Malaysia is a screwed up market. The acquier share should be going down. Maybank has a history of overpaying for acquisition and the fund managers(what are they paid for?) should know better. Look at the absurd valuation they paid for BII which culminated in a rights issue.

Unless low eng hock leaves the company it's almost impossible to turn it around but it may also be too late by then . Mr rich who wants to buy a company with such high debts amd unclear land ownership . Ivory biggest land bank by far penang world city may have been seized by tropicana Bhd. Ivory is an empty bloated shell without that . As for that disposal the longer it waits the more likely it will collapse . They have no choice but to wait anyway because there is an ongoing lawsuit .Land value is going down and the disposal will suffer the same fate as the Rhb Cimb merger for exactly the same reasons

Mr rich did u read the conditons precedent of the disposal . They are almost impossible to fulfill . The fact that there is an resolved legal despite against that land speaks volumes about management quality and there is no access unless state gov acquires a certain part. Please note that the disposal will not proceed if the above two are not met

Errr I can recommend a few , Esente, Imej Jiwa. These firms probably wont even take Ivory on board as they dont want to risk their reputation. However, the conditions precedent for this deal is almost impossible to fulfill. The land apparently has no access and has an ongoing lawsuit. What to do? Ivory needs cash desperately

I have my pride. i wont do any IR for Ivory even if I am paid 1 million. Taking the money and making a complete mockery for yourself is not worth it. Any IR firms that work for them risk ridicule

Not only does Ivory has no strong point to support its shares, it has no point at all to support it

since when does a boss say negative things about his own company?

Haha a kids carnival is a much more appropriate place for this type of childish rant. These rantings may get you a place in the desperate housewives show at best and public ridicule at worst. You better sort out your english before doing anything else. You will be lucky not to see 20 sen before middle of next year

the boss has to abosrb whatever selling pressure there is for the next two weeks or risk a collapse of the rights issue. Par value is 50 sen and rights share cannot be sold below 50 sen. the share must be above 50 sen for the rights issue to proceed

Its a matter of time before this company gets into serious financial trouble with the amount of leverage it has and the pace it has accumulated landbank. It is apparent that the property market is slowing down drastically especially at the high end sector. Good times cannnot go on forever

Yes when that happens it will just be a goreng up and down penny stock without any regards to fundamentals no different to playing roulette

not at any price. The share price keeps hitting new record low and is fast becoming a penny stock Anyway, no physcial work no nothing has commenced on Penang World City site despite claiming good sales for two years already

haha I am not buying even at this price. I wont even buy at 30sen.

Looks like general lee still wants to proceed with the rights issue. somebody is supporting the share at 45 sen

IF they want to proceed with the rights issue, they have to get the share price back to 50sen and above by nook and by crook. Rights share cannot be sold below par value of 50 sen and no rights issue have been sold at a premium before

market cap very close to the 200 mil threshold. Many buy side funds are not allowed to keep stocks with a market cap below 200 mil. The existing funds if any may liquidate

Post removed.Why?

This company is easily worth 20 sen based on a yearly PATAMI of 20 mil. The P/E will still be low at 10

I can confirm that dato has a share margin account and has pledged his shares as collateral. I do not know which price can trigger margin call which may force the broker to liquidate his shares on the open market. I am a bit worried about that

They may have a serious problem in their joint venture project with Chinese developer Agile as well. The chairman of Agile had been detained by Chinese authorities and the future of the company remains unclear. That explains why the JV was extended again

A very shocking set of results indeed. Where is the person who claimed that this quarter's results will be good. It is worse than expected

asiaflile will not sell in the open market. They are a net cash company and dont need the cash desperately. They are more likely to sell the stake in an off market deal and wont sell it at this price. They will only consider selling it at a significantly higher price. I think the share price has bottomed out

I have never seen a developer who has to pay a newspaper to write about the sales of one particular project. It is so unprecedented. Trying to prove something too hard makes people believe otherwise

focus article is neutral with some negative bias at best. It highlighted their poor cashflow , high percentage of non cash profit in their eps as well as their need to raise funds. The typical retail investors who do not understand these accounting terms may view it positively but analysts will take that as an insidious criticism

