This one even WORSE than Ekovest & TSH... mkt cap is more than 6X revenue! Severely overvalued with -ve earnings to boot! Zero dividend since eternity. Lots of constantly depreciating leasehold lands that need lots of $$$ to make them valuable.
Before it drop to 20sen, it was around 90sen in Year 2019. As everybody know, land price is always increase, especially Johor land. Certain industry area land has increase two fold within this few years. Assume IWCITY is still having the same size of landband, why 5 years ago it worth 90sen, and today it worth 70sen only? Does the land price drop?
IWCity's share price tumbled today primarily due to investor concerns about its ongoing financial challenges and the uncertainty surrounding its restructuring plans under Paragraph 8.03A of Bursa Malaysia's listing requirements. Despite the strategic merger with Ekovest, there are apprehensions about IWCity's ability to turn around its financial situation and effectively execute the merger benefits (KLSE Screener) .
Additionally, market volatility and external economic factors could also have contributed to the share price drop. Investors are closely monitoring these developments to gauge future prospects.
21m ago (12:30 GMT) Hamas’s military wing says it fired rockets towards central Israel In a message on Telegram, the Qassam Brigades said it targeted Gan Yavne and Ashdod “in response to the massacres committed against the Palestinian people and resistance leaders”.
Iskandar Malaysia has seen 70% or RM291.4 billion of its total cumulative investment of RM413.1 billion realised to date, since the economic region’s inception in 2006
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
anson938
2,018 posts
Posted by anson938 > 2024-07-17 16:34 | Report Abuse
Banker is buying today!!!