Posted by Noni > 2017-06-23 00:50 | Report Abuse

http://www.theedgemarkets.com/article/s-p-setia-take-over-ip-group-rm365b

Cash call ....aiyo, shareholders to pay

Posted by windcloud > 2017-06-23 00:58 | Report Abuse

This time Spsetia sure will fly to RM4 and above. I had noticed some interesting that MIDF had released TP on 21/6 at 4.03 and then that day price started moved and this is some accumulation done this few days.

The new today also quite interesting:
- RCPS 5.93% think quite attractive
- I&P group purchased at nearly 40% discount
- Australia project development and management income

Think soon will cross over RM4.00.

Posted by ks55 > 2017-06-23 09:16 | Report Abuse

SP Setia and I&P, which one should have better valuation?
Why? No need to have rocket science calculation to figure out.

So is the deal fair to SP Setia minority shareholders?
Who actually benefited from this deal?

Try to recall when Sime Darby bought over UEP.
How can they equate Sime Darby worth only 3 times valuation of UEP?
Similar logical argument with SP Setia and I&P deal here.

So what are you waiting for?
Wait for RI?
Wait for your money being taken and given to someone else?

Take the proceed from SP Setia and go for better alternative.
If you still have confidence in property counters, why not go for Crescendo, Plenitude, Daiman or even E&O?
At least you get value for your money.............

Posted by mamatede > 2017-06-23 10:08 | Report Abuse

That is what stocks suppose to be, it is a place to raise cash without expensive interest from banks and etc. But when a company need to expand, make cash call minority scare and run.. stupid?

Posted by nikicheong > 2017-06-23 10:20 | Report Abuse

Short term always depressed with a rights issue unless it is a totally high flying company which is continually ever expending. Just common sense lah.

Posted by ks55 > 2017-06-23 10:25 | Report Abuse

Total asset 7,100m
Total gross profit 45m
ROI gross 0.633%

So you still expect I&P to contribute to enlarged SP Setia ?

Posted by ks55 > 2017-06-23 10:29 | Report Abuse

Please note, total asset inflated to reflect current (not sure is realizable value) market value, borrowing and other liabilities yet to take into consideration.
Detail account not provided mah.........

Posted by ks55 > 2017-06-23 10:30 | Report Abuse

why not go for better alternative rather than seeing money taken out of your pocket ??????????

Posted by windcloud > 2017-06-23 10:35 | Report Abuse

ks55, I&P net assets 7,100 million = 7.1 million ? Spsetia paid 3.65 billion right ?

Besides, need to check with you:
- Market value of existing land bank
- estimated GDV for I&P existing land bank

As a businessman, paying 3.65 billion whereby the market value of land bank and GDV value to be released will be much more value than 3.65 billion.

Posted by windcloud > 2017-06-23 10:35 | Report Abuse

7,100 million = 7.1 billion *****

Posted by ks55 > 2017-06-23 10:40 | Report Abuse

You know how to read financial statement?
Read it yourself.......

Posted by ks55 > 2017-06-23 10:42 | Report Abuse

Not net tangible asset lah.
Read carefully to understand the financial statement..........

Posted by Mohd Fahmi Bin Jaes > 2017-06-23 10:42 | Report Abuse

tp 4.20

Posted by Mohd Fahmi Bin Jaes > 2017-06-23 10:43 | Report Abuse

SP SETIA - Formalises I&P Acquisition
Source : PUBLIC BANK, Price Call : BUY, Price Target : 4.50
Last Price : 3.57, Upside/Downside : +0.93(26.05%)

Posted by ks55 > 2017-06-23 10:48 | Report Abuse

You trust Public Invest Anal-list?
They will bring you to holland right here, right now.........

Posted by ks55 > 2017-06-23 10:48 | Report Abuse

Moreover, I&P sales personnel job ethics and professionalism simply useless.
Go to Kinrara or Bayuemas sales office to see the way they entertain client.
Compare the way SP Setia sales personnel doing their job in Setia Alam sales office.
You will see a world of difference between the two........

Posted by drt6398 > 2017-06-23 11:05 | Report Abuse

Most important thing..Are you still holding spsetia share @ks55?

Posted by DarkNight > 2017-06-23 11:07 | Report Abuse

Mega sales!!!!!!!

Posted by drt6398 > 2017-06-23 11:09 | Report Abuse

Quoted from theedgemarket

The group’s fundraising proposal involves a renounceable rights issue of new shares, renounceable rights issue of a new Class B Islamic redeemable convertible preference shares (RCPS-i B), and a private placement of new shares, with each exercise expected to raise RM1.2 billion.

The RCPS-i B has a profit rate of 5.93% a year, is non-callable for the first five years, and will be convertible to ordinary shares at a conversion ratio to be determined later. Its entitlement basis and the issue price will be fixed at a later stage, S P Setia said.

Posted by nikicheong > 2017-06-23 11:15 | Report Abuse

windcloud, rnav =/= nta.

Posted by ks55 > 2017-06-23 11:16 | Report Abuse

Bought and sold many times.
I like SP Setia, but not now.

To buy over I&P is a very bad business decision.
How sure after the deal, I&P old hands will take over SP Setia management with all useless fella running the show?

I&P allocate very few residential units to non bumi buyers.
So non bumi very hard to buy, many times experience with the Bayuemas sales personnel.
Bumi always give more than 7% discount, and they are asking for more.
If you buy into Bayuemas, be ready to get bumi neighbours.

Denai Sutera in Kinrara is not selling well.
Now they are selling (bumi lots?) to non bumi.
Still got about 30 units or so and they are now hanging over keys and vacant possession to buyers.
Visited the sale office, almost vomited blood.......

