Posted by alphajack > 2014-09-11 22:22 | Report Abuse

anytime can goring la..big fellas should buy when this is a legit and safe investment. Good place to park unused cash. 1.50-1.55 lai la should be no problem rebounding

Posted by Crecimiento > 2014-09-12 10:55 | Report Abuse

Hi, methodmann

As I said, if you are not comfortable then you can just take profit and move on. Or if you have time, you can take a look on how carsales.com make money from the same biz model in Australia. For those who doubt the biz model, highly advised to do so. I always believe great investors hold their belief strongly, even though share price does not react to their expectation. There are many reasons for share price movement. Sometime it can be good, sometime it can be bad. One must think logically. You can check out my latest article in i3 today, which I explain why sometime market does not react up to your expectation, but it may not imply your investment thesis is wrong. Short term share price fluctuation is all about supply and demand for that day (means ppl have profit to take instead of bad outlook)

Posted by CleverBoy > 2014-09-12 11:52 | Report Abuse

Thanks Crecimiento and all, noted all your points. One thing is I have to say. Correct me if need be. The disposal price of the Icar shares is based on A$1.40 over something. The High for Icar this year is A$1.88. So what we are all calculating on is based on assumptions. WE have to wait for the actual price Rev gets on disposal of those shares. If appetite for such online business remains and price of Icar improves, then prices would be higher. Of course if economics and geopolitical concerns causes problems, it will be a risk for all of us. I would like to be on positive side for this one. But who really knows. Perhaps bias should be positive. We will all get distributions after shares are sold. If not sell the shares before x date of the said distributions.
If cannot hold and you are sitting on profits, make a decision. Or else we wait it out!!
Thanks for hearing me out. Correct me if need be.

Posted by methodmann > 2014-09-12 11:55 | Report Abuse

Thanks sifu Crecimiento,

1. Done further studies. Wah lau eh, icar and iproperty is so much expensive than carsales, REA (property portal like iproperty), SEEK (job portal that buy jobstreet), facebook and google. carsales, REA and SEEK are the champions of online classified in Australia.

icar: Price/sales is 106.4
carsales.com: Price/sales is 10.8
iproperty: Price/sales is 26.2
REA: Price/sales is 15.8
SEEK: Price/sales is 6.2
facebook: Price/sales is 19.9
google: Price/sales is 6.1


icar: PE is zero
carsales.com: PE is 26.7
iproperty: PE is zero
REA: PE is 47.2
SEEK: PE is 13.3
facebook: PE is 84
google: PE is 30.5


Sifu crecimento, I think icar and iproperty is too high value. Scare that something is not right lah.


2. Also I check carsales.com information. They have cash of only AUD26million and receivable of AUD34million. The rest of assets are goodwill, investment and intangible asset. Their longterm debt is AUD165million. Short term debt is AUD10million, payables is AUD6million and other short term liabilities is AUD20million. I am not accountant but the way i see is that carsales.com might not have the firepower to buy the 27% icar from Rev Asia. The 27% icar is 52million share x AUD1.54 = AUD80million. How sifu?


3. I also dont understand why REA can make money but iproperty still losing money even after listed for 7 years already. If I remember correctly, people like jobstreet already making money when they list and continue to make money until today. I scare icar is like iproperty, after 7 years still cannot make money.


I think if Rev Asia can go to 1.50, i will cabut. Make money ok already, don't want to be greedy.

Posted by methodmann > 2014-09-12 11:58 | Report Abuse

sorry for forget one more thing to ask sifu crecimento. If carsales.com buy all the 27% icar, they must make general offer to buy all the rest, right? They where got enough money! This is why I scare the deal might not be easy to happen.

Posted by CleverBoy > 2014-09-12 12:13 | Report Abuse

Todays announcement on ICAR, 70.5 million shares released from escrow. How will that affect Icar's share price and Rev will have to be seen??!!

Posted by CleverBoy > 2014-09-12 12:20 | Report Abuse

Please read the following,http://www.fool.com.au/2014/03/10/2-discounted-stocks-with-massive-growth-potential/?source=aptyholnk3030003

Posted by Crecimiento > 2014-09-12 13:29 | Report Abuse

Hahaha, methodmann. Perhaps u really need to take profit now in exchange of a good sleep over the weekend. U seem to be very contradicting to your very first reason of buying rev prior to the announcement. U said u bought rev becos u got a discounted price to enter iCar which u see tremendous growth potential in future. If u still remember this was the thesis for ur investment decision, u shouldn't be too worry about all the accusations on iCar. And the reason y iCar is so expensive compared to peers is simply bcos it is still immature in a young market (ASEAN) as compared to HK, Australia and others. This is a result of low base. What do u think carsales.com bought iCar at such an expensive valuation for? Every corporate decision has to make biz sense, and most importantly, this is non related party which implies fair market value from the eyes of successful industry leader. The accusations in the blog on Catcha group's rpt, u shouldn't take it as core transactions. The value of an immature internet biz is still pretty much its market share and user base growth. Lastly, I believe it is possible for Carsales.com to launch a go for iCar if they buy the 27% stake. As I mentioned earlier, losses in iCar is inevitable but not meaningful to Carsales.com (about 10% of its profit).

