Sold back all Glomac at 81.5-82sen, cut loss, even entitle 2 sen dividend still still have to realize loss 3sen/share, free up capital, to swap back to Puncak
For the full financial year ended 30 April 2015, Glomac delivered revenue of RM472.2 million with profit before tax of RM143.7 million and net profit1 of RM86.7 million. Net assets per share attributable to owners of the Company rose to RM1.31 from RM1.22 as at the end of FY14.The Board has proposed a single-tier final dividend of 2.25 sen per share for FY15. Including the single-tier interim dividend of 2.0 sen per share paid in June 2015, the total single-tier dividend for FY15 comes to 4.25 sen per share.
Glomac is very cheap compared to other property counters. The last Quarter EPS is about 3 sens or about 12 sens on annualised basis. At 10 times PE, the stock is easily worth RM1.20. Comparing with Ecoworld, (last Quarter EPS is only about 0.41 sens and 1.64 sens on annualised basis), the stock is currently trading at RM1.55 at a PE of 95 times. Imagine if Glomac is traded at 95 times PE, it will be worth over RM10.
The Board of Directors of Glomac Berhad wishes to inform that its wholly owned subsidiary, Glomac Maju Sdn Bhd had on 9 October 2015 entered into a Sale and Purchase Agreement with Perbadanan PR1MA Malaysia for the disposal of 16.9082 hectares of freehold land in Mukim Ulu Langat, Selangor for a total consideration of RM145,594,944.00.
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....
alexsee
1,349 posts
Posted by alexsee > 2015-06-09 16:35 | Report Abuse
still dropping to 0.835... low buyer