Posted by xianchua > 2018-07-02 11:56 | Report Abuse

still very cheap. aim for another double.
and regret that too late to find this gem

Posted by selective_contrarian > 2018-07-02 15:33 | Report Abuse

Both chairman and exec director wife recently upped their company stake in April 2018 prior to the release of the QR from 27% to 54%. Barring one or two exceptions, the remaining Top 30 shareholders have either maintained or marginally increased their stake in the company over the past 3 years (according to the annual reports), which leaves the outstanding share free float for at a mere 15% (16.5 million shares).

Add in the fact that share buybacks of up to 10% of the company was recently approved at the AGM (likely for ESOS purposes, also approved) and if followed-through, outstanding share reduction + increase in profits at current rate are going to make the shareholders of this company very, very rich.

And is it true that the chairman (who is already known as the Penang condo king) is also good friends with ex-CM Lim Guan Eng?

Posted by khin87 > 2018-07-02 18:24 | Report Abuse

Yes, the chairman is the good kaki with ex-CM Lim Guan Eng. But now also a very good relationship with current Penang new CM and state assembly members. More housing development project will be offer to IDEAL without any doubt.

Not only that, the major thing is Penang Transportstion Master Plan ~ LRT, which the chairman private company Ideal Property Group Sdn Bhd have the PDP fee of 20% share which the project worth 55bil in total (60% own by Gamuda). The project should be approve very soon as the Pakatan government will raise green light any time. So when the project kick start, the chairman will definitely inject the company into IDEAL for raise capital and create the multi billion dollar company of IDEAL market capital.

Not surprise if the share price can have triple up to RM 3.50 - RM 4.50 this year end.

The coming company quarterly result will be blow up like triple or more as the project of i-Santorini, One Foresta and Forest Ville will contribute to the profit.

By this year end, there should have a corporate activity, in term of asset injecting or possible a special dividend of RM 0.10

No doubt, this is the gem counter that has transformed and pending the stock market to react on it value and recognise the name IDEAL to everyone......

Posted by selective_contrarian > 2018-07-03 08:00 | Report Abuse

It doesn't even need to double or triple. Even assuming that the upcoming Q2 revenue + EPS is maintained at 205 mil and 13.3c for the next 3Q (most conservative scenario since sales is booked by percentage-of-completion accrual accounting method as outlined in the AR2017, pg. 87. Foresta & Forestville are at 77% and 45% as of last quarter with estimated completion date being July 2021), we're looking at a PE of 2.08 for FY18. And we all know what happened to Hengyuan last year when earnings accelerated in this manner.

My calculations also discount any future asset injections into the group, which is very likely since the chairman also owns a private portfolio of multiple property development projects (includes affordable, mid-range and high-end) across Penang, in addition to what khin87 has pointed out about the PTMP (which is something I was not even aware of).

But what I'm most impressed by is the way management has chosen to complete the asset injection late last year, esp since they owned the assets themselves in a separate private entity (or so I believe). Most (rational) people would opt for long-term debt (i.e. bank loan) or a potentially dilutive private placement (recall that at this point they only still owned 27% of the company) to raise the necessary funds in order to purchase the assets, realise the fair value of the projects and in the process, personally profit from the whole exercise. After all, it is the majority shareholders who will be paying the price of their acquisition anyways.

BUT what did management choose to do faced with such circumstances? Opt for RCULS (redeemable/convertible loan stock) that essentially LOANS the project to IDEAL for a discounted coupon (interest) rate of 5% per annum (which is far lower than the rate any bank will offer you for a loan). An interesting point to note here is that when companies in Malaysia issue loan stocks, they tend to be ICULS (irredeemable - which means the loan stock holder has the option to convert his ICULS into mother shares but not the other way around. With RCULS (redeemable), the company also has the option to redeem the loan stocks and avoid making future interest payments if it finds itself in a net cash position). So, it's almost as if the owners have lent the company their own private property so that the majority shareholders can profit from it. I have never seen the management of any company do something so selfless like this (on the surface at least haha)! And of course, what did they do a few months later in April this year? Buy out the 2nd and 3rd largest shareholder to increase their stake from 27% to 54%. Could this mean a special dividend or capital distribution announcement in the near future? Only time will tell I guess.

