What You Should Do Remain invested in this stock. The stock trades at a huge 67% discount to its RNAV/share and we believe that the discount will narrow as the newsflow on JQ should be positive in the next few quarters. Our earnings forecast for JQ is conservative. We assume that the project will only begin to contribute to SBC's bottomline in FY16 and post an average pretax margin of 20-25%. Among the property stocks under our coverage, SBC's GDV/market cap ratio of 19x is the highest, indicating that the stock has potential value to be unlocked.
Source: CIMB Daybreak - 19 May 2014, Full PDF Report
and public research is very misleading as it stating that RNAV (Revaluated Net Assets Value) is RM3.90, but SBC has not revalued its landbank for long time (most of the land acquired on 200X)..RM3.90 mentioned that is the NAV (Net Assets Value) of SBC but not the revalued...how they can make such mistake
On the current date Sbc Position is Neutral - Flat based on Medium Term analysis and is Long - Strong Buy based on Long Term. Asset "Volatility Risk" is Medium and "Liquidity Risk" is Medium - High. In the Medium Term, Begin of a negative phase after a reversal. A short term downward move is expected. In the Long Term, Possible Top of the bull cycle. Although the stock is still pushing up, Its momentum is weakening.
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....
pro888
182 posts
Posted by pro888 > 2014-05-14 15:26 | Report Abuse
The report out soon ..