Posted by impartiality > 2014-11-25 11:04 | Report Abuse

A very shocking set of results indeed. Where is the person who claimed that this quarter's results will be good. It is worse than expected

Posted by Hustle > 2014-11-26 08:38 | Report Abuse

I think they just sell 1 apartment unit within the whole quarter...turmoil...turmoil...

Posted by impartiality > 2014-11-26 10:48 | Report Abuse

I can confirm that dato has a share margin account and has pledged his shares as collateral. I do not know which price can trigger margin call which may force the broker to liquidate his shares on the open market. I am a bit worried about that

Posted by Canon Preview > 2014-11-28 13:12 | Report Abuse

...these counter is droping trend..

Posted by impartiality > 2014-12-01 10:38 | Report Abuse

market cap very close to the 200 mil threshold. Many buy side funds are not allowed to keep stocks with a market cap below 200 mil. The existing funds if any may liquidate

Posted by steveooikp > 2014-12-06 12:09 | Report Abuse

impartiality everyday in this thread.... I think he aldy bought the shares according to his view points... no more complaining..

Posted by impartiality > 2014-12-09 12:07 | Report Abuse

haha I am not buying even at this price. I wont even buy at 30sen.

Posted by taka > 2014-12-09 12:08 | Report Abuse

What price would you buy ? Or which stocks would you recommend to buy?

Posted by impartiality > 2014-12-09 15:56 | Report Abuse

not at any price. The share price keeps hitting new record low and is fast becoming a penny stock Anyway, no physcial work no nothing has commenced on Penang World City site despite claiming good sales for two years already

Posted by beso > 2014-12-09 16:00 | Report Abuse

only to consider if hit 0.25

Posted by impartiality > 2014-12-09 21:58 | Report Abuse

Yes when that happens it will just be a goreng up and down penny stock without any regards to fundamentals no different to playing roulette

Posted by impartiality > 2014-12-29 10:42 | Report Abuse

Haha a kids carnival is a much more appropriate place for this type of childish rant. These rantings may get you a place in the desperate housewives show at best and public ridicule at worst. You better sort out your english before doing anything else. You will be lucky not to see 20 sen before middle of next year

Posted by impartiality > 2014-12-30 10:35 | Report Abuse

since when does a boss say negative things about his own company?

Posted by kentlim > 2015-01-07 11:05 | Report Abuse

simon333, ivory don't have any strong point to support its shares. By the way, it might be a good share for long term.. Enjoy, have fun.

Posted by impartiality > 2015-01-09 09:59 | Report Abuse

Not only does Ivory has no strong point to support its shares, it has no point at all to support it

Posted by vinvin > 2015-01-12 21:25 | Report Abuse

impartiality, u r still at this forum................very sincere to Ivory!!! Hope u can help it to recover!

Posted by Icon8888 > 2015-01-12 21:27 | Report Abuse

Ha ha

Posted by vinvin > 2015-01-12 21:30 | Report Abuse

I'm still thinking whether to go into this counter or not..................? Trade at own risk

Posted by impartiality > 2015-01-13 14:22 | Report Abuse

I have my pride. i wont do any IR for Ivory even if I am paid 1 million. Taking the money and making a complete mockery for yourself is not worth it. Any IR firms that work for them risk ridicule

Posted by vinvin > 2015-01-13 15:01 | Report Abuse

Since u r so much against this counter, I would rather leave this counter alone. Thanks anyway. Trade at own risk.

Posted by rlch > 2015-01-14 20:45 | Report Abuse

Ivory Properties sells Jesselton land for RM150 million
http://www.theedgemarkets.com/my/article/ivory-properties-sells-jesselton-land-rm150-million

Posted by rlch > 2015-01-14 21:14 | Report Abuse

impartiality, is it doing IR job can get paid so much. Can you recommend me?

