Posted by impartiality > 2013-04-08 18:52 | Report Abuse

Lee Tai who on earth will beleive you when you have the audacity to claim that Penang Times Square is fully sold. You lack even the most basic lesson in how to lie. Half the retail lots are not even open. I am sure photographs can be posted somewhere. Even a 10 year old will not believe such a white lie. It is a white elephant and will continue to be. In fact , it is the first new mall in Penang that flopped. There are malls in disrepair in Penang such as one stop but it only reached such a state after a few years. Penang Times Square is the only mall in Msia that I know of that opened half empty without any excitement. It is unsual or almost unheard of for a new mall to open half empty in such a central location. Kudos to the management for that

Posted by MrDiscord > 2013-04-09 09:05 | Report Abuse

Sold does not mean the purchasers will set up shop. There are investors who wants a quick flip, which obviously didn't happen. Learn that. Your general knowledge is somewhat lacking. No offence, but I'm sure you'll take that personally anyway.

Posted by impartiality > 2013-04-09 09:28 |

Post removed.Why?

Posted by 1901 > 2013-04-09 09:41 | Report Abuse

noise...noise, does it matter? as long as the counter is trending up, join the party lah

Posted by caven101 > 2013-04-09 09:42 | Report Abuse

impartiality so mean this counter is unsafe rite? cause the project consider fail rite...but why keep on flying?

Posted by impartiality > 2013-04-09 09:57 |

Post removed.Why?

Posted by 2862862 > 2013-04-09 16:18 | Report Abuse

Monday, 8 Apr 2013

6:05PM Dato' Low Eng Hock (8,910,000 Shares Acquired)

Posted by lmf_hau > 2013-04-09 17:32 | Report Abuse

Nan Yang Press

冷眼42心水股系列10：辉德多元没负债

分享锦集财经评论 2013-04-08 10:32

很少人注意到，辉德多元（Fitters,9318，主板贸服股）是一家没有负债的公司。

其实，在去年9月杪，该公司仍有3500多万的净债额（债务减现金），但在3个月后，即去年12月31日结账时不但没有负债，手头还有超过700万净现金（现金减负责），成为一家无债公司。

原来辉德多元大股东拿督黄瑞意夫妇，在该公司凭单于去年杪到期前，以53仙的转换价，全部转为普通股。

积极扩展多元化业务

这其实是以每股53仙的价格发附加股，注资于该公司。

这使该公司的实收资本，由2012年9月30日时的1亿1086万令吉，增至12月31日的1亿5593万令吉，使该公司成为无债公司。

在过去几个月中，辉德多元大股东持续不断的从股市回购该公司的股票，买价在55仙至60仙之间，我认为这是大股东对该公司前途信心满满的表现。

辉德过去以制造灭火具为主，但近年来极积多元化业务至产业、建筑、再生能源，有不错的业绩表现。

去年辉德多元每股净赚12.43仙，今年在文良港兴建的288间公寓开始对盈利作出贡献，今年盈利可望胜过去年。
_____________________________________________________________

Daya 达雅集团大事扩展 对油气业雄心勃勃

原本经营塑料，但达雅集团（Daya，0091，主板贸服股）近年来大事扩展至建筑和油气业，对油气业更是雄心勃勃。

该公司放话，要在2015年将每年营业量，由目前的2亿8000万令吉，推高至10亿令吉，（该公司主席在2011年年报中这样宣示）。这是一项挑战。

读者不防将达雅视为油气股来考量。
_____________________________________________________________

Ivory 玮力产业集团 重点发展槟城世界城

玮力产业集团（Ivory，5175，主板产业股）的重点发展计划，是拥有45%股权的槟城世界城（Penang World City）。

这项计划与成隆机构（Dijacor，5407，主板产业股）联手，以每方尺240令吉，向州政府标得靠近槟城第二大桥的1026英亩空地而展开的。

槟城世界城估计费时15年发展，预算总销售额高达98亿令吉。

作为总建筑承包商，玮力产业集团将分得总值的48%，剩下的52%，成隆可得55%，玮力得45%。

所以实际上，玮力产业集团是分得71.4%，但需负责建筑。

根据拉昔胡申证券的3月19日发表的一份研究报告，槟城世界城首期兴建4座共管式公寓，共907个单位，销售价值约6亿1000万令吉。

有关单位虽未正式发售，实际上已预先售出约70%，每方尺售价由678至834令吉不等。正式发售时间订在今年6月。

（明日待续）

冷眼

http://www.nanyang.com/node/523389?tid=462

Posted by impartiality > 2013-04-10 09:38 | Report Abuse

Haha. They dont even have a controlling stake in World City. 45% voting rights and still want to boast. Come on. They dont even have control over the project. Dijaya is basically the major decision holder of the project and they will decide how much revenue will be recognized. The company was full of promised when they won the tender for World city. They may have 51% percent share in the JV but now Nanyang is saying that they have only 45% VOTING RIGHTS for the project. What happened. Please not that equity ownership and voting rights are two different things. It is possible for someone to have more voting rights than the percentage of shares they own. For example, Mark Zuckerberg in Facebook has more than 50% voting righs despite only owning 30% of shares

