Posted by james70 > 2014-04-21 21:57 | Report Abuse

Hi Icon, great article with the pics. RHB's recent report stated that DaMen will be injected into PavReit for RM550-600m more than what we projected a couple of weeks back. Do you think they are able to complete the mall within 2015?

Posted by sephiroth > 2014-04-21 22:16 | Report Abuse

taiko icon, pjd write up coming soon? thanks

Posted by Icon8888 > 2014-04-21 22:26 | Report Abuse

James I have no idea. But the annual report 2013 mentioned service apartments and shop offices completion by 2015. For a company that report 30 mil net profit, that alone should have a very meaningful impact.

The mall will of course propel it to a totally different level

Posted by Icon8888 > 2014-04-21 22:26 | Report Abuse

Septh I very busy lah. Already typing with two hands two feets

Posted by sephiroth > 2014-04-21 22:28 | Report Abuse

ok ok icon, man man lei, no hurry, keep up the splendid work

Posted by rikki > 2014-04-21 22:49 | Report Abuse

Desmond Lim is the Executive Chairman of Malton & Chairman of Pavilion Reit.
Planning to build Pavilion 2 in Pusat Bandar Damansara & Pavilion 3 in Bukit Jalil under Malton???
http://www.thestar.com.my/Business/Business-News/2014/04/21/New-benchmark-for-office-space-Sources-say-valuation-of-new-Pusat-Bandar-Damansara-seen-at-the-RM1/

Posted by tan1868 > 2014-04-21 22:53 | Report Abuse

with this write up , 15sen jump tomorrow? Thanks Icon in advance.

Posted by air01557 > 2014-04-22 00:02 | Report Abuse

Thanks ICON8888 for Gadang, GOB, Malton & OSK Prop. Your research has benefitted many of us - Thanks again.

Posted by Ricky Kiat > 2014-04-22 08:03 | Report Abuse

Icon, Thanks u very much.i start regret why don't buy more.(>v<)

Posted by johnny cash > 2014-04-22 08:23 | Report Abuse

MAYBE the run up on GOB,,is only before the rights issue?? how about after rights issue??

Posted by valuemaster > 2014-04-22 08:25 | Report Abuse

good job icon8888!

Posted by kancs3118 > 2014-04-23 19:49 | Report Abuse

@ Icon8888,
Wanna ask:
Do you know when will GOB award the rights issue + free warrants?
Also, at which point will they award those rights issue + free warrants? Like for shareholders registered as of what date?

Posted by Icon8888 > 2014-04-23 20:41 | Report Abuse

kancs the company mentioned in the announcement that they target to complete the rights issue by Q4

I dont know why it takes so long for them to complete the rights. By right, they should be able to complete it by third quarter.

Anyway, let's stick to Q4.

My guess is that they will call for EGM in second quarter and implement the rights issue in third quarter and complete it in 4th quarter

if you hold shares before the rights go ex (which should happen in Q3), you would be entitled to it

Posted by Icon8888 > 2014-04-23 20:47 | Report Abuse

if you are still trying to juggle your investment between tambun, malton and GOB, I would recommend that you forget about it.

Stock market is very complicated, dynamic and ever changing. Nobody will be able to be so smart as to allocate resources like what you are trying to do.

keep everything as simple as possible. This is one of the lessons I learned after so many years in stock market

Posted by kancs3118 > 2014-04-23 21:03 | Report Abuse

@ Icon8888, Honest to God, i really appreciate your advice. Thank you so much.

Actually, i plan to dispose all of Tambun Indah tomorrow and then finance the GOB purchase. It is pointless trying to wait for TI to go up any higher. Rather, the funds are better utilised to finance GOB (touted as the next Tambun INdah) which has a higher potential for capital appreciation compared to TI. After this, my portfolio will only be Malton and GOB.

What do you think?

By the way, i really like your article - GOB part 6. The way you put it is so sexy -
"The Bandar Cassia group (Malton & GOB) will be the blue eye boys of Seberang Prai Selatan. They are simply the best of the best."

Posted by tonylim > 2014-04-23 21:05 | Report Abuse

Icon another i3 gentleman. Great man.

Posted by Icon8888 > 2014-04-23 21:18 | Report Abuse

kancs, have you read my Part 7 ?

don't you think it is another Gadang in the making ?

Gadang has market cap of RM380 mil and Capital 21 can deliver RM200 mil profit to it, that is why it runs like crazy

GOB has market cap of RM250 mil and Da:Men can deliver easily RM200 mil profit to it.

From that perspective, even without the Bandar Cassia play, GOB is already bursting with value (even at current price)

Posted by Icon8888 > 2014-04-23 21:20 | Report Abuse

tonylim I am not really such a gentleman, I am just behaving normal like everybody else

it is because saturn is such a axxhxxx that I looked like a gentleman

Posted by tonylim > 2014-04-23 21:20 | Report Abuse

Icon be ta Han already.
I will take this one. But ri is sooo long away.

