Excluding debt and all, Imago itself is worth 80cents per share (800k sqft X RM1k psf at least). Net asset is just .39 now but once the mall is recognized... :)

I think you meant Hap Seng Plantation's results. I don't think Hap Seng Consolidated's results are out yet.

Rebound soon.

No need to rise too fast. Steady up is better hehe

http://www.youtube.com/watch?v=F-tuT2OozvU#t=171

There's a sneak peek at Imago towards the end of the video.

Looking good!

Small small project but shows its consistency in winning projects.

Strong as a tank.

I believe the management team is capable of pulling off big deals, I'm just wondering what is the impact to us as retail investors.

On this side they are listing an empty shell company with the aim to acquire foreign assets for development.

On the other side, they have actually been very active scouting for potential deals and are completing a few with their private vehicles.

It's just a matter of time they will announce that EWI (the new listing, not the current EW) has identified suitable acquisition targets and will pay with the money raised in EWI. They will in fact be acquiring their own private vehicles with EWI.

It may be good for EW and EWI shareholders if the projects make money. But for sure when they acquire their own private vehicles they would have pocketed a good sum of money.

FYI, the annual salary for Tan Sri for heading EWI is a cool RM3m. For the ex CFO of SP, he will be getting RM2m. All of which would be paid by their subscription fee of EWI's shares. Meaning they pay EWI for shares. And EWI pays them salary for managing it. Meaning.... free shares!

http://www.theedgemarkets.com/my/article/eco-world-dev-acquire-30-eco-world-international-rm563m

Be prepared to pay for their purchase.

Mr. Mah look at the price just 30 cents, too cheap until BEH TAHAN.

Whack 2.5m shares. Wouldn't be surprised if he decides to add more at the current price below 30 cents.

ZERO volume for morning session. Weak holders are shaken off.

Cheap sales for long term investors hehehe.

Price drop good for those who want to buy, not good for those who want to sell.

Depends which side you're on. Happy shopping today for me hehe

Sale time means shopping time hehehe

marsklch, thanks for the update on the pics. Looks good! :)

I admire your passion, richman! Hahaha. Best of luck to us

Comparing BJ-WB and BJ-LC:

BJ-WB: 1 WB to 1 Share, strike price=RM1.00

BJ-LC: 2 LC to 1 Share, or 1 LC+RM0.50 to 1 share.

Seems like LC is the better bet compared to WB. Just a RM0.50 strike price. But of course the maturiy is much shorter, just one year left as mentioned. WB has until 2022.

"Upon completion of the Proposed Disposal, the Board proposes to declare a special dividend of
RM0.30 per ordinary share of RM0.30 each in ABRIC (“ABRIC Share”) (“Proposed Special
Dividend”)."

It's in the pdf file of the announcement if you care to read. The summary on bursa's page didn't mention.

Few months ago, I said the magical number is 1.3.

RM146m - RM11m paid to buy subsidiary = RM135m
RM135m divided by around 100m shares (will be more on wb conversions for the dividend) = RM1.35 per share.

NOW WHO'S YOUR DADDY!!!???

Joke aside, i foresee it to rise. Dividend of 30 cents on a 75 cents mother share??

Let the party begin ;)

Very low volume so far today. Minor drop is just due to overall market sentiment. Of course warrant holders will chicken out and sell down. Let's see how it goes.

RM4 came much earlier than expected. :)

Good results plus 2 cents dividend per share announced.

I accumulated few months ago from 1.78-1.66 before it shot up.

Now is second round accumulation phase. Been picking up from 1.70-1.60.

Buy and keep in the fridge.

Nice one tralala, let's see how it goes. :)

0.185 kena sapu habis... seems like forming a new support level. Looking forward to tomorrow.

(Very) limited downside, with so much potential for upside.

800k sqft net lettable area mall worth RM800m = 90cents per share
Recurring income from mall rental = possible dividends to shareholders
Recently concluded Semenyih land purchase = RM40m gain on purchase price
More than RM600m of unbilled sales = steady revenue for next few years
Grant of options fo Mr Yu = Incentivize management to align interest.

