I started to come across Fututech in Dec last year. I knew that its profit was going to increase significantly by venturing into property development business.
Recent notable projects by KPSB include:
- E&O's Seri Tanjung Pinang (RM410mil)
- Eco World's EcoSky (RM 463mil)
- SP Setia's Setia Sky 88 (RM463mil)
- 100 Residency Setapak
- The Shore @ Malacca River
Is Fututech still attractive at share price of RM1.79 now?
Moreover, I'm not sure whether the RM150mil is calculated from Jan15 or from the day the acquisition is completed.
In summary, Fututech's financial results are likely to increase progressively from year 2015 to year 2017, with best result achieved in 2017.
Mr Tee still owns a private property development company known as Kerjaya Prospek Property Sdn Bhd which owns Malacca's tallest building The Shore @ Malacca River.
Its other property projects include Residency V (Old Klang Road), 100 Residency, 222 Residency, 288 Residency (all Setapak) & Viridian Cheras Idaman.