BANDAR RAYA DEVELOPMENTS BHD

KLSE (MYR): BRDB (1473)

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Last Price

2.88

Today's Change

0.00 (0.00%)

Day's Change

0.00 - 0.00

Trading Volume

0

Financial

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Last 10 FY Result
AQR T4Q 31/12/11 31/12/10 31/12/09 31/12/08 31/12/07 31/12/06 31/12/05 31/12/04 31/12/03 31/12/02 CAGR
Revenue 650,380 659,186 670,078 627,385 906,938 1,006,637 663,695 561,523 430,230 424,968 338,634 351,474 7.42%
PBT 55,586 82,364 85,599 156,035 155,719 98,881 72,037 19,526 -64,138 71,379 61,966 59,388 4.14%
Tax -24,236 660 4,626 -19,256 -42,981 -5,555 -1,652 -15,609 -6,541 -34,048 -19,545 23,410 -16.47%
NP 31,350 83,024 90,225 136,779 112,738 93,326 70,385 3,917 -70,679 37,331 42,421 82,798 0.95%
-
NP to SH 36,980 85,497 88,390 131,271 115,524 103,294 69,350 1,177 -67,151 37,331 42,421 82,798 0.72%
-
Tax Rate 43.60% -0.80% -5.40% 12.34% 27.60% 5.62% 2.29% 79.94% - 47.70% 31.54% -39.42% -
Total Cost 619,030 576,162 579,853 490,606 794,200 913,311 593,310 557,606 500,909 387,637 296,213 268,676 8.91%
-
Net Worth 1,810,073 1,818,769 1,797,100 1,706,653 1,598,751 1,494,282 1,419,569 1,360,680 1,141,329 1,396,434 1,196,038 1,157,344 5.00%
Dividend
AQR T4Q 31/12/11 31/12/10 31/12/09 31/12/08 31/12/07 31/12/06 31/12/05 31/12/04 31/12/03 31/12/02 CAGR
Div - 36,651 36,625 35,954 35,686 14,276 35,727 35,190 4,735 14,297 9,530 7,144 19.90%
Div Payout % - 42.87% 41.44% 27.39% 30.89% 13.82% 51.52% 2,989.80% 0.00% 38.30% 22.47% 8.63% -
Equity
AQR T4Q 31/12/11 31/12/10 31/12/09 31/12/08 31/12/07 31/12/06 31/12/05 31/12/04 31/12/03 31/12/02 CAGR
Net Worth 1,810,073 1,818,769 1,797,100 1,706,653 1,598,751 1,494,282 1,419,569 1,360,680 1,141,329 1,396,434 1,196,038 1,157,344 5.00%
NOSH 486,578 488,916 488,342 479,396 475,818 475,885 476,365 469,200 473,580 476,598 476,509 476,273 0.27%
Ratio Analysis
AQR T4Q 31/12/11 31/12/10 31/12/09 31/12/08 31/12/07 31/12/06 31/12/05 31/12/04 31/12/03 31/12/02 CAGR
NP Margin 4.82% 12.59% 13.46% 21.80% 12.43% 9.27% 10.61% 0.70% -16.43% 8.78% 12.53% 23.56% -
ROE 2.04% 4.70% 4.92% 7.69% 7.23% 6.91% 4.89% 0.09% -5.88% 2.67% 3.55% 7.15% -
Per Share
AQR T4Q 31/12/11 31/12/10 31/12/09 31/12/08 31/12/07 31/12/06 31/12/05 31/12/04 31/12/03 31/12/02 CAGR
