Imago Mall, Kota Kinabalu starts operation last year. High occupancy rate (over 90%), very good tenant mix, anchored by Parkson Grand, trendy Everise Supermarket, the rest are mostly very established specialty shops, F&B etc. etc. Recurrent cashflow from this new baby.
Share price reported as of the most lowest against NTA in recent report and may be targetted. Major shareholder not aggressive in lifting the share price. Will move when the co. back in radar screen of institutional funds. At the moment a boring counter.
Last time I met this asiapac staff. Company offer ESOS. Basically cheap shares for employees. But the employee say no confidence!!!! So din buy. Hahahahahahhaa. Employee also don't trust this stupid company. Useless la this company. Kampung developer only.
late last year I read that IMAGO Mall has tenants to reach critical. Unfortunately from what I read now the Mall cannot Break Even...Well, the company is already highly geared & now have raise Funds from shareholders. I hope they are successfull. I am not writing them off. The parcels of land in Semenyih & Nilai (near HSR) will be very valuable in the near future...
They don't have money to paid dividend this year all money they have need to cover the interest die hard if shopping mall continue not making money <<<<
something worrying is with their shopping mall achieving ~90% occupancy rate, they are still barely making any profit or even some losses. we need to differentiate whether its some startup cost due to new opening of shopping mall or the rental from tenant for Sabah is that low, or maybe giving some special discount for the 1st few years of rental? its hard to imagine a shopping mall with ~90% occupancy rate still barely making profit.
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theEdgeweekly.....2nd most undervalued property stocks after Tanco.... low prices make property stocks prime M&A targets.