Hua Yang Quaterly results

Remember my tea break for shares? This is my maiden post on share investment where I pick this company as one of the stocks in my portfolio.

A check on the Bursa Malaysia announcements, Hua Yang has announced their Q2 FY2012 results that are very impressive with Profit before tax(PBT) of RM18.89m for the current year Q2 ending 30th September, 2011 increased by more than 320% over the previous year corresponding Q2 figure of RM5.90m.  The cumulative  PBT year to date for current year  increased by more than 269% over the previous year cumulative period of corresponding period. The net asset per share attributable to equity holders of the parent company stood at RM2.23 as at end of current quarter period as compared to preceding financial year end of RM2.05.
Hua Yang Q2FY2012 results announcement here from Bursa Malaysia website
They had earlier on 22 August 2011 announced a 7.5 % first and final dividend and duly paid on 28 September, 2011. On 13 October, 2011, the company announced a bonus issue of 1:3 and the entitlement date is on 28 October, 2011 and the ex-date is on 25 October, 2011.

I was impressed with their performance when I was looking for a good dividend paying shares to invest and bought and hold on until now hoping that it would reach my personal target price of RM2.00.  However, due to the European zone crisis and the global downtrend, it has gone down below my entry point and now it is just closing at RM1.60 as at 19 October, 2011. Hopefully it will be there regardless of the bad news from Europe zone. It could have been easily achieved if not for the negative sentiments over the last two months. After the bonus issue, if the price goes up to probably RM2.00, to me, it will then be trading at its fair value.  The volume of transactions in recent weeks are not like that of those of more established names in the properties such as the YTLLand, Malton, UEMLand, Dutaland and UOADev. The interest in the counter is picking up slowly after the announcement of the bonus issue.

According to its press release recently, the company is confident of reaching its sales target of RM350millions for FY2012. They have ongoing projects in Klang Valley, Ipoh and Johor to sustain them through to the FY2012.  Hopefully it will boost investors confidence to stay invested in the company. It is covered by a number of research houses.  Here is a link to RHB Research's report that is available on Hua Yang's website at Investor Relations.

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