- property development, which is engaged in the development of residential and commercial properties, and sale of development land(highlighted red is contributed largely for the current revenue, refer to Q1 2016)
- construction, which is engaged in the construction of property development projects and other similar construction activities
- property letting, which is engaged in the rental of properties
- investment holding
Quick glance:
What is the Company's plans:
- Clear off debts & future development plan (Source)
- highlighted below shows they are desperate to clear the debts as last Q2 sold two more lands for cash...
How much debts?
- 262.8mil
- Cash from balance sheet shows that the company has 69mil (not to mention 39mil inventories and 35mil of receivable)
Total of cash = 557mil(assume if da:men confirmed sold)
Net cash total/share is 0.647(12.5% upside of current 0.575) as 294.2mil(557mil-262.8mil) / 454.7(mil of shares)
However, I can also conservatively calculate GOB share price at around 0.78 per share(regardless of other segment's revenue, see Pic A) by Q2 2016 as 353.1mil/454.7(mil of shares)
353.1mil = 488mil + 39mil inventories + 35mil of receivable +16.3mil cash coming in future(see below) - total of debts
Pic A:
Conclusion: GOB is considered undervalue even current weak market sentiment for property segment!
*I didn't hold any share of GOB as just write for fun, it's not a buy/sell call as just for reference only
*too bad no dividend
Other info:
btw, sharing a chart of after AMPROP sold off Kesas for 280mil cash last time at April 2014.
- estimated upside of 80-90%
Hope you enjoy reading, good luck and to be continued...
Still learning and always will be :)
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