What you are doing is not new . Artificial volume is created to convince investors that the stock is hot . Foolish investors then come in and join the trend but the person manipulating will start selling and the stock price will collapse at the end .
Typical syndicate play

Chua I won't be hunted because find mangers understand the poor fundamentals of this stock. You and co that asked people to buy based on trend will be hunted like a dog when this stock tanks . Stocks that go up based on trend will eventually fall off a cliff because people that buy it don't know anything about the company and they merely joined the party in a childish way. Maybe you and Jeff can set up a fund and you can convince your investors that you invest based on trend .

Chua you make sure you don't become the dog one day when the share price plummet . People that got burned will hunt you down

Did your dogs tell you that if they were to sell the full stake to Dijaya the viability if the company may be a concern . Times Square is a failed project. All developers have a flagship project and Times Square is far from it

The worst has yet to come . It will come like a tidal wave and catch all naked swimmers by surprise . How do you justify a market cap that is now so close to Hunza prop when the company operational or cash profit is almost zero last year

Just realized that it is now the biggest Penang based developer by market cap. It is a significant milestone as some anaylsts will use it as benchmark for Penang propery now. Dethroned Hunza yesterday. Hunza held that title for easily more than five years.

well this company had been dethroned as the biggest penang based developer by market cap after a few years if not longer. Tambun held that title since yesterday

Market cap is quite close to Hunza properties now . Why would fund managers pay more for this company when it has no established track record ? there are always naked swimmers out there who thinks ivory is cheap based on nominal price compared to Tambun and Hunza . watch out ivory has issued more shares paid up compared to the other two thanks to their massive rights issue . Have they ever wondered what market cap is ?

For god sake kindly exercise some common sense. Rm 1 give Ivory a historical P/E of 15 or more , which is way higher than the average P/E for the sector. It will also give it the highest market cap among penang based developers when its last quarter's profit was the lowest among the Penang based developers. No small cap developer has that kind of P/E, unless you are a Govt linked company such as Sime , SPsetia or MRCB. A stock will only have a high P/E when profit growth is faster than expected. Kindly note that Ivory made a loss in the latest quarter and as a result, a discount not a premium will always be expected in their p/e ratio.

And both of u shall drown together

Ivory cock sucker go and get wet in the boss bed

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yes. Struck out means that KNM has won in legal terms

10 billion? You are the worst moron and wet market stall owner Ive ever seen. You dont even know that the Bayan Mutiara project is not entirely theirs and they can only recognize 50% of the revenue at best due to the joint venture. I dont know whether you chose to intentionally misinform potential investors or not. You can choose to say whatever you like but you have ovestated revenue by more than 5 bil. You are a small time con man at best. I may be small in physical size but influence wise, I am far from small.

You think you can keep on playing with people's money by asking them to buy a worthless stock. Nobody really knows whether you are buying or not. You may be selling. Investors need protection from moron like you.

You are worse than a moron. What games do you want to play ? Lets start by betting on when your company is going to be investigated by Bursa Malaysia for accounting fraud. Go back to the wet market for these type of trash recommendation, moron.

You better watch you said you little imbecile. Forums are mean for intelligent discussion and not a place to spread unsubstansiated rumours . Asking people to buy stocks out of thin air is unprofessional and unbecoming of an investor. You should go to the wet market for that.

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yewkhian. What made you think I didnt earn any money? No one has any proof that you earned either. Not everyone has the same motive when they ask people to buy shares. Are you so naive to think everyone is so generous to give people riskless profit for nothing? Some bosses ask people to buy in order for them to sell. Welcome to the real world. That is how many retail investors get burned. The person (insider) that asked you to buy are the ones laughing all the way to the bank. By the way, I dont trade such pathetic counters. I trade much more sophiscated derivaties (options, swaps)

Punters like you do get bitten at the end regardless of how much you claim you have made . Pls buy more tp is 2.00 by the way

yewkhian. since when are news facts? Reporters have never been trained in financial anylisis and you arent either. In fact, your substandard english needs substansial training before you are even in a position to anylze companies based on facts. The fact is that Ivory has surrendered 60% voting shares to Dijaya. The fact is that they made a consious decision to pay a price that was above market value for that land until they had to rope in Dijaya for help. The fact is that no developer will find a JV partner if they think that they have such a promising tract of land unless they have no money.

Jeez . They openly supported BN before the 08 election . How can they be supported by dap ?

