IOI PROPERTIES GROUP BERHAD
KLSE (MYR): IOIPG (5249)
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Last Price
2.13
Today's Change
+0.03 (1.43%)
Day's Change
2.09 - 2.14
Trading Volume
1,020,100
Details of Changes
Securities After Change
Transactions
| Ann. Date | Name | Details of Changes | Securities After Changes | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Date | Type | No. of Shares | Price | Direct (%) | Indirect (%) | Total (%) | ||||
Discussions
5 people like this. Showing 50 of 3,172 comments
@dragon328 you're absolutely right, while waiting for your response, my doubt has been clarified via looking back at Q3 report. Hence, core property business + hotel/mall segments are generally improving YOY and QOQ basis. Coupled with the rejection to take over Shenton House, hopefully, investors would finally see the intrinsic value of this gem. Next up, I'm anticipating the further reveal of the the Johor-SG SEZ deal, to be the next catalyst of its share price. Fingers crossed , and happy investing to all.
1 month ago
Sg999….i think u might be right. Today open high and close low for the day… sold tis morning ard 2.05 hope to buy back later.. the company is good but sentiments are not so favorable at the moment. Thus i sold. Happy hunting. Cheers!
1 month ago
https://klse.i3investor.com/web/blog/detail/dragon328/2024-08-29-story-h-153177383-IOIPG_The_Dawn_of_Explosive_Earnings_Growth
My analysis of IOIPG Q4 result as above for your leisure read. It is good for long term investment.
1 month ago
missed out on this development..... rejection of CEO's offer on shenton house, but surprisingly IOIPG has agreed to be the exclusive project manager and some extend developer as well as first rights of refusal on the purchase.... interesting'
https://www.nst.com.my/business/corporate/2024/08/1097980/ioi-properties-rejects-ceo-lees-offer-buy-shenton-house-will
4 weeks ago
Fake buy call by the IB just look at YTL today by call RM6-7 but plunging nonstop till 3.70 ⬇️⬇️⬇️🩸🩸🩸
3 weeks ago
After the expiry of a call warrant last Friday, IOIPG can enjoy steady rise now.
With the Shenton House proposal rejected, IOIPG should be gradually going back to RM2.50 level.
3 weeks ago
Now high gearing is no longer an issue with analysts, who now spell fears on high interest expenses at IOICB that will start to kick in from Q1 FY2025. I think there sell-side analysts have overblown the issue on high interest expense, just like they overblew the issue of high gearing before.
Nonetheless, the overall market sentiment is weak with US stock markets dropping big last week. Yet foreign funds still net bought hundreds of million ringgit worth of equities in Bursa last week. The average cost of entry into IOIPG by foreign funds is slightly above RM2.00, so at current prices below RM2.00 I do not think many foreign funds will sell.
Some local funds are not yet buying in IOIPG as its net gearing is higher than 50% hence is classified as non syariah compliant, but at least we see EPF still accumulating IOIPG in past few weeks.
When foreign funds and local funds are not buying, local retailers tend to sell to cut loss as their holding power is weak.
2 weeks ago
We may need to wait for 1 or 2 more quarters before we can see meaningful rebounds in the share price of IOIPG, as the company needs to ride through Q1 and Q2 FY2025 when IOICB is expected to incur some losses due to interest expenses kicking in and tenancy remains at 50%.
2 weeks ago
However, I do not discount the possibility of IOIPG share price rebounding earlier if we can see some good news coming up in coming weeks:
2 weeks ago
- US Fed lowers fund rates by over 25 bps in its September meeting, or cut by 100 bps before end of 2024
2 weeks ago
- any land sale in Johor
- a sooner turnaround in its hotel business
- potential setting up of a commercial REIT to house its shopping malls and office towers in Malaysia
2 weeks ago
or the Marina View Residences project receives better than expected responses after launch in September
2 weeks ago
Hmm need to hold for min 6-7 months
Unless got tailwinds and make the counter enticing again
2 weeks ago
https://theedgemalaysia.com/node/726505
A positive move by IOIPG, the new industrial park segment may be the next catalyst to propel the company higher in coming 2-3 years
2 weeks ago
PE 5, really undervalued by two times
Really need to add some spice to brew the numbers
2 weeks ago
Possible to land at 2.20 by end of this week? Seeing some upward consistency
1 week ago
2.2 is not a problem. But if you're eyeing 2.2 to sell might as well sell now and speculate somewhere else. Because this one you should be patient and wait for them to announce the game plan
1 week ago
IOIPG has been picking up smallish 2nd 3rd tier properties in Msia...this coincides w a bright outlook in Msia property sector. However, the game is the disposal to REIT. They have a huge Singapore exposure, top tier properties. Bundle it with the 3rd tier malaysia properties add back top tier IOI City Mall, this will be a huge blue chip REIT. What will IOIPG share price be by then?
