bullrun2025

@dragon328, ok tq

1 week ago

bullrun2025

China property market may drag down ioipg

1 week ago

dragon328

China property market has been slow, so I think IOIPG is not putting much focus on the China market with no new launches.

It is more important for them to focus on the Singapore market with IOICB completing soon, and Marina View Residences to be launched by year end. Furthermore, CEO Lee needs to get this Shenton House deal settled in an acceptable way so the group can focus on getting on expanding the business in Singapore.

Furthermore, another focus is to execute the planned expansion at IOI City Mall phase 3 successfully to continuously attract crowds to its shopping mall and adjacent hotels.

1 week ago

dragon328

Another area the IOIPG management should pay some attention to is its vast Johor landbank, to review its existing development plans and to see if there is any good opportunity to monetise some parcels of land there to reduce borrowings.

We do not like to see another cheap sale of land such as the 400+ acres sale to Eco World last November at just RM12 psf. It was obviously a lapse / lack of attention in the management team.

1 week ago

VincentTang

WOW, IOIPG 5 Bagger stock. Must buy some. Sapu....
Another multibagget stock is FPHB. Don't miss.

1 week ago

VincentTang

JPMorgan upgrades Malaysia amid economic reforms, renewed investor confidence, data-centred investments.
Foreign money is coming back to Malaysia.
https://theedgemalaysia.com/node/718568

1 week ago

speakup

Sailangggggg!!!!
All in!!!!
Ini kalilahhhhhh!!!!

1 week ago

Eagle77

Profit taking ⬇️🩸

1 week ago

Eagle77

TP downgrade to 1.90 ⬇️🩸

1 week ago

Eagle77

Runnn operator dumping ⬇️⬇️⬇️🩸🩸🩸

1 week ago

dragon328

Don't spread unfounded news. There isn't any operator in this counter, it is a fundamental stock with good upside potentials to long term investors, not for short term punters.

Please move aside to other penny stocks if you like to do short term trading.

1 week ago

dragon328

You can see EPF has been accumulating IOIPG in recent weeks, the most recent was the acquisition of 3 million shares on 9th July 2024.

1 week ago

goody99

dragon328, thank you for your article. No wonder EPF keeps buying this stock and analysts are bullish.

1 week ago

Eagle77

TP : 1.90 ⬇️🩸

6 days ago

yewnamhung

"There are two sides to every question " ~~ No Gain without pains 🤜🤛

6 days ago

Eagle77

Big holders can become an operator who say no operator here⬆️⬇️

6 days ago

Eagle77

Target 1.90 below ⬇️🩸

6 days ago

Eagle77

Market full of uncertainty if war getting worst then property will die first so better invest in gold ✅

6 days ago

dragon328

Then you go invest in gold, please get lost from here

6 days ago

Eagle77

U think this forum your father punya kah???

6 days ago

Eagle77

Will down to below 1.80 ⬇️🩸

6 days ago

dragon328

Press it down lower better, so that we can accumulate more below 2.00.

Once it approaches RM2.00, the downside is limited. At most it will retest year low of RM1.80 like Eagle77 is wishing.

6 days ago

Eagle77

Down more because political still unstable and uncertainty of war ⬇️🩸

6 days ago

dragon328

Foreign funds have accumulated a total of RM299.66 million worth of IOIPG shares YTD to 30 June 2024. They added the most in the month of May 2024 with a net purchase of RM99.7 million. Average purchase price in May should be around RM2.20-2.30 as IOIPG share price traded between RM2.10 and RM2.50.

Foreign funds bought in a total of RM178 million worth of IOIPG shares in Jan-Mar 2024. Average purchase price should be around RM2.10 as IOIPG share price traded between RM1.85 and RM2.35 in Q1.

All in, I see that the average entry cost of foreign funds in IOIPG is around RM2.20.

Statistics shows that some small quantity of foreign funds exited IOIPG in early July with total sale of RM7 million so far. The selling was likely to have been prompted by the Shenton House proposal announced in early July. As I have written about this proposal which I see is small positive bias in the long run to IOIPG, I do not see further selling of foreign funds in near future.

I continue queuing at RM2.11-2.12 to accumulate more, hope I will be able to get it soon when the remaining short term funds / traders sell off in protest of the SHenton House proposal.

6 days ago

raymondroy

counter seems to have good support at 2.20 level.... awaiting fresh news that is, and as for shenton.... i assume this is already incorporated into the current support level price, only upside here on will be the REIT direction .... IF mngt deems fit... otherwise nothing terribly exciting :-) cheers

6 days ago

dragon328

Ya, this is not a stock as exciting as those related to AI or construction theme which are hot lately, but I believe and prefer IOIPG will rise in a slow and steady manner to reflect its improving earnings outlook in next 2-3 years.

6 days ago

dragon328

After 3.00pm, some foreign funds start their operations selling down IOIPG below 2.20. May have chance to collect low at 2.11 today. Get ready your bullets.

