Minority shareholders mana cukup duit? Haha! :(

http://www.thestar.com.my/business/business-news/2014/03/25/insas-shares-rally-investors-are-attracted-to-its-cheap-valuations/

This was March 2014.

Today, the fundamentals of insas is much much better!

Highly suspicious if money is there!!!!

http://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download/?name=EA_GA_Attachments&id=43045

http://klse.i3investor.com/blogs/icon8888/70215.jsp

So much assured incomes from the Joint Development Agreement from Bukit Jalil City with Malton.

270millions GDV from signature shops, scheduled to hand over by June/Sept 17, 18% is 48.6mil, coming in over the next 12 months, 800mil GDV( or 144mil incomes) over the next 3 years from Park 1 and retail shops.... Park 2 is being soft launched, 71% of 1 tower already booked. GDV for park 2 estimated at 500mil, (90mil from 2017-2021), the mall gdv 1billion to be completed by 2019..... 2 hotel blocks and 1 office tower yet to be launched..... So Much Money there!

This is really Hohup' s cash cow .....

The investment fraternity doesn't see this ? :)

A potential inverted Head and Shoulder chart pattern is developing from Jan 16 to the present, with the neckline at 75 sen. Heavy accumulation suspected in recent months from 68 to 75 sens..... Good Days probably are near... keep fingers crossed... :)

A good takeover target ! Value of quoted shares of the associate companies equivalent to RM1 per Insas share and all the net current assets, also about rm1 per Insas share are free together with more than 500 millions non current assets.

Any billionaire around ? :)

Current asset, net of all liabilities(current and non current ), is rm1.10 per share; Non current asset is another RM1 per share! Excess in the market value of quoted shares less the investment costs of the associated companies is about 83 Sen per share ! Insas offers immaculate values for long term investors!

Haha! JV in BJC alone already let us have peace of mind, after all we bought at the current fire sales prices ! :)

Buy hohup can sleep well. There are so much values in it and the earnings are visible.

Disclaimer: Buy/Sell at your own risks. ...

Ho hup actually has 75%x70%=52.5% of the land. So the jv co paid 57.15mil for that piece of land. :) Now, there is an unrealised paper gain of 127.85mil on that piece of land and HoHup's share of the paper profits is 67mil :)

REV.O project is a jv with mbmland. It is built on top of the Aurora Place which is on the 10 acres land, own development by Hohup. The GDV is about 170mil, 18% entitlement is 30.6mil... :)

Ho Hup's entitlement for the project REV.O at the BJC on top of Aurora Place is 18% of the GDV which is about 170mil.

Just Google "kota kinabalu terminal bas (pusat) bandaraya" will find the exact location of the land on the map. :)

Haha! Bought and just sit tight. No worries!
The land value as appraised by knight frank malaysia sdn bhd, the indicative value is 185millions. The company is in the midst of submitting plans and the launching could be in the 2nd half of 2017.

http://www.thestar.com.my/business/business-news/2015/06/26/ho-hup-to-undertake-jv-mixed-development-project-in-kota-kinabalu/

:) haha! Lol !

Buy 1 million Hohup shares now costs rm700k+, when the service apartment due for taken vacant possession, then sell 500K shares, maybe the sales proceeds then is enough to buy a unit of the apartment in the secondary market..ha! :)

Bullrun 18, that should be the mentality of investing in fundamentally sound stocks like Hohup. Just take it that we have bought the apartments in BJC and wait for it to be handed over by the end of 2019. Then we will see the returns!! By then the whole BJC project may have come to ending.... Imagine how much money has come in to Hohup' s coffer. :)

He said that he bought warrants. LOL!

Ho hup is fundamentally super undervalued! No need to read charts ! just buy and sit tight! Can go double since a major shareholder sitting in the board bought at 1.30-1.50 1-2 years ago!