1 week ago
The game for the low tier properties is to buy it below value and then enhance it a little, inject to REIT at a huge premium. Senior Lee taught his youngest son well
1 week ago
@UncleFollower, you are likely right to point out the game plan of IOIPG, which all sounds well to me. This is evidenced from the recent purchases of W Hotel KL, Langkawi land for a hotel resort development and Tropicana City Mall, all purchased at below book value especially the last one Tropicana City Mall at almost 30% discount to book.
I expect IOIPG to turn around the business and grow them into steady cash cows then inject into REITs. When they inject the matured IOI City Mall, IOI Mall Puchong and this Tropicana City Mall into a commercial REIT in Malaysia at say dividend yield of 5.5%, the potential value of the commercial REIT may be over RM7.0 billion.
IOIPG may inject its hotels into a hospitality REIT separately when the hotels business turns around and yields steady cashflows, once the management estimated that its hotel assets would be worth some RM2.5 billion.
1 week ago
Sure, wanted to keep my portfolio in green haha
IOIPG by valuation on NTA, really can unleash for mega REIT: 2nd gen Lee’s legacy is coming up
1 week ago
When you have the track record and cash pile: 2nd and 3rd tier properties are the main dishes
1 week ago
@dragon given the depth and liquidty of S-REITs over M-REITs + IOI's huge exposure in SG, i think there's a good chance they either list it in SG or have a dual-listed REIT over SGX and Bursa, instead of a M-REIT. Actually if they list it in SG it's good enough, dual-listing it is to be poltiically correct, I guess. YTL's Starhill REIT owns our KL Assets via its S-REIT, that was done before current political climate.
1 week ago
Crown jewels are IOI City Mall + IOI Central Boulevard. And I think the latter is neater, easier, faster. So first a pure play office reit, followed by the retail reit. IOIPG doesnt need to trailblaze, they can emulate Capitaland's model. The SG properties alone should be injected at above RM18B valuation
1 week ago
And now Capitaland have the capacity to buy stake in Club Med, multi billion euro deal
1 week ago
Market is justly responding to rate cut. Everyone knows IOI prop's props are now worth more as we enter new rate cut era + even WCT can do a 2.4B REIT, IOIPG? Whoaaaaa
1 week ago
@dragon328 has very good write-ups...he may even know more about IOIPG than its CEO damn 🤣🤣🤣
1 week ago
You can't not mention IOI Singapore...if you look at Keppel REIT, occupancy is consistently at 99% and they are older buildings. I'm familiar with IOI's CBD properties, another league altogether. That will be a huge one to REIT.
Investorrr
Big land bank in Kulai (within SEZ),and Reit retail malls
5 hours ago
1 week ago
IOIPG BOD to rush for the bandwagon? Or just hold again?
Are they close with Johor royal?
1 week ago
@UncleFollower, I agree that IOIPG's commercial properties in Singapore are neater and certainly the crown jewels for the group besides IOI City Mall.
The management has the target to ramp up tenancy at IOI Central Boulevard to 80% by this year end. Then I hope they can achieve 95% tenancy by end June 2025, and it will be ripe for injection into a commercial REIT in Singapore.
With shortages in prime office in Singapore CBD, I am confident that IOICB will achieve average rental rate of above SGD13.00 psf by end FY2025, and the valuation for IOICB could exceed SGD5.0 billion (CEO Lee once said he would expect a valuation of SGD6.0 billion for IOICB) by end FY2025 and be close to SGD6.0 billion by FY2026 when tenancy achieves 99%-100% and rental rate is revised up by 5%-8%.
Now as IOIPG has the exclusive right to develop and market Shenton House redevelopment project, it can time it such that the marketing for the redeveloped Shenton House prime office will start from FY2027 after IOICB achieves 100% tenancy to avoid competition and conflicts of interests.
The Singapore REIT of IOIPG may be expanded when W Hotel at Marina View Residences is completed and achieves steady income in FY2027. W Hotel Singapore when injected into the REIT may be worth SGD600-1,000 million which would recoup all the investment costs of IOIPG in developing the hotel.
