Member Profile
chipster1234  |
| Total Cumulative Posts |
20 |
| Joined |
Jan 2012 |
| Stocks chipster1234 likes |
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Comments
| | User Comments |
 |  29 Aug 2012, 11:20:47 AM
Hi guys
what do you guys think - maxis or digi?
im still scratching my head on this one |
| 01 Aug 2012, 9:23:52 AM
Has anyone invested in this share? and may i know what your opinions are? Im a technical person and im in research and development. my previous experience was with food emulsifiers. to make this product we used huge/substantial amounts of glycerine and fatty acids. in our R&D we are always in search for better alternatives to fatty acids because of its heavily increasing prices. southern acids fits this bill as its core business is glycerine and fatty acids. so from a chemistry standpoint i think this share is worth investing?
What do you guys out there think? |
| 31 Jul 2012, 3:32:53 PM
[QUOTE=nobody @ 31 Jul 2012, 12:57 PM]1427[/QUOTE]
murly sounds burly and blurry to me. hahahaha. actually i shouldnt be saying bad things about this. i did buy this share after reading it a few months back. im just hoping it might go up even more say 5 years down the road?
i just hope it doesnt go ''horland'' like that dato kramat (easter smelting) share did, ages ago. the irony is that times square is actually sitting on top of dato kramat's land now. hahaha
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| 31 Jul 2012, 8:07:42 AM
[QUOTE=wow123 @ 30 Jul 2012, 08:43 PM]1412[/QUOTE]
yeah you are right. the times square over there is rubbish. i didnt even bother to check it out when it opened. still went to GAMA instead. hahaha Iguess we have to look on the bright side. at least they managed to build ''a building''. haha |
| 31 Jul 2012, 8:05:09 AM
maybe we should get the guy from WELLCALL to come manage ivory??? he's young too. haha. see how well WELLCALL is doing? |
| 03 Jul 2012, 10:03:47 AM
Not bad Div 10C. yipeeeee! |
| 03 Jul 2012, 9:14:02 AM
hello destiny....
i have this stock in my list and i think its a nice stock. the dividends not high but i really feel it has room for growth. my 2 cents worth |
| 02 Jul 2012, 3:12:32 PM
To be willing to go below 50% in a jv would strongly attract future big partners for the other phases as the equity accounting portion and/or control issue are off the table. That to me, is and will be the key strategic move taken by Ivory that will secure its passage to further riches and success in this mammoth project. This factor alone has been underplayed or not even noticed by some analysts, but to me is absolutely vital and even transformational to the way Ivory is positioning the entire project. Great foresight.
Location
Could you seriously get a similar sized piece of connected land in Penang with a better location? The answer is a resounding NOOOOO. So, shouldn't investors accord a premium to this project, provided they are happy with the feasibility, viability and potential success of the project. The Bayan Mutiara land has very high development potential, as it is sandwiched between two successful developments – IJM Land‟s The Light and CP‟s Queensbay – with direct access to the mainland via the Penang Bridge. With proper execution, the Bayan Mutiara land can transform Ivory into one of the largest property developers in Penang. It is expected to launch its first development on this land by mid-2012, which comprises high-rise residential project with an estimated gross development value (GDV) of RM527m
Company background. Established in 1999, Ivory has grown into an established and reputable property developer in Penang and Northern Malaysia. Its project portfolio includes medium- to high-end apartments, luxury condominiums, semi-detached and bungalows, boutique gated communities, as well as retail and commercial lots. It embarked on its maiden property development project, the RM104.4m Tanjung Park Condominium, in mid-1999 and officially launched the project six months later during the
Chinese New Year of 2000. Subsequently in 2001, Ivory launched its second project known as Plaza Ivory and Palace Hill, a mixed-use development project and landed residential development with a total GDV of RM125.7m. Since then, it has grown from strength-to-strength and managed to establish its
foothold in Penang by launching several other property developments, either on its own or through JVs.
Ivory was listed on the Main Market of Bursa Malaysia on 28 July 2010 and other than its property development-related business, it is also involved in the F&B business via quick-service restaurants (franchisee of Marybrown and operator of a food court).
