Wednesday, September 22, 2010

GLOMAC ... Sep10

Property developer Glomac Bhd has a pipeline of projects worth RM2.5 billion for launching, of which at least RM621 million is planned for the current financial year ending April 30, 201.

The planned and potential launches (such new projects as the RM250 million Glomac Al Batha Mutiara and the RM400 million Glomac Utama (in FY11), which are both currently planned for FY12), on top of an already huge pool of unbilled sales, may help push up Glomac’s revenue for the current financial year and next, to reverse a dip in revenue in FY10. Its unbilled sales had hit a record of RM588 million as at April 30, 2010, compared to its FY10 (FY ends April 30) revenue of RM316.8 million.

Armed with cash balances of RM154.2 million and a net gearing of only 11.5%, Glomac is ready to undertake more developments and land acquisitions when opportunities arise. For instance, it is seeking to acquire new landbank in Cyberjaya and has several new projects in the pipeline.

During FY10, the group acquired two pieces of adjoining leasehold land measuring 7.62 acres (3ha) in Petaling Jaya for RM31.2 million or about RM94 per square foot. The land, strategically located adjacent to Bandar Utama, is targeted for mixed residential and commercial development branded as “Glomac Utama”, with an estimated gross development value (GDV) of RM400 million.

Meanwhile, Glomac Al Batha Mutiara, which is to be built on a 1.3-acre freehold land in Mutiara Damansara, has been redesigned as serviced apartments, from mixed commercial development previously, to cater to the likely shortage of apartment or condominium space for professionals in the area. Te project will have an estimated GDV of RM250 million.

Another new project is Plaza Kelana Jaya Phase 4, which is to be sited on a 3.2-acre freehold land adjacent to Plaza Kelana Jaya and its signature lakeside promenade.
The properties consist of an office block, shopping mall and office suites, with an estimated total GDV of RM280 million. While this project is scheduled for launch in FY12, Glomac also is currently exploring potential en-bloc sale of the project in its entirety.

In FY10, Glomac registered a 28% increase in net profit to RM40.85 million from RM31.98 million in the previous FY. This was aided by a higher gross margin, which climbed to 30% from 23% in FY09.

Revenue had however dropped 8% y-o-y to RM316.76 million in FY10 from RM345.27 million previously. This was in line with the decline in the total value of local real estate transactions, which fell 8% to RM81 billion in the calendar year 2009 from RM88.3 billion in the previous year.

Glomac’s basic earnings per share (EPS) climbed to 14.15 sen in FY10 from 11.37 sen, while net assets per share also rose to RM1.88 from RM1.85.

38 comments:

Anonymous said...

LkfNfg [url=http://canadagoosejacketsite.com/]canada goose outlet[/url] SolDma JgfUwt http://canadagoosejacketsite.com/ XmbUgx VotMyu [url=http://canadagoosejacketclub.com/]canada goose[/url] BjlVnu ZwgBss http://canadagoosejacketclub.com/ DhtIci UteZog [url=http://canadagooseoutlettoca.com/] canada goose outlet[/url] RerHug UvqIcp http://canadagooseoutlettoca.com/ JpuBot XdjYqf [url=http://canadagoosesalehome.com/] canada goose sale[/url] YinOpa DkvXsh http://canadagoosesalehome.com/ SpdWme

Anonymous said...

KlbNsh[url=http://www.bootsmise.com/]UGG ムートンブーツ[/url]TjpWxp AacDmfhttp://www.bootsmise.com/ThaHyv MvhLyi[url=http://www.bootsru-mu.com/]アグ 店舗[/url]WevVtt EleKwdhttp://www.bootsru-mu.com/ItgUmj BxnZjo[url=http://www.bootssweet.com/]ugg ブーツ 激安[/url]IqrCqu ChkPfnhttp://www.bootssweet.com/CspGnz

Anonymous said...

AitEau [url=http://www.bootsmany.com/]ugg オーストラリア[/url] BhbQbr http://www.bootsmany.com/ BkpKgh [url=http://www.bootsnewjp.com/]UGG キッズ[/url] XmvFvi http://www.bootsnewjp.com/ OfaDva [url=http://www.bootsbestjp.com/]ugg メンズ[/url] BenAiz http://www.bootsbestjp.com/ TykFbx[url=http://www.yasuibu-tsu.com/]ugg アウトレット[/url] CxwScx http://www.yasuibu-tsu.com/ PtkMdi [url=http://www.yoibu-tsu.com/]ugg[/url] QdfBzw http://www.yoibu-tsu.com/ GdbDvm [url=http://www.bootsjpsales.com/]uggブーツ[/url] QniBua http://www.bootsjpsales.com/ BgtMkx

Anonymous said...

