Yes, more and more institutionals are holding OCK. Based on its latest Annual Report, the top 30 shareholders, about 75% is held be institutionals & major shareholder. Hopefully they are in for long term. Towerco biz has high capital, but also has good growth potential from higher tenancy ratio over time. First few years normally profits are lower, due to depreciation and interest, and gradually increasing its tenancy ratio.
a) The non tower biz is seasonal. First half average is 30%.
b) The basic EPS (practical - 871m shares) is much higher at RM1.37 than the Fully Diluted EPS (theory - 1,135m shares) used by analysts to determine their target price of RM1.05 per share. It is unlikely warrant holders will convert with a 10% premium (with 3 years 3 months to expiry)
c) fundamental growth has capacity to improve over next 2-4 years at least, due to expansion (to 5,000 towers from 2,800) and improvement in tenancy ratio, and cost optimisation for the towerco biz in Myanmar and Vietnam.
janetrohan- i "committed" my share holding on this counter to at least 2020 ... so tak makan angin pun. just waiting for this gem to shine je. after the musang king has grown, and start durian runtuh, will then only start harvesting season. :-)
my 2 sen opinion is, yes, the towers expansion and the number of sharing on it is key, but I believe the lucrative portion will be TNS... yes... the TNS.... pao kao liow, give the operators a lock stop barrel package.. provide the towers, rent it out, then also do the RF planning, Optimization and periodic necessary tweaks and preventive maintenance... that will be the long term recurring recurringx2 income... - in short, replicate what they are doing in msia :-)
Be patient for 1 more month, things will start to ripe. Between now and then, it will go up and down as usual. The volume is so low that anyone can influence it easily. So you may ignore it.
Irat Properties Sdn Bhd has two streams of businesses. It holds a direct stake in two prime properties, Chulan Tower and The Royale Chulan Kuala Lumpur, which registered an attractive fair value gain for the year. Through its automated traffic enforcement segment, the company holds concession agreements with the Government to install, operate and maintain traffic enforcement cameras and systems. At present, the company operates 14 cameras. Irat Properties is in the midst of negotiating a revised concession agreement with the Government for the rollout of cameras. This is expected to conclude in the second quarter of 2017, following which we expect to see sustained revenue and profit contribution to the Group. The implementation of the traffic enforcement cameras and systems is aimed at enforcing road safety and improving behaviour of road users in terms of controlling speed and abiding by traffic light laws. The ultimate goal is making roads safer for the public through improved road user behaviour.
At last, it has come out officially.... i still remember this AES thingy being shared by forumer sometime ago... Hopefully will create more happy shareholders, not IRATe ones.. hehehehe...
another source of income... AES camera towers.. great.
yeah... need a lot of patience for ock... put it in freeze and forget about it... come back to look after 6 months...hopefully got some positive surprise... haha
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....
ttt
307 posts
Posted by ttt > 2017-09-11 18:21 | Report Abuse
shaking out investors kua