Posted by PenguinDad > 2017-04-01 11:38 | Report Abuse

I just learn about there are a block from special dividend give out by ECM might have exit along the way. Their price is 1.57 and 0.21. I see a local fund should have caught in the uptrend.
23 Mar 2017 Acquired 220,000 LTH
23 Mar 2017 Acquired 508,800 LTH
E&O fair value is 0.635 and 1.40 is already super good.

Posted by PenguinDad > 2017-04-01 11:49 | Report Abuse

From STARBIZWEEK

KWAP 66.2mil shares @ RM1.84~1.94 for RM121.6mil

Datuk Sri Terry Tham
RM323mil or RM2.45 for 10% from Sime Darby
RM319mil for 9.9% or 110mil share at RM2.90

If I am not mistaken, Goh family & LTH have acquires a hugh quantity between Sep 2015~ Dec 2016 and is time to realise the gain. Cost should be around 1.40~1.60 for them.

Posted by stockmanmy > 2017-04-01 12:20 | Report Abuse

any sell down is scary

but crisis is also opportunity.

your call.

Posted by LOO99 > 2017-04-01 13:18 | Report Abuse

Wait n c...hope can buy at the bottom..n rebound

Posted by BornToSpeculate > 2017-04-01 16:37 | Report Abuse

I dont know much about this counter but based on what i can see is

1) Management stigma. So current shareholders should be happy their got rid of the previous CEO Eric who did nothing for share prices the past 2-3 years ? Now this tells me 2 things. Most funds would be unlikely to participate / continue investing given that they have shown they don't really care about shareholders. Now your last line of defense should would be the man of the street ( some of us in these forums ) to invest, but these appears to have also given up hope on this stock. So you buy cheap now but who you plan to sell to ? Has new mgmt done anything spectacular since ?

2) STP2. If this is so profitable, why sell 20% was it to KWAP. How much funds is KWAP going to help with 20% anyway. This group is not heavily geared ( less than 1x gearing ) and should have capacity to borrow more instead of going to equity for funding. Btw new CEO is supposedly well connected in the finance and property market but doesnt seem to adding any value here in my honest opinion. If STP2 was a good deal, and in the best interest for the shareholders, shouldnt mgmt convince KWAP take a larger shareholding at holding level instead of taking some equity at subsidiary.

Someone made a reference to JAKS. That to me seems an entirety different case as its depreciation and impairment provisions ( not going to be there every quarter ) and these are all non-cash items. So no change to baseline recurring cashflows.

Exit of Mr Goh ( singaporean tycoon ). I dont know much about him but let me say this. Tycoons dont like to lose money and have the ability to identify opportunities, probably due to their army of advisors and analyst.

I thought of jumping in as well but the discount doesnt appear large enough for the risk that potentially i might have to hold this long term on a negative position. It has only fallen 10% ?

Posted by KiasuKaki > 2017-04-01 16:45 | Report Abuse

I m leaning, since KWAP collect at 1.8x to 1.9x at special rate (bulk volume)
Will they allow price drop below 1.9 ?
So nice if public like us can enjoy same range

Posted by PenguinDad > 2017-04-01 17:14 | Report Abuse

I don't think KWAP got it at a special rate from the fair value. They got a fairy tales story about STP2.

Posted by BornToSpeculate > 2017-04-02 00:26 | Report Abuse

KWAP entry doesnt really tell you anything, not saying that they are not good at what they do but public funds / pe funds that are managed by 'professionals', can 'do deals' with companies. Now if it was someone like a reputed businessman / investor buying in, now that would be a different story completely.. then their buy in price would have value to in my honest opinion.

Anyway funds like KWAP can afford to screw up and buy stocks expensive, as they have the long term holding power and also sufficient financial strength to 'double up' if prices do drop.

In a nutshell, i think that the large drop on Friday was telling us is that some shareholders are probably pissed off that the company decided to reduce their future profits by giving a piece of the profit cake to KWAP on subsidiary level instead of getting them to buy mothershare directly ( where in this case KWAP upside is the same as any other shareholder ).

