2014年12月28日星期日

UPDATE-You can make 180% from this GEM!!!


Author: ong88888   |   Publish date: Mon, 22 Dec 18:57

GDV is RM 850mn for next two years. industrial properties are high growth segment!                                                                                This stock has target price of RM7 Vs current price RM2.50! buy before too late.                                                                                        On Oct 13, I bought 6,000 shares of Crescendo Corporation Bhd at RM2.84 per share, following this stock being picked by Insider Asia in www.theedgemarkets.com and The Edge Financial Daily (FD) in the morning.
 
Crescendo is a Johor developer with a landbank of 2,921 acres,  of which 54.8% is within the Iskandar Malaysia (IM) region. More critically, 65.7% of its gross development value is industrial properties. This remains a high growth area into the future, catering to both the needs of Singapore SMEs and the growing economic activities of IM itself. Singaporeans bought 56% of the Nusa Cemerlang Industrial Park development by Crescendo.
 
Its other developments are mostly the bread and butter type of mixed landed residential and commercial. Unbilled sales stand at RM128 million with RM800 million worth of launches for the next two years, for a company with a market capitalisation of RM637 million.
 
The stock is trading at a trailing 12-month P/E ratio of only 4.3 times and a yield of 5.8%. Net gearing is 9.2%.
 
Price to book is 0.8 times. Based on Edge Research revaluation, it is trading at about 60% discount to asset value, as most of its landbank was acquired between 1996 and 2006. Two of its largest tracts of land are in Bandar Cemerlang (1,390 acres) and Kota Tinggi (794.4 acres), carried at RM3.08 psf and RM1.12 psf respectively.
 
Given its low P/E valuations, low gearing, high dividend yield, large discounts to asset value and good growth prospects while operating in a sector of minimum risks, Edge Research (see www.theedgemarkets.com) assigns Crescendo a fundamental score of 2.3 out of 3.0 and a valuation score of 3.0 out of 3.0. It has a rising ROE of above 20% for a company with very small net debt. Beat that.  - tong's value portfolio.

没有评论:

发表评论