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don't you feel its dividend is a bit low for its not too high cash requirement since most of its property development business is not going to require additional substantial cash outlay. Unless the management fears the construction can really go very bad, should the management distribute more, especially compared with other listed construction peers?
and I don't feel good about its general construction business. substantially higher(100%) revenue from its general construction business in 2011, but substantially lower profit (30%) compared with 2010.
for PE, if we minus its profit contribution from property development, its PE is well in the range of local construction peers.
and I don't feel good about its general construction business. substantially higher(100%) revenue from its general construction business in 2011, but substantially lower profit (30%) compared with 2010.
for PE, if we minus its profit contribution from property development, its PE is well in the range of local construction peers.