Total GDV (Mah Sing Portion): RM900M * 60% = RM540M
Expected Take Up Rate = 90%
Total Revenue = 486M
Expected Gross Profit Margin = 25%
Expected Gross Profit = 121.5M
Expected Net Profit Margin = 15%
Expected Net Profit = 72.9M
Expected Completion Time = 5 years
Average Profit for each year = 14.58M
Average EPS for each year (expected average number of shares outstanding = 850M) = 1.7sen
It is not a big project to Mah Sing, given the current market value of Mah Sing of approximately RM1.9B - RM2.0B now. However, I sincerely hope that Mah Sing can keep its promise to increase current land bank to around 19B to 20B.
P/S: Please consult your investment adviser before making any investment decision.
Location:Stamford Rd,,Singapore
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