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Latest Forum Topics / APAC Realty    Last:0.58 --  Post Reply
APAC Realty
like2learn
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28-Mar-2019 14:34     
 
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 Alert Admin 		Hi josephyeo, just to clarify your post on " 24-Mar-2019 14:00"   uses NTA but in some others u use NAV.. thx for attaching the writeup. smiley

I understand, sometimes, type too fast or while communting.

all the best to your apac i think extremely likely to huat if u keep long  term ! yes    smiley
 
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josephyeo
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28-Mar-2019 10:14     
 
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 Alert Admin 		Hi like2learn, in my post the term used should be nav n not nta. Below is a write up
on the difference between nta n nav:
 
Net Tangible Assets (NTA) is book value less all the intangible assets that the company has on its balance sheet, such as goodwill.
NTA is a measure of the accounting value of the &lsquo hard&rsquo assets in a business.
Net Asset Value is a term mainly used in the sphere of listed investment companies and is effectively an NTA based on current market values of the
underlying investments, rather than accounting values.

By the way, i am no expert in accounting or accounting terms n may not give you the right answer. Pls do your own dyodd.

 







 


like2learn      ( Date: 27-Mar-2019 19:35) Posted:

Hi josephyeo,

Thanks very much for taking the time to compile and selfless sharing of the comparsion  b/n Apac & Propnex.smiley yes  

Yes, they are both of investible qualities and also v cost efficient(no need for massive salaried headcount or rental/shop space).
 
I think the ERA franchise rights is subjected to regular renewal, and a part of the franchise rights may be in the form of intangible assests. If net of intangible assets, what wld the NAV be ?  Because in one of your posts u put Apac NAV as 40.x cents and in another NTA as 40.x cents. I always thought NAV and NTA is different(btw, i am those self-taught) ??    Is there any plans for Apac to reduce its debt ? It is so cashflow generating and i don' t see any point in it paying interest for nothing.

I know they can be derived from the financial statements, but I am tied up  studying my new position in MIT right now. sad

I took an interest in APAC/Realty and even HRnetgrp earlier but no time to do so many things leh.  crying

Other than forex issues and custody/admin charges, for this kind of 6-7% yield, the other alterative is the China Big 4 banks listed in HKEx - won' t die one.  cheeky
 

josephyeo      ( Date: 27-Mar-2019 09:38) Posted:

Propnex n APAC Realty are both fundamentally good companies. Both leaders in the
property/realty market. However, i decided to put money into Apac over Propnex for the
following ressons:
1. higher dividend (Apac - 4.5 cts, Propnex - 3.5 cts)
2. dividend yield (Apac - 7.6%, Propnex - 6.0% )
3. higher profits (Apac - 24.2 mil, Propnex - 19.4 mil)
4. lower p/e
See quote for other details.

Just sharing ... dyod
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like2learn
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27-Mar-2019 19:35     
 
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 Alert Admin 		Hi josephyeo,

Thanks very much for taking the time to compile and selfless sharing of the comparsion  b/n Apac & Propnex.smiley yes  

Yes, they are both of investible qualities and also v cost efficient(no need for massive salaried headcount or rental/shop space).
 
I think the ERA franchise rights is subjected to regular renewal, and a part of the franchise rights may be in the form of intangible assests. If net of intangible assets, what wld the NAV be ?  Because in one of your posts u put Apac NAV as 40.x cents and in another NTA as 40.x cents. I always thought NAV and NTA is different(btw, i am those self-taught) ??    Is there any plans for Apac to reduce its debt ? It is so cashflow generating and i don' t see any point in it paying interest for nothing.

I know they can be derived from the financial statements, but I am tied up  studying my new position in MIT right now. sad

I took an interest in APAC/Realty and even HRnetgrp earlier but no time to do so many things leh.  crying

Other than forex issues and custody/admin charges, for this kind of 6-7% yield, the other alterative is the China Big 4 banks listed in HKEx - won' t die one.  cheeky
 

josephyeo      ( Date: 27-Mar-2019 09:38) Posted:

Propnex n APAC Realty are both fundamentally good companies. Both leaders in the
property/realty market. However, i decided to put money into Apac over Propnex for the
following ressons:
1. higher dividend (Apac - 4.5 cts, Propnex - 3.5 cts)
2. dividend yield (Apac - 7.6%, Propnex - 6.0% )
3. higher profits (Apac - 24.2 mil, Propnex - 19.4 mil)
4. lower p/e
See quote for other details.

Just sharing ... dyodd

josephyeo      ( Date: 26-Mar-2019 10:49) Posted:

Hi like2learn ... thank you for your views n inputs. It' s appreciated.

