a smart investor should swap its WC to PA now

Investment can only bear fruits with patient investor

Whether or not the mega project will really ruin the small-mid cap developers is often in my mind as this represent a great transformation from the company to change from the "Ikan Bilis" to "Landmark" player in the industry and this require a bold vision from the management as well as support from shareholders.

Before I go on further,I need to tell that I am not a shareholders of this company yet but Ivory has been in my watch list since I noticed that they are aggressively expanding when I saw it through the Penang world project. I am not holding it for now is not because I do not like their business model just that they have not reached the price that I required which I think could compensate for the risk and efforts as well as required returns.

Growing company from mid to big scale is not easy as this required big fundings as well as taking into account of business risk (project cant generate reasonable sales),and thus borrowings are unavoidable.The gearing level will further increase if Pudu land deal are passed as they do not have enough cash in developing it.

All this represent (financial and business risk) negatives aspect of the company. To add further,both of this project will definitely be impacted as governments measure to tackle mid-high price prop (future 1 years annual results may not good,possible) and but all this will be temporary.

Coming back to the investment aspect,I regard this stocks as a high-growth stocks and all this depends on the company ability to coming out with the project that meets market criteria (from requirements as well price). I am even suspect there may be further cash call via private placement or rights issues to accumulate more moneys as I think their cash flow ability are not feasible but all this should not be problem if you believe in the company management.Invest in this company is like riding on the Bold Dream of the company management.

When the price is right,I will definitely support this vision as there are not much company have such vision. Whether the megaproject will really drives the company future growth, currently all this is still a doubt,the only things we can do is only tracking their sales closely and wait for the right price if you wish to participate in this company.

When all dust have clear, I think we will never see the price at this level.

I am still waiting for opportunity. For those who have bought the shares,just hold and wait for 3 years and we can see whether it is a "trap" or a fruits.

Cheers

Dear Coldwind,good sharing.But wouldn't the expected gain from sales of asset is RM 0.34 (0.22+0.12)

HLI is a good company but is not a good investment at current price.

There is also potential listing of REIT as well

Appreciate your hard work buddy Icon8888

Tkg8 the chinese phrase simply means when we back off,a solid defence can be form (in the case of Pjdev,if there are any negative things pop in prop sectors,Pjdev should have the ability to sustain comfortably with its earnings visibility and and asset) and when we move a step forward, we can attack sharply,aggressively and precisely as we can ride on the strong growth on Pjdev

Acelee and Vaentec you are right,L&G is not a dividend play stock but rather an aggressive growth stocks,. I am not expecting any dividend anyway and I do not wish to in this current level.

I would rather prefer them to come out with another project with the performance that could parallel with Foresta phase 1 and elements ampang performance.

Icon888,yup,unavoidable,short-term profits are fascinating but we do not see any respectable short term player even if we taken the scope from global wide. It is possible to earn short-term money from the market as well as generating an above average results but the most,from my perspective,they can only be a successful trader but hardly they can upgrade towards to become a respectable investor.Do we dare to put few millions or hundreds of millions into speculative stocks,but we can put few billions over the value stocks and we can continue with good sleep.haha.

Your postings not bad buddy (i.e. GOB,Inno).Wish to share you more in future.Keep it up.

A good quality value stocks provide us with great flexibility to invest for long-term (2-5 years) as well as to trade in a short period (days to weeks) as they provide us with a safety net via its earnings as well strong asset. Mr OTB is probably right as the next Q result will certainly be a catalyst with inclusion of proceeds of sale of asset.

Yup,I agreed with you Tkg8 with the expiry of 6 years and the strong unbilled sales of RM 800m (although it might not much) from property sector as well as the "potential listing" of its cable division (although rumors for long time) Pjdev can also be long-term play.For me,if even they do not list the cable division,with the increasing earnings,they company business model as whole should be reasonably ok. WIth this they will have 3 "roda" running stably (prop development,hotel,and cable).

退可守，进可攻

For tkg8,Delloyd is a good company with diversified operation from automotive as well as plantation.Although the result for cumulative result do not spike investor due to vast contraction as a result of currency depreciation.But however, their business model are stable coupled with the strong cash balance and they are gradually paying off debts. Although it might not have the same performance as per Hartalega or Dsonis which rapid pace but over the long term this type of company should generate reasonably well return.

Investment can only bear fruits with patient investor

Lepeng 85,both Plenitude and Ivory are the good company. However,they possess different characteristics of growth catalyst. For Ivory,as noted,they are on large scale of multi-billion project together with together with the potential Plaza Rakyat project. To add on further, In addition to act as a co-developer in the Penang Project,they are also awarded a construction contract by the JV co and thus making them a double income stream.Borrowings are unavoidable for the company to growth as they are now transforming from the midscale player to become a landmark player. And thus for me I categorized them as a high growth player.

For the Plenitude site,they enjoyed stable growth over the pass few years. Although they had suffered a contraction in financial performance in last financial due to the delays in launching the new projects however sign of recovery has been noted starting from 2h2013.And now they are full-load on target of total GDV 1billion from different project.Although they might not have Mega project like Ivory but their ability should not be undermine as they focus on stable stream coupled with solid financial position as well as large cash pile. Thus,for me I categorized them as a value play in which they might not have a high growth potential in financial performance as per Ivory (if Ivory can make the whole project works) but to maintain a annual EPS of at least 20-30 cents (from current of 19cents) for over the next few years, the return should be satisfactory if not superb. Coupled with the strong financial position,makes the company more resilient.

The above just my opinion. Please do not let my opinion to affect your decisions.

Icon 888,I have going through your postings recently (from Pjdev to Uncle Koon blog as well as Ivory) and I am happy to see you have the maturity level that I wish to see as I can feel it from the wordings. Keep it up buddy.

Thank you again Mr Cytew. 经一事，长一智.Really appreciate it.

Mr Cytew, May I know how can you determine the 10-year warrant should give 40% premium at the initial stage. thanks in advance.

Might have chance for building high-fixed income portfolio

encorp-La,RCLS 6%