IOI PROPERTIES GROUP BERHAD
KLSE (MYR): IOIPG (5249)
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Last Price
2.32
Today's Change
+0.04 (1.75%)
Day's Change
2.25 - 2.32
Trading Volume
5,067,000
Major Holders Breakdown
Current Holdings
Name
No. of Shares
Percentage
DATO TING HENG PENG
12,000
40.00%
DATO TING HENG PENG
12,000
40.00%
DATO TING HENG PENG
12,000
40.00%
Historical Transactions
| From | To | Type | No. of Shares | Min Price | Max Price |
|---|
Discussions
5 people like this. Showing 50 of 3,236 comments
NO need to thank me. You should thank IOIPG top management and the CEO.
Ahead of the AGM and EGM on 7 November, I expect IOIPG to announce some good news progressively in the weeks ahead or at the AGM itself. For shareholders to vote for the proposed participation of IOIPG in Shenton House redevelopment project as the exclusive marketing agent and project manager, CEO Lee may need to announce some good news or good progress in its property projects in Singapore.
3 weeks ago
@dragon328 ,
Following your 5-baggers in YTL and YTL Power, looks like your 5-baggers for IOIPG will come sooner than you thought??
3 weeks ago
YTL and YTL Power had taken almost 2 years to give me a 7 bag (from RM0.70 in May 2022 to a high of RM5.40 in May 2024). I would be happy if IOIPG could double up in one year by June 2025, from my initial recommendation in July 24 at price of around RM2.10.
For IOIPG to return a 5-bag return, it will take years and will need IOIPG management to undertake active corporate exercises to unlock its vast assets.
3 weeks ago
IOIPG just made a circular to shareholders during lunch break. I summarise the salients points as below:
- The main point for the EGM is to seek shareholders approval for IOIPG to participate in the Shenton House redevelopment project
- IOIPG management has earlier rejected the offer by CEO Lee to take over the Shenton House project due to capital commitment which would increase IOIPG net gearing from 0.68 to above 0.90x
- Instead IOIPG management has entered into a Management Agreement with Shenton 101 to manage the redevelopment of the project and act as exclusive agent , without equity commitment
- The entry into the
Management Agreements seeks to address the decision-making process regarding
matters where LYS has a potential self-interest or situations that may impair his ability
to perform his role as the Group Chief Executive Officer of IOIPG in an objective and
impartial manner. The terms of the Management Agreements provide IOIPG Group
with the ability to direct the manner of the development and management of the
Property in a way which manages potential competition between the business of the
IOIPG Group and Shenton 101 and will form the basis of a governance structure to
manage the Potential COI, notwithstanding that the IOIPG Group does not hold any
equity interest in Shenton 101.
- Under the terms of the Management Agreements, the IOIPG Group has been granted
a right of first refusal to have the priority right to acquire or match any third party offer
if (i) Shenton 101 were to seek to dispose of any part of the Property (including any
developed units/properties) or (ii) LYS were to seek to dispose of any part of the equity
interest held by him in Shenton 101 or (iii) Shenton 101 or LYS were to enter into any
joint venture or joint development or other disposal or transfer arrangements. The right
of first refusal is valid throughout the redevelopment period of Shenton House (which
is anticipated to end by the first quarter of 2031 based on the current redevelopment
schedule) or a period of 7 years after the date of the Management Agreements,
- Multi Wealth shall take conduct of the co-ordination, superintendence and supervision of the Project
at the cost and expense of Shenton 101, and Shenton 101 appoints, authorises and empowers Multi Wealth to manage the day to day operations of the Project
- During the Pre-Development Period, Wealthy Link (IOIPG subsi) will be paid a fee of SGD140,000 a year for Pre-construction business coordination and facilitation services + a fee of SGD53,000 a year for interim accounting and corporate support services
- During the Redevelopment Phase, Wealthy Link shall be paid for construction management services a fee which is equivalent to 2.2% of the total construction costs + a fee equivalent to 0.45% of total construction costs for interim accounting and corporate support services
- During Post-Redevelopment Period, Wealthy Link shall be paid a fee equivalent to 3% of Gross Revenue (all rental income to be received by the Redeveloped Shenton House) for provision of management services, and
- where Wealthy Link provides property management services in respect of or in
connection with the lease administration of the Redeveloped Properties (for both
new lease and lease renewal), a leasing management fee of 0.25 month’s gross
rent
3 weeks ago
To me, this is all good to IOIPG as the project manager as it will not need to come out with equity money to fund the project, but instead will receive fees for managing the project.