Either way, good luck everyone!

If my evaluations of this stock are correct and I have tried to double-check this with people who I think are more knowledgable than me in finance and accounting matters, I think we have really found ourselves a gem here! A gem which is made even rarer with the current market downturn.

Posted by khin87 > 2018-07-03 10:33 | Report Abuse

PDP Penang Transportation Master Plan Announcement:

http://www.bursamalaysia.com/market/listed-companies/company-announcements/4828133

Gamuda - 60%

Ideal Property Development Sdn Bhd - 20%
Loh Phoy Yen Holdings Sdn Bhd - 20%

Both of the company is a Penang base company which have a good relation with the state government.

Loh Phoy Yen is the Boon Siew group daughter company if not mistaken.

Posted by 731586184 > 2018-07-04 21:15 | Report Abuse

This is another stock I able to catch the uptrend using VIndex Stock Screener. It has good fundamental and technical analysis also in uptrend.

Posted by boonchye85 > 2018-07-06 11:01 | Report Abuse

rocket

Posted by khin87 > 2018-07-06 16:14 | Report Abuse

1Q 2018 EPS 13.30

If another 3 quarter of 2018 manage to maintain such EPS, no doubt..... easily can hit and break the EPS, with this assumption, 4 x 13 = 0.52 sen.

This is really an amazing company that make such big profit.

So will our new finance minister Lim Guan Eng bring wealth to IDEAL?

Let wait and see.......

Posted by apolloang > 2018-07-06 16:15 | Report Abuse

ken also like that last year but price no up like ideal

Posted by apolloang > 2018-07-06 16:18 | Report Abuse

ken make more than 60 mil last year price also not like ideal.....tipu lah bursa ini NOT FAIR just like kyy said.....hehe

Posted by yeddie > 2018-07-07 08:49 | Report Abuse

Kampung Kastam PR1MA project Ideal developer, executive chairman Tan Sri Alex Ooi said the group expects the project to begin by year-end.

He said the first phase of the project would comprise 907 units of affordable homes and 257 units of low medium-cost homes on the 3.2-hectare land in Kampung Kastam.

"The 850-sq ft affordable homes will cost not more than RM300,000 while the 650 sq ft low medium-cost will be priced in the region of RM72,500," he said, adding the project would be completed three years from the start of construction.

The projects will consist of two-block buildings equipped with facilities such as gymnasium, futsal court, surau and meeting room.

Posted by selective_contrarian > 2018-07-08 17:14 | Report Abuse

@apolloang, I don't think it's fair or even remotely accurate for you to be comparing Ken with Ideal to begin with. Or even Ideal with most other property counters listed on Bursa. It's like comparing apples and oranges. Yes, they're both fruit but the similarities end there as they're very, very different in so many ways so for you to be drawing parallels between the two is a little silly. 



For a start, Ken’s daily trade volume averages a mere 18K and on most days, no shares are traded at all. In fact, a quick look at the counter on any trading platform will show you that the latest bid-ask spread is a whopping 12.5c (B: 0.775; S: 0.90,) which is almost 15% of the last done price of 80c. That means any investor wanting to buy into Ken will also have to factor into his/her costs at least another 10% minimum just to dispose their shares due to the illiquid nature of the counter. This also happens to be the case with many of the property counters listed on Bursa (94 in total). Compare that with Ideal’s gradually increasing daily volume over the past few weeks and you’ll see why some counters, like Ideal, experience more turnover and fly upwards while others, like Ken, don’t, despite having seemingly okay fundamentals.

