very smart to focus on Xiamen, China :)

Property development in China is expected to continue its positive impact on the group’s financial results, as the group proceeds with its future residential development comprising mid to high rise condominium and town villas in IOI Palm City, Xiamen.


Xiamen has a diverse and well-developed economy. It is the first to refer to the business environment indexes of the World Bank with the aim of creating world's first-rated business environment. In 2018, its business environment ranked 2nd among 22 cities across the country that was evaluated by the National Development and Reform Commission. Its measures in areas such as dealing with construction permits, getting electricity, and trading across borders take the lead in the country.

Its social credit system has been improved. In 2018, its overall credit index ranked 2nd among 36 provincial capitals and sub-provincial cities and above.

The Siming and Huli districts form its Special Economic Zone.

Xiamen focuses on the development of five major industries - electronic information, equipment manufacturing, tourism and culture, modern logistics, and financial services.

The city strives to build more than 10 industrial chains, each with an output value of 100 billion yuan ($14.71 billion), including panel displays, computer and communication equipment, semiconductors and integrated circuits, software and information services, machinery and equipment, new materials, tourism and exhibitions, cultural creativity, modern logistics, financial services, biological medicine and urban modern agriculture.

Xiamen's GDP has grown at an average annual rate of 15.4 percent since China's reform and opening-up four decades ago. In 2018, per capita GDP: 118,015 yuan ($17,105); per capita disposable income: 50,948 yuan; public financial budget revenue: 128.3 billion yuan; 1,626 hi-tech enterprises, accounting for 44 percent of the total number of Fujian province; 600.5 billion yuan of total foreign trade value; degree of dependence on foreign trade has reached 125 percent.

By the end of 2018, Xiamen brought in a total of 14,818 foreign-invested projects; contractual foreign investments: $66 billion, actual foreign investments: $37.9 billion; 62 overseas Fortune 500 companies invested in 112 projects in Xiamen.

The city has economic and trade relations with 162 countries[citation needed] and regions worldwide, and benefits from foreign investment, particularly capital from Hong Kong, Macau, Taiwan, Singapore, US, Japan, Switzerland, Malaysia, Philippines, German and UK.

Xiamen is also the host of the China International Fair for Investment and Trade held annually in early September to attract foreign direct investment into the Chinese mainland.

Xiamen also hold Straits Forum annually. The 2019 edition kicked off in the coastal city from June 15–21. More than 10,000 people attended the annual forum this year.

As an EPF account holder, I also don't care how much more shares EPF wanted to invest in ioipg as long as EPF pays good ROI to all epf account holders. Currently, only 7.4%+ stake in ioipg. With continuous purchase, of ioipg shares, it could go up much higher :)

For investors, the most important thing is maximisation of shareholders' value e.g. share buyback, privatisation, expansion, spin off, etc. They don't care how the cat catches the rat :)

Reprivatise to relist in Singapore, hongkong or china to fetch higher valuation. Ioipg's properties in Xiamen should be more and more valuable in southern China with hot weather, far away from Wuhan. Rich mainland Chinese should be interested in Xiamen properties as a santuary for retirement, etc :)

Property development in China is expected to continue its positive impact on the group’s financial results, as the group proceeds with its future residential development comprising mid to high rise condominium and town villas in IOI Palm City, Xiamen.

In Singapore, its joint venture project South Beach Residences is expected to generate positive impact arising from positive sales response.

In the property investment segment, the group’s portfolio of investment properties continue to enjoy healthy occupancy levels and good rental yields, generating a steady stream of recurring income for the group.

Time for ioicorp to reprivatise and list it abroad for higher valuation, etc. Also spin off its investment properties as REITs, relist 2 entities abroad. :)

IOI Properties’ RM1.87 bil relisting was 2014’s largest IPO
Kamarul Anwar

The Edge Malaysia

January 17, 2015 15:00 pm +08

THE relisting of IOI Corp Bhd’s property arm on Jan 15 provides both entities with separate platforms to pursue different growth and business strategies. It also gives greater visibility of the companies’ business performance.

IOI Properties Group Bhd was the first and largest of this year’s 14 listings, raising RM1.87 billion for IOI Corp through a restricted offer for sale.

IOI Properties did not issue new shares. It did not have to as it was not in need of cash. At the point of listing, it had a net gearing of only 0.05 times and a landbank of 10,000 acres — one of the largest among the listed developers — and a total market valuation of RM8.1 billion as appraised by independent valuers.