RPS 133.66 134.83 137.21 130.87 190.61 211.53 139.32 119.68 90.85 89.17 71.07 73.80 7.12%
EPS 7.60 17.49 18.10 27.40 24.30 21.70 14.60 0.25 -14.10 7.84 8.90 17.38 0.45%
DPS 0.00 7.50 7.50 7.50 7.50 3.00 7.50 7.50 1.00 3.00 2.00 1.50 19.56%
NAPS 3.72 3.72 3.68 3.56 3.36 3.14 2.98 2.90 2.41 2.93 2.51 2.43 4.71%
Adjusted Per Share Value based on latest NOSH - 486,578
AQR T4Q 31/12/11 31/12/10 31/12/09 31/12/08 31/12/07 31/12/06 31/12/05 31/12/04 31/12/03 31/12/02 CAGR
RPS 133.02 134.83 137.05 128.32 185.50 205.89 135.75 114.85 88.00 86.92 69.26 71.89 7.42%
EPS 7.56 17.49 18.08 26.85 23.63 21.13 14.18 0.24 -13.73 7.64 8.68 16.93 0.73%
DPS 0.00 7.50 7.49 7.35 7.30 2.92 7.31 7.20 0.97 2.92 1.95 1.46 19.90%
NAPS 3.7022 3.72 3.6757 3.4907 3.27 3.0563 2.9035 2.7831 2.3344 2.8562 2.4463 2.3672 5.00%
Price Multiplier on Financial Quarter End Date
AQR T4Q 31/12/11 31/12/10 31/12/09 31/12/08 31/12/07 31/12/06 31/12/05 31/12/04 31/12/03 31/12/02 CAGR
Date 29/06/12 29/06/12 30/12/11 30/12/10 31/12/09 31/12/08 31/12/07 29/12/06 30/12/05 31/12/04 31/12/03 31/12/02 -
Price 2.35 2.35 2.12 2.35 1.58 1.02 3.18 1.38 0.87 1.95 2.15 1.18 -
P/RPS 1.76 1.74 1.55 1.80 0.83 0.48 2.28 1.15 0.96 2.19 3.03 1.60 -0.35%
P/EPS 30.92 13.44 11.71 8.58 6.51 4.70 21.84 550.12 -6.14 24.90 24.15 6.79 6.23%
EY 3.23 7.44 8.54 11.65 15.37 21.28 4.58 0.18 -16.30 4.02 4.14 14.73 -5.87%
DY 0.00 3.19 3.54 3.19 4.75 2.94 2.36 5.43 1.15 1.54 0.93 1.27 12.05%
P/NAPS 0.63 0.63 0.58 0.66 0.47 0.32 1.07 0.48 0.36 0.67 0.86 0.49 1.89%
Price Multiplier on Announcement Date
AQR T4Q 31/12/11 31/12/10 31/12/09 31/12/08 31/12/07 31/12/06 31/12/05 31/12/04 31/12/03 31/12/02 CAGR
Date 27/08/12 27/08/12 24/02/12 28/02/11 22/02/10 20/02/09 19/02/08 26/02/07 24/02/06 25/02/05 26/02/04 28/02/03 -
Price 2.54 2.54 2.30 2.01 1.82 1.06 2.06 1.87 1.03 2.06 2.31 1.02 -
P/RPS 1.90 1.88 1.68 1.54 0.95 0.50 1.48 1.56 1.13 2.31 3.25 1.38 2.20%
P/EPS 33.42 14.53 12.71 7.34 7.50 4.88 14.15 745.46 -7.26 26.30 25.95 5.87 8.95%
EY 2.99 6.88 7.87 13.62 13.34 20.48 7.07 0.13 -13.77 3.80 3.85 17.04 -8.22%
DY 0.00 2.95 3.26 3.73 4.12 2.83 3.64 4.01 0.97 1.46 0.87 1.47 9.24%
P/NAPS 0.68 0.68 0.63 0.56 0.54 0.34 0.69 0.64 0.43 0.70 0.92 0.42 4.60%