LfmZqc [url=http://ukbootshopon.com/]cheap ugg boots[/url] DkkQhl http://ukbootshopon.com/

Anonymous said...

yvtmvv [url=http://doudounemoncler-ok.com]Doudoune Moncler pas cher[/url] incblk http://doudounemoncler-ok.com lzcfgv [url=http://canadagoosejackerok.com]Canada Goose[/url] ssbwhz http://canadagoosejackerok.com irxqrz ysjucy [url=http://parajumpersok.com]Parajumpers[/url] qbeoyr http://parajumpersok.com vokrhi [url=http://canadagoosetakkiok.com]Canada Goose Takit[/url] teguya http://canadagoosetakkiok.com fmrdri [url=http://canadagoosesalg.com]Canada Goose Jakker[/url] yxypuo http://canadagoosesalg.com xyyrkb [url=http://canadagoosejackeok.com]Canada Goose Jakke[/url] pkbdrk http://canadagoosejackeok.com svomgh

Anonymous said...

skdz [url=http://salecanadagooseoutlet.ca]Canada Goose Outlet[/url] baau http://salecanadagooseoutlet.ca rzcv [url=http://mycanadagoose-canada.com]Canada Goose Jackets[/url] mgpw http://mycanadagoose-canada.com lyfg [url=http://salecanadagoose-outlets.com]Canada Goose sale[/url] odyc http://salecanadagoose-outlets.com fbdn [url=http://salecanaadagoosejackets.ca]Canada Goose Jackets[/url] iyjj http://salecanaadagoosejackets.ca mquq

Anonymous said...

wpia [url=http://okbeatsbydrecheap.com]Beats By Dre[/url] nybw http://okbeatsbydrecheap.com esbi qebu [url=http://beatsbydresalesok.com]Cheap Beats By Dre[/url] sxil http://beatsbydresalesok.com xjjm evas [url=http://okbeatsbydreus.com]Cheap Beats By Dre[/url] qsoc http://okbeatsbydreus.com ortb lxyb [url=http://salebeatsbydreoutlet.com]Beats By Dre Outlet[/url] bdrb http://salebeatsbydreoutlet.com qydx

Unknown said...

PSV Eindhoven soccer jerseys retrenched,

Unknown said...

Baltimore Ravens Jerseys golf ball respectively Six, a couple from the fa container additionally, the champs category sphere A single sacked, However certainly the person baker element a particular tennis ball, in a overall among 46 pitch

Anonymous said...

order viagra buy generic viagra online cheap - buy viagra online from us

Anonymous said...

buy tramadol online tramadol for dogs max dose - tramadol withdrawal for dogs

Anonymous said...

buy tramadol online cheap online tramadol cod - buy cheap tramadol online no prescription

Anonymous said...

buy tramadol online tramadol 50 mg tylenol - buy tramadol 50mg online

Anonymous said...

buy tramadol online tramadol trade name generic name - buy tramadol online 100mg

Anonymous said...

buy tramadol with paypal tramadol webmd - generic brand for tramadol

Anonymous said...

buy tramadol online tramadol 50 mg mfg zydus - buy tramadol online florida

Anonymous said...

buy tramadol online what does tramadol generic look like - tramadol withdrawal wellbutrin

Anonymous said...

alprazolam drug taking 4 xanax bars - xanax s 90 3

Anonymous said...

buy tramadol online tramadol dosage adults - tramadol buy

Anonymous said...

xanax online order xanax from pakistan - 2mg xanax high dose

Anonymous said...

buy tramadol online tramadol ultram medication - generic name for tramadol

Anonymous said...

xanax online xanax 2mg bars generic - how long does 3mg xanax high last

Anonymous said...

buy cialis online canadian pharmacy cialis daily - cialis online safe

Anonymous said...

cialis buy online no prescription cialis daily packaging - buy cialis online in new zealand

Anonymous said...

buy cialis online with prescription cialis 20mg online - how to buy cialis online

Anonymous said...

buy cialis daily cialis reviews 10mg - cialis jelly review

Anonymous said...

buy tramadol no prescription overnight tramadol 319 dosage - dealing with tramadol addiction

Anonymous said...

buy tramadol buyer tramadol online - tramadol hcl usp

Anonymous said...

buy tramadol tramadol overnight shipping no prescription - tramadol buy

Anonymous said...

buy tramadol free shipping tramadol rx purchase - tramadol hcl shelf life

Anonymous said...

learn how to buy tramdadol can you order tramadol online legally - 800 mg tramadol overdose

Anonymous said...

buy tramadol usa pet meds tramadol 50mg - generic tramadol hcl 50 mg

Anonymous said...

http://buytramadolonlinecool.com/#51726 purchase tramadol online cheap - buy tramadol online cash delivery

Anonymous said...

buy tramadol online tramadol for dogs taste - tramadol 50mg 180 tablets

Anonymous said...

http://reidmoody.com/#36921 ativan generic name classification - need to buy ativan

Anonymous said...

http://staam.org/#21236 tramadol withdrawal plan - tramadol 50mg dosage adults

Anonymous said...

buy tramadol india tramadol hcl 50mg tab for dogs - generic name tramadol hcl

Anonymous said...

buy tramadol online safe place order tramadol online - cheap online tramadol cod