Posted by ks55 > 2017-06-23 11:21 | Report Abuse

Most recent transaction was sold SP Setia at 3.99 on 22 May 2017......

Posted by johnyeoyeo > 2017-06-23 11:26 | Report Abuse

ks55 so better avoid at the moment??

Posted by ks55 > 2017-06-23 11:30 | Report Abuse

Can try you luck at 2.50
Be prepare to buy more at lower price.

With I&P, I will only go in with sudden fall (not now) with big volume......

Posted by johnyeoyeo > 2017-06-23 11:31 | Report Abuse

thanks

Posted by johnyeoyeo > 2017-06-23 11:31 | Report Abuse

ks55

Posted by windcloud > 2017-06-23 11:49 | Report Abuse

ks55 just now tried to top up spsetia shares. will revert you in shortly. NTA or NA only difference is about ITA. Anywhere, what I am concerned is Spsetia buying I&P the land in Klang Valley and JB amounting to 4,279 acres. This market value is more worth than the price Spsetia paid for. If you calculate by psf you will get about 17 psf for the land bank. The GDV value psf is far more than this.

I don't think Spsetia will fall more, think this is time for collection. If you know the klang valley and JB area the sales psf, you will know how potential the land bank value will generate the future GDV for Spsetia new township in that area.

Just know tried to sell some shares to buy Spsetia. If got time will explain you the GDV value for the land bank I&P have now.

Posted by windcloud > 2017-06-23 11:53 | Report Abuse

Besides, once Spsetia take over I&P, think I&P will have to follow Spsetia policy, procedures and standard, whatever you had said worst to I&P, don't think this will not be changed upon take over by Spsetia.

The more concern now is the GDV the land bank will generate plus any on going projects it have.

Posted by ks55 > 2017-06-23 11:57 | Report Abuse

I think you can save it. I am very good at calculation.
Are you dealing with real estate? REN? With developers?
Per acre wise work out to be 1.65m
Usable conversion ratio. 60%? 65%?

You buy more is good.
Pray hard you can make this round............

Posted by heng0202 > 2017-06-23 11:59 | Report Abuse

i still wacthing and ready to all in

Posted by windcloud > 2017-06-23 12:00 | Report Abuse

I will explan you how to calculate in GDV value using developer method using a condo as example. Morning a bit busy. It is ok, I like to educate person.

Hope you will miss Spsetia share once rise up.

Posted by heng0202 > 2017-06-23 12:01 | Report Abuse

thanks cloud

Posted by mamatede > 2017-06-23 12:16 | Report Abuse

pwroot, ioipg, kinlum that time share placement, price correct for a while after that boom back up. history shows this Is the right time to

Posted by mamatede > 2017-06-23 12:16 | Report Abuse

buy

Posted by heng0202 > 2017-06-23 12:38 | Report Abuse

but please dont up first i haven collect enuf money to shoot haha

Posted by heng0202 > 2017-06-23 12:38 | Report Abuse

please dont shoot me haha

Posted by Traderx > 2017-06-23 15:57 | Report Abuse

when you have fear, just face it and once you conquer it, you will see Rainbow again. :)

Posted by heng0202 > 2017-06-23 16:23 | Report Abuse

i always buy down-ing stock high risk high return

Posted by thek > 2017-06-23 21:12 | Report Abuse

I am waiting for right time to acquire more.

Posted by mamatede > 2017-06-23 23:29 | Report Abuse

woah many analyst come out with a buy call... Hope next week still can collect more

Posted by Edwardong53 > 2017-06-24 12:44 | Report Abuse

Since SP Setia is the one taking over I & P, they (SP Setia Mgmt) will kick out the useless Mgmt team of I & P unless there is political intervention from behind.

Posted by ks55 > 2017-06-24 15:50 | Report Abuse

Try to recall Sime Darby/ UEP deal.
Was it a good deal?

Now consider SP Setia/ I&P deal.
Is it a good deal?
Why price drop like nobody's business?

Why useless Anal-lists gave TP all exceeding 4.00 with Public Anal-list top with 4.50?
Nobody dare to offend PNB.
What if they give adverse comment, still think they can get business from PNB Fund Managers???????

Posted by ks55 > 2017-06-24 15:57 | Report Abuse

Those who followed buy call from the anal-list early yesterday morning all suffered huge losses.
They will suffer even more when market reopen on Wednesday......

Posted by thek > 2017-06-25 11:14 | Report Abuse

ks55, its raya week la, fund managers all go long holidays. Give it a break. Time to acquire more. Dont be regret later if u miss the boat :))

Posted by mamatede > 2017-06-25 17:56 | Report Abuse

not huge loss, but huge buying opportunity again.

Posted by Hh5519 > 2017-06-27 12:24 | Report Abuse

What does the good enter price??

Posted by Vivoforever > 2017-06-27 15:56 | Report Abuse

Is this stock like vivocom?

Posted by mamatede > 2017-06-27 17:38 | Report Abuse

@vivoforever, so certainly not similar. Vivo is a construction company, while Spsetia is a property company. Vivo need huge china financial backing, while Spsetia got PNB backing.. Vivo does not give out dividend, while Spsetia gives out consistent 5-6% pa. So what do you think?

Posted by ProAdviser > 2017-06-28 12:41 | Report Abuse

Bound b soon!!!!!!

Posted by Vivoforever > 2017-06-28 14:15 | Report Abuse

23-Jun-2017 Insider EMPLOYEES PROVIDENT FUND BOARD (a substantial shareholder) disposed 200,000 shares on 20-Jun-2017.

i sense something is not right