Under-value: P/BV ~ 0.53, P/Sales ~ 0.67.
02 Jan 2012, 10:08 PM
How to calculate their P/BV ~ 0.53? Is lowest the better such as 0.09 ?
03 Jan 2012, 08:51 AM
thumbupHLIB Research 6 Jan 2011 (Hua Yang)

A Pure Play In Affordable Housing

'''' An established developer within the affordable housing niche, with a first-mover advantage.

'''' Moving more aggressively and dynamically under their new CEO, Mr Ho Wen Yan.

'''' We see RM500m as the RM500m is the "magic number" in terms of launches, and they have lined up RM1.3bn launches for the next 2 years

'''' Some good news for their flagship project One South, as an additional phase of high-rise serviced apartments has been added in, which could bring overall GDV to the RM1bn mark.

'''' We are forecasting 69-96% earnings growth in FY11-12, and in our view Hua Yang provides the cheapest exposure to the affordable housing theme, given that it trades at less than 5x P/E.

'''' We set our target price at RM1.52 (70% discount to RNAV), implying 3.1x P/E for FY12E.
08 Jan 2012, 10:44 PM
Ya,early morning the price been up le.thumbup
09 Jan 2012, 09:14 AM
HYB maintained liked, with everything just in the right place & timing:

- normal buy vol (RSI keeping at 60) and MA(20) at up-trend.
- ONE-South GDV appreciated from 840mio to 950mio, which directly enable SOHO to be priced higher than the conservative GDV160mio (expected 15% higher at FY13 earnings).
- 50% booking from Gardenz able to close at FY12.
- > 90% Tmn Pulai Indah booked.
- > 70% take up rate for Symphony Heights
- expected better take up rate for Desa Pandan @ GDV160mio (strategic to Royal Selangor Golf club).
- 30% earning contribution from BUSI to FY12.

Clear visibility of earnings, and still 50%~60% discount to RNAV. On track to achieve 55% 3yr earnings CAGR.

HYB is clearly position its firmed footing to be the key beneficial of MFHS for all its projects vs the overall underperform property sector this year.
13 Jan 2012, 01:56 AM
fyi... inclusive of the last 5days P value, the target price should re-cal at RM1.60 adjusted.
13 Jan 2012, 02:00 AM
HUAYANG is one of few properties counter that able to make new high. thumbup
13 Jan 2012, 08:35 PM
Wah...What a good result...
Congra to all HUAYANG shareholder. thumbup
18 Jan 2012, 07:25 PM
yeahHua Yang 3Q earnings up 90% to RM14.57m, unbilled sales at RM505m

KUALA LUMPUR (Jan 18): HUA YANG BHD earnings jumped 90% to RM14.57 million in the third quarter ended Dec 31, 2011 from RM7.68 million a year ago underpinned by better sales of its homes. It also recorded unbilled sales of RM505 million.

It said on Wednesday its revenue rose 70.8% to RM84.25 million from RM49.30 million while earnings per share were 10.12 sen versus 5.33 sen.

Chief financial officer, May Chan said total sales achieved for the third quarter was RM175 million, an increase of 141% from a year ago.

For the nine-month period, the property company chalked up strong growth in earnings and revenue.

Its earnings rose 136% to RM39.94 million from RM16.90 million in the previous corresponding period while its revenue increased 81.8% to RM222.13 million from RM122.15 million.

Chan said the strong financial performance was due to better sales achieved for phases under development and steady recognition of CONSTRUCTION progress. There was a strong demand for its projects nationwide, she added.

“Our homes in the Klang Valley, Ipoh and Johor have received positive response from the mass, middle-income segment consisting of first-time homebuyers and up-graders. The My First Home Scheme (MFHS) has also contributed to sales, particularly for our projects outside of the Klang Valley,” she said.

Cumulative sales for the period stood at RM451 million, surpassed the sales of RM310 million in FY ended March 31, 2011.

