Jeffrey, I think you must be new to L&G. L&G completed a 8 for 5 rights issue at 21 sen per share half a year ago. I think it is a good buy at this level.
THIS phenomena , only those fishing mad guy , can brief you , next step , and also further progress , but one things interesting here , it will last with the BIG OBJECT NAIL OFF .
What’s New In-line 2QFY18 performance. L&G reported a 2QFY18 net profit of RM25.4m which was largely lifted by RM35.5m write-back of cost arising from the Damansara Foresta project that was handed over last year. On a core earnings basis, a net loss of RM10.2m was recorded in 2QFY18. Nevertheless, we expect a much stronger performance in 2HFY18 as its Astoria project will start to contribute meaningfully following the completion of the podium of the project.
Higher revenue in 2QFY18. L&G’s 2QFY18 revenue came in at RM22.8m, which represents a surge of 95% q-o-q and 45% y-o-y. This is also highest quarterly revenue since 4QFY16 as Astoria was only launched in mid-CY16. Property development accounted for 70% of 2QFY18 revenue while its education business contributed 16%.
More launches in the near term. After an absence of more than a year since its last launch of Astoria phase 1, L&G is set to launch the second phase of Damansara Foresta called Damansara Seresta (RM480m GDV) and also its first township development in recent years with Sena Parc phase 1 (RM230m GDV) in Senawang where the former Tuanku Jaafar Golf and Country Club is located. A strong sales performance from both projects could help deliver impressive earnings growth given its small earnings base.
Maintain Buy. We reiterate our BUY recommendation with a TP of RM0.28, based on a 65% discount to our RNAV. It is trading at an unjustifiably steep discount of 73% to its RNAV, thus giving a decent dividend yield of 4.5%. With a net cash position of RM218m (representing ~35% of its market cap), L&G is set to unlock its deep land value via more launches.
DR. TAN CHONG KHAY ( PHIEM GROUP CHIEF OPERATED MAN ), his increase of stage in L&G , make L&G even reliable , feedback his history , SINGAPORE MOST SOLID GOVERNMENT ADVISOR , STEERING MAN FOR PROUD LEADER LEE KWANG YEW FINANCIAL COORDINATOR , HIS PROFILE WORK SHEET , REGION FIRST PRIVILEGE .
Fortune teller maybe lie you , BUT phiem , definitely NOT , its SOLID DATA is the EVIDENCE TO ACHIEVE THE HIGHER VALUE IN COMING FUTURE , DON'T FORGOT IS CHAMPION FINANCIAL COORDINATOR IN EARTH .
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....
khatulistiwa1234
46,261 posts
Posted by khatulistiwa1234 > 2017-11-21 08:38 | Report Abuse
ELEPHANT IS DANCING , SLIM DOWN FOR BETTER PERFORMANCE , NEVER UNDER ESTIMATED THE BUTTERFLY CHANGED , IT WILL FOREVER BEAUTY , WATCH AND OBSERVE .