Shares & Derivatives
Why is PropNex Ltd (SGX:OYY) Up 222% Today
By Dividend Titan  •  September 2, 2021
What you need to know about PropNex Ltd stock massive run up and why even the pandemic is not stopping Singapore's biggest property agency. I’ll start off with some facts:
  • Revenue grew 147% to S$260 million
  • Net profits rose 115% to S$34 million
  • Company paid a half yearly dividend of S$0.055 per share
  • It has no debt, flushed with cash of S$120 million
PropNex Ltd (SGX.SI) is Singapore’s largest property agency. At S$707 million market cap, this agency continued to produce solid results in its latest half yearly results. So here’s the thing. Properties aren’t traded like stocks. You can’t buy or sell your property through an electronic exchange. Not yet. Typically, an agent helps transact your properties. In exchange for an agent’s help, the agent gets a fee (or commissions) proportionate to the property’s value. The higher the property value transacted, the more fees an agent earns. Today, PropNex has more than 9,000 agents helping people buy and sell their properties....
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By Dividend Titan
I am Willie Keng and I help business owners and boutique investment firms do one thing: I build practical, effective investment processes that grow their AUM than their business can practically handle…
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