Posted by CleverBoy > 2014-09-12 14:28 | Report Abuse

Thanks Crecimiento. By the way anything else on your radar at the moment to share with us so that we can join you on the bandwagon??

Posted by methodmann > 2014-09-12 15:31 | Report Abuse

Thanks Crecimiento. You are right, I think i better sell because i cannot take it. Waiting for 1.50 hehe.

Like I say before, I buy without doing any studies. Remisier told me the company owns another hot company in Australia. The holding company is undervalue because the Australian company is worth much much more than the holding company. So I buy lah because remisier said got analyst reports said big undervalue. But now after doing my own studies, I only know iCar's valuation is so so high like a bit abnormal compare to others (10 times more expensive that the taikor carsales.com). I think icar got potential but the price is very scary liao. Scare got bubble, that's why I change my mind lah. Better to cabut.

Carsales.com dont have alot of money to buy 27% icar. Like i ask before if carsales.com buy the 27%, it will own 49%. carsales.com have to offer to buy the other 51% right? I assume out of this 51%, 15% want to sell to carsales.com meaning carsales.com have to buy 27% + 15% = 42%. At AUD1.30, the market cap is AUD251million. 42% of AUD251million is AUD105million! If it is not 15% but 30%, carsales.com will sai lang liao. Dont think carsales.com want to buy right now. If I shareholder of carsales.com, I will ask why you buy other people with that kind of valuation which is so much higher than you (and some more no profit).

Posted by JT Yeo > 2014-09-12 22:05 | Report Abuse

How did you get the assumption that iCar will be the one to swallow up part of the disposal but not some other parties?

Posted by Crecimiento > 2014-09-13 17:09 | Report Abuse

Hi, cleverboy. I just published my second article talking about Sona. I think market is over pessimistic at current price. You can check out my article in my blog.

Posted by sarawakian > 2014-09-14 14:52 | Report Abuse

@Crecimiento what's ur blog address? kindly share

Posted by Crecimiento > 2014-09-14 21:56 | Report Abuse

http://klse.i3investor.com/blogs/sonapetroleum/59850.jsp

Posted by damagpie > 2014-09-14 23:24 | Report Abuse

Theedge weekly has a writeup on the disposal as well. RM1.41 per share to be distributed on disposal. Is this possible??

Posted by CleverBoy > 2014-09-16 01:24 | Report Abuse

Hi damagpie, can you send the link on theedge weekly article! Thank you.

Posted by bravoUp > 2014-09-16 02:01 | Report Abuse

Last time linit up 1.39..... now 1.33 no takers.

Posted by 860000 > 2014-09-16 16:28 | Report Abuse

http://cdn1.i3investor.com/my/files/dfgs88n/2014/09/09/1481145955-11581345.pdf

Posted by damagpie > 2014-09-16 21:16 | Report Abuse

Cleverboy - i read it in the physical paper so no link. I dont think they put the article online.

Posted by kk123 > 2014-09-16 22:01 | Report Abuse

What goes up must come down .. No need to chase any shares unless it's a super share

Posted by 860000 > 2014-09-17 11:36 | Report Abuse

http://static.squarespace.com/static/51348a0ce4b066ad5330c04d/t/5413dd3de4b0f3ffdd71912d/1410587965216/Putting%20value%20on%20REV.pdf

Posted by JT Yeo > 2014-09-17 15:06 | Report Abuse

thanks for the article 860000

Posted by 860000 > 2014-09-17 21:05 | Report Abuse

looks like the risk now is whether able to sell icar at preferable price or maybe unable to sell at all

Posted by bravoUp > 2014-09-17 21:12 | Report Abuse

If unable to sell then go back below rm1.00

Posted by JT Yeo > 2014-09-18 06:00 | Report Abuse

That would be the first time I heard someone unable to dispose stakes.

Posted by rocky888 > 2014-09-18 13:29 | Report Abuse

buy in now <RM1.4. you get back your cash with RM1.4 at the end of year. now the share is free. downside limited. upside is infinity bcs ur share is free. take back ur cash and watch movie with ur free company.internet potential business is unlimited. will it up to RM1 after given dividend? i do not know... but it may happen in future... no risk investment , where to find?

Posted by paulthesotong > 2014-09-18 14:06 | Report Abuse

Have to wait 4 egm for approval. Then think also check now icar only ad 1.20.

Posted by my101home > 2014-09-18 17:23 | Report Abuse

receive RM1.40 only if Rev able to sell it at the good price it wants. When it comes to reality, it might not achievable. Icar share price has been trending substantially lower since the announcement and the potential buyer will ask for discount for that block considering it is still losing money

When will be the meeting for the approval? roughly, anyone knows?

Posted by my101home > 2014-09-18 17:28 | Report Abuse

agak agak based on current price, the fall is like around 20% so the capital return should be around 1.12. I think this explain why Rev is dropping, anticipating the lower payout. just my very rough calculation

Correct me if I am wrong..

