Mitrajaya is the twin of Titijaya, same NTA, Par value, shares issued but not same EPS yet, if Mitra can get 5cent++ EPS then only can move forward, else go back to hibernation
According to the Financial results today, MITRA's EPS at 3.41 sen for the last quarter. EPS 7.43 sen for YE2013. Board of Directors recommending a 2 sen dividend (just over 4% based on current market price). MITRA dividends are usually announced in May.
2013 Profit higher than 2012, but to be fair, this is mainly due to disposal gain on investment in an associate company (3.8m profit).
Only major concern with this stock is probably their cashflow - relatively high short-term borrowings and bank overdrafts. Somewhat risky, given the sluggish property market.
On the plus side, Net Asset per share at 88 sen. Stock might still have some 'kick' left in it.
1) Mitrajaya is a construction company but actively engages in the property segment. 2) Current order book stood @ RM 890 million. Half of it from Putrajaya Holdings (a subsidiary of Petronas under KLCCH) 3) New projects to be launched :
Besides, the Group is actively working on the following 2 property projects with combined gross development value in excess of RM1.6 billion: a) Proposed development of 3 blocks of condominiums (565 units) in Wangsa Maju, Kuala Lumpur - target launching by end of 2014
b) Proposed mixed development comprising 3 blocks of serviced apartment, 1 budget hotel and shopping mall in Taman Puchong Prima - target launching in 2015
However, someone is heavily manipulating the prices, my bet is some insider, probably the MD.
The company has good landbank and good fundamentals.. I think it got a little under the weather because of entering into high end condo Kiara 9 at the tail end of the property boom.. It used to give good dividend, but the last 2 years div yield reduced.. sadly.
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....
Danielle
104 posts
Posted by Danielle > 2013-10-18 11:53 | Report Abuse
Still sleeping..