Posted by Good_News > 2015-11-13 16:14 | Report Abuse

Coming Jesselton land disposal will bring RM 150 million and pare bank borrowings. Why sell down? Each time degearing exercise Ivory will make profit and reduce bank borrowings.

Posted by Good_News > 2015-11-13 21:17 | Report Abuse

Penang property market to be resilient on sustained demand

PETALING JAYA (Nov 13): Penang’s property market is expected to stay resilient on the back of sustained demand, especially from Penangites working abroad planning to return and prospective retirees eyeing homes in the state.

“There has been a slowdown in the last year. There are a few categories of investors in Penang; those who are owner occupiers, those who are investors for the cultural developments, those who are in the Malaysia My Second Home (MM2H) and Penangites who work abroad but would like to settle in Malaysia,” said Penang Institute CEO and head of economics studies Dr Lim Kim Hwa (pictured) at the National Real Estate Convention (NREC) 2015 yesterday.

“For the last two categories, the properties in Penang would be priced significantly cheaper, thus I believe the demand in the property sector in Penang would remain rather constant,” concluded Lim during his presentation entitled “Penang: The Next Metropolis”.

In terms of the wider economy, Penang is expected to register a 5% to 6% growth in its gross domestic product (GDP), outpacing the overall country’s growth by 1%, he said, noting that last year, Penang’s GDP grew by 7.4% while Malaysia’s grew by 6%.

According to Lim, Penang contributes 21.8% of the balance of Malaysia’s trade surplus, specialising in machinery, transport equipment and miscellaneous manufactured articles.

“Penang’s economy is more export-orientated, and now there is a better demand for electrical and electronic goods,” he said.

The export sector is expected to improve with the recovery of the US economy and the weaker ringgit, he added.

“It is important that Penang provides the best environment to attract more investments. Penang is the main manufacturing and economic hub for electronic and electrical items. Bayan Lepas is already full. It is important to provide more space for industrial growth.”

Some of the projects and initiatives that are expected to contribute to this growth is the IT-BPO at Bayan Lepas, BPO Prime at Bayan Baru and Changkat Byram, south of Batu Kawan.

Other projects that will benefit Penang overall include the Penang Transport Master Plan, Penang Heritage Arts District – Ilham Penang at Sia Boey, Creative Animation Triggers at Wisma Yeap Chor Ee, and Komtar refurbishment. “All of these projects involve the private sector,” added Lim.

“The Penang Transport Master Plan (PTMP) is the catalyst to [turning Penang into a] metropolis, as it involves alleviating a lot of the problems locally in Penang, especially traffic congestion,” said Lim.

Expected to be completed in 2030, the RM27 billion project would include amenities such as trams for the heritage zones, LRT for the island and mainland, and water taxis.

Lim said Penang is on track to achieving its metropolis status.

“It is an ongoing process, and there is no deadline. Penang aims to transform into an international, intelligent city filled with life. To create a great metropolis, it has to be unique, and it has to attract people to want to live and expand the growth of the city,” he said.

NREC 2015 saw more than 250 participants from the banking, development, property and consultancy industries.

NREC is organised by the Royal Institution of Surveyors Malaysia (RISM) and co-organised by the Association of Valuers, Property Managers, Estate Agents and Property Consultants in the Private Sector Malaysia (PEPS).

Themed “Homes For Generations – Redefining Development Trends”, the convention highlighted concerns for the future of the real estate industry in Malaysia.
http://www.theedgeproperty.com.my/my/content/penang-property-market-be-resilient-sustained-demand

Posted by BingBong > 2015-11-13 21:33 | Report Abuse

So good? Walao

Posted by HakChai > 2015-11-13 22:53 | Report Abuse

They saw E&O moving forward with reclamation, they saw Penang state govt award the underground tunnel, bypass and infra to Gamuda, now they see the 7.4% Penang GDP. Ivory-Tropicana want to get into the bandwagon, but they must remember E&O took 4-5 year to complete the DEIA to tender award

Posted by Good_News > 2015-11-24 09:19 | Report Abuse

Ivory go go go. Will make EPS 8.35 sen from Jesselton land disposal or PE only 5 at 42.5 sen. NTA will surge past RM 1. Still very cheap to buy now.

