Posted by skyland > 2013-02-15 12:05 | Report Abuse

ivory...bayan mutiara project worth RM10b kick start

Posted by skyland > 2013-02-16 07:22 | Report Abuse

hoh seh...coming up slowly...tp 0.64-0.68

Posted by yanxuan8 > 2013-02-16 08:42 | Report Abuse

Their partner in Bayan Mutiara project, DIJACOR surged on Friday, IVORY will follow next week!

Posted by skyland > 2013-02-16 10:27 | Report Abuse

ivory go go go

Posted by smartguy > 2013-02-16 12:25 | Report Abuse

Technically speaking, at price 0.51, has break 20 day, 50 day and 100 day MA,bullish signal shown! R1 will be 0.53, next 0.57 !

Posted by skyland > 2013-02-17 12:53 | Report Abuse

buy & hold 1 yr sure > RM1

Posted by rlch > 2013-02-17 13:03 | Report Abuse

This stock Fong Siling(Cold Eye) hold the most shares(4.58million) in his portfolio.

Posted by skyland > 2013-02-17 13:46 | Report Abuse

yes..company so so only but good prospect v bayan mutiara project worth RM10 b...this project will help ivory become one of the top developer in malaysia...investment is based on future not based on past record

Posted by skyland > 2013-02-18 15:00 | Report Abuse

ivory go go go

Posted by skyland > 2013-02-18 18:10 | Report Abuse

Ivory coming slowly

Posted by tcleng > 2013-02-18 19:11 | Report Abuse

I agree. Ivory coming up slowly

Posted by smartguy > 2013-02-18 23:36 | Report Abuse

tmw will hit 0.55

Posted by tasoke > 2013-02-19 05:56 | Report Abuse

m.u. go 2-1

Posted by smartguy > 2013-02-19 18:56 | Report Abuse

foreign fund is accumulating...cook cook cook

Posted by necro > 2013-02-19 19:20 | Report Abuse

Foreign fund?
Which foreign fund?

Posted by skyland > 2013-02-19 19:57 | Report Abuse

foreign fun?

Posted by Hustle > 2013-02-19 23:06 | Report Abuse

Quantum fund :)

Posted by necro > 2013-02-19 23:21 | Report Abuse

Quantum fund?
Any web page?
Oooo...

Posted by Hustle > 2013-02-19 23:30 | Report Abuse

Just kidding lah,the fund manager just marriage no time to kacau bursa yet :)

Posted by skyland > 2013-02-23 15:18 | Report Abuse

what is the good news?

Posted by Hustle > 2013-02-25 16:07 | Report Abuse

Some old dick is retired please refer to the announcement :)

Posted by impartiality > 2013-03-05 01:32 | Report Abuse

Well their P&L is finally in the red, congragulations.Running out of investment properties to revalue? bernad madoff's accountant may be able to offer some creative accounting to boost your P&L. Can I suggest some fictitious deep in the money call options ? Revaluation gains looked impressive on paper hey but you cant fool all the people all the time. Thier outstanding loan has exceeded market cap by more than 50%. Even net gearing (loan-cash) exceeded market cap as well. Its not even worth 10 cent in my honest opinion. The company is partially insolvent. It owes more money than it is worth. What is basically means that creditors will get a lot less than what they are owed in the event of liquidation.

Posted by Frank Soweto > 2013-03-05 02:47 | Report Abuse

o.k damn i was waiting for .55 :( so now habuk pun tarak :( I sell tomollow at least my bapak will be happy :)

Posted by danielgoh > 2013-03-05 03:15 | Report Abuse

It is the time to add some more IVORY.

