Posted by enid888 > 2018-06-14 13:21 | Report Abuse

Keeping 11.57% and being a passive investor in E&O is meaningless to Sime Property. Sime Property has to either sell the shareholdings away or increase its stakes. Sime Property bought the shares about 5 years ago at RM2.30 a share. It means Sime Property will be making losses if they sell them away at the current price. They also risk being looked foolish when the share price climb to a much higher level in the next few years.

Why Sime Property had bought into E&O at RM2.30 a share in 2013 in the first place? They must have hired professionals to calculate, performed due diligence and found out that it worth more than RM2.30 a share. I think Sime Property should take advantage of the current low price level to increase its stakes or talk to Lembaga Tabung Haji if they intend to sell its stakes. Lembaga Tabung Haji was seen reducing its shareholdings in the open market recently.

Posted by Administrator > 2018-06-14 15:03 | Report Abuse

Nice

Posted by enid888 > 2018-06-15 23:38 | Report Abuse

@dusti, the statutory funds like EPF, Lembaga Tabung Haji and KWAP are taking quite significant positions in E&O. Among the three, KWAP has taking even more aggressive stance by participating directly into the developments of STP2. The first project that is scheduled to be launched in the next 6 to 9 months in STP2 will be a JV between KWAP and E&O.

Posted by alectay > 2018-07-04 15:44 | Report Abuse

sad, dropped

Posted by wisdomtot > 2018-07-06 09:58 | Report Abuse

hentam a bit 1.43 to 1.45..see got luck or not..

Posted by RVI123 > 2018-07-23 15:21 | Report Abuse

E&O becomes active and moves up to RM1.57, up 5 Sen.

Posted by enid888 > 2018-07-24 03:01 | Report Abuse

More than 10 years ago, companies are allowed and encouraged to revalue their landbanks. Therefore, the NTA would reflect the actual market values of the landbanks. However, the subsequent FRS (Financial Reporting Standards) by Bursa requires the landbanks to be carried at cost. This new requirements is suitable for companies who bought lands for immediate developments like SDB, Hua Yang, MCT, Thriven and Sunsuria.

However, there are some companies that bought their development landbanks and keep them for a long time, between 10 years to as long as 40 years in some cases. The NTA in this type of companies is grossly underestimated. As the NTA does not show the true picture of the company, the financial analysts then create a new term for the actual NTA when the current market values of the properties are calculated. They name it RNAV (Revised Net Asset Values). In fact, the RNAV is actually the NTA of the development companies.

I would say Bursa has set the wrong FRS and enable the property counters to grossly underestimate their NTAs and hence artificially suppress the share price of the property counters. The major shareholders are very happy with this because they can buy back the shares from the market either in their personal capacities or company share buybacks at very low price. That is the reason that there were so many privatisations taken place in these few years in property counters.

This includes Hunza, OSK Property, PJ Dev, Wing Tai and a few more. The two ongoing mandatory general offers are TA and TAGB. The major shareholders are taking advantage of the wrong situations and ignorant of the general retail shareholders. If Bursa Malaysia does not revise the FRS and corrects the situations, more and more companies will be privatised. The counters that fall into this catogery are E&O, MKH, Paramount, Oriental, TA, TAGB, KSL, Tropicana and some others.

Many of the retail investors do not have the financial knowledge and are fooled by the wrong situations. For me, I am equipped with the financial knowledge and many years of experience in Bursa to witness and realise the wrong development took place.

Posted by alectay > 2018-07-24 15:48 | Report Abuse

Thanks for sharing

Posted by Money1188 > 2018-07-24 15:55 | Report Abuse

Thanks for sharing. It help us to improve our financial knowledge

Posted by raymondlct126 > 2018-07-25 14:02 | Report Abuse

enid888 thanks for sharing.

Posted by dusti > 2018-07-28 04:52 | Report Abuse

hi enid888 , by your reckoning (as insider?) E &O should be zooming towards 2.30 + for Sime to break even or better . Was hoping for management to make some bullish announcements soon.......but....................

Posted by Money1188 > 2018-07-30 19:58 | Report Abuse

How come today down so much again

Posted by enid888 > 2018-07-31 16:38 | Report Abuse

@dusti, I am self employed, not working in corporate.

Posted by dusti > 2018-08-02 04:43 | Report Abuse

E&O has given a share dividend of 1:50, equivalent to 2 sen/ share. Company must be strap for cash. J

Posted by coffee > 2018-08-11 12:54 | Report Abuse

tqq enid888, will be following yr posts closely. hope u posts more ;)

Posted by enid888 > 2018-08-12 09:35 | Report Abuse

@coffee, it is good to share and obtain valuable information on i3 platform.

Posted by RVI123 > 2018-08-19 14:51 | Report Abuse

Aminvestment upgraded E&O from "hold" to "buy". Target price is RM2.01.

https://www.thestar.com.my/business/business-news/2018/08/17/eo-upgraded-to-buy-from-hold/

Posted by Yael Jasper > 2018-08-20 10:52 | Report Abuse

Price will gap up this morning, good luck to all and enjoy the rollercoaster.... hehe

Posted by TKP9966 > 2018-08-21 17:29 | Report Abuse

good news but price nv up ?