Given the recent dividend announcement it is very likely management will distribute part of future recurring income as dividends. We can inquire during the AGM.

I see so much potential in this counter.

It will be a marble company-turned developer by then. The boss paid 15 cents per share. I don't think 20 cents is what he is after. Any short term sell down is not surprising but let's see how it pans out.

The risk is definitely there.

1) Concern about property market, i.e. bad market might delay the launch of the project.

-Yes the property market is slowing down as investors are more cautious, but projects in good locations with appropriate pricing and good design will still sell nonetheless. Do not underestimate the rich. Being a property investor myself I am still confident of the market moving forward. A slight slowdown is very healthy, much like a stock pausing before continuing on an uptrend. Land prices is increasing by the day, developers' only choice is to price their launches higher.

2) Lack of funds for the project.

-Given Dato Allan Lim's background, he is more than capable to manuever this. Whether to borrowings or a JV with a reputable developer. If they decide to JV with a reputable developer, they can leverage on the JV partner's brand plus their client database which will ease marketing efforts. Although the profit might be less but there is a high chance that the project will sell well.

Once you are aware of the risk then you can make your own call.

Just sharing my opinion. Cheers.

Perfect morning session, minor dip due to some profit-taking. But gradually stepping up back to yesterday's closing prices and hopefully exceed it.

Healthy uptrend, much better than an irrational rocket upwards.

Property transactions have been fewer this year, but overall value of transactions still up. Property prices are still on the uptrend albeit slower.

This is why location and the product design has to be really good for a project to be successful.

A GDV of 400m, spread over 4 years translates to:

RM100m revenue per year.
RM25m revenue per quarter.

Considering the previous quarter's revenue is RM7m, a jump to RM25m not-including its marble business, is such an attractive catalyst for Able. A potential 300-400% jump in revenue.

For those who are interested in how I derive the potential GDV for Able’s land in Mont Kiara:

3 acres X 43,560sf/acre = 130,680sf
130,680sf X Plot Ratio [4:1] = 522,720sf Gross Floor Area
522,720sf X 75% Sellable Area = 392,040sf Net Sellable Area
392,040sf X RM1k psf = RM392m GDV

Plot ratio of 4 is based on DBKL’s standard, although developers could apply for a higher density tolerance as long as the height restriction is adhered to (palace is nearby, so couldn’t be too tall).
75% of Sellable Area is a conservative standard for high-rise condo where 25% of area is allocated to lobby, facilities, garden etc.

RM1k psf is based on the latest selling prices of previous launches in Mont Kiara such as Mah Sing’s Icon Residence, Pavilion Hilltop Residence etc. The average prices of condos in Mont Kiara, old and completed, is around RM800-850psf. RM1k psf is not an issue for a launch end of 2014 or early next year.

Let me know what you guys think, cheers.

Over-supply is when there are too many new condos left vacant. Owners bought the unit to be rented out for investment, but there are no tenants to take up the unit. And owners do not live in the unit themselves. Too many empty units = over-supply.

Mont Kiara is a preferred residential address, much like Bangsar, TTDI, Damansara Heights. They belong to the mature township category with excellent amenities and established infrastructure. It is THE location to live in for urbanites in the upper-middle income bracket and above.

Do we see empty units in Mont Kiara? Only for newly completed condos for a couple months until it is taken up by residents. Even if it is empty, it doesn't really matter to developers because units in Mont Kiara are always SOLDOUT. The money is already in the bank for developers.

Dato Allan Lim, former mastermind of Sunrise that made Mont Kiara what it is today. I don't think he will mess up this project. This is his territory afterall!

Can't wait for them to launch this project.

Up_down, where did you get net cash of 4m?

In its latest quarter report i saw:
"Cash and Cash Equivalents as at end of period = RM5.689m"

I know we should deduct liabilities from total cash, mind to share how did you arrive at 4m?

Appreciate it alot.

Bones was definitely exaggerating the GDV of its Mont Kiara land. Impossible to reach 750m.

