EAST WEST PROPERTIES PLC (EAST.N0000)

East West Properties PLC is engaged in renting warehouses and yard for commercial purposes. The Company's core business is in real estate development and generating rental income from a commercial warehousing complex in Peliyagoda. The Company's segments include rental, leisure, construction, trading and others. The rental segment includes warehouses, yard, apartments and infrastructure rental. The leisure segment includes hotel reservation, tour and transport. The construction segment includes construction of Weligama Bay. The trading segment includes selling and distribution of transmission equipment and machinery items. The other segment includes concrete sales. The Company also offers brands for studio and transmission related equipment and provides turnkey solutions for radio and television infrastructure requirements. It owns approximately five acres of land in Peliyagoda of which over two acres are developed into approximately 75,000 square feet of warehouse spaces.

another dividend on the way?

As per financials Final cash settlement for the disposal received. Cash dividend is expected. Sorry ly i have already sold at huge loss

Then you can buy again @ a lesser price. Why so worries?

@Invest2018 wrote:Then you can buy again @ a lesser price. Why so worries?

Buying again and sell again loss????

Yes.

@Ekanayake90 wrote:EPS last quarter 0.24 (Mainly Interest income from the cash pile they have)
Annualized EPS could be around 1.00 . They might declare a dividend.

“The big question is what will be the new investment of Mr Wijesuriya this time”  

They are in a position to declare 2/share dividend without touching the hotel sale investment

Buy @8 , own 12/share worth of FD

Here we go
Interesting times ahead

Don’t be surprised if this go passes its net asset
Jst a matter of time

Interesting. Let’s see

Anytime this will fly. Still owners will put artificial selling orders.

This was trying to fly for last one year. But nothing happened. After the dividend payment price came down and from that day stand still. The truth is owners doesn’t want to do anything. Because they got enough money from dividend. Now they are buying shares at very low price using dividend money. Truth is that

@Invest2018 wrote:This was trying to fly for last one year. But nothing happened. After the dividend payment price came down and from that day stand still. The truth is owners doesn’t want to do anything. Because they  got enough money from dividend. Now they are buying shares at very low price using dividend money. Truth is that

Correct, Leaving aside all the past dramas and on EAST, presently EAST is on a much better financial situation after the Marriot sale.

So what is your thoughts & forecast. Will the company declare another dividend at least ?

@Invest2018 wrote:So what is your thoughts & forecast. Will the company declare another dividend at least ?

I dont think we can expect a similar dividend like earlier, end of the day they need the money for a new investment. According to sources they have made some equity investments and received dividends.

They will do 2-2.5 earnings for the currant year if we deduct the proceed from Marriot sale (interest+divident+rental income).

We knows that the owners are the biggest players in this share & they are collecting.If they declares RS 2 @ the CMP = 25%.

I believe this will provide good trading opportunities since it was one of the favorite counters of the speculators. More news/announcements to come , sound financials ..ect

Interesting times ahead

If you know that company is going to declare another dividend then it’s ok. If not really sorry

Any comments from Teller...?

Actually my view is independent , in case More businesses turns to Port city side, EAst may get a competition which can not be estimated now. Also more businesses are planning away from the capital also the issue. If im correct they have Peliyagoda warehouse which does really good. But due to expansion sea land, hambanthota,maththala effect to be considered . Based on the financial report it has more positives but difficult to give a target

@teller I think their paliyagoda warehouse is a crap. They can’t generate even operational income out of it. That’s why their EBITDA is negetive. Only positive thing is they have 1.7 Bn cash & 99 leased property which not revalued.

@invest2018, actually i dont have latest updates. Lets ask some members to update.

Investment Property
(a) East West Properties PLC
Investment Properties of the Company consists of Warehouse No.I, Warehouse No.II and Warehouse No III. The Company has adopted the cost model to value the Investment Properties as required by “LKAS 40 –Investment Property”. The above investment properties details are as follows.
Location
Warehouse No.I ‐81/11, 3rd Lane, New Nuge Road, Peliyagoda
Warehouse No.I
‐ Mezzanine Floor 81/11, 3rd Lane Peliyagoda
Warehouse No.II ‐81/12, 3rdLane, New Nuge Road Peliyagoda
Warehouse No.III ‐81/12, 3rdLane, New Nuge Road Peliyagoda
Extent 27,342 sq.ft.
2,390 sq.ft.
12,967 sq.ft.
34,863 sq.ft.
Cost (Rs.) 13,389,223/‐
7,162,230/‐
21,841,098/‐
63,231,316/‐
The carrying amount of above Investment Properties as at 31st December 2019 amounting to Rs.60,432,599/‐
The Investment Properties had been revalued by same independent valuer as at 31.03.2015. The Company has classified above properties as Investment Properties and revaluation surplus which is related to investment properties has not been incorporated to the books of accounts.

Leasehold Property ‐ Company
640 sqft
640 sqft
2,957,228/‐
8,382,929/‐
Leasehold Land includes leasehold rights to land owned by Urban Development Authority situated at 3rdLane, New Nuge Road, Peliyagoda which is on a 99 year lease. Leasehold Land amortized over their remaining period of lease.
The Company recognized Leasehold Property at cost and according to the last valuation done by Messers. Haleem Ghouse SCV, LIV.B.Com, ATM, PHF, MPVP Corporate & Registered Valuer as at 31.03.2015, the fair value of the property is Rs.515,677,225/‐

True nav was not shown in balnance sheet. Many aseets pending revaluation. Auditor should be summoned to SLAASMB

Refer ASPH 2018 report. Similar scenario,after the revaluation NAV increased to 800RS from 90RS.

Difficult to understand why they are not taking revaluation gain in to books. In 2015 it was 500 mn. By now it whould have crossed 1 Bn. Real value of the assets not showing. May be they want to collect everything @ a lesser price from other shareholders.