Stock Name: Gallant
Company Name: GALLANT VENTURE LTD.
DBS Vickers Securities in a Nov 14 research report says: "Gallant Venture (GALV) reported 3Q11 net loss of $0.6 million (vs $8.1 million profit in 3Q10) on top of a 30% decline in topline to $47.5 million. This was mainly due to lower recognition from land sales in this quarter ($1.4 million vs $20.6 million in 3Q10).
"Performance of its industrial parks and utilities continue to remain stable. Operational expenses were slightly high owing to higher marketing commissions and professional fees incurred, resulting in a net loss of $0.6 million in 3Q11. On the balance sheet front, net debt was fairly stable $178.7 million, even after accounting for $39 million loan repayment.
"NAV was 51 cents per share. We continue to see latent value in GALV, with potential land sales supported by the completion of Lagoi Bay Mall by 1Q12. Target price of 88 cents. MAINTAIN BUY."
Company Name: GALLANT VENTURE LTD.
| Research House: DBS Vickers | Price Call: BUY | Target Price: 0.88 |
DBS Vickers Securities in a Nov 14 research report says: "Gallant Venture (GALV) reported 3Q11 net loss of $0.6 million (vs $8.1 million profit in 3Q10) on top of a 30% decline in topline to $47.5 million. This was mainly due to lower recognition from land sales in this quarter ($1.4 million vs $20.6 million in 3Q10).
"Performance of its industrial parks and utilities continue to remain stable. Operational expenses were slightly high owing to higher marketing commissions and professional fees incurred, resulting in a net loss of $0.6 million in 3Q11. On the balance sheet front, net debt was fairly stable $178.7 million, even after accounting for $39 million loan repayment.
"NAV was 51 cents per share. We continue to see latent value in GALV, with potential land sales supported by the completion of Lagoi Bay Mall by 1Q12. Target price of 88 cents. MAINTAIN BUY."
No comments:
Post a Comment