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Support 2.09 and 2.00..... resistance 2.20 and 2.34. long term at least touch it's nav...
des_khor ( Date: 20-Mar-2010 16:15) Posted:
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lpkoh5 ( Date: 11-Mar-2010 20:29) Posted:
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NEWS RELEASE
Attributable profit up 770% to $52 million
Growth underpinned by progressive property sales recognition
SINGAPORE, 24 February 2010
by $79.1 million (13%) to $703.7 million from $624.6 million in 2008 mainly due to the progressive
recognition of revenue from residential development projects, – United Engineers Limited (‘the Group’) increased revenueThe Rochester in one-north and
Park Central @ AMK
Integrated Resort
$162.0 million in 2009. Gross profit percentage was 23.0% compared with 23.2% for 2008.in Ang Mo Kio, as well as an engineering project for the Marina Bay Sands. Arising from the increased revenue, gross profit rose $17.4 million (12%) to
With NAV at $3.52 and current price only $1.95....it will move up slowly....
Got $700 million of construction and engineering projects to date.......
With assets such as United Square etc that give them recurring income, the profits will be assured......and can sell some assets when price are right too.....
When recognise the profit from the units sold in two of their properties project in One North and AMK....their NAV will increase further.......
Personally, I feel it is too late to buy now. Should have brought in early Jan.
Beside this, the trading volume is thin. Not a lot of interest here.
Possibly from cimb....they issued a buy call at $2.83 recently....