In land scarce Singapore, real estate prices have been soaring sky high ever since Covid-19 struck last year. $PROPNEX LIMITED(OYY.SI)$ plays a crucial role in helping Singaporeans to find their dream homes.
Propnex is the largest Real Estate Agency in Singapore with 10000 sales agents and counting. Its dominant position enable it to capture the lion share of the property market here.
Propnex Revenue doubled to SGD234.4 million with strong cash position of SGD123.7 million. Its Net Profit After Tax more than doubled to SGD15.5 million in 3rd Quarter 2021.
Propnex Revenue for the 3rd quarter 2021 was mainly driven by higher commission from agency services of SGD67.5 million and from project marketing services of SGD48.9 million.
Propnex is also a company with a good heart by setting up the Propnex Real Estate Persons Chapter which will allow its agents to voice their opinions and look after their welfare. We know that good employees will spur Propnex to greater growth and success.
The good news is that Propnex has been paying consistent dividends over the years. According to their management, Propnex aims to pay 75% to 80% of its FY2021 as dividends to shareholders. Its current dividend yield is around 5%.
With such strong earning results and a great management team that cares for its employees, Propnex can only grow exponentially now and into the future.
That is why I am most bullish on Propnex. Go Long, Go Strong, Go Propnex! That's my maxim.
@小虎活动 SG Stocks
@小虎AV SG Stocks
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