Q to Q declined, sales billed slow liow and seems not encouraging. No new strong development since Jan 2019, and expecting coming Q will be shivered, Tmrw share price seems no good. Hopefully tunnel project either confirm or rumuor progress can come in before next Q anncement in May, otherwise the share price will be depressed or stagnant and will further drag down when May Q anncement.
Excellent results for the year 2018. Revenue for the 2018 was 204.24million (compared to 93.823million in 2017), i.e. revenue is 217% compared to last year Net profit for the 2018 was 49.25million (compared to 13.167million in 2017), i.e net profit is 374% compared to last year QR4 results is comparable to QR2, net profit is less because tax provision is more (6.581m in QR4, compared to 3.683m in QR2) The fluctuation in revenue and net profit is probably due to delay in progress claim, so probably should look at it by average the two quarters. Prospect for 2019 will be excellent as they will complete the construction of City of Dream (Phase 1) in 2019, hence more progress claim or revenue from their property development.
Everyday I pass by look at this project and the location , if Penang island going to develop,this is the only prime land in island and this is the thing can't read from the report. if you thing Penang will become a place for development and tourist,the double E company are the good choice for u.
At current market conditions, margin for a good property developer is at most about 10% For Ewein is at 24.1% overall (the margin for Ewein's property sector is more, probably close to 30%) , which mean they are one of the best.
For City of Dream (Phase 1), the total progress claim they had made so far is at around 150m, I guess. The whole project is worth 800m, so the balance is 650m to be complete in 2019. Probably the progress claim will be spread for the next 4 or 5 quarters !!!!
Based on the fact, city of dream done sell at 80% of units Assume average sf was 1100sf x rm1350psf x 572 unit x 80% = rm679,536,000.
Based on completion expected end.of this year's Since year 2016 the project been start until latest Qr with total revenue just only 3xxmil Therefore in fact fy2019 revenue will have another New high
Therefore I believed this is the result why dato keep buy back their share due to he also believed ewein is super undervalued
The City of Dream project was slapped with stop work order for about 3 years. I think they only restarted their construction works in Q4 of 2017. They were some works done in 2015, so that the actual progress claim should not be 3xxmil, a lot less i think. Which mean 2019 will be a very good year for Ewein.
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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....
6044
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Posted by 6044 > 2019-02-28 18:02 | Report Abuse
Q to Q declined, sales billed slow liow and seems not encouraging. No new strong development since Jan 2019, and expecting coming Q will be shivered, Tmrw share price seems no good. Hopefully tunnel project either confirm or rumuor progress can come in before next Q anncement in May, otherwise the share price will be depressed or stagnant and will further drag down when May Q anncement.