I dont have all the details but if company doesnt put shareholders first, you sure you want to put your money there

Posted by greatful > 2017-04-02 10:17 | Report Abuse

Different analysts has own view and sharing (regardless of with specific reason or not).
I salute them because they have some facts to support their statement (regardless of reasonable or not).
There are some people also have skill like those analysts. But some are not. Some people just "BOOM after the Horse". LOL.

Posted by stockmanmy > 2017-04-02 10:58 | Report Abuse

The only way to eliminate risk is to stay away.

But this much I know.

E & O will eventually succeed but IWC is hype.

This one really got sea view whereas IWC is not what they want you to think.

IJM became $ 12 billion company because of their reclaimations in Penang.

Posted by Penang_lang > 2017-04-02 11:14 | Report Abuse

IJM reclamation project a success because near Penang Bridge and also factory area. Unless third link(Pg Bridge) is built soon doubt STP 2A can be as successful. Why insiders GK Goh sold recently?

Posted by stockmanmy > Apr 2, 2017 10:58 AM | Report Abuse

The only way to eliminate risk is to stay away.

But this much I know.

E & O will eventually succeed but IWC is hype.

This one really got sea view whereas IWC is not what they want you to think.

IJM became $ 12 billion company because of their reclaimations in Penang.

Posted by property > 2017-04-02 11:44 | Report Abuse

If E&O so good why not cheap property stocks should move as well? After all "future" is what E&O(STP 2A) is all abt.

Posted by stockmanmy > 2017-04-02 11:48 | Report Abuse

I just stating facts. Not predicting the future.

Posted by sctan > 2017-04-02 11:58 | Report Abuse

e

Posted by sctan > 2017-04-02 12:00 | Report Abuse

borrow from bank will further increase the debt and interest to be paid, issue right share, shareholder not happy. by getting new investor, you can get fresh capital and somone to share the risk. of course you may sacrifice part of potential earnings. this is not a bad idea

Posted by property > 2017-04-02 12:21 | Report Abuse

STP 2 what sea view? I only see sea now. Other property counters their land at least can see now or even with houses.

Posted by pakatan_harapan2 > 2017-04-02 12:52 | Report Abuse

No wonder people said GLCs' run by idiots. Fake photograph also they believe?

Posted by greatful > 2017-04-02 13:01 | Report Abuse

you love this counter, you only see good about it and selectively ignore the other bad comments.
you hate this counter, you only see bad about it and selectively ignore the other good comments.
this is some of mankind behavior.
so in short, no need to influence others. just share and leave it if you still insist to share. End of the day, that's not your money and do not over confident that your comment will influence the market simply because you are not famous investors.

Posted by stockmanmy > 2017-04-02 13:08 | Report Abuse

luxurious beach side bungalows.

If you can imagine, you can get one.

Posted by enid888 > 2017-04-02 18:24 | Report Abuse

Singapore has Marina Bay, KL has Bandar Malaysia. STP 2 will be the Penang version. These 3 areas have the same features. They are big enough, near to the existing CBDs and totally new areas which can be planned by metropolitan planners. The bridges, roads, commercial zone, high rise residential zones, shopping belt and parks can be properly planned. Just like Marina Bay will be the most valuable area in Singapore, STP 2 will be the most valuable CBD for Penang.

Look at its location, it is near to the existing CBD and Gurney Drive. The new highway and future LRT will pass through the area. The two most famous shopping malls, Gurney Plaza and Gurney Paragon are just across the future bridge that will be built from STP 2.

I think E&O should find a more glamour name for STP 2. Something as attractive as Marina Bay and Bandar Malaysia,

Posted by enid888 > 2017-04-02 18:42 | Report Abuse

Gurney Drive is now built with a row of shopping malls, hotels, night spots and condominiums. It is called the millionaires row. The new developments that are in progress there now are all more than 40 storeys tall. STPs is just across a short bridge. This shows you the potential of STP 2.

