malaysia bizstar article: uoadb hits rm2, page-5

This article:

http://biz.thestar.com.my/news/story.asp?file=/2013/4/2/business/20130402085804&sec=business

Quotes first quarter sales of RM900m, so the RM2b sales target mentioned in Quickbux' post for 2013 shouldn't be a stretch.

UOADEV are starting to sell off some pretty substantial buildings to build their cash in preparation for the substantial ramp up in development in future periods. The above article mentions an 'enbloc sale to PHB' which will drive the expected tripling in first quarter UOADEV profit to around RM110m.

The below newspaper article (requires translation) indicates a further sale has just been made (though small enough UOADEV may not make a separate announcement)

http://www.kwongwah.com.my/news/2013/04/09/121.html

The announcement referred to is here:

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1250593

Apparently the price is RM64m, so as I say, not large enough to warrant disclosure from UOADEV.

This recent trend to dispose of some substantial properties means the asset-heavy, but cash-flow weak nature of the business is transforming somewhat & the cash-flows will more closely align with the business profit experience.

The next couple of years will be transformative for UOADEV (and consequently UOS) in my view. I don't think I've ever looked forward to an AGM more... Eternalgrowth