To The Moon

🌈🌈🌈In land scarce Singapore, $PROPNEX LIMITED(OYY.SI)$  is the largest home grown real estate agency with over 11,000 agents. Propnex stands for Property Network for Excellence.  Its core businesses are categorised into 4 business segments - Real Estate Brokerage, Training, Property Management and Real Estate Consultancy.  The man behind this company is Mohamed Ismail Gafoor, who rose from delivering newspapers to becoming its Founder and CEO of Propnex. 

In March this year, Propnex reported a stellar set of results for 2022 as the company's revenue exceeded SGD 1 billion for the first time.    Its agent base grew 8% year on year in 2022 to just over 11,800 and a target of 15,000 agents by 2025 would ensure its growth in the future. 

Along with a final cash dividend of 8 cents per share, Propnex also proposed a one for one bonus issue.  Today an EGM is being held to get the approval of shareholders. 

Propnex share price has jumped 25% year to date.  Analysts are also bullish on Propnex with Target price of 2.05 to 2.40.  

As a long time investor of Propnex I have been very happy to see its share price jumped 147% since I bought it in 2020.  I have also been pleased with its steady dividends.  At the current dividend yield of 7%, it beats putting money in the Singapore fixed deposits. 

It goes to show that it's time in the market that counts, not timing the market.  

Go Long Go Strong Go Propnex! 🚀🚀🚀🌛🌛🌛💰💰💰🍀🍀🍀🌈🌈🌈

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