Big plans brewing at Carey Island
DATUK Ng Thian Hock (pic) is visibly excited when he talks about his latest project, the Amverton Cove Golf & Island Resort.
That development is part of a RM10bil project which sits pretty on a massive 2,000 acres at Carey Island, to the south of Port Klang.
“You must come see the place for yourself; the air is fresh and there’s so much greenery. It’s really different from here,” he tells StarBizWeek.
Trained as an engineer, the 60-something year old Klang native comes across as totally no-frills. He appears laid-back, carefree but with plenty of business acumen.
He bought his first piece of land more than 30 years ago in Teluk Pulai, Klang.
“I bought 10 acres there for about RM100,000. Today it’s worth RM2mil.”
Needless to say, that transaction ignited his interest in the property sector and consequently resulted in the birth of A&M Realty Bhd which was established in 1978 after Ng left the civil service.
Since then, the company, which brands itself as a lifestyle developer, has completed and delivered housing, commercial and industrial units worth RM1bil.
Still, this is by no means terribly aggressive given that the property industry here has been growing so rapidly over the past few decades.
“I like to do things properly – slow and steady,” he says which probably explains why the company which was listed way back in 1995 has never really showed up on the radar of analysts.
But things appear to be changing, especially with the progress at Carey Island.
Ng, who together with his family control 71.56% of A&M, recently spoke to a group of property analysts on the lookout for undervalued property counters.
Along with its counterparts, the A&M stock has gone up post general election, surging as much as 31% to the current price of 95 sen.
Even so, it remains “grossly undervalued”, if you compare the value of its assets to where its stock price is, says one analyst, although this issue is common for most property companies.
He points out that A&M’s 2,000 acres on Carey Island was purchased for less than RM1 per sq ft. Although the company has never revalued its landbank, based on the current market, the plot is valued at more than RM50 per sq ft.
In other words, A&M paid out less than RM100mil for that 2,000 acres which is now worth RM4.2bil.
That alone values the company at about RM11.50 per share, based on back-of-the envelope calculations.
Game-changer
The Carey Island development is definitely a game-changer for the company, Ng notes.
“People are increasingly becoming more open to the idea of living away from the city.
“They are starting to realise that if you want to live in big, open spaces, being away from the city is not too big a sacrifice...”
Leveraging on this trend as well as a host of other practical reasons such as better connectivity and infrastructure is why the company is only now choosing to start development on this tract of land it purchased more than 3 decades ago.
The 2,000 acres with a potential gross development value (GDV) of more than RM10bil will be developed over a period of at least 15 years.
Kick-starting the huge project is the Amverton Cove Golf & Island resort, which is 25 minutes from Klang via the Kesas Highway and 30 minutes from Subang and Puchong using the newly completed South Klang Valley Expressway.
Only two months in operations so far, it has already managed to attract the rich and famous who visit to play golf, according to director Milton Norman Ng.
Its flagship hotel, which also features chalets, is expected to be completed early next month.
“There will be many phases to this development project and this will include homesteads, bungalows, service apartments, hotels and theme parks,” Milton says.
Milton, who is Ng’s second son, says for this year, the focus will be on building up the resort and hotel business. Also in the pipeline is the launch of 50 homesteads of one-acre each.
The houses will be priced at around RM2.8mil per unit.
Despite an obvious slowdown in the local high-end segment largely as a result of more stringent banking requirements to curb speculation, Milton is quite confident of selling these high-end homes.
“We are selling a lifestyle product at the price of a condominium or semi-detached house in KL.
“With only 50 units for sale, this shouldn’t be a problem,” he insists.
Because of the company’s extremely low land cost there, net profit margins for its Carey Island projects are much higher than the typical 15% to 20% most property companies generally make, Milton says.
“Do you really want to count our margins, given our low entry cost,” interjects senior Ng in jest.
Still, the company will take into account prevailing market conditions and will plan its launches progressively, he says.
Other than its landbank in Carey Island, A&M also has 20 acres left in Bukit Kemuning, Shah Alam, 180 acres in Morib, Selangor and 3 acres in Mont’ Kiara, ready for development.
In Bukit Kemuning, A&M has its freehold Amverton Park @ Bukit Kemuning Golf & Country Resort project, which has been well-received since its launch in 2007.
Amverton Park consists of 141 units of double-storey Australian inspired bungalows, of which existing phases have been handed over vacant possession in 2010, 2011 and 2012 respectively.
This year, it will launch the final phase of the bungalows, comprising 20 units with a GDV of RM50mil-RM60mil.
From next year onwards, launches in Bukit Kemuning will comprise high-rise apartments which should be priced at between RM400 and RM500 per sq ft, says Milton.
As for its commercial properties there, namely Kemuning Taipan shop offices phase 2 & 3, these have been fully sold and handed over vacant possession early this year.
Over at Morib, which is primarily a beach area, there are no concrete development plans as yet while in Mont’Kiara, plans to launch high-rise residential units are currently put on hold owing to the “relatively soft market in that area”, Milton says.
“Margin-wise, our Mont’Kiara project should be within industry standards but we have to time the launch carefully.”