Posted by enid888 > 2018-08-23 01:09 | Report Abuse

Generally, STP2A has been completely reclaimed and all the land titles have been issued. E&O sold 6 plots of land (bulk sales) to the Tier 1 pioneer investor KWAP at discounted prices (about RM500 to RM550 per sq.ft) about 2 years ago. That land sale was carried out to bring in cash to finance the ongoing reclamation work then.
With the land plots can be physically witnessed now, E&O targets to sell some of the remaining plots to potential building owners or developers at the prevailing market price which I think should be between RM700 to RM900 per sq.ft). Preference will be given to potential buyers who intend to develop the land fast and preferably with iconic buildings.

Posted by enid888 > 2018-08-27 18:30 | Report Abuse

Another general offer today

Daiman

Major shareholder offers to buy at RM3.00 a share. Last trading price was RM2.17 per share. The offer is 38.2% higher than the last trading price. This is the proof that property counters are trading at "lelong" price just like E&O.

Posted by dusti > 2018-09-18 15:51 | Report Abuse

enid888 so why is E & O on skid row?

Posted by ks55 > 2018-09-19 12:16 | Report Abuse

I like E&O
Start buying at 1.31
Will buy all the way down to 1.00





勇者 创造机会
智者 把握机会
愚者 找不到机会
死者 (絕望者) 永遠沒有机会

Posted by ks55 > 2018-09-19 12:21 | Report Abuse

I am not asking you to buy.
If you buy at 1.31 and below, surely you are unlikely to lose money.

I will not tell you to buy only after E&O already move up by 20%.
That is not noble, and not doing thing in good faith.
You should know whom I am referring to.........

Posted by BN_must_lose > 2018-09-19 12:23 | Report Abuse

KWAP fund managers lousy. When pay RM 1.9-2 for 1.3 stock? Cut pension for their loss.

Posted by BN_forever > 2018-09-19 12:29 | Report Abuse

BN ctr? Wait below RM 1 or GE15 buy.

Posted by bankrupt > 2018-09-19 14:53 | Report Abuse

Go bankrupt.

Posted by k55s > 2018-09-20 15:36 | Report Abuse

Stupid people buy bankrupt stock. Why not wait below 50 sen?

Posted by ChongKetPen_ > 2018-09-27 12:43 | Report Abuse

Saw their house sinking under sea. Pls avoid buying.

Posted by sell > 2018-10-02 22:44 | Report Abuse

Property must reduce price by Oct-end. Run asap. Loss QR coming?

Posted by egearcentral > 2018-10-03 14:16 | Report Abuse

Almost all construction stocks kena... but good for everyone as property price coming down...

Posted by RVI123 > 2018-10-03 16:56 | Report Abuse

@ChongKetPen, what do you mean by sinking under sea?

Posted by ChongKetPen_ > 2018-10-04 15:09 | Report Abuse

Sinking house where got good? Keep cash better why buy property?

Posted by ks55_ > 2018-10-10 11:45 | Report Abuse

Terry Tham pledged securities to be sold soon. Run. 60 sen coming.

Posted by ks55_ > 2018-10-14 02:01 | Report Abuse

OTW to Holland. Run. 60 sen by Dec.

Posted by freddiehero > 2018-10-14 09:31 | Report Abuse

very deep blue sea

Posted by ks55_ > 2018-10-15 10:43 | Report Abuse

Holland OTW(50 sen). Run as fast as possible haha.

Posted by sell > 2018-10-15 22:01 | Report Abuse

Idiots buy now. Smart people sell. Why cannot wait 50-60 sen buy back?

Posted by donald770 > 2018-10-18 14:35 | Report Abuse

This counter has been on its down trend since August and wonder whether it has reached its bottom? Bearing in mind its asset mainly around Penang. Your opinion pls.

Posted by ks55_ > 2018-10-20 11:47 | Report Abuse

Just visited their showroom. Sales very bad. More employees than customers. How to survive? 60 sen OTW. Run.

Posted by ks55_ > 2018-10-21 10:11 | Report Abuse

I earn RM 2500 per month. Every mth buy 2K shares. Drop more buy more until 12 sen buy 20K. So drop more is better.

Posted by RVI123 > 2018-10-21 23:25 | Report Abuse

@ks55, you visited Sri Tanjung Pinang showroom?

Posted by laosai > 2018-10-23 09:39 | Report Abuse

1.15-1-0.8?

Posted by 4444 > 2018-10-23 15:50 | Report Abuse

Boh chow c ah. 50-60 sen coming?

Posted by alectay > 2018-10-24 09:38 | Report Abuse

spend too much on share buy back, trap

Posted by bankrupt > 2018-10-24 15:13 | Report Abuse

After money run out lausai(cirit birit) likely. Run. 20 -30 sen coming.

alectay spend too much on share buy back, trap
24/10/2018 09:38

Posted by BanyakSui > 2018-10-26 11:39 | Report Abuse

Everyday low price like Tesco. 11 sen the lowest? Only idiots buy now.

Posted by BanyakSui > 2018-10-26 11:40 | Report Abuse

Unbilled sales lowest among property companies. While anal-list like Affin idiot?

Posted by newbie4444 > 2018-10-27 22:23 | Report Abuse

No wonder Affin Bank stocks keep dropping and lowest among banks. They hire idiots anal-list?

Posted by newbie4444 > 2018-10-28 22:34 | Report Abuse

90 sen-RM 1 by Friday? By year end 50-60 sen?