People buy because they want to bet on UK property market recovery + many rich Hong Kong people will migrate to UK. That MAY prop up the UK property's price.
Ewint Q1 quarterly report yoy dropped 77%, Q2 quarterly report expected wont be that good also due to the covid pandemic period (Feb - April, UK lockdown during this period). The good result will only reflect in Q3 follow by Q4. Have to be patience if you want to invest.
They maintained their forecast of RM2.2 B revenue for FY20 even after lockdowns in UK and Aus. Their on-going construction work still moving at slower pace despite lock down. And they started to deliver units to their buyers aggressively. And the current pandemic is a boom to their BtR, as many UK citizens might opt for this due to professional services, cleaning and top-notched security and access to many amenities without driving out. And with the current policy to attract 3 M Hongkongers, the current % of HK buyers might increase from 20% to 1/3. And best of all, you can see their profits will grow exponentially with FY20 profit of approximately RM300 M. Current forward PE now is only 3 to 4x of current market capitalisation
If u want to make a fast gain from Ewint, that is tough. Better shift focus to loss-making penny counters with right theme for fast gain as these counters attract many retailers. This counter attracts more of high quality but passive investors
The PBT reported in 2Q 2020 was mainly due to higher recognition of revenue and profit by its joint venture projects in the United Kingdom following higher completion and handover of units sold to customers, as well as revenue and profit recognition of EcoWorld London’s Built-to-Rent (“BtR”) sales. In addition, lower finance cost due to capitalisation of finance cost on general borrowings and lower unrealised foreign exchange loss also augmented the PBT during the quarter
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....
RainT
8,448 posts
Posted by RainT > 2020-06-12 15:16 | Report Abuse
Harry Teo the idiot