Posted by stockmanmy > 2017-04-02 18:49 | Report Abuse

takes a few years nevertheless

but stock market, we never know for sure the timing.....but long term surely good.

Posted by enid888 > 2017-04-02 19:29 | Report Abuse

Just compare IWCity with E&O

E&O
Land : Some existing, some under reclamation.
RNAV : RM6.10 (Affin Hwang, The Edge)
Share Price : RM 1.93 ( 32% of RNAV)

IWCity
Land : Some existing, some under reclamation.
RNAV : RM4.50 (The Edge)
Share Price : RM 2.93 ( 65% of RNAV)

So now, the price will increase or not?
My answer : It is actually Terry Tham vs Lim Kang Hoo
If Lim Kang Hoo is able to attract investors to trade IWCity at 65% of RNAV, is Terry Tham able to do that or not?

Posted by stockmanmy > 2017-04-02 19:36 | Report Abuse

Lim Kang Hoo sold 20% of Duke to EPF so market knows true value of Duke
Terry sold 20% of STP to KWAP so market knows true value of STP

will bite or not?

Posted by enid888 > 2017-04-02 19:41 | Report Abuse

Agree with you, Stockmanmy.

Posted by Junx Leow > 2017-04-02 20:22 | Report Abuse

look like share price still cheap, tat is why kwsp perchase for the price as believe so

Posted by Junx Leow > 2017-04-02 20:33 | Report Abuse

i think the same case people will come to dump and pump like lwcity later

Posted by chamlo > 2017-04-02 20:50 | Report Abuse

Different is IW City already can see their land(Bandar M'sia) whereas STP2 mostly make up of sea water.

Posted by stockmanmy > Apr 2, 2017 07:36 PM | Report Abuse

Lim Kang Hoo sold 20% of Duke to EPF so market knows true value of Duke
Terry sold 20% of STP to KWAP so market knows true value of STP

will bite or not?

Posted by chamlo > 2017-04-02 20:52 | Report Abuse

To reclaim land from sea is not a matter of 1 mth or 1 year work. It could take longer time whereas people invest in stock market do they invest that long?

Posted by enid888 > 2017-04-02 21:38 | Report Abuse

Apart from STP 2 reclamation, E&O has a lot of solid land. More than 300 acres in Gertak Sanggul (Penang), some land in STP 1, more than 130 acres in Elmina (Shah Alam), 2 pieces of land near to KLCC and 200 acres in Johor Baru.

STP 2A will be completed in second half of 2018. Nowadays, land reclamation is fast especially done by Chinese contractor. Their speed is very fast. If we look at other project, Forest City as a reference, it started reclamation in 2015. By today, one mall is aldy opened, many blocks of building is in progress now.

E&O planned to launch their first project in 2019.

Posted by enid888 > 2017-04-02 21:45 | Report Abuse

A lot of land purchased by IWCity is still covered with water and not reclaimed yet. We can checked this out from the news and articles.

Posted by property > 2017-04-02 21:52 | Report Abuse

Why not Tropicana? Only RM 1 and few thousand acres of land in KL, JB and Penang.

Posted by stockmanmy > 2017-04-02 22:39 | Report Abuse

E & O may be more boring
IWC may be more exciting.

but in long term , EO will deliver
IWC is exciting and political , but will not deliver.

Posted by PenguinDad > 2017-04-03 08:44 | Report Abuse

Sometime a future vision for more than 1 year is not viable unless you are a long term investor where buy and hold for years. If you have invest in 2009 than it is alright but now is 2017.

