My prediction of upward movement of the stock market as mentioned in my previous post is yet to happen.
Reviewing Philippine Stock Market data for last weeks trading, I discovered that there are a lot of bargain stocks. Among the stocks that caught my attention was Vista Land & Lifescape, Inc. (VLL) which closed today at P1.16, is trading at a discount of almost 70% (BV is P3.76)
I will post a buy to this stocks and will hold it for long-term.
Although, the company:
- Posted net income is lower than the previous period by P500M
- Involvement of its perceived owner Sen. Villar to the Budget brouhaha
- Real property sector growth for the near future is seen to slow down due to the global financial crisis re: the OFW market
The bright prospect overshadowed the perceived downside:
- Trading at 70% discount
- Positive Retained Earning - P4.5B
- Posted a net income for the semester - P1.5B
- Diversified real property products, market and location
- Low D/E ratio of 32%
- Paying dividend (latest was April 2008 @ P0.067/share)
- Supports its stock price thru buy-backs
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