Friday, July 12, 2013

Maybank Research says Hua Yang is “hot”

Maybank Research says Hua Yang is “hot”

KUALA LUMPUR: Maybank Research is picking Hua Yang Berhad, a housing developer specialising in homes costing under RM500,000, as its “hot stock” pick with a target price of RM3.73 from its current trading price of around RM3.03.

It said on top of sound management and solid recent performance, Hua Yang was unlikely to be affected by the credit-tightening measures introduced by Bank Negara as it was in the affordable property segment.

In fact, it stood to benefit from Budget 2013 due to improvements expected to be made to the My First Home Scheme.


Citing the Population and Housing Census Malaysia 2010 report, the research house pointed out that 25% of Malaysians purchasing property are first-time home buyers within the 25-40 age range. Hua Yang properties, particularly in Johor and Perak, are priced between RM100-400k a unit and 70% of its customers are first-time home buyers, and as such it was in a growth good position.

To date, Hua Yang has completed more than 13,000 residential, commercial and industrial projects with a gross development value (GDV) of more than RM1.8bil. It is primarily focused in three main regions – Selangor, Johor and Perak, with projects such as One South in Selangor, Taman Pulai Indah/Hijauan in Johor and Bandar Universiti Seri Iskandar (BUSK) in Perak.

“Consensus estimates HYB to make a net profit of RM89.7mil in financial year ended March 2014, translating to a five-year earnings compound annual growth rate (CAGR) of 59%.  The stock is trading at a prospective CY14 PER of 5.6x, lower than its small/mid-cap peers’ average of 6.5x despite a superior return on equity (ROE) of 23%.

“It paid a dividend per share of 12 sen in the financial year ended March 2013 (33% net profit payout) and is expected to pay 14 sen dividend per share in the financial year ended March 2014, which translates to a net yield of 4.6%.

HYB has unbilled sales of MYR523m as at Mar 31, 2013 and plans to launch RM1bil worth of new projects in the financial year end March 2014, including six new projects in the Klang Valley, Johor and Perak. The group has 1,505 acres of landbank, of which 700 acres are undeveloped.

It has a remaining GDV of RM4.05bil which should last the group another 10 years. Recent land acquisitions in Desa Pandan, Puchong, Seri Kembangan and Shah Alam will boost its GDV in the Klang Valley to 50%, with another 30% from Johor and 20% from Perak.


Source/Extract/Excerpts/来源/转贴/摘录: thestar.com.my
Publish date: 12/07/13

No comments:

Post a Comment

Warren E. Buffett(沃伦•巴菲特)
Be fearful when others are greedy, and be greedy when others are fearful
别人贪婪时我恐惧, 别人恐惧时我贪婪
投资只需学好两门课: 一,是如何给企业估值,二,是如何看待股市波动
吉姆·罗杰斯(Jim Rogers)
“错过时机”胜于“搞错对象”:不会全军覆没!”
做自己熟悉的事,等到发现大好机会才投钱下去

乔治·索罗斯(George Soros)

“犯错误并没有什么好羞耻的,只有知错不改才是耻辱。”

如果操作过量,即使对市场判断正确,仍会一败涂地。

李驰(中国巴菲特)
高估期间, 卖对, 不卖也对, 买是错的。
低估期间, 买对, 不买也是对, 卖是错的。

Tan Teng Boo


There’s no such thing as defensive stocks.Every stock can be defensive depending on what price you pay for it and what value you get,
冷眼(冯时能)投资概念
“买股票就是买公司的股份,买股份就是与陌生人合股做生意”。
合股做生意,则公司股份的业绩高于一切,而股票的价值决定于盈利。
价值是本,价格是末,故公司比股市重要百倍。
曹仁超-香港股神/港股明灯
1.有智慧,不如趁势
2.止损不止盈
成功者所以成功,是因为不怕失败!失败者所以失败,是失败后不再尝试!
曾淵滄-散户明灯
每逢灾难就是机会,而是在灾难发生时贱价买股票,然后放在一边,耐性地等灾难结束
  • Selected Indexes 52 week range

  • Margin of Safety

    Investment Clock

    World's First Interactive Investment Clock