IOI Corp distributed 2.13 billion of its existing shares in IOI Properties to entitled IOI Corp shareholders on the basis of one IOI Properties share for three IOI Corp shares held. Then, IOI Corp offered to sell 1.07 billion IOI Properties shares for RM1.76 each to its shareholders on the basis of one-for-six shares.

With a reference price of RM2.51 per share, IOI Properties became the second largest property developer in terms of market capitalisation as the company was valued at RM8.13 billion upon its listing.

It seemed wise for IOI Corp to spin off its property assets to unlock the value of its property development arm. After being privatised by IOI Corp over four years ago, the property arm’s total assets had grown nearly three times to RM12.59 billion as at June 30, 2013, the full financial year before its listing.

IOI Properties reached a high of RM3.453 on listing day, a 37.6% premium to its reference price of RM2.51. However, the shares have averaged at RM2.52 since then. They ended last Wednesday at RM2.27, 9.6% lower than the reference price.

This was partly due to the softening property market that has soured investor sentiment on the sector. At the time of writing, IOI Properties’ market value was 9.92% lower than its IPO value of RM7.35 billion. Still, it managed to retain the second spot below SP Setia Bhd, which has a market capitalisation of RM8.22 billion.

AmInvestment Bank and RHB Investment Bank were the joint principal advisers and joint global coordinators for the IPO. Standard Chartered Securities (Singapore) Pte Ltd was also a joint global coordinator.

While analysts were optimistic about IOI Properties before the listing because of its clean balance sheet and wide operating margin, they seem to be lukewarm on the stock now. Currently, three out of eight analysts who cover it have a “buy” call while the others have a “hold”.

Its RM101.001 million net profit for 1QFY2015 ended Sept 30, 2014, was 9.06% lower than the previous corresponding quarter’s RM111.06 million. Revenue, however, increased 33.82% year-on-year to RM375.52 million.

The group said the lower profit was due to a decrease in results from associates and joint ventures, as well as higher net interest expense.

Recently, IOI Properties raised eyebrows when it sought to buy a 37.17% stake in Taipei Financial Center Corp, which owns Taipei 101. While the tower offers a decent yield of 5% and is nearly fully occupied, the RM2.74 billion price tag for the stake accounts for nearly a third of IOI Properties’ market capitalisation.

The group’s net gearing level will also increase from 0.16 times to 0.4 times, which is near the optimum threshold of 0.5 times for property developers. Taiwan’s politicians have also protested, saying that a foreigner would own a sizeable stake in the country’s landmark.

This article first appeared in The Edge Malaysia Weekly, on 22 - 28 December 2014.

Better to spin off its investment properties as REITs e.g. klcc, ytl, Sunway, etc , ie IOI REITs. Some investors did not see it if combined, etc :) privatise first and then relist as 2 separate entities abroad, should fetch much higher value

Maintain BUY with an unchanged TP of RM2.04, based on a discount of 45% to RNAV of RM3.71. IOIPG remains a deep value stock with huge land bank and investment properties on the back of attractive P/B at 0.3x (industry average of 0.7x), reinforced by the its maturing investment properties and a strong track record.


Source: Hong Leong Investment Bank Research - 2 Dec 2019

Either privatise and relist elsewhere or spin off its investment properties to create IOI REITs will maximize shareholders' value. HLI's target price for ioipg was RM2+ in Dec 2019

Ioipg has investment properties in Malaysia and abroad. Can spin off like ytl to create REITs e g. IOI REITs to maximize shareholders' value as some investors were blinded if combined together

Ioi brand is well known in china

It has built a solid reputation as the esteemed property arm of IOI Group prior to its ... In 2010, IOIPG ventured into property development in China .

The recent unrest in HK plus the virus incident, more hongkis will buy property in Malaysia and Singapore

With the virus incident, even much easier to sell properties in Malaysia and Singapore to hongkis and mainland China citizens

OPR is at the lowest level since 2011, lower rate is good for the property sector

More n more , quarterly result will be announced this month

KUALA LUMPUR (Jan 20): IOI Properties Group Bhd said today its directors Datuk Lee Yeow Chor and Lee Yeow Seng have given notices of their intention to deal in the securities of the company during the closed period pending announcement of IOI Properties' second-quarter financial results.

In a statement to Bursa Malaysia today, IOI Properties said Yeow Chor, who owns a direct stake of 0.124% in IOI Properties, has a deemed interest of 62.954% in the company. Meanwhile, Yeow Seng, who owns a direct stake of 0.002% in IOI Properties, has a deemed interest of 62.947% in the company.

"(Yeow Chor is) deemed interested by virtue of his interest in Vertical Capacity Sdn Bhd (VCSB) under Section 8 of the Companies Act 2016 and also interest in share of his spouse, Datin Joanne Wong Su-Ching, under Section 59(11)(c) of the Act.