Stanley Thai is smart. He has threatened to call an interbational conference should anything happens to his con

I wish to reiterate that last year profit of 32mil is not cash profit just like sephiroth said. People still dont get it. Analyts DO NOT COUNT one off profit like what Ivory achieved last year. My boss previosly has explicitly instructed me not to count one off profit. The company profit from operations was zero or close to zero last year. That will be figure analysts will use to compute EPS which in turn give the com a P/E of >100.The company HAS RECEIVED NO COVERAGE from any investment banks for more than a year now. Has anyone wondered why? Nanyang and newspapers dont count. Fund managers dont care about that. Only reserach houses can give formal ratings. Low may have acquired share but those were off market acquisitions. He could have simply bought it from one of his nominees. That does not constitute a buy, merely passsing the buck from the left hand to the right hand. Dont get to excited about Bayan Mutiara. Dijaya is the defacto owner and boss now as they have 60% voting rights.

Company is being liquidated . The only hope that is that they can somehow take out the few operational company from the listed parent and leave themselves with a shell company (listed vehicle) which can then be sold. Empty shells in Hong Kong can still fetch upwards of 10 mil. This is what you call a backdrop listing

lmf_hau. Equity ownership and voting rights are TWO DIFFERENT issue. I do not dispute that Ivory has 51% in equity but they own a different class of shares that give them only 45% voting rights. Read the Nanyang article carefully. 45% voting righs( 股权）for Ivory only. It is not uncommon for someone to own more than 50% of a company but has less than 50% voting rights. Venture capitalists normally demand higher voting righs. Some venture capitalists invest 30% equity and demand 51% voting righs. It has happened before. What really matters is how much voting rights a party has. Ivory in this case may own 51% of equity but Dijaya will be calling the shots in major decisions since Dijaya has 55% voting rights.

Kchongnz, Coldeye privately admitted that he lost money in Ivory to someone I know. Well Nanyang confirmed my concerns that Ivory have ceded control to Dijaya on the Bayan Mutiara project. 45% voting share mean that Dijaya is in control. Questions are being raised on why due dilligence was not done by the state govt before awarding them the project. Chances are that Ivory may lose bayan mutiara entirely if their cashflow does not improve.

Those that want to comment are more tham entitled to comment as well

Haha. They dont even have a controlling stake in World City. 45% voting rights and still want to boast. Come on. They dont even have control over the project. Dijaya is basically the major decision holder of the project and they will decide how much revenue will be recognized. The company was full of promised when they won the tender for World city. They may have 51% percent share in the JV but now Nanyang is saying that they have only 45% VOTING RIGHTS for the project. What happened. Please not that equity ownership and voting rights are two different things. It is possible for someone to have more voting rights than the percentage of shares they own. For example, Mark Zuckerberg in Facebook has more than 50% voting righs despite only owning 30% of shares

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Lee Tai who on earth will beleive you when you have the audacity to claim that Penang Times Square is fully sold. You lack even the most basic lesson in how to lie. Half the retail lots are not even open. I am sure photographs can be posted somewhere. Even a 10 year old will not believe such a white lie. It is a white elephant and will continue to be. In fact , it is the first new mall in Penang that flopped. There are malls in disrepair in Penang such as one stop but it only reached such a state after a few years. Penang Times Square is the only mall in Msia that I know of that opened half empty without any excitement. It is unsual or almost unheard of for a new mall to open half empty in such a central location. Kudos to the management for that

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All the GLCs such as MRCB, UEM, Zeland have started moving. I can smell a pre election rally

Hustle, the cash flow is negative and had been negative for some time but the profit seemed to be high. The profit does not concur with the negative cashflow. The question is where did their profit come from when the cashflow had always been negative. However, some accouting gain from revaluation partly explains that but anaylst dont count that. They want positive cash flow from operations.

Of course. They have a serious cash flow problem if you look at their balance sheet. They have only about 30 mil in cash. They owe the banks 300 mil when the company's market cap(value) is just slightly over 200mil. Their gearing is already sky high and no bank is going to lend them any more money. In fact, banks are quite cautious of a property bubble now and many buyers cannot get loans.Regardless of how good or bad the sales for Bayan Mutiara is, a lot of ambiguity remains.
(1) Putting aside the shareholding in the JV MOU,Who is in control of the JV? Danny Tan being the brother of Vincent Tan is known for being a ruthless businessman. He aint gonna give Ivory a free lunch. Recognition of profits for Ivory remains doubtful
(2)When is the project going to be approved? Purcahsers who made reservations now can still cancel later since no agreement can be signed now.
(3)How long can Ivory afford to wait? No approval means no cashflow and it is a serious drag on their financials

Syndicated play. It will not sustain. partly helped by Tambun.

