This counter has started caught eyes due to its RM10b property venture project at Penang's prime location. The project will take easily more than 5 years down the road. Looks like worth to enter now.
Bryan, you are right but that's fine if we are looking for long term. Buy and hold. There is plenty rooms for growing. Besides, the interest of buying for this counter is encouraging too. :-)
jack, that's good if you want to hold. But i am curious, why the shareholders want to dispose the shares? They are lack of money, maybe, just my guessing.
Wonder whether is it better to buy before the X- date, or buy when the rights are traded.
During Dialog and Yinson rights, the rights price when traded, dropped from the adjusted price.
I should think that M Flour rights may have more potential than Ivory, given that it is in the food business. What do you guys think ? The Adjusted price after rights, bonus for M Flour is 2.13
It had dropped from 63.5 cents to 58.5 cents right after the ex bonus & rights date....hope it wont drop to the 55 cents level for the price of the rights issue, hee, hee, hee
Agreed. I think it is good exercise now. The price will probably shoot up higher if the Penang state gov able to retain its control over the state in the coming GE. No chance for BN i think. :-)
99.9% the present Penang state government will retain Penang because of their good governing. In fact a few tycoons like Vincent Tan goes back to Penang for development projects after being absent from Penang for some time & he even had nothing but good praise & words for the present Penang state government.
It seems that Dijaya had come into play on the Penang multi-billion project with Ivory...seems a 60% to Dijaya & 40% to Ivory with the later being the turnkey contractor for the project.
Now, are we going to see better pricing with Dijaya coming in or perhaps go downhill?
Bayan Mutiara land – A game changer? On 25 July, Ivory announced that it has
received a letter of acceptance from the Penang Development Corporation (PDC) on its proposal to purchase 102.56 acres – of which 67.56 acres are existing land and 35 acres are to be reclaimed for a proposed mixed development – in Bayan Mutiara, Penang at the price of RM1.07bn. The Bayan Mutiara land has very high development potential, as it is sandwiched between two successful developments – IJM Land‟s The Light and CP‟s Queensbay – with direct access to the mainland via the Penang Bridge. With proper execution, the Bayan Mutiara land can transform Ivory into one of the largest property developers in Penang. We gather that it is expected to launch its first development on this land by mid-2012, which comprises high-rise residential project with an estimated gross development value (GDV) of RM527m Fully diluted RNAV of RM2.67, post-rights issue. Based on our RNAV estimates, we arrive at a fully diluted RNAV of RM2.67 after taking into account the rights issue exercise. However, we have not factored in the warrants conversion as we think it is very unlikely for the warrants to be fully exercised in the short to medium term. Pegging a 40% discount to our RNAV, which is inline with the average discount for its comparable peers, we arrive at a FV of RM1.60.
but i thought the deal is already DONE. Nothing UMNO Youth can do even though they ho ha on the deal, right? Wonder any link with the resignation of the executive director....
bro chong, thanks for the information. I would say the UMNO youth guy has done his job well as opposition party in the state. Let's see how the CM to deal with it.
A possibility because of the resignation of the executive director but the ho ha of the idiotic Penang UMNO Youth may have an effect even though the land deal is done.This UMNO Youth is now harping on that the Penang government had sold away the surau land which is part of the tendered land.......mind you the surau land is not a "stand alone" land. These people had nothing much to do but simply make some stupid noises to gain some cheap publicity.....wonder if they had ever know the full details of the land deal.
Yes, brother garytan88, very true indeed as you hit the nail on the head. This Penang UNNO Youth chief who incidentally is a pseudo Malay {mamak] just try to make some noises as the General Election is coming near & maybe he is just trying to attract the attention of the UMNO bigwigs. Remember he started saying that the land was not properly tendered and now he change his tune by bringing in the sensitive religious matters....too bad indeed. I do hope that YB Lim Guan Eng & the Penang state government sue him until his pants drop, hee,hee, hee. Let's wait for it to come.
Now read this....Mosque land issue: Penang Umno Youth slammed
and in between this, may I quote..
..Quote.
Mujahid (right), who described himself as a ‘pure’ son of Penang, accused state Umno Youth Shaik Hussein Mydin of “twisting” the issue.
He criticised Umno-owned Malay language dailies like Utusan Malaysia and Berita Harian for publishing inaccurate information regarding the issue from someone who saw himself as “a hero for the Malays” in Penang.
..UNQUOTE.
..now read the full story here below....click on the link please..
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....
jacklew
499 posts
Posted by jacklew > 2012-03-21 16:56 | Report Abuse
Anyone??