@lukesharewalker

Pg 5
(collectively, the “Imperial Grande Project”)
The total estimated Gross Development Value (“GDV”) of the Imperial Grande Project is RM499.8 million with a Gross Development Cost (“GDC”) estimated at RM337.8 million and an estimated gross development profit of RM162.0 million. As at 31 August 2018, being the date of valuation of the Modular Land, the project is at 10% completion.

Pg 7
(collectively, the “Amarene and Mori Project”)
The total estimated GDV of the Amarene and Mori Project is RM665.4 million with a GDC estimated at RM443.4 million and an estimated gross development profit of RM222.0 million. As at 31 August 2018, being the date of valuation of the Ideal Homes Land, the Amarene and Mori Project is at 10% completion.

Pg 8
(collectively, the “Imperial Ville Project”)
The total estimated GDV of the Imperial Ville Project is RM246.5 million with a GDC estimated at RM153.8 million and an estimated gross development profit of RM92.7 million. As at 31 August 2018, being the date of valuation of the Premium Flame Land, the project is at 18% completion.

Clear enough for you? Very obvious you didn't even read the circular properly. Go do your homework first, then come talk to me.

@Keith from what I understand, the private placement is not guaranteed (hence why you cannot include this figure when you calculate EPS unless you know for sure it's going to happen) and is only being done to reduce Alex Ooi's shareholding spread from 90% down to 75%. They also did mention if they cannot find any investor, he'll just dispose his shares to interested parties (whether its in the market or off-market). And since Ideal never really like to deal with the public, there's a very good chance the shares will go to a company insider. Just my 2 cents. We'll have to see.

One thing for sure is that the upcoming QR is going to be good (at least 15 million) but whether it hits 20 million as spygame has said idk.

Correct. Just make sure you buy ok? Got 3 flash crash already. Don't just keep looking at Ken and then come here and complain "bursa semua tipu" when you missed the boat lol all those who bought at 1.05 all now laughing to the bank ;)

@apolloang because I am not spygame007 and I didn't actually buy so low. But if you didn't buy after yesterday's announcement, I think there's something very wrong with you. Anyways, enough of me talking. I'll let the share price do the talking ok? :)

@lukesharewalker I think you must be kicking yourself now for selling too early and I really cannot tell if you actually mean what you said above about the 7c EPS dilution or if you're just trying to pull a spygame007 and lie to the people on this forum. Either way, not cool.

Come, let me clear some doubts here. I have not looked into the numbers in detail because there is a lot to go through but this is what I understand so far.

3 property injections - Modular, Ideal Homes, Premium Flame (all 100% ownership by Ideal once acquisition completed). When you buy the asset - you get 3 things : assets (including retained earnings) + debts + any future profit. Let's take a look at each asset to be injected.

Modular

Assets - 103.4 million
Debt - 129 K
Future Profits - 162 million
Price - 202 million
Net Shareholder Gain : 63.1 million

Ideal Homes

Assets - 52.7 million
Debt - 204 K
Future Profits - 222 million
Price - 117.9 million
Net Shareholder Gain : 156.8 million

Premium Flame

Assets - 4.8 million
Debt - 0
Future Profits - 92.7 million
Price - 33.2 million
Net Shareholder Gain : 64.3 million

Assets + Future Profits - 637.3 million
Price Paid - 353 million
Total Shareholder Gain from injections - 284.2 million

ARE YOU ALL F**KING CRAZY TO SAY YOU ARE LOSING OUT???
Major shareholder who gets the new shares ofc gain the most but ikan bilis like us really cannot complain when we are not even expected to contribute. You all must also remember that the only profit Data Alex gets from doing all this is the appreciation in his own shares since he did not take any cash out of the company for the asset injection.

Yes, EPS will be diluted for minority shareholders like you and I (I will need to calculate this further when I'm back from work) but at the end of the day, which company is going to give you all this free money (284.2 million over 3 years) and expect 0 in return? And from my rough calculations, the dilutions won't be much (2-3c) per share assuming maximum takeup rate and minimum expenditure on SGA to push the remaining unsold units.