Milton says the company, which is in a net cash position of RM80mil at this point, is always on the lookout for good opportunities land-wise.
It is understood that the Ng family will inject some of their personal assets, i.e. 145 acres in Sungai Buloh into the company very soon.
They are tight-lipped about this but note that A&M has had experience developing land there with its Puteri Subang project which involved developing some 50 acres into residential and commercial units.
Significant earnings
With plans in place and momentum clearly picking up, earnings are expected to kick in a “significant way” in about two years, says Ng.
Although A&M has four core divisions from which it generates money from, it is property development and construction that makes it the most profit, contributing more than half of its revenue and at least 75% of its pre-tax profit.
The other three divisions are leisure/resorts/golf courses, oil palm plantation and manufacturing and trading.
A&M’s current unbilled sales stand at RM45mil.
In its latest fiscal year ended Dec 31, 2012, the company made a net profit of RM27.1mil or 7.43 sen per share compared with RM25.2mil or 6.91 sen per share while revenue stood at RM140.2mil, marginally higher than the RM139.7mil made a year earlier.
Not immune to the usual challenges that face property players such as escalating construction costs and inflation, Ng says the biggest issue for the company thus far has been getting the Carey Island golf resort off the ground. “Now that it is done, it is a matter of planning and timing our other launches.”
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That development is part of a RM10bil project which sits pretty on a massive 2,000 acres at Carey Island, to the south of Port Klang.
“You must come see the place for yourself; the air is fresh and there’s so much greenery. It’s really different from here,” he tells StarBizWeek.
Trained as an engineer, the 60-something year old Klang native comes across as totally no-frills. He appears laid-back, carefree but with plenty of business acumen.
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“I bought 10 acres there for about RM100,000. Today it’s worth RM2mil.”
Needless to say, that transaction ignited his interest in the property sector and consequently resulted in the birth of A&M Realty Bhd which was established in 1978 after Ng left the civil service.
Since then, the company, which brands itself as a lifestyle developer, has completed and delivered housing, commercial and industrial units worth RM1bil.
Still, this is by no means terribly aggressive given that the property industry here has been growing so rapidly over the past few decades.
“I like to do things properly – slow and steady,” he says which probably explains why the company which was listed way back in 1995 has never really showed up on the radar of analysts.
But things appear to be changing, especially with the progress at Carey Island.
Ng, who together with his family control 71.56% of A&M, recently spoke to a group of property analysts on the lookout for undervalued property counters.
Along with its counterparts, the A&M stock has gone up post general election, surging as much as 31% to the current price of 95 sen.
Even so, it remains “grossly undervalued”, if you compare the value of its assets to where its stock price is, says one analyst, although this issue is common for most property companies.
He points out that A&M’s 2,000 acres on Carey Island was purchased for less than RM1 per sq ft. Although the company has never revalued its landbank, based on the current market, the plot is valued at more than RM50 per sq ft.
In other words, A&M paid out less than RM100mil for that 2,000 acres which is now worth RM4.2bil.
That alone values the company at about RM11.50 per share, based on back-of-the envelope calculations.
Game-changer
The Carey Island development is definitely a game-changer for the company, Ng notes.
“People are increasingly becoming more open to the idea of living away from the city.
“They are starting to realise that if you want to live in big, open spaces, being away from the city is not too big a sacrifice...”
Leveraging on this trend as well as a host of other practical reasons such as better connectivity and infrastructure is why the company is only now choosing to start development on this tract of land it purchased more than 3 decades ago.
The 2,000 acres with a potential gross development value (GDV) of more than RM10bil will be developed over a period of at least 15 years.
Kick-starting the huge project is the Amverton Cove Golf & Island resort, which is 25 minutes from Klang via the Kesas Highway and 30 minutes from Subang and Puchong using the newly completed South Klang Valley Expressway.
Only two months in operations so far, it has already managed to attract the rich and famous who visit to play golf, according to director Milton Norman Ng.
Its flagship hotel, which also features chalets, is expected to be completed early next month.
“There will be many phases to this development project and this will include homesteads, bungalows, service apartments, hotels and theme parks,” Milton says.
Milton, who is Ng’s second son, says for this year, the focus will be on building up the resort and hotel business. Also in the pipeline is the launch of 50 homesteads of one-acre each.
The houses will be priced at around RM2.8mil per unit.
Despite an obvious slowdown in the local high-end segment largely as a result of more stringent banking requirements to curb speculation, Milton is quite confident of selling these high-end homes.
“We are selling a lifestyle product at the price of a condominium or semi-detached house in KL.
“With only 50 units for sale, this shouldn’t be a problem,” he insists.
Because of the company’s extremely low land cost there, net profit margins for its Carey Island projects are much higher than the typical 15% to 20% most property companies generally make, Milton says.
“Do you really want to count our margins, given our low entry cost,” interjects senior Ng in jest.
Still, the company will take into account prevailing market conditions and will plan its launches progressively, he says.
Other than its landbank in Carey Island, A&M also has 20 acres left in Bukit Kemuning, Shah Alam, 180 acres in Morib, Selangor and 3 acres in Mont’ Kiara, ready for development.
