i dont need a good formula to analysis, i dont need to read the whole financial report (frankly speaking i also dunno how to read the financial report, i m very poor england char kuih teow apek only), i dont need to use 2B pencil to draw chart...i just buy & hold & like this also profit...haiz...
well said kchongnz. I cant believe how vain some of these people are. Technically I am surprised if the stock is not overbought. But FUNDAMENTALLY, the stock has rallied if you look at it from a ex rights perspective. Market cap has almost doubled from IPO when there has been no increase in earnings to show for. The company was forecasted to make 50 - 60 mil last year. It achieved 30 mil in non cash profit. According to the AMresearch report pre IPO that gave them 1.50, it is made on the assumption that there is no rights issue and no extra shares to dilute the com. Since the rights issue was 1 to 1. You have to use the oringinal share capital to value it based on the report. Rm1.50/2= Rm0.75. Target price achieved despite failing to meet earnings target.
Another issue that concerns me is that they have started SELLING LAND in smaller parcels in bayan mutiara. The company has always claimed that they have been such a genius in acquring such a promising land. Furthermore, their main partner in that project DIJAYA is also looking for buyers in a land close to KLCC as well. Disposal of land by developers is usually not seen in a positive light.
not necessary, there is no big deal as lands or properties are part of the investment and subject to disposal at good price. uemland etc... many others r selling land and buildings. these counters also buy land or properties from time to time. there is nothing wrong for properties company to trade land, building, apartment etc.
It is rare for developers to dispose land. Land generates higher returns when it is developed.Furthermore, selling land in bayan mutiara may even contravene the agreement signed between them and PDC.
Property prices might still be holding steady in the high end market but transations are going down in this segment according to the latest stats. Banks are paring down their exposure to housing loans. The future may not be as rosy as they think especially for a highly leveraged developer.
Report from RHB about PWC project: 1. Earnings impact will come from FY14 onwards. 2. The JV co is expected to obtain the A&P license in Aug. 3. Bookings will then be gradually converted into sales. The first phase of PWC Phase 1 (GDV of MYR610m) have achieved an average booking rate of 70-80% at an average price of MYR700 psf. 4. The recent preview of City Residence has also received an encouraging booking rate of 80%. 5. Land value on the Penang island is expected to rise further as IJMLD and E&O make announcements on their projects in 2H.
As share price performance since last quater: Ivory $0.505 (Feb, 21) to $0.775 (May, 21), up 53% Dijaya Corp $1.30 (Feb, 21) to $1.94 (May, 21), up 49%
impartiality, fundamentally, I don't think it is worth RM0.92. But you underestimate the market sentiment. These ppl here aren't in it for the long term. I wonder why are you so oppose to them buying and making money from there? Aren't we all here for the very same reason -- to make money? Sure, you've made your point that it may or may not be a good company. Heck, if they still decide to buy, why oppose their decision? After all, it is their risk, not your loss. Neither it is your gain.
Anyway, I finally took profit at RM0.77, while warrants at RM0.405. Only because I partially agree with impartiality (pun intended), that it may be overpriced. And I'm scared. Balls shrinking.
Constructive criticisms is different from opposition. I have never explicitly asked anyone not to buy. Ivory now has a higher P/E than Dijaya( a defacto parent company). This is certainly not a norm and it will converge at some point
At some point, yes... Technicals are good. Why stop now when :- 1. Momentum is present 2. Market sentiment is good 3. Retail participation is coming back 4. Property counters are going through a re-rating
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....
skyland
644 posts
Posted by skyland > 2013-05-18 07:00 | Report Abuse
my dog asking me to hold this rubish stock...hoh seh 2862