During pre-development period, IOIPG will receive total fees of SGD195,000 per annum
During the Redevelopment Phase, IOIPG still stand to receive total fees of 2.65% of total construction costs, or 2.65% x SGD600 million = SGD15.9 million during the 4-year construction period
During Post Development Phase, IOIPG will stand to receive management fees of 3% of Gross Revenue estimated at SGD68 million a year when fully tenanted, i.e. 3% x SGD68m = SGD2.0 million a year
3 weeks ago
I won't be attending this AGM/EGM as it is far away from my base town, but for those staying in the Klang Valley, it may be good to attend it so as to get first hand info from CEO Lee on any good news or good progress in the Singapore projects. Anyone attending it pls do report the main take-away points to us who are not able to attend.
3 weeks ago
IOIPG released its Annual Report 2024 yesterday. There are several pleasant surprises in CEO Lee's key note address:
1) IOIPG plans to launch over RM5 billion of properties in FY2025 (ended 30 Jun 2025), surpassing FY24's RM4.49 billion of launches.
2) Property development segment will also witness launches in existing industrial parks. In addition, there will be an introduction of a new industrial park in Melaka in FY25.
3) Spread over 322 acres, IOI Industrial Park @ Banting is expected to launch some 50 units of cluster, detached and semi-detached factories in FY25 itself, which is sooner than expected
4) IOI Industrial Park @ Iskandar Malaysia will increase its acreage to 1,107 acres, more than double of the earlier 500 acres allocated due to strong demand
5) The acquisition of Tropicana Gardens Mall will be finalised and begin contributing to IOIPG earnings as early as Q1 CY2025, in conjunction with the seasonally strong year end and CNY festive periods
6) IOI BUsiness Park in Xiamen, CHina will begin its initial contribution in FY2025, as business environment started to get a big boost from Beijing stimulus measures
7) IOI Central Boulevard towers in Singapore will begin initial contributions in FY2025, with tenancy rate increased to 60% now from 50% as of 30 Jun 2024. This is a major positive catalyst
8) Total net lettable area (NLA) of IOIPG's four malls stood at 4.34 million sq ft in FY24, is set to increase to 5.39 million sq ft in FY25 with the addition of Tropicana Gardens Mall. This paves the way for setting up a commercial REIT soon
9) Total NLA of IOIPG's six offices stood at 4.43 million sq ft, which I presume has included the 1.29 million sq ft from IOICB. This is sizable and ripe for injection into a commercial REIT when tenancy rates mature
10) The hospitality and leisure segment will get a boost in FY2025 with contributions from the acquired 199-room Courtyard by Marriott Penang which was completed in July 2024, and the commencement of the 370-room Sheraton Grand Xiamen Jimei slated for completion by Q2 FY2025 (Dec 2024).
11) Inclusive of the 634-room JW Marriott Hotel Singapore South Beach, total hotel rooms of IOIPG will increase to 3.075 rooms (of 9 hotels) by Dec 2024, which is sizable for injection into a hospitality REIT
12) The new luxury hotel in Langkawi and the new 350-room W Singapore - Marina View are scheduled for completion in 2028
3 weeks ago
On the other hand, Hong Leong research issued an update report on IOIPG this morning. There are plenty of good news in recent developments in Singapore as highlighted in the report.
Anyone interested in getting the report, pls pm me
3 weeks ago
UncleFollower, you are chun chun. I missed to add after happily collecting the 5 sen dividend.
