China New Town

Mel
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13 years 1 month ago #5392 by Mel

Replied by Mel on topic Re:China New Town

this mornign annoucned fy10 results, with profit at rmb246,794, up by 48%.

info.sgx.com/webcoranncatth.nsf/VwAttach...0310.pdf?openelement

i couldnt find the NAV, or RNAV figure though in the announcement. what happened?

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Mel
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13 years 1 month ago #5403 by Mel

Replied by Mel on topic Re:China New Town

handsomeinvestor8 says: For those still dont understand why CNT's shares is DIRT CHEAP, read this. An extract from the annual report.

LAND DEVELOPMENT FOR SALE

Land development for sale represents cost of land development within the districts of the new town development projects. Though the Group does not have ownership title or land use right to such land, the Group is given the right to carry out construction and preparation works in respect of land infrastructure and ancillary public facilities in those new town development projects. When the land plots are sold by the local governments, the Group is entitled to receive from the local authorities a proportion of the proceeds from land sales (including related public utilities fees, if any).

My analysis:

This means that the item "land development for sale" in the asset column of the company's balance sheet is just the "cost of land development". And we know that the true economic value of the land after it has been developed and ready for auction is so much more. That is why the "book value" or the NAV ("net asset value"} of the company GROSSLY underestimates the TRUE MARKET VALUE of the company.

So we know that the TRUE MARKET VALUE should be GREATER THAN NAV

Today the CURRENT market stock price is 9.5 cents which is less than the NAV (abt 16 cents).

So, like i have said many, many times CNT's stock price is way undervalued.

The company should do a massive share buybacks now before price shoots up. I believe many smart investors are accumulating the shares.

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harry_yap
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13 years 1 month ago - 13 years 1 month ago #5508 by harry_yap

Replied by harry_yap on topic Re:China New Town

he also said these since last year!

handsomeinvestor8 wrote:
I REPEAT, HERE ARE MY PERSONAL PRICE TARGETS:
SHORT TERM PRICE TARGET - 22 CENTS
MEDIUM TERM PRICE TARGET - 83 CENTS
LONG TERM PRICE TARGET - $2 - $3

You actually believe this guy?? hahaha... please do a diligent check on all his posts.. all nonsense. He has been saying this share will rise since last year at a recommended buying price of 20 cents!!!..

Last edit: 13 years 1 month ago by harry_yap. Reason: amend

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pine
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13 years 4 weeks ago #5557 by pine

Replied by pine on topic Re:China New Town

Not so great news from CNTD:

SGLD and the People’s Government of Shanghai Baoshan District have reached new agreement regarding the Proceeds Percentage that SGLD is entitled to on the land sale proceeds in the Luodian New Town. As a result, the percentage that SGLD is entitled to on the land sale proceeds in the Luodian Project will be reduced by 15% to approximately 50% from 1 January 2011 onwards. The foregone proceeds will be retained by the local government to help finance construction of affordable housing in line with policies of the country.

To counter the bad news, here is the ok news:
The Lake Malaren Silicon Valley Office Headquarters Project is an additional revenue source to SGLD on top of its long established business of new town land development. We believe that, the profit and cash flow stream generated by the Project in the next few years will minimise the impact of downward adjustment in the Proceeds Percentage that we are entitled to on the land sale proceeds in our Luodian Project.

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Mel
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12 years 7 months ago #7095 by Mel

Replied by Mel on topic Re:China New Town

My eyes popped out! China New Town is up 48%!!!!
9 cents now. Volume is big
Why ah?

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Mel
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12 years 7 months ago - 12 years 7 months ago #7097 by Mel

Replied by Mel on topic Re:China New Town -- insider buying

ok, the SGX queried .... and it turns out that a substantial shareholder related to the management whacked 262,000,000 shares at one go.

No wonder!

262 m shares!

Even at 6.1 cents a share, it's no small beer. Question is, will the buying continue?

Last edit: 12 years 7 months ago by Mel.

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