Posted by nikicheong > 2017-07-15 18:09 | Report Abuse

Since UOB Kay Hian is the only one covering Ekovest (that I know of) and their full report is unavailable on KLSE, can you share it with the rest of us here? Would be an interesting read to see how they derive a price of RM1.5x and we are just trading at RM1.00 now.

Posted by Gabriel Khoo > 2017-07-15 19:25 | Report Abuse

you can get the report from bursamarketplace

Posted by Flintstones > 2017-07-15 21:30 | Report Abuse

Thank you sos sifu. One of the best in i3. No nonsense analysis, straight to the core.

Posted by MomentumInvesting > 2017-07-16 00:02 | Report Abuse

Target price 80 sen.
Minimum Guarantee of 10% IRR to EPF is a big risk. How to make RM130 million profit when sales only RM132 million? Property market so bad, how to sell?

Posted by sosfinance > 2017-07-16 10:11 | Report Abuse

@momentumIvesting, best wishes to your target price.

1) As for the guarantee, please read extract below by Felicity, maximum exposure is RM149m.

2) Sales only RM132m? Duke 1 and 2 combine, the sales will DOUBLE in next few years.

3) Duke 1 & 2 still have 53 years to go, once listed, likely the value will exceed the 10% IRR.

4) Property market bad - how to buy? Anyway, item (1) and (2) already way, way above the market cap of RM2.2b, without considering the EkoCheras Mall, GDV 7b property, Duke 3 or SPE value, and River of Life (approval in principle)

5) @momentumivesting, do show your "technical basis" of arriving at TP 80 sen, so we can learn together. Else, my NONMOMENTUM INVESTING is saying TP2.20 (just kidding)

Investing can be fun, but it is not a game.

Extracted from felicity @ Nov 9, 2016

To cut things short, basically there is a guarantee of 10% IRR to EPF for the next 5 + 2 years. (EPF has protected itself well - so everyone thats working should be happy). If Ekovest does not achieve the intended target, it will have to pay EPF the difference through the monies that are allocated under the escrow account (RM149 million). The whole negotiation as I see it is to find another place for the highway asset - most probably IPO.

Posted by chrisyap > 2017-07-16 19:55 | Report Abuse

if one been long enough in bursa, in short term, the price for good stock may not necessary go up and also for bad stock it may not necessary come down, so ekovest good or bad ? haha, plug from air it should trade between 1.20 to 1.50, all the best man for whoever who trade or invest.