no more flash crash. my uncle already give green light, he will push up the price back to 1.70 above. haha haha haha. 2 billions unbill sale, profit guaranteed for next few years. damn good!
@lukesharewalker I think you must be kicking yourself now for selling too early and I really cannot tell if you actually mean what you said above about the 7c EPS dilution or if you're just trying to pull a spygame007 and lie to the people on this forum. Either way, not cool.
Come, let me clear some doubts here. I have not looked into the numbers in detail because there is a lot to go through but this is what I understand so far.
3 property injections - Modular, Ideal Homes, Premium Flame (all 100% ownership by Ideal once acquisition completed). When you buy the asset - you get 3 things : assets (including retained earnings) + debts + any future profit. Let's take a look at each asset to be injected.
Modular
Assets - 103.4 million Debt - 129 K Future Profits - 162 million Price - 202 million Net Shareholder Gain : 63.1 million
Ideal Homes
Assets - 52.7 million Debt - 204 K Future Profits - 222 million Price - 117.9 million Net Shareholder Gain : 156.8 million
Premium Flame
Assets - 4.8 million Debt - 0 Future Profits - 92.7 million Price - 33.2 million Net Shareholder Gain : 64.3 million
Assets + Future Profits - 637.3 million Price Paid - 353 million Total Shareholder Gain from injections - 284.2 million
ARE YOU ALL F**KING CRAZY TO SAY YOU ARE LOSING OUT??? Major shareholder who gets the new shares ofc gain the most but ikan bilis like us really cannot complain when we are not even expected to contribute. You all must also remember that the only profit Data Alex gets from doing all this is the appreciation in his own shares since he did not take any cash out of the company for the asset injection.
Yes, EPS will be diluted for minority shareholders like you and I (I will need to calculate this further when I'm back from work) but at the end of the day, which company is going to give you all this free money (284.2 million over 3 years) and expect 0 in return? And from my rough calculations, the dilutions won't be much (2-3c) per share assuming maximum takeup rate and minimum expenditure on SGA to push the remaining unsold units.
And @lukesharewalker, I think it's very bad for you say EPS is 7c. You just bulat2 lifted the figures from the document but what you never mentioned is that those figure was EPS for FY2017. It is also very clear that they only used that as an example. The profits from the new developments in all 3 subsidiaries that started this year were NOT even included. Don't lie to people here or I promise you I will call you our on it.
Luckily I put my money where my mouth is and topped up yesterday yesterday under 1.18 after that big 50k buy transaction in the afternoon. Then someone came and bought 150k in one go just before closing. If anything, that was confirmation that the stock is still deeply undervalued. Very clear already I think. If you still don't buy, don't complain later. Choice is yours.
@apolloang because I am not spygame007 and I didn't actually buy so low. But if you didn't buy after yesterday's announcement, I think there's something very wrong with you. Anyways, enough of me talking. I'll let the share price do the talking ok? :)
Sorry , I'm go through the announcement but got something not so understand.. besides new share issue to get this 3 company from the boss , there is another private placement right ? That private placement not yet get buyer and decide the price yet is it ?
Correct. Just make sure you buy ok? Got 3 flash crash already. Don't just keep looking at Ken and then come here and complain "bursa semua tipu" when you missed the boat lol all those who bought at 1.05 all now laughing to the bank ;)
same like yongtai.....that day people dump at new low,those who collected just push up.ideal and yongtai both property can up,i tot property stocks down? all excuse only.pump and dump market only this bursa
@Keith from what I understand, the private placement is not guaranteed (hence why you cannot include this figure when you calculate EPS unless you know for sure it's going to happen) and is only being done to reduce Alex Ooi's shareholding spread from 90% down to 75%. They also did mention if they cannot find any investor, he'll just dispose his shares to interested parties (whether its in the market or off-market). And since Ideal never really like to deal with the public, there's a very good chance the shares will go to a company insider. Just my 2 cents. We'll have to see.
One thing for sure is that the upcoming QR is going to be good (at least 15 million) but whether it hits 20 million as spygame has said idk.
u see all control one.....almost 1 hour no done anything.it's up to them to push it up or down.if retailers now buy they push it down.same goes to all the stocks in bursa.all manipulation
Pg 5 (collectively, the “Imperial Grande Project”) The total estimated Gross Development Value (“GDV”) of the Imperial Grande Project is RM499.8 million with a Gross Development Cost (“GDC”) estimated at RM337.8 million and an estimated gross development profit of RM162.0 million. As at 31 August 2018, being the date of valuation of the Modular Land, the project is at 10% completion.
Pg 7 (collectively, the “Amarene and Mori Project”) The total estimated GDV of the Amarene and Mori Project is RM665.4 million with a GDC estimated at RM443.4 million and an estimated gross development profit of RM222.0 million. As at 31 August 2018, being the date of valuation of the Ideal Homes Land, the Amarene and Mori Project is at 10% completion.
Pg 8 (collectively, the “Imperial Ville Project”) The total estimated GDV of the Imperial Ville Project is RM246.5 million with a GDC estimated at RM153.8 million and an estimated gross development profit of RM92.7 million. As at 31 August 2018, being the date of valuation of the Premium Flame Land, the project is at 18% completion.
Clear enough for you? Very obvious you didn't even read the circular properly. Go do your homework first, then come talk to me.
if big boss didn't inject new assets into Ideal, current ongoing projects only can give sustained profit for another 2-3 quarters, this proposal is definitely a win-win situation for all
Ever thought the property market is in a slowdown? Estimate profits if the whole project get sold. Very common now project is completely without fully sold. Very optimistic outlook. They might stop after phase 1. Beside, how come the private placement is at 1.02 only?
Repost my comment with some correction on the figures. Finished reading the proposals and here are my views 1. Still not feeling happy with the price manipulation in past few weeks 2. Project injection lowers eps but it's acceptable to keep business going. Current eps per quarter is 13.7 cents. Post acquisition eps: 9.43 cents. 3. The private placement heavily dilutes eps Post private placement eps: 5.1 cents. 4. Risk: there is no indication of current sales of those injected projects. 5. I think the private placement is likely to go through other wise what is the point of proposing
One months ago IDEAL was a gem with strong FA. At this moment, I feel like it turned into goreng counter.
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spygame007
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Posted by spygame007 > 2018-10-15 17:49 | Report Abuse
pls go read announcement la. profit guarantees already stated well in the announcement. damn spend some time to read lah. haha haha