potential counter ? anybody looking in this counter ???

slow! majority property/construction counter are slow. good to enter below 2.10 and dump after 2.20

IJM Land: Second wave of NAV expansion

IJM Land
(Oct 14, RM2.68)
Maintain buy with fair value at RM3.88: We raise our fair value from RM3.60 per share to RM3.88 based on an unchanged 10% discount to our revised fully-diluted (FD) NAV of RM4.31 per share, which takes into account an estimated accretion of 31 sen per share (50% stake) from the acquisition of 2,000 acres of land at Canal City (GDV: RM6.5 billion).

The acquisition price of about RM5 psf is very attractive. Payment will be staggered over four years.

The maiden launch is expected to be in 4Q11.

The deal will give it a strong foothold in the lucrative township development in the Klang Valley.

The recent tender by the Penang government for 93 acres at Bayan Mutiara for RM200 psf may establish a new benchmark price for seafront land.

This may lead to a repricing of implied land values at Phase II (103 acres) of The Light, which should cost less than RM50 psf to reclaim.

The imminent debut of Light Collections II (GDV: RM260 million) next month is highly anticipated.

IJM Land is actively negotiating with anchor investors to pre-commit on its highly sought-after waterfront retail mall (GFA: 1.0msf) at Phase II.

Presales in the first six months of this fiscal year have reached RM900 million.

IJM Land looks likely to surpass its presales guidance of RM1.2 billion given its presales pipeline of a further RM700 million until end-FY11F. Unbilled sales now stand at RM1.1 billion.


This article appeared in The Edge Financial Daily, October 15, 2010.

http://www.ijm.com/v2/ijml/what.htm

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Added on October 27, 2010, 11:04 amMARKET PRICE NOW IS ONLY RM2.76. Its warant at RM1.36 only conversion rm1.35, is below the mother share price. THERE IS ALOT OF ROOM TO MOVE TO ITS FAIR VALUE PRICE.

IT IS A GOOD SHARE TO HOLD IN THE LONG RUN. MOVING UP LITTLE BY LITTLE EACH DAY.

IJM GROUP IS VERY STABLE AND THE CEO DO ALWAYS TAKE CARE OF THE STAFF BENEFIT VERY WELL. ALL STAFF WORKING THERE HOLD ESOS FROM BOTTOM TO TOP MANAGEMENT ARE ALL MILLIONAIRES. TOGETHER FATT CONCEPT

monitor and see and will know how good it it.

This post has been edited by lowyat888: Oct 27 2010, 12:36 PM

Agreed, this counter is in right rally

ijm land is rising each day

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Added on November 23, 2010, 12:20 pmIJM Land and MRCB shares suspended, they are to announce potential corporate exercise today
By ANGIE NG
angie@thestar.com.my

PETALING JAYA: Market talk of a potential merger, or takeover, involving IJM Land Bhd and Malaysian Resources Corp Bhd (MRCB) has intensified with the suspension of the shares of IJM Land, its parent IJM Corp Bhd and MRCB since 9am yesterday pending a material announcement on a potential corporate exercise.

The companies are expected to announce details of the corporate exercise later today.

An analyst with a local research house said there was room for consolidation in the local property sector to make way for more competitive and bigger entities in the likes of their better capitalised counterparts in Singapore.

There are various possibilities how the exercise will be carried out. One involves the merger of IJM Land and MRCB into a new entity and the other is via the takeover route, he told StarBiz yesterday.
An artist’s impression of IJM Land’s RM4.3bil The Light Waterfront phase two project.

He said the rationale for a merger or takeover was for both parties to leverage on each other's strengths and synergies going forward.

With the Employees Provident Fund (EPF) having close to a 42% stake in MRCB, he said there was value in MRCB due to its expected involvement or major role in the redevelopment of the Government's land in Sungai Buloh, and a possible strong uplift to the construction order book from the rollout of the 10th Malaysia Plan projects.

Another analyst said while MRCB had proven itself in commercial development, especially the award-winning KL Sentral development, its track record in residential development has not been significant.

IJM Land, with its good track record in residential projects and township development, will be a good match for MRCB as its expertise will be most valuable to the enlarged group's expanded landbank, he said.

Strong brand

The property development arm of IJM Corp has the advantage of a strong brand and is a trusted developer of quality niche properties and new townships.

It is well regarded for its township building expertise as well as expertise in building medium to high-end residences and commercial projects.

Among its flagship projects are The Light Waterfront project in Penang as well as the Seremban 2 and Shah Alam 2 townships.

The analyst said MRCB's advantage of being one of the frontrunners for the redevelopment of the Sungei Buloh land could be the main impetus for the coming together of both companies.

We believe MRCB has been helping the EPF in drawing up the masterplan for the 3,300 acres in Sungei Buloh. However, details on the plot ratio, size of initial development, and other issues are not available as yet. But we understand that the Government is expected to announce the award and details by the first quarter of 2011, he added.

The Government and the EPF will form a joint venture to promote the development of the Sungei Buloh land into a new hub for the Klang Valley. The land is believed to have a gross development value (GDV) of RM10bil.

KL Sentral's development is also progressing well with over RM4bil of GDV having been completed. MRCB, together with its partners, are undertaking RM4.3bil worth of development, to be completed mostly in 2012.

