How Underrated Is EUPE?

EUPE is a well-known property developer based in Sungai Petani, Kedah. It has multiple townships development in Sg Petani, Gurun & Padang Serai.

The most notable development is Cinta Sayang Resort & its township with a 18-holes golf course, hotel and water park. 

During previous property market boom in early 2010s, EUPE started to venture into property market in Klang Valley.

In 2011-2012, it announced its plan to acquire lands in Puncak Jalil, Bangsar South & Cheras. The Puncak Jalil land deal which was meant for landed properties was terminated later.

At that time, I had some interest to invest in EUPE as I thought those high-rise projects in KL should carry higher GDVs which would boost its profitability significantly.

However, its first KL project "Novum@Bangsar South" which was initially planned for early 2013, has been delayed to Mac 2016, the time when property market went downhill.

Nevertheless, EUPE's venture into property development in Klang Valley is a successful one.

Sunway, Sunreit or Sunway Belfield?

In September last year, I wrote something about property investment again: When Is The Next Property Boom, after ignoring it for so many years.

One month later, there was another post about property, Property vs Stock Market Investment.

These two posts were written mainly for one person, which was myself. I wrote to convince myself to go ahead with my plan to get another property.

Since the return of HOC (House Ownership Campaign) in Jun20, I started to explore the possibility of investing in a property.

I was actively looking for a good deal and I finally found one new project in Oct20. 

Nice to CU with myNEWS

If you ask me about myNEWS in year 2019. I'd say just forget it.

The only myNEWS store I've seen at that time was the one inside Aeon Bukit Mertajam Shopping Mall in Penang.

It's a small store and most of the time there are no customers inside.

The name is weird too. I thought it's selling newspaper.

To me, convenience store business is highly competitive and has low barrier of entry. That's why I was not interested in 7-11 (SEM) & myNEWS and did not bother to read their financial reports.

In Jan20, a blog reader who is a successful fundamental investor mentioned that he invested in myNEWS. He actually bought a lot of its shares.

That prompted me to study myNEWS's financial reports.

My Portfolio Mac21

Summary for March 2021

Portfolio @ End of Mac21

In general, March 2021 is not a good month in stock market. My portfolio lost 7.1%, mainly due to the decline of my major holdings SCIB & Jaks.

Taking some profit from SCIB earlier in the month helps to reduce the percentage of loss.

I still hold quite a lot of SCIB shares. I believe the company can continue to grow in 2021 and hope that it can achieve its RM2bil market cap target by the end of this year.

Jaks just released a bad quarter result with a shocking RM103mil loss after tax and minority interest in its FY20Q4. Its loss before tax for the quarter is RM183.5mil.

However, there are reversal of disposal gain (RM85.3mil), impairment loss of goodwill (RM52mil) & receivables (RM23.6mil), share grant plan expenses (RM17.1mil) and loss on disposal of investment properties (RM5mil) in this quarter alone.

After deducting all those bigger items above, its actual loss before tax is just RM0.5mil in the quarter which is not too bad.