Posted by impartiality > 2015-01-15 09:37 | Report Abuse

Errr I can recommend a few , Esente, Imej Jiwa. These firms probably wont even take Ivory on board as they dont want to risk their reputation. However, the conditions precedent for this deal is almost impossible to fulfill. The land apparently has no access and has an ongoing lawsuit. What to do? Ivory needs cash desperately

Posted by Faiz Mokhtar > 2015-01-15 17:07 | Report Abuse

lol. jual tanah pun xboleh up? mati pucuk ka?

Posted by rlch > 2015-01-15 22:44 | Report Abuse

Ivory management good also lah. No income from the land so sell, make profit and reduce borrowing. Best is Ivory can declare their first ever dividend. NTA will rise to 97sen after the land sale. So now selling at less than half their NTA Ivory is very cheap.

Posted by christ1234 > 2015-01-15 22:46 | Report Abuse

I own property built by Ivory - Worst developer I have ever encountered, look at car park at penang times sq, bocor sana bocor sini. Car park is one of the most challenging car park in the world, even close down car park. Tenancy rate in their second phase is 0% after 2 yrs, amazing

Posted by christ1234 > 2015-01-15 22:48 | Report Abuse

Their CEO Low - not serious in property business. Gold land in central Penang can developed into shit. Co-owner of Soju night club, CEO of listed company.

Posted by rlch > 2015-01-15 22:48 | Report Abuse

Cold Eye one of the respected stock sifus mentioned in i3 has bought Ivory before. Will he buy again now that price is even cheaper?

Posted by christ1234 > 2015-01-15 22:48 | Report Abuse

Their 3rd phase the wave - already > 2 yrs after collecting deposit. Still silent and no development, other project which is slower already near completion.

Posted by christ1234 > 2015-01-15 22:49 | Report Abuse

I am not surprise it traded at 45c today.

Posted by christ1234 > 2015-01-15 22:51 | Report Abuse

Quality and sound management - buy when cheap is smart. If a company management is worst than shit, i wont buy even it traded at 10c. Go and ustand Ivory first before makes ur move. Why Ecoworld, Mahsing, IJMland successful, because the management are serious in property business.

Posted by christ1234 > 2015-01-15 22:53 | Report Abuse

http://www.therakyatpost.com/news/2015/01/13/video-mp-creating-scene-rm10-parking-fee-making-rounds-net/

Video of MP creating scene over RM10 parking fee making its rounds on the Net

When a mall increase car park fare from RM5 to RM10, management is Ivory, what does this mean.. Look at parking rate at 1U and Midvalley and around the world.

Where on earth a property co needs to rely on parking fee to survive, a listed co.

Posted by tjhldg > 2015-01-15 22:56 | Report Abuse

kikikikiii

Posted by christ1234 > 2015-01-15 22:58 | Report Abuse

impartiality - I agree your points on Ivory. I own a property there and cannot dispose, no liquidity. Bocor sini Bocor sana. At night very noisy,because of night club run by the CEO. Not managing his core business seriously, but open night club. He is always there too until late midnight, and you can see his car in the early Morning.

Posted by christ1234 > 2015-01-15 22:59 | Report Abuse

Can you trust this kind of company if you are a buyer or long term investors ? I will feel shame if this share is in my portfolio, to be associated with such a shameful corporation. I have my pride.

Posted by christ1234 > 2015-01-15 23:02 | Report Abuse

Your CEO spent most of his time here > business. I am not surprise he disposed off land.

http://www.soju.com.my/

Posted by christ1234 > 2015-01-15 23:03 | Report Abuse

Birch House - Ivory HQ can be tolerated and moved out just to lease to Mcdonalds. What a shame, small sum of rental is valuable to them.

Posted by christ1234 > 2015-01-15 23:16 | Report Abuse

Market Cap RM 203mio
Loan and borrowings RM 320mio - Less Cash RM 33mio = RM 287mio

Even the co is sold at last done price, still deficit RM100mio to cover the loan.

What a pity... Shameful Corporation, and unethical businessman. Built inferior quality property, this kind of developer should be punished.