Posted by selective_contrarian > 2018-07-08 17:22 | Report Abuse

Secondly, despite acknowledging that Ken’s annual profits did increase substantially in FY17, this was not matched by an increase in revenues. An increase in profits on its own can be attributed to many factors but if it cannot be explained by an expansion of the company’s business operations and/or a reduction in production costs, then no amount of profits is going to convince long-term investors that the company is worth investing in. And sure enough, the average increase in Ken’s revenues q-on-q in Q3 and Q4 (most profitable quarters in 2017) of just 10% (approximately) does not match the above-average increase in profits in those quarters. A quick perusal of the QR notes of both quarters showed that revenue from construction of the group’s office tower was rapidly decreasing as it neared completion (Q1 2018), even as sales in its property segment increased! And what happened in Q1 2018 when the office tower was completed? Revenue + profit both fell sharply by approximately 85% and 88% respectively.

So… am I surprised that Ken Holdings share price didn’t shoot up although there was an increase in profits in Q3 + Q4? No, absolutely NOT. And if you had been more careful, you wouldn't have invested in Ken either (and I'm sincerely hoping you didn't!)

.

And I think it’s not right for you to say that Bursa is “not fair” and “main tipu”. It is only unfair to those who make assumptions and don’t do their own thorough research before investing.

Posted by selective_contrarian > 2018-07-08 17:29 | Report Abuse

Now, compare that with Ideal whereby the revenue + profits have been increasing steadily by at least 35% in the last 3 quarters and even more than doubled in the last quarter and you’ll start to see why Ideal has become a very attractive stock in the past few weeks. Additionally, there is clear earnings visibility for the next 2 years AT LEAST until Santorini, Foresta and Forestville are completed in 2021. And this is not even potential earnings as a large proportion of the sales have already been made and is currently sitting on the balance sheet as trade receivables (refer to explanatory notes in financial statements for clarification on classification of unbilled revenue under this heading). The only reason sales + profits have not been recognised is down to the accrual accounting system used in compliance with MFRS. This means revenue + profits can only be booked gradually in relation to the percentage of completion. So it’s not even a question of IF but WHEN. If there are no hiccups in project completion and judging by the experience Ideal has in property development (you can view their full portfolio of past & present properties here : http://www.idealhomes.cc/creations.html#ongoing), those revenues + profits are more or less guaranteed at present.

Posted by selective_contrarian > 2018-07-08 17:43 | Report Abuse

There is also little doubt that the doubling of revenues and profit from the last quarter was largely down to the injection of Foresta and Forestville by the owners into the listed entity. The revenues/profit from the last quarter (Q1) could not have doubled and be sustained by that of Santorini from the previous quarter (Q4) alone. What is interesting however is that of all their ongoing projects, the owners chose to inject two of their better-performing (in terms of sales - just give the Ideal sales department a call and they’ll be happy to boast about it haha. I certainly did!) semi-affordable high development projects into IUBB, before then increasing their own stake in the company to 54%.



And as we’re all well aware, the Malaysian property market is pretty soft at present but interestingly, this does not apply to affordable housing (homes priced <RM500k) whereby demand continues to outstrip supply as per Bank Negara’s housing watch website (housingwatch.my - it’s a fantastic website if you’re looking for more information about the state of Malaysia’s housing market. Very clean analysis and lots of graphs/charts to simplify raw data!).

Is it a coincidence then that of the 8 or 9 ongoing projects they had at the time, they specifically chose to inject just the 2 aforementioned affordable home projects into IUBB and not the others? Especially since they will also start granting out ESOS options for employees to directly benefit from the company’s material success very soon? Feel free to draw your own conclusions.

Posted by selective_contrarian > 2018-07-08 17:52 | Report Abuse

The only million dollar question right now is seeing that the owners themselves have lots to gain and little to lose, what other cash flow positive projects could they possibly inject into IUBB in the future? Although this company is fundamentally sound, I am actually convinced that the rapid price rise in recent weeks has more to do with speculation over the owners’ political clout and influence back in Penang than it has to do with the company’s revenues/profits and healthy balance sheet (after all, when did most average Malaysians look into fundamentals before investing anyways? HAHA).