“With unbilled sales for the financial quarter standing at approximately RM505 million, we are confident of improved earnings visibility for the group going forward. We will continue to strive for a stronger finish in our next financial quarter,” said Chan.
18 Jan 2012, 08:48 PM
Rev came in 84m, was 6m below calculation target.
which showed remain Gardenz booking will continue to flow into Q4.

Unbilled sales 505m is another astonishing number. It is a solid 110m increase in 3mth (vs last quarter end), which even higher than Rev of 84m. This number indicated:
- ONE-South Gardenz & Symphony Heights GDV appreciation happened as expected 10%-13%, give very good positive effect to SOHO and Desa Pandan projects.
- 2.7x of FY11 yearly revenue, => a clear visibility earnings for up to the following 4Q.

36% increase of Landbank held for property development, amounted 202m (i believe they are the acq Shan Alam 3.73ac and Desa Pandan 1.55ac) continue to see HYB again demonstrating in careful-aggressive selection of strategic land for all its projects.

With this, HYB is right on track to blow the 55m earnings this year, giving 38.68cent EPS. At conservative 26% payout ratio, 10.20cent dividend could be expected.
19 Jan 2012, 01:28 AM

I have checked their dividend payout for pass few years. The dividend payout is around 25 - 33%. Assume 10.20 cent dividend, the DY is around 7-8% at the current price of RM1.35, still quite attrative. drool.

But my only concern is whether their business can be sustainable at this level since property industry can be very fluctuating especially for coming years.
19 Jan 2012, 09:25 AM
For Hua Yang, it all starts with good homes

Hua Yang CEO Ho Wen Yan’s ambition does not differ from the founder of the company, none other than his late father, Ho Mok Heng, who aspired to build quality homes in strategic locations that were affordable for everyone.

KUALA LUMPUR: Hua Yang Bhd is on a drive is to see the country does well by providing good homes for first-time buyers.

“From the first house, the buyer can build a family unit, who will then develop the nation. It all starts with having a good home,” said Hua Yang chief executive officer (CEO) Ho Wen Yan.

Ho’s ambition does not differ from the founder of the company, none other than his late father, Ho Mok Heng. Mok Heng aspired to build quality homes in strategic locations that were affordable for everyone.

From the first project, comprising eight units of four-storey shops in Ipoh, Perak, the group expanded to other states. Today, it has completed over 10,000 commercial and residential units worth RM1.2 billion.

As a trained architect, Ho is very passionate about buildings and urban planning.

Ho, who holds a Masters of Science degree in Construction Economics and Management from University College London, practiced architecture in the UK prior to joining Hua Yang. In 2003, he was made Hua Yang’s project coordinator in Johor and promoted to chief operating officer in June 2007.

Come next month, it will be a year since Ho has led as the group’s CEO.

“Here, we treat everyone as equal … Everyone drives the business for the company,” he said.

Married with one child, 37-year- old Ho likens his job to a cheerleader. “My role is to support them (employees), so that they can produce good work for the company.”

He believes that Hua Yang has the right balance of experiences and perspectives to expand further.

“We have a right balance as the board consists of more senior people, while the younger people are on the operation side,” he said.

He himself taps the experience of those who have served the company longer than him. “As a young CEO, it gives me a different perspective and drive,” he said.

Ho’s emphasis in family life and health are reflected in the group’s activities, which involve sports and family outings.
01 Feb 2012, 05:29 PM
Hua Yang plans affordable housing projects

Hua Yang Bhd plans to launch affordable housing projects with a total gross development value (GDV) of about RM500 million in the Klang Valley in its 2014 financial year.

Chief executive officer Ho Wen Yan said: "We are in the midst of securing land bank for these mixed development projects. The first launch will be in the next financial year."

He told Bernama today that the affordable housing projects would be in Selayang, Seri Kembangan and Desa Pandan.

"The company is constantly looking to replenish its landbank with specific areas in the Klang Valley being considered are Selayang, Seri Kembangan and Desa Pandan," he said.

Ho said the projects would take between three and five years to complete.

