Thanks 1860 for the very clear and extremely helpful comments to understand the business
If I have then interpreted the above correctly, you are implying that we should see less sales from completed projects in the next 12-18 mths (so lower revenues that are reflected in the accounts), but an increase in unbilled revenues as the new developments (Aster Hill, Laurel and Bamboo Hills) progress and presumably some of these are sold off plan.
I did not see the value of 'Investment properties' increase materially in UOA's quarterly accounts (~MYR 1.65bn) and Other Income has been relatively flat over the last 2 quarters (~MYR 90m) so does that mean that we should expect to see profits fall over the next 12 mths before it picks up as the new developments are sold?
UOS Price at posting:
56.0¢ Sentiment: Hold Disclosure: Held
(20min delay)