"(Yeow Seng is) deemed interested by virtue of his interest in VCSB under Section 8 of the Act," IOI Properties said.

According to IOI Properties, the company's total number of shares with voting rights stood at 5.51 billion units as at today.

Based on IOI Properties' number of issued shares of 5.51 billion units and its 12:30pm afternoon break closing share price of RM1.21, the company has a market capitalisation of RM6.66 billion.

Boleh masuk penjarakah?


PETALING JAYA: Independent directors of AirAsia Group Bhd and AirAsia X Bhd have been summoned by the Securities Commission Malaysia (SC) and Bursa Malaysia Bhd over corruption allegations involving the two budget airlines’ top executives.

It is understood that the individuals are likely to be on the current board as well as those who had served as independent non-executives at the two sister carriers between 2012 and 2014, a period when the bribery transactions allegedly took place.

The current independent directors of AirAsia are: Datuk Fam Lee Ee, Datuk Mohamed Khadar Merican, Noor Neelofa Mohd Noor, and Stuart L Dean.

Fam was also independent director in 2012-2014, while Mohamed Khadar was there in 2012-2013. Other previous independent directors during the said period were: Datuk Leong Khee Seong (2012), Datuk Mohd Omar Mustapha (2012-2013), Robert Aaron Milton (2013-2014), Uthaya Kumar K Vivekananda (2014) and Amit Bhatia (2014).

At AirAsia X, Tan Sri Asmat Kamaludin, Datuk Yusli Mohamed Yusoff and Tan Sri Rafidah Aziz have been the independent directors since 2013.

On Monday, AirAsia announced that its co-founders Tan Sri Tony Fernandes and Datuk Kamarudin Meranun — believed to be the subject of the investigation — had relinquished their executive roles in the company effective immediately.

This followed earlier probe details released by Britain’s Serious Fraud Office which found European aerospace corporation Airbus had allegedly bribed officials at AirAsia and AirAsia X to secure lucrative contracts to supply aircraft to the Southeast Asian budget carriers.

The kickbacks totalling US$50 million (RM206.5 million) were said to be paid in the form of a sponsorship for a sports team owned by Fernandes and Kamarudin, who have been redesignated as AirAsia’s non-executive director and non-executive chairman, respectively.

Both Fernandes and Kamarudin have categorically denied all allegations of wrongdoing or misconduct on their part as executives and directors of the airline, with regard to the corruption allegations which are also being investigated by Malaysian authorities.

Meanwhile, AirAsia had earlier said all aircraft purchase agreements involving the airline had gone through “careful evaluation, deliberation and the collective decision of the board members” and were never carried out based on any single individual decision.

AirAsia and AirAsia X have both formed a board committee comprising non-executive members other than Fernandes and Kamarudin, to review the allegations and take any necessary action based on the review.

EpF & major shareholder cum director , more than 70% stake. Less than rm2bil to acquire the remaining shares (less than 30% excluding epf's 7%+

KES rasuah adalah ISU utama terkini seperti najib, Zahid, dll..

Macc Dan mav Dah Kata Akan bertindak. Melabur untuk jangka panjang oklah, kalau mau spekulasi macam Judi, matilah nanti boleh menjunam lagi , takda kepastian. Careful guys

Takut Macc dakwa Tony Dan kamaruddin Dan kena hukuman penjara kot?

Short term traders, bahaya lah.

Ada holding power boleh Beli, jangan main contra or pinjam, nanti bankrup :)

Got holding power ok. Don't main contra

People are very risk averse

Macau casinos were told to close for 15days

目前，IOI产业（IOIPG，5249，主板产业股）在大马、新加坡和中国，拥有约1万英亩的地库，合计发展总值超过600亿令吉。

Privatise cheaply now and relist in spore or HK at rm2 or higher

https://www.klsescreener.com/v2/news/view/632358

IPO price rm2, now 1.1+ no wonder EPF and largest shareholder Beli Banyak 2 now

Undervalued


KUALA LUMPUR: IOI PROPERTIES GROUP BHD (IOIPG), which is tentatively slated for a Main Board listing on Jan 15, 2014, will be the first initial public offering next year and is set for a RM8. 13bil market capitalisation at the reference price of RM2.Dec 26, 2013
https://www.thestar.com.my › business
IOI Properties to list on Jan 15, set for RM8.13bil market cap | The Star Online

Buyback more before the share price rises


IOI Properties Group Bhd said today its directors Datuk Lee Yeow Chor and Lee Yeow Seng have given notices of their intention to deal in the securities of the company during the closed period pending announcement of IOI Properties' second-quarter financial results.