Posted by Good_buy > 2015-11-29 23:01 | Report Abuse

Latest QR is Ivory record high revenue meaning Penang property market still resilient despite property market slowdown elsewhere in Malaysia.
http://klse.i3investor.com/servlets/stk/fin/5175.jsp

Posted by DreamMaharaja > 2015-11-29 23:03 | Report Abuse

wolume small

Posted by robbin65 > 2015-11-30 12:03 | Report Abuse

Penang property market so resilient hor! Revenue so high hor! revenue record high hor! Then profit only 2 million. If market no resilient down the road what happen?

Posted by robbin65 > 2015-11-30 12:10 | Report Abuse

Before tax profit 2.6 million, after tax only left 845 thousand. This is result for record high revenue!

Posted by robbin65 > 2015-11-30 12:23 | Report Abuse

Kena con stupid fish wanted to con lagi stupid fish. But today all fish run away.

Posted by Good_buy > 2015-11-30 12:27 | Report Abuse

Actually profit figure can manipulate but not revenue. See AA revenue also record high but why heavy losses?

Posted by Good_buy > 2015-11-30 12:28 | Report Abuse

Perhaps earlier this year Ivory already made huge profit so latest QR reduce profit to normalize yearly profit for maybe tax purpose.

Posted by carilembu > 2015-11-30 12:29 | Report Abuse

ivory kurang untung punya syarikat, nanti property market down, lagi rugi

Posted by richkid1 > 2015-12-06 07:07 | Report Abuse

Next year Ivory can book RM 38 million net gain from Jesselton land sale or EPS 8.53 sen and at the same time reduce bank borrowing RM 40 million. It can reduce interest expense of RM 3.5 million per annum or equivalent to 20% TTM profit this year.
http://www.bursamalaysia.com/market/listed-companies/company-announcements/4910037

Posted by Good_News > 2015-12-24 13:16 | Report Abuse

Tropicana Ivory looks to China buyers
http://focusmalaysia.my/Assets/Tropicana%20Ivory%20looks%20to%20China%20buyers

Posted by impartiality > 2015-12-31 00:31 | Report Abuse

The Jesselton land has no access and it is also the subject of a litigation process. Court proceedings can take years and they cant sell the land until the litigation process is completed. Please read the announcement carefully

Posted by bullethabis > 2016-01-06 15:18 | Report Abuse

company still ok. fundamental also ok.

Posted by ivory > 2016-01-18 08:17 | Report Abuse

If Ivory decide to cash out of their Penang World City(previously Bayan Mutiara) they can sell land at RM 1,300/sq ft(5.42 times original price)? This(land price) is base on latest Ewein purchase of Tanjung Sri Pinang land. If Ivory does sell 100% meaning their profit on land sale become RM 2.166 billion(effective 49% stake currently) which is about 12.8 times their current market capitalization.

http://www.thestar.com.my/business/business-news/2016/01/16/ewein-gets-nod-to-buy-bandar-tanjung-pinang-land-for-rm28bil/
http://www.thestar.com.my/news/nation/2012/02/18/bayan-mutiara-land-sale-was-through-open-tender-ivory-properties-clarifies/

Posted by robbin65 > 2016-01-18 10:15 | Report Abuse

That Banyan Mutiara land cost 1 billion, to be paid starting 2012 in 5 installment to Penang Gov.
Each installment is around 200 million, to be paid each year over 5 years perod. Question: How many installment Ivory already paid, any default on payment so far? What if default payment, land revert back to Penang Gov or what? Where Ivory can find 100 million per year? I assume Tropicana can help 100 million per year since they now partner each other. I have no doubt Tropicana can finance the 100 million but it is very questionable how Ivory able to gather 100 million a year to pay installment. Any new? hello the upstair ivory commentator!

Posted by richkid1 > 2016-01-18 10:30 | Report Abuse

robbin65 why not ask Dato Low Eng Hock to sell Bayan Mutiara land to Ewein at say 10-15% discount to RM 1300/sq ft(what Ewein paid). At least the land is available now unlike Tanjung Seri Pinang which is yet to reclaim. Cash proceed better pay to us as dividend like what Farlim did. robbin5 why no such question on Ewein financial capabilities?(RM 2.83 billion is not small amount).

Posted by richkid1 > 2016-01-18 10:33 | Report Abuse

robbin65 if you read Ivory Bursa announcement they have their own degearing exercise like selling of Aspen and Jesselton land so at least they are in better financial situation than Ewein.

Posted by richkid1 > 2016-01-18 11:01 | Report Abuse

Development slow because previously the land was occupied by Malay villagers so take time to remove them.

