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7th May 2023

Stock Digest - Radium Development Bhd - Unconventional Fast Moving And Net Cash High Rise Developer

Radium is a net cash (19% of market cap) high-rise property developer in KL region; backed by strong historical sales track record (80-90% take-up by 18M) focusing mostly on fast-moving property units below the RM600k price tag. Radium is valued via market-cap weighted P/E of 18.1x pegged to 3.3 sen FY24f EPS, leading to a fair value of RM0.595, with a prospective DY of 1.7-2.0%.

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