The thing with housing is, they dont really drop in price... if the price is not right, you can hold it, rent it or just keep it there. Based on their quarter report, they keep mentioning on unbilled sales etc. and keep highlighting on the new accounting practice. Correct me if im wrong is that, as long as the house have not completed, they cannot recognize the sales proceed. Even though the buyer has signed their spa and etc.
Personally feel extremely poor results. Believed many felt con by the management as recently someone quoted some overseas profits may be booked into the accounts. Good luck and at best for speculation, no improvement after listed and was traded significantly below IPO, except management remuneration may be higher.
the last minutes slight rebound mean someone think lower loss compared to previous quarters is a good news as coming quarters shall have profit coming in 2018?
Goreng counter every qtr report loss.. big boss vacation london, australia with family for business trip while actually shoppoing at harrods sponsored by shareholders, kah kah kah!
Did not go through the IPO doc, believed many feel con. So, just be patient for next 3 months and see how they continue too give good excuses and possible surge in remunerations.
My interpretation is the same, income is realized upon unit handover to buyers. The current results are as such due to no recognized income yet, patient is needed. According to Annual report 2017, first unit handover is between mid to end of 2018 is no delay. We can expect some greenish numbers by then. Let's wait then.
Please correct me if I have made mistakes, Thanks.
lincm86 u r very wrong to believe that , developer starts to generate income follow the payment schedule in SPA, the very first income is 10% downpayment upon signing of SPA, follow by completion of foundation work. Upon handover time, left only can collect very minimum. Hope this help u to understand correctly for investing your fund in any developer share counter.
thek your understanding is for malaysia's revenue recognition of property development, not international. EWI is following international recognition of revenue for property development, which is only recognizable once property is handed over. Read the annual report for the detailed explanation.
lol, thek, your explanation is for contractor la... doesn't matter local or international... lol developers fork out money (in this case, from us shareholders) to develop and pay contractors.... they only get profit after selling the units... lol... its the contractors who get paid progressively with shareholders money
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mancingbursa
4,268 posts
Posted by mancingbursa > 2018-03-13 14:45 | Report Abuse
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