Thursday, December 4, 2014

About Matrix (Falling Net Cash)

It has a policy of rewarding shareholders well. It paid dividends of 30.4 sen per share in 2013 or a yield of 13.8% against its IPO price of rm2.20. In July 2014 a bonus of 1 for 2 bonus was declared.

It is famed for its flagship 5233 acre Bandar Sri Senyan township in Seremaban. As end Sept 2014 it has remaining landbank of 1289 acres at BSS including STV with potential GDV of rm5.1 billion. STV, an established industrial park within BSS, has attracted rm3 billion worth of investments from MMCs.

Its other projects in Seremban have estimated GDV of rm1.2 billion on 343.6 acres of land. Down south, it is developing the 637.6 acre Taman Seri Impian in Kluang. It has 294.5 acres left to be developed with GDV of rm957 million. In 2013, it acquired 1.1 acres of land near Putra World Trade Centre in KL and aims to launch apartments with GDV of rm400 million in 3QFY2015.

All in Marix, remaining land bank has potential DGV of rm6.5 billion to last until 2022. As at end Sept 2013, unbilled sales totaled rm410.5 million.

Its net cash fell from rm192 million at end 3QFY2013 to rm0.1 million in 3QFy2014, due to property development cost of rm556 million and its dividend payout.

It is trading at a trailing 12 month PER of 7.8 times and 2 times book value.

It has set a minimum 40% dividend policy payout policy. However its ability to continue to pay high dividends will depend on future profits and cashflows, since its cash position has fallen sharply.

No comments:

Blog Archive


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.