapore , Singapore SMEs will force more operations base transfer to Malaysia . 15 ) Gemstar is a pure property developer in Johor , and the basement has 2,983 acres in the state , more than half ( 1,663 acres ) located within the Iskandar Malaysia area range. 16 ) According to the book value , the average price of our basement to 3.50 ringgit per square foot , far below the existing undeveloped basement -foot-8 ringgit to 10 ringgit per square valuations. On industrial projects, Gemstar provide competitive price advantage , from the basement to make pricing or capital appreciation based on the current valuation. 17 ) is expected to Gemstar remaining gross development value (GDV) of 7.4 billion ringgit, it also means that profits can be maintained for 8-9 years . The total value of 7.4 billion ringgit development is still conservative estimates , forecasts taken from each acre worth 2.5 million ringgit development , much lower than other developers from 3 million to 6 million ringgit per acre. 18 ) Gemstar 's main business activities can be summarized as follows: ( a ) industrial operations , ( b) the construction business ; and (iii ) other businesses, such as education, industry, investment and management services. 19 ) Dividend policy, Gemstar will distribute 30% of net profit as dividends , in the past three years, records show , the dividend payout ratio between 32 % and 39% of net profit . 20 ) Cash flow, although cash and cash equivalents from Gemstar fiscal 2012 75,806,000 ringgit drama reduced to 2013 fiscal year 22,346,000 ringgit , but capital outflow is mainly used in the acquisition and repayment of loans.
21 ) Ken Nanjia study is expected , expected revaluation of net assets up to 5.08 ringgit. 30% discount is calculated based on a target price of 3.56 ringgit analysts . Group's growth momentum is to develop high-end residential sector ( Detached and semi-detached townhouses ) , each unit priced at more than one million ringgit . 22 ) investment risk, factors to consider , including interest rates , play room or a negative policy , the slowdown in global economic or industry and other fields . 23 ) 30 major shareholder already holds 78.87% , only 21.13 percent market liquidity , a major shareholder of KIM LOONG RESOURCES BERHAD (55%). 24 ) use of the hands of the funds , concentrated fire , so to maximize capital appreciation , Gemstar institutions have to become an outbreak shares. Grasp the opportunities currently offered. Achieve impressionistic , relaxing , watching the sea day , ha ha, I entered , what are you waiting for it . 25 ) These are the catalyst for the share price rises , individual projections and finishing out of the ego. Company website - http :/ / www.crescendo.com.my/
erkongseng : u promoted this stock alot with good write ups, i really appreciate it. But i belief u hold alot of stocks in Cresendo. Thats why u promote it and need ppl to push up this stock, am i right?
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....
Mohd Shuk
725 posts
Posted by Mohd Shuk > 2012-03-29 17:43 | Report Abuse
Masih Ada Ruang!!!