1 week ago
Few trading days at good volume but share price not picking up, faced some resistance at 2.16
5 days ago
EPF was selling some small quantities of IOIPG on 17th Sept and 19th Sept when IOIPG share price was going up on heavy volume. I suspect the buying last week was done by foreign funds, and EPF was taking the opportunity to trim some holdings that it bought below RM2.00.
The company data shows that foreign funds' holdings in IOIPG continued going up from 4.3% in April 2024 to 5.6% in May, 5.5% in June and 5.7% in July 2024.
Given that the average cost of entry for IOIPG is above RM2.00, I see little downside to IOIPG share price at this moment. But strong resistance is seen at 2.16-2.21 blocking the share price further rally.
I suspect it needs some good news to spark a new rally and the good news is around the corner, if not already happened.
One of the good news was the jumbo 50 bps rate cut by US Fed last week, which will drive Singapore rates lower and reduce interest expenses of IOIPG substantially at its Singapore subsidiaries.
4 days ago
https://www.thestar.com.my/business/business-news/2024/09/25/new-sfz-incentives-to-buoy-forest-city
IOIPG is one of the top picks of UOB research, for its increased launches and large Johor landbank.
Yet the share price is suffering from persistent selling from certain parties for some reasons not known to me.
4 days ago
Guys, any thoughts?
https://www.klsescreener.com/v2/announcements/view/7973073
3 days ago
The EGM is proposed at the request of CEO Lee for IOIPG shareholders to vote on the proposed participation of IOIPG in Shenton House redevelopment as the exclusive marketing agent, rather than as the developer. I see no reason not to vote for the proposal, as IOIPG will not need to fund the redevelopment of Shenton House but can still participate in this development and earn some commission and management fees. The more important thing is that IOIPG being the exclusive marketing agent can time the Shenton House products and launching time so as to avoid conflicts of interests and competition with its own IOI Central Boulevard office towers.
There is a good chance for IOICB to ramp up tenancy from 50% to 80% by year end and further to 95% by June 2025. By that time, IOICB will be profitable as interest expenses will have come down substantially after a projected rate cuts of 150 bps by June 2025.
Shenton House redevelopment could start in FY2026 after IOICB achieves over 90% tenancy and complete by FY2028. Then IOIPG will have sufficient cashflows (from substantial rental income from IOICB and sales from Marina View Residences, and reduced interest expenses) to participate as an equity partner or take over the project as initially envisaged. I think the timing will be just right then, but it is not the right time now for IOIPG to take over Shenton House. So I feel IOIPG top management and CEO Lee has been considerate and visionary.
After IOICB achieves over 90% occupancy, IOIPG may consider listing it up in a commercial REIT in Singapore to reduce gearing, and get back substantial funds (>S$2.0 billion) to help fund the redevelopment of Shenton House from FY2026. Once Shenton House is complete in FY2028 and achieves tenancy above 90%, it may then be injected into the Singapore commercial REIT to get back the invested money of at least S$1billion.
3 days ago
IOIPG is actually trading at multi-year highs but remains severely undervalued.
The double-edged sword is the very tight shareholding. We can see circa 82% that will not move. For a company that is so asset rich, there could be more immobile shareholders. This leaves low free float and it's generally a no go for big funds. Conversely, when the time is ripe, it is not difficult to go up multi-fold when the funds see realisable value.
We can't really say that market has not priced in the progress of new assets. In the past 2 years, the 2 most significant change is in its investment properties segment whereby IOI City Mall Phase 2 has been completed and doing very well + Singapore's IOI Central Boulevard TOP with lease confrimation. Actually share price has doubled in the process over this period.
I think it's obvious without a REIT the asset value will never be adequantely reflected in share price.
For us who are keen, we will have to be quite patient. Fortunately the tide has turned for rates, CEO Lee is making moves that strongly suggest REIT exercise is coming soon.
Nowadays Bursa so choppy, I am happy to be patient w this one. Should it crash I can buy more. The same can't be said for most other counters...those crash I get scared don't dare to sailang 😂 Just bought more today, and more in days to come should it linger lower
3 days ago
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dragon328
Against Q3 FY2024, Q4 core earnings would have been higher as well. Recall that in Q3 Fy2024, the earnings were boosted by a land sale amounting to RM211 million.
1 month ago