As some of the other users of this forum have already pointed out, Tan Sri Alex Ooi is extremely well-connected in Penang. Its been barely 2 months since the elections and we are already seeing him reap the rewards as a result of his strong ties with the state and federal governments. Here’s a good example of it : https://www.thestar.com.my/news/nation/2018/06/21/fast-tracking-stalled-housing-plans-pr1ma-projects-offering-3000-units-at-two-locations-in-penang-to/.

More information about the project : https://www.penangpropertytalk.com/2018/06/first-penang-pr1ma-project-to-begin-end-of-this-year/.

Posted by selective_contrarian > 2018-07-08 18:01 | Report Abuse

Tan Sri Alex is rumoured to be very close to current finance minister Lim Guan Eng and also contributed RM1 million to Tabung Harapan. Additionally, Ideal has also recently planned and submitted this new affordable home project in Balik Pulau for approval - https://www.penangpropertytalk.com/2018/06/affordable-balik-pulau-ideal-property-group/. 



Here’s also a little more on Tan Sri Alex if you want to know more about his background and Ideal Property Group as a whole - http://www.focusmalaysia.my/Property/alex-ooi-aims-high-via-ideal. I found it to be the most informative of all the articles published online recently about him and the group (and there isn't much to go by really).

Posted by selective_contrarian > 2018-07-08 18:19 | Report Abuse

Last but not least, just a disclaimer. Everything I have written in all my posts is my personal viewpoint of this company that has been formed after many countless hours painstakingly researching and reading almost every official public document that has been published by IUBB via Bursa announcements over the past few years. I have not been paid by anyone to do such a thing and my posts are NOT meant to be investment advice for any one of you. As always, you should always invest at your own risk and ONLY after you have done your own extensive research on the company. Good luck!

Posted by dlye7735 > 2018-07-08 22:52 | Report Abuse

@selective_contrarian, that's a very detailed research you did there, great job!

Posted by fattmoney > 2018-07-09 09:48 | Report Abuse

@selective_contrarian, there is a MGO by Tan Sri Datuk Ooi, is that the reason why the share price remains depressed?

http://malaysiastock.biz/Company-Announcement.aspx?id=1059890

Posted by selective_contrarian > 2018-07-09 10:28 | Report Abuse

@fattmoney No, not at all. I wouldn't even say the share price is depressed considering it has shot up by almost 100% (0.65 to 1.30) since the announcement was made. The MGO was triggered when Tan Sri Alex and his wife upped their stake beyond the 50% threshold by acquiring the stakes of the 2nd and 3rd largest shareholder in April 2018. The offer is merely a formality. What is important to note however is that the offer was intentionally priced below market value at RM0.54 for the mother share and RM0.01 for the warrants respectively so as to deter shareholders from taking up the offer - which actually makes sense considering the ESOS scheme for employees is only feasible if there is a market for those shares, and taking the company private is going to put the entire scheme at risk, which I don't think they're prepared to do.

More importantly, I think if they really wanted to take the company private, they could've done it long ago even before they injected the 2 property parcels in late 2017/early 2018 yet they chose not to. My own reading of the situation is that they're probably wealthy enough from their own private holdings in Ideal Prop Group and hence, see more benefit in keeping IUBB listed (which could include sharing their wealth with friends and family who own IUBB shares - take note that the holdings of the Top 30 shareholders have more or less not changed in the past 3 years).

Posted by fattmoney > 2018-07-09 10:33 | Report Abuse

@selective_contrarian, Wow ok noted. Thanks a lot for your info sifu! I can see this stock is really super unvervalued.