IOI Properties said Yeow Chor, who owns a direct stake of 0.124% in IOI Properties, has a deemed interest of 62.954% in the company.
Meanwhile, Yeow Seng, who owns a direct stake of 0.002% in IOI Properties, has a deemed interest of 62.947% in the company

Epf and major shareholders buying nonstop. Better privatise it

IOI Properties Group - Supported by JV Contributions
Date: 02/12/2019

Stock : IOIPG Source : HLG
Price Target : 2.04
Last Price : 1.16


IOIPG reported 1QFY20 core PATMI of RM175.5m (+58.1% QoQ, +12.7% YoY), forming 24.8% and 26% of our and consensus full year forecasts. We note that the 1QFY20 results were supported by the recognitions of the South Beach Residences which is lumpy. 1QFY20 new sales of RM390m comprises of 56% Malaysian and 44% Chinese projects. Management maintains a flat sales target for FY20 of RM1.8bn-RM2bn. Unbilled sales stood at RM750m, representing a cover ratio of 0.46x. We maintain our forecasts and BUY call with an unchanged TP of RM2.04 based on a 45% discount to RNAV of RM3.71.

Within expectations. IOIPG reported 1QFY20 core PATMI of RM175.5m (+58.1% QoQ, +12.7% YoY), forming 24.8% and 26% of our and consensus full year forecasts, respectively. We remain conservative and deem this within expectations as 4Q may not continue registering seasonally strong results. This was seen in 4QFY19 which registered weaker results as opposed to the historical trend of being seasonally stronger. We also note that the 1QFY20 results were supported by the recognition of the South Beach Residences which is lumpy.

Dividends. None Declared.
QoQ. Revenue increased 8.5% to RM540.3m largely due to improved progressive billings recognition. Subsequently, core PATMI rose 58.1% to RM175.5m in tandem with revenue supported by improvements in JV contributions (i.e. largely South Beach Residences in Singapore) which recorded a profit of RM48.8m as compared to a loss of RM21.3m in the preceding quarter. As the South Beach Residences is already constructed, earnings recognition will appear lumpy as it is recognised upon payment.

YoY. Revenue remained relatively flat (-3.5%) while core PATMI improved 12.7% largely due to improvements in JV contributions (i.e. South Beach Residences in Singapore).

New sales of RM390m were achieved in 1QFY20 sales comprising of 56% Malaysian and 44% Chinese projects. Management maintains a flat sales target for FY20 of RM1.8bn-2bn. Unbilled sales stood at RM750m, representing a cover ratio of 0.46x which is an improvement from the previous 0.28x as at 4QFY19. In addition, we note that this has not included the sales to be recognised from the Xiamen projects. With regards to China, we understand that over RMB6bn worth of GDV is expected to be launched over the next two to three years (depending on the market) to sustain profit moving forward.

Outlook. Despite the thin unbilled sales cover ratio, FY20 earnings should be anchored by projects from China with further potential launches. However, we note that launches moving forward in the Malaysian market will likely be of lower margins as the property market remains soft.

Forecast. Unchanged.
Maintain BUY with an unchanged TP of RM2.04, based on a discount of 45% to RNAV of RM3.71. IOIPG remains a deep value stock with huge land bank and investment properties on the back of attractive P/B at 0.3x (industry average of 0.7x), reinforced by the its maturing investment properties and a strong track record.


Source: Hong Leong Investment Bank Research - 2 Dec 2019

Date Price Target Source News
02/12/2019 2.04 HLG

Fearful shareholders rugi besar Jual awal , sayang

More than 100mil shares traded, buy rate 66%

Above 1.3 before lunch break, :) probably

Macam pertandingan sapu syer Murah AirAsia Hari ni :)

Not a dead cat. Like a race to sapu as much share as possible regardless of price :) 1.24 now

Buy rate jumped to 66%

Net assets per share 1.38. at least worth 1 time +

13/01/2020 1.72. Back to 1.4-1.5+ level , more reasonable.

Buy rate 65%

Luar biasa , Naik tanpa halangan

Pokok bergoyang sebab Ada angin. Angin baik Dah datang :)

Something good is coming

Buyback, better late than never

People might think this is conspiracy , let the share price down, now rebound speedily

Up like this, no more cursing :)

Big money involved , sapu share like money isn't money. Back 1.3-1.4 today hopefully

Short AirAsia, mati

Up like crazy

The company generates the majority of its revenue from general insurance business segment.