Thanks eric

Eric, how do you know astoria ampang is already launching? I can't find any evidence on that. Based on the website, it's still in pre-launch

That said, if you're not in a need to use money, you may park some money here. Downside is limited as they have lots of cash. Price already factored in most anticipated disaster. When people already anticipate bad thing to happen to this company, any good news should send the price soaring and hence gives you profit. I'll say this is now a low risk, potentially high return investment, if you can hold it indefinitely.

I've been holding this for 2 years. Bought at 0.43, it went up to 0.69..didn't sell..Of course, with hindsight, I should've sold, but it was still undervalued at that time. This company is no doubt undervalued but here's my concern after being 2 years shareholder. The management is not very accurate on their promise..maybe due to inexperienced in investing or what, but I didn't anticipate them to delay the project launch for more than 1 year. The eps for the next year will be screwed up..don't think the share price will rise any time soon, and I've reduced my stake (due to low confidence on management) but nonetheless, I see no reason why I can't profit from this company in the future. They've got nice projects, strong balance sheet & experienced management and are selling at a nice price (dividend yield wise). Even though they are poised to have a strong position, the property market's prospect seem very bleak in the foreseeable future, household debt are too high, banks are not lending. It's a tough time for L&G shareholders.

Thank you.

Val-elta. Can you explain the details of the hedging for me? What is it hedged at against USD and, when does it expire? Where did you get these info?

http://klse.i3investor.com/blogs/kianweiaritcles/85818.jsp

This article, which is in the headline section here, has some major flaw in it. Don't be mis-led.

Hi bursadummy, your article has some major flaws in it.
Please recheck your facts & understanding of ICULS and then re-edit this.
It might mislead amateur readers.
Conversion price means you need to pay that amount per share if you want to convert your ICULS into a real share. Example: Conversion price for L&G-LA is 0.13, meaning you have to pay 0.13 per share to convert it to the L&G share. And it is highly unlikely that they WILL NOT do this. In fact, it's common sense to do this. One L&G-LA is worth 0.31 now. One L&G is 0.44. Will you use 2 L&G-LA (2*0.31 = 0.62) to exchange for one L&G (0.44)?
Of course not. You will use one L&G-LA(0.31) + 0.13 to convert to a L&G.
I hope you can benefit from reading this comment.
(Moreover, the dilution effect has already been factored in the day this announcement is official. Please refer to the stock chart of all the companies above during the time when this ICULS take effect. The market is very efficient even though not perfect)

Don't be discouraged.
It's good of you to share your ideas here.

I have raised this issue to the CFO personally when it was trading at 0.50. Reply? They will not do it. They rather invest the cash in new projects. The cash they have is also somewhat immobile as I know. I suspect this management doesn't care about minority shareholders ,their priority is first, equity growth, then market cap growth. Buying back their own share doesn't make the market cap grow, even if it benefits the shareholders. The problem here is majority of the management is not the shareholder, growth in equity & market cap makes them look better. That said, the management is quite good in the operation side, just that they are not financial wizards & a bit degil lo. I expect the next quarterly result to be disappointing as there are no big ongoing projects. That might send the share price further down. Maybe the one after this will be better. I am in this for the long term, been a shareholder since 2013.

Disappointed with the delay and expected at least 3 cents dividend. Project will only be launched in the third quarter which means you will only see the result in November. Next quarter result will likely be the same as that of the previous 2 quarters. Not likely to move in the short term even though strong support is seen at 0.50.

This may be due to 3 reason:
1) Investors are wary that profit is at all time high and is coming down (Afterall this is a cyclical company)
2) Introduction of GST, RPGT & Reluctance of banks to lend money might cause sales drop in properties counters.
3) Everybody thinks the property bubble is popping.

Nevertheless, It's a great counter in the property sector. Watch the bursa properties index, it's not doing very well compared to other industries. However, It may take some time (to some extent, few years) for the value to be fully realized.

My expectations on this counter:
1)Next quarterly result might be disappointing.
2)Bonus issue (rumored) might be a good catalyst.
3)Second dividend to be much larger than the first.

I wonder how the astoria project in ampang is doing.

Intelligent investor , how do you screen growth stock out? do you use an app or did you do it manually?

Thanks Tan!

Hi, Tan..I would like to join too :) 

My stock pick 
20% L&G 
20% L&G-LA 
Competent Management with Cash Rich Position,
Doing great while other companies are slowing down in a weak property market.
Projects on established land.

20% Padini 
Quality business with sincere management, share price beaten down due to worries profit affected by GST which I think will normalize soon, unbelievably high dividend yeild.
20% Cview 
UNDERVALUED. High dividend yield and low PE (3).
Projects at iskandar visited. Situated very strategically. No attention on this counter. Once it rise, it will shoot.
20% Latitud 
Biggest furniture company listed here. Good revenue growth rate. Improving profit margin due to shifts to more ODM product. Earns in USD, good when convert back to the weak ringgit.

