【A&M 交流专区】 Ｓ＆Ｐ１０月2９日再加码Ａ＆Ｍ ＲＥＡＬＴＹ

zoom9999

大股东继续大量买进股票

Name	:	DATO' NG BOON THONG @ NG THIAN HOCK
Address	:	NO. 27, JALAN PERMATA 7/1, SECTION 7, 40000 SHAH ALAM, SELANGOR DARUL EHSAN
Descriptions(Class & nominal value)	:	ORDINARY SHARES OF RM1.00 EACH

Details of changes

Type of transaction	Date of change	No of securities	Price Transacted (RM)
Acquired	26/09/2007	1,354,300
Acquired	27/09/2007	1,884,900
Acquired	01/10/2007	2,521,300

[ 本帖最后由 Mr.Business 于 5-12-2007 02:06 PM 编辑 ]

zoom9999

Ａ＆Ｍ　９２；　ＷＡ转换价０。。５０；零巴仙ＰＲＥＭＩＵＭ？还有３年到期；
超值了；


A & M Realty
Recommendation: STRONG BUY
Stock Code: 5959 Bloomberg: AM MK Price: MYR0.78 12-Month Target Price: MYR0.93 Date: September 12, 2007
Price (MYR)
0.30
0.40
0.50
0.60
0.70
0.80
0.90
Pr ice 30 Day Moving Aver age Board: Main
Sector: Property
GICS: Financials/Real Estate Management & Development
Market Value - Total: MYR282.5 mln
Summary: Listed on the Main Board of Bursa Malaysia in
1995, A&M Realty is primarily a property developer but with
interests in property investment, hotel, food, distribution of
automotive parts and oil palm plantations.
Analyst: Ching Wah Tam
Vol ('000)
0
2,000
4,000
6,000
8,000
Sep 04 Nov 04 Jan 05 Mar 05 Jun 05 Aug 05 Oct 05 Dec 05 Mar 06 May 06 Jul 06 Sep 06 Nov 06 Feb 07 Apr 07 Jun 07 Aug 07
Volume
Recent Developments
• As anticipated, the Malaysian government proposed further incentives
for the property sector during its recent 2008 Budget. This follows the
abolition of real property gains taxes and liberalization of foreign
ownership of local residential properties in April 2007.
• Among the major goodies proposed in the 2008 Budget are the
following: (i) a 50% cut in stamp duty on the transfer of documents for
houses costing less than MYR250,000; and (ii) effective January 1,
2008, Employees Provident Fund (EPF) contributors will be allowed to
make monthly withdrawals from Account 2 for the financing of one
house.
• Shortly after the Budget, Second Finance Minister Tan Sri Nor
Mohamed Yakcop clarified that EPF monthly withdrawals for reducing
housing loans will be credited into the contributor’s personal bank
account and not the lending bank. We estimate that EPF contributors’
mortgage servicing capacity could increase by 21% as the monthly
EPF withdrawal is equivalent to 6.9% of total gross income. The
Government indicated in the Budget that the new scheme will make
available up to MYR9.6 bln annually for the purchase of houses.
• As a result, the new scheme could potentially have a significant impact
on developers like A&M Realty. A&M is planning to expand into two
high-margin residential projects: (i) a 3.03-acre condominium project
(Gross Development Value (GDV): MYR300 mln) in Mont Kiara; and
(ii) a 39.5-acre bungalows and semi-detached project (GDV:
MYR271.9 mln) near Kota Kemuning.
Recommendation & Investment Risks
• We maintain our Strong Buy recommendation and our 12-month target
price of MYR0.93. Our target price is based on a 20% discount
(unchanged) on our estimated RNAV (unchanged) of MYR1.81, and
includes the projected net dividend. Our assigned target multiple of
0.8x P/RNAV are within the valuation metrics of 0.5x-1.0x P/RNAV for
small and mid-cap property stocks within our coverage.
• In our opinion, A&M Realty’s main attraction is its undervalued assets,
especially its 3,239-acre land bank in Pulau Carey, near Klang, whose
book value is a mere 2.4 sen psf. If we were to revalue the land bank
at MYR1.20 psf, that alone will add MYR0.47 per share to its NTA.
• Risks to our recommendation and target price include: (i) an
unexpected delay in the construction progress of its projects; (ii) a
higher-than-expected rise in interest rates which could cause a
decrease in demand for properties; and (iii) an unexpected rise in
building materials and labor costs, which will squeeze its operating
margin.
Earnings Outlook
• We maintain our FY07 and FY08 earnings forecasts.
Key Stock Statistics
FY Dec. 2006 2007E
Reported EPS (sen) 5.4 3.8
PER (x) 14.3 20.6
Dividend/Share (sen) 0.8 0.8
NTA/Share (MYR) 1.08 1.12
Book Value/Share (MYR) 1.14 1.17
No. of Outstanding Shares (mln)
52-week Share Price Range (MYR)
Major Shareholders:
Dato' Ir Ng Boon Thong @ Ng Thian Hock
Silver Glass Continental 5.0
362.2
0.33 - 0.88
%
43.2
Per Share Data
FY Dec. 2004 2005 2006 2007E
Book Value (MYR) 1.28 1.03 1.14 1.17
Cash Flow (sen) 4.1 3.4 7.4 5.7
Reported Earnings (sen) 2.0 2.4 5.4 3.8
Dividend (sen) 0.0 0.6 0.8 0.8
Payout Ratio (%) 0.0 5.3 2.7 4.0
PER (x) 39.7 33.1 14.3 20.6
P/Cash Flow (x) 19.0 23.2 10.5 13.6
P/Book Value (x) 0.6 0.8 0.7 0.7
Dividend Yield (%) 0.0 0.8 1.0 1.0
ROE (%) 0.9 2.0 5.0 3.3
Net Gearing (%) 0.0 0.0 0.0 0.0

