Posted by diablo88 > 2012-09-07 16:58 | Report Abuse

nice one! More to come next week

Posted by b824osg > 2012-09-12 20:06 | Report Abuse

Hopefully Pakatan is the ruling government in the next election,then this counter will shine and good for investment.

Posted by Tan Ayden > 2012-10-04 21:43 | Report Abuse

any good news after Acquisition of the entire equity interest in TTG Holdings Sdn Bhd ?

Posted by tcleng > 2012-11-19 20:33 | Report Abuse

Anyone here buying Ivory?

Posted by penangboy88 > 2012-11-20 09:31 | Report Abuse

Why??

Posted by Matsaham Mashuk > 2012-12-13 18:07 | Report Abuse

Mmm..uptrend mode.potential for uptrend(window dressing)..smile--)

Posted by smartguy > 2012-12-16 22:19 | Report Abuse

This week will move! stay tuned! TP0.55

Posted by Mahathir > 2012-12-17 11:35 | Report Abuse

Smartguy, thanks for the tips! Must buy you lunch.

Posted by smartguy > 2012-12-17 17:03 | Report Abuse

According to reliable sources, Credit Suisse is slowly accumulate this stock.

Posted by impartiality > 2012-12-21 15:01 |

Post removed.Why?

Posted by Tan Ayden > 2012-12-27 09:40 | Report Abuse

hi impartiality, for your advice i need to drop this counter ?

Posted by impartiality > 2012-12-31 00:05 | Report Abuse

Get rid of it. The company is partially insolvent . It owes more than what it is worth. Loans of 250mil vs market cap of 210 mil and falling. The boss for sure will try to keep it around 50 sen to avoid margin call and he can't do it forever

Posted by vijayprem > 2012-12-31 01:44 | Report Abuse

While the target price is 2.40, the current price is 0.49 - wouldn't they change the TP is the condition is bad? How reliable is the TP mentioned in this site?

Posted by impartiality > 2012-12-31 02:04 | Report Abuse

The TP was by an Aminvest analyst who would have been fired by now unless their management is really substandard. I've read the initial IPO write up and I already know that it was a load of crap.they were the underwriter of course but the way they exagaratted the growth rate was way too obvious. One anaylst that graduated from London business school agreed with me . I have a postgraduate degree in finance not from a Malaysian college but from quite a renowned business school. I know analysts that got fired in Hong Kong for far less than that. Using the most mundane calculations, the company has to be making more than 150 mil a year to justify 2.40. Their latest quarterly profit is 6 mil and the 1st quarter profit (although high on the surface ) was one off . In fact , they didn't make any money from operations.

Posted by fankim > 2012-12-31 02:18 | Report Abuse

hi impartiality, i just checked in thestar.com.. ivory was making profit in the last three qtrs as below.

Q1 3.490 mil
Q2 27.357 mil
Q3 1.933 mil

Can you share with us how do we know "they didn't make any money from operations"? can we see it from the report?

BTW, ivory is having a roadshow at Penang from 27 Dec 2012 to 1 Jan 2013.
Anyone went there and observed if their sales is not really good?

Posted by rlch > 2012-12-31 03:26 | Report Abuse

Good buy at current level. So far no annoucement of director selling recently.

IVORY PROPERTIES GROUP BERHAD (673211–M)
UNAUDITED INTERIM FINANCIAL REPORT
FOR THE FINANCIAL PERIOD ENDED 30 SEPTEMBER 2012
PART B – EXPLANATORY NOTES PURSUANT TO PART A OF APPENDIX 9B OF THE
LISTING REQUIREMENTS (Cont’d)
B1 Review of Performance (Cont’d)
Profit before Tax:
The current year quarter ended 30 September 2012 recorded profit before tax of RM2.3 million as
compared to RM5.6 million in the preceding year’s corresponding quarter ended 30 September 2011.
A lower profit before tax in current quarter was because most of the new projects have just
commenced.

B3 Prospects for the current financial year
In addition, the much anticipated The Wave project, which launched in 3rd quarter and the up-coming City Residence and City Mall projects which will be launched by end of this financial year, will spur the sales of the Group towards the end of the year.

Posted by impartiality > 2012-12-31 06:52 | Report Abuse

Q2 profit came from revaluation of properties. Profit from operations is almost zero. It is a "one off" item that analysts have to exclude because it is a one off item. The latest profit is not even 1/3 of its rivals in Penang such as Hunza and Tambun indah. I do not deny that Ivory is profitable bit it has to make a lot more than q3 excluding revaluation to convince analysts that its share is even worth 1 ringgit which is just the IPO price

Posted by fankim > 2012-12-31 09:10 | Report Abuse

Hi Impartiality, this could explain where the $ from for Q2.
http://www.nanyang.com/node/426816?tid=459 (6 Mar 2012).

2.27亿未入账

该公司将要推出的项目包括The Latitude、槟城时代广场的第三和第四阶段、位于丹绒道光的City Mall和City Residence。

刘永福说：“去年，我们已完成和正在进行的项目录得1亿2180万令吉销售额，尚未入账销售则有2亿2700万令吉。 ...

If i interpreted correctly from the newspaper above, it is not really from revaluation of properties ...

Posted by fankim > 2012-12-31 09:11 | Report Abuse

June 19, 2012 from thestar.com

Ivory will be launching five residential projects in the second half of this year and early 2013 with a gross development value (GDV) of over RM800mil. Among the projects are the phase three and four Penang Times Square in Jalan Dato' Keramat with a GDV of RM300 million.

