It is true that the revenue and profit should go up. One of the beneficiary of falling Ringgit. Just do not know if Tiah will take this right moment to privatise the company?
Whilst revenue MAYBE up because of forex translation, it is definitely going to have substantial unrealised forex losses due to translation of borrowings in foreign currencies. Exchange differences (approx) : C$, RM down by RM0.30, S$ - 0.30, Aud$ - 0.20, Euro - 0.90, etc. As per 30.04.15 qtr, borrowings in C$100,858K - Forex loss = RM30M, S$175,700K : RM53M, Aud$122531K : RM24M, Euro44853K : RM40M. These 4 currencies denominated borrowings alone between 30.06.15 to todate, roughly forex loss = RM147million.
Even u ask question, do u really think u would get an answer?? The Co and its directors does not know what biz they want to do. So they just do a bit of this and that. Get/Borrow some money and buy plentiful of assets and hope these assets make some profit for the Co. Also, 2 of their directors were criminally charged by SC. So u think u will get a truthful answer if they have one?? Co is listed under property segment but property development revenue for 6 months is only RM853K only!!! See they dun even know what segment the Co is! Land held for development has been there for several years. Maybe 200 years later the Directors may wake up and realise besides holding for development, they should actually develop these land to derive income. 31.07.15 results show hundreds of millions in investment securities but deriving loss of RM25 million. Even an idiot who puts hundreds of millions will derive positive profit if put in FD. Rubbish Co.
SentulMali, you commented on their foreign currency denoted borrowings. Now, they don't even disclose the Group's borrowings in foreign currency. Economical with disclosure of information.
Suddenly become active. Trump Vancouver is going to be completed in a few months time. Another asset in TAGB investment portfolio. Serviced apartments in the project are almost sold out. Should be able to book good profit.
Since the project was announced, residences at Trump Vancouver have sold at a higher price-per-square-foot than any other property in Canada. Averaging $1,610 per square foot, the current 214 units are completely sold out, with the sub-penthouse closing for $6.74 million. Three exclusive top-floor penthouses – which have captured the attention of the region’s most prominent residents as well as international buyers – will go on the market early next year.
I have been following this stock since 2010. Most comments don't touch on fundamentals of this company. Your research may pay off. I have a good feeling looking with the near completion of Trump tower and also good property sales in sydney, Australia. Property next to KLCC getting closer to launch. If for this new project, TAGB were to raise funds, they could do so by creating a REIT for their hotels and other properties. That will unlock its value and send stock price much higher. I hope !!!
FortisBC Centre which is just next to Trump Tower is also owned by TAGlobal. Renovation was also done on FortisBC Centre to create additional retail floor space n good connectivity with Trump Tower. Therefore, this completion of Trump Tower is also enhancing the value of its existing property.
We shall see. With new CEO coming on board since end 2015, I am sure he will lead the company to another level. In fact, he has proved himself for Trump project's success.
A hospitality reit may be a good way to monetize the hotels. However, the management has mentioned about this 4 years ago but it has not resort to this channel. This leads me to think that the management has no intention to establish a REIT under the current organisation structure.
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....
Popeye1
44 posts
Posted by Popeye1 > 2015-06-02 22:26 | Report Abuse
Long term yes...Short term don't waste time....