Lee Tai who on earth will beleive you when you have the audacity to claim that Penang Times Square is fully sold. You lack even the most basic lesson in how to lie. Half the retail lots are not even open. I am sure photographs can be posted somewhere. Even a 10 year old will not believe such a white lie. It is a white elephant and will continue to be. In fact , it is the first new mall in Penang that flopped. There are malls in disrepair in Penang such as one stop but it only reached such a state after a few years. Penang Times Square is the only mall in Msia that I know of that opened half empty without any excitement. It is unsual or almost unheard of for a new mall to open half empty in such a central location. Kudos to the management for that
Sold does not mean the purchasers will set up shop. There are investors who wants a quick flip, which obviously didn't happen. Learn that. Your general knowledge is somewhat lacking. No offence, but I'm sure you'll take that personally anyway.
Haha. They dont even have a controlling stake in World City. 45% voting rights and still want to boast. Come on. They dont even have control over the project. Dijaya is basically the major decision holder of the project and they will decide how much revenue will be recognized. The company was full of promised when they won the tender for World city. They may have 51% percent share in the JV but now Nanyang is saying that they have only 45% VOTING RIGHTS for the project. What happened. Please not that equity ownership and voting rights are two different things. It is possible for someone to have more voting rights than the percentage of shares they own. For example, Mark Zuckerberg in Facebook has more than 50% voting righs despite only owning 30% of shares
impartiality, what do you think what Cold Eye sees which we don't see in Ivory. He is still saying good things about Ivory; un-billed sale lah, Bayan Mutiara lah.
Kchongnz, Coldeye privately admitted that he lost money in Ivory to someone I know. Well Nanyang confirmed my concerns that Ivory have ceded control to Dijaya on the Bayan Mutiara project. 45% voting share mean that Dijaya is in control. Questions are being raised on why due dilligence was not done by the state govt before awarding them the project. Chances are that Ivory may lose bayan mutiara entirely if their cashflow does not improve.
lmf_hau. Equity ownership and voting rights are TWO DIFFERENT issue. I do not dispute that Ivory has 51% in equity but they own a different class of shares that give them only 45% voting rights. Read the Nanyang article carefully. 45% voting righs( 股权)for Ivory only. It is not uncommon for someone to own more than 50% of a company but has less than 50% voting rights. Venture capitalists normally demand higher voting righs. Some venture capitalists invest 30% equity and demand 51% voting righs. It has happened before. What really matters is how much voting rights a party has. Ivory in this case may own 51% of equity but Dijaya will be calling the shots in major decisions since Dijaya has 55% voting rights.
Also planning to build mixed development at 2nd bridge crossing, that is hot spot when they bot the cheap land 3 years ago and now their land is gold. Stock price could be higher or par with Tambun. Dato Low is a smart person.
chua...ivory will pay the land cost to state gomen stages (if not mistaken 5 instalment for 5 years)...no worry on the payment...& the land was deal at RM240/ft...consider fair price & fore see a good deal
No issue on land financing...now the issue is DAP must maintaince the state gomen...this is the reason project was prelaunch without any advertisement before GE13 due to sensitive on political issue but 90% was sold on 2 block launch...june2013 will kick start on building & big launching
Cold eye commented that I is a safe stock to buy, buy when is low, keep for a year as long NTA is 0.80 (Re-value 0.95. I call it a small cap stock but managed very well.They maintain a cash position of 29mil.
Chia88, very simple as I mention b4, I will collect the share when no news out. I will sell the share when good news out. After force selling over I will collect back the share n keep for another push up. In this few days is the best time to buy back Tambun due to election sentiment. Smart trading rule, when all people strong sell when must kan kan buy. Then the changes to win should be very high......
In the stock market, if you know just a little bit and go and punt a penny stock, it is very very dangerous. Knowing how to read and interpret financial statements is very important to invest in the business of a company.
Tq kcchongnz for ur concern. For what I see a 204 millions company which has been making profit n has accumulated a positive balance (profit) of about 131 millions looks good enough.
in Q212 rpt, The increase in profit before tax was mainly due to the recognition of fair value gain and negative goodwill amounting to approximately RM36.6 million arising from the acquisition of IVSB.
vinvin, go read the posting of somebody by the name of impartialty in this thread. I don't know what is his motive of his postings, but my opinion is he provided the best insight about Ivory. If you are interested, also read my analysis of its financial statements in this thread which I expressed great concern about its financial shenanigans. Of course also read others who have positive views about this stock, including Cold Eye. Then analyze yourself; go look at their projects if you are in Penang. Then you would be able to make an informed decision.
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....
impartiality
468 posts
Posted by impartiality > 2013-04-08 18:52 | Report Abuse
Lee Tai who on earth will beleive you when you have the audacity to claim that Penang Times Square is fully sold. You lack even the most basic lesson in how to lie. Half the retail lots are not even open. I am sure photographs can be posted somewhere. Even a 10 year old will not believe such a white lie. It is a white elephant and will continue to be. In fact , it is the first new mall in Penang that flopped. There are malls in disrepair in Penang such as one stop but it only reached such a state after a few years. Penang Times Square is the only mall in Msia that I know of that opened half empty without any excitement. It is unsual or almost unheard of for a new mall to open half empty in such a central location. Kudos to the management for that