No... even if pahang falls to PAS, Genting wil b not reli b affected coz the new casino is not in Pahang. The old one is. Tats y genting builds another casino. Such a gud foresight and management tis company has.

Btw i jz bought Suncity. Duno wil keep cont to fall anot coz property and construction stock.

Suncity is now trading at PE of 5X. Quite a good buy.

Suncity closed at 2.71 today. Can you please explain how you arrived at a PE of 5X? I took a quick peek at the latest Q4 2007 earnings release. The profit of 310m is deceiving because this entirely due to the one off revaluation gain of 316m. Said differently, without this revaluation which they disclose as "there is no significant and indicative
change in value of the said investment properties since the last balance sheet", Suncity actually made a loss last quarter.

As far as I can tell, its EPS has been decreasing the past two years. So I'd be grateful to know why you think it is a good buy.

I have not done the calculations but read the news :-

DJ MARKET TALK: Malaysia Market De-Rating Offers Bargains - UBS - 2008-03-11 04:09:00.0



0409 GMT [Dow Jones] UBS says Malaysian market de-rating offers bargains. Says post-correction, three lowest-P/E stocks under coverage are Kinsteel (5060.KU) at 5.8X, Sunway Holdings (4308.KU) at 6X, and Sunway City (6289.KU) at 6.5X. "We think the sell-down on Kinsteel and Sunway Holdings have more than priced in earnings risk from potential delays in infrastructure spending." Notes highest dividend yield stocks under coverage now Gamuda (5398.KU) at 7.8%, Bursa (1818.KU) at 7.1%, Public Bank (1295.KU) at 7%. "Clarity on politics could trigger a rebound for the KLCI. While it is difficult to second-guess the political news flow, we think both BN and the opposition parties will unlikely want to see a sharp slowdown in economic activity in the near-term. Thus, we believe the political posturing on both sides could be short-lived." Says UMNO elections next key event to watch. KLCI up 2%. (LES)

That analyst should be fired IMHO

After checkin is 8.x. Suncity is gonna revalue alot of its properties coz some properties wil b goin to b listed as reit later tis year.

But still,
Excluding the fair value adjustment from the revaluation, the net earnings from operations is RM47 million as compared to RM45 million in the previous quarter(2nd quarter). The 1st half of FY2008 net earnings of RM92 million is 48% higher than the 1st half of FY2007 net earnings of RM62 million.

The significant jump in net earnings is due to better performance from all business components. The Property Development Division sees stronger earnings from Sunway Damansara commercial development and Kiara Hills. Apart from the earnings enhancement from Sunway Pyramid Mall expansion, the Property Investment Division also recorded better results with improved occupancy and room rates from its hotel operation.

The management maintains its positive outlook for the Group for the financial year ending 30 June 2008, backed by recorded unbilled sales of RM1.2 billion, representing unbilled sales of RM964 million as at 31 December 2007 and RM219 million for the enbloc sales of Palazzio Condominium, which was signed in January 2008. The Group has recorded sales of RM924 million for the 1st half of FY2008 including the en-bloc sales for Palazzio Condominium. This is approximately 68% of its FY2008 sales target of RM1.3 billion. The completion and opening of the key property investment project namely Sunway Pyramid Shopping Mall expansion in October 2007 and the better hotel performance derived from Visit Malaysia Year 2007 will continue to support the Group's performance.
Source:http://www.sunwaycity.com/news.htm(edited version)

This post has been edited by SImPle PLan: Mar 12 2008, 02:13 AM