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[公司专区] 5200 UOADEV UOA发展

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发表于 2011-9-5 09:08 | 显示全部楼层
heard that budget 2012 will focus on housing development below 300K, seem the developer that develop such price range of houses will get benefit from that budget... UOA seems more focus on high rises housing development..... >300K....

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发表于 2011-9-7 20:30 | 显示全部楼层
UOA Devt subsidiary awards RM101m job      
  
KUALA LUMPUR: UOA Development Bhd’s subsidiary Ceylon Hills Sdn Bhd has awarded a RM101.36 million CONSTRUCTION [] job for a 27-storey hotel suites project off Bukit Ceylon in Kuala Lumpur to its unit Allied Engineering Construction Sdn Bhd (AEC).

UOA Development said on Wednesday, Sept 7 the project was for the construction of the main building and infrastructure of the One Bukit Ceylon Hotel Suites.

AEC will be appointed the main contractor for the construction which includes the construction and completion of piling, buildings and associated accessories works. The construction period is for 27 months.

Ceylon Hills is partly held by Transmetro Sdn Bhd, a related party. Transmetro, which is involved in property investment and consultancy services, is a major shareholder of UOA Development.

Both UOA Development and Transmetro hold 54.0% and 36.0% equity interest in Ceylon Hills, respectively.

http://www.theedgemalaysia.com/b ... rds-rm101m-job.html

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发表于 2011-9-8 22:25 | 显示全部楼层
本帖最后由 ahko80 于 2011-9-8 22:39 编辑

UOA發展獲1億工程合約

(吉隆坡7日訊)UOA發展(UOADEV, 5200, 主板產業組)宣佈旗下獨資ALLIED工程建築私人有限公司,獲另一家54%持股子公司Ceylon Hills私人有限公司頒發價值1億零136萬1千令吉的工作合約,負責27層樓高酒店的主要建築和基建工程。

該公司發文告指出,ALLIED工程建築同時被委任成上述酒店發展計劃的主要承包商,包辦所有相關器具、原料和人力的供應工作,施工限期為27個月。(星洲日報/財經)

http://biz.sinchew-i.com/node/51481

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发表于 2011-9-19 17:52 | 显示全部楼层
UOA发展 长线可期
财经周刊 投资观点  2011-09-19 14:35


UOA发展孟沙南区办公室单位赚幅贡献低,办公大楼单位销售将比想象中慢。






鉴于全球股票市场走势疲惫、外围经济前景不明朗,以及产业发展领域条规或收紧。
券商估计UOA发展(UOADev,5200,主板产业股)短期内的股价将继续受牵动,并徘徊在较低价位水平。
资料显示,UOA发展股价从今年8月1日,全球股市陷入危机开始至今,已下挫了32.4%,或按月跌14.6%。

不过,UOA发展并不是唯一受到冲击的产业股,事实上,自8月1日开始,产业股平均都下滑了17%至24%,或按月跌12%至20%。
艾芬投资研究分析员针对UOA发展业绩作预测,认为股价在短期内将持续波动,但长线来看趋升。

“我们预计2012财年本益比为8.3倍,价格对净有形资产为1.1倍,以及股息率为4.7%。”
分析员稍早前曾依据2012年14倍的本益比,估计2011年富时隆综合指数将滑至1530点水平,但第3轮量化宽松行动或能扭转乾坤。
不过,鉴于认为美国经济将不出现复发性衰退,加上预料欧洲债务问题可获解决,分析员依据2013年盈利的15倍本益比计算,估计2012年富时隆综合指数将会保持在1700点水平。

“我们必须承认,这项估计的可靠性并不是最高的。”
这是因为经济环境变化可能太多,欧洲债务问题或拖累区域银行资金的流动性。
券商就此认为,一切得在9月20日举行的联邦公开市场委员会(FOMC)会议后,才可看见比较确定的状况。
上述全球经济状况,也说明了备受牵引的富时隆综合指数前景也不明朗,这也间接影响到产业股如UOA发展的趋势。