In Bukit Kemuning, A&M has its freehold Amverton Park @ Bukit Kemuning Golf & Country Resort project, which has been well-received since its launch in 2007.
Amverton Park consists of 141 units of double-storey Australian inspired bungalows, of which existing phases have been handed over vacant possession in 2010, 2011 and 2012 respectively.
This year, it will launch the final phase of the bungalows, comprising 20 units with a GDV of RM50mil-RM60mil.
From next year onwards, launches in Bukit Kemuning will comprise high-rise apartments which should be priced at between RM400 and RM500 per sq ft, says Milton.
As for its commercial properties there, namely Kemuning Taipan shop offices phase 2 & 3, these have been fully sold and handed over vacant possession early this year.
Over at Morib, which is primarily a beach area, there are no concrete development plans as yet while in Mont’Kiara, plans to launch high-rise residential units are currently put on hold owing to the “relatively soft market in that area”, Milton says.
“Margin-wise, our Mont’Kiara project should be within industry standards but we have to time the launch carefully.”
Milton says the company, which is in a net cash position of RM80mil at this point, is always on the lookout for good opportunities land-wise.
It is understood that the Ng family will inject some of their personal assets, i.e. 145 acres in Sungai Buloh into the company very soon.
They are tight-lipped about this but note that A&M has had experience developing land there with its Puteri Subang project which involved developing some 50 acres into residential and commercial units.
Significant earnings
With plans in place and momentum clearly picking up, earnings are expected to kick in a “significant way” in about two years, says Ng.
Although A&M has four core divisions from which it generates money from, it is property development and construction that makes it the most profit, contributing more than half of its revenue and at least 75% of its pre-tax profit.
The other three divisions are leisure/resorts/golf courses, oil palm plantation and manufacturing and trading.
A&M’s current unbilled sales stand at RM45mil.
In its latest fiscal year ended Dec 31, 2012, the company made a net profit of RM27.1mil or 7.43 sen per share compared with RM25.2mil or 6.91 sen per share while revenue stood at RM140.2mil, marginally higher than the RM139.7mil made a year earlier.
Not immune to the usual challenges that face property players such as escalating construction costs and inflation, Ng says the biggest issue for the company thus far has been getting the Carey Island golf resort off the ground. “Now that it is done, it is a matter of planning and timing our other launches.”
Showing 172 of 172 comments.
Social Forum
BC475654 An
interesting write-up on Star Bizweek.Now with regret,I think I cash out
too soon on Fri high.Hiz..... has been one of my weakness:sell to soon
when the counter start to charge like a bull.!May consider to buy in
tomorrow if up trend continue.
16/06/2013 17:37
iafx paid
a lot for IB to make "feel good" story, just look at the lousy DIV
history, really biz so good? not worth to hold long term but probably
good for some quick bucks :D
17/06/2013 09:08
diablo88 This is a lousy stock, do not waste your effort in this counter. It will just suck your money.
17/06/2013 10:28
sense maker A&M
is a classic case of value trap. It has excellent landbank but it will
take a few decades to realise it into cash. All net profits will go to
directors' remuneration in coming 20 years. Its boss runs the company
like his, with no regard to minority shareholders who need dividend. If
only its boss decides to sell assets, the price will go to RM2 easily
but it will not happen as he brings in all relatives and family members
to benefit from the company's net profit generation after generation.
17/06/2013 13:17
4u2c Sense
maker, i like how u express this. No justification for this share to
shoot up at all.Cld be a trap...im out of this counter...
17/06/2013 21:00
crawler there is no fundamental at all for this stock. It will be sold down later. be cautious
18/06/2013 10:13
4u2c up 10 pct more to make us look like fools.? Actually their own people buying ?
18/06/2013 19:28
4u2c Govt
support share but May P n L not too encouraging. Thats why the shares
drop .Worst earnings among all qtrs. Im not an expert,why u ask me all
of a sudden...
18/06/2013 21:57
diablo88 Is a waste of time looking into this counter. You will eventually lose a lot of money if you keep holding.
03/07/2013 11:15
leviathan Posted by kcchongnz > Jul 17, 2013 06:23 AM | Report Abuse
Kia ora - A&M Realty Bhd
Posted by leviathan > Jul 16, 2013 04:36 PM | Report Abuse
Another property development and construction company? I never read anything about their land bank, development plan, location, niche etc. Its Kota Kemuning projects seem to be doing well recently.
Looking at its financial statement also doesn't excite me; No growth. I does have a healthy balance sheet, cash rich, and profit from its business. So I have to look at it if it is a cheap stock to invest by using ColdEye's 5 yardsticks.
ColdEye 5 yardsticks
A&M 1.130
1 ROE 5.2% No
Net profit 27133
Equity 516927
2 Cash flows, average
CFFO 20009 <28600 No
FCF 15674 OK
3 PE ratio 15.2 >10 No
Price 1.130
EPS 0.0743
4 Dividend yield
Dividend , sen 0.00
Dividend yield 0.0% <3.5% No
5 Price/NTA 0.80 <1.0 Yes
NTA 1.416
As I have said, nothing excites me. It has low ROE but selling not cheap at all at a PE of 15. Besides never distribute any dividend for the last few years already. Do this realty really has so much cash ah? If so who get the benefit of the cash?
part here first for my future further reference. tēnā koe
Kia ora - A&M Realty Bhd
Posted by leviathan > Jul 16, 2013 04:36 PM | Report Abuse
Another property development and construction company? I never read anything about their land bank, development plan, location, niche etc. Its Kota Kemuning projects seem to be doing well recently.