At a press conference after the group's AGM, Murly said the first phase of residential development in Bayan Mutiara would be launched year-end or the first quarter of next year with a gross development value of between RM700mil and RM800mil.

Other developments include the Island Resort bungalow project in Batu Ferringhi with 22 exclusive units ranging from 5,000 sq ft to 8,000 sq ft at a GDV value of between RM20 million and RM25 million to be launched year-end. - Bernama

Posted by impartiality > 2012-12-31 11:47 | Report Abuse

Brave words when no planning permission has been given for the bayan mutiara project. The BN govt must thank them as PDC has not done any due diligence before selling the land to them . Payment for the land is far from settled and no wonder why they are desperate for joint venture partners . I won't name who has been approached . by the way , the nanyang article has nothing to do with q2 results , it's merely what the boss says . A quarterly revenue of 30 mil does not tally with the sales figures above

Posted by fankim > 2012-12-31 11:59 | Report Abuse

Regarding the 30mil in nanyang, it mentioned before q2 result. Just the profit from previous projects.

Posted by fankim > 2012-12-31 12:01 | Report Abuse

I agreed thing will change if BN wins in the coming election.

Posted by millionaire > 2012-12-31 12:17 | Report Abuse

i agreed with impartiality, ivory is overtrading and the gearing ratio is too high, any delay in the projects execution will affect the viability of the company

Posted by vijayprem > 2012-12-31 14:27 | Report Abuse

thanks guys for throwing some light...I hope this counter picks up..

Posted by fankim > 2012-12-31 20:28 | Report Abuse

I think we also need to bear in mind that all figures we see in the reports (qty & annual) are obsolete.

Most important thing is they can sell most of their properties (at least 80%) in these recent launch projects.

Development in Bayan Mutiara will come in multiple phases and $$$ collection from buyers also come in multiple stages.

Happy New Year 2013!!!

Posted by impartiality > 2013-01-03 10:22 |

Post removed.Why?

Posted by rlch > 2013-01-18 22:47 | Report Abuse

Ivory-buy with avg target price RM 2.4(which brokerage firm?),upside of 370.59% from RM 0.51 currently.

Posted by smartguy > 2013-01-19 00:36 | Report Abuse

Monday will hit 0.55

Posted by qwerty > 2013-01-19 13:47 | Report Abuse

likely to move higher to 0.58

Posted by Hustle > 2013-01-21 09:46 | Report Abuse

Target 0.60 till CNY

Posted by caven101 > 2013-01-29 12:26 | Report Abuse

CNY is near just left 2 week but seem not up still down oh....

Posted by eftee > 2013-01-29 12:58 | Report Abuse

Hahaha. Got conned by whoever. How to go 2.40

Posted by caven101 > 2013-01-29 13:33 | Report Abuse

0.485 if still could not hold drop until 0.470 then no eye see already....counter can be close liao...

Posted by impartiality > 2013-01-29 14:22 | Report Abuse

TP2.40 by none other than AmInvestment which did their IPO. There is definently a conflict of interest here. Their reputation is at stake here.

Posted by aec166 > 2013-02-06 16:32 | Report Abuse

penang world city phase 1A condo sneak preview for 4 blocks,total 800 units near fully sold @$670/sf to $800/sf from built up of 615sf,800sf,1000sf,1300sf & 1500sf.

Posted by lmf_hau > 2013-02-06 17:29 | Report Abuse

AEC166:-

Althought it fully sold , this sale value will only recognise into PnL in the coming 2 years.

The AmInvestment TP 2.40 , i believe is a Mission Impossible or 007 for next coming 1 year.

From chart , Ivory is a death water stock . It has no charting signal can read. Hence its not worthy to look at all currently.

Those who still dreaming of CNY effect , god bless u .

Posted by impartiality > 2013-02-07 08:57 |

Post removed.Why?

Posted by skyland > 2013-02-07 23:24 | Report Abuse

good counter will move

Posted by smartguy > 2013-02-14 15:58 | Report Abuse

Ivory is moving slowly!!!!

Posted by danielgoh > 2013-02-14 16:01 | Report Abuse

can buy???

Posted by smartguy > 2013-02-14 16:06 | Report Abuse

PWC project newsflow! cooking....

Posted by Hustle > 2013-02-14 16:19 | Report Abuse

Any news from KL side regarding to the hanging project?

Posted by lyechin2002 > 2013-02-14 16:44 | Report Abuse

today latest news, soon this developer will be delisted.

Posted by smartguy > 2013-02-14 16:50 | Report Abuse

because M&A?

Posted by lyechin2002 > 2013-02-14 16:52 | Report Abuse

not sure, let me call and check with the director.

Posted by smartguy > 2013-02-14 16:58 | Report Abuse

Dont bluff la, tmw i sailang!

Posted by danielgoh > 2013-02-14 16:59 | Report Abuse

wow???

Posted by Hustle > 2013-02-14 17:01 | Report Abuse

I'm believe this is all in time,since most of the properties counter already move,just left this little hut.

Posted by danielgoh > 2013-02-14 17:06 | Report Abuse

If like that,must buy more at tomoro!!!GO,GO,GO!!!

Posted by kcchongnz > 2013-02-14 17:49 | Report Abuse

if you are a smartguy, you better listen to impartiality.