He also said that the company planned a gated development with a GDV of RM70 million in Perak in its financial year ending March 31, 2013.

According to Ho, the company was currently in the process of purchasing a piece of land, which was strategically located in Perak for the gated development. The project will comprise affordable terrace houses measuring 22x70 feet with price tags below RM400,000.

Ho said the company would continue to focus on affordable houses, a segment which Hua Yang had been getting tremendous response since it started its property business in 1978.

"We've been selling between 30 per cent and 50 per cent of our properties during our launches,” he said.

Hua Yang is in the midst of developing five projects with a total GDV of about RM983 million of which 85 per cent of the properties worth RM835 million have been sold.

Two of the five projects, namely Symphony Heights and One South with GDV of RM205.7 million and RM515.3 million respectively, are in Selangor.

Another project, Senawang Link which carries a GDV of RM17.8 million, is located in Negeri Sembilan. Its other two ongoing projects, Bandar Universiti Seri Iskandar with a GDV of RM56.3 million is in Perak while Taman Pulai Indah which has a GDV of RM187.8 million is in Johor. -- BERNAMA
02 Feb 2012, 09:44 PM
Hua Yang to develop pedestrian mall in Perak

Hua Yang Bhd, has unveiled plans to develop a pedestrian mall at its 838-acre resort-style township, Bandar Universiti Seri Iskandar (BUSI), in Perak.

The developer will also launch three types of homes at the township.

The ongoing development has a gross development value of RM80 million for the 2013 financial year, Hua Yang said in a statement.

"To further enhance the facilities, lifestyle and business hub of BUSI, we will be previewing the Pedestrian Mall at our sales launch on March 10," said Tony Ng, its Branch Manager for Perak.

"We will also launch three types of affordable homes, priced from RM130,000 to RM180,000 for a single-storey to a double-storey linked house," he added.

One of the main highlights of BUSI is the 38-acre natural lake fronting the contemporary series of homes called EcoLake@BUSI Homes.

"The Sierra semi-detached homes, part of EcoLake@BUSI Homes series, is a gated and guarded concept complete with an exclusive park and a view of the lake," Ng said.

BUSI is planned as an integrated lakeside township complete with facilities and amenities including commercial shoplots, hospitals, schools, education centres, budget hotels, club house and pedestrian mall.

The development, Hua Yang's biggest township project in the country, is 40 per cent completed while the remaining 60 per cent is scheduled for completion over the next 12 years.
08 Mar 2012, 09:57 AM
Fantastic report. smile
Huayang is one of few Properties counter that still posting good report.

Is it going to declare 15cents dividend? drool
24 May 2012, 12:32 PM
Some important points taken from the report:

18. Dividend Payable
For the financial year ended 31March2012, the Board of Directors propose a first and final gross dividend of 15% per share,less income tax of 25% amounting to RM16.2million, subject to the approval of shareholders at the forth coming Annual General Meeting.

22. Current Year Prospect
The Group is satisfied with the steady growth, strong demand and sales achieved for the year ended 31 March 2012. Despite the uncertainties in the global economy, couple with the challenging and competitive business environment, the Group remains optimistic of posting improved results for the next financial year and being able to sustain through these challenges
24 May 2012, 01:42 PM
Great performance for these few days due to historical highest quarter revenue and profit!!! yeah thumbup wub

Hope the August AGM can pass the 15 cents dividend proposal and 4:1 bonus share proposal!!! drool

It's continuously giving away bonus share in current 3 years!!! lol
20 Jul 2012, 09:07 AM
Latest 2012 annual report shows that 冷眼 is the top 30 share holder!!!! lolyeahthumbupwub
31 Jul 2012, 12:55 PM

Huhh....Good onewub
31 Jul 2012, 01:08 PM
So many good news recently. 15 cents dividend + issue bonus + 冷眼 is the top 30 share holder.
31 Jul 2012, 01:09 PM

Overview Market Search portfolio More
Overview Market Search Portfolio More
Recently Viewed