2 weeks ago
Thank you dragon328 for ur prompting...i added after i read ur reports 😀...and collected dividends as well.
2 weeks ago
The buyer isn't hiding anymore...feel like chasing high somemore but I refrain 😂
2 weeks ago
@dragon from your stock selection, if you bought enough, you are set for this life and next 😆
2 weeks ago
Another good closing today!!
Looks like some good news is indeed coming soon as @Nadayu said.
2 weeks ago
Uncleflower..u r right. Just need a few good one and go in big and u ate all set for the next 10-15 years retirement funds
2 weeks ago
https://klse.i3investor.com/web/blog/detail/dragon328/2024-10-09-story-h470999089-IOIPG_Multiple_Re_Rating_Factors_in_Coming_Months
@myloh123, read the article above again. I have already given enough hints there.
2 weeks ago
https://klse.i3investor.com/web/blog/detail/savemalaysia/2024-10-17-story-h471865730-All_for_HOC_s_return
The return of HOC will be great news for most property developers including IOIPG
2 weeks ago
Following dragon's analysis, every dip on this renewed uptrend is a buy. Unfortunately missed out the early morning odd steep fall.
1 week ago
The selling this morning was due to disappointment of some short term traders on the lack of HOC and Madani Deposit scheme in Budget 2025, even if these schemes were announced at the budget tabling, I suspect these short term punters would have sold on news anyway.
It is good to flush out the short term punters whose selling has been quickly adsorbed by longer term investors.
Even though HOC and Madani Deposit scheme were not announced during the budget tabling last Friday, it is not all lost. There are other measures which are positive for the property sector.
In particular, the government guarantee of RM12.8b has enabled some 57,000 first-time home buyers to obtain necessary financing to purchase their first house under RM500,000.
The government announced an extension of another RM10b to enable at least another 20,000 first-time home buyers to get home loans to purchase houses priced up to RM500,000.
These two initiatives will enable easily 80,000 first-time home buyers to buy their first house, and will help to clear the outstanding inventory of at least 80,000 units of overhand properties.
In addition, the Step Up Financing Scheme under SJKP offers a government guarantee of up to RM5.0 billion for young people purchase their first home. The scheme provides lower repayment options for the first 5 years to ease their financial burden. Assuming a guarantee amount of averaged RM100,000 per buyer for the first 5 years of lower instalments, this scheme will benefit another 50,000 young home buyers.
All these schemes above aim to address the issue of difficulty in getting financing for young home buyers due to low monthly salary at young ages or instable monthly income.
1 week ago
I suspect the selling was done by call warrant issuers to depress down the share price ahead of the expiry of 4 call warrants this month end, but I may be wrong.
1 week ago
I think foreign funds were selling IOIPG today, after they acquired some RM5m worth of IOIPG shares yesterday, on top of continuous selling by call warrant issuers.
We need to ride through this volatility to end of Oct.
1 week ago
I think dragon is right, it's the call warrants. I have seen this many times, unfortunately, they do not necessarily rebound post expiry. Usually there's a drive up before the expiry for the sell down. This appears to have happened. If this is true there is no announcement coming
1 week ago
On the very bright side, IOIPG play is clear - just wait for the IOI REIT. Sometimes one wonders where are the investors now when it's so obvious? Well most investors do not like to be locked in indefinitely - and there's much truth to it. Once it runs the investor who comes in and buys say 10x what we old shareholders were buying, they wil still make more lol
1 week ago
Foreign funds net bought RM22m worth of IOIPG shares yesterday after a net purchase of RM5m on Wednesday. Yesterday IOIPG dropped big on heavy volume of 16 million shares. Foreign funds net bought about 5 million shares yesterday.
Who was selling? As said before, I suspect it was call warrant issuers likely RHB (C19, conversion price RM2.28) and Maybank (C21, conversion price RM2.35)who have a call warrant expiring on 28 and 30 Oct respectively.