Posted by Icon8888 > 2014-04-23 21:21 | Report Abuse

tony pleae dont blame me if paper lose

like everybody says, overbought now

Posted by tonylim > 2014-04-23 21:26 | Report Abuse

I miss out 85 to 90c. Every day remise r also ask me permission to buy.
Former KLI holdings. I pantang a bit.

Posted by Icon8888 > 2014-04-23 21:28 | Report Abuse

oh dear, KLI is how many donkey years ago...

Posted by tonylim > 2014-04-23 21:33 | Report Abuse

Hahaha from 120 to 515. I still remember.
Other counters I don't touch are those of Lo KK and OLH. I know them when I started working.
Miss out big time on inari 40c and insas this time.
I entered market in 2012 when inari going for rights and wa

Posted by tonylim > 2014-04-23 21:34 | Report Abuse

For gob buy when see red

Posted by Bs1688 > 2014-04-23 21:39 | Report Abuse

Icon you took those photos yourself?

Posted by Icon8888 > 2014-04-23 21:46 | Report Abuse

bs1688 I took the photos !!!

when I walked over to the LRT station construction site, the site supervisor also came out to talk to me. He told me the station targeted completion in two years time

Posted by Bs1688 > 2014-04-23 21:51 | Report Abuse

Icon, you really hardworking, your hard work going to bring you plenty of good fortune! We tumpang sikit , ok. Kikiki

Posted by kancs3118 > 2014-04-24 20:19 | Report Abuse

@ Icon8888, got some questions to ask you...hopefully, you can help.

by the way, this is totally a beginner's question - what is the meaning of 2 for 2 rights issue? If i have 20K of GOB shares, do it mean i will be entitled to 20K rights issue? also, what is the impact of par value reduction on the price of the share? Why companies do it?

Sorry to ask so many questions.. just wanna know more.

What are the chances of a further consolidation tomorrow? Like whether the price will drop to below RM1.10? Looking to enter between RM1.05 to RM1.10...

Also, i notice that during the morning session - the price seems to be trading rather lowly but in the afternoon session, the price seems to be trading rather on the high side. Why is that so?

Posted by Icon8888 > 2014-04-24 22:08 | Report Abuse

kancs, you hold one share, you will be entitled to one rights share and 0.5 free warrants


At the time GOB announced the rights, their share price was 80 sen. In order to make the rights attractive, they propose 50 sen rights price.
However, their par value is RM1.00.
Company's Act disallows issuance of shares below par value. Meaning that if they maintain their par value at RM1.00, they cannot undertake the rights issue at 50 sen.
To comply with Company's Act, they have to cancel 50 sen so that their par value could be brought down to 50 sen. This will allow them to do the rights at 50 sen.

Cancellation of par value requires Court approval, which is a lengthy process that usually takes few months. That is why even though they announced the rights issue in February, they target to complete it only in Q4 of this year.

As for your question on how share price will behave in afternoon, morning, etc and whether it will come down or go up, I don't have an answer for that.

Sorry

Posted by kancs3118 > 2014-04-25 16:54 | Report Abuse

@ Icon8888,
There is one thing you should mention in your article. I believe the market segment that GOB is targeting at Bandar Cassia is the middle class income group. Why is this important? Coming from TI (Tambun Indah), i can say their flagship project - the Pearl City - is targeted to fill this void which is the lack of affordable quality housing for the middle class group.

Right now, at Penang Island, RM550K is considered affordable for a 1000 square feet condominium. Given this price tag, alot of middle class Penangites from the island moved to the mainland to purchase landed properties. During an economic recession, there is still a strong demand for good quality properties from this middle class group. This group of buyers will still contribute to the company's bottom line during the recession.

As a Penangite myself, i can say this - there is a serious lack of supply for good quality and affordable housing in Penang~!

That is the reason why i am interested in GOB - solely for the 350 acres of land they have at Bandar Cassia.

Posted by icon8888 > 2014-04-25 18:18 | Report Abuse

Thanks for the info

You stay at island or mainland ?

Posted by optimus7 > 2014-04-25 18:26 | Report Abuse

Posted by tonylim > Apr 23, 2014 09:26 PM | Report Abuse

I miss out 85 to 90c. Every day remise r also ask me permission to buy.
Former KLI holdings. I pantang a bit.


klih. boss bankrupt and hide oversea. tansri kltiong
equine. boss also run n hide oversea. dato Patrick badawi. defaulted condo management fees in sentral condo penthouse even months before the 2008 election.

gob.... let see...

Posted by tonylim > 2014-04-25 18:28 | Report Abuse

Thats why I pantang. A counter with lots of joy and sorrow.

Posted by optimus7 > 2014-04-25 18:28 | Report Abuse

I know Patrick personally even before he make it. it was in early 90s. we would go mamak in bangsar. n he drove a grandfather bmw7 series.

omg, I know both klih toing and equine Patrick, no wonder I m still fearful of GOB.