Disclaimer: buy/sell at your own risks! :)

Good write-up:)

http://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download/?name=EA_GA_Attachments&id=43045

The Joint Development Agreement with Malton in BJC. Pls note the 80 mil loan and repayments...

There is no cash flow to Ho Hup from the jv project with Malton yet as Malton had helped to settle Ho Hup's 80millions loan on the 60acres land charged to CIMB and Malton then take over the land and recharged it to Insas Credit and Leasing after the JDA was signed.The initial proceeds of Ho Hup's entitlements has to be used to offset the loan plus interests first. So far the total entitlements from the jv is 73.5millions. Soon, there will be net cash flow to Ho Hup from the jv BJC project with Malton. Furthermore, Ho Hup is changing in business direction, she now would like to focus on property development as it is more profitable. So, much cash is used to buy land. They had forked out 30millions to buy the KK land which I think is a good buy. And the jv land in Kulai, 429 acres, sitting in an oil palm plantation but it is cheap and need to fork out cash over a long period of 7 years as development progresses, if I am not mistaken. In BJC, the Aurora Place, they are building an 18 storeys office block for recurring incomes. So,Ho Hup needs cash to build business to generate incomes and they have called for a right issues. The CEO was reported to consider paying dividends from next year onwards..... :)

GoldenShares, nice meeting you here. Ho Hup doesn't have to carry the risks for the success of the mall. Profitability is assured at 18% GDV for the whole of BJC project estimated at 4.5Billions as you already know. The fiixed operating overheads for Ho Hup is relatively lean as she has just out of PN17. From the change in shareholdings reported in Bursa, a major shareholder mopped up 20 over millions shares from the open market at more than RM1 average and as hugh as 1.40. Furthermore, EPS for Ho Hup is 20+sen.... It also involves in Construction though the margin from construction is thinner... but there might be pleasant surprises along the way..... :)

bullrun 18, you got cheaper. My average 74. Now has to sit tight. Remember to fasten seat belts. Don't let the operator shake us out ! LOL :)

This is like a secured concession with assured cash flow year after year for a total of 800 million. At the same time, there will be additional surprise on securing of new construction jobs. Additionally, the 5 acres prime land at KK which is at the commercial center in the neighborhood of Shangri-la hotel, Time Squar and Jefferson will add another feather to the cap. The market value of the land is already fetching 185millions.

Bullrun 18, The guy who asked you to sell Ho Hup and switch to FGV group would have brought you to Holland should you have listened to him! Haha! :)

As far as Ho Hup is concerned, the JDA with Malton for the joint development of BJC is a jewel in the crown of the company. :)

Flintstones, what do you mean by Ho Hup has received that cash upfront? Ho Hup is entitled to 18% of the Gross Development Value of the jv project undertaken by Malton in BJC as Ho Hup provided the 50 acres land according to their JDA. Malton had made advance to settle Ho Hup's debt of RM80millions with Insas Credit and Leasing as part of the Joint Development Agreement. The proceeds from the entitlement up to date is RM73.5Mil has been used to offset against the advance made by Malton. NO actual cash flow at the moment from the jv. However, there will be very strong cash flow in the coming Quarters as total entitlement over the project tenure would be around RM720Mil-810Mil on estimated GDV of RM4B-4.5B

Can safely invest in Ho Hup as the the market price now is lower than some major shareholders' average cost w/o taking in the holding costs.:)

Added some more @73.5 today

Gross income is 73.5millions, which is 18% of GDV todate of 408 millions, meaning billed sales todate from BJC jv projects with Malton. 73.5 millions is income receiced by Ho Hup todate. 408 millions calculated from 73.5millions divided by 18%. :) unbilled sales from The Signature Shops and 4 blocks of Park Sky Residence is in excess of 1 Billion. :)

16.24sen earning per share as of 3rd Quarter FY16, latest filing with KLSE, a director bought 100,000 shares around 81sen on 2nd Aug 2016. Major shareholders Insas bought more than 10mil shares at around 1.30 in 2014/15, private placement of 31mil shares @1.12 placed out in Jan 2015...