You are really a moron.no one has the right to print shares . He can only exercise shares under esos which has to be approved by bursa.He is very smart indeed . He can go on printing all these toilet paper until he vomited one day . Talam CFO had to escape to Australia to avoid jail time or fraud . Your very smart CEO can join him there . Btw usually only richer people have the luxury of time to read forums.

What makes you think that he is rich at the first place and how stupid of you to make assumptions about my wealth and background. By that time maybe he will have join you in jail anyway

Hahaha couldn't believe how naive you are . Using syndicates to manipulate your share price can land you in jail. See you in jail.

Wow so many people couldn't wait to sell at 51 sen. Good luck trying again. Do u want me to introduce more syndicates to you ?

Another failed attempt. Haha volume is easily 3 months high but share is only going up by 1 or 2 sen

Need I add more . 50 percent underwater since IPO. IPO price was rm1. I don't want to add salt into wounds but I rarely see companies whose share price is so much underwater turn around . I can dig up some stats if u want

Hustle before you comment look at the mirror first. Not everyone ike you will work for such a pathetic company like Ivory directly or indirectly. You can bought more easily but you cannot assume that everyone is the same.I have MBAs from a top 10 business school ranked by Financial times. I dont need to work for a company that may land me in jail for abetting accounting fraud. I will never work for Ivory even if I am offered a salary exceeding 10k and neither will anyone that I know.

Yes. The balance sheet is a catasthrophe. Loan outstanding has almost doubled since thier IPO and cash flow from operations is always negative. Its not that investors do not accept companies that are highly geared but they must also be able to generate more cash flow and Ivory is bleeding cash. I am quite worried as they are staying afloat by drawing down existing loan facilities which are certainly not unlimited. All loans have convenants that must be adhered to such as debt to equity ratio. I am sure they are either close to or has also exceeded those limits. They risk having their existing facilities reviewed. By the way, this is the first company that I come across in which loan outstanding exceeds market cap.

It is not an uncommon practice for developers to sell properties when layout is still pending approval but most of them do it quitely to avoid problems with the authorties. ivory has no qualms about doing it agressively. Friends of mine in charge of housing loans told me some banks are reluctant to get involved in their projects. Whatever it is, the boss has to pray for a miracle.

well said. I have said all along that the project has not even been approved. Stakeholder agreements are not formal sales anyway. In fact, they risk antogonizing MPPP more by selling properties without an approved layout. I urge everyone to go to Penang Times Square to have a good hard look. They claimed that they whole project had been sold out 2 or 3 years back. I am more inclined to name the mall " Empty Times Mall". Not even half the retail lots are occupied. If you are inclined to take what these people say at face value, think again. You can fool some people some of the time but you cannot fool all the people all the time. Every dog has its day. Ive accompanied fund managers to the Penang times square mall before

Wow very impressive big talk . When someone talks big that way , some people are inclined to think the opposite . Have you ever heard of inferiority complex?

What made you think that I am stupid enough to buy this counter at ths first place. You can perhaps borrow me some shares to "short" at 10% interest per annum

Wow back lane information? If that's where you get all your information for stocks from , it suggests what kind of an imbecile you are. Do you think you have any credibility in telling me which anaylst to believe etc. In fact, the JV with Dijaya was public information. Have you heard of something called "annoucements" by publicly listed companies on Bursa website. Your english proficiency is appalling and you make decisions based on "back lane" information. I guess maybe thats where you belong. Did you go to a "back lane" college as well?

Ivory had no choice but to JV with Dijaya as they didnt have enough money to make the down payment for the Bayan Mutiara Land. Having said that, the real questions become( kchongnz correctly voiced his scepticism)
(1) Who has actual control of the JV and who makes the major decisions? shareholding is irrelevant when you dont have money
(2) How is profit going to be regonized on Ivory's part

Danny Tan being the brother of tycoon Vincent Tan is not known for being generous in treating business associates. He has no reason to. In fact, Ivory will be delusional to think that they can just treat him like an investor when they need his money as desperately as ever

kcchongnz, fong shi ling admitted off the record to someone that his investment in Ivory is a mistake. He has thousands of lots in another Penang based developer Tambun though. Tambun has delivered more tangible results compared to just trash talk for over a year. Is there any reason then for instituional funds to invest in Ivory if they want exposure to Penang properties? I am sure people are smart enough to know that answer. There was a lot of hype on Ivory when it listed because it was the first IPO by a developer on Bursa Malaysia for more than 2 years. However, other developers like Tambun and UOA followed suit. The hype has since died down. Institutions have more choices and liquidity is tight now