Uoa Development Bhd

$UOADEV / 5200 (UOA DEVELOPMENT BHD)
Research by CGSI

$UOADEV / 5200 (UOA DEVELOPMENT BHD)
Research by RHB

$UOADEV / 5200 (UOA DEVELOPMENT BHD)
Research by Kenanga

$UOADEV / 5200 (UOA DEVELOPMENT BHD)
Research by CGS
REDUCE – TP RM1.68

"Bamboo Hill Residences to spur sales”

■ 1H24 core net profit of RM111.6m was in line with expectations at 48-49% of our FY24F forecast and Bloomberg consensus estimate.
■ Despite yoy lower total new sales of RM263.3m in 1H24, we expect sales growth from 2H24F to be supported by the launch of Bamboo Hills Residences.
■ We reiterate Reduce and TP of RM1.68, still based on 0.7x FY24F P/BV, given the limited earnings growth prospects and elevated valuations.

Analyst:
Lucas TAN
lucas.tan@cgsi.com
CHONG Tjen-San, CFA
tjen-san.chong@cgsi.com

$UOADEV / 5200 (UOA DEVELOPMENT BHD)
Research by RHB
Neutral - TP RM2.02

"Bamboo Hills To Drive 2H24 Property Sales"

Maintain NEUTRAL and TP of MYR2.02, 8% upside with c.5% FY24F yield. UOA Development’s 2Q24 results are below estimates. 1Q24 property sales only reached MYR121m, but we expect this performance to pick up strongly in 2H, given the overwhelming response to Bamboo Hills Residences. Both Bamboo Hills and Laurel Residence are also expected to drive earnings in 2H. We make no changes to our earnings forecasts.

Analyst:
Loong Kok Wen, CFA
loong.kok.wen@rhbgroup.com

$UOADEV / 5200 (UOA DEVELOPMENT BHD)
Research by MIDF
Buy - TP RM2.06

"Better New Sales Outlook For 2HFY24"

• 1HFY24 earnings within expectations
• Earnings supported by income from investment properties
• Better new sales outlook for 2HFY24
• Earnings forecast revised upwards
• Maintain BUY with an unchanged TP of RM2.06

Analyst:
Jessica Low Jze Tieng
jessica.low@midf.com.my

$UOADEV / 5200 (UOA DEVELOPMENT BHD)
Research by Kenanga
Market Perform - TP RM1.79

"Driven by Rental Incomes"

UOADEV’s 1HFY24 results met expectations. Its 1HFY24 core net profit rose 8% as stronger rental incomes and hospitality profits more than offset lower property development profits. We maintain our forecasts and TP of RM1.79 and upgrade our call to MARKET PERFORM (from UNDERPERFORM) thanks to recent share price correction that has factored in some softness in property sales.

Analyst:
Clement Chua
clement.chua@kenanga.com.my

Continuing the list here (part 2):

$UCHITEC / 7100 (UCHI TECHNOLOGIES BERHAD) (MC: RM1.7bil) - Consistently delivered in its commitment to distribute at least 70% of net profit as dividend since 2003
$ALLIANZ / 1163 (ALLIANZ MALAYSIA BERHAD) (MC: RM 3.6bil) - Dividend policy is to maintain a minimum dividend payout ratio at 30%.
$UOADEV / 5200 (UOA DEVELOPMENT BHD) (MC: RM4.96bil) - Dividend policy of paying 30% - 50% of realised PATAMI
$SCIENTX / 4731 (SCIENTEX BERHAD) (MC: 6.2bil) - maintaining its commitment to distribute at least 30% of annual net profit
$TIMECOM / 5031 (TIME DOTCOM BERHAD) (MC: RM9.24bil) - Dividend payout policy of up to 50% of Normalised PAT

MC: Approximate Market Cap

**Note: the dividend payout is subjected to cash flow, valuation gain/loss of properties, etc. (for details please read their respective annual reports)

Top 10 Dividend Yield Companies without disposals/one off special dividends this Year!

Dividend yield is a crucial factor for many investors, providing a steady stream of passive income. Here, we present the 10 highest dividend yield stocks. To better reflect these companies' abilities to deliver consistent dividend payouts, we have manually* excluded one-off and special dividends, which could arise from asset disposals or corporate actions. Also, please remember that DY is a lagging indicator and thus may not represent a company’s future performance!

Do you invest with a focus on dividend yields? Which stocks would you choose for growing and sustainable dividends?

Let us know in the comment section below!

*We do not guarantee the information is absolutely accurate and errors may arise due to human mistakes

$MARCO / 3514 (MARCO HOLDINGS BERHAD) $UOADEV / 5200 (UOA DEVELOPMENT BHD) $APOLLO / 6432 (APOLLO FOOD HOLDINGS BERHAD) $RCECAP / 9296 (RCE CAPITAL BERHAD) $AMWAY / 6351 (AMWAY (MALAYSIA) HOLDINGS BERHAD)

Changes in Sub. S-hldr's Int (Section 138 of CA 2016) - EMPLOYEES PROVIDENT FUND BOARD ("EPF BOARD")

Changes in Sub. S-hldr's Int (Section 138 of CA 2016) - EMPLOYEES PROVIDENT FUND BOARD ("EPF BOARD")

$UOADEV / 5200 (UOA DEVELOPMENT BHD)
Research by MIDF
Buy – TP RM2.06

“Visit to Bamboo Hills"

Upgrade to BUY with a revised TP of RM2.06. Post visit, we maintain our earnings forecast for FY24F/25F/26F. We revise our TP for UOA Development to RM2.06 from RM1.93 as we narrow our RNAV discount to 25% from 30% in view of the better new sales prospect. We upgrade UOA Development to BUY from NEUTRAL as we see better outlook for UOA Development following pick up in project launches. Earnings from its investment properties are expected to remain stable going forward mainly due to recovery in hospitality and retail industries. Besides, dividend yield of UOA Development is attractive at 5.3%.

