2016年2月19日星期五

5191 tambun indah 恒大置地 rm1.34 加码--

2015財政年全年股息達到9.7仙,提供7%誘人週息率。(dy=5%,股价为rm1.94)
若是2016財政年全年股息達到8仙,提供5%週息率,则股价为rm1.60
为产业1~2 年后回温作准備,现虽不確定到低部,但己回穩,目前进入保守收息与趁低价收集,
未來肯定丰衣足食,公司于2015 年6月未发展地库有472 英畝,足以提供未來6~7年的发展须求,
于2015 年9月30 日公司现金有1.2 亿,債务为1.84 亿.
tambun 为2013年,2014,2015 福布斯亞州中小企业200强上榜公司.
http://www.malaysiastock.biz/Corporate-Infomation.aspx?type=A&value=T&securityCode=5191

Tambun Indah’s unbilled sales at RM343 million in third quarter(30-09-2015)

Tambun Indah gets nod for new property launches

By RHB Research / The Edge Financial Daily   | December 9, 2015 : 10:12 AM MYT   

This article first appeared in The Edge Financial Daily, on December 9, 2015.


Tambun Indah Land Bhd ( Valuation: 1.80, Fundamental: 3.00)
(Dec 8, RM1.44)
Maintain buy with unchanged target price of RM1.81: After numerous delays, Tambun Indah Land Bhd (Tambun Indah) finally received its Advertising Permit and Developer Licence (APDL) last week from the urban wellbeing, housing and local government ministry to launch its new projects.

Recall, due to the long-awaited process to obtain the APDL, Tambun Indah had not been able to roll out any new projects this year, except for Raintree Park 1, launched in January.

This has negatively affected the company’s property sales this year, with nine-month sales achieving only RM193 million, versus full-year RM429 million in 2014.

As the delay has dampened new sales this year, we expect it to grow significantly stronger next year to around RM350 million to RM400 million.

Both projects, Avenue Garden and Raintree Park 2, have a combined gross development value of RM300 million, and we gather that the average booking rate has already hit 50% to 60%.

We are confident that these projects can sell well, as the recently opened GEMS International School provides good visibility on the growth prospects of the township, and some commercial shops would also be handed over soon.

We reiterate that, unlike elsewhere in Malaysia, where demand for properties is sluggish coupled with moderate oversupply issue, Penang mainland market remains healthy.

We continue to like Tambun Indah as it is a good proxy for Penang mainland growth story. — RHB Research ( Valuation: 1.35, Fundamental: 1.10), Dec 8