All those choose to sell at this low price are those who are always losers in Bursa.
This Financial Year probably will show record profits with current unbilled sales in property development of rm1.03 billion and construction order book of rm 1.5 billion.
I estimate about rm500 million in property development will be booked in upon completion and hand over of 1098 units of the Park Sky Residence in BJC, likely by June 2019.
EXACTED FROM THE ANNUAL REPORT 2017 CHAIRMAN STATEMENT DATED 23RD OCTOBER 2017.
"Moving forward, the Group’s prospects will be supported by its unbilled sales of RM1.1 billion. This new unbilled sales will provide the Group with good earnings visibility over the next few years. With an estimated gross development value (“GDV”) of RM9.2 billion, the remaining prime landbanks in Klang Valley and Johor are expected to support the Group’s growth over the next 8 years. Barring unforeseen circumstances, the Group plans to launch the final tower of The Park 2, Bukit Jalil City and two new projects with a total GDV of approximately RM1.2 billion in the current financial year ending 30 June 2018. Launched in August 2017, the final tower of The Park 2 (Tower 2) enjoyed a strong take-up rate, while Duta Park comprising 1,376 units of serviced apartments and Villa 22 Bukit Rimau comprising 22 units of semi-detached houses and bungalows will be launched soon. On the same note, the Group will continue to search for more strategic land bank to replenish the existing acreage, especially in Klang Valley and Johor."
NO WONDER TSRDL CONVERTED HIS 29 MILLION RCSLS INTO SHARES @RM1.00 INSTEAD OF REDEEMED FOR CASH IN THE 1ST HALF OF 2017. TSR BOUGHT ANOTHER BLOCK OF SHARES IN APRIL AND MAY 2018 AT AN AVERAGE OF APPROX 0.65 PER SHARE.
note the last Quarter results FY ......Q No.... Revenue...............PBT Jun18..... 4......RM274,555,000... RM16,583,000 Jun18..... 3...... RM177,597,000...RM6,052,000
The last quarter financial results, if compare PBT QoQ, it is actually not bad. Look at Malton past earnings, it seems that the reported profits will soar upon completion and handing over of property development projects during the reporting quarter.
For easy reference, check the Quarterly Results for Malton in the link below. Quarterly results are erratic. Should at least look at the Annual Results to smooth out the quarterly fluctuations in gaining a better and bigger picture. The dividend payment is consistent and paid 2.5-3.0 sen per share since 2012.
many investors are short term fast in fast out trading type... the reaction of traders could be on the emotion side after seeing a quarter with less profit. ..very jitterly
As reported in the Chairman Statement, AR 2017, Duta Park Residence would be launched in the financial year ending June 2018. It was launched since April. The booking and take up rate to date is very encouraging. More than 50% have been booked, according to my market intelligence. Probably, this is also because the selling price is more affordable, per sq ft is less than RM600.
There are 1376 units •Type A - 957 sq.ft, 736 units 53% •Type B - 1129 sq.ft, 186 units 14% •Type C - 1538 sq.ft Dual Key, 186 units 14% •Type D - 858 sq.ft, 268 units 19%
Total GDV is RM850++ million and targeted completion is 2022.
It is a JDA and the proprietor's entitlement was fixed at RM74. 8 million, hence the profits would be quite good. This would add to the unbilled Property Development Sales which stands at RM 1.03 billion as of 30th June 2018.
Earnings visibility for the next few years is much enhanced with The Duta Park Residences.
July UP with huge volume of 227M (total share in issued 528M). AUG drop with much less volume of 68M. In the last 2 weeks of Aug, price dropped from a high of 67.5 to 58, - 9.5 on total 22.83M only.
LAST 2 DAYS. DAILY DATA : ON 3.9.18........55.5...56......53.....54.5.....2.17M ON 4.9.18........54......57......54.....56.5.....1.41M
If someones collected on the way down and on the way up, during these few months since May and the price was so cheap, free float would be much lesser already loh...
Recall TSRDL converted 29 million shares @RM1 in 2017 and bought 10million shares from the open market @estimated average 65 cents in April and May. The total 39 million shares average about 91 cents.
PAVILION BJC MALL will be supported by 464,300 Bukit Jalil population alone by 2020 when it is due for opening.
"With a net lettable area of 1.8 million sq ft, Pavilion Bukit Jalil City mall is poised to be a regional mall in term of brands mix, flagship stores and concept.
Once completed in 2020, the mall and also the offices will provide thousands of employment opportunities, and Bukit Jalil’s population and employment are projected to increase by about 24.2 and 51.6 per cent to 464,300 and 273,121, respectively, from 2000."
6 years accumulative EPS = 63.76 cents 6 years accumulative Net Profit = RM288.22 million. Current share price, 56 cents Current Market Capitalization, RM296 millions
WOW! ISN'T THAT CRAZY?
TSRDL bought 3.2 million shares in April this year at the price range of 75 to 86 cents and again 6.8 million shares in May at the price range of 54.5 to 59.5 cents. He surely thought the prices were absurdly cheap.
The total 10 million shares is about 2% of the total shares in issue of 528 millions. TSR cannot continue to buy thereafter as he will trigger an MGO if he increases his stake by more than 2% in any 6 months period, which is the CREEPING THRESHOLD for an MGO. He can continue to buy again in Nov/Dec. Would him? Won't him? He is a smart businessman.
Market Cap is only rm277 millions Unbilled property sales is rm 1.03B Construction order book is about rm1. 5B RNAV is about RM 3 per share NTA RM 1.73 DIVIDEND YIELD is about 4.76 %
If you are a long term investor, Use foot to think also can arrive at the correct answer... haha
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....
jacksonfoo88
47 posts
Posted by jacksonfoo88 > 2018-09-02 21:04 | Report Abuse
tomorrow sure up