End of month November is definitely busiest month since the quarter report of companies have come out.
I have gone through the Pjdev Quarter report and here is some of the analysis:
Net profit 14.63 milllions compare to 2007 Q1 6.44 millions is definetely a improvement. But compare to previous quarter , 16.48millions, is still consider ok without much drop. Property development cost has gone up to 260 millions compare to previous quarter 208 millions will be a good sign as i assume they are having more projects going on. ( Not cost incremental please).
However, for long term debt has gone from 93.8 millions to 341.30 millions which is the setback as this means company is taking more loans for more aggresive expansion. As this company has not really much cash (only 42.47 millions) , so this means the finance cost will be going up in future and affecting the net profit.
For current account payable has been going down to 16.65 millions from 166.98millions previous quarter as they have been shifting to the long term payment.
With dividend 5 sen less tax going to be paid on January, translating to the 4.2% of net dividend yield, this counter seems like a very "good deal" to me. However, i still prefer with price below 0.8 as this counter did not serve as a defensive counter during volatile market.
Eyes on property : Pjdev, Plenitude, Mahsing
Property stock been analysis: Pjdev, Keladi, Plenitude
Next one: Mahsing, Sunway, Hunza Property, Metrok.
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