Posted by 360Capitalist > 2017-04-03 08:56 | Report Abuse

Market action will determine the price. I would say upside bias for the immediate future. The scarcity of land in surrounding area in Prime area like Gurney, Pulau Tikus and Tanjung Tokong will determine E&O future as it is the only player with land bank exceeding 100 acres in these prime areas. Nobody get close. Don't look at short term. Invest for 5to 10 years, you will see the land value appreciation above RM1000-3000 psf within this time frame. By the time, the land RNAV for STP2A, 2B & 2C is RM22.8B (RM1100 psf) upon completion in 2022, which is 10 times higher than E&O market capitalization of today. We have nothing to lose or invest with minimum risk if we can afford to hold for 5 years and potential for huge returns in future, maybe 10 times if we take into estimate GDV consideration of RM60B.

I am sure, this is the last piece of land reclamation near Gurney Drive, the only prime area in Penang, at least for next 20 years.

Posted by dusti > 2017-04-03 08:58 | Report Abuse

Hi enid888 I see how productive you spent your weekend. Good job! I have scaled down my triggers for holding E&O to Terry's two numbers 2.45 & 2.90 and KWAP' commitment to make money for their stakeholders. For today I'll focus on Benalec.
Have a great investing week!

Posted by PenguinDad > 2017-04-03 09:11 | Report Abuse

Is Benalac got the job not CCCC?

Posted by PenguinDad > 2017-04-03 09:12 | Report Abuse

saw sharlock analysis and KWAP paid at a up price tag of 540psf.

Posted by Kjsiah > 2017-04-03 09:56 | Report Abuse

Haiya sigh sigh. What ever you guys talk is 2 yrs late. Analysis done long time ago

Posted by enid888 > 2017-04-03 10:14 | Report Abuse

Agree with you 360Capitalist. Nobody in the Penang CBD (Georgetown) including Gurney Drive and Tanjung Tokong has land size of more than 100 acres. Therefore, E&O will be the biggest land owner in the CBD area with 760acres after the land reclamation is completed.

In fact, the Penang Government had estimated the land at RM1,300 / sq ft when they renegotiated with E&O on the reclamation two to three years ago. I would say this RM1,300 sq ft is reasonable estimate when the whole reclamation work is completed in 2022 ( 5 years from now). Meanwhile, when the first island is completed next year, it should worth between RM 800 to RM1,000/sq ft.

Posted by Junx Leow > 2017-04-03 10:31 | Report Abuse

For this RNAV RM6.10, sure will start to move slowly month to month !!!! just be patient !!! Q to Q will add extra revenue for sure !!
RNAV : RM6.10 (Affin Hwang, The Edge)

Posted by Junx Leow > 2017-04-03 10:39 | Report Abuse

price is stable now, and today will see green :p

Posted by enid888 > 2017-04-03 12:44 | Report Abuse

Dusti, I am sharing something that I know. It is good that one has his own target price. Nobody can know how high a stock will go or whether it will go up or not?

Posted by Kjsiah > 2017-04-03 15:48 | Report Abuse

trust me we all know this counter very very well. Many times already behave this way.

Posted by Kjsiah > 2017-04-03 15:49 | Report Abuse

The dive will be steep next

Posted by Junx Leow > 2017-04-03 16:15 | Report Abuse

today is cool down period from last friday, but well done and much better then expected, most people still believe this counter still good for invest !!! hope will be reward for all of u still holding this stock , short or long term ....

Posted by aabb333 > 2017-04-03 16:20 | Report Abuse

watching

Posted by Kjsiah > 2017-04-04 08:56 | Report Abuse

dear all, pls be careful. Kena kau kau many times

Posted by Junx Leow > 2017-04-04 09:48 | Report Abuse

go go go !!!! Today will break 2.0

Posted by dusti > 2017-04-04 10:46 | Report Abuse

I will keep this very brief, I actually like to do what you did on E&O, but I know the company usually defies the logic of numbers, and therefore expectations. E&O projects are huge; what is their market like? Are we going to buy their residences? Who else? What will be the developments around their projects? Most of all I want to know who flew the sophisticated drone (when I was having my hawkers' grub at Mt Eskine Road last week) over the hills and sea front. Big time competitors?
Doing better now so let's be happy! Cheers!