Posted by CleverBoy > 2014-09-18 22:44 | Report Abuse

Hi Crecimiento, Very srange that last week the stock Sona was 0.50. And there has been selling despite the pending good news!! So, why the selling?
And further Sona management has been fudgin and postponing some very important decision concerning the acquisition. The stock is not behaving as expecting some good news!! Would like your point of views. Thank you.

Posted by JT Yeo > 2014-09-19 10:31 | Report Abuse

After reading the write up from felicity, im abit concerned if REV is able to dispose all the stakes. Probably should have waited for a solid confirmation. I was under the impression that REV would not have any problem in selling their stakes.

Posted by CleverBoy > 2014-09-19 22:43 | Report Abuse

Hi Crecimiento,
please analyse the following article and let us know your thoughts.
at http://klse.i3investor.com/blogs/kianweiaritcles/60112.jsp
The article is asking why the announcement of intention of sale and assumptions rather than get a sale of it s shares first, and then announce.
Thank you.

Posted by damagpie > 2014-09-19 22:50 | Report Abuse

Something just not right.

Posted by paulthesotong > 2014-09-20 16:42 | Report Abuse

Why not q the bod at the egm 15 oct 2014?

Posted by JT Yeo > 2014-09-22 17:59 | Report Abuse

Does anyone know why Rev still need to organize a EGM when the major shareholders already have the controlling stakes to make the disposal decision?

Posted by 860000 > 2014-09-23 15:32 | Report Abuse

sure need EGM. Do u think that CIMB or RHB can sell its business with just major shareholder agreement?

Posted by CleverBoy > 2014-09-26 21:27 | Report Abuse

Hi,Crecimiento. How are you? What are your thoughts on Rev? Normal for us to ponder as to what is happenning with this stock. Thanks for giving your thoughts.

Posted by thepinkguava > 2014-09-30 20:16 | Report Abuse

Any idea how come they haven't announced the details of this to Bursa? http://www.astroawani.com/news/show/rev-asia-ambil-alih-laman-portal-hiburan-ohbulan-44616

Posted by myoswee > 2014-10-09 20:06 | Report Abuse

REV back to 1.10 pre icar disposal announcement price. After one month there has been no announcement on any potential buyer on REV icar stake. Pity to minority interest shareholders that bought from 1.60 till 1.10. Good job to the management of REV. Learn something new this time.

Posted by Yoon129 > 2014-10-10 10:56 | Report Abuse

this counter's reputation is spoiled

Posted by myoswee > 2014-10-10 14:05 | Report Abuse

The coming EGM will have confused minority shareholders attending it. Don't know who is the buyer, don't know what is the disposal price. And the management expect to pass the resolution. WoW !!!

Posted by CleverBoy > 2014-10-10 16:10 | Report Abuse

No sign of Crecimiento!! Hey where are you?? Anything to say. Luckily I sold all REV for profit.
At least no loss. Come out Crecimiento and may be you have a story to tell us to buy Rev again.
Want to hear your side of story.

Posted by CleverBoy > 2014-10-10 16:11 | Report Abuse

This one very tricky fellas. If you do buy, buy at your own risk and TAKE THE RISK. Who knows maybe they can sell the shares at a high price. No one knows but the management kepping "mum". Those who know them make money

Posted by my101home > 2014-10-10 23:17 | Report Abuse

Probably he already sold it out and disappear. haha

Posted by CleverBoy > 2014-10-11 02:07 | Report Abuse

Yah man, my101home. We buy they sell!! my101home, you sold out or you Crecimiento. Hahaha,

Posted by CleverBoy > 2014-10-11 02:09 | Report Abuse

But this whole thing is not dead. Clever people can surprise us. What is in store for us at end game. Left to be seen!! Crecimiento !!!!.

Posted by CleverBoy > 2014-10-11 02:42 | Report Abuse

Hey my 101home,.our friend disappeared, with profits in the bank, Maybe he is holiday in Pulau
Berjaya, hahaha

Posted by myoswee > 2014-10-11 09:39 | Report Abuse

Icar is still trading at AUD 1.16 last Friday. Convert it back to RM , Rev Asia is worth at least RM 1.28. Why Rev is only 1.08 now? Because we still do not know if there is any buyer and the disposal price. Management just kept quiet.

Since carsales.com bought a 3% stake @ AUD 1.00 few months ago. I hope this is the floor price when the management dispose off the share later.

Posted by CleverBoy > 2014-10-13 12:06 | Report Abuse

The thing is myoswee, not easy to sell so much in open market. I think great risk in enter this counter. c=recimiento, dunno where is he?? Cabut already. If big investors could be found to buy a big chunk??!! Is anyone interested? Maybe Carsales? The big boys cabut already, and on holidays.

Posted by methodmann > 2014-10-13 12:17 | Report Abuse

Friends, i also cabut already. Waited for RM1.50 but never come.

Friends, got time read the postings by this guy jwarren on the previous posts. Aiyah I should read them first before waiting for so long to sell. Another guy called dodgy is like this crecimento fellow, write a few postings and then disappear.