Posted by Carlsson Lim > 2012-09-02 21:24 | Report Abuse

http://www.themalaysianinsider.com/business/article/ihh-bears-rm1.47b-forex-risk/

Posted by tand3 > 2012-09-02 21:34 | Report Abuse

Carlsson Thanks Bro....Good info.

That is one of the reason why some fund refused to invest their fund into IHH eventhough there is good Quarterly report recently.

Bro Mat Cendana & Wok Jono,

The both brothers opinion are sought on this IHH exposure to ACibadem debt. Please comment. TQ in advance.

Posted by KC Loh > 2012-09-02 21:41 | Report Abuse

i wanted to get into the IPO but made a U-turn after finding out that they had i recall 7bn in debt prior to their listing. In the annual report it stated was for expansion. My concern is, if they are managing their debt properly, how did they end up with a debt of around 7bn?

looks like they are heading that way again, although it must be said that from the last report, Acibadem looks a possible cash cow. Hence their motive to privatize it! still some gray area for me with regards to IHH.

Posted by KC Loh > 2012-09-02 21:43 | Report Abuse

in fact i did try apply the IPO, but wanted to sell off for immediate profit! i am greedy! so sue me! :)

Posted by tand3 > 2012-09-02 21:44 | Report Abuse

KC LOH thanks for your prompt reply and sharing.

Posted by Carlsson Lim > 2012-09-02 22:13 | Report Abuse

Welcome stand3.
So who still grabbing need to be extra carefully ady. In fact I just started my ipo application on pasukhas and data instead of this stock. But unfortunately failed to secure both at all.... now trying for igb.... wish best luck

Posted by Mat Cendana > 2012-09-02 22:48 | Report Abuse

tand3 - I haven't really read the financial report in full detail. But I've read the piece in The Edge weekly of "IHH's US$500 mil forex risk".

It's a thorn for IHH but at the same time, I feel the title could be a bit too dramatic. If one doesn't read it fully, the conclusion might likely be "IHH could stand to lose US$500 mil", which isn't the case at all. It's just refers to the unhedged cross-currency loan of US$460.7 mil which its Turkish arm Acibadem had taken where the loss was due to the strong US dollar versus the Turkish lira.

The US$ had gained against most currencies in the last quarter due to investors' fears about the Euro zone, and that included against Malaysia too. But it has come down a bit this quarter - in fact, if talks of QE3 by the Federal Reserve continues to gain traction, it might come down further. So, the currency matter will then become less of an issue.

Currency appreciations and fluctuations are part and parcel of international trade and finance, and I believe companies that have businesses in various countries are well aware of the risks (which could also turn to "rewards") and have made provisions on the matter. News like this might affect its price somewhat. But I don't think it will linger on for long. After all, there aren't too many counters like IHH being listed and it won't lose the perception of being "stable" just because of this currency matter (which is faced by other cross-border companies too). IHH investors (inclusing and especially institutions) are those who look at the longer term and not at what the daily and weekly prices are. It's not a counter for traders but for those who can sit and wait.

Posted by tand3 > 2012-09-02 23:10 | Report Abuse

Mat Cendana,

Thanks for the reply.... Yes, there is always risks in every business.
Agreed.

Posted by Mat Cendana > 2012-09-03 10:25 | Report Abuse

See how the price is affected by the news reports? This is to be expected because many people are too quick to respond without taking the trouble to really think and consider. The article in The Edge - again, "phantom quotes" are used, i.e. `analysts' with no names. Why are they anonymous??

But if one has done his homework and given IHH the thought and consideration before buying, he wouldn't be perturbed by this one. Conviction is needed with counters like this, unless something fundamental changes (and this currency matter isn't a fundamental issue... just a quarter-to-quarter problem). After the weak holders have been flushed out, the price will go up again.

