I always like Insider Asia analyst, so saw this good one and decided to pen down in my blog. Now I know they have 51% stake in Help College.
SelProp’s earnings can be volatile due to periodic asset sales, exceptional items and uncertain investment returns. However, its shares are backed by strong assets and offer good dividends of about 10 sen per year. At RM3.08, the stock is trading at a 37% discount to its latest NTA of RM4.86 and well below our estimated RNAV of RM6.08.
The company has sizeable and valuable property assets, and a very strong balance sheet. It has 13.2ha of undeveloped land in Damansara Heights plus several well-located commercial and residential buildings in the prestigious area.
It also has 108ha of land in Ulu Langat, Batu Caves and Selayang, a shopping mall in Perth, Australia, a portfolio of investment securities and a 51% stake in listed HELP International Corp, one of Malaysia’s top private education players.
Note: This report is brought to you by Asia Analytica Sdn Bhd, a licensed investment adviser. Please exercise your own judgment or seek professional advice for your specific investment needs. We are not responsible for your investment decisions. Our shareholders, directors and employees may have positions in any of the stocks mentioned.
This article appeared in The Edge Financial Daily, July 31, 2009.
This article appeared in The Edge Financial Daily, July 31, 2009.