Posted by selective_contrarian > 2018-07-09 10:51 | Report Abuse

The reason the price plunged today is likely due to the fact that there were not enough buyers in the market to add liquidity at the different price levels after the share's rapid surge on Friday. This morning at opening, there were only about 50k shares between Friday's closing price of RM1.32 and RM1.40. And retail players were quick to mop up all of these in the opening few minutes thus creating a huge spread between buy and sell price levels that meant the price had no support whatsoever - which subsequently caused a rapid decline in the following half hour. Take a look at the technical charts and it will tell you the same story. The share price has not been given a chance to consolidate yet and I honestly think it should, especially after the rapid increase it experienced on Friday.

In fact, if you look over the last 2 weeks, you will notice that the "big sharks" who have been accumulating (I'm talking about buy orders of >100k in one go) only do so once the price has settled at a particular level over a few hours and the retail/intraday sellers who were looking to make a quick buck have been chased out. After all, why pay more for such a huge quantity of shares when all you have to do is wait a few hours till the intraday traders get restless and offer their shares for much lower prices?? If I were a shark, I'd probably do the same tbh. A good example of this actually happened last Thursday whereby the share price had been consolidating for around 3 days at the RM1.18 level before a shark swooped in and mopped up around 190k shares in just 5 minutes at 4.35PM. Coincidentally, that also caused retail players to have FOMO and start buying like crazy on Friday morning (you know they are retail by the volume of shares they trade - usually under 20k), which in turn pushed the share price way too high in such a short span of time. And ofc, the sharks are now nowhere to be seen!

Therefore, my advice is this. If you here to make a quick buck - FORGET IT. The relative illiquidity of this counter + the lack of buyers at higher price levels after a quick run-up means that you're going to have to offer lower prices to dispose your positions quickly. At the end of the day, you WILL lose and only those sharks who have been patient enough to wait for sellers like you to cut costs and exit the market quickly to cover your losses stand to gain. I've been following this stock since the last QR was released and the pattern is always the same. If you want to profit, gradually buy and average up along the way. Otherwise, you're better off playing with more liquid counters on the Top Actives list. Just my 2 cents!

Posted by apolloang > 2018-07-09 10:52 | Report Abuse

another pump and dump counter

Posted by selective_contrarian > 2018-07-09 11:27 | Report Abuse

@apolloang I highly doubt it, apolloang. I had to make sure before I invested too. Here's why I think it isn't but feel free to demonstrate otherwise :

1) Pump and dump (P&D) syndicates tend to operate exclusively in penny stocks and low value counters. It makes the reward of a huge profit from just a few cents increase in the share price much more enticing to newbies and amateurs who are foolish enough to buy and get trapped.

2) P&D syndicates also tend to target counters with very poor fundamentals as it is firstly, easy for them to accumulate from existing shareholders (who are happy to let go of their shares) without having to pay a premium and then subsequently, get their victims to do the same without much hassle. It is only when significant buying has happened does the share start to gain traction and the price starts to accelerate upwards towards the final few periods of the "pump" phase.

In comparison, if you had monitored Ideal's share price closely when it first took off after the last QR, you would've quickly realised that there were very few sellers on the market to begin with - which in turn, caused buyers to keep bidding higher and higher for the few shares that were available. I would know because I was one of them! That is what caused the price to increase by about 5-6 cents everyday with gradually increasing volume as there was very little profit taking since I also suspect that those who were buying were doing so for the long-term.

It is only now that we are finally seeing some profit-taking from the initial buyers since the price has increased by almost 50% over the past month. If my prediction is correct and there are indeed more long-term buyers than sellers for this counter, then any drop in price will only be temporary as the buyers start to see value in lower prices and start mopping up the excess (in fact, as I type this, the share price has shot back up to its previous support level of RM1.30 with huge buy orders queued at RM1.29). Again, feel free to draw your own conclusions.

3) Last but not least, a dump would mean "sharks" disposing MOST of their holdings in a short span of time. This is usually characterised by unexplainable + extreme drops in price AND heavy volume as the "small fishes" also look to sell their positions during the plunge. If it's just a drop in price that is not accompanied by a surge in volume, then it cannot be considered as a dump and is very likely to reverse subsequently.

