Time is really bad for KepCorp.
Property division (Kepland & KepBay Reflection) is heading into property grand sales next years.
Infrastructure division has a badly injured victim, Kep T&T falling from sky (>$5) to hell (<$1) in just a month times. Reit division (K-Reit) is presenting unbelievable super yield of 15%.
SPC just reported a 99 per cent fall in quarterly net profit. (Not One 99 shop, ok?!)
Of course, the newest and heaviest blow is reserved to Kep O&M: TALK.
KEP O&M is by far the biggest asset own by KepCorp. The ‘talk’ to arrive at mutually acceptable contract arrangement is bad but not the worst.
In more optimistic perspective, the ‘talk’ may not end in simple cancellation. The current total order book of $12.5 billion shall be enough to safe KepCorp until 2012 when global credit crunch subdued.
KepCorp is hovering 10% dividend yield on last Friday closing. Good buy or good bye? I choose the former.
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