And @lukesharewalker, I think it's very bad for you say EPS is 7c. You just bulat2 lifted the figures from the document but what you never mentioned is that those figure was EPS for FY2017. It is also very clear that they only used that as an example. The profits from the new developments in all 3 subsidiaries that started this year were NOT even included. Don't lie to people here or I promise you I will call you our on it.

Luckily I put my money where my mouth is and topped up yesterday yesterday under 1.18 after that big 50k buy transaction in the afternoon. Then someone came and bought 150k in one go just before closing. If anything, that was confirmation that the stock is still deeply undervalued. Very clear already I think. If you still don't buy, don't complain later. Choice is yours.

Just now someone dump 50k shares and someone immediately bought back that same amount. Who's the idiot here? Clearly the one who jumps to conclusions.

Yeah, but profit will also increase substantially. Let me work it out tonight. Market cap only 130 million but they're injecting almost 3x that amount in assets at no cost to shareholders. @lukesharewalker, more than welcome to sell your shares to us! Anything below 1.15 we'll sapu. Just queue to sell only and we'll do the rest :)

Haven't had the time to read through the whole announcement but what @The_Reds said seems to be correct. Also, the assets were purchased at close to book value.

@vivabursa your comment doesn't make sense because the directors are still going to end up owning 75% of the assets and not like ikon bills like us have to fork out anything also. Seems very positive to me!

3 days and the support is still there. Have we found the bottom? :)

Tom has a point. For some reason, they're desperate for it not to drop below 1.04 hmm

Looks like the big boys aren't letting it drop below 1.04. 200K shares sold in opening minutes and the order queue was immediately replenished wtf

@Natu Ral story creation eh? And since when IUBIB have high-end properties in their portfolio? I dare you to open the annual report and show me. If can, I'll wire RM100K to you without question. Let's see if you can your money where your mouth is.

This got lawyered in the VIS forum just now, now coming here for R2 lol

And look at him happily saying now thanks to all those who panic. Bloody disgusting I tell you but to those who sold early, you all really deserve it.

He also knows that half of you here are idiots who just look at technicals and nothing else. Well if you wanted to use technicals to play this counter, the first thing you have to know is that technicals doesn't really apply to illiquid counters with low volume. Price also doesn't really matter in the short-run. As long as the value still intact, sooner or later, will definitely appreciate. All it needs is a catalyst like a new project/good QR.

Hope this is a lesson to some of you.

Nothing unusual. Just the accumulators protecting their interests. I'll be very surprised if someone dumps at that price. They will also need at least minimum 2 million shares to clear the RM1 hurdle. If nobody dumps, it also shows that the dumping was a one-off as Alan had spredicted. Him and other funds probably laughing all the way to the bank now since it never went below their cost and they've probably kaw-kaw accumulated before the next run-up in less than a month before QR is released.

Also, serves all of you who sold right. How many times I warned you that spygame007 is an ikan bilis like the rest of us. He just wants the lowest cost and will do anything to get it. But because you didn't do you own research, only you suffer now by coming here everyday to read his comments and doubt your own decision. Good job (Y)

Looks like spygame007 has finally bought some shares himself. This marks an end to his negativity. Good riddance.

^ another reason why people shouldn't take you seriously apolloang. For you to even suggest merger between 2 unrelated companies with no synergyistic benefits from merging. Just what the f**k.

I also did not tell people to buy. I'm not like spygame007 that have the balls to openly say sell, sell. Whenever I have posted here in this forum, I only analyse what I see whether it is fundamental or technical but never have I told people here to buy. And I never will. Yes, sometimes I may say hold because the price drops were not accompanied by volume and thus not significant for an illiquid counter like this but since when have I asked anyone to buy or chase higher??? When I first started posting, I even put disclaimer in my posts saying you should buy/sell at your own risk.

Also, nobody is blaming you for anything. I am just telling them to ignore your rants because they are nonsensical and not grounded in logic. Come to us with an unbiased and well-researched opinion and we will listen. But come here and talk like an apek in a coffee shop and we will treat you like one.