6 days ago

Eagle77

Tomorrow continue downtrend ⬇️⬇️⬇️🩸🩸🩸

5 days ago

MULTIEVER

@bobbyAxe71 is it you? long time no see 😭

5 days ago

Eagle77

Prediction price will retrace to 1.80 ⬇️🩸due to unhappiness of SHenton House proposal.

5 days ago

dragon328

https://www.theedgesingapore.com/news/special-feature/ioi-central-boulevard-towers-building-greener-future

Good article on IOI Central Boulevard by Edge Singapore.

Sustainability at the core

David Tibbott, managing director for asset management, says: “Our sustainability objectives are closely aligned with that of our tenants. This development showcases IOI Properties Singapore’s dedication to creating sustainable, top-tier offices that meet the evolving needs of today’s businesses, including major tenants like Amazon and Morgan Stanley.”

5 days ago

remus

Hi dragon328, thanks for sharing many good insights & useful info. May I know where you get the detail data on foreign shareholdings ?

3 days ago

dragon328

@remus, I get daily updates from Hong Leong research team on the movements of funds in top 10 counters by value. I think Hong Leong and other brokers like MIDF have access to Bursa data on foreign funds and local funds movements in each counter.

3 days ago

dragon328

The share price of IOIPG is under selling pressure which I am not sure is from where. Some foreign funds may be selling IOIPG this week after the CEO proposed for IOIPG to take over the Shenton House project.

The last data that I have shows that local funds sold a total of RM6 million worth of IOIPG shares on 16th July, and foreign funds sold a total of RM7 million of IOIPG shares on 15th July.

Apparently funds are unhappy with the proposed related party transaction, and IOIPG top management team is not doing much to appease investors on the proposal, hence the heavy selling seen in past 2-3 weeks.

I am rather disappointed with things going on at IOIPG management, or rather my initiate coverage on this stock was premature. I should have waited for some positive actions from IOIPG top management to avoid heavy selling from funds, before I recommended a Buy on this stock. I apologise for the mistiming.

3 days ago

dragon328

Expect continued selling on IOIPG shares until the top management takes some proactive steps to address investors' concerns below:
1) the rationale of injecting Shenton House project into IOIPG from the CEO
2) how will IOIPG address its high gearing which will get even higher after Shenton House injection?
3) why is IOIPG management not taking swift actions to monetise its vase assets like selling some parcels of land in Kulai to data centre developers, or engaging investment bankers to study the possibility of injecting its shopping malls and office towers into a commercial REIT?

4) why is IOIPG management not updating on the progress of its prime asset IOI Central Boulevard in Singapore, whether it has indeed received the Temporary Occupancy Certificate on 5th July 2024? whether it has managed to secure any more tenant for IOICB on top of the secured tenants of Amazon and Morgan Stanley?

5) its associate company, IOI Corp just announced to be looking at the possibility of selling some of its plantation land to solar power farm developer or forming a JV to monetise its plantation land. Why is IOIPG management not doing any of that? It has some 3,900 acres of land in JB/Kulai, is it keeping it all for future property development which may take 30 years of even 50 years?

Until we see IOIPG management taking proactive steps to address investors' concern, I think the share price will continue under selling pressure and I expect the Shenton House proposal to be rejected by minority shareholders in an EGM in next 4 months.

So disappointing. It is like another AEON's early CFO and management which were not so agile in managing the company cashflows and balance sheet.

3 days ago

dragon328

In Bursa announcements, I only see EPF buying up to last Friday 12th July. I suspect it has sold some IOIPG this week on 16th July, will need to wait for few more days before we see any Bursa announcement to confirm that.

EPF may also be frustrated if IOIPG management is not able to give them satisfactory answers to EPF's concerns and queries. Then I would expect EPF to vote against the Shenton House proposal.

3 days ago

dragon328

@remus, the data on YTD foreign funds buying in IOIPG is extracted from the monthly fund flows reports from Maybank research. I just summarised the funds movement data in IOIPG from the past 7 month Maybank reports.

3 days ago

dragon328

While IOIPG is grossly under-valued whether based on assets or future earnings growth, the share price may continue to be depressed in near term due to the Shenton House proposal and lack of clarification and proactive actions from IOIPG management to address investors' concern. I initially thought the CEO's move was transparent enough and was good to IOIPG minority shareholders, now I really do not know what the CEO wants and what IOIPG management intends to do.

If they still want the Shenton House proposal to get approved by shareholders, they should be doing the right things of addressing investors' concerns, and not letting the share price crushing down like what happened in past 2-3 weeks.

The more the share price crushes down, the more disgruntled investors will become and the more likely they will blame the management and the CEO for this related party proposal that triggered the sell down of the stock, and eventually vote down the proposal in the EGM.

Had they been doing the right things and convening the right messages to the investment public, the share price will not see so much selling. The investor relation department of the company should take the blame.

