Mahsing Latest Quarter has been exciting one, they have managed to sustain the excellent earning result.
With 3Q 2007, the eps stood at 0.10 eps, assuming Q4 with 0.4 sen ( which is better than previous 3 Q), we have around 0.14eps, with current price RM1.90, the PE stood at 13.57,to me the price is fairly value, unless there are some kind of good news like Middle East investor is eyeing on Mahsing stakes. The best price we can is on August 17 where we can buy Mahsing at RM1.60.
The most special parts of Mahsing is they did not adopt buy land and hold and develop in future. They just bought the land they interested and develop it. This kind of strategy cause you wont find any value on "Land held for properties development" which you can often see on other companies annual report.
This strategy prove to be success one and surely they wont mind to buy land at higher price as the brand "Mahsing" would make the property they sold worth higher value.
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