Looking at its financial statement also doesn't excite me; No growth. I does have a healthy balance sheet, cash rich, and profit from its business. So I have to look at it if it is a cheap stock to invest by using ColdEye's 5 yardsticks.
ColdEye 5 yardsticks
A&M 1.130
1 ROE 5.2% No
Net profit 27133
Equity 516927
2 Cash flows, average
CFFO 20009 <28600 No
FCF 15674 OK
3 PE ratio 15.2 >10 No
Price 1.130
EPS 0.0743
4 Dividend yield
Dividend , sen 0.00
Dividend yield 0.0% <3.5% No
5 Price/NTA 0.80 <1.0 Yes
NTA 1.416
As I have said, nothing excites me. It has low ROE but selling not cheap at all at a PE of 15. Besides never distribute any dividend for the last few years already. Do this realty really has so much cash ah? If so who get the benefit of the cash?
part here first for my future further reference. tēnā koe
17/07/2013 11:38
leviathan despite all the negative feed backs so far .....leviathan going to sit here patiently waiting
19/07/2013 17:01
silver_zen leviathan. Agreed with you. Good ctr. Sit here wait patiently. I hold this 2 months back at 0.815 ..... happy trading.
19/07/2013 17:03
kakijudi for your info.
their landbank in carey island:
2,000 acres.
purchased 20 years ago at RM0.1 psf. Now it is RM50 psf
2000 acres X 43500=87,000,000 square feet
87m sf X RM50 =RM4.35 BILLION
RM4.35B/ 365,063,800 shares
= RM11.91 PER SHARE
what say you?? haha of course we cannot calculate like that. but this is the value of A&M.
their landbank in carey island:
2,000 acres.
purchased 20 years ago at RM0.1 psf. Now it is RM50 psf
2000 acres X 43500=87,000,000 square feet
87m sf X RM50 =RM4.35 BILLION
RM4.35B/ 365,063,800 shares
= RM11.91 PER SHARE
what say you?? haha of course we cannot calculate like that. but this is the value of A&M.
19/07/2013 17:49
leviathan if that piece of land belong to me & i have intention to sell it away, i might calculate as you did, lol
they are building on Amverton brand name - high end development
the major shareholder & family holding over 71.56%.....(it will be good if i know what are they thinking now , kikikiki ), if they never take care of minority investors as claimed, would they share this slice of meat together with minority shareholders now ?
today volume traded unusually high - 2.75mil
they are building on Amverton brand name - high end development
the major shareholder & family holding over 71.56%.....(it will be good if i know what are they thinking now , kikikiki ), if they never take care of minority investors as claimed, would they share this slice of meat together with minority shareholders now ?
today volume traded unusually high - 2.75mil
22/07/2013 17:10
sense maker Anyone
can verify the current land price psf in Carey Island? I saw a
leasehold land plot seller asking for less than RM10 psf in 2013 in
Carey Island, which makes RM50 psf as claimed in Btimes' interview
seriously inflated.
24/10/2013 08:44
duitKWSPkita Hi FreeThink,
I on board A&M since last friday. Bought quite high price. But dunno why my target price totally different from yours.
Anyway, it is on uptrend!
Happy trading!
I on board A&M since last friday. Bought quite high price. But dunno why my target price totally different from yours.
Anyway, it is on uptrend!
Happy trading!
02/01/2014 10:12
FreeThink hi duit, yes it doesn't matter what is the tp, as long as it can be reached, that's enough...hehe
02/01/2014 10:16
duitKWSPkita Dunno why I see this counter short term TP is RM1.38-RM1.42
May be I am wrong. I am newbie here, hope can learn more from you.
Nice to know you
May be I am wrong. I am newbie here, hope can learn more from you.
Nice to know you
02/01/2014 10:18
FreeThink Sa, just joined this morning...hehe
duit, nice to know u...u based on the company na as tp?
duit, nice to know u...u based on the company na as tp?
02/01/2014 10:25
duitKWSPkita I am very fresh beginner.
I "feel" the Target Price only, because do not know about NA, FA and TA.
I am learning, still very long way to go.
I "feel" the Target Price only, because do not know about NA, FA and TA.
I am learning, still very long way to go.
02/01/2014 10:27
duitKWSPkita Hi Tessa Joseph,
Nice to see you here too. Would you interested to own some property shares? Which counters that you bought already? Can I learn fromn you?
Thanks,
Nice to see you here too. Would you interested to own some property shares? Which counters that you bought already? Can I learn fromn you?
Thanks,
02/01/2014 10:28
FreeThink duit,
we are all learning baby here...hehe...most of the time we stay at our
home thread "flag kakis", feel free to visit us there...hehe
02/01/2014 10:32
duitKWSPkita Thanks for the invitation. You are wrong, I am not learning baby.
