Australia housing is in a crisis. Supply lower than demand. Property developers are required to built more properties. Hence, AUS construction will boom which will benefit PGF which has 5% of existing market share.
PGF has a 1,311 size land in Tj Malim beside Proton City. Existing book value is only RM2 -3 per sqft. Based on market value, per sqft is at RM45 currently. This plot of land is woth about 3x of PGF's existing market cap.
You have land which have yet to unlock value. This land value based on latest market price has yet to be revalued and reflected in the balance sheet. Downside is minimum. Upside is huge. Period.
Remember that people like to hear stories of durian (plantation) and sturgeon fish breeding too (aquaculture). Although no material impact to existing P&L. It could be a sexy story in the future.
Loss was due to a grant reversal. The accounting treatment for grant reversal is to spread out the income over the useful life of the asset. Hence, it was an accounting treatment only. Without this reversal, this quarter would be profitable.
Please note that this quarter is a seasonally slow quarter as sales in Oceania market will slow down during Christmas. FYI it is normal for companies to close for 2 weeks in December in Australia
Despite the seasonally weaker demand of this quarter, PGF manage to achieve the second highest quarterly revenue so far. We look at topline revenue. Fundamentals are still intact.
THE ONLY LISTED COMPANY IN BURSA THAT MANUFACTURES POLY WOOL. IT WILL FETCH HIGHER VALUATION LATER. STILL AN UNDISCOVERED GEM BY THE MARKET. ALSO PGF HAS HUGE LANDBANK YET TO COMMERCILIAZE.
morning it got sold down to 1.76.. but good that it bounced back to close at 1.85. If ppl read the results properly, then can tell operationally no issue, revenue up, operating profit up. just that they have to revert some grant due to accounting policy issue. tomorrow hope it will go back to RM1.9x level... and eventually break RM2 level *fingers crossed*
https://klse.i3investor.com/web/pricetarget/research/71233 TA Research covers the stock.. can read the analysis there. Maintains TP at RM2.76. Price sudah recovered to RM1.89.. strong eh. btw, company got recommend 1.5 sen dividend.. but have to wait a bit.. need shareholder to approve first at AGM.
New IPO: Building management systems (BMS), solar thermal systems and energy-saving services provider, Solar District Cooling Bhd aims to list on the Ace Market!
MQ Trader 276 views | 1 d ago
0:17
New IPO: The onshore and offshore support services provider for the O&G industry, Steel Hawk Bhd aims to list on the Ace Market!
MQ Trader 11439 views | 10 d ago
0:17
New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
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....
wallstreetrookie
9,784 posts
Posted by wallstreetrookie > 2022-07-31 20:46 | Report Abuse
Shh