销售放缓财测下调
另外,虽然UOA发展大城堡计划即将做出盈利贡献,但旗下孟沙南区办公室单位赚幅贡献低,让分析员有理由相信,同区其余3座的办公大楼单位的销售速度将比想象中慢。
加上其它高档公寓计划单位销售速度放缓,决定调整UOA发展的盈利预测。
“我们就此调整UOA发展2012和2013财年盈利预测,分别至滑10%和增1%。”
无论如何,这并不表示公司的潜在价值下滑,以长远来说,分析员认为UOA发展有利可图的。
“我们相信公司股价在调整后,其价值将会随之飙升。”
而且,Setapak Green和大城堡6亿8400万令吉入账收入,将支撑中期收入和4%的股息率。

转向中档产业发展
在产业发展业务的循环定律,以及市场状况和需求对UOA发展盈利影响(UOA发展专注在中高档住宅和商用产业市场)的因素下,分析员认为,公司股价被迫回调至与城镇项目发展商,以及大马富时隆综合指数相等的水平。
“我们在保持不会出现经济衰退的前提下,认为UOA发展股价将在市场恢复正常水平,以及负面因素消除后谷底回弹。”
UOA发展向来以发展高档和商业产业著称,但券商注意到,公司开始进军中档产业发展领域。

公司目前和未来即将推出的中档产业包括了:
1. 价值1亿9900万令吉的Setapak Green公寓(445个单位)。
2. 预计在年尾推出、位于大城堡价值4亿令吉的中档公寓(670个单位)。
3. 最近在怡保路购得7.3英亩土地,计划发展为住宅区。
根据资料,住宅发展计划为贡献公司2011年次季营业额的58.6%,上季度为25.1%。

条规收紧威胁发展
撇开全球经济和市场需求,券商认为国家政策对产业股是威胁。
“我们看见政府正考虑收紧产业条规和政策,以免产业市场过热。”
他分析,潜在采取冷却市场的政策包括从90%的第二房贷贷款价值比率,降低至70%。

中期走稳
此外,他也认为政府有可能重新征收产业盈利税(RPGT),或者以及净收入审核房贷申请。
“我们认为,政府或考虑拖延新标准的实施,直到外围经济的不稳定消除为止。”
分析员补充,在全球经济状况不明朗下,实行更强的标准会为产业市场造成长期性风险。
分析员认为,住宅产业市场中期走势仍维持正面,但认为短期的高档公寓和办公大楼将持续走弱。

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发表于 2011-9-23 20:45 | 显示全部楼层
Changes in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965
Reference No CC-110921-33054
Company Name
:
UOA DEVELOPMENT BHD
Stock Name
:
UOADEV
Date Announced
:
21/09/2011

Name
:
UOA HOLDINGS SDN BHD
Address
:
WISMA UOA BANGSAR SOUTH
TOWER 1, AVENUE 3
THE HORIZON, BANGSAR SOUTH
NO. 8 JALAN KERINCHI
59200 KUALA LUMPUR
NRIC/Passport No/Company No.
:
190246-V
Nationality/Country of incorporation
:
MALAYSIA
Descriptions
(Class & nominal value)
:
ORDINARY SHARES OF RM0.05 EACH
Name & address
of registered
holder
:
UOA HOLDINGS SDN BHD
WISMA UOA BANGSAR SOUTH
TOWER 1, AVENUE 3
THE HORIZON, BANGSAR SOUTH
NO. 8 JALAN KERINCHI
59200 KUALA LUMPUR

Details of changes
Currency
:
Malaysian Ringgit (MYR)

Type of transaction
Date of change
No of securities
Price Transacted ($$)
Acquired
14/09/2011
180,000

Acquired
19/09/2011
25,600

Acquired
20/09/2011
80,000






































Circumstances
by reason of which change has occurred
:
ACQUISITION OF SHARES IN OPEN MARKET
Nature of
interest
:
DIRECT
Direct (units)
:
801,676,300
Direct (%)
:
67.04
Indirect/deemed interest (units)
:
Indirect/deemed interest (%)
:
Total no of securities after change
:
801,676,300
Date of notice
:
21/09/2011

Remarks

© 2011, Bursa Malaysia Berhad. All Rights Reserved.

