Haters gonna be haters, while other Development Counter share price hasn't been performing well due to the fundamental sales issue, Sunsuria proves otherwise. Why?
Let's be frank, at current EPS, projects sales projection and anticipated possible dividend announcement in the near times, the share price could breach 2.00.
KUALA LUMPUR (May 25): Securities Commission Malaysia (SC) has filed a civil suit at the Kuala Lumpur High Court against seven individuals for insider trading involving the shares of Worldwide Holdings Bhd (Worldwide), a company previously listed on Bursa Malaysia.
In a statement today, the SC said Datin Paduka Low Siew Moi, Tan Cheng Teik, Liaw Huat Hin, Hoi Main Seng, Chua Keng Hong, Datuk Ter Leong Yap, and Ter Leong Hing were alleged to have been involved in the insider trading of Worldwide shares between 2006 and 200
PETALING JAYA: Sunsuria Bhd’s net profit for its second quarter ended March 31, 2017 jumped 471% to RM18.01mil from RM3.15mil in the previous corresponding period, mainly due to buoyant sales from its property projects. In a filing with Bursa Malaysia, the property developer said revenue surged to RM103.68mil from RM38.82mil a year earlier. “The revenue contribution was mainly from Suria Residence at Bukit Jelutong, The Forum 1 at Setia Alam and the group’s flagship projects at Sunsuria City, which contributed a commendable 45% of the revenue.” In a statement, Sunsuria executive chairman Datuk Ter Leong Yap said the company’s second quarter numbers signalled its determination and confidence towards achieving unprecedented growth in 2017. “This is only possible through the unwavering support of our customers, and it is testament to the operational quality of team Sunsuria.” For the six-month period ended March 31, 2017, Sunsuria’s net profit increased to RM28.64mil from RM12.56mil in the previous corresponding period, while revenue grew to RM167.48mil from RM56.33mil. “For the six-month period ended March 31, 2017, the group has five ongoing developments – Suria Residence, The Forum 1, as well as Bell Avenue, Jasper Square and The Olive in Sunsuria City, with total gross development value of RM1.19bil.” On its prospects, Sunsuria said it is upbeat and would be lining up more projects in the forthcoming quarters. “While the general market sentiment remains subdued, the group is nevertheless optimistic that with its right product mix at the right location, there will be a continuing demand for real estate assets. “With all these positive factors, the group expects 2017 to be another year of continued financial growth in revenue and profit.” Last month, Sunsuria acquired a 51% stake in Prosperspan Construction Sdn Bhd (now known as Sunsuria Asas Sdn Bhd) to expand into the construction business.
Funny statement without any proof, I been closely following all related stock that might bidding Bandar Malaysua project, nothing announcement by any co recently, except EPF continuing buyung MRCB
Just to recall why choose SUNSURIA out of others to big for BM project, firstly (Joint Venture with CITIC), second (XI Jin Ping is coming for XIAMEN UNI opening on OCT... till that time ppl shall recall this counter again)
Sunsuria won't shoot this much for any other news than news related to BM. Now all eyes on stocks and speculators are very hungry. the winner will really limit up like crazy once there is solid rumours or when the news announced.
China’s President Xi Jinping was reported to be visiting Malaysia in Oct 2017, after the Communist Party of China’s 19th National Congress in Beijing. This will be Xi’s 2nd state visit to Malaysia with the previous visit back in 3-5 Oct 2013. The press reports that Xi will witness the official opening of Sunsuria’s (SSR MK, Not Rated) Xiamen University Malaysia campus in Sepang during his trip. We would not be surprise if Xi also witness the ground-breaking of the MYR55b East Coast Rail Line (ECRL) construction which was awarded to China Communications Construction Company in late-2017 (funding is via a soft-loan from EXIM Bank of China). Malaysian construction groups will benefit from both the 30% local-content portion and as sub-contractors to CCCC’s 70% portion of the works. Both Gamuda and IJM Corp are known to be vying for works related to the ECRL. Also, two other mega projects – KL-SG high-speed rail and Bandar Malaysia – could be in high focus during President Xi’s visit.
Even if they don't get bandar malaysia, their JV with Citic should help to secure lots of contracts? Seems like chinese contractors are getting everything in Malaysia
Think they will be able to get the chinese contracts? like ECRL, HSR, BM, etc? since citic backing them up? And citic got lots of cash to fund the working capital
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....
Atozzz
3 posts
Posted by Atozzz > 2017-05-25 11:06 | Report Abuse
Haters gonna be haters, while other Development Counter share price hasn't been performing well due to the fundamental sales issue, Sunsuria proves otherwise. Why?
Let's be frank, at current EPS, projects sales projection and anticipated possible dividend announcement in the near times, the share price could breach 2.00.