I did take a look at both Propnex n Apac Realty before taking the
decision to put my money on Apac Realty. Both are fundamentally
good companies. In the end i opted for Apac Realty bcoz of its
higher dividend yield, higher nav, lower p/e n higher profits. Further, the
share price has dropped from a high of $1.24 to current 59 cts ... a 50% drop.
Propnex has some pluses ... no debt n higher cash level.

Pls note ... above are just my views n i could be wrong. Dyodd.

See below for some datas:
 
  propnex apac realty
dividend 3.5 cts 4.5 cts
dividend yield 6.0 7.6
price earning ratio 11.2 8.6
nav 18.1 40.1
net profit 19.4 mil 24.2 mil
revenue 431.5 mil 419.9 mil
number of shares 370 mil 355 mil
capitalisation 216.4 mil 209.6 mil
cash 75.6 mil 43.0 mil
debt nil 57.5 mil
52 weeks high 79 cts 124 cts
52 weeks low 45.5 cts 44.0 cts
price at time of post 58.5 cts 59.0 cts

 


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josephyeo
Elite
27-Mar-2019 18:12     
 
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 Alert Admin 		Apac Realty IPO 28 Sept 2017 @66cts.

Just for info
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josephyeo
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27-Mar-2019 09:38     
 
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 Alert Admin 		Propnex n APAC Realty are both fundamentally good companies. Both leaders in the
property/realty market. However, i decided to put money into Apac over Propnex for the
following ressons:
1. higher dividend (Apac - 4.5 cts, Propnex - 3.5 cts)
2. dividend yield (Apac - 7.6%, Propnex - 6.0% )
3. higher profits (Apac - 24.2 mil, Propnex - 19.4 mil)
4. lower p/e
See quote for other details.

Just sharing ... dyodd

josephyeo      ( Date: 26-Mar-2019 10:49) Posted:

Hi like2learn ... thank you for your views n inputs. It' s appreciated.

I did take a look at both Propnex n Apac Realty before taking the
decision to put my money on Apac Realty. Both are fundamentally
good companies. In the end i opted for Apac Realty bcoz of its
higher dividend yield, higher nav, lower p/e n higher profits. Further, the
share price has dropped from a high of $1.24 to current 59 cts ... a 50% drop.
Propnex has some pluses ... no debt n higher cash level.

Pls note ... above are just my views n i could be wrong. Dyodd.

See below for some datas:
 
  propnex apac realty
dividend 3.5 cts 4.5 cts
dividend yield 6.0 7.6
price earning ratio 11.2 8.6
nav 18.1 40.1
net profit 19.4 mil 24.2 mil
revenue 431.5 mil 419.9 mil
number of shares 370 mil 355 mil
capitalisation 216.4 mil 209.6 mil
cash 75.6 mil 43.0 mil
debt nil 57.5 mil
52 weeks high 79 cts 124 cts
52 weeks low 45.5 cts 44.0 cts
price at time of post 58.5 cts 59.0 cts

 

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josephyeo
Elite
26-Mar-2019 13:10     
 
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 Alert Admin 		APAC Realty Limited is one of the leading player in the real estate brokerage industry in Asia. APAC Realty
operates three main business segments ? the real estate brokerage services franchise agreements and training,
valuation and other ancillary services.APAC Realty holds the exclusive ERA regional master franchise rights over
17 countries in Asia Pacific, acquired from Realogy Group LLC. The Group also holds the master franchise
rights for Singapore for Coldwell Banker
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josephyeo
Elite
26-Mar-2019 11:15     
 
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 Alert Admin 		P/e or price earning ratio is :

Current price divided by its earning per share.


 

alexchew      ( Date: 26-Mar-2019 11:01) Posted:

lower PE compared to propnex, is it because of use of debt for APCA?

josephyeo      ( Date: 24-Mar-2019 14:00) Posted:

Share some figures on Apac Realty:

1. p/e - 9 X
2. dividends - 4.5 cts (full year)
3. dividend yield - 7.3% on price of 61.5 cts.
4. nta - 40.3 cts
5. price 52 weeks - high $1.24, low $0.44, current - $0.61.5
6. cash - $43 mil
7. debt - $57.5
8. number of shares - 355 mil
9. profits - $24.2 mil
10. capitalisation - $218.4 mil
11. revenue - $419.9
Am vested bcoz of low p/e and high dividend yield. Company has dividend policy
of 50% or more for distribution. Will share more details if time permit.

