"Group revenue is mainly driven by its property development division (85% of total in FY17). It has adopted a resort city model in MOrib, Langkawi and Kuching following its successful project launches in Bukit Gambang Resort City.Affin Hwang Research noted that Sentoria has RM349mil in unbilled sales, which is equivalent to 1.3x FY17 revenue. "In FY18, the group plans to launch property projects worth RM592m out of total remaining GDV of RM9.3bn. "Sentoria believes that the 20% Ebitda margin can be maintained given the strong demand for affordable housing in its key operating areas and its competitive advantage in being able to acquire land at relatively low cost. "Sentoria’s current trailing CY17 PER 8x and Price/Book of 0.8x are at discounts to most peers," said Affin Hwang Research.
Source: The Star April 17, 2018 00:56 UTC