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KLSE: SPSETIA       SP SETIA BHD
Last Price Avg Target Price   Upside/Downside Price Call
3.42 3.88     +0.46 (13.45%)
* Average Target Price, Price Call and Upside/Downside are derived from Price Targets in the past 6 months.
** Price Targets are adjusted for Bonus Issue, Shares Split & Shares Consolidation (where applicable).
Date Open Price Target Price Upside/Downside Price Call Source News
23/06/2017 3.66 4.50 +0.84 (22.95%) BUY PUBLIC BANK Price Target News
23/06/2017 3.66 4.13 +0.47 (12.84%) BUY MIDF Price Target News
23/06/2017 3.66 4.08 +0.42 (11.48%) BUY KENANGA Price Target News
23/06/2017 3.66 4.00 +0.34 (9.29%) BUY HLG Price Target News
21/06/2017 3.64 4.03 +0.39 (10.71%) BUY MIDF Price Target News
12/05/2017 3.68 4.15 +0.47 (12.77%) BUY PUBLIC BANK Price Target News
12/05/2017 3.68 3.86 +0.18 (4.89%) BUY KENANGA Price Target News
12/05/2017 3.68 4.00 +0.32 (8.70%) BUY HLG Price Target News
19/04/2017 3.70 4.10 +0.40 (10.81%) BUY TA Price Target News
19/04/2017 3.70 4.15 +0.45 (12.16%) BUY PUBLIC BANK Price Target News
19/04/2017 3.70 4.03 +0.33 (8.92%) BUY MIDF Price Target News
19/04/2017 3.70 3.86 +0.16 (4.32%) BUY KENANGA Price Target News
19/04/2017 3.70 4.00 +0.30 (8.11%) BUY HLG Price Target News
17/04/2017 3.60 4.10 +0.50 (13.89%) BUY TA Price Target News
17/04/2017 3.60 4.15 +0.55 (15.28%) BUY PUBLIC BANK Price Target News
17/04/2017 3.60 4.00 +0.40 (11.11%) BUY MIDF Price Target News
17/04/2017 3.60 3.85 +0.25 (6.94%) BUY KENANGA Price Target News
17/04/2017 3.60 3.97 +0.37 (10.28%) BUY HLG Price Target News
17/04/2017 3.60 3.50 -0.10 (2.78%) HOLD ALLIANCE Price Target News
24/02/2017 3.40 3.82 +0.42 (12.35%) BUY TA Price Target News
24/02/2017 3.40 3.70 +0.30 (8.82%) BUY PUBLIC BANK Price Target News
24/02/2017 3.40 3.40 0.00 (0.00%) HOLD MIDF Price Target News
24/02/2017 3.40 3.53 +0.13 (3.82%) BUY KENANGA Price Target News
24/02/2017 3.40 3.29 -0.11 (3.24%) HOLD HLG Price Target News


Price Target Research Article/News (past 6 months)
23/06/2017  PUBLIC BANK SP SETIA - Formalises I&P Acquisition
23/06/2017  MIDF SP Setia - On The Fast Track To Gain FBMKLCI Status
23/06/2017  KENANGA S P Setia - 3rd Largest Land Owner
23/06/2017  HLG SP Setia (BUY) - Looking Beyond the Acquisition
21/06/2017  MIDF SP Setia - Land Acquisition In Melbourne Central Business District
12/05/2017  PUBLIC BANK SP Setia - Stronger Quarters Ahead
12/05/2017  KENANGA S P Setia Berhad - Broadly Within
12/05/2017  HLG SP Setia - Expecting Stronger 2H17
19/04/2017  TA SP SETIA - Wins Land Tender in Singapore
19/04/2017  PUBLIC BANK SP Setia - Embarking On Third Project In Singapore
19/04/2017  MIDF SP Setia - Land Banking In Singapore
19/04/2017  KENANGA S P Setia - 3rd Singapore Foray
19/04/2017  HLG SP Setia - Successful tender for a land in Singapore
17/04/2017  TA SP SETIA - Acquiring I&P Group
17/04/2017  PUBLIC BANK SP SETIA - Back In Pole Position
17/04/2017  MIDF SP Setia - Acquiring IP Group And Bangi Land
17/04/2017  KENANGA S P Setia - Acquiring I&P and Bangi land
17/04/2017  HLG SP Setia - Accretive Injection from PNB
17/04/2017  ALLIANCE SP SETIA - Riding on township development
24/02/2017  TA SP Setia - Impressive Sales Performance
24/02/2017  PUBLIC BANK SP Setia - Surpasses Sales Target
24/02/2017  MIDF SP Setia - Good Set Of Results In FY16
24/02/2017  KENANGA S P Setia - Surpasses Sales Targets
24/02/2017  HLG SP Setia - 4QFY16: Beat Expectation



  4 people like this.
 