I am just learning Fetus or Learning Zygot only. Hahahahah.
Happy New Year, Best luck in 2014. Wish you healthy forever (subject to less sugar/salt/colouring/oil)
I am just learning Fetus or Learning Zygot only. Hahahahah.
Happy New Year, Best luck in 2014. Wish you healthy forever (subject to less sugar/salt/colouring/oil)
02/01/2014 10:35
sephiroth i'm in at 1.01
NEGATIVE No dividend since 2008
POSITIVE
Net profit improving substantially q-o-q
1Q13 RM3.3m
2Q13 RM5.6m
3Q13 RM10.4m Anyone can see the trend?
Positive cash flow from operating activities for many quarters
moderate to low receivables
CASH RM84.436m or 23.12 sen per share
BORROWINGS RM0.133m PUNY DEBT
NEGATIVE No dividend since 2008
POSITIVE
Net profit improving substantially q-o-q
1Q13 RM3.3m
2Q13 RM5.6m
3Q13 RM10.4m Anyone can see the trend?
Positive cash flow from operating activities for many quarters
moderate to low receivables
CASH RM84.436m or 23.12 sen per share
BORROWINGS RM0.133m PUNY DEBT
02/01/2014 15:12
duitKWSPkita wah.......really shoot up now.
suddenly found I got so many A&M bought last last Friday.
Happy trading everybody!
suddenly found I got so many A&M bought last last Friday.
Happy trading everybody!
10/01/2014 10:29
masinnya Good
tip.. Manage to get free breakfast, lunch and possibly dinner today...
Now to cocentrate on GHLSYS for possible free food for the week end..
Everything so expensive now maaa..
10/01/2014 11:09
duitKWSPkita good counter. change terminal now.
I sell some still got some in account.
I sold some and switch to ULICORP now. duitKWSPkita keep some in ULICORP. hahahaha. easy money also.
I sell some still got some in account.
I sold some and switch to ULICORP now. duitKWSPkita keep some in ULICORP. hahahaha. easy money also.
10/01/2014 16:16
Alfarabi Thanks... duitKWSPkita.....
Though bought little only...
Manage to earn few hundred...
Hope that ulicorp would skyrocket also
Though bought little only...
Manage to earn few hundred...
Hope that ulicorp would skyrocket also
11/01/2014 14:35
duitKWSPkita No thanks no thanks. You are lucky when you earn money. I am just a fresh learner here.
hope we can learn together.
hope we can learn together.
11/01/2014 15:13
yoda88 A&M is back to ride again. 10% profit is not impossible for this stock.Bullish pattern today.
05/02/2014 21:18
bonescythe A&M - Awesome and Majestic
http://bonescythe.blogspot.com/2014/03/a-awesome-and-majestic.html
http://bonescythe.blogspot.com/2014/03/a-awesome-and-majestic.html
21/03/2014 02:34
bonescythe http://www.thestar.com.my/Business/Business-News/2013/06/15/Big-plans-brewing-at-Carey-Island-AM-Realty-drawing-up-RM10bil-development-project/
21/03/2014 09:07
sephiroth always cannot get pass 1.14 just like last round, bot 1.02 sold 1.17, gonna buy 1.08 n below for round 2
21/03/2014 11:25
tjhldg hehee ... sephi .. tj last friday satu kali hantam 3 lorry ... wish can la .... think new high soon ... can bo ni ? kikikiiiiii
24/03/2014 02:15
leon7 The previous two runs lasted for two weeks before consolidating.
Let's see what happens for the rest of this week as tomorrow and Wednesday is right at about the two weeks mark.
Let's see what happens for the rest of this week as tomorrow and Wednesday is right at about the two weeks mark.
31/03/2014 17:24
rikki X
Major shareholder of A&M Realty hiving off shares to institutional investors?
http://www.thestar.com.my/Business/Business-News/2014/04/10/AM-Realty-hiving-off-shares-Major-shareholder-said-to-be-placing-out-6-to-institutional-investors/
Major shareholder of A&M Realty hiving off shares to institutional investors?
http://www.thestar.com.my/Business/Business-News/2014/04/10/AM-Realty-hiving-off-shares-Major-shareholder-said-to-be-placing-out-6-to-institutional-investors/
10/04/2014 09:43
johnny cash A&M Realty (AM MK) ---------------------------10//04//14
Technical BUY with +17.6% potential return
Last price : RM1.25
Target Price: RM1.39, RM1.47
Support : RM1.18
Stop-loss: RM1.17
BUY with a target price of RM1.47 with stop
loss placed below RM1.17. Following a
successful breakout above the strong
resistance of RM1.18 (now support) on 31 Mar
14, AM’s share price has created a new high
before consolidating within RM1.18-1.26 in the
last 8 days. Given that the “dragonfly doji”
pattern was formed on 8 Apr 14 and was
followed by a positive closing yesterday, this
has confirmed a bullish reversal pattern. As
buying interest has reemerged, as seen from
yesterday’s higher trading volume of 1.7m
shares (vs 5-day average of 1.1m), we expect
the share price to be ready to resume its
previous uptrend which is likely to be
supported by improving momentum, as flashed
by an uptick in RSI. Moving forward, a positive
closing above RM1.26 should propel the share
price toward our medium-term target, which is
pegged at the 1.61x Fibonacci extension level
of RM1.47.