Posted by yewkhian > 2013-04-10 10:36 | Report Abuse

Impartiality, relax, don't take it personal who wan buy then buy, who wan sell then sell. Buy at own risk, appreciated ur hard work :)

Posted by impartiality > 2013-04-11 10:50 | Report Abuse

Those that want to comment are more tham entitled to comment as well

Posted by kcchongnz > 2013-04-11 10:55 | Report Abuse

impartiality, what do you think what Cold Eye sees which we don't see in Ivory. He is still saying good things about Ivory; un-billed sale lah, Bayan Mutiara lah.

Posted by impartiality > 2013-04-11 15:18 | Report Abuse

Kchongnz, Coldeye privately admitted that he lost money in Ivory to someone I know. Well Nanyang confirmed my concerns that Ivory have ceded control to Dijaya on the Bayan Mutiara project. 45% voting share mean that Dijaya is in control. Questions are being raised on why due dilligence was not done by the state govt before awarding them the project. Chances are that Ivory may lose bayan mutiara entirely if their cashflow does not improve.

Posted by lmf_hau > 2013-04-11 15:28 | Report Abuse

impartiality,

pls read the contents of the JV contract ,

1st understanding , Ivory 51% vs 49% Dijarco , if use outsider contractor.

2nd revised , Ivory 48% vs 52% Dijarco , if use "IVORY as Contractor" ...

can u see it meaining in between ???

which is to said , Ivory will earn more from cost of development , despite of Great Giant Sales Project Value ....

Posted by impartiality > 2013-04-11 15:44 | Report Abuse

lmf_hau. Equity ownership and voting rights are TWO DIFFERENT issue. I do not dispute that Ivory has 51% in equity but they own a different class of shares that give them only 45% voting rights. Read the Nanyang article carefully. 45% voting righs( 股权）for Ivory only. It is not uncommon for someone to own more than 50% of a company but has less than 50% voting rights. Venture capitalists normally demand higher voting righs. Some venture capitalists invest 30% equity and demand 51% voting righs. It has happened before. What really matters is how much voting rights a party has. Ivory in this case may own 51% of equity but Dijaya will be calling the shots in major decisions since Dijaya has 55% voting rights.

Posted by yewkhian > 2013-04-11 16:24 | Report Abuse

I think both make sense anyhow the important is its price keep going up ! That's the Mian points :)

Posted by dingding > 2013-04-25 11:56 | Report Abuse

so good to enter now?

Posted by chia88 > 2013-04-26 21:33 | Report Abuse

0.80 any time sooner. Dato is buying up the share.

Posted by Jeff Lim > 2013-04-26 22:53 | Report Abuse

At current price 0.56 to 0.60 is the best time to buy n keep

Posted by chia88 > 2013-04-27 09:39 | Report Abuse

The chart indicates buy signal. Dato Low is quietly buying the stock, good for long term investment for small cap co, profit increased every qtly.

Posted by Lawrence Lai > 2013-04-27 10:23 | Report Abuse

heard there is a new project for ivory in penang, can anyone confirm it?

Posted by chia88 > 2013-04-27 12:50 | Report Abuse

Also planning to build mixed development at 2nd bridge crossing, that is hot spot when they bot the cheap land 3 years ago and now their land is gold. Stock price could be higher or par with Tambun. Dato Low is a smart person.

Posted by Lawrence Lai > 2013-04-27 18:06 | Report Abuse

chia88, million thanks for that info! will be accumulating some more ivory :)

Posted by chia88 > 2013-04-27 19:21 | Report Abuse

LL - I only bot 22,2000 shares.

Posted by Lawrence Lai > 2013-04-27 22:26 | Report Abuse

Chia88 - i have 40K shares.. but my entry was 0.595 :(

Posted by skyland > 2013-04-27 23:12 | Report Abuse

chua...ivory will pay the land cost to state gomen stages (if not mistaken 5 instalment for 5 years)...no worry on the payment...& the land was deal at RM240/ft...consider fair price & fore see a good deal

Posted by Lawrence Lai > 2013-04-27 23:20 | Report Abuse

it's a hot spot development, it's gonna make money. I'm not there is no problem of obtaining a financing.