Projects pipeline. Currently, Ivory has several ongoing projects with an estimated GDV of more than RM500m. All the projects have received good response with a robust take-up rate of above 80%. Moving forward in the next couple of years, it is expected to launch several development projects with a total estimated GDV of more than RM1.5bn. Other than the mixed development project in Tanjung Malim mentioned earlier, Ivory‟s upcoming projects also include Phase 3 of Penang Times Square – known as The Wave with an estimated GDV of RM233.8m and slated to be launched later this year.
Also in the pipeline is its mixed-development project called the City Mall in Tanjung Tokong, Penang that has an estimated GDV of RM433.3m. To be built on 2.4 acres of land, City Mall consists of luxury condominiums, known as City Residence, that are perched above a tourism-themed shopping mall with a
shopping area of approximately 300,000 sq ft.
Ivory’s upcoming property development projects
Island Resort Bungalows ,Batu Ferringhi RM76m
Aston Plaza Phase 1 & 3, Bukit Mertajam RM96m
The Wave @ Penang Times Square, Georgetown RM233.8m
The Latitude Mount Erskine RM171.6m
Ivory Eco Park, Tanjung Malim RM420m
City Mall, Tanjung Tokong RM380.2m
City Residence, Tanjung Tokong RM53.1m
Share price action - You will not be very far wrong to get in at close to its par value of 50 sen, enough said. You are getting in at the low end of its 6 month price range.
RM240psf - Some may think its expensive. Ivory stumped SP Setia with an good bid, I think SP Setia would be even willing now to buy the whole deal from Ivory for RM260psf, seriously. SP Setia probably thought no one would pay above RM225psf for the deal. Look at Penang, this is going to be the most stable state in the country for at least the next 2 elections. Lim Guan Eng will stay in power for the good he has done, and MNCs will continue to pour in investments for those very reasons. All in, the vibrant state economy should ensure for a very firm property market. Its popularity among tourists, esp Singaporeans and HKers, will ensure strong demand from those countries' private purchasers as well.
Branding
Ivory is not a fly by night operator or a mid sized, mid range type of developer. Their properties are closer to the luxury range and their products have been well received in the past. This is called branding. This Bayan Mutiara deal will launch them to be one of the country's top developers within a few years. You can only judge their execution ability by what they have promised and delivered so far - and they have done that very well.
Landbanking
This is a critical factor for any decent property company. You need a decent sized reserves of land so that investors can readily assess your progressive development projects. But you also do not want to be loaded up with too much land as that is capital cost. The structure which Ivory got is the best of both worlds, huge attractive tract with progressive roll outs and payments structure. What more you want, its easily to most attractive piece of land this size in Penang. If you can only do one project in Malaysia, wouldn't that be Penang?
If Things Panned Out Properly
The project could add RM1.00 in net present value to Ivory if they achieve even a 90% take up rate for their projects. This doe not even take in the potential upward GDV revision for the project as each phase began to roll out.
Share Buying Strategy
One can easily buy this below 55 sen and hold for the next two years for a good return (i.e. more than 100%). Over the shorter term, i.e. 1-3 months, I see the shares climbing back to 70 sen at least to better reflect the unique potential of the company
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| 02 Jul 2012, 3:12:07 PM
Quoted from malaysiafinance.blogspot.com
The company has been in the news a lot over the past few months. However, just like the rest, property stocks sort of fell out of favour, and them compounded with the volatile events from the Euro crisis, the stock fell just like the rest. Even though the bit of news about Bayan Mutiara was supposed to be very significant, many investors were terribly concerned with "fund raising" part of the equation. Added to that was the recent rights issue which was sweetened with warrants and bonus - in a weakening market, those fund raising exercises would not be popular.
Now all that is behind the company, we should really just sit down and assess the worth, viability and risk associated with this company.
Ivory Properties Group Bhd is presently in talks with several parties to jointly develop certain parcels of land at its RM10bn Bayan Mutiara development. Its CEO Murly Manokharan said yesterday that Ivory hopes to seal at least one deal in three months. It is likely that the first bunch of investors will jointly develop portions involving the commercial aspect of the proposed Penang World City project, such as the medical facilities and offices which are in the masterplan. Ivory had much earlier sealed the agreement with the Penang government to purchase the Bayan Mutiara land for RM1.1bil or at RM240psf – versus the reserve price of RM200psf. Measuring at 103 acres, the land comprises 68 acres of existing land and the remaining 35 acres that would have to be reclaimed.