Advantage of Penang island developer is due to shortage of land, land price can only go up. If ask S'porean and Hongkie Penang property is still cheap compare to their property so land transaction at RM 1000/sq ft is not a surprise for years to come.

Posted by richkid1 > 2016-01-18 11:05 | Report Abuse

Tropicana also have problems of their own. I would prefer IJM(Light project nearby), Ecoworld or Mah Sing take over Ivory.

Posted by Icon8 > 2016-03-11 11:12 | Report Abuse

Good news today?
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5027029

Posted by Icon8 > 2016-03-20 09:55 | Report Abuse

Director buying. Good news(QR) ahead?
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5029369

Posted by Icon8 > 2016-03-20 10:03 | Report Abuse

If compare GOB which is in red ink, Ivory has performed better(TTM EPS 2.33 sen) despite 10 sen cheaper than GOB.

Posted by KCGOH1234 > 2016-03-20 10:54 | Report Abuse

ivory - lousy company. the wave in penang times sq already launched > 4 yrs, now work in progress just 5%

Posted by KCGOH1234 > 2016-03-20 10:56 | Report Abuse

ivory - their m-mall, is a lousy cheap malls. merely a redemption place of M points ( bit coins), where they "joint-venture" with money laundering big bosses in Malaysia-Thai border. not genuine sellers in the mall, very cheap style, and all goods are significantly inflated for their "members" to make redemption.

Posted by KCGOH1234 > 2016-03-20 10:56 | Report Abuse

ivory - Bank Negara should intervene on the so called "currency" used in the mall. Money Laundering element & multi level marketing ( some sort of Zhang Jian) ponzi elements are involved.

Posted by KCGOH1234 > 2016-03-20 10:58 | Report Abuse

good luck to all shareholders and potential one to associate yourself to a bad character major shareholders and possibly money laundering business. Their gearing is so high, look at the wave, work progress is slower than a tortoise speaks everything. Go and have a look, book value calculation is secondary in investing.

Posted by Icon8 > 2016-03-20 13:38 | Report Abuse

KC I saw your postings about Aspen and Star also highlighted them. Has Aspen settle all debts to Ivory since you concern about Ivory gearings?

Posted by Icon8 > 2016-03-20 13:50 | Report Abuse

http://www.thestar.com.my/business/business-news/2016/03/19/the-rise-of-aspen/

Posted by Good_News > 2016-03-20 21:38 | Report Abuse

Affin: Property sector could see a turnaround
http://www.starproperty.my/index.php/articles/property-news/affin-property-sector-could-see-a-turnaround/

Posted by KCGOH1234 > 2016-03-22 15:39 | Report Abuse

Icon8 - Aspen in fact are secret holdings of Low Eng Hock. Transaction between Aspen & Ivory in fact left pocket to right pocket. Yilai the victim, what a pity.

Posted by KCGOH1234 > 2016-03-22 15:41 | Report Abuse

so many good property stock, dont waste time on this gangster co. Seat there, buy a popcorn and wait it goes bankrupt. Go to buy HK or SG property stock which are at deep discount and run by trustworthy tycoon. I dont need to name it.

Posted by Icon8 > 2016-03-28 21:12 | Report Abuse

KCGOH1234 I buy stock to make money just like some people invest in property. Yes there are many property stocks in Bursa but they are not as cheap as Ivory eg Ecoworld, Mah Sing, Hua Yang, Sunway and many others. If you recall past 5 years Ivory even reach RM 1 so buy low and sell high is way to make money. I think once Penang World City and Times Square project get full momentum Ivory can make much higher profit in future.

Posted by Icon8 > 2016-03-28 21:14 | Report Abuse

Tropicana Ivory real estate negotiator Daniel Loh (second right) briefing visitors at the booth.
Rosy outlook for Penang properties
http://www.thestar.com.my/metro/community/2016/03/28/rosy-outlook-for-penang-value-of-properties-likely-to-increase-further-say-house-hunters/

Posted by KCGOH1234 > 2016-03-31 12:46 | Report Abuse

Icon8 - am sure you are not penangite. One phrase to share with you - Stupidness has no medicine to cure. All are your imagination, Penang property price is at its peak. And you invest money in this super lousy company, let's us seat back and wait Ivory drops to RM 0.10 / or RM 0.01 perhaps bankrupt. RM 1 - day dreaming.