Not a buy/sell call. Dyodd
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alexchew
Master
26-Mar-2019 11:01     
 
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 Alert Admin 		lower PE compared to propnex, is it because of use of debt for APCA?

josephyeo      ( Date: 24-Mar-2019 14:00) Posted:

Share some figures on Apac Realty:

1. p/e - 9 X
2. dividends - 4.5 cts (full year)
3. dividend yield - 7.3% on price of 61.5 cts.
4. nta - 40.3 cts
5. price 52 weeks - high $1.24, low $0.44, current - $0.61.5
6. cash - $43 mil
7. debt - $57.5
8. number of shares - 355 mil
9. profits - $24.2 mil
10. capitalisation - $218.4 mil
11. revenue - $419.9
Am vested bcoz of low p/e and high dividend yield. Company has dividend policy
of 50% or more for distribution. Will share more details if time permit.

Not a buy/sell call. Dyodd
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josephyeo
Elite
26-Mar-2019 10:49     
 
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 Alert Admin 		Hi like2learn ... thank you for your views n inputs. It' s appreciated.

I did take a look at both Propnex n Apac Realty before taking the
decision to put my money on Apac Realty. Both are fundamentally
good companies. In the end i opted for Apac Realty bcoz of its
higher dividend yield, higher nav, lower p/e n higher profits. Further, the
share price has dropped from a high of $1.24 to current 59 cts ... a 50% drop.
Propnex has some pluses ... no debt n higher cash level.

Pls note ... above are just my views n i could be wrong. Dyodd.

See below for some datas:
 
  propnex apac realty
dividend 3.5 cts 4.5 cts
dividend yield 6.0 7.6
price earning ratio 11.2 8.6
nav 18.1 40.1
net profit 19.4 mil 24.2 mil
revenue 431.5 mil 419.9 mil
number of shares 370 mil 355 mil
capitalisation 216.4 mil 209.6 mil
cash 75.6 mil 43.0 mil
debt nil 57.5 mil
52 weeks high 79 cts 124 cts
52 weeks low 45.5 cts 44.0 cts
price at time of post 58.5 cts 59.0 cts

 
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like2learn
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26-Mar-2019 00:29     
 
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 Alert Admin 		I agree with your rationale and view of the current property mkt. yes

But APAC has 99M of intangible assets which forms a large portion of its assets. As such, there might not be sufficient margin of safety based on the current share price. The earnings visiblity is also uncertain given the likelihood of an election this year. If the govt adjusts some of its policies based upon election results, it may further negatively impact the property sentiments. Of course, if the govt repeats another solid victory, then its likely huat all the way.    smiley

But why not also consider propnex ? Its tangible assets are not as much and I think the boss ocassionally buys its shares(which may signal it' s  undervalued).    cheeky

*not vested in both* 
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josephyeo
Elite
25-Mar-2019 23:10     
 
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 Alert Admin 		During the oil crisis in 2014 shares of OCBC came all the way down to 7plus dollars.
2 to 3 years later oil stabilised n OCBC shot back to $14, almost a 100% appreciation.

Today, sentiments in the property market have been very bad since the cooling measures
in July 2018. Shares of almost all property stocks have been down.

The property market is cyclical in nature with each cycle lasting many years. At some
point in the future sentiments will change to positive. At that time shares of property stocks
are likely to shot up. When, nobody know for sure. But i assume there are similiarities in
situation like OCBC during the oil crisis.

This is one of the reasons I am into APAC Realty. To buy when sentiments are bad n to
wait till sentiments change to positive. Another reason is the high yield the company offer.
Its full year dividend of 4.5 cts give a dividend yield of 7.6 % based on today' s closing price
of 59 cts. Further, company has a dividend policy of distributing 50% or more of it' s earning.

I do not expect good result in the coming quarters or year n am expected to go long hold
on the stock. In the mean time I am content w the yield of 7% plus.

Just sharing my thoughts. Dyodd
 
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josephyeo
Elite
25-Mar-2019 10:16     
 
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 Alert Admin 		Below are 2 research reports on Apac Realty.

https://research.sginvestors.io/2019/03/apac-realty-dbs-group-research-2019-03-01.html

https://research.sginvestors.io/2019/03/apac-realty-rhb-securities-research-2019-03-01.html

Just sharing ... dyodd
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josephyeo
Elite
24-Mar-2019 14:00     
 
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 Alert Admin 		Share some figures on Apac Realty:

1. p/e - 9 X
2. dividends - 4.5 cts (full year)
3. dividend yield - 7.3% on price of 61.5 cts.
4. nta - 40.3 cts
5. price 52 weeks - high $1.24, low $0.44, current - $0.61.5
6. cash - $43 mil
7. debt - $57.5
8. number of shares - 355 mil
9. profits - $24.2 mil
10. capitalisation - $218.4 mil
11. revenue - $419.9
Am vested bcoz of low p/e and high dividend yield. Company has dividend policy
of 50% or more for distribution. Will share more details if time permit.

Not a buy/sell call. Dyodd
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