i trade on HH for more than 1 year.... may be trapped many times already... remember, i stuck 1.65? the rest cleared.. i dont want to be trapped again unless reach that amt again. PN17 or not, to me they are still the same
what nonsense is this ? Ho Hup next quarter result ended 31 March 2015 is supposed to be released by end May. It is not supposed to be released in the month of April
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winPLUSwin Quarter report delayed announcement, supposed on 24-4-2015. Now revised to 5-5-2015 27/04/2015 13:23
most property stocks are dropping. So called experts all called for downgrade of this sector and recommended us all to pull out and avoid. So how to go up for the time being ? Question here is: should we pull out too ? everyday dropping. what do you do now?
Hohup is fundamentally sound and very undervalued compared to its peer. It is not a straightforward property play as it has locked in confirmed revenue stream from JV with malton over next 8 years. Look at price weakness as opp to buy in.
Developer to build on mixed development project’s success
PETALING JAYA: Small cap construction and property developer Ho Hup Construction Company Bhd will leverage on its Bukit Jalil mixed integrated development of 7.2 acres where sales so far on its first five acres have been a success.
Known as Aurora Place, the five-acre plot comprises shop offices, retail floors and SoVo (small offices, versatile offices). It will retain its 18-storey office block for recurring income. The project is fully sold.
Chief executive officer Derek Wong Kit-Leong said the company would launch projects on its second parcel next year. Ho Hup has about 10 acres on a gross level and about 7 acres after making adjustments for infrastructure with a combined gross development value (GDV) estimated at more than RM1bil.
Its 10 acres is part of the 60 acres held by its subsidiary Bukit Jalil Development Sdn Bhd (BJD).
The other 50 acres would be developed under a joint development agreement between BJD and Pioneer Haven Sdn Bhd, a subsidiary of Malton Bhd.
Wong said going forward, the success of Aurora Place and its joint development with Malton would help build up its cash position. Ho Hup would be entitled to 18% of the GDV ranging from RM4bil to RM4.5bil for the 50-acre project.
The company has been building up its revenue and profit the last couple of years under Wong’s leadership.
The company officially made an exit from its PN17 status - which denotes distressed companies - last year. It was under PN17 status since 2008.
Moving forward, Wong describes the company as being in a fairly comfortable position and was voted as the top five among 30 small cap jewels in 2015 by RHB Investment Bank.
“We are basically leveraging from the money which is going to come in from the 50 plus 10 acres, which is between RM90mil and RM100mil annually for the next seven to eight years,” said Wong.
He said the company plans to put aside between RM300mil and RM400mil for the next two years to increase its land bank in the Klang Valley, Penang and Kota Kinabalu in Sabah. It is interested to build more hybrid development the likes of Aurora Place.
Wong said the company would like to increase its after tax profit of about RM65mil last year by between 20% and 25% a year.
Ho Hup has two core businesses, property development and construction with property development contributing 80% to profit and the remaining 20% from construction although on a revenue level, contribution from both are about equal.
The company has unbilled sales of about RM576.9mil, of which RM275.4mil are from its Bukit Jalil development and the remaining RM301.5mil from its construction projects.
Aurora Place has been fully taken up with unbilled sales of RM275.4mil as at the end of Febuary 2015.
It would retain an 18-storey office block for recurring income.
so the after tax profit of 2015 financial year will be between 80.4million ( 67million x 1.20 ) to 83.75million ( 67million x 1.25 ) ? according to "Wong said the company would like to increase its after tax profit of about RM65mil last year by between 20% and 25% a year. "
Buy protasco board room fight. Value 3.00 with crony ceo chong ket pen buying shares fight with hasnur his old partner! Read the competitor news, another ho hup fight in bigger scale!
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....
YOLOOOO
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Posted by YOLOOOO > 2015-04-23 12:38 | Report Abuse
wa i3i2i1 , you are more greedy than me haha