Posted by kcgoh1234 > 2016-04-24 10:07 | Report Abuse

http://combatingillegalpyramidscheme.blogspot.my/2016/01/mbi-mface-gameover-teddyteow-arrested.html

Posted by kcgoh1234 > 2016-04-24 10:09 | Report Abuse

=m mall in penang times sq =ivory =teddy teow =lowenghock =illegalpyramid = crime = arrested

Posted by kcgoh1234 > 2016-04-24 10:10 | Report Abuse

doubtful about ivory's corporate governance. Bank Negara should go in and investigate. Money Laundering elements. Ministry of Consumer affairs should go in and investigate the currency used inside the mall, and inflated price of goods sell, also no price tag. This is M Mall in Penang Times Sq.

Posted by Icon8 > 2016-04-24 10:13 | Report Abuse

kcgoh1234 if what you said is true why 2 Ivory directors(Lim Hock Siu & Loh Chye Teik) bought past 1 month. You know Ivory more than them?
http://klse.i3investor.com/servlets/stk/annchdr/5175.jsp


kcgoh1234 Icon8 - am sure you are not penangite. One phrase to share with you - Stupidness has no medicine to cure. All are your imagination, Penang property price is at its peak. And you invest money in this super lousy company, let's us seat back and wait Ivory drops to RM 0.10 / or RM 0.01 perhaps bankrupt. RM 1 - day dreaming.

Posted by kcgoh1234 > 2016-04-24 10:15 | Report Abuse

investment community should also punish this kind of company and lower down its market capitalisation before the news of arrest appears a day.

Posted by kcgoh1234 > 2016-04-24 10:22 | Report Abuse

Icon 8 - lets comment on this in d future, when ivory is 10 cents, remember what i said when it reaches this level. don't be so childish, Lim bought with RM 10k, what is RM 10k? Loh also invest only roughly RM 30k, he needs shareholdings to receive big pay cheques as a director, my child. Unless directors buy value like RM 10 million of shares, which is counted as buyback. RM 10k RM 30k, what the mess is it.

Posted by Icon8 > 2016-04-24 10:23 | Report Abuse

kcgoh1234 nobody force you to come here if not interested. I see your comments all negatives. Just put your money in FD.

Posted by kcgoh1234 > 2016-04-24 10:27 | Report Abuse

Icon8 - I am giving u money by asking you to sell. All my money not in FD, but all in great enterprise, Tencent since it is HK 50 and keep buying till now. Brother is giving you money, get rid of cheap ivory.

Posted by Icon8 > 2016-04-24 10:29 | Report Abuse

I have yet to mention Dato Low Eng Hock who still own 55% Ivory. If he know Ivory will drop that low why not he sell?

Posted by kcgoh1234 > Apr 24, 2016 10:22 AM | Report Abuse
Icon 8 - lets comment on this in d future, when ivory is 10 cents, remember what i said when it reaches this level. don't be so childish, Lim bought with RM 10k, what is RM 10k? Loh also invest only roughly RM 30k, he needs shareholdings to receive big pay cheques as a director, my child. Unless directors buy value like RM 10 million of shares, which is counted as buyback. RM 10k RM 30k, what the mess is it.

Posted by kcgoh1234 > 2016-04-24 10:41 | Report Abuse

Icon 8 - Child, not Eng Hock doesn't want to sell. Is nobody wants to buy his 55% stakes, my child. Trade and other receivables 199m + cash 85m = 284m minus borrowings 264m, payables 241m = DEFICIT of 221m. Mkt cap is a pitiful RM 160.2m. You wants to pay RM 160.2m to take over DEFICIT of 221m is it, my child.

Posted by kcgoh1234 > 2016-04-24 10:48 | Report Abuse

mkt cap dropped from 530m to mere 160m within 5 yrs speaks louder, no dividends since listing, high level of debt, bad reputation in penang but a famous soju nightclub operator, anchor mall work closely with illegal pyramid scheme, Can let out the HQ and rent to mcD, slow progress of major projects slower than tortoise ( Penang World City and The Wave). In penang hokkien, what LJ LP company is this, buat malu saja.

Posted by Icon8 > 2016-04-24 10:58 | Report Abuse

Price drop because Ivory spent a lot of money buying Bayan Mutiara Land(to develop Penang WorldCity project) and develop Penang Times Square. When the 2 projects completed will start to see profit and cash come in.