Posted by Frank Soweto > 2013-03-05 03:52 | Report Abuse

daniel goh, can u give me good reason to buy instead of sell?TQVM

Posted by kcchongnz > 2013-03-05 07:52 | Report Abuse

Ivory has released its annual financial results ending 31/12/2012. Revenue and earnings have increased by big margins from 132m and 24.4m to 212m and 32.5m respectively. From the income statement, the revenue and profit appear to be from its ordinary business of property development and hospitality business, as there is no gain/loss of any “extra-ordinary items”. Very good so far. a huge annual growth, or is it? Earnings per share is 8.8 sen. With the present price of Ivory at 49 sen now, the PE ratio is only at 5.5. Isn’t it damn cheap? A value stock? Hold on until you look carefully into the details of financial statements.
Out of the 32.6 m profit, “other operating income” which forms part of the EBIT is RM51.3m, just what is this “other operating income”? A look at their cash flows statement may provide some clues. Cash flow from their ordinary business is negative at RM38.3m. Where is the hard cash when they declared that they made 32.5m? Digging deeper into the CFFO shows that they have booked in 36.6m in “Bargain purchase gain on acquisition of subsidiaries” as part of the EBIT, which should rightfully be an extra-ordinary gain at the bottom of the income statement. Isn’t there a conflict of the statement of income and the cash flow statement? Is it financial misstatement or financial shenanigan? Neither is credible for Ivory. I was curious about who the external auditor is. OMG, it is KPMG. This cannot be. I must have made a wrong inference.
That means for the last two years, though Ivory announced that they have made more than 10 sen per share each year, none of the year has yield any real cash from operations. In actual fact, more cash has to be found to carry out its business. Last year, a right issues was called to get 102m and borrowed another 214m from bank to carry on its business as well as paying back 220m debt. Some 26m worth of land was also sold to help in its cash flow. Ivory’s latest total debt is RM287m, or 64 sen per share. Total receivables of 177m is 0.83 times revenue, or it will take more than 8 months to collect. How much are these receivables collectible?

Posted by skyland > Feb 17, 2013 01:46 PM | Report Abuse
yes..company so so only but good prospect v bayan mutiara project worth RM10 b...this project will help ivory become one of the top developer in malaysia...investment is based on future not based on past record

True, true, true, investment is about the future, not the past. My question is:
1. When is this 10b project going to start?
2. Why is the delay?
3. Where is the funding coming from?
4. If the project starts, how is it translated to profit for Ivory?
5. How much will the profit per year?
6. How do you estimate the profit and prospect for Ivory?

Posted by impartiality > 2013-03-05 10:27 | Report Abuse

Cut it while you can . They would have been investigated if they are listed in Hong Kong or Singapore . Kchongz is right . Cash flow has never been positive . There is more that meets the eye.Ive never seen Companies that owe more than market cap made profit for so many quarters. Their latest quarterly is the red though. all pyramid schemes do unravel eventually anyway. They are also other undervalued developers that have delivered tangble results and not just talk and talk . Why do they think that they are so speacial ?

Posted by Hustle > 2013-03-06 13:25 | Report Abuse

necro bro mcm mn counter ni TA or FA ok tak?

Posted by necro > 2013-03-06 13:29 | Report Abuse

Buy Hua Yang,Klccp,mahsing(after right,bonus n waran issue) and glomac...
♥♡♥
HUHU

Posted by Hustle > 2013-03-06 13:31 | Report Abuse

After bonus issue msh blh naik ker?

Posted by necro > 2013-03-06 13:35 | Report Abuse

Bro Hustle sayang itu bergantong kepada SALES kalo sales up wowo...
Eps pon naik,mcm umw n pos eps naik bnyak org beli...
Lagipon mahsing dpt anugerah wat,pojek kat kwasan yang lalala...
♥♡♥

Posted by Hustle > 2013-03-06 13:37 | Report Abuse

ok bro...

Posted by necro > 2013-03-06 13:43 | Report Abuse

Sama same bro...
♥♡♥

Posted by millionaire > 2013-03-06 14:00 | Report Abuse

Agreed with kc and impartiality, ivory is a problematic company, potential PN17.......