Technical BUY with +17.6% potential return
Last price : RM1.25
Target Price: RM1.39, RM1.47
Support : RM1.18
Stop-loss: RM1.17
BUY with a target price of RM1.47 with stop
loss placed below RM1.17. Following a
successful breakout above the strong
resistance of RM1.18 (now support) on 31 Mar
14, AM’s share price has created a new high
before consolidating within RM1.18-1.26 in the
last 8 days. Given that the “dragonfly doji”
pattern was formed on 8 Apr 14 and was
followed by a positive closing yesterday, this
has confirmed a bullish reversal pattern. As
buying interest has reemerged, as seen from
yesterday’s higher trading volume of 1.7m
shares (vs 5-day average of 1.1m), we expect
the share price to be ready to resume its
previous uptrend which is likely to be
supported by improving momentum, as flashed
by an uptick in RSI. Moving forward, a positive
closing above RM1.26 should propel the share
price toward our medium-term target, which is
pegged at the 1.61x Fibonacci extension level
of RM1.47.
10/04/2014 19:30
AhMoi johnny cash http://finance.yahoo.com/news/futures-flat-initial-claims-data-115744887.html11/04/2014 07:29
11/04/2014 07:40
leon7 So far this year my counters have been profitable. AsiaPac, Dsonic.
Sime Darby is starting to develop their land in Carey Island, hopefully people will take notice of A&M soon.
Sime Darby is starting to develop their land in Carey Island, hopefully people will take notice of A&M soon.
11/04/2014 11:12
min35 congrats leon7. i must also follow you to buy all the profitable counter. :))
11/04/2014 13:33
leon7 liming32, I don't think I'm a qualified professional to give advice so just take this as my personal opinion.
When buying a stock, most people only buy when they see the price dropping cos they feel it's a 'bargain'.
I buy based on the potential upside of the stock, even if it has risen. If your TP for A&M is 1.80, you are still making a good margin at 1.36.
If upside potential is way greater than the downside risk, then I would always buy.
When buying a stock, most people only buy when they see the price dropping cos they feel it's a 'bargain'.
I buy based on the potential upside of the stock, even if it has risen. If your TP for A&M is 1.80, you are still making a good margin at 1.36.
If upside potential is way greater than the downside risk, then I would always buy.
14/04/2014 11:43
tjhldg aeh aeh aeh ... so far as i know ... most people only buy when stock is up ... : )
14/04/2014 23:17
tjhldg ha
siam 88 ... what your first buy price for symlife leh .. tj is 1.00 and
base on what for tp 1.46 ni ? thanks :) ... all the best
A & M is still damn undervalue at current price ... worth to simpan for midterm
A & M is still damn undervalue at current price ... worth to simpan for midterm
20/04/2014 16:11
min35 keep it up......siam8888 you so nice to always keep the mood up in this forum :))
21/04/2014 12:16
tjhldg congrat siam 8888 ... symlife .. tj is 1.00 lately 1 ... 2013 one is 1.10 .. but till now bbq 90 % liau .. u ? still holding ?
A & M is sui sui liau ...bal just simpan lah ,,, also bbq 80 % liau , many punya pasai :) is trading hantam ... kikikikii
A & M is sui sui liau ...bal just simpan lah ,,, also bbq 80 % liau , many punya pasai :) is trading hantam ... kikikikii
22/04/2014 23:08
AhMoi o...1.52.. that is not exactly GROSSLY undervalued too, is it?? ; )
just A LITTLE BIT undervalued.
just A LITTLE BIT undervalued.
23/04/2014 15:16
rikki @ahmoi....please refer to the article written by bonescythe and a few more links posted earlier in this thread.
25/04/2014 19:32
AhMoi rikki, tq
rnav could be, conservatively at rm 5.00, fully at rm 11, that is more like a grossly undervalued counter ler.
will get some, as I understand a few millions shares have be transferred out, recently, by the ngs for the purposes of increasing free float for added liquidity, for market making, for goreng to be more straight to the point.
rnav could be, conservatively at rm 5.00, fully at rm 11, that is more like a grossly undervalued counter ler.
will get some, as I understand a few millions shares have be transferred out, recently, by the ngs for the purposes of increasing free float for added liquidity, for market making, for goreng to be more straight to the point.
28/04/2014 09:44
AhMoi indeed, my timing is not bad. But target just 2+, who is right? who is wrong?
http://www.theedgemalaysia.com/mobile/article.php?id=287093
http://www.theedgemalaysia.com/mobile/article.php?id=287093
28/04/2014 13:26
AhMoi People here using second hand information to come to 5 - 11 ka?
Well, at least the goreng part is mentioned in the analysis, let's wait for it.
Well, at least the goreng part is mentioned in the analysis, let's wait for it.
28/04/2014 19:34
AhMoi : ( wrong calculations by people here have set up investors with high hope.
now the price is dropping like mad as the target price is just 2.12.
people people, kindly be more careful with your calculations in future, don't simply tembak.
now the price is dropping like mad as the target price is just 2.12.
people people, kindly be more careful with your calculations in future, don't simply tembak.