Thanks.

This is a beautiful scenario. Imagine GST effect & Competition eating into the profits of Padini. The eps will look so bad, it disgusts investors. Compounded by weak market sentimen due to fear and worries,, the share price will drop. Hopefully to a PE of lower than 8. That's the opportunity to buy. This business has healthy cashflow and a good bramd established around it. Problem is, the valuation is just fair. A "crisis" like this will create real bargain. Consumer don't have a choice, you may tighten your belt for few months initially but old habits die hard, you're just resistance is futile, spending habits will continue regardless . It only takes time for people to get used to it In times like these, it's actually better for the company as it's competition's products are not so affordable for medium to low class. Plus, the effect from growth in retail space is hidden by the weak consumer sentiment. When things turn around, I believe the result will be beautiful. That's why, I think somewhere next year, Padini will be a real bargain.

Sephiroth, I think even if we take the eps as 0.10 , the share is still worth 1.00.With the selling of next phase of damansara foresta and launching of "the elements 2". I think they will continue to have a stream of income to come. Still undervalued isn't ?

Eric : 80+ million in total will be added to the book value of this company as a result of conversion. I think the public is pretty confused with what is the net asset per share or the real eps now. If you want to be conservative, take the coming quarter result's balance sheet and calculate manually the net asset. If I am not mistaken,as of the AGM, they have a net asset of more than 600 million. (If I am not mistaken ).

Actually the effect of dilution should already be factored in since August 2013..when the share price drop 33% from .46 to .31 on 26 Aug. Somehow , the current investors still want to factor in "dilution effect" whenever there is a conversion. In fact, you should be glad everytime there is a conversion..for every conversion 1 million shares converted, 130000 will be added to the book value of the company. If you're bullish on this company , you should buy the warrant as it gives you a higher percentage gain.

You're not stupid, just conservative. Better safe than sorry.

I would take on margin to sapu your shares if we are at the middle of end of a bear market, however, buying on margin on an old bull market is just not my thing. Wait for other taikors la :)

It's okay. They only can delay the inevitable. My huge profit will come. Talking about 100% gain! Been here since 0.43. Anyone going to the AGM? :)

Volume om both buyer and seller side is big. Buyer and seller quarreling over the 0.5 cents difference..lol

Based on analysis, it is worth at least 4.00 if and only if the revenue and profit margin is sustainable. The reason why it is so undervalued, i think, is because of the sudden rise in earnings over the past 2 years. 100% per year. People don't believe it is sustainable. That's why people.panic when they see the quarter result that records lower than estimated profit (after discounting in the riot). So, this is really a high risk high return situation.

The market will always test your patience. Happens to me all the time, it will trend sideway or even downward for a while until you can't take it anymore and is tempted to leave but if you have stayed longer, just a little longer, you'll be handsomely rewarded. You can actually traon your patience, i think it acts like a muscle and your patience gets better the longer you're in the game. By the way, the company has got quick and great investor relations service. I asked about my annual report delivery status yesterday (5pm), received an email this morning that rectified all the problems.

My concern about latitude is if the earnings are sustainable.

Omg. All big player here. 1 cent only 900 for me. And I have maxed out!

I think these things are expected in the industry. That's why it is called cyclical industry. But the main thing that we are looking at now is the characteristics of the company that is likely to stay the same without change of management. So far it has been a pleasant ride with the company. I think the managing director knows how to weather through this problem as he has been involved in this for so many years already. My assumption is that they have already prepared for the worst and that's why they went for loan stocks instead of conventional loans with interest. And also keep so much cash. Moreover, we won't know when the correction is going to come , so just stay invested. Fall in price is an opportunity to buy more, even it's net asset is worth more than 0.70 (without factoring in the appreciation of its 2000 acres land in ulu selangor. You have some margin of safety. I think everyone is interacting very intelligent here..keep it up :)

The problem is whether the current eps is a one off item or sustainable. I just went in at 3.55. If they have flat earning also I am satisfied d. Only worried next year make lesser.

Being an investor is making me fat, where else can you find a job that pays you for waiting?

1000 hectares of land in mukim kerling..only book valued at 48 million. 20k per acre. Just found out another great thing about this company.

Saturny: have you been through any major Market crash before? Mind sharing how is it like? :)

Am I the only nutcase that is still holding on? Bought at 0.43. :) I valued it at least 0.98 but then again the effect of dilution kicked in. Calculation becomes too complex..so..best thing to do. Nothing.