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发表于 2011-9-30 14:16 | 显示全部楼层
Type       
:
Announcement
Subject       
:
MEMORANDUM OF UNDERSTANDING

Description       
:
MEMORANDUM OF UNDERSTANDING ("MOU") BETWEEN UOA DEVELOPMENT BHD ("UOA") AND HOA BINH CONSTRUCTION AND REAL ESTATE CORPORATION ("HBC")
               


Attachments       
:
11-Sep30-UOA and Hoa Binh sign MoU-Press Release-FINAL-1.pdf

Announcement Details/Table Section :


THE BOARD OF DIRECTORS OF UOA WISHES TO ANNOUNCE THAT UOA HAD, ON 29 SEPTEMBER 2011, ENTERED INTO A MOU WITH HBC WHERE BOTH PARTIES DESIRE TO EXPLORE CONSTRUCTION COLLABORATION IN THE REGION, MAINLY IN MALAYSIA AND VIETNAM, SUBJECT TO BOTH PARTIES ENTERING INTO SPECIFIC AGREEMENT ON TERMS AND CONDITIONS TO BE MUTUALLY AGREED UPON. HBC IS A COMPANY PRINCIPALLY INVOLVED IN CONSTRUCTION SERVICES IN VIETNAM.

WE PROVIDE HEREWITH THE MEDIA RELEASE IN RELATION TO THE MOU.

THIS ANNOUNCEMENT IS DATED 30 SEPTEMBER 2011.

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发表于 2011-9-30 18:49 | 显示全部楼层
UOA inks MoU with Vietnam's Hoa Binh      
  
KUALA LUMPUR: UOA Development Bhd is to collaborate with Vietnam-based CONSTRUCTION [] firm Hoa Binh Construction and Real Estate Corporation to develop its proposed Sri Petaling residential project with a gross development value of RM400 million.

This follows the two parties signing a memorandum of understanding to collaborate and exchange construction knowledge and expertise in addition to explore construction projects in Malaysia, Vietnam and in the region.

In a statement Friday, Sept 30, UOA Development said the Sri Petaling project comprises of two blocks condominium of 670 units ranging from 1,200 sq ft per unit onwards, built on 4.86 acres of freehold land.

The project is scheduled to commence in the fourth quarter of 2011 and expected to be completed near the end of 2013, it said.

The company said the MoU was signed on Sept 29 by UOA managing director Kong Chong Soon and Hoa Binh chairman and CEO Le Viet Hai.

It said Hoa Binh, a construction company founded in 1987, had various projects including Capitaland in Singapore, Kajima in Japan, and Bouygues Construction in France.

http://www.theedgemalaysia.com/b ... ased-hoa-binh-.html

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发表于 2011-10-5 12:51 | 显示全部楼层
CIMB Research has technical buy on UOA Development               
Written by theedgemalaysia.com          
Wednesday, 05 October 2011 09:19


KUALA LUMPUR: CIMB Equities Research has a technical buy call on UOA Development at RM1.21 at which it is trading at a FY12 price-to-earnings of 4.8 times and price-to-book value of 0.9 times.

It said on Wednesday, Oct 5 that UOA Development is still trapped in a downtrend channel but a short term bottom could have been formed.

“Aggressive traders may start to nibble now but always keep stop tight at RM1.16,” it said.

CIMB Research said the bullish divergence on its MACD indicator suggests that selling pressure has tapered off. RSI too has bounced off its lows.

“In the immediate term, prices are likely to edge closer towards RM1.27 and RM1.38. The 30-day SMA at RM1.43 is also a magnet for prices,” it said.