Todate only realised 73.5mil income on 408mil gdv out of 4-4.5Billion GDV from JDA in BJC, jv with Malton...

BUY OR SELL ?

Intelligent investors know ... :)

Disclaimer: This is not an enticement to buy or sell. It is at your own risks if you do so. :)

Bullrun18, Ho hup entitled to 18% of the GDV of 140mil?

Bullrun18, what are the details of the jv for Rev 0 office block with mbmr?

Earning is more important than NA. Good Cash Flow from the JDA of BJC with Malton, while Ho Hup can also develop her own property projects and secure other construction contracts.... 3 Quarter earnings as of September 16 for FY16 ending Dec 16 is already more than 16sen per share! :)

Sorry typo error, omightycap..:)

Hi, omoghtcap, do you know that the jewel of Ho Hup is their JDA with Malton in BJC which has a GDV of 4-4.5Billions to be developed to completion till 2020/2022 and Ho Hup has a cut of 18% of the GDV as income for providing the 50 acres land?

Value Trap!

In Malaysia, after Ex Dividend the share price will adjust itself! We used to laugh at ourselves that we pay our own dividends through the reduction/adjustment in share prices . Just kidding! ;)

Total Directors annual remuneration is about Rm5.5millions. With a dividend of 1 Sen per share, all the shareholders combine only receive RM6.63millions. Maybe the BOD could cut their remuneration bu 60% and save RM3.3millions and pay an extra 0.5 Sen dividend per share to the shareholders. THE BOD should agree with this and this will make both the shareholders happier and conserve cash for the company! HAHAHA! :)

Shareholders would welcome rights issue if the management has proven that their investments are viable and lucrative and in the interests of the shareholders. By not paying good dividends is akin to not paying the staffs well and expect them to contribute to the company whole heartedly. I hope the BOD could read this. :)

The meagre dividend payment, I think, is the reason for the pathetic performance in share price. By paying good dividends, the company could easily raise capital from the capital market with rights issues. This however will also dig into the pockets of the major shareholders....

Attention now shifted to Ho Hup which has almost no risk in the BJC JDA with Malton .... just sit down to collect 18%.... with steady cash flow from this JDA, earning visibility in the next few years is assured! :)

Bullrun 18, 2015 18% from Malton BJC project was 35mil. The whole BJC project may run into 2022.... :)
Signature shops GDV appro 540mil (forgot the exact figure) fully sold, would be completed by mid 17 or 3Q 17, the 4 blocks of Park Sky Residence approx 1 Billion(91% sold), 44 retail shop office at the Sky Park Residence approx GDV 200mil, 2 Blocks of Park Sky 2, GDV approx 600 mil. The Mall 1Billion, 2 hotel towers and 1 office tower. The whole project schedule for completion by 2020-2022... :)

The success in Inari speaks volumes of the abilities and far sightedness of the BOD. But the share price performance is pathetic. The market value of the holding of Insas in Inari exceeds Insas market capitalization. :)

Disclaimer: This is my personal opinion. Buying or selling of the shares are at your own risks. I have vested interest in Ho Hup shares. :-)

Remaining ICPS AND RCPS will mature by 15th Dec. Probably the reason for deferring the right issue to after the maturity date .... just a wild guess

So don't you think that Ho Hup shares are on a fire sales! :-)

Half year earning per share as of 30th June 2016 is already 11.34.sens

* at least 166mil

Expecting good 3rd Quarter results! Good earning visibility with 18% revenue from BJC Development by Malton which has a GDV of 4-4.5 Billion, so 700mil -800million for Ho Hup and the costs to Ho Hup is the 50 acres land at a cost of RM100mil. Property sales for Malton in the Q ending Sept is 110mil with main bulk from BJC. Ho Hup's Aurora Place has an unbilled sales of 166m as of 30th June 16.