Monday, November 3, 2014

KEN ... One Of Highest Margins Among Devepers !!!

It is highly profitable developer that has carved out a reputation for building environmentally friendly green properties which are affordable priced in well located areas.

It is also one of the highest margins among developers, with pre tax margins of above 36% for the last five years.

In 2000, it had ventured into property development with the Ken Damansara project.

Its major ongoing project is the rm1.03 billion Ken Rimba township in Shah Alam, where the company is currently (Oct 2014) completing double storey terrace houses, and is launching condo.

For its future, it is planning a mixed development in JB with estimated GDV of rm1.22 billion. The projects sits on a 22.8 acre plot of land acquired in 2012 for rm56.2 million.

The company also has 19.4 acres of land in Genting, 10 acres in Malacca city centre and 2.5 acres in Batu Ferringhi, Penang.

It expects recurring income of rm15 million per year starting 2015 from the rm120 million Ken TTDI.

It is debt free. It has net cash of rm6.1 million as at end June 2014.

It is currently trading at a PER of 7.7 times and price to book of 0.97 times.

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Please note that all data given are merely blogger's opinion. It is strongly recommended that you do your own analysis and research before investing.