FY end Feb 2019 will be a record year for EUPE. Mainly from the progress of their Novum project in Bangsar South. PATAMI for FY19 should be around RM25mil which values the company at only 3.5x PE. Very undervalue.
For continuation of revenue and profits, the company hopes to launch the Vivus project, located in Seputeh (in front of Mid Valley) sometime in the 1H of 2019. If the project managed to received the same level of attraction as Novum (96% take up rate), this would truly means that the company is currently undervalue.
PE below 4x. PB around 0.3x Steady cash flow from the progress of Novum Bangsar project. Will need to see the take up rate for Parq3 Cheras whether it has improved or not.
Future growth will come from Vivus Seputeh.
Only issue is their resort in Kedah. If they can turn it around it will be great.
Should be by the end of this week. Profit to shareholder would most probably double compared to 4q18. Expect full year 19 profit to deliver above rm20mil to shareholders.
Valuation is really low at PE of 4x and PB of only 0.3x. Parq3 take up rate was at 70% in the last quarter. Hopefully it will increase again in 4Q19.
The Cinta Sayang resort is still a drag to the company's bottom line around rm4mil losses per annum. If management can come up with a solution for the resort, group's profit could potentially go up by another 20%.
One of the cheapest property developpers stock at the moment both in terms of PE and PB.
Future profit contributor will come from Vivus Seputeh and Parq3 Cheras.
Looks like a good company, too bad it does not pay dividend. Also, their golf resort and property construction division is lost making. Certainly, one to watch for me.
I think investors need to take note that the 4Q19 profit to shareholders of RM13.8mil will most probably be a one off event. The high profit for the quarter was mainly due to the reversal in marketing and distribution cost relating to the Parq3 project amounting to RM7.6mil. If you were to adjust the marketing cost to around -RM5mil (which is around the average for the past 2 FY), the PAT for the quarter would have been similar to 3Q19 PAT of around RM10mil. Profit to shareholders would have been between RM4 to 5mil bringing the full year profit to around RM20mil vs the reported profit to shareholders of RM30mil.
That being said even at RM20mil PAT the valuation for Eupe is still very cheap at only 4.5x PE. In terms of PB the company is only trading at around 0.3x. Still a very good buy.
This quarter earn 8ct,if continuus earn 8ct per quarter,then 8quarter will earn 64ct.This mean your capital will become 100% in two years time.Invest 64ct,after two you will earn 64ct.It's unbelievable.
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Posted by KeepInvest123 > 2017-11-21 15:51 | Report Abuse
what happened to the market recently ?? majority of counters are drop...