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发表于 2011-10-5 14:29 | 显示全部楼层
UOA发展 住宅产业支撑盈利
行家论股  2011-10-03 17:29







目标价:2.07令吉

最新进展
UOA发展(UOADev,5200,主板产业股)与越南和平建筑与房地产公司,于9月30日签署解备忘录,共同发掘在大马和越南的建筑合作机会。
根据备忘录,两者将会合作,并且交换建筑知识与专业。

盘点分析
我们对此备忘保持乐观,UOA发展目前并没有打算要涉足越南产业市场,我们相信备忘录仅是加强该公司的建筑专业以及国际商业网络,短期内不会带来盈利贡献。
我们维持“买入”评级,目标价为2.07令吉(这是基于该公司重估净资产值2.59令吉20%折价)而得。在股价大下跌后(从新股发售价2.60令吉下跌53%),我们相信价值已出现。

我们也相信,尽管市场对高价公寓及Bangsar South办公室需求,在中短期内会回软,但该该公司其他的住宅产业,例如Setapak Green和大城堡项目,以及未进账的销售额6亿8400万令吉,可支撑中期盈利以及超过5.5%的周息率。
分析:艾

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发表于 2011-10-5 14:32 | 显示全部楼层
UOA發展與越資 聯營發展4億房產



(吉隆坡30日訊)UOA發展(UOADEV,5200,主板產業股)與越南Hoa Binh建設和房地產機構,聯營發展位於大城堡的670個單位公寓,預計發展總值(GDV)為約4億令吉。

該公司今日發出文告表示,該工程相信將在2011年末季動工,且預計可在2013年杪完成。

雙方是於昨日簽署諒解備忘錄,而在諒解備忘錄中,雙方將成立一個委員會,以探討其在大馬、越南和區域內施工能力的協同效應。

UOA發展指出,該公司對目前與Hoa Binh建設和房地產機構的建設合作甚具信心,並可輔助其現有的建築發展業務。

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发表于 2011-10-9 10:52 | 显示全部楼层
馬股來周或遇套利
林玉敏



首相拿督斯里納吉在週五(10月7日)公佈的2012年財政預算案,激勵馬股週五重探1400點水平,閉市報1400.05點。然而,大部分市場人士認為這項預算案對富時大馬綜合指數來周的影響不大,走勢仍會受外圍市場左右。

馬股從上週五的1387.13點,按周升12.92點或0.93%至1400.05點。成交量和成交值則分別跌15.39%和23.97%,至40億8278萬7000股和61億6624萬9000令吉。

大部分的市場人士認為,馬股在政府公佈預算案之後將出現套利,抵銷預算案前漲勢。其中,符之源稱,馬股來周初或陷入小幅度的跌勢,因為傳統而言,馬股在公佈財政預算後都會稍微走跌。

仍受歐美市場影響

同時,史益合表示,預算案料不會為馬股帶來太大的效應,因為大馬仍受到歐美市場影響。雖然馬股在接近本週末的數個交易日呈現上揚趨勢,並在週五衝上1400點。然而,一般上,在公佈預算案之前都會掀起一陣漲潮。他預料市場將在來週出現套利的現象,除非歐美市場表現不俗,才能夠扶持馬股的走勢。

符之源表示,基於全球經濟不穩定,馬股在1400點水平或許無法逗留太久。

他解釋:「馬股出現技術性反彈後便在1400點上下漂浮不定,再加上美國與歐洲債務危機外圍因素,若馬股無法守住1400點,可能會再度呈跌勢。此外,貨幣也將主導馬股來周走勢。若令吉陸續走強,股市將跟隨走穩,因為外資將流入市場。相反,若令吉疲軟,外資或測退市場,導致馬股下挫。」

相反的,Areca Capital基金經理黃德明卻看漲來週走勢。

他認為,歐洲央行遏制歐洲債務危機的舉措,將推動歐洲市場強勁上揚。同時,美國9月份銷售數據超越預期的消息,成功推動馬股連日走高,再加上2012年財政預算案,將可激勵馬股呈升勢。