@Tom, don't waste your time arguing with apolloang. He's got a lot of time to waste anyways, we don't. Yes, he may have got 1 call right with MI but he screwed up so many others like Ken. He thought just because he picked a company that seem fundamentally sound in the past that it will shoot up to the moon. This is called myopic and one-sided thinking and now he blames the whole world for Ken's failure. But any reasonably educated person looking at the annual report can clearly see that Ken had no earnings visibility (project completed in Q4) and was bound to have a crappy Q1 but ofc, he won't tell you this because it shows his own analysis is flawed although he talks a lot about fundamentals. He also keeps talking about IPG's high-end condos that so-called "tak laku" but if only he bothered to sit down and read the annual report, he will know that none of those properties are included in IUBIB and the ones that are have sales rates of nothing less than 90%. But talk is cheap isn't it? So thats all he does. Just let him be. Sour grapes will always be sour and worse, make sure nobody else gains just because he didn't.

@Natu Rai it is also the law that should an audit resign due to extraordinary circumstances (questionable accounting practices etc) it is their duty and responsibility to release a statement informing the bourse that as to the exact reason of their resignation so that creditors, shareholders and the public are aware of the circumstances. Failing to do so makes them liable for prosecution if the future auditors find discrepancies in the books that went unreported.

So don't come here spreading fear, uncertainty and doubt. Get your facts straight first. I think a lot of people don't understand the nature of these announcements and immediately assume that something is amiss. I think management's statement was very clear. Remember that they will also be held liable if they make a public announcement stating one reason that conflict with the auditor's announcement (made only if the resignation was due to extraordinary circumstances).

@Natu Rai, except I don't think there was anything controversial about THIS particular resignation? Don't generalise incidents.

RJ87 is correct. Lack of volume in this counter can skew the price greatly. Not reflective of the company's intrinsic value. Plus, the auditor resignation is not controversial since it's linked to differences over fees. Just be patient and hold, should definitely rebound. Fundamentals still very much intact.

I don’t think he did because he was too busy being sad about Ken that he didn’t buy Ideal when he had the chance. Even now at 1.20, he still won’t buy and then come here and complain that Ideal is a tipu company after the next QR. Classic @apolloang.

Woah, looks like we know which counter's gonna do well next then ;)

Somebody or a few people seem desperate to keep the price low at all costs. I wonder why.

Hit 1.26 on good volume and was a actually doing quite well until closing when one fella sold 50k at one go

@spygame007 same friend who said last QR was going to be 3 mil loss? Lol

Sigh, malas nak layan

@apolloang Ideal condos in Sg Ara has nothing to do with IUBIB. Those are under IPG. Please check your facts.

@The_Reds as pointed out by @thor85, it's not surprising because of small cap nature + low liquidity. So when demand peaks, limit up is all but certain.

No matter what happens on a day-to-day basis, fundamentals will always be intact. Only a matter of time before it rebounds again. After all, how low can a PE3 company go? Just need some sharks to start buying back again and the price will b pushed up.

@dlye7735 not necessarily. If they own less than 5% (around 5.5 million shares), they have no obligation to report their dealings. So it's possible that an operator accumulated say 5 million shares when it was ridiculously cheap and has been dumping since last week.

Usually there are just 10-15 mins apart. Now almost half an hour dy. Let's wait and see

I counted around 400-500K shares disposed this time. Still a lot lower than the 1.5-2.0 million during each of the last dumps. So I'd say not so not so severe - provided there no further dumps today.

Whoever is doing this doesn't want to see the price go up. Accumulation perhaps?

Guys, please don't queue. You're giving the seller a chance to dump!

@spygame007 you still have not told us what you mean by selldown. Please define so that we are clear. Just now retrace a little bit after a 10c surge and you said that was a selldown. Like that means every time drop a few cents also is a selldown lah!

@The_Reds noted, my fried haha. I am only here to put @spygame007 in his place anyways :))

More than 800K shares bought in one go at 11:15 and yet my graph on the CIMB trading platform didn't update. Anyone else having this issue?

Probably explains why there was a lack of follow-through momentum and the price collapsed?

@Warn3r I didn't talk about the rights issue because I was overthinking what he said, I did it so that others here know what a rights issue is about, why would a company call for one and what are the implications if it is announced.

