Following-up on our previous note dated on 22 Jan 2014, we revise Southern Acids (SAB) fair value from RM7.77 to RM9.20 after adjusting our previous valuation of RM20 psf to RM27 psf (inclusive of land conversion cost) on SAB‟s 644.49 acres in Kota Kemuning, Shah Alam, which is now worth at least RM758m, larger than the company‟s current market capitalization of RM572m. Our new valuation is based on the latest transacted price by Eco World Development which had recently purchased 308.72 acres of land in the vicinity for RM470.6m or RM35 psf. Given its strategic accessibility and freehold land status, we find that SAB should deserve a higher value.
snowiechow. today my 600k due date. SOLD ALL @ 0.36/0.365. will go higher. pity this hepitrade so shakey sell so early should have make ten of hundred. good luck
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....
Posted by hepitrade > 2014-01-02 18:04 | Report Abuse
What say you, bro & sis ?