Share buy back is a good thing. Since the company still buys back at this price range may suggest that they think the price is undervalued. May be some good results in the soon to be released quarter result?
Hap Seng Consolidated has been aggresively buying back their shares lately in anticipation of good earnings arising from the proposed sale of the car business in vietnam which could contribute RM 200 millions windfall gain. Besides plantation sector, all sectors are expected to perform well. The company continue to pay good dividends of 7% last year and this trend should continue at an increasing rate given their dividend policy of 50% payout ratio. At PE of under 10 I believe this company is another hidden gems yet to be notice by instituitional investors. With landbanks in Johor, Sabah and KL and at low valuations this stock is waiting to explode to its potential. Share buyback is a good thing as it provide support for its price when market is down. Only problem is do you have the time to wait?
still very long way to go if want to take it private. cuz currently he only owes 5.1% of total share issue. so for me i think is something big comming on on the next quater report.
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phyroxus
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Posted by phyroxus > 2013-04-26 12:12 | Report Abuse
keep on buy back but no action and price also drop