I am quite happy w Apac results. The 2Q result was better than I expected. I had expected a profit of $2 plus millions but it turn out to be $3 plus. See figure below:
As seen from above, against 1Q the result has improved by 87.2% though it's down 56.8% against last year.
The profit against last year was expected as the cooling measures were introduced in July last year. Since then there was a downward trend in profits for the following 3 quarters. If the 2Q trend profits can be maintained or improved, it will be a fairly good year for Apac given the negative effects of the cooling.
Above is just my views n i could be wrong.
Am vested and am looking at the company in terms of 2 years or longer. Am also looking forward to contributions from their overseas investments in Indonesia, Thailand, Cambodia, Hainan Island n 4 other countries.
A quote from the company's press release on 5 Aug ' 19:
Quote:
" ERA Indonesia is a property brokerage pioneer in Indonesia with a network of more than6,500 agents across its 109 offices, and has an estimated market share of around 10%of the secondary property market in Indonesia. The brokerage added 17 member brokers in the year-to-date, and has been appointed as coordinator for 6 residential projects, namely, South Quarter, Branz @ Mega Kuningan, 57 Promenade, 1 Park Homes, 1 Park Hamilton and Vasanta Innopark.
Following the conclusion of Indonesia&rsquo s presidential elections, the government implemented measures to stimulate the property sector and its multiplier effect on related sectors such as cement, electronics and furniture which will contribute to the country&rsquo s overall economic growth.2 A series of tax incentives for luxury properties, premium condominiums, and mass
market housing have been announced, complementing steps taken by Indonesia's central bank to relax the loan-to-value ( LTV ) and financing to-value ( FTV ) ratios for mortgage transactions effective August 2018. Furthermore, Indonesia's government has earmarked US$412 billion to rebuild the country over the next five years, from 2020 to 2024.3 With 60% of this spend allocated to transportation infrastructure, industry watchers expect the country to benefit from enhanced connectivity and higher economic growth. "
A quote from the company' s press release on 5 Aug' 19:
Quote:
" ERA Thailand is the largest home selling network in Thailand with a sales force of more than 400 real estate agents. Backed by a strong reputation and track record with leading developers, ERA Thailand has secured marketing rights for 18 projects with 10,697 residential units in total. Located across the country, these projects include The Line Wongsawang, Artisan Ratchada, The Regent Orchid Talad Plu, Wyndham Garden Irin, and Chamonix."