29/04/2014 10:12
935win This
company current asset from 2008 RM3.3b increase to RM4b (2012)but the
current liabilities only RM77m,the cash from 2008 RM32m increase to
RM82m (2012).
29/04/2014 11:26
935win No worry fundamentals is good,
A&M disappreciation due have many land buy in at 20 or 30 years ago.
A&M disappreciation due have many land buy in at 20 or 30 years ago.
30/04/2014 08:21
PasangKia I am from Pasang, Hokkien for Klang.
A&M is also from Pasang.
A&M has about 780 ha of land in Pulau Carey.
Pulau Carey used to be a God forsaken place 30 years ago.
For that matter, even Pulau Indah, its much bigger neighboring island, and where the now very busy Westports of Port Klang and the Port Klang Cruise Terminal are located was also used to be a God forsaken place some ten fifteen years ago.
But, all these are going to change now. With the South Klang Valley Expressway (SKVE) directly linking Putrajaya/CyberJaya to Pulau Indah and thus Pulau Carey too slated to be ready by 2015, Pulau Indah/Pulau Carey will be a God forsaken place no more.
The SKVE is a rather nice expressway, the side from Putrajaya/Cyberjaya to Pulau Indah is actually ready for use, and I particularly like the part of the expressway leading to the bridge crossing over to Pulau Indah.
it is interesting because, you see, this bridge has to be built so very high to enable ships to pass thru underneath. It is so very high that when approaching it from some 5 KMs away it seems the expressway is leading you to Heaven and your car is going to take off and fly into the sky. Awesome!!
Go check it out now and drop by Pulau Carey for seafood, or go to Klang for Bak Kut Teh. The whole journey will take just about 25 minutes.
A&M is also from Pasang.
A&M has about 780 ha of land in Pulau Carey.
Pulau Carey used to be a God forsaken place 30 years ago.
For that matter, even Pulau Indah, its much bigger neighboring island, and where the now very busy Westports of Port Klang and the Port Klang Cruise Terminal are located was also used to be a God forsaken place some ten fifteen years ago.
But, all these are going to change now. With the South Klang Valley Expressway (SKVE) directly linking Putrajaya/CyberJaya to Pulau Indah and thus Pulau Carey too slated to be ready by 2015, Pulau Indah/Pulau Carey will be a God forsaken place no more.
The SKVE is a rather nice expressway, the side from Putrajaya/Cyberjaya to Pulau Indah is actually ready for use, and I particularly like the part of the expressway leading to the bridge crossing over to Pulau Indah.
it is interesting because, you see, this bridge has to be built so very high to enable ships to pass thru underneath. It is so very high that when approaching it from some 5 KMs away it seems the expressway is leading you to Heaven and your car is going to take off and fly into the sky. Awesome!!
Go check it out now and drop by Pulau Carey for seafood, or go to Klang for Bak Kut Teh. The whole journey will take just about 25 minutes.
07/05/2014 11:34
PasangKia SAB
is also from Pasang. SAB has gone up a lot recently. Pasang has a lot
of hidden rich men, a hot tip for you girls. Of course, you not going
for the lau eh la,go for the how sii eh the sons.
07/05/2014 11:43
AhMoi People
here simply hantam with 2nd hand information to come up with a value of
5.00 to 10.50 but actually FV is just close to 2.00. Wrong!! Big
wrong!!
People here also have gone on and on and on on the supposedly big land banks that this company has, and they are for development of this and that with GDV of billions and billions...
Hello, people your information correct or wrong??!!
Wrong?!! Big wrong again??!!
Cos now this company is proposing to get into a related party transaction to buy lands, instead of focusing to develop the supposedly big land banks that this company has, and they are for development of this and that with GDV of billions and billions... how come??
This related party transaction to buy lands is using cash some more, later where got cash to develop the supposedly big land banks that this company has, that are for development of this and that with GDV of billions and billions... where to find cash later??
People please please please can you double check you information!!!
People here also have gone on and on and on on the supposedly big land banks that this company has, and they are for development of this and that with GDV of billions and billions...
Hello, people your information correct or wrong??!!
Wrong?!! Big wrong again??!!
Cos now this company is proposing to get into a related party transaction to buy lands, instead of focusing to develop the supposedly big land banks that this company has, and they are for development of this and that with GDV of billions and billions... how come??
This related party transaction to buy lands is using cash some more, later where got cash to develop the supposedly big land banks that this company has, that are for development of this and that with GDV of billions and billions... where to find cash later??
People please please please can you double check you information!!!