Again, as I have pointed out in my earlier comments, the reason for the drop is very likely due to retail players disposing their positions having anticipated a price surge from buying action by the sharks that did not materialise (you think sharks are stupid? They know that without any support, the price will eventually fall back to previous levels where they can accumulate for even cheaper prices rather than paying current prices to desperate sellers).

PS : When I say "shark", I am not referring to P&D syndicates. I'm referring to those big players who seem to be continuously accumulating Ideal's share price at opportunistic levels when there is little buying/selling action and the market is calmer. Another example of this happened right after the Ideal AGM on 11/06 at around 12PM whereby 250K shares were bought in just 10 mins. I'm almost certain these are not syndicates looking to make a quick buck but rather big players who attended the AGM, heard something they really liked before deciding to take up such a huge position (likely) for the long-term. Can't be just coincidence, right?

Posted by apolloang > 2018-07-09 11:31 | Report Abuse

ideal many condos in relau area tak laku kena stuck,price now is overvalued

Posted by apolloang > 2018-07-09 11:33 | Report Abuse

the profit is just like ken only.look at ken last year profit so good but price also no up like ideal,so compare to the peers it is overvalued since ideal is also a property stock

Posted by apolloang > 2018-07-09 11:50 | Report Abuse

many wouldn't buy untraded stocks cos looking for quick money,but if ken being push up many sure will buy.as for ideal it is only speculative not worthy to buy at this high price.i would look for other safer options.to me ideal not worth this much looking at the accounts of this stock

Posted by fattmoney > 2018-07-09 12:36 | Report Abuse

@ selective_contrarian, just another question for the mgo (i am a newbie who got confused reading the announcements). Since the mgo has become unconditional and past the closing date, does that mean the offeror will maintain the listing status of this co? Or is he obligated to take it private? Sorry ya I'm not familair with mgo rules..

Posted by The_Reds > 2018-07-09 12:48 | Report Abuse

Listing status is unaffected..no worry

Posted by selective_contrarian > 2018-07-09 13:19 | Report Abuse

@apolloang but are those condos included here in the listed entity of IUBB? You're confusing IUBB with Ideal Property Group (the private company that holds the higher-end portfolio among others, including the condos in Relau). They are NOT financially-related. I think I've explained this quite adequately in my previous comments yesterday.

And as for Ken, did you see my explanations above? I just had a cursory look at Ken's QRs and decided in under 10 minutes that it's not a stock I would ever invest in. And I'm really sorry if you did but that is something you have to live with I guess. Your explanation as to how Ideal and Ken are similar is overly simplistic I'm afraid and if that's how you judge and value companies, then I'm not surprised if you chose to invest in Ken over the many other companies out there with stronger fundamentals and more robust earnings visibility.

Posted by selective_contrarian > 2018-07-09 13:24 | Report Abuse

And yes, I do acknowledge that there is some level of speculation involved in this counter. In fact, most PH-linked counters in Penang have been flying post GE14 - even in this bearish market. EWEIN from RM0.39 to RM0.76, VERTICE from RM0.83 to RM1.00 and ofc the star of the show has been IDEAL from RM0.60 to RM1.30. And of all these counters, Ideal is probably in the best position to experience organic growth and thrive even WITHOUT the need for government contracts unlike the other counters. Any additional government contract like the one it won in Kampung Kastam is just a bonus!

Even discounting future asst injections, securing of additional government housing project and the development of existing land-banks, based on my calculations... this counter is easily worth at least RM2.12 minimum - based on an estimated full year FY18 trailing PE ratio of 5.0 (still way below the industry average of 7.5 - and I don't even think we should classify developers of low-cost/affordable homes like Ideal where demand>supply with the many other ordinary developers of mid-range and luxury homes >RM500k!). And even then, this is based on the MOST conservative estimate that current EPS of 13.3c is maintained over the next 3 quarters and doesn't even account for the fact the company holds very little debt, possesses good returns on equity or that management is experienced and has proven to be benevolent towards its shareholders.