It could also be EPF selling in an EPF fund managed by Citigroup who has notoriously prematurely sold stakes of stocks that are about to rally up, eg. YTL Power in 2023 and Sunway in Jan 2024.
1 week ago
Dragon your statement on foreign net buy @ 22M and 5 million share does not add up. Please check
1 week ago
Rebounding earlier than expected. If it's the call warrants, "they" won't allow this eh
1 week ago
@value_seeker, apologies, it should be around 10 million shares of IOIPG that foreign funds net bought yesterday - RM22m / RM2.20 = 10m
1 week ago
EPF sold 3.0 million shares of IOIPG on 22 Oct, again by its fund manager Citigroup, while foreign funds were buying.
Foreign funds net bought RM6m of IOIPG shares last Friday, after the big purchase of RM22m last Thursday and RM5m last Wednesday.
Interestingly, local institutional funds also net bought RM8m worth of IOIPG last Friday, local retailers were the only net sellers with a net sale of RM3m.
Who then were the other sellers? The answer is obvious - call warrant issuers - RHB, Maybank, CIMB and less so Macquarie.
Buyers continue queuing up at 2.28-2.25 ready to collect more tickets as these call warrant issuers dump their mother shares hedge to depress the final settlement price for the call warrants leading up to 30 Oct.
6 days ago
Slowly but surely IOIPG is now my largest holding. There's always comfort in value, even if this dips we can add or hold. The CW effect is real. However syndicates love to play it down even after...so I do not expect a rebound after CW expiry, maybe there'll play another round 🤦 technicals and momentum is really not bad tho. REIT REIT REIT
6 days ago
Given that IOI is heavily vested in SG props meant to be held for long and REITed, it is holding up fairly well now that the rate outlook has moved dramatically betting on Trump's victory. Yet, why does the market think Trump himself is so inflationary and whacking commercial properties...he's a property man!
6 days ago
Correct, @UncleFollower. The market is betting on a Trump's win and hence lower interest rate cuts after that, but I won't bet on that. Kamala Harris may still have chance to run ahead in the last few days, especially if a ceasefire talk can achieve the desired result in Gaza.
Even with a Trump win, market scenario simulation points to a total 100 bps rate cut by Dec 2025, compared to a 150 bps rate cut with a Kamala win, so it will be just a 50 bps difference between the two scenarios. The big picture of Fed pivot will never change.
6 days ago
Hmm. Could have sold a few hundred lots at 2.30+ knowing the CW expiry will push the stock down. Alas I didn't move. This isn't right for a trader...getting a bit too attached and too emotional becauuse it is so good 😯
5 days ago
https://www.thestar.com.my/business/business-news/2024/10/29/ioi-properties-to-develop-rm12-bil-ioi-rio-city-over-12-years
First of a few positive surprises came out yesterday, but it was not widely reported yet. Not even in The Star hardcopy papers today, and no analyst has picked up this news.
Even EPF has turned buyer of IOIPG with a net purchase of 500k shares last Thursday, foreign funds net bought RM4m of IOIPG on Monday, after a net buy of RM6m last Friday and net buy of RM22m last Thursday.
But all these were not enough to counter the selling by call warrant issuers.
4 days ago
Interesting development. IOI Rio Mall 1M sf is only 15 mins away from IOI Puchong hmm. Both are REITable.
4 days ago
IOIPG holding at this price despite CW and the market is actually very encouraging. Hopefully post CW expiry i.e. this Friday, no further big dump. Otherwise the wait will be much longer
4 days ago
See EPF again net bought 671,700 shares of IOIPG last Friday. Foreign funds also buying in.
Who would sell the shares of this great company with strong earnings growth and many good news coming its way?
That was one seller queuing 1.0 million shares to sell at RM2.28 at 4.48pm just now, and press the share price from RM2.30 to close at RM2.28. Who the heck would do this thing?
Only call warrant issuers.
4 days ago
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@,Dragon328,thanks Mr Dragon for the good article write-up.
3 weeks ago