Last Nov, Ivory announced that it was entering into a 49:51 joint venture with Dijaya Corp Bhd to develop Bayan Mutiara. The concerns over Ivory’s ability to fund the massive acquisition cost of RM1.072bn had seen the share price dived to RM0.49 level from a high of RM0.70 after announcing that it had received the letter of acceptance from PDC. Given its:
1) tiny balance sheet with total asset of less than RM500mn in 2010;
2) small market capitalization of less than RM250mn;
3) as well as a relatively high gearing ratio which stood at 0.7x as at 30 June 2011
Funding Is Actually In Phases
Progressive payment structure, coupled with joint venture partner are their paths to minimize risk. Unlike the conventional Sales and Purchase agreement (SPA) where the purchaser is required to pay the consideration in full within 3 months from the date of SPA, the state government had allowed the group to repay the acquisition cost in several tranches within 5 years. Ivory will be taking over the Bayan Mutiara land in phases in accordance to the payment schedule. In other words, the land area to be transferred to the group will have an equivalent value with the amount that Ivory paid to PDC.
Hence the funding issue has been quite overblown. Progressive sales and roping in jv partners will allow for a smooth unfolding to complete the masterplan.
Ivory has formed a 51-49 joint venture (JV) with its business associate, Dijaya Corporation Bhd (Dijaya) to jointly develop Bayan Mutiara Land. The JV company had appointed Ivory as the turnkey builder to undertake construction works on the land. As stipulated in the builder agreement, Ivory will receive a sum equivalent to 48% of the GDV of each phase of the development. Note that pursuant to the appointment, Ivory should sell 6% of its share in the JV company to Dijaya, resulting in a change of the equity participation in the JV company, whereby the JV company is now an associate company of Ivory (stake reduced to 45% from 51%). Nevertheless, we understand that both parties have equal voting rights in the matter of decision making
Key Strategic Move
I think Ivory is being very smart here, to receive funds equiv to 48% of GDV for each phase almost guarantee a smooth procession to acquiring and fulfilling the other phases. Even if Ivory had to sell the 6% to reduce its stake to 45%, its a good deal. The willingness to do that kind of deal with Dijaya (and I believe with other partners for the other phases) show that Ivory has NO INTENTION to sell any part of the land. To flip some of the land would have been very enticing and an easy way out for many companies in Ivory's position.
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| 08 May 2012, 10:35:14 AM
this was and still is in my watchlist. and that is exactly what it is...literally. i have been ''watching it'' i dont know why i havent bought it yet. i guess i wasnt bold enough to go in. at 1.30 i thought it was really high. {:doh}{:mad}{:star}
this stock has been high on my watchlist since klsetrader & ilovedividend was talking about it way back in january. :) |
| 23 Apr 2012, 10:24:12 AM
oh man! went up really high today{:star} pening |
| 23 Apr 2012, 9:38:55 AM
Rosdi: you are one rude |
| 05 Apr 2012, 5:06:05 PM
WHAT the hell is going on with this share????? i havent had the chance to buy it yet! arrrrggggghhhhhhhhh pulling my hair out... |
| 01 Mar 2012, 1:29:31 PM
thank you 'ilovedividend'. value your input. |
| 01 Mar 2012, 11:35:50 AM
sorry i mean im at a loss as to whether i should sell my UMCCA and buy bstea instead??
ARRRGGGHHHH!!!!! *tearing my hair out**{:star} |
| 01 Mar 2012, 11:35:03 AM
Can Anyone tell me which is better? UMCCA or Boustead???
Would greatly appreciate your views. im at a loss which to buy |
| 06 Jan 2012, 11:20:44 AM
thank you 'i love dividend' appreciate your comments |
| 05 Jan 2012, 3:42:49 PM
I heard this has been a good share. anyone has this share kindly advice? i keep passing it on the federal highway but the building looks old (*haha*) - which kinda prevented me from buying the share. |
| 05 Jan 2012, 3:04:10 PM
is this worth investing for its dividends? the prices always look stable
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| 05 Jan 2012, 3:03:30 PM
Im thinking of getting NCB as it gives a really high dividend. how come no one has commented on this? is this a good share worth investing for its dividends? |
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