Lately QSS has seen quite a bit of BOT activity. For a company who is still in affordable housing but has been withdrawing over time it is quite interesting. I have been invested in QSS for a few years because of housing affordability but I have never seen BOT activity in this stock, something is going on.
This is taken from half yearly report:
Review of Operations
The results for the six month period reflect a loss of $494,977 (2016: $567,427). The six month period has seen the continuation of the realisation of a number of asset sales, which is consistent with the advised direction of the company – being the completion of the delivery of affordable housing under the Federal and State Governments’ National Rental Affordability Scheme (NRAS), and an asset realisation program to repay existing long term liabilities.
Under the NRAS, Questus has now delivered over 2,755 NRAS dwellings, In 2014 the Federal Government announced that no further NRAS allocations would be issued and since that time the company has been focused on the delivery of the NRAS previously allocated, and have up to 700 NRAS allocations to be delivered on its own projects and in concert with other property developers. With the discontinuance of the NRAS and its assets realisation program, Questus has also focused on reducing its production, staffing and overhead costs to enable the delivery of the current activities efficiently as possible and to position the Company to take advantage of any new opportunities.
Questus will continue to participate in development profits from projects distribution and NRAS fee revenues for the ensuing delivery periods.
(20min delay)