re: gtp seriously undervalued! Hi zwu,Not disagreeing with you....

re: gtp seriously undervalued! Hi zwu,

Not disagreeing with you. I was being too vague without the figures infront of me for my last message.

Here is my analysis according to the latest report:

Retained Profits (Cash + Receivables): 100.3 mil
Contributed Equity (made up mostly of land): 126.5 mil

Net Asset : 100.3 mil + 126.5 mil = 226.3 mil
Current Market Cap: 273 mil
This years earnings: 41 mil

Since you can pretty much treat receivables as cash in the future. Here is my P/E ratio calc by subtracting the cash component.

PE (subtracting cash)= (273mil - 100.3 mil)/41 mil
= 4.21!!!!!!

How cheap is this for a stock that has a record of paying out earnings and has good medium term growth potential