Posted by Steve Jub > 2012-09-03 12:56 | Report Abuse

luckily drop with low vol only

Posted by Mat Cendana > 2012-09-03 13:06 | Report Abuse

Good observation, Steve; which is something that I should have also mentioned in the previous comment. If one were to look at the individual transactions, these appear to be traders with small lots who panicked or were discouraged by the articles and are selling to cut loss. It's a good thing for the longer-term investors because there will be a new base, minus the weak holders, from which the next upswing will come from.

Last Thursday the volume was 16.3 mil. Before that were 9.6, 9.5, 7.9, 6.2, 9.3, 17.2, 18.9... Today the price went down with just 2.5 mil at noon. I think it wouldn't take much for the price to spring back to 3.20. By the way, the -CM warrant is holding up well. I'm also eyeing to get in on this one and try to make a few ringgit in the next upswing.

Posted by Mat Cendana > 2012-09-03 13:21 | Report Abuse

The "Trending Now - Hot Stocks Today" at the right side on i3investor's landing page - are these figures accurate? I wonder how they are computed. It shows IHH with a green arrow, which is baffling because the price and volume are lower.

Posted by Steve Jub > 2012-09-03 14:53 | Report Abuse

Mat, I have been holding the CM

Posted by kltrader > 2012-09-03 15:24 | Report Abuse

Mat, see the bottom of this page for how the stock trend scores are calculated - http://klse.i3investor.com/jsp/quotetrend.jsp

I presume a popular stock where many people are searching/viewing, or when a stock is covered in many news articles, will trend higher.

Posted by Mat Cendana > 2012-09-03 15:32 | Report Abuse

How could I have missed that explanation!? Sheepish to admit that I had only looked at the main page and didn't click to see the others. Thanks. Now it's a lot clearer although we don't know the exact algorithm used, i.e. how much weightage is given to the factors.

Posted by winwin > 2012-09-03 15:36 | Report Abuse

any dividend policy for this stock?

Posted by passerby > 2012-09-03 15:37 | Report Abuse

competition IHH-CWs is just to great. There are CA till CO ( 15 nos. ) of choices to pick. Not many traders willing to compete in a very competitive environment unless if the underling share can perform extra-ordinary.

Posted by Steve Jub > 2012-09-03 19:19 | Report Abuse

sharks like to makan this counter kuat during last minutes,hehe..

Posted by roof > 2012-09-05 13:01 | Report Abuse

Yes mr jub, sharks do indeed like this :) if this goes below 3.05 it will be more attractive. Hmmmm i smell blood...

Posted by rapidfire > 2012-09-05 15:03 | Report Abuse

Can go up but will be a notch down ie below 3.10 BEFORE moving UP

Posted by Steve Jub > 2012-09-05 15:31 | Report Abuse

why rapidfire? below 3.10 is oversold?

Posted by Mat Cendana > 2012-09-05 15:40 | Report Abuse

Today IHH is affected by the general market sentiments. Will just have to hold on and wait it out. As for the currency matter, The Star Biz yesterday quoted a HLIB analyst as saying "the forex risk should not be a big problem for the company."

"For a company as big as IHH, they can afford it. Every company which ventures overseas will be faced with forex risk."

Don't forget the cash which IHH obtained from the listing. It can use part of this to totally pay off the debt, if it wants to. It can also start to hedge or whatever. As I had said earlier, it isn't a huge problem that would threaten IHH. The title in the The Edge is certainly too speculative and sensational, as if that's what IHH stands to lose.

Posted by Steve Jub > 2012-09-05 16:24 | Report Abuse

thanks mat. hopefully good closing la today. as usually expect big lot come in last min.

Posted by roof > 2012-09-05 23:38 | Report Abuse

It will still drop until thurs and fri annoucement. There is also no catalyst at the moment. Don't see anyone defending this stock at this point.

