good buy?
bought 2-3 weeks ago at 1.22. happy to see that 3 cents dividend is coming soon .
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丰衣足食 : lagenda 2024年Q2业积史上最高（Key Financial Results
Revenue: RM245.8m (up 25% from 2Q 2023).
Net income: RM48.4m (up 47% from 2Q 2023).
Profit margin: 20% (up from 17% in 2Q 2023). The increase in margin was driven by higher revenue.
EPS: RM0.058 (up from RM0.04 in 2Q 2023).
丰衣足食 : KUALA LUMPUR (August 22): BIMB Securities said the real estate market will be strengthened in 2025 due to possible improvements in affordability due to the proposed Madani deposit initiative and related proposals in the 2025 budget.
The research agency sticks to its “overweight” recommendations for the real estate industry.
It said in a note on Thursday that we tend towards developers with strong sales histories, reputable brands, lots of land in ideal locations, and minimal cost of ownership.
As a result, it maintained its “buy” appeal for Mah Sing Group Bhd (KL: MAHSING), with a target price (TP) of RM2.07, TP of RM1.99 for Matrix Concepts Holdings Bhd (KL: MATRIX), RM1.48 for Lagenda Properties Bhd (KL: LAGENDA), and Sime Darby Property Bhd ( KL: SIMEPROP), TP is under review.
On Wednesday, the Ministry of Housing and Local Government presented the Madani Deposit Initiative, along with 32 other proposals, totaling nearly RM1 billion under the 2025 budget.
The proposed measures will provide financial aid of up to RM30,000 for first-time homebuyers and ease monthly payment commitments, particularly for young people in the bottom 40% and middle 40% income groups.
“Buyers are likely to be more confident in buying a property because they know their payments are protected and there are measures in place to prevent projects from being abandoned,” the research agency added.
The initiative will also see real estate developers shift their focus to more affordable housing projects.
It added: “We expect developers' focus may shift to building more affordable homes to capitalize on increased demand from first-time buyers.”
The research agency cited the current joint venture between Lagenda Properties and Sime Darby Property, Seed Homes Lagenda, an affordable township development project in Kaida Gurun.
Lagenda Properties is also furthering this trend by providing double storey homes at affordable prices in Mersin, Johor.
Meanwhile, financial institutions may also benefit, as more first-time buyers who are eligible for loans will expand their home loan market.
Furthermore, introducing escrow accounts will reduce the risk of loans for projects that may be abandoned, thereby reducing the possibility of bad loans.
Overall, the real estate market is expected to strengthen in 2025 due to the Madani Deposit Initiative, while developers' focus shifts, increasing affordability and the excitement of real estate market activity