3 days ago

dragon328

Since I have got on board and accumulated a substantial position in IOIPG, I can only hold on and treat it as a long term investment as I believe the company has bright earnings outlook over the next 3-5 years.

But I will not promote this stock much until I see positive reactions from IOIPG management to address investors' concern.

After all, the stocks I recommend generally will not go up until months later when the earnings start to show up or the management starts to take proactive steps to engage with the investment public. YTL and YTL Power only surged up one year after I initially recommended it in May 2022. IGB only moved up gradually few months after I covered it. BPlant only surged up one year after my initial report when there was indeed a take-over offer for the company. Genting went up some 10% within a month of my initial report but went south after a couple of quarters of weak results, but has since recovered to RM4.80. Aeon did go up some 10% after my initial report but quickly went down due to weak quarterly results and refusal of the then CFO to even listen to my proposal. Now the share price is up back as foreign funds started seeing the potential in AEON, also after the CFO resigned.

3 days ago

dragon328

I will stop here and will only update when there is any new development.

Fellow investors you may just hold on if you have purchased it, otherwise I suggest you fall back to some technical chart guidance before you buy in more.

3 days ago

cantona762

May try Moomoo, company->shareholder->Institutions.
Probably only will be updated month end.
I saw 30 June, Blackrock +5.35M

This one accurate?

3 days ago

Hush77

One thing is the company has too much debt and need to be careful..historically company that take up a lot of debt , might not end well..

1 day ago

bullrun2025

@dragon328, down trend now, are u ok?

9 hours ago

dragon328

@bullrun2025, the selldown is well expected as I explained last week. Foreign funds continued to offload IOIPG shares, with the latest selling of RM8m worth of IOIPG shares last Friday.

The bigger selling today may be due to yesterday news that Biden is pulling out from US presidential election race, and foreign funds are evaluating the potential impact of a Trump re-election.

But the underlying concern on IOIPG is still the lack of proactive actions or any response from IOIPG management to reassure investors of the merits of the Shenton House proposal, as foreign funds typically dislike related party transactions, they will sell IOIPG shares as they have not heard from IOIPG management for almost a month since the announcement of the SHenton House proposal.

8 hours ago

dragon328

I have no feeling on the selling these few days as I am a long term investor.

But as I said, I won't promote this stock until I see positive actions from IOIPG management. Just like the case of AEON Bhd, I didn't bother with the stock until the then CFO resigned and there was a positive change in AEON top management.

8 hours ago

dragon328

Furthermore, with Biden withdrawing from US presidential race, Trump is seen as the likely winner. And he had said before that he would not want to see US Fed to cut interest rates before November presidential election.

Foreign funds are likely to take cautious view of the market and rate cut prospects in September. With the high gearing of IOIPG, many sectors are using this as an excuse to sell IOIPG shares, looking at the slimmer prospects of rate cuts in near term.

8 hours ago

dragon328

With the inaction from IOIPG management to sooth investors' concern, it prompts me to suspect that there is a slim possibility that IOIPG major shareholders are using this related party proposal to force hands of foreign funds and short term funds to sell off their holdings in IOIPG to possibly below RM2.00, then they might launch a privatisation effort to take it private.

The merits of a privatisation are:
1) Low free floats of IOIPG - Lee family holds 65% in IOIPG, EPF holds about 7.3%, foreign funds have about 3-4%, other local funds may have another 5% or less, so free floats are less than 20%. So Lee family might need to fork out about RM2.00 x 20-30% x 5.5b = RM2.2-3.3 billion only to take it private

2) After they took it private, it would be easier to approve the related party proposal on Shenton House

3) IOIPG would be extremely cheap at a target privatisation price of RM2.00, at less than 0.5x book value of RM4.20 and prospective PER of 8x FY2025 earnings and 4.5x FY2026 earnings

4) IOIPG had net debt of about RM14 billion as of 30 June 2023. After IOIPG injects IOICB into a REIT in Singapore, it would take home SGD2.5-3.0 billion of cash. If IOIPG injects its shopping malls and office towers in Malaysia into a commercial REIT, it would take home another RM3.2 billion of cash. When its hotels are injected into another hospitality REIT, it would take home another RM1.3 billion of cash. By setting up the 3 REITs, IOIPG would take home a cool RM14.5 billion of cash, which would enable it to pare down most of the debts and become a net cash company. Not forgetting its vast landbank in Johor which is ready for quick monetisation, but it is holding onto any sale until after the privatisation.

8 hours ago

Jesse1314

Hi dragon,

The possible privatisation scenario is profound. It makes me want to sell-out now to prevent further losses😥

7 hours ago

dragon328

@Jesse1314, yes I have similar bad feeling about it, but I still think IOIPG major shareholders will do the right things and not jeopardize minority shareholders' interests.

5 hours ago

dragon328

@Jesse1314, I have similar bad feeling about it, but still believe IOIPG major shareholders will do the right things not jeopardizing minority shareholders' interests.

4 hours ago