Posted by kcfan > 2012-09-06 08:02 | Report Abuse

IHH Healthcare Bears US$460.7mil Risk
IHH Healthcare (IHH)’s foreign exchange exposure risk remains a concern to analysts as IHH’s Turkish arm Acibadem Holdings had reported foreign exchange losses on an unhedged loan amounting to US$460.7million.The loan, which is serviced in Turkish lira, has a US$257.1millon payment due in 2015. The remaining RM203.6million is an amortised loan that will be repaid in semi-annual payments until 2018. Few analysts considered the foreign exchange risk a non-major concern. One analyst from CIMB Investment Bank said the management has been capable of containing the foreign exchange risk and believes that the US$500million debt is expected to be refinanced, most likely in the Singaporean or Malaysian market to benefit from interest rate savings. Currently, exchange rates are increasingly trending in favour of the Lira. The currency is less volatile than it was two to three years ago.

Significance: According to IHH, Acibadem’s earnings are largely dependent on the year-end US$ to Turkish Lira exchange rate and its impact on the unhedged borrowings. Although the earnings for the second quarter ended 30 June were slightly below expectations, stronger growth is expected in the second half.

Posted by roof > 2012-09-11 12:22 | Report Abuse

Good call rapidfire

Posted by jacky187 > 2012-09-11 15:10 | Report Abuse

Anyone know what is the meaning of the following ?

1. Details of Corporate Proposal
Whether the corporate proposal involves the issuance of new type and
new class of securities? No
Types of corporate proposal : Others
Details of Corporate Proposal : Issuance of shares pursuant to Long Term
Incentive Plans
No. of shares issued under this corporate proposal: 34,378
Issue price per share ($$) : MYR 1.750
Par Value ($$) : MYR 1.000
Latest issued and paid up share capital after the above corporate proposal
in the following
Units : 8,055,445,168
Currency : MYR 8,055,445,168.000
Listing Date : 12/09/2012

Posted by kcfan > 2012-09-12 21:15 | Report Abuse

Health Holdings (IHH, 5225, trade service group) is the world's leading healthcare service providers, analysts optimistic about the virtue of good cost management, as well as aggressive expansion tactics conducive to safeguard the Group's earnings outlook, the foreseeable short-term profit earned benefits will be maintained at a level of 20%.
MIDF Research said, thanks to steady turnover growth and good cost management, integrated healthcare holding 2010 and 2011 fiscal year operating profit (EBITDA) were up 23% and 33.8%, bringing EBITDA of 18.1% and 21.1% earn benefits I believe that the existing management can be maintained in the foreseeable future EBITDA earn benefits at 20% level.
"Because of the scale, we expect integrated healthcare holding has economic benefits will take advantage more than competitors, and mergers and acquisitions synergies created by the Acibadem, will also become the group to achieve cost savings and profit growth resource platform."
Therefore, MIDF Research give comprehensive health care holding compared to regional peers enterprise value times the value (EV / EBITDA) 5% premium reasonable price of RM3.00 and 26 sen, it is believed that the existing stock has a reasonable reflection of the market is expected to maintain "and" rating.
Source :http://biz.sinchew-i.com/node/65102?tid=18

Posted by Wak Jono > 2012-09-14 12:23 | Report Abuse

when i buy ihh since ipo..i have no doubt that it will make a good hold...cause i but ihh not for short term..or speculative but for long term..so if u play like to trading stock, this ihh not a best bet..if u buy for long term accumulation growth then u are in right boat

Posted by Steve Jub > 2012-09-14 21:07 | Report Abuse

great recovery this week :)

Posted by Steve Jub > 2012-09-18 13:13 | Report Abuse

mother up but children not up one?

Posted by Mat Cendana > 2012-09-18 13:43 | Report Abuse

It has been going up quietly since last week. Maybe a bit too quietly which is why the children have not been getting the attention... yet. But their premiums are getting lower all the time and traders will start to notice. They are just waiting to make sure that the mother will at least defend the gains. Then the children will become attractive.