[ 本帖最后由 zoom9999 于 26-9-2007 09:56 AM 编辑 ]

zoom9999

VOLUME没来;价格在底线;最佳买进

abc0123

A&W A&W-WA 两个都可以?

投机吗?

elvingan

原帖由 zoom9999 于 19-9-2007 08:43 AM 发表
VOLUME没来;价格在底线;最佳买进

你手上有多少股???
为何一直推...

大大,你还没回答我, TAKE PRIVATE的消息哪里来的???谢谢...

[ 本帖最后由 elvingan 于 26-9-2007 12:08 PM 编辑 ]

YTLE

这个是一流的超值股， 不用心大心小 ， 等着赚钱就是了。

abc0123

你有消息?

是不是有任何文路?

发财乘年少

没VOLUME， 咸咸咸

cocoloco

小心股东赚够了，很快就会下跌 0.60-0.70

elvingan

我知道是好股,但没交易量,
淡市时要卖就没好价了!!!

zoom9999

原帖由 elvingan 于 19-9-2007 09:21 AM 发表


你手上有多少股???
为何一直推...

u tunggu i sell then u know berapa share i ada. Kasi u mata big big

zoom9999

那么多的产业股；为何Ｓ＆Ｐ只推荐Ａ＆Ｍ呢？仔细想想就ＫＮＯＷ咯！

zoom9999

如果你仔细分析之前Ｓ＆Ｐ推荐的股项；全部起得ＰＩＮＧ　ＬＩＮＧ　ＢＡＮＧ　
ＬＡＮＧ；开几翻的都很多；买进耐心的等吧

好，我相信你......

Buy 10 lot.....:@

zoom9999

开始累积Ａ＆Ｍ　ＷＡ。　Ｓ＆Ｐ推荐股项在短期内开翻；买进好时机

zoom9999

Ａ＆Ｍ来咯

[ 本帖最后由 zoom9999 于 24-9-2007 09:21 AM 编辑 ]

prestigio

原帖由 zoom9999 于 21-9-2007 11:38 AM 发表
Ａ＆Ｍ来咯

终于看到volume来了。。。好期待

zoom9999

Ａ＆Ｍ将会追随ＧＰＬＵＳ涨停板？

zoom9999

Ａ＆Ｍ每股资产ＲＭ１。８０＋；ＰＥ１０以下；严重被低估；低风险高回报；分分
钟开翻

koay7899

Ａ＆Ｍ来咯 0.83