And I'm pretty sure I'm not the only one who sees this, right? There is good reason that ever since the last QR was released, the stock price has gone up by more than 100% in the past month alone after stagnating for so long with low volumes in the RM0.60 - RM0.70 range. Surely this cannot all just be speculation???

Furthermore, try explaining the days where there are huge single buy order transactions (>150k) and yet, from the time I've been monitoring the stock until today, there still has not even been a single >75k sell transaction in one go. The highest single sell I've come across is 50k. And even then, its only happened once or at most, twice. Still don't believe me? Go look at the charts on the days where the price dropped. You'll see that volume is low whereas on days when the price spiked, volume is always consistently very high. Doesn't take a genius or rocket scientist to understand what is happening here tbh.

Posted by selective_contrarian > 2018-07-09 13:34 | Report Abuse

@fattmoney The_Reds is correct. He is under no obligation to take it private and doesn't seem to be interested in doing so anyways judging by his below-market offer price. In fact, as of the final offer acceptance closing time on 04/06, only 1k shares and 500 warrants accepted the offer. LOL. Again, I suspect this was just a formality.

You can view the full press release here : http://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=87507&name=EA_GA_ATTACHMENTS

Posted by fattmoney > 2018-07-09 13:56 | Report Abuse

@ The_Reds & selective_contrarian, Haha ok thanks for the clarification! I was actually confused with the press release and don't understand it lolol

Posted by The_Reds > 2018-07-09 14:14 | Report Abuse

selective_contrarian is right..the MGO is just a formality coz the boss triggered the bursa obligation after acquiring > 33% of IDEAL shares on 23/4/18
basically u just have to ignore the MGO, boss never want to privatise the company at this moment

Posted by The_Reds > 2018-07-09 14:26 | Report Abuse

as far as I know IUBB only has 1 project in hands namely i-Santorini, apolloang is trying to confuse ppl by mixing all the things together

Posted by The_Reds > 2018-07-09 14:35 | Report Abuse

selective_contrarian deserved a credit for his extremely detailed and precise analysis about IDEAL, if it was me then I won't be wasting my time here to type such a long comments to tell u what is going on now
Thumbs up to u bro!!!

Posted by dlye7735 > 2018-07-09 15:40 | Report Abuse

@The_Reds Other than I-Santorini, One Foresta and Forrest Ville are also included now if I understood the latest QR report correctly.

Posted by apolloang > 2018-07-09 15:45 | Report Abuse

I-santori I went to look already,tak laku,affordable home now anyone can buy,so packed no good

Posted by apolloang > 2018-07-09 15:50 | Report Abuse

I no confuse lah imperial grande not in relau then where?

Posted by apolloang > 2018-07-09 15:52 | Report Abuse

also their projects mainly in bayan lepas area,too many projects near that area,tak laku

Posted by apolloang > 2018-07-09 15:53 | Report Abuse

only speculative play and too high already

Posted by selective_contrarian > 2018-07-09 16:43 | Report Abuse

@apolloang who are you trying to fool? And what do you mean by "tak laku"? If you're talking about sales rate, then I'm calling your bluff because even as of late 2016, 80% of sales for Santorini were already completed and from what I understand, Tower A was completely sold out even back then (info available online). I will be happy to disclose the exact sales figure as of 31/05 that I managed to get from one of the sales team members when I called if not for the fact that it could count as insider information (since it's not available publicly) and I could be investigated by Bursa for it if I'm reported. But if any one of you are interested, you can do the exact same thing I did and just give them a ring and you'll know for yourself what the figures are for all 3 properties listed under IUBB - Santorini, Foresta & Forestville. What I can say (without risk of investigation) is that I would not have invested if sales was anything less than 85% (and this is my minimum threshold btw - actual figures could be much higher) - but again, feel free to do your own research on this.