同時,黃德明表示:「大馬財政預算案成功激勵馬股重探1400點水平,顯然是個正面現象。此外,經濟轉型計劃也將發揮催化劑的功效,因而希望馬股可維持該水平至今年杪。」

此外,他補充,經濟轉型計劃仍存有未實施的計劃,一旦落實與執行相關計劃,料可進一步帶動馬股走高。

以目前的市場局勢看來,符之源建議可考慮基本面強勁與本益比低的股項。

「儘管市場不明朗,導致馬股走低讓投資者有檢「便宜貨」的心態,但是我認為還是場外觀望為妙。不過,有意進場的投資者,在這市場不明朗之際,可考慮分批買進基本面強勁的股項,尤其是本益比介於4至5倍,如UOA發展(UOADEV,5200,主板產業股)、成榮集團(MUDAJYA,5085,主板建築股)及馬熔錫機構(MSC,5916,主板工業股)。

此外,史益合則看好政府推動的油氣和建築領域。

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发表于 2011-10-11 16:51 | 显示全部楼层
UOA buys 9.8-acre Kepong land for RM72.89 million               
Written by Surin Murugiah of theedgemalaysia.com          
Tuesday, 11 October 2011 15:34


KUALA LUMPUR: UOA Development Bhd is acquiring a 9.8-acre freehold land in Kepong for RM72.89 million to be developed into a residential development.

In a filing Tuesday, Oct 11, UOA said its wholly-owned subsidiary, IDP Industrial Development Sdn Bhd had entered into a conditional sale and purchase agreement with Tago (Malaysia) Sdn Bhd for the proposed acquisition of the land.

It said the acquisition would be financed by cash from internally generated funds.

UOA said it was committed to continue its fast turnaround development strategy that focused on the Klang Valley, and that the acquisition was in line with its and would further grow its development activities within Klang Valley.

The company said the land was located within close proximity to its other residential projects, namely, Villa Saujanis, Taman Megah Kepong and other on-going projects such as Kepong Business Park, Villa Pines and Villa Botanica, and was highly accessible via major highways such as Duta – Ulu Klang Expressway (DUKE) and Jalan Kuching.

UOA said the development was expected to commence in the year 2012.

“The total development costs for and the expected profits to be derived from the development of the land have yet to be ascertained at this juncture as the detailed development plan is pending finalization,” it said.

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发表于 2011-10-12 20:54 | 显示全部楼层
UOA to acquire land for RM72.9m      
  
KUALA LUMPUR: UOA Development Bhd, through its wholly- owned subsidiary, IDP Industrial Development Sdn Bhd, has entered into a conditional sale and purchase agreement with Tago (M) Sdn Bhd for the acquisition of a 9.8-acre (3.92ha) piece of freehold land in Kepong for RM72.9 million cash.

According to UOA’s announcement yesterday, the acquisition is expected to be completed in the first quarter of 2012 and will be financed by internally-generated funds.

“UOA is committed to continuing its fast turnaround development strategy that focuses on the Klang Valley. The acquisition is in line with UOA’s strategy and will further grow its development activities within the Klang Valley,” the company said.

UOA is proposing to develop the land into a residential development with work commencing in 2012. However, it could not divulge information on the development as the detailed final plan is pending finalisation.

The land being acquired is less than 10km from Kuala Lumpur City Centre and close to UOA’s other residential projects such as Villa Saujanis and Taman Megah Kepong.

It is accessible via major highways such as the Duta-Ulu Klang Expressway and Jalan Kuching, it added.

http://www.theedgemalaysia.com/i ... and-for-rm729m.html

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发表于 2011-10-13 12:27 | 显示全部楼层
uoa做什么了?涨得这么厉害?是不是有内幕消息?
sixsense1 发表于 2011-10-13 10:23



    这只股其实一直被低估,eps 那么高,profit margin 40 - 50%。。。如果下一季业绩好,还能涨的。。

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发表于 2011-10-13 15:04 | 显示全部楼层
UOA Dev jumps on Affin's report
Published: 2011/10/13



UOA Development Bhd jumped the most since its June debut after Affin Investment Bank Bhd said investors should buy the Malaysian property group because “value has emerged” following its recent slide.

