Faster Enterprises Navigating Through The Lucrative Real Estate Landscape

Faster Enterprises Limited (ASX: FE8), based out of Box Hill, Australia, is engaged in the development and management of residential, commercial, and serviced apartments and hotels in Australia. In addition, it is also engaged in leasing retail properties. The company is a subsidiary of Coolyah Properties Trust and was incorporated in Victoria in 2015.

The real estate market player operates via three principal business segments comprising Property Development, Hotel Development, and Property Leasing.

There is a myriad of competitive strengths on the back of which Faster Enterprises has built an excellent portfolio. Pursuant to its distinct business model, the company sells specific properties to obtain immediate capital returns to support its ongoing operations and expansion plans, while it reserves some properties for maintaining a stable recurring rental income as well as promote long-term capital appreciation. This balanced approach enables diversification of sources and timing of revenue which not only fulfils short-term capital needs but also improves long-term financial strength.

Besides, the retention of the commercial and hotel developments as investment properties allows for strategically introducing some tenants on board.

While picking the land locations for its projects, the company applies extreme discernment. Moreover, a high emphasis is placed on accentuating the surrounding landscapes, incorporating recreational spaces and infrastructure to offer an attractive and preferable living environment. Primarily, Faster Enterprises targets the customers across Australia and China.

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During the half -year to 31st December 2018, the company successfully settled the purchase and sale of 4 Watts St Box Hill and 7 Ellingworth Pde Box Hill respectively. Since then, it has advanced its initiatives to obtain a building permit for the Watts St property and to ensure the resources required to commence development of the site, with modular construction in mind.

At the backdrop of the Skyrail (connecting Caulfield to Dandenong) reaching completion, and the Djerring Trail (Caulfield-Dandenong Rail Trail) also operational, Faster also moved forward with its plans to acquire a new planning permit for the 1032 Dandenong Rd Carnegie property and transform it into a 12 storey, 4 ½ star apartment hotel.

The revenue from the ordinary activities undertaken during the half year amounted to around $ 343,476, up 40% on $ 245,750 in the prior corresponding period (pcp) ended 31st December 2017.

At the end of the concerned period, the net assets of the company were valued at around $ 4.89 million including net cash and cash equivalents of $ 57,135. The financing activities generated approximately $ 2.28 million of cash inflows, primarily due to large proceeds of ~ $ 3.44 million from bank loans after providing for repayment of $ 1.25 million. Meanwhile, the operating and investing activities led to cash outflows of ~$ 1.11 million and ~$ 1.18 million each.

With around 110.89 million outstanding shares, the FE8 stock last traded at a price of $ 0.014 on 1st May 2019.


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