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It’s indeed a good buy at 1.14 after knee jerk reaction from the QR. 7+% DY is still much better than the banks’ pathetic FD rates. In the absence of deferred dividends from FY25 onwards, the vital Aussie hotels biz are in fact on track route to recovery from the pandemic. It is growing healthy and steadily since last FY.
the coming quarter result can be a gauge to judge, if it can provide 35mil of income, then it is worth hoping the next dividend announcement of 4cent. anyway, i am in the opinion that 2.9cent is the normal range without the deferred income. means we might only be able to look at 6.9cent or worst for 30 Jun 2025 annual cycle.
even though australia's interest is cut for the first time this year, it might not be able to overcome the AUD depreciation against MYR, unless we see some rebound of it for the coming half year or so. this one i am not sure, need to calculate in details on the loan interest versus the revenue from Australia.
