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Currently this counter is boring in a good way. Not every property counter needs to be exciting, sometimes market comes back to steady names when speculative ones become too hot.
as of 31 December 2025, the unbilled sales of the company reached a record high of RM1.6 billion, so this should provide a strong earnings for upcoming quarter
OPR cut tailwind, two township launches as catalyst, PE 6x mispricing, dividend yield close to 5%. The structural backdrop is supportive across multiple dimensions. Not a momentum name, more of a patient compounder for property baskets.
Stock trading at only 6x forward PE, a steep discount to sector average of 13x. CGS International target price RM2.03 (highest in consensus), significant upside potential.
Sungai Petani Kedah township and Negeri Sembilan township both launching. New township launches typically see strong initial sales velocity (pent-up demand in those secondary markets), and the revenue recognition kicks in progressively over 24-36 months of construction. So we're looking at sustained earnings growth runway.