The stock jumped 13 per cent to RM1.45 at 12.27 pm local time, set for its steepest gain since June 8.

That’s its third day of gains.

UOA is down 44 per cent from the issue price of RM2.60 paid by institutional investors for its initial share sale. - Bloomberg



Read more: UOA Dev jumps on Affin's report http://www.btimes.com.my/Current ... _html#ixzz1advYmTB7

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发表于 2011-10-13 18:17 | 显示全部楼层
这只股其实一直被低估,eps 那么高,profit margin 40 - 50%。。。如果下一季业绩好,还能涨的。 ...
bryan81su 发表于 2011-10-13 12:27


看IPO业绩要小心。。因为有些盈利是一次性的。。
要扣除后才能知道真正的profit margin和EPS

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发表于 2011-10-14 01:07 | 显示全部楼层
交投熾熱 UOA發展寫最大漲幅



(吉隆坡13日訊)近期頻進行產業建築與收購土地等活動的UOA發展(UOADEV,5200,主板產業股),今日價量齊升,除晉陞全場第二大熱門股外,更創下自今年6月8日上市以來的最大漲幅。

該股今日以全日最低1.31令吉開盤後,便維持上漲格局,並在午盤探觸至全日最高1.55令吉。該股尾盤稍微收窄漲幅,以1.50令吉結束交易,全天上漲17.188%或22仙。該股共創下3999萬零800股的成交量,大幅超越週三的1003萬4400股。因此,除了成為全場第二大熱門股外,也是全場第10大上升股項。

此外,UOA發展認購憑單UOA發展-CA(UOADEV-CA)也大熱走高,全日上升57.143%或2仙,報收5.5仙;並以3123萬9000股成交量,位居十大熱門榜第6位。

合理化水平使股價上升

該公司近期所進行的活動,包括子公司IDP工業發展私人有限公司,向Tago(大馬)私人有限公司收購一塊9.8英畝的永久地段,以及與越南Hoa Binh建設和房地產機構展開聯營發展等。同時,該公司管理層接受媒體訪問時也透露,將會進行更多相關的發展計劃與部署。

但艾芬投資銀行分析員認為,這不是驅動股價上升的主要催化劑。他認為該股上漲的主要因為股價已處於合理化水平,促使投資者進場購入。

UOA發展首次公開售股(IPO)零售價格為2.60令吉,當時一些市場人士市場認為該價格被高估,因此,自首日上市以來,UOA發展持續處在下滑格局,並不曾回升至其IPO價格。

無論如何,隨著該股早前已下滑至1.30令吉的水平,分析員指出,目前已是時候買進該股。有鑑於此,分析員給予股2.07令吉的目標價格。

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发表于 2011-10-14 01:09 | 显示全部楼层
UOA發展漲22仙 憑單晉升熱門榜
股市13/10/2011 21:09

 (吉隆坡13日訊)券商相信UOA發展(UOADEV,5200,主要板房產)價值已顯現,在受到投資者青睞,股票和備兌憑單雙雙受激勵,齊晉身十大熱門榜。 

 開市時,UOA發展報1.31令吉,起3仙,盤中揚勢不斷,休市每股以1.45令吉暫掛收,起17仙,成交量達2845萬8700股。

 其備兌憑單UOA發展-CA(UOADEV-CA,5200CA,主要板備兌憑單)以每單位3.5仙平盤開市后,一樣受到投資者追捧,交投活絡。

 休市時報5仙,揚1.5仙,成交量達2515萬3100單位。

 根據“彭博社”,UOA發展休市時每股17仙的漲幅,是該公司今年6月上市以來,最大的漲幅。

 而且該股至今,已經連續3天走高。

 艾芬證券研究昨日在分析報告中指出,UOA發展股價最近激烈下滑后,已顯現出價值,因此維持其“買入”評級。

 目前該股的價位,已低于其首發股每股2.60令吉發售價格約44%。

 閉市時,UOA發展報1.5令吉,漲22仙,成交量達3999萬800股;UOA發展-CA則報5.5仙,起5仙,成交量3123萬9000單位。

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发表于 2011-10-14 16:06 | 显示全部楼层
深跌後浮現價值‧產業股強勁回彈
大馬財經  2011-10-14 13:17

