About Ireka Corporation Berhad: Ireka Corporation Berhad (‘Ireka’) www.ireka.com.my was founded in 1967. Ireka was listed on the Second Board of Bursa Malaysia on 12 July 1993, and transferred to the Main Board (now known as Main Market) on 13 June 2002. Currently, the Group’s activities are divided into three core businesses; namely Infrastructure, Real Estate, and Technologies. In its over five decades of operation in the Infrastructure business, Ireka has distinguished itself by its involvement in constructing some of the country's most notable projects; such as the MRT V7 rail line, the Kuala Lumpur International Airport runway, Kuala Lumpur Middle-Ring Road II, North-South Expressway, Putrajaya Government Administrative Offices, DiGi Corporate Office (D’House), Technology Park Malaysia, The Westin Kuala Lumpur, OCBC Head Office and Wisma AIG. For more information, please visit www.ireka.com.my
About CRRC Group & CRRC UT: CRRC Group is the world’s largest manufacturer of rolling stock and rail related products and systems. CRRC Urban Traffic, being a member of the CRRC Group, is a leading player in providing investments, engineering technology and construction solutions in the rail and urban transportation sectors. For more information, please visit http://www.crrcsh.cc
About STO Express: STO is China’s leading integrated logistics services company, focusing on express delivery of municipal, inter-provincial and international courier items. STO presently operates its business internationally in countries including China, Korea, United States, Australia, United Kingdom and Japan. STO is listed on the Shenzhen Stock Exchange. For more information, please visit http://www.sto.cn/
Is wise for mr. lai to push it above rm1, so the wa holders will do the conversion. This will bring in 57m. He has one and a half yr to do so ....
In 2Q16 report, 28m was received from ASEANA (selling Aloft Hotel @KL central), according to resolution of egm, this proceeds should be distributed to share holders, almost 2 yrs ... he didn't do it .....
Latest QR report: On the property development front, construction of The RuMa Hotel and Residences, KLCC ( "The RuMa") which is 70% owned by ASPL and 30% by the company, is expected to complete in April 2018. ASPL adopted IFRIC 15- Agreements for Construction of Real Estate, which prescribes that revenue and profit be recognised only when the properties are completed and occupancy permits are issued. Hence, we expect the RuMa to contribute positively to the results of the Group in the next financial year.
(Starting from April 2018 RM100m+ profits will be gradually flowing in.)
(Aseana will bring in another RM100m+ profits as the company successfully divest its portfolio of assets)
The market cap of IREKA is RM129m. The profits from these 2 sources already exceed its market cap. The only way to reflect its true value is share price going up.
Now she said, she wants to wait for ASEANA sell all the assets, only Ireka will pay the special dividend.
The first question is, why Ireka hv to wait for ASEANA to sell all assets? ASEANA doesn't keep the proceeds until all the assets are sold! why Ireka has to do so?
While waiting, Ireka issue new shares, this will dilute the dividend.
ASEANA wouldn't be completed selling all the assets, even by the end of 2019. Let's see whether she announces it after 2019. If she announces it early than Jun.19, she is actually make use of the dividend as a tool to manipulate the share price!
Latest QR report: On the property development front, construction of The RuMa Hotel and Residences, KLCC ( "The RuMa") which is 70% owned by ASPL and 30% by the company, is expected to complete in April 2018. ASPL adopted IFRIC 15- Agreements for Construction of Real Estate, which prescribes that revenue and profit be recognised only when the properties are completed and occupancy permits are issued. Hence, we expect the RuMa to contribute positively to the results of the Group in the next financial year.
April is fast approaching. Something good is coming soon.
Ireka, Japan's Hankyu Hanshin in RM400m property project in Nilai
KUALA LUMPUR: Ireka Corporation Bhd is teaming up with Japan's Hankyu Hanshin Properties Corp to undertake the Rimbun Kasia property development in Nilai with a GDV of over RM400mil.
Ireka said on Monday it had entered into agreements with Osaka-based Hankyu Hanshin – a unit of Hankyu Hanshin Holdings, Inc. Ireka will hold a 55% stake in the JV company Meadowfield Sdn Bhd while Hankyu Hanshin will hold the other 45%.
The Rimbun Kasia development is a new residential enclave covering five parcels of a residential project, and one parcel of commercial project, over a 30.56-acre piece of land located in the town of Nilai.
Initially, the JV will develop the Dwi@Rimbun Kasia project, consisting of 382 residential units in a nine-storey block, and another parcel of land which will have 465 residential units in two blocks of 29 and 19-storeys.
“These projects will have a combined GDV of over RM400mil. The remaining land parcels at Rimbun Kasia shall be developed by Meadowfield at subsequent stages following the launch of the first two developments.
“These properties will be developed under the ZenZ brand, the sister brand to Ireka’s iconic i-ZEN brand, and also leveraging off Hankyu Hanshin’s highly successful Geo brand of properties,” it said.
Ireka group managing director, Datuk Lai Voon Hon stated: “I look forward to the joint venture with Hankyu Hanshin because it will enhance the Rimbun Kasia development, leveraging on their vast experience in the affordable housing sector, track record and financial strength.
“This is very exciting for us because the collaboration will also provide a strong foundation and a competitive advantage to the Rimbun Kasia development. I am very proud that Hankyu Hanshin has selected Ireka to be their development partner as they seek to expand their operations in Malaysia. The Rimbun Kasia development will be their first project in Malaysia.”
Since miss lai announced, she wants to wait for ASEANA sold all the assets, only Ireka will pay the special dividend ..... Ireka price sliding with no return .....
she gave a good lesson to shareholders, especially WB holders.
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....
investor001
39 posts
Posted by investor001 > 2018-01-24 20:29 | Report Abuse
About Ireka Corporation Berhad:
Ireka Corporation Berhad (‘Ireka’) www.ireka.com.my was founded in 1967. Ireka was listed on the Second Board of Bursa Malaysia on 12 July 1993, and transferred to the Main Board (now known as Main Market) on 13 June 2002. Currently, the Group’s activities are divided into three core businesses; namely Infrastructure, Real Estate, and Technologies. In its over five decades of operation in the Infrastructure business, Ireka has distinguished itself by its involvement in constructing some of the country's most notable projects; such as the MRT V7 rail line, the Kuala Lumpur International Airport runway, Kuala Lumpur Middle-Ring Road II, North-South Expressway, Putrajaya Government Administrative Offices, DiGi Corporate Office (D’House), Technology Park Malaysia, The Westin Kuala Lumpur, OCBC Head Office and Wisma AIG. For more information, please visit www.ireka.com.my
About CRRC Group & CRRC UT:
CRRC Group is the world’s largest manufacturer of rolling stock and rail related products and systems. CRRC Urban Traffic, being a member of the CRRC Group, is a leading player in providing investments, engineering technology and construction solutions in the rail and urban transportation sectors. For more information, please visit http://www.crrcsh.cc
About STO Express:
STO is China’s leading integrated logistics services company, focusing on express delivery of municipal, inter-provincial and international courier items. STO presently operates its business internationally in countries including China, Korea, United States, Australia, United Kingdom and Japan. STO is listed on the Shenzhen Stock Exchange.
For more information, please visit http://www.sto.cn/