Readers should know that authors are just there to put out the facts and their opinion. Readers should exercise independant thinking when reading articles. I believe any gain or loss as a consequence of reading the articles should be fully be credited to the reader. However, probably a good disclaimer should be put up to avoid the situation above. Please keep i3 a good forum by posting constructive and intelligent comment.

My Humble advice to investors:
I notice that many people get caught up in the hype of thinking what is going to happen next (in 3-4 weeks) but if you study people with really good results,their profits don't always come immediately after they buy,for example, if they hold the share for 3 years,most of their profits come from a rally of few months. we are humans,not god, we can only estimate what might happen next based on logic and facts but can't really predict the future. What we can however, is use our common sense to think. In the long term, if a security is doing better and better year after year, is it possible for the share price to remain the same? or will it at least reflect the improvement in performance? Once you can answer this question, then I suggest that you do not give yourself emotional stress by asking should I buy or should I sell whenever there is a movement. Unless you are trading in millions, the profit is just not worth the emotional stress you incur on yourself. Do logical decisions based on fact and you can sleep soundly.
Secondly, of course we will wish to acheive high double digit return every year (60% like I did last year) but do know that you can try your best to achieve it but history has shown that very little people can manage to get over 30% every year consistently,let alone 60% or 100-300% as promised by so many trading program out there.(If that is true,we would have many billionaires by now-500k to 1bil in 7 years if 300% every year).
Last but not least, there is no such thing as no risk,you are supposed to know that by now, even if you drink water,you run the risk of choking to death albeit the risk is low. So next time someone try to sell you an idea and say it is guaranteed(no risk) and you fall for it, it is your fault for not able to think clearly.

if you like my postings, please visit my website at www.savwee.com to read more of my articles.

I'll be there to support in full throttle if it goes to 1.60.

Hate to admit. But yeah. The dilution effect from LA is at play here causing roadblocks. Fat profit wwon't come as fast. But. After due diligence, I still believe this company will pperform in medium term.

Good observation. If they have thrown more, the volume would have increased significantly. Instead, they cancelled their order.

Today's volume is so high. 18 million. Surge in volume coupled with surge in price. Very bullish sign. Note that I have featured this company in my website a while ago. Just didn't expect they would issue dividend.http://www.savwee.com/case-studies/land-general-bhd-3174

Wow. I thought I knew a lot about stocks until I stumble upon your article. I should retreat to my humble cave and study more.

Thanks for the support bravo.

By the way,can someone guide me how to put a label on my blog in klse so that it can be related to L&G such that people can find my blog on the blog&headlines of this stock.

Finally,I have written my humble opinion on L&G on my blog. Please visit my website at http://www.savwee.com/6/post/2014/05/land-general-bhd-3174.html to find out more. Feel free to comment and correct me if I'm wrong. :)

Thank you! Will not sell below .90. Will take profit immediately when it is 1.20, In the short term(2 years)

I will post it in my website and I will put the link here. I will publish it somewhere this week. Acelee: the managing director did mention about the possibility of turning into reits. If it does, I believe the dividend yield will be very high for us. However, that is just one of the many paths that could happen. For now, you guys can read my other articles at my website savwee.com if you want. I just wrote an areticle on dividend stocks.

This is indeed a great undervalued stock. Downside risk is it may not maintain the growth rate after few years. But in the coming few quarters, should be spectacular. Very little debt, smart management. best of all, so undervalued. For some reason, no analyst has written on this stock yet. I need to take this opportunity to be the first one to do an english case study on this before everyone else..I'm aware there is a Chinese version by nanyang..very comprehensive..but let me translate it while adding more value to it. Soon soon..

Show him the magic of compounding interest. You can review my blog on it here. http://www.savwee.com/3/post/2014/04/paper-folding-compounding-interest.html . Show him how he could retire on dividend alone when he has compound his money long enough.

pilido:I totally agree with you. Frankly, I'm trying to teach my siblings how to fish. But they're not taking any actions. But I believe I have found the problem,they do not understand why they need to fish and why they need to fish now. They have enough fish at the moment. What we can do is to sell them the idea of why they need to fish and why they need to fish NOW. Then only,you can teach them how to fish.

Mr.koon. I will send an email to your Gmail for us to discuss further . :)

Thank you so much for the affirmation, Mr. Koon. I will step up my effort and share what I know with the readers. :)

Oh yes, just an opinion from a youngster in his 20's. I feel that the education system is a failure. If you want to see the proof, check out the comments above. How many of the people who comment above use their brains before they post something? I feel it is stupid to invoke racial issue. Everywhere in the Internet, on any topic , some joker will always bring out religious or racial issue. I'm so fed up at this. What era are we in..Please move out from your cave. In this global world, everyone is equal. No one is born superior or inferior. No religion is stupid. You don't judge people's religion before truly understand it. If you don't like it, shut your mouth..no one ask for your opinion.