JKG land managing director Datuk Teh Kean Ming ( former IJM director), He says the company has been profitable all these years and that the small net loss of RM1.18mil reported in the fourth quarter of the financial year ended Jan 31, 2017 (FY17) was a “one-off event”. “This is not reflective of our underlying performance as our cashflow and gearing levels are healthy. The losses were due to the build-then-sell (BTS) concept, which we undertook for a project in in Kedah for 252 units of single-storey terrace houses with a gross development value of RM33mil,” he says. “In the first quarter of FY18, we sold some of these units and will quickly book a profit from these BTS concept houses that was launched in February. We did this BTS as we had wanted to extract better value from our projects. “Barring any unforeseen circumstances, we expect a profitable year in FY18 and for the coming quarters as well,” he adds.
JKG land just release Q1 result, first after insurance of right share, record impressive profit RM 8m, EPS= 0.87 sen, reverse from earlier 3 consecutive q loss.
JKG land have launched first phase Era, duta north, GDV 580m, based on circular issue in regard to right share, it detail the construction cost is RM 460m, implying that JKG land stand to gain from phase 1 profit alone alrdy around RM 120m over period of 4 year construction period. In the interim, phase 2, 3 and 4 which carry even higher GDV will continue launched
JKG land is expect to continue derive stready profit contribution from its long term bread and butter property development in kedah. Annualized profit contribution from kedah alone should be at least RM 20m pa. These is in addiotnal to future profit contribution on its new high end property venture in KL, era, duta north, total entire GDV RM 2.2 billion.
currently around 220 million cash, which is 10 cents cash per share but share price trading at 11.5 cents.. so you only need to pay 1.5 cents for all the lands in segambut and kedah + ongoing projects ... apa lagi lu mau ?
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....
tomwah
1,599 posts
Posted by tomwah > 2017-05-04 18:01 | Report Abuse
i believe not longer next week ,will release from cave ....