And on the other hand, if you're talking about occupancy rate "tak laku", two things -

(1) Who are you trying to fool again? Completion for Santorini is only expected in Q1 2020 so what exactly DID you see when you say "tak laku"?

(2) I don't think occupancy rate should concern us as shareholders of IUBB as we will not receive any recurring income from tenants living in the flats. What owners choose to do with the flats they purchase, whether its for their own long-term investment or to be let out is their business.

The only risk I see is that sub-prime borrowers who take out a loan to buy the unit and depend entirely on rental income to repay their loan could potentially be at risk of default if occupancy rates are low (and even then, its too early to make a judgment call on this). But this is very unlikely simply because banks usually have very stringent rules and regulations to ensure that their borrowers are credit-worthy and are able to service their debt commitments regularly. As a matter of fact, even Tan Sri Alex Ooi has said in many of his interviews (including the one that I've shared previously) that banks should be MORE lenient with loans, especially to young people who are first-time buyers. That's the chairman himself who is indirectly saying that the current rules and regulations are too strict. Even if you look at the balance sheet, the provision for bad debts at present is very, very low - indicating management's confidence that their customers will be able to repay their loans in a timely manner.

@apolloang also, in your first comment, you first say that the units tak laku and then you immediately go on to say that since anyone can buy affordable home, it'll be packed and that's no good. Surely then if most people can afford it and and its packed, surely then it must be laku??? Not only do your statements directly contradict each other but I also genuinely feel that you have no idea what you're talking about. Anyways, I'm not here to attack you or you flawed logic. I just think it is very irresponsible of you to be making brash statements without due diligence. Please do so next time so that we can have a more informed discussion in this public forum. Thanks!

Posted by apolloang > 2018-07-09 16:52 | Report Abuse

not fool anyone,this tan sri alex fren wif tan sri tan kok peng both from han chiang,pccc u know or not? hehe

Posted by apolloang > 2018-07-09 16:54 | Report Abuse

I say tak laku cos a lot left......I mean packed is too many blocks in that area.this stock really not worth this much,only being push up by people in pccc

Posted by The_Reds > 2018-07-09 17:45 | Report Abuse

dlye7735..precisely speaking One Foresta and Forrest Ville are under I-Global Property, I-Santorini is under Ideal United Bintang Berhad (IUBB), but of coz all 3 projects are under Ideal group

Posted by The_Reds > 2018-07-09 17:53 | Report Abuse

apolloang I say tak laku cos a lot left......I mean packed is too many blocks in that area.this stock really not worth this much,only being push up by people in pccc
09/07/2018 16:54

that's the point...if nobody push up then why the hell we buy into this counter
U try to buy Ken and wait forever until the price go up la

Posted by apolloang > 2018-07-09 18:19 | Report Abuse

cannot forever one,i only buy what it's worth not jump in the bandwagon and speculate.i don't buy overvalued stocks

Posted by selective_contrarian > 2018-07-09 19:07 | Report Abuse

@The_Reds yes, dye7735 is spot on. As of Jan 2018, IUBB also includes 50.5% of i-Global (holding company for One Foresta and Forestville), and therefore approx half of all sales and profits accrued from those 2 projects + that of i-Santorini that which it had owned in its entirety from before. Some of those sales & profits were already included in the last QR and will continue to be included without exception until completion in 2021.

And thanks! I think it's my responsibility to keep the community informed in a constructive manner - although I will stop short of telling you to buy this stock. I still think people need to their own research before making important investment decisions. Investing is not about blindly gambling on companies based on how you feel or some rumours you hear from friends in the coffee shop. At the end of the day, the numbers do not lie but people do. If you do your research and analysis, you can never be deceived and you will always profit in the long run.

Posted by The_Reds > 2018-07-10 09:37 | Report Abuse

it's time to relax and drop a bit before resume the uptrend