Friday, July 4, 2014

Titijaya ... Low PER and Its Mall Is Worth >> Its Market Cap

It is experienced in sourcing value accretive land deals in mature residential neighbors.

It is currently (03 July 2014) trading at FY2015F PE of 9x when compared with its larger peers of 15x.

It is developing a mall in Shah Alam which will underpin the take up rate of its residential pre sales. Based on its estimated selling price of rm1000 psf, the mall is worth about rm1.3 billion which is more than its current (01 July 2014) market cap of rm847 million.

Its two land deals in Brickfields and Batu Maur since its listing in Nov 2013 would double its GDV to rm7 billion. The two projects are expected to be launched in FY2016.

Its net gearing stood at 0.1 times giving ample room for any acquisition of landbanks or projects.

It could be looking to pay out 20% of its profits as dividends.

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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.