@spygame007 people ask you about rights issue, you answer about morning star. Keep it up!

Also, I think you better tell us now what you mean by selldown. Price drop 1-2c for you is also a selldown so come, lets clarify before market reopens so we know if you're talking cock or not.

@The_Reds don't give him too much credit. He is neither rich nor a spy. He is just a pathetic kiasu ikan bilis.

And as for rights issue, for a company which really has never needed to raise cash from its own shareholders, calling a rights issue will almost certainly send the stock price into a limit down with the announcement.

Alex Ooi can forget about his own wealth tied to this stock if he does something like that because all the current shareholders will immediately dispose. And we've all seen how it only takes about 2-3 million shares to send the share price crashing from 1.70 down to 1.30.

There is no chance this could happen honestly. If it does, I will do 2 things - (1) sell-off my entire holdings immediately at whatever market price and (2) never post on this forum again. That's how ridiculous it will be if they do call for a rights issue. Asset-rich, no-debt, clear earnings visibility and you call for rights issue? I think Alex can forget about any future shareholder backing if he does something like that.

@Warn3r still too early to say tbh. I think I'm very lucky that I am a long-term holder with very low costs so I could afford to hold tight during the selldown knowing that I was still in profit. Not many here have that privilege, esp those who bought quite late after the limit up.

I am actually not confident anymore in saying what will happen in the short-term but if you are a long-term holder (at least 1 year), you really have nothing to worry about. Even if it drops to RM1, you will definitely see some big fish accumulating because of how stupidly undervalued it will be at that price.

But be careful guys, there is still a chance of a selldown. I was so confident that the first time it happened was just a one-off. I was wrong and I could be wrong again now despite the encouraging signs that I now see. So just be cautious!

Yes, heavy volume buying! Big fishes are back :DDD

@spygame007 you said the same thing Monday, Tuesday and Wednesday and here we are on Thursday still waiting for it. Also, funny you say it every time you see an increase in the number of buy orders in the queue lol

@spygame007 what the f**k. Honestly.

@The_Reds no, you are mistaken. If it was me, I wouldn't be here. Just think about it. After Friday's round 2 selloff I honestly didn't know what to say so I just waited. 3 days now, no round 3. Let's see how this week goes.

@johnsonlee is right. A dojo did form yesterday and if there's a follow-through today, we could see a rebound. 3 days into the week and still no sign of the selldown - despite the fact that on Monday, Tuesday and Wednesday, sometimes there were almost 100K shares at 1.25, an easy target for those looking to selldown.

So always, just dropping by to remind everyone here that @spygame007 is a liar and 9/10 times has got it completely wrong. Not that he cares - to him, as long as people don't push the price up further, he's happy. And not like he'll buy either. He's the type of sohai who will still say bad things even if the stock is at RM1. Follow at your own risk and just remember that this is the same guy who said last QR would be a RM3 million loss. If his "insider friend" gave him that information, then I'm not so sure you should still trust the things he says - but that's none of my business. Plus, we don't even know if this fired is real considering sypgame's lies are worse than a primary school kid's.

Good start to the morning already but let's hope we can flush out some weak sellers before pushing up further today :)

One retailer selling 150K-200K shares is a selldown for you is it @spygame??? And where's the real selldown you were talking about since yesterday? I've queued right down near 1.10 and we're all still waiting for someone to dispose a million plus shares like last week so we can get it for super cheap.

This just shows that your call last Friday was a lucky fluke. You have been saying selldown many, many times since god knows when and just so happened that on THAT day, what you said became a reality. Still doesn't mean you have specific insider information - after all, even a broken clock is right twice a day.

Privatise means the boss should pay a premium, no? Should be s higher price, not lower! And corporate exercise could mean many things - incorporation of subsidiary is also a corporate exercise. Show us your proof that it will be a rights issue @spygame007

What the hell

@Warn3r I guess we now also know exactly how many shares were sold by those big fish during the selldown. This also means normal retailers sold off almost 2.6 million shares on that day. Crazy!!! I wonder how many iqapex picked up from the total. They also very smart not to reveal the exact amount hmm.