Posted by christ1234 > 2015-01-15 23:20 | Report Abuse

80% Soju Entertainment Sdn Bhd (959742-T)
Operation of entertainment, food and beverage outlets

Using shareholders money to run night clubs with Triads. Banyak Samseng.

Posted by rlch > 2015-01-15 23:31 | Report Abuse

christ1234, all the good property companies you mentioned does not come cheap for investors to make money. 21.78 hectares sold for RM150 million. Imagine if Ivory just sell only empty land they possess how much money they will earn. My simple calculation is they can clear all their debts with cash to spare. Of course they won't sell all because it is more profitable to develop than just sell empty land.

Posted by christ1234 > 2015-01-16 00:58 | Report Abuse

rich, good luck to u. salute your critical reasoning. I salute impartiality on his view.

Posted by impartiality > 2015-01-16 11:45 | Report Abuse

Mr rich did u read the conditons precedent of the disposal . They are almost impossible to fulfill . The fact that there is an resolved legal despite against that land speaks volumes about management quality and there is no access unless state gov acquires a certain part. Please note that the disposal will not proceed if the above two are not met

Posted by penangboleh > 2015-01-16 11:56 | Report Abuse

this company is in shit position now, after the previous COO left they cant manage their projects and no new launches the CEO is a party maniac who never bother about the company mgmt. and operations. can you imagine this is the only company listed in bursa has only 2 ED include the CEO himself? the senior mgmt. is also lousy and no experience at all. the indian guy (previous COO) who left ivory and set up aspen group is so successful now with 3 projects in island and another big project with ikea in batu kawan, and his company is so famous and most promising developer in penang now. this guy build his empire in 2 years he left ivory and his aspen now is very famous in penang and ivory CEO continue building soju everywhere and hirer GRO to entertain him in his clubs. go and ask around ivory cant pay contractor for more than 40m in construction cost and all the contractor is threatening to pull out and stop work

Posted by penangboleh > 2015-01-16 11:59 | Report Abuse

I think impartiality has the most knowledge in about this company.. I totally agree with impartiality better stay out until the ceo resign or ceased to be the major shareholder

Posted by rlch > 2015-01-16 12:06 | Report Abuse

Problematic shares always come with cheap price. You don't see good property company selling at Ivory price. Why not ask Low Eng Hock to sell Ivory? Sure there are many takers.

Posted by penangboleh > 2015-01-16 12:19 | Report Abuse

no CFO also! how to run public company with this kind of mgmt. and ceo?

Posted by impartiality > 2015-01-16 12:50 | Report Abuse

Unless low eng hock leaves the company it's almost impossible to turn it around but it may also be too late by then . Mr rich who wants to buy a company with such high debts amd unclear land ownership . Ivory biggest land bank by far penang world city may have been seized by tropicana Bhd. Ivory is an empty bloated shell without that . As for that disposal the longer it waits the more likely it will collapse . They have no choice but to wait anyway because there is an ongoing lawsuit .Land value is going down and the disposal will suffer the same fate as the Rhb Cimb merger for exactly the same reasons

Posted by christ1234 > 2015-01-19 22:11 | Report Abuse

Ivory is a synonym to toilet paper.

Posted by rlch > 2015-01-19 22:30 | Report Abuse

impartiality, I thought Ivory still own 49% stake in Penang World City. The project is a bit slow so can't see any sales booked yet despite RM10 billion GDV. Recently I read they are going to have mini Korean town in Penang Times Square. Can this help rejuvenate Times Square?

Posted by impartiality > 2015-01-20 08:48 | Report Abuse

Times Square reputation is already bad enough and richer shoppers will never go there. The mall thrives as a gangster haven with two huge night clubs . The mini korean town will never attract the correct demographics. Ivory is now a minority shareholder in Penang World city which means that the land title may not be even in their name. You can quote whatever GDV you want and please remember that they are many developers that failed to sell even half their units. You cannot simply assume that all developers can sell all units at the price they want. Property market is slowing down and even reputable ones like Mah Sing and Ecoworld have to raise additional capital. Ivory will have to as well but it will face significant headwinds in doing that