Only idiots like you sell land that he thinks is likely to appreciate. Why sell an appreciating assest immediately unless you need cash desperately. You must understand that one ringgit of profit does not equal one ringgit of cash flow. If you look at ivory results, most of the profit does not translate to physical cash inflow. A company can be making 1 mil in profit but may still see its cash flow of operations in the red. a substansial portion of Ivory profit in the last two years came from revaluation

Do you understand English ? Focus points out their poor cash flow

Your speech is slurred and implausible at best you are talking cock with no evidence to back it up whatsoever I hope your big dick is elastic enough to withstand the plunge in the stock price

Where is the rebound Simon you are an amateur newbie who has no idea how to talk to professionals don't even try

Smart investors won't even blink at this stock full stop

Yes hock dog has built the biggest air conditioned homeless shelter in penang times square the beggars can sleep there during the day and no one will even notice

Doesn't matter how many projects they claimed they have in the pipeline . They don't even know The basics of managing a company properly . Give them a land beside the hsbc hq in Hong Kong and they will also screw up. they have only succeeded in building the largest white elephant in penang times square when they talked about gdv of 5 bil a few years ago. That is their track record in mega projects . If you think the company is cheap the management talk is even cheaper

Rebound ? Every stock rebounded today except this . Please put your word where your mouth is go and support the price

Only people who r free bothers to defend a trashy company

Agreed . When fund managers ask Steve why Ivory is undervalued . He will prob say I say undervalued means undervalued lah . What discount rate did you use for your financial model, Steve will answer the boss very good one always give discount to buyers one that's why all the prop buyers love him. Fund manager will tell him in that case I have to ask a risk premium to my discount rate which gives me a target price of 30 sen thank you for your time Steve

steveooikp, if you were to represent fund managers on behalf of Ivory, they will probably ask u why ivory has no consistent profit track record(cash profit). You can tell them aiya don't worry lah, we have so many mega projects(and mega white elephants). Why is your leverage so high and your cash level so low? all developers also like that mah. How are you going to undertake those projects with your low cash level, aiya can find money want lah, Malaysia still got so many banks . They should hire you as IR manager

If everybody can sell the same item at the same price , you won't see businesses fail . Many businesses in good locations do fail. If you open a store in klcc and you have a poor reputation , your business will still fail . if Ivory hires someone like you to talk to fund managers they will fail big time .

It is youR English cannot be used at the first place . your argument is useless they are not even arguments at the first place. Like I said will you let an idiot run your company even you have the best factory with the best equipment . Don't talk so much about landbnk and returns prove that you can deliver profits first

Hock dog thinks he is big enough to compete against two giant chinese devlepors in an oversupply market sp setia sales is peanuts comapared to country garden

In the last 2 years all rallies were short term and also regressed to new lows after a few days it is clear that those rallies were not fundamentally driven

Moron pls stop talking cock ivory gearing is a lot higher than major developers listed . Show proof that it's not having land banks is one thing but being able to develop is profitably is another if a moron is given a free plot of land beside klcc he will lose money from any development he does it's just like giving the worst carpenter the best german tool but the chair will still break when someone sits on it don't treat us like a bunch of fools

The writing on the wall is comings and you can buy 100 mil shares at 50 sen then

They do have a club in penang which some are avoiding as a result of a few shooting incidents

They have already developed a big white elephant in penang Times Square congrats

Hustle you have to ask lim guan eng himself

All anaylsts know that they don't have the capability to do it. They just announced that they are behind schedule in their payments for the land purchase in penang world city. Most vendors would have terminated the spa they have only 30 mil in cash and more than 350 mil in borrowings how to get additional debt financing ?

Post removed.Why?

Most developers share price are at or near one year high this one is re opposite and the share price is at one year low

No in the event that the company is liquidated after being wound up, secured creditors and debt holders such as bank and bondholders will get paid first and this company has a lot of debt indeed

Office in dataran prima shut down for a long time already

If you are the boss you will most likely be swimming at the deep end of the pool unless u get hard physical cash fast given the high debt. If u look at the cash flow of operations carefully the 8 mil jv profit was deducted completely meaning it is a non cash item and the co did not a single cent of the 8 mil in cash that explained why their cash flow is still negative