Posted by batman > 2012-09-18 13:51 | Report Abuse

Mc, quiet is good.......always remind me daibochi
C......

Posted by batman > 2012-09-18 13:52 | Report Abuse

Superman doesn't say up up and away anymore. It gives the villain a chance to sucker punch if ever presented...

Posted by Mat Cendana > 2012-09-18 14:06 | Report Abuse

I hope you're right. There's merit to being quiet - counters like this tend to go against the general market, in a good way. This is when they are accummulated by serious, long-term investors and won't be much affected by contra players pushing the price down. You'll need a lot of patience with this counter though because there won't be regular, announcements like with the oil & gas, and construction companies that create excitement and a spike in the prices.

Posted by batman > 2012-09-18 14:34 | Report Abuse

Yeap hence this is ESP true for those with good financial performing results but share price cannot move.

Posted by Steve Jub > 2012-09-19 17:49 | Report Abuse

woohoo, mother has been good. children please rise up :)

Posted by Steve Jub > 2012-09-20 19:18 | Report Abuse

Good ah today, steady back.

Posted by Mat Cendana > 2012-09-20 20:28 | Report Abuse

Considering how most other counters dropped today, the fact that IHH actually gained one sen is encouraging. I'll be happy if it keeps on performing like this - nothing sensational, just go up quietly.

Posted by kcfan > 2012-09-20 22:25 | Report Abuse

List of new hospitals
Hospital Country No. of licensed beds Expected operation commencement date.
Mount Elizabeth Novena Hospital Singapore 333 1st phase: Jul 2012
Gleneagles Kota Kinabalu Malaysia 250 Early 2015
Pantai Hospital Manjung Malaysia 100 Early 2014
Gleneagles Medini, Iskandar Malaysia 300 1st phase: Early 2015
Shanghai International Medical Centre China 450 2014
Gleneagles Khubchandani Hospital India 450 End 2012
GM Mondi Hospital India 300 N/A
City International Hospital Vietnam 313 2013
Acibadem Ankara Hospital Turkey 78 3Q 2012
Acibadem Bodrum Hospital Turkey 110 1st phase: Jun 2012

Posted by Steve Jub > 2012-09-21 12:06 | Report Abuse

like what they always said, this counter is defensive ma haha

Posted by Steve Jub > 2012-09-21 17:42 | Report Abuse

closing not bad

Posted by Wak Jono > 2012-09-24 12:23 | Report Abuse

keep buy this counter regulary every month...little2 then i become huge one day..

Posted by Steve Jub > 2012-09-24 13:02 | Report Abuse

what happen today?

Posted by moven00 > 2012-09-24 22:54 | Report Abuse

Nothing happen to IHH also....
Hahahaha....wait....the big drop comes...then the opportunity to buy in.....

Posted by kcfan > 2012-09-26 20:43 | Report Abuse

IHH Healthcare Bhd's wholly owned unit Shanghai Shu Kang Hospital Investment Management Co Ltd has secured a business licence from Shanghai Industrial and Commerce Bureau (SICB), enabling it to establish a special purpose vehicle, Shanghai Mai Kang Hospital Investment Management Co Ltd. Shanghai Mai Kang is slated to have an initial registered capital of 41.3mil yuan or RM20.1mil. The licence from SICB is valid until Sept 23, 2020.

Posted by Mat Cendana > 2012-09-27 15:33 | Report Abuse

This is encouraging - it is seriously challenging the 3.20 resistance. If it can get past this, I believe it will go on its long overdue upswing.

Posted by rich kueh > 2012-09-27 15:40 | Report Abuse

about time for IHH to fly

Posted by rich kueh > 2012-09-27 16:16 | Report Abuse

hope it can sustain at 3.20

Posted by wolverine > 2012-09-27 16:34 | Report Abuse

I have a lot of confidence in this counter but hoping it would provide buying opportunities intermittently, you know what I mean.No hard feelings brothers !!