(吉隆坡13日訊)財政預算案後續效應持續發酵,加上產業股深跌浮現價值,促使股價在投資者趁低買進下強勁回彈。
馬頓一度起7.56%
其中,馬頓(MALTON,6181,主板產業組)獲Pavilion產業投資信托上市計劃烘托,股價連續3日走高,週四以起1仙的59仙展開交易,盤中一度在強勁交投資下,起4.5仙或7.56%至62.5仙全日最高,終場起3仙或5.17%至61仙。
UOA發展(UOADEV,5200,主板產業組)在連月下跌後,獲得艾芬投資銀行指股價“浮現價值”,令該股連漲3日,週四以起3仙的1令吉31仙開出,隨後漲勢獲洶湧買盤支撐不斷擴大,最高起27仙或21.09%至1令吉55仙,終場報1令吉50仙,起22仙,創下今年6月上市以來最大漲幅。
其他產業股方面,UEM置地(UEMLAND,5148,主板產業組)起4仙至1令吉91仙,馬星集團(MAHSING,8583,主板產業組)揚5仙至1令吉87仙,但實達集團(SPSETIA,8664,主板產業組)則跌1仙至3令吉86仙。(星洲日報/財經)

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发表于 2011-10-21 19:23 | 显示全部楼层
UOA Development Bhd   

KUALA LUMPUR: Shares in UOA Development Bhd have begun to recover after slumping up to 55% from its initial public offering price.

Investor interest has been gaining momentum in the last week as heavy trade buoyed the stock, which saw its volume peak at 39.9 million shares last Thursday.

UOA Development re-emerged on the top actives list yesterday, and was the fifth most actively traded stock with 35.43 million shares changing hands. It added 19 sen or 12.6% to close at RM1.70 yesterday.

“The stock sank due to the broader decline in the equity market. Property stocks tend to be hit the hardest as they have a higher beta and are more sensitive [to changes in the market],” an analyst with Affin Investment Bank told The Edge Financial Daily.

The stock, which listed on the Main Market on June 8, had plunged to a low of RM1.16 at end-September following months of steady decline. While the stock has since rebounded 46.6% from its lows, its current price is still 34.6% lower than its IPO price of RM2.60.

Affin Investment has maintained its “buy” call and target price of RM2.07 for the stock, a 20% discount to its revalued net asset value (RNAV).

“UOA Development may have been harder hit (relative to its peers in the industry) as there is a common misconception that the company has a heavy reliance on its Bangsar South development,” said the analyst.

According to the research house, the company currently has six projects under development across Kepong, Bangsar South, Segambut, Setapak and the KLCC area.

“Bangsar South does provide strong support to its earnings and sales though the company has several standalone projects too,” said the analyst.


Together, these projects  have an estimated gross development value of RM2.07 billion. The company recently entered into a sale and purchase agreement to acquire a 9.8-acre (3.97ha) parcel of land in Kepong for RM72.8 million.

“We are neutral on the proposed acquisition as we think the acquisition price of RM170 psf is reasonable, and we believe there is a ready demand for new residential properties in the Kepong locality,” said Affin in a report issued earlier this week.

The company had gross cash and equivalents of RM368.37 million, with minimal borrowings of RM20.88 million as at end-June.

Director David Khor told the media that the recent purchase was part of five or six projects planned for next year.

The company recorded RM533 million in sales for 1HFY11, as it saw a higher contribution from its residential segment than its commercial segment. Contribution from its residential segment rose to 59% from 25%.

http://www.theedgemalaysia.com/i ... extend-rebound.html

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