PBT = Profit before Tax, NP = Net Profit, NP to SH = Net Profit Attributable to Shareholder, Div = Dividend, NP Margin = Net Profit Margin, ROE = Return on Equity, NOSH = Number of Shares, RPS = Revenue per Share, EPS = Earning Per Share, DPS = Dividend Per Share, NAPS = Net Asset Per Share, EOQ = End of Quarter, ANN = Announcement, P/RPS = Price/Revenue per Share, P/EPS = Price/Earning per Share, P/NAPS = Price/Net Asset per Share, EY = Earning Yield, DY = Dividend Yield.

NOSH is estimated based on the NP to SH and EPS. Div is an estimated figure based on the DPS and NOSH. Net Worth is an estimated figure based on the NAPS and NOSH.

Div Payout %, NP Margin, ROE, DY, QoQ ⃤ & YoY ⃤ figures in Percentage; RPS, EPS & DPS's figures in Cent; and NAPS's figures in Dollar.

All figures in '000 unless specified.

Discussions
1 person likes this. Showing 13 of 13 comments

jjhsn

Ambang Sejati offer RM2.9 per share, any comment on this?can go for it ?

2012-07-31 07:27

Maliki BAR

indicative value....

2012-08-06 12:05

1M168

it wont revise the current offer price .. share price alr reflect the value.

2012-08-06 12:08

grss

If Ambang Sejati is buying out the whole company at 2.90, why hasn't the current price reflect the offer of 2.90? Same goes to BRDB WA, yet to reach 1.90. Any one wonders why?

2012-08-06 21:10

KC Loh

because when you wanna take something off someone, you pay a premium to its FV. Who wants to sell their company to you at FV when they are losing potential future earnings?

as noted: In a note today AmResearch said the takeover deal which involves a total consideration of about RM1.2 billion, will provide a 21 per cent upside to its fair value of RM2.40 per share and 22 per cent discount to an estimated fully-diluted net asset value (NAV) of RM3.70 per share.

2012-08-06 21:15

grss

KC Loh, thanks for your explanation. But I am still unclear about one point. 21% upside to FV is 2.90. But y this stock not valued at 2.90 at market price yet? Usually stocks prices go up to takeover price when it's acquisition target. But this stock seems to be sleeping n lack interest from market. Any idea why it's like that?

2012-08-13 07:40

KC Loh

You are proposing high price chasing higher price theory!

Sometimes its a question about timing. Sometimes its a question of S&P between two interested parties vs the evaluation of millions since the company is on its way being privatized. Punters will go in hoping to gain the extra few sens usually! That causes the rise. With the high price theory, the quedtion of will it subsequently rise or not, now depends on the goreng skill of the punters then! Most analysts in this case also becomes cheerleaders because of market buzz and business it subsequently entails!

My 2 sens

2012-08-13 07:58

andy118

Grss, I think the price will not be near to the offer price of RM2.90 because (1) there is no likelyhood that the offer will be raised
hence (2) there is a risk that offer price maybe lowered (like Eng Tegnology's case) as the offer is still pending (3) waiting time (who would pay you RM2.90 now and wait say one month later to get back RM2.90)
(4) some buying cost involved like brokerage, stamp duty. So when the offer is firm the price will be nearer to or at RM2.90. Just my 2 sens. hope it is what you are looking for. Good luck.

2012-08-13 08:39

ahjib

i would personally buy and hold BRDB, still a very cheap and attractive counter, fundamentally!

2012-08-14 21:58

grss

Proposed disposal of certain assets (Proposed Disposal)
On 5 September 2011, the board of Directors of the Company received an offer from the Company’s major shareholder,
Ambang Sehati Sdn. Bhd. (Ambang Sehati) to acquire collectively the following assets (Assets) from the Group:
CapSquare Retail Centre;
Permas Jusco Mall; and
100% equity interest in BR Property Holdings Sdn. Bhd. which owns The Bangsar Shopping Centre and Menara
BRDB.
On 19 September 2011, the Directors of the Company agreed to the disposal of the Assets to Ambang Sehati for a total
cash consideration of RM430 million. In addition, the Company proposed to distribute part of the disposal proceeds to
the ordinary shareholders of the Company via a net cash dividend of RM0.80 per ordinary share.
On 26 September 2011, the Company and Ambang Sehati mutually agreed to cease all negotiations and for the
Company to undertake the Proposed Disposal by way of a tender exercise, whereby Ambang Sehati would be invited to
participate in the tender.
On 22 November 2011, the Directors of the Company decided that in view of Ambang Sehati’s expressed intention to
explore the possibility of increasing its stake in the Company via various means which may or may not result in a
general offer, the tender exercise in respect of the Proposed Disposal would be deferred to the first quarter of 2012.
On 27 March 2012, the Directors of the Company decided to proceed with the Proposed Disposal via tender.

2012-08-23 09:25

danielttoob

Trailing events likely will be deferred as both decision maker is same person...correct me if im wrong

2012-08-23 11:33

grss

yup..from takeover proposal become open tender.. dono what theyre are trying to do.. but im monitoring this stock, though not yet buy any stock yet..if it drop to 2.30 level,i may enter.

2012-08-23 22:44

jc_ooi

Hi, might to ask as this stock is already de-listed and my friend still holding the stock. Now, is the Ambang Sejati will return money automatically to ex-share holder?

2012-11-01 18:04

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