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HIAP HOE REPORTS 221% SURGE IN NET PROFIT TO $9.9M (11 Aug 09)

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  • Revenue: +326.7% (2Q09), +205.0% (1H09)
  • Net profit: +220.7% (2Q09), +129.1% (1H09)
  • Outlook: The Group launched two residential projects this year, namely The Beverly and Signature at Lewis, and has successfully sold more than 50% of the units launched to date.
  • Proceeds from the sale of these units will be progressively recognized from commencement of their construction.
  • Despite the early signs of recovery, the Group remains cautious about its outlook.
  • Given the macro uncertainties that lie ahead, the Group will continue to take a prudent approach with regard to its remaining residential developments, and will monitor the market closely for an opportune time to launch these projects.
  • The Group is currently in the process of selecting an international group to manage its hotel jointventure project with SuperBowl Holdings Limited, which will be built on its Balestier Road/Ah Hood Road land parcel.
  • The project is slated for completion by 2014.
FINANCIAL RECORDS

Revenue (SGD '000)

FY 1Q 2Q 3Q 4Q Total
2009 15,388 31,907
2008 8,032 7,477 4,162 10,077 29,729
2007 27,551 28,031 24,042 12,597 92,220

FY 1H 2H Total
2006 15,389 35,177 50,566
2005 15,644 7,119 22,763
2004 21,481 16,698 38,179
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Earnings (SGD '000)

FY 1Q 2Q 3Q 4Q Total
2009 6,895 9,924
2008 4,247 3,094 397 552 8,291
2007 5,940 2,104 6,914 4,495 19,451

FY 1H 2H Total
2006 4,600 7,988 12,588
2005 (394) (2,202) (2,596)
2004 365 746 1,111
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Dividends

FY Interim Final Special (SGD)
2009 NA
2008 NA 0.00250 NA
2007 NA 0.01000 NA
2006 NA 0.01000 NA
2005 NA 0.00125 NA
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Bonus / Rights / Stock Split

Date Type Details
2007-01-22 Share Consolidation SHCONSO OFFER OF 1 FOR 5
2005-07-21 Rights OFFER OF 1 FOR 4 @ $0.005
2004-05-24 Share Consolidation SHCONSO 1:5
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Share Data (SGD)

NAV = $0.4158
EPS = $0.0445 (6M FY09)
No of Shares = 378,193,363
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ANALYSTS' TARGET PRICES

Broker Recommendation Target Price Date
NA



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