Analyst:
Jessica Low Jze Tieng
jessica.low@midf.com.my

Changes in Sub. S-hldr's Int (Section 138 of CA 2016) - EMPLOYEES PROVIDENT FUND BOARD ("EPF BOARD")

Changes in Sub. S-hldr's Int (Section 138 of CA 2016) - EMPLOYEES PROVIDENT FUND BOARD ("EPF BOARD")

Changes in Sub. S-hldr's Int (Section 138 of CA 2016) - EMPLOYEES PROVIDENT FUND BOARD ("EPF BOARD")

Changes in Sub. S-hldr's Int (Section 138 of CA 2016) - EMPLOYEES PROVIDENT FUND BOARD ("EPF BOARD")

DIVIDEND REINVESTMENT SCHEME THAT PROVIDES THE SHAREHOLDERS OF UOA DEVELOPMENT THE OPTION TO ELECT TO REINVEST THEIR CASH DIVIDEND IN NEW ORDINARY SHARES IN UOA DEVELOPMENT ("DRS")

Changes in Sub. S-hldr's Int (Section 138 of CA 2016) - EMPLOYEES PROVIDENT FUND BOARD ("EPF BOARD")

Changes in Sub. S-hldr's Int (Section 138 of CA 2016) - EMPLOYEES PROVIDENT FUND BOARD ("EPF BOARD")

Changes in Sub. S-hldr's Int (Section 138 of CA 2016) - EMPLOYEES PROVIDENT FUND BOARD ("EPF BOARD")

$UOADEV / 5200 (UOA DEVELOPMENT BHD)
Research by Kenanga
Underperform - TP RM1.79

"Held Up by Strong Rental Incomes"

UOADEV’s 1QFY24 results met expectations. Its 1QFY24 core net profit rose 8% as stronger rental incomes and hospitality profits
more offset lower property development profits. We maintain our forecasts and TP of RM1.79 but downgrade our call to UNDERPERFORM from MARKET PERFORM after the run-up in its share price.

Analyst:
Clement Chua
clement.chua@kenanga.com.my

UOADEV - Notice of Book Closure

Final Dividend (with Dividend Re-Investment Plan)

NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : OTHER ISSUE OF SECURITIESUOA DEVELOPMENT BHD ("UOA DEVELOPMENT" OR THE "COMPANY")

DIVIDEND REINVESTMENT SCHEME THAT PROVIDES THE SHAREHOLDERS OF UOA DEVELOPMENT THE OPTION TO ELECT TO REINVEST THEIR CASH DIVIDEND IN NEW ORDINARY SHARES IN UOA DEVELOPMENT ("DRS")

NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : OTHER ISSUE OF SECURITIESUOA DEVELOPMENT BHD ("UOA DEVELOPMENT" OR THE "COMPANY")

DIVIDEND REINVESTMENT SCHEME THAT PROVIDES THE SHAREHOLDERS OF UOA DEVELOPMENT THE OPTION TO ELECT TO REINVEST THEIR CASH DIVIDEND IN NEW ORDINARY SHARES IN UOA DEVELOPMENT ("DRS")

Changes in Sub. S-hldr's Int (Section 138 of CA 2016) - EMPLOYEES PROVIDENT FUND BOARD ("EPF BOARD")

NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : OTHER ISSUE OF SECURITIESUOA DEVELOPMENT BHD ("UOA DEVELOPMENT" OR THE "COMPANY")

DIVIDEND REINVESTMENT SCHEME THAT PROVIDES THE SHAREHOLDERS OF UOA DEVELOPMENT THE OPTION TO ELECT TO REINVEST THEIR CASH DIVIDEND IN NEW ORDINARY SHARES IN UOA DEVELOPMENT ("DRS")

$UOADEV / 5200 (UOA DEVELOPMENT BHD)
Research by RHB
Neutral – TP RM2.02

“Strong Bookings For Bamboo Hills Residences"

Maintain NEUTRAL, new TP of MYR2.02 from MYR1.86, 1% upside with 5% FY24F yield. UOA Development’s 1Q24 results fell below estimates. Although 1Q24 property sales only amounted to MYR121m, we expect this to improve in 2H, given the overwhelming response to Bamboo Hills Residences. Meanwhile, its earnings will likely pick up, with the completion of Laurel Residence by the end of the year. We raise our TP (based on a 35% discount to RNAV, from 40%) to be in line with the overall sector re-rating.

Analyst:
Loong Kok Wen, CFA
loong.kok.wen@rhbgroup.com

$UOADEV / 5200 (UOA DEVELOPMENT BHD)
Research by Kenanga
Underperform – TP RM1.79

“Held Up by Strong Rental Incomes"

UOADEV’s 1QFY24 results met expectations. Its 1QFY24 core net profit rose 8% as stronger rental incomes and hospitality profits more offset lower property development profits. We maintain our forecasts and TP of RM1.79 but downgrade our call to UNDERPERFORM from MARKET PERFORM after the run-up in its share price.

Analyst:
Clement Chua
clement.chua@kenanga.com.my

$UOADEV / 5200 (UOA DEVELOPMENT BHD)
Research by MIDF
Neutral – TP RM1.93

“Higher Earnings from Investment Properties"

• 1QFY24 earnings within expectations
• Higher earnings from investment properties
• 1QFY24 new sales at RM120.9m
• Earnings forecast maintained
• Maintain NEUTRAL with a revised TP of RM1.93

Analyst:
Jessica Low Jze Tieng
jessica.low@midf.com.my