Posted by skyland > 2013-04-27 23:42 | Report Abuse

No issue on land financing...now the issue is DAP must maintaince the state gomen...this is the reason project was prelaunch without any advertisement before GE13 due to sensitive on political issue but 90% was sold on 2 block launch...june2013 will kick start on building & big launching

Posted by chia88 > 2013-04-28 11:36 | Report Abuse

Cold eye commented that I is a safe stock to buy, buy when is low, keep for a year as long NTA is 0.80 (Re-value 0.95. I call it a small cap stock but managed very well.They maintain a cash position of 29mil.

Posted by Ken Loo > 2013-04-28 12:18 | Report Abuse

if keep for year, why dont look at other better choice, such as tambun ? the 2nd penang bridge sure will boost this stock very soon.

Posted by chia88 > 2013-04-28 12:24 | Report Abuse

I sold 30 lots Tambun last week and move to this cheap Ivory. Guocoland / EUPE / Farlim are worth looking at it.

Posted by Jeff Lim > 2013-04-28 23:09 | Report Abuse

For Penang property stock Tambun n Ivory are best 2 to buy n keep....

Posted by fishbone > 2013-04-28 23:46 | Report Abuse

huayang is one of the best property stocks

Posted by chia88 > 2013-04-29 08:22 | Report Abuse

Huayang / Tambun - Agreed, are you buying today? We follow.

Posted by huayang > 2013-04-29 08:24 | Report Abuse

i will keep Huayang long long term until FA turn bad.
Today will look into G..... see first

Posted by chia88 > 2013-04-29 09:36 | Report Abuse

Huayang is on high side to buy, too many want to sell, too little ppl gonna buy. The trend is hard to catch.

Posted by vinvin > 2013-04-29 10:22 | Report Abuse

I just bought Ivory @ 0.58 n hope it will go up.

Posted by chia88 > 2013-04-29 10:41 | Report Abuse

No pusher today Vinvin.

Posted by vinvin > 2013-04-29 16:59 | Report Abuse

Weak closing. Bought @ 0.58 n 0.57 already lost money. Any hope chia88?

Posted by fishbone > 2013-04-29 20:45 | Report Abuse

Election sentiment overrides company financial results now

Posted by Jeff Lim > 2013-04-30 00:26 | Report Abuse

Chia88, very simple as I mention b4, I will collect the share when no news out. I will sell the share when good news out. After force selling over I will collect back the share n keep for another push up. In this few days is the best time to buy back Tambun due to election sentiment. Smart trading rule, when all people strong sell when must kan kan buy. Then the changes to win should be very high......

Posted by Jeff Lim > 2013-04-30 00:31 | Report Abuse

Smart trader always see opportunity from crisis while panic investor always lose in crisis....

Posted by vinvin > 2013-04-30 08:57 | Report Abuse

Financial year ended 31/12/2012 the group made more than 32 millions profit. Am I right?

Posted by kcchongnz > 2013-04-30 09:15 | Report Abuse

In the stock market, if you know just a little bit and go and punt a penny stock, it is very very dangerous. Knowing how to read and interpret financial statements is very important to invest in the business of a company.

Posted by vinvin > 2013-04-30 09:37 | Report Abuse

Tq kcchongnz for ur concern. For what I see a 204 millions company which has been making profit n has accumulated a positive balance (profit) of about 131 millions looks good enough.

Posted by sephiroth > 2013-04-30 09:59 | Report Abuse

in Q212 rpt, The increase in profit before tax was mainly due to the recognition of fair value gain and negative goodwill amounting to approximately RM36.6 million arising from the acquisition of IVSB.

Therefore it is not CASH profit

Posted by iafx > 2013-04-30 15:55 | Report Abuse

good case study, despite all the "undervalue" stories, formula here and there, the portfolio perform -34%, while the index +7.39 as v speak :D

Posted by kcchongnz > 2013-04-30 15:56 | Report Abuse

vinvin, go read the posting of somebody by the name of impartialty in this thread. I don't know what is his motive of his postings, but my opinion is he provided the best insight about Ivory. If you are interested, also read my analysis of its financial statements in this thread which I expressed great concern about its financial shenanigans. Of course also read others who have positive views about this stock, including Cold Eye. Then analyze yourself; go look at their projects if you are in Penang. Then you would be able to make an informed decision.

If people go "chiak sai", don't follow them.

Posted by iafx > 2013-04-30 16:01 | Report Abuse

yupe, juz like this "undervalue" baby: http://www.bursamalaysia.com/market/listed-companies/company-announcements/1271605

memang "chiak sai"!! hahahaaa... value methodology tends to fall into trap like this

Posted by vinvin > 2013-05-01 08:16 | Report Abuse

Hi kcchongnz, can u give ur opinion on this counter DVM? Tq.