公司的Net assets per share value是账面价值而不是market value. 而它大部分的资产lands是属于Iskandar特区一带的土地,他的market value最少是他账面价值的60%至100%以上(从它买进年份和现年价值作比较). 简单算;1)特区1663亩--每亩=43560平方英尺,几年前每方尺值10元,则1663*43560*10=7.24 亿 7.24亿/股数(2.2848亿股)=每股值RM 3.16 2)新山地不佬有865亩地,哥打丁宜526亩地,共1391亩,取每方尺5元算,则1391*43560*5=3.02亿 3.02亿/股数(2.2848亿股)=每股值Rm 1.32 因此共值RM 4.48 现在票数=22,8484 張,可转换债券(icls)有5,1978 張,在11-1-2016 到期.假如全部转换则,公司总共股数为22.8484+5.1978=28.0462張。 因此 a)7.24亿/股数(2.8046亿股)=每股值RM 2.58 b)3.02亿/股数(2.8046亿股)=每股值Rm 1.07 a) + b)= Rm 3.65 注--这里己发展掉的土地没有扣除,也沒加入发展后的净利,只是单单计算土地价值(实际上现在土地值己更高.) 个人推算,进出自负. Company Net assets per share value is the book value instead of market value. While most of its assets lands are lands belonging to Iskandar, DC area, his market value is at least more than 60-100% of his book value (buy from it Year in and aged value for comparison). Simple calculation; 1) DC 1663 acres - acre = 43,560 square feet, a few years ago the value of 10 yuan per cubic feet, then 1663 * 43 560 * 10 = 724000000 724,000,000 / D (2.2848 million shares) = RM 3.16 per share value 2) The new guy does not have 865 acres of mountain land, 526 acres of land in Kota Tinggi, a total of 1391 acres, take five yuan per count feet, then 1391 * 43 560 * 5 = 302 000 000 302 million / shares (2.2848 million shares) = value Rm 1.32 per share Thus a total value of RM 4.48 Now the votes = 22,8484 Zhang, convertible bonds (icls) has 5,1978 Zhang, expires at 11-1-2016. Then if fully converted, the company total number of shares 22.8484 +5.1978 = 28.0462. So a) 7.24 billion / $ number (2.8046 million shares) = value of RM 2.58 per share b) 3.02 billion / $ number (2.8046 million shares) = value Rm 1.07 per share a) + b) = Rm 3.65 Note - there has been no development of land swaps, net, did not join after net development, we simply calculate the value of the land (actually now have higher land values.) Personal projection, out of conceit.
Time will be the good evident in share investing. eg, Kseng, 3476 have proven strongly under value before, look at its price now. Crescendo is another germ at Johor.
pls refer what keith said before: Unbilled sales left 80millions which could only survive equal to one quarter revenue. I wonder how the company will be survive
div ex-date yet to announce after the AGM. Crescendo have plenty of prime land bank that can be develop til 2018. The industrial land near by 2nd link highly on demand by foreigners, housing and Crescendo college located nearby hotspot Iskandar. What to worry about? This is not survival game.
The whopping 389M retain earning can be distributed as single tier dividend which is equivalent to almost RM1.70 per share according to Annual Report. Such a generous company, In fact , the company pass all the financial ratio as the management is very cautious and prudent with high profit margin.
The return on equity is a bit low couple with less earning recently ,The oil effect is quite worrying with some expert expect it to touch US40/barrel soon. Hope it won't happen.
real issue in Johor -- not enough employees. most of the hardworking go to spore to work. that's very very real.... puts off some companies from relocating to Johor.
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Posted by erkongseng > 2014-06-01 10:36 | Report Abuse
公司的Net assets per share value是账面价值而不是market value. 而它大部分的资产lands是属于Iskandar特区一带的土地,他的market value最少是他账面价值的60%至100%以上(从它买进年份和现年价值作比较).
简单算;1)特区1663亩--每亩=43560平方英尺,几年前每方尺值10元,则1663*43560*10=7.24 亿
7.24亿/股数(2.2848亿股)=每股值RM 3.16
2)新山地不佬有865亩地,哥打丁宜526亩地,共1391亩,取每方尺5元算,则1391*43560*5=3.02亿
3.02亿/股数(2.2848亿股)=每股值Rm 1.32
因此共值RM 4.48
现在票数=22,8484 張,可转换债券(icls)有5,1978 張,在11-1-2016 到期.假如全部转换则,公司总共股数为22.8484+5.1978=28.0462張。
因此 a)7.24亿/股数(2.8046亿股)=每股值RM 2.58
b)3.02亿/股数(2.8046亿股)=每股值Rm 1.07
a) + b)= Rm 3.65
注--这里己发展掉的土地没有扣除,也沒加入发展后的净利,只是单单计算土地价值(实际上现在土地值己更高.)
个人推算,进出自负.
Company Net assets per share value is the book value instead of market value. While most of its assets lands are lands belonging to Iskandar, DC area, his market value is at least more than 60-100% of his book value (buy from it Year in and aged value for comparison).
Simple calculation; 1) DC 1663 acres - acre = 43,560 square feet, a few years ago the value of 10 yuan per cubic feet, then 1663 * 43 560 * 10 = 724000000
724,000,000 / D (2.2848 million shares) = RM 3.16 per share value
2) The new guy does not have 865 acres of mountain land, 526 acres of land in Kota Tinggi, a total of 1391 acres, take five yuan per count feet, then 1391 * 43 560 * 5 = 302 000 000
302 million / shares (2.2848 million shares) = value Rm 1.32 per share
Thus a total value of RM 4.48
Now the votes = 22,8484 Zhang, convertible bonds (icls) has 5,1978 Zhang, expires at 11-1-2016. Then if fully converted, the company total number of shares 22.8484 +5.1978 = 28.0462.
So a) 7.24 billion / $ number (2.8046 million shares) = value of RM 2.58 per share
b) 3.02 billion / $ number (2.8046 million shares) = value Rm 1.07 per share
a) + b) = Rm 3.65
Note - there has been no development of land swaps, net, did not join after net development, we simply calculate the value of the land (actually now have higher land values.)
Personal projection, out of conceit.