15/05/2014 10:14
alphajack Pasang
got potential in certain areas only. Most areas in Pasang are actually
getting worse and decreasing in value from the influx of poor Indians
from the city coming here, kampong Malays and vermin Sabahans and
Sarawakians. Only Chinese majority areas can thrive as the saying goes
'live with a nigger and soon your city will be like Detroit'
15/05/2014 10:25
Max Lee Just
read through A&M latest Annual Report which was publish yesterday
on Bursa website. Found out this interesting facts that A&M had do
the revaluation of the Pulau Carey land :
1)Location: PT 3532,3539,3540, 3556, 675 HS(D) 80452,80459,80460,80357, 28046 Mukim Jugra District of Kuala Langat Selangor Darul Ehsan
Land Ares (Built-up Acres): 1387.99
Net Book Value: RM 3,129,198,000
2) Location: PT 673-674, 676-677, 730-736, 3533, 3535, 3537 HS(D) 28044, 80457, 28047 26048, 34187-34193, 80454-80455, 28045 Mukim Jugra District of Kuala Langat Selangor Darul Ehsan
Land Ares (Built-up Acres): 535.55
Net Book Value: RM 1,234,239,000
Add up both of this valuation of the land is RM 4,363,437,000 (RM 4.36 billion)
Number A&M issued shares : 365,063,800 shares
Just based on this land alone, A&M is worth : RM11.95 per share.
Anyone can comment on this finding, looks like A&M have revalue the land and its new NTA should worth at least RM12 per shares!
1)Location: PT 3532,3539,3540, 3556, 675 HS(D) 80452,80459,80460,80357, 28046 Mukim Jugra District of Kuala Langat Selangor Darul Ehsan
Land Ares (Built-up Acres): 1387.99
Net Book Value: RM 3,129,198,000
2) Location: PT 673-674, 676-677, 730-736, 3533, 3535, 3537 HS(D) 28044, 80457, 28047 26048, 34187-34193, 80454-80455, 28045 Mukim Jugra District of Kuala Langat Selangor Darul Ehsan
Land Ares (Built-up Acres): 535.55
Net Book Value: RM 1,234,239,000
Add up both of this valuation of the land is RM 4,363,437,000 (RM 4.36 billion)
Number A&M issued shares : 365,063,800 shares
Just based on this land alone, A&M is worth : RM11.95 per share.
Anyone can comment on this finding, looks like A&M have revalue the land and its new NTA should worth at least RM12 per shares!
05/06/2014 15:39
Max Lee Not sure, but it was clearly stated in their latest Annual Report 2013 :
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1646757
Page 109...
The valuation is inline with the earlier article that say the land now worth RM 50 psf..
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1646757
Page 109...
The valuation is inline with the earlier article that say the land now worth RM 50 psf..
05/06/2014 15:42
subramaniam Agri land rm50psf is unbelievable. Not all face mainroad. I think rm10psf is more realistic.
05/06/2014 15:57
Max Lee http://www.thestar.com.my/Business/Business-News/2013/06/15/Big-plans-brewing-at-Carey-Island-AM-Realty-drawing-up-RM10bil-development-project/
05/06/2014 15:59
Max Lee A&M
just develop the Amverton Golf Course in Pulau Carey to boost up the
value of the land. And the direct access of the SKVE road in few months
time, the value seems to be justifiable...
05/06/2014 16:00
subramaniam I hope so. But then with such economic situation bad time for development
05/06/2014 16:07
ShareNovice in
annual report pg 109, land shown revalued as what max lee says but not
revaluation not shown in balance sheet. wonder why? any one know?
21/06/2014 17:15
Max Lee Anyone can give some comments on this? Why the land revalue at their assets list, but it does not shown in balance sheet??
23/06/2014 10:16
johnny cash A & M Realty (AM MK)-----------------------DATED 24//6//14
Technical BUY with +17.5% potential return
Last price : RM1.37
Target Price : RM1.49, RM1.61
Support : RM1.30
Stop-loss: RM1.28
BUY with a target price of RM1.61 with stop
loss at below RM1.28. AM’s share price
retraced from the high of RM1.49 before
establishing strong support at RM1.30. As the
share price recovered gradually, it closed
above both the 10-day and 21-day SMA lines,
suggesting the continuation of the previous
uptrend. Given yesterday’s gap-up on the back
of a slightly higher trading volume of 0.6m
shares (vs 20-day average of 0.2m), we expect
a positive follow-through thereafter. An
improving momentum, along with an uptick in
+DI as the ADX line rises steadily, suggests
the trend is potentially getting stronger and as
such should push AM higher. We peg our
medium-term target at RM1.61, which is
equivalent to the 1.61x Fibonacci extension
level.
Technical BUY with +17.5% potential return
Last price : RM1.37
Target Price : RM1.49, RM1.61
Support : RM1.30
Stop-loss: RM1.28
BUY with a target price of RM1.61 with stop
loss at below RM1.28. AM’s share price
retraced from the high of RM1.49 before
establishing strong support at RM1.30. As the
share price recovered gradually, it closed
above both the 10-day and 21-day SMA lines,
suggesting the continuation of the previous
uptrend. Given yesterday’s gap-up on the back
of a slightly higher trading volume of 0.6m
shares (vs 20-day average of 0.2m), we expect
a positive follow-through thereafter. An
improving momentum, along with an uptick in
+DI as the ADX line rises steadily, suggests
the trend is potentially getting stronger and as
such should push AM higher. We peg our
medium-term target at RM1.61, which is
equivalent to the 1.61x Fibonacci extension
level.
26/06/2014 07:37
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