I initiated the purchase of this company not too long ago last Oct which I have written here. Since then, the company has dished out a dividend of 6.2 cents and are now sitting at around $1.60.

The company announced its first set of results for FY17 yesterday and I will just take the highlight of what I see from the report.

1.) Npat for the quarter jumped up 90.1% year on year

This will be mostly the headline that everyone will see and focus on the news but it warrants a deeper look what the increase is due to.

As it is, these gains are mostly from the completed sale of their development sales in Suzhou and Songjiang. These will be lumpy in nature and will be non-repetitive, so we shouldn’t expect similar gains in future period.

2.) Australia remains a key market for …