Posted by Hustle > 2013-03-06 14:03 | Report Abuse

Possibly need the call Ivory properties see whether they are willing to sell their apartment with 30% discount rate,time for speculate properties :)

Posted by impartiality > 2013-03-06 14:34 | Report Abuse

Of course they would have made a loss if not for the one off bargain purchase gain for the whole year. Analysts don't count one off gains like that . as far as analysts are concerned it is a loss making company . I have worked in such positions before for investment banks

Posted by impartiality > 2013-03-06 14:38 | Report Abuse

Aminvest is managed by a bunch of clowns anyway . They did their listing . Aminvestment recently wrote off saag loans

Posted by kcchongnz > 2013-03-06 15:23 | Report Abuse

“Bargain purchase gain on acquisition of subsidiaries” of 36.6m? Never heard of such term in accounting. Have you, Impartiality? Anyway I am not an accountant. You were in the industry before and you know better than me. Can this actually be allowed to be booked as "gain" included in the Ebit item? Can it be even be considered as an "extra-ordinary gain", unlike reevaluation gain? I know if they acquire the subsidiaries with a higher price than the book values, they would have an item in the balance sheet as "Goodwill" which would be amortized in a number of years. But bought at a bargain price, how ah? Negative goodwill? But their auditor is KPMG woh! Hope some accountants can clarify.

Posted by impartiality > 2013-03-06 16:08 | Report Abuse

I am no accountant myself . I am a finance graduate. I am as baffled as you . I do know that revaluation from investment properties can be recognized as accounting profit but I am not sure about acquisitions of your own subsidiary though . Regardless whether its legal or not a company needs hard cash from its operations . one off revaluation , write backs etc cannot be sustained .

Posted by millionaire > 2013-03-06 16:15 | Report Abuse

it can be considered as consolidated gain, smile, :-)

Posted by danielgoh > 2013-03-07 04:10 | Report Abuse

So,all of sifu here;may i know this company still can buy or not?Thk u much much!

Posted by kcchongnz > 2013-03-07 04:17 | Report Abuse

daniel, I have to say that the way you do investing by asking people here to buy or not to buy a particular stock is very wrong. It won't do you any good. Try read and understand all the opinions expressed here, evaluate yourself and make your own decisions. If you don't understand some of things said, don't involve yourself in the stock market. Go learn up how to read and interpret financial statements first. If you still insist to invest in the stock market, which is usually good for building your wealth in the long-term, just buy icap, or the FBM30 index fund. No sifu here.

Posted by danielgoh > 2013-03-07 04:46 | Report Abuse

Bro,can u let me know have any good company and the share price is below RM1?Thk u.

Posted by kcchongnz > 2013-03-07 06:47 | Report Abuse

daniel, read the following link if you want my opinion. Again don't just follow. Analyze your self and make your own decision:

http://klse.i3investor.com/servlets/forum/900167643.jsp

Posted by rlch > 2013-03-07 07:35 | Report Abuse

SKP as recommended by KCChong faced selling pressure by major shareholders but not Ivory.

Posted by kcchongnz > 2013-03-07 07:53 | Report Abuse

daniel, see you should follow advice from rich, not me. Go buy Ivory. By the way, i never recommend what share to buy. I only analyze company business and offer my opinion of their business and its value (which could be wrong), not its share price.

Posted by tptan45 > 2013-03-07 08:26 | Report Abuse

'SKP as recommended by KCChong faced selling pressure by major shareholders but not Ivory.'
That is why the stomach is the key organ.

Posted by impartiality > 2013-03-07 09:21 | Report Abuse

daniel. you should never buy shares based on rumours or recomendation by so and so. It is the easiest way to make yourself broke. Like kchongz said, you are the one ultimately responsible for your decision not rich or someone else. Ive been asked to recommend stocks many times but I am quite reluctant to (although I am technically qualified to do it). I cannot tell anyone explicitly which direction a stock will go. Bursa Malaysia is notorious for its inefficiency and it is not uncommon for dodgy stocks to rally for longer than usual

Posted by Hustle > 2013-03-07 09:29 | Report Abuse

Yup,for more secure investment strategies just click the price target column in i3 and you will meet all the top guru suggestion.Just follow what their said is enough,since they have more reputable image.

Posted by kcchongnz > 2013-03-07 09:37 | Report Abuse

Yup, the average price target by all the top gurus is RM2.40 for Ivory. There is an upside of hefty RM1.90, 400%! Don't miss the boat. impartiality, I think we should also jump in. Btw, good to have you around, not because you support me, but to do some good work around i3.