the group's announcement of its plans to establish and list on Bursa Malaysia's Main Market a commercial real estate investment trust (REIT) comprising assets at Mid Valley City and those along Jalan Tun Razak here.
Yesterday, IGB Bhd said in a Bursa filing that the initial portfolio of the proposed IGB Commercial REIT will comprise properties owned by IGB Bhd subsidiaries.
IGB Bhd said the properties within Mid Valley City to be included into the REIT known as IGB Commercial REIT are Menara IGB, Centrepoint South, Centrepoint North, The Gardens South Tower, The Gardens North Tower, Menara Southpoint and Boulevard Offices. The Jalan Tun Razak properties comprise Menara Tan & Tan and GTower.
IGB Bhd said the REIT establishment and listing entail the disposal by the subsidiaries of IGB Bhd of their interests in the properties to IGB Commercial REIT with the sale consideration to be satisfied through a combination of cash and issuance of new units in IGB Commercial REIT.
There's a lot of uncertainty in the share price and volume transacted until there is more clarity from the Co's announcement on the restricted offer and dividend-in-specie of its REIT units.
I personally prefer to buy IGBB-PA because of the cum dividend of 2.5sen and the automatic redemption and conversion to IGBB by 7 Feb 2019, whereby the converted share will also be entitled to the resticted offer and dividend-in-specie.
Apparently quite a lot of people but obviously less dining in . lots of outlet offer discounts to celebrate this coming festive season ... Shopping time for essentials .. Raya mood ...
Transformation is required for this company. Southkey cannot take off due to COVID, hotels affected, F&B affected, Hong Kong business affected, property leasing affected, project listing due, property development globally affected. They need a transformation leader in to the company to change ideas and direction.
QoQ deficit widening. Hope the leadership will announce direction and plan. Conventional ppl and ideas won't work anymore. If waiting for vaccine, earliest is March 2021 to deploy targeted. Till then what will be left of next 2Q
Will the market crash if budget 2021 cannot be passed this coming Thursday (26/10/2020)? These are the 4 possible scenarios:
1. Parliament will be dissolved and a snap election will be called 2. A state of Emergency in the whole country will be declared by YDPA 3. Muhyiddin will resign and YDPA will appoint an interim PM 4. YDPA will appoint a new PM who has majority MPs support. A new budget 2021 also will be tabled by the new appointed PM.
Will the market go down? Will it crash? Take profit now or wait?
3rd Q normally their strong Q but by absolute number immediately can be seen the profit is affected most. 23% revenue drop 3rd Q but staggering 45% PBT drop 2020 vs 2019. Where is the governance or is the company just looking at revenue? PBT drop double of revenue speaks volume about the diversification of the business they have which didn't work? or failure of governance in managing cost for a old company like IGB.
In short, a company must be able to transform and change for longer term with ability to strengthen bottomline. Not just diversifying and projecting new business revenue at the expense of profit. If that is the case, with a lot of money you can do that but you will not have business sustainability over time. This is a good example
My comment is not to criticise IGB but rather disappointed with them as I hv always seen IGB as a sustainable company apart from good business diversification and for new business acumen. I have not seen any announcement of their direction nor change in ways they conduct their business
ACD Ya, never thought IGB can be affected like that. Since MCO first lockdown in Mar till now is 3 quarters already. 2Q report already presented showing poor profit. Everyone can expect poor revenue but doubly poor profit is not acceptable for a seemingly good company. For a country 2Q decline is already recession. For a company, 2 Q decline with profit dropping double of revenue pointing to their ability of not adapting
Rajuan, then their business or IT need a revamp to more e type-business. Robinson also tutup. But i do agree the revenue vs profit drop too steep over 2quarter does suggest no meaningful action is done. They need to transform. Maybe a transformation team.
They need a dynamic team willing to explore technology not just BAU type of execution. Be like Tony Fernandez hahahaha. I am ordering every Thursday thru AA apps for free delivery
Hopefully a dynamic team or IT to lead the charge. But I doubt it. 3Q already and dont see anything. Either you are good in acquiring ppls business or you are good at starting up. If you can do both is the best. damacai also already doing the DMC Go but dont see the rest trying.
Yeap yeap. Your disappointment of IGB is akin to those who believe US was to lead on handling pandemic base on report in 2016 but failed miserable. Hahaha hope i didn't over exaggerated
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....
888newbie
180 posts
Posted by 888newbie > 2018-10-22 10:41 | Report Abuse
TCN, RIP.