SBCCORP - Under Value property Share

opteron82 — Mon, 22 Oct 2012 01:24:40 +0800

For the last 4 years, Sbccorp has achieved high growth on profit. However, due to low profile, it seldom enhance its image in front of media, there is also a shortage of investment research report coverage that other companies seem to get.
Therefore the share price hasn’t shown as impressive rise as its excellent earnings growth.

SBCCorp has 4 major advantages over its competitors:
1) Start up projects have increased tremendously, and major profit will follow shortly after
2) Have a large stock land of previously purchased prime location land in KL and Sabah, most of the lands have increased substantially in price and have not been revalue.
3) With the RM3.28 NTA, the share price is seriously undervalued.
4) There is a relatively small amount of share in issued 82,435,000, so the EPS could easily increase significantly in the future.

For the financial year 2012, the revenue is RM152mil, with a profit of RM23.8mil; the profit margin is about 15%.
If the revenue can achieve RM300mil, SBCCorp’s earnings should increase significantly. This shouldn’t be difficult for SBCCorp.

1) Future Development Projects
A) Kiara East
A 20-acre integrated development of villas, condo-styled suites, lofts and f&b retail, all connected via Walking.
Planned as a multi-generational scheme, suitable for both the young and old, with plenty of open spaces to meet, such as the park, lake and our own town square Marcadia.

Truly an escape from traffic congestion and high costs, Kiara East is just 5 toll-free minutes from Mont Kiara, international schools, commerce hubs and f&b joints.

It is also connected with a train station and via Jalan Kuching to the DUKE, NKVE and MRR2 expressways.

http://kiaraeast.blogspot.com/
Youtube Video： http://www.youtube.com/watch?feature=playe...d&v=BFnwwnzsfP8

[YOUTUBE]VnOT4s1BgnE[/YOUTUBE]

Kiara East has 5 projects:
i) Designer Suites （GDV RM300mil）（2012-2015）already launched, good sales
ii) SKY LOFTS (GDV RM200 mil)
iii) SOHOS (GDV RM200 mil)
iv) VILLAGE SQUARE (GDV RM200 mil)
v) VILLAS (GDV RM600mil)

There is no official announcement of GDV, therefore I have done some GDV estimation on my own. The total GDV is estimated at RM1.5bil.
This project will be completed in 5 years (2012-2017).

If this project can achieve 10% profit margin, there will be RM150mil profit with the revenue of RM1.5bil.
This is equals to average earning of RM30mil per year, 40sen EPS.

The next 5 years should have good profit.
The land designated for Kiara East project was acquired in year 2000. At the time land price was relatively cheaper, therefore the cost of land is low, and Kiara East should be able to bring in a very handsome profit for SBCCorp.

The highest few floors of the Designer Suites have not been launched. Sales have been good for those already launched.

B) Sabah Peak Soho （GDV estimated at RM150mil）（2012-2014）

From the information on official website, The Peak Soho has been fully booked.
**********************************************
http://www.signalhill.com.my/html/sub_proj...spx?ID=3&PID=34
The units were opened for registration and were fully booked. The guests previewed our modern designed show unit with great pleasure. Guests gave their nods and thumbs’ up to The Peak Soho as it was something fresh, different and exciting in Kota Kinabalu.
***************************************************
[YOUTUBE]9EeHA1Ho15Y[/YOUTUBE]

C) Cantonement exchange （GDV estimated RM100mil）（2012-2014）

CX is the greatest opportunity to participate in the new development focus of the Batu Cantonment area. With the train only one stop to Sentul and four stops to KL Sentral, CX is strategically located at Jalan Ipoh. Limited to 33 modern shop offices with lifts and plenty of car parks in a secure basement.

SBCCORP - Under Value property Share

opteron82 — Sun, 23 Sep 2012 23:33:28 +0800

谢氏兄弟机构（SBCCorp, 5207主板产业股）是一家过去4年盈利高成长公司，但作风低调，很少在媒体介绍公司状况。也没有投资机构做研究报告。所以即使盈利高成长，股价也没跟着高成长。
SBCCorp有4个吸引人的地方。
1） Project 开始大量发展，很快就看到盈利。
2）有大量地在KL和Sabah。大多数都是以前买的，地点都很好，还没有资产重估。
3） NTA RM3.28，股价严重被低估。
4）股本只有8千2百万股，所以EPS很容易就可以上到很高。
2012年财报revenue RM152 mil. Profit RM23.8mil.大概15% profit margin。
如果revenue上到 RM300mil. SBCCORP盈利将大幅度提升。
对SBCCORP 来说，RM300mil revenue 不是一件难事。

1）未来发展计划
A) Kiara East

[addedon]September 23, 2012, 11:35 pm[/addedon]

A 20-acre integrated development of villas, condo-styled suites, lofts and f&b retail, all connected via Walking.

Planned as a multi-generational scheme, suitable for both the young and old, with plenty of open spaces to meet, such as the park, lake and our own town square Marcadia.

Truly an escape from traffic congestion and high costs, Kiara East is just 5 toll-free minutes from Mont Kiara, international schools, commerce hubs and f&b joints.

It is also connected with a train station and via Jalan Kuching to the DUKE, NKVE and MRR2 expressways.

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SBCCORP - Under Value property Share

SBCCORP - Under Value property Share