That being said, I am in :)

Monday hope for the best.

SO HAPPY FOR THIS COUNTER.

1.3 let's go.

Every investor or trader has their own level of expectation, with different timeframe.

In my opinion, AsiaPac will grow in the long run. Whether the share price will reflect its growth or potential is out of my control. When the market is consolidating good or bad counters also will be affected.

The 91 acres in Semenyih will be a township development that will keep them busy for many years. Not that they are not busy enough, with so much unbilled sales left and with several projects lining up to be launched. And don't forget the new stream of recurring income from the Mall.

32 cents per share now does not reflect its true potential and future prospect. But that is just my opinion.

Oh, I was referring to a project that has yet to be announced. That piece of land is somewhere close to a lake ;)

This counter is so cheap right now...

Profit on Semenyih land (if it is sold) is 4 cents per share.

Mall with 800k sqft (taken at RM 1k psf value) is almost RM1 per share.

Plus they are starting a new project in the Klang Valley...

Fantastic results as expected.

matakuda, appreciate your feedback. Just noticed that the news announcement on Toshiba bagging the EPC contract fits in with Alliance Research's report few months ago.

Let's see what are the new developments to Mudajaya in the coming days. Cheers!

http://www.thestar.com.my/Story/?file=%2F2011%2F12%2F17%2Fbusiness%2F10089624

The article above features Mr. Yu Tat Loong (ED of AsiaPac), who seems to be pretty experienced in property and retail development in the China market. Hopefully he can duplicate the success with AsiaPac.

Based on the recent announcement for AGM, I am glad that the committee is seeking to vote for the grant of options to Mr. Yu. This will mean that he is also vested in the company and will drive it further and better. Perhaps he can leverage on his business connections in China for the better of AsiaPac.

Plus, the dividend is also a sign that the company is starting to reward its shareholders and if this trend continues, AsiaPac has only one direction... UP!!!

Cheers.

1. From Alliance Research (24 Feb 2014)

-Based on our channel checks from sources in the power sector, we understand that
should 1MDB win the bid for Project 3B, a consortium of Japanese and Korean firms will
undertake the lead EPCC role for the plant.

-Our sources also revealed that Mudajaya has been “supporting” 1MDB on the bid and
working closely with both 1MDB and the EPCC consortium to undertake the civil works
for Project 3B. Mudajaya has a strong track record with power plant civil works and is
currently undertaking the Janamanjung 4 (RM720m) and Tg Bin extension (RM1bn).

2. From NST today (2 Sept 2014)

http://www.nst.com.my/node/29259

"The international companies include Toshiba, IHI Corp, Hyundai Engineering Co, Ltd and Hyundai Engineering & Construction Co Ltd.,"

So hopefully it pans out the way as mentioned by the report. 1MDB got project 3B, Toshiba-Hyundai gets the EPC contract, Mudajaya gets the civil works. Should replenish the orderbook and add some revenue there, plus some comfort to investors like us.

1.3 here we come :)

Cheers for such an informative article for people interested in Sumatec but not interested enough to do such a lengthy research. Keep up the good work, appreciate it!

Gamuda will be the real winner in Penang, not IJM. Not that IJM is not a good company, but Gamuda has some big plans pending approval for Penang.

One of the GREEN counters in the red sea today! :)

Johnny Cash, referring to your statement above:

Hi - testing, ramp up and full commissioning are different stages, it depends on how you look at it. I focus on full commissioning and when they will really start selling power. My timeline is 1H15 for the first two.

So the reply means that testing and ramp up will start by 1H 2015, so that means full commissioning won't happen by 1H 2015. Did he mention when will the first plant start SELLING power? Only when they sell they can get payment.

If still cannot start selling by 1H 2015 then it's abit too much of a wait i feel.

Net asset is 2.25 so there is still some safety net there.

Don't get too stress everyone! Haha

Kinda expected this bad results coming, being without projects for so long.

Those who bought for the 'turnaround' story should have expected this. Although I'm disappointed with the results it is still within my anticipation of the worst.

Let's see how market reacts to this report tomorrow.