Posted by tonylim > 2014-04-25 18:33 | Report Abuse

Bad ending. Optimus pls pray to your god everyday and be blessed

Posted by tonylim > 2014-04-25 18:35 | Report Abuse

Icon bro.. care to put up a guess for gadang 4Q EPS?
Caveat emptied as usual

Posted by tonylim > 2014-04-25 18:35 | Report Abuse

* emptor

Posted by optimus7 > 2014-04-25 18:35 | Report Abuse

I pray everyday lo.

Posted by Adamlambert > 2014-04-25 18:36 | Report Abuse

Why so much sad ending. I want to make some money also difficult. ....

Posted by icon8888 > 2014-04-25 19:30 | Report Abuse

tonylim you are asking the possible ! I am not Tan Sri Icon

Posted by icon8888 > 2014-04-25 19:31 | Report Abuse

ayamlambat you jinx touched this counter and it goes down

buy200sell120 again ?

Posted by tonylim > 2014-04-25 19:32 | Report Abuse

Ok lor. Bro icon

Posted by kancs3118 > 2014-04-25 19:56 | Report Abuse

@ Icon8888,
Actually, I hail from the Island. Congratulations to you for discovering GOB and entering sometime in Mar’14 when the price is trading at about RM0.70. Even a born and breed Penangite like myself is oblivious to this opportunity.

Planning to visit Bandar Cassia this weekend to get a feel on how big this project is going to be. May snap a few pictures and share with everyone here. When we talk about GOB, we cannot exclude her “sibling” Malton.

It does NOT appear to be a coincidence that Malton’s 300 acres of land is situated right besides GOB’s 350 acres. It seems invisible forces unknown to us mere mortals are at work. My only worry for Malton is that the land does not belong to her but rather a joint venture with Batu Kawan Development S/B (a subsidiary of GOB). If Datuk Desmond Lim is really behind GOB, then there is no fear that this JV will fall out. Hopefully, someone can comment this.

My best bet is that GOB will provide the population boom that Malton needs to sustain her commercial development. Given what I have experienced at Tambun Indah and the magnitude of Bandar Cassia, I am planning to load on GOB at RM1.10 this coming Monday. Have been sitting on the sidelines waiting for the price to drop. Hopefully, with the upcoming rights issue, this will reduce my average cost for GOB. This is the price to pay for being a latecomer.

Posted by kancs3118 > 2014-04-25 20:04 | Report Abuse

@ Optimus7;
This is just my humble 2 cents opinion from an ordinary working class Penangite (with no special connection whatsoever).

One thing for sure, Penang state government is committed to develop Bandar Cassia. The land in Penang Island is limited thus forcing the price of land in Penang Island to spiral upwards. This coupled with the expected growth in population will push people to stay at the mainland.

The list of developments slated for Bandar Cassia consisted of:
IKEA (Ivory JV with Ikano), KDU University College (Paramount), University of Hull, Theme park, tendering for golf course soon, and importantly, it is flanked by industrial parks and very near to Penang Second Bridge.

Importantly, Penang state government does NOT want to see Bandar Cassia to fail. In terms of politics, there is bound to be symbiosis between the state government and property developers. The state government wants to show there is substantial development in Penang (i.e.; they are better administrator compared to BN) and they want to profit from increased volume of property transactions whilst the developers wants to make a profit. Hence, we can conclude that either side won’t like it if one is to screw up.

With this logic, hopefully, nothing bad will happen during our tenure when holding these shares for Malton and GOB.

Posted by icon8888 > 2014-04-25 20:05 | Report Abuse

kancs your worry about the JV being called off is unwarranted. I have invested in Bursa for a long time and I have never seen something like that happen unless there is a very good reason. Period

I think Malton is a good company. Give it some time you should be able to make good money.

Posted by icon8888 > 2014-04-25 20:12 | Report Abuse

kancs, when come to investing, DON'T WORRY ABOUT OPERATIONAL ISSUES. The management will handle it.

Focus on the financials, the concepts and the valuation.

You must remember you are the taukeh (you are the owner of the company !).

Posted by kancs3118 > 2014-04-25 20:25 | Report Abuse

@ Optimus7;
If I may add; the demise of Patrick Badawi/Lim in Penang is closely related to his ambitious project;
Penang Global City Center (PGCC). His plan is to build mega commercial / residential projects in a pristine land in Penang Island. Penang Global City was not well received by Penangites. Penang Island is already so bloody small and having a mega project like PGCC is simply not sustainable. This maybe one of the reasons why BN lost Penang. The rest is history.

However, the same cannot be said of Bandar Cassia. People’s sentiment towards Bandar Cassia has been quite positive.

So, you can see that in the former, Penangites objected towards Penang Global City whilst in the latter, Penangites favor Bandar Cassia. This information may help to reduce our risk when holding GOB.

Posted by optimus7 > 2014-04-25 20:38 | Report Abuse

ok whatever...zzzz... wake me up if penang has any big thing happen ok kancs3118. i love penang.