Noni http://www.theedgemarkets.com/article/s-p-setia-take-over-ip-group-rm365b

Cash call ....aiyo, shareholders to pay
23/06/2017 00:50
windcloud 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.
23/06/2017 00:58
ks55 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.............
23/06/2017 09:16
mamatede 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?
23/06/2017 10:08
nikicheong 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.
23/06/2017 10:20
ks55 Total asset 7,100m
Total gross profit 45m
ROI gross 0.633%

So you still expect I&P to contribute to enlarged SP Setia ?
23/06/2017 10:25
ks55 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.........
23/06/2017 10:29
ks55 why not go for better alternative rather than seeing money taken out of your pocket ??????????
23/06/2017 10:30
windcloud 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.
23/06/2017 10:35
windcloud 7,100 million = 7.1 billion *****
23/06/2017 10:35
ks55 You know how to read financial statement?
Read it yourself.......
23/06/2017 10:40
ks55 Not net tangible asset lah.
Read carefully to understand the financial statement..........
23/06/2017 10:42
23/06/2017 10:42
Mohd Fahmi Bin Jaes 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%)
23/06/2017 10:43
ks55 You trust Public Invest Anal-list?
They will bring you to holland right here, right now.........
23/06/2017 10:48
ks55 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........
23/06/2017 10:48
drt6398 Most important thing..Are you still holding spsetia share @ks55?
23/06/2017 11:05
DarkNight Mega sales!!!!!!!
23/06/2017 11:07
drt6398 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.
23/06/2017 11:09
nikicheong windcloud, rnav =/= nta.
23/06/2017 11:15
ks55 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.......
23/06/2017 11:16
ks55 Most recent transaction was sold SP Setia at 3.99 on 22 May 2017......
23/06/2017 11:21
johnyeoyeo ks55 so better avoid at the moment??
23/06/2017 11:26
ks55 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......
23/06/2017 11:30
johnyeoyeo thanks
23/06/2017 11:31
johnyeoyeo ks55
23/06/2017 11:31
windcloud 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.
23/06/2017 11:49
windcloud 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.
23/06/2017 11:53
ks55 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............
23/06/2017 11:57
heng0202 i still wacthing and ready to all in
23/06/2017 11:59
windcloud 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.
23/06/2017 12:00
heng0202 thanks cloud
23/06/2017 12:01
mamatede 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
23/06/2017 12:16
mamatede buy
23/06/2017 12:16
heng0202 but please dont up first i haven collect enuf money to shoot haha
23/06/2017 12:38
heng0202 please dont shoot me haha
23/06/2017 12:38
Traderx when you have fear, just face it and once you conquer it, you will see Rainbow again. :)
23/06/2017 15:57
heng0202 i always buy down-ing stock high risk high return
23/06/2017 16:23
thek I am waiting for right time to acquire more.
23/06/2017 21:12
mamatede woah many analyst come out with a buy call... Hope next week still can collect more
23/06/2017 23:29
Edwardong53 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.
24/06/2017 12:44
ks55 You know CSR?
You know how to fish votes?
You know why Isa offered SPAD chairperson?

Still think they want to stay under shadow of LKS?

It is just matter of time SP Setia follow I&P business model.
Offer less non bumi units, give more discount to certain privilege group, make more from the under privilege.
For the enlarged SP Setia has a CSR to fulfilled..........
24/06/2017 15:44
ks55 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???????
24/06/2017 15:50
ks55 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......
24/06/2017 15:57
thek 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 :))
25/06/2017 11:14
ks55 I have been making in and out from SP Setia.
This time give you the chance to make.............
25/06/2017 11:57
mamatede not huge loss, but huge buying opportunity again.
25/06/2017 17:56
Hh5519 What does the good enter price??
27/06/2017 12:24
Vivoforever Is this stock like vivocom?
27/06/2017 15:56
mamatede @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?
27/06/2017 17:38


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