♦ 50% of revenue from overseas in 5 years
Qian Jianrong6.16"Our growth momentum in the Australia property market reflects our execution abilities as we undertake more international projects to diversify our revenue base. We expect revenue contribution from overseas projects to be at least 50% in the next five years."

-Qian Jianrong (photo), executive chairman and CEO of Chiwayland International.

AMBITIOUS AND HUNGRY -- that's what SGX mainboard-listed Chiwayland International is.

It reported FY2015 revenue only from its property projects in China (RMB 3.6 billion) but from this year, Chiwayland will have wider international revenue streams, starting with Australia.


And it has set its sights on projects in the US, Western Europe and Asia -- which could represent significant revenue generators, and it has to seek shareholders'approval for the moves in an upcoming EGM.

For this year, it will recognise revenue on completion of two Australian projects:

» Vivir, which comprises of 54 residential units and 1 commercial unit, in Brisbane;

» Uptown, which comprises of 220 residential units, in Roseville, Sydney.

Chiwayland has four other projects in Sydney, which consists of residential and commercial units.

The Group focuses on delivering a full suite of services ranging from real estate investment and development, township design and planning, project management, marketing and sales, building maintenance as well as investment properties management.

Spreading its wings further afield, Chiwayland has made its maiden foray into the U.S. with a mixed development project in Los Angeles, California – Urban Commons, LLC  -- as announced on 23 March 2016.

This project is expected to include retail, hotel and residential units.

♦ Share buyback
Stock price  6.5 cents
52-week range 4.1 – 11.4 cents
PE (ttm) 5.54
Market cap S$43.3 million
Shares outstanding 666.9 million
Dividend yield
(ttm)
-
Net asset value/share 154.3 RMB cents
Source: Bloomberg
In addition, Chiwayland has proposed a share buyback mandate to purchase up to 10% of its shares as part of its strategy to exercise greater flexibility over its share capital structure and to bolster returns for shareholders.    

The Group’s largest shareholder with a 74.75% stake is Mr. Qian Jianrong, the Executive Chairman and CEO.

He said: “At the current share price and in view of our growth prospects, we believe that we are undervalued. The share buyback allows us to capture value for all our shareholders as well as address the minimum trading price requirement. We are excited for the internationalisation of our business and hope that shareholders will endorse our vision.” 

The proposed international expansion and share buyback mandate is subject to approval by shareholders at an extraordinary general meeting to be convened in August 2016.


FYI: To further understand Chiwayland's business, read minutes of its recent AGM here.


Share Prices

Counter NameLastChange
AEM Holdings2.1700.030
AusGroup0.044-0.001
Avi-Tech Electronics0.405-
Best World Int.1.360-
CEI0.980-0.030
China Sunsine0.4650.005
CNMC GoldMine0.2500.005
CSE Global0.560-
Eagle HTrust USD0.520-0.010
Food Empire0.7300.010
Golden Energy0.169-
GSS Energy0.102-0.002
ISDN Holdings0.2050.005
ISOTeam0.210-0.010
JB Foods0.6250.020
KSH Holdings0.400-
Miyoshi0.027-0.001
Moya Asia0.080-0.001
Nordic Group0.3200.005
Oxley Holdings0.345-
Procurri0.3350.010
REX International0.2050.005
Riverstone1.020-0.020
Roxy-Pacific0.370-
Sing Holdings0.4150.015
SingMedical0.3050.005
Straco Corp.0.5700.005
Sunningdale Tech1.2700.010
Sunpower Group0.555-0.005
The Trendlines0.1290.008
Tiong Seng0.198-0.001
Uni-Asia Group0.7000.005
Yangzijiang Shipbldg1.000-0.010

NextInsight RSS

rss_2 NextInsight - Latest News

Online Now

We have 697 guests and one member online

  • admin2