Most of the development centres on Lot G, comprising two office towers, one retail mall and a hotel, with a gross floor area of about three million sq ft. The retail mall, to be called Nu Sentral Mall, will be kept for rental income. Two more properties KL Sentral Park and 348 Sentral (office and apartments) would also be injected into its property investment units for rental income. We understand that about 53% of tenants have been secured for KL Sentral Park and Shell would be taking up office space at 348 Sentral, the analyst said.

He said there would be about RM6bil worth of GDV remaining for development in KL Sentral with construction to start mostly in 2011 and 2012.

This development would include office suites (Lot B), office towers, St Regis Hotel/Residences, and a luxury high-rise development (joint venture with CapitaLand and Quill).

The analyst said MRCB was targeting at least RM1bil of new jobs next year. Among others, it is eyeing some portion of the civil works for the RM43bil MRT project proposed by MMC Corp Bhd and Gamuda Bhd.

The group is also expecting renewals to environmental projects, including the Sungai Pahang rehabilitation project, which is valued at about RM200mil. It is also looking at RM300mil to RM400mil worth of new transmission jobs from Sabah and Sarawak, he said.


http://biz.thestar.com.my/news/story.asp?f...57&sec=business

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Added on November 24, 2010, 9:52 amIJM Land to merge with MRCB in share-swap deal
By SHARIDAN M. ALI
sharidan@thestar.com.my

KUALA LUMPUR: IJM Land Bhd and Malaysian Resources Corp Bhd (MRCB) plan to merge via a share swap in a newly incorporated company that is slated to emerge as the nation's second-largest property developer.

Yesterday the two companies signed a memorandum of understanding (MoU) and planned to come up with a definite agreement within three weeks.

The merger will involve a share-swap whereby the shares of IJM Land and MRCB will be exchanged for shares in the new company.

The exchange price per IJM Land share is RM3.65 and RM2.30 per MRCB share. This will translate into a premium of 27.5% and 10.2% for IJM Land and MRCB respectively to the five-day volume weighted average market price.
From left: MRCB CFO Chong Chin Ann, CEO Mohamed Razeek Hussain, IJM Land MD Datuk Soam Heng Choon and chairman Datuk Krishnan Tan at the MoU signing on Tuesday.

Post merger, IJM Land and MRCB plan not to maintain their listing status and the new company will take over their listing status by June 2011. IJM Land's market capitalisation is currently at RM3.4bil while MRCB's is about RM3bil.

MRCB CEO Mohamed Razeek Hussain said the MoU was only the first step of the merger where they would reveal further details of the agreement, such as shareholding structure and share swap ratio for the merger, in three weeks' time.

But because of rife speculation of the merger in the media, we think it will be fair to announce that both companies are in discussion and have signed an MoU pursuant to the merger. We are not ready to give the plethora of arrangement just as yet, he said after the MoU signing yesterday.

Meanwhile, IJM Land chairman Datuk Krishnan Tan said the two companies complement each other via the merger.

It's a merger between businesses, people and branding to take both companies to the next level. It's a good marriage, he said.

MRCB specialises in high-rise development office and condominiums while IJM Land projects are slanted towards mass township of mixed developments.

According to a presentation revealing some preliminary details of the merger, the new company is anticipated to be a mega-size property developer with implied market valuation of RM7bil, combined annual revenue of RM2bil and net asset of RM3bil, landbank in excess of 9,000 acres and increase in geographical presence.

AmResearch said the merger between MRCB and IJM Land made sense.

IJM Land could leverage on MRCB's advantage in Sungai Buloh land. MRCB has been assisting the EPF in drawing up the masterplan for the redevelopment of the RRI (Rubber Research Institute) land (in Sungai Buloh).

The research house added that IJM Land would bring expertise and a strong track record to the partnership as MRCB lacked experience in township development.

Separately, OSK Research said the merger would boost synergy and economies of scale. We believe the combined entity will stand a strong chance of being appointed the master developer of the prized piece of federal land at RRI.

However, Krishnan said the purpose of the merger was beyond any specific project and was more towards complementing each other and to be more competitive.

MRCB's largest shareholder is the EPF while IJM Land is a unit of IJM Corp Bhd, a construction and plantation group.

On Nov 4, UEM Land Holdings Bhd made a RM1.4bil takeover offer for Sunrise Bhd that would make it the largest developer of the country.

IJM Land, in its filing to Bursa Malaysia, said its net profit fell by 19.4% to RM30mil for its second quarter ended Sept 30 from a year ago. Revenue for the quarter under review also fell by 30% to RM212.9mil.

The decrease in both revenue and net profit for the quarter was due to strong take-up rate achieved in the preceding quarter for Lot 28 in Penang and sale of units (Platino and Summer Place in Penang) previously reserved for bumiputra being offered to the public.

However, cumulatively, for first six months of the current financial year, IJM Land saw its net profit surged by 30.8% year-on-year on the back of RM577.9mil of revenue.


http://biz.thestar.com.my/news/story.asp?f...41&sec=business

This post has been edited by lowyat888: Nov 24 2010, 09:52 AM

time to collect more

Donno why the merging exchange price is 3.65 but the price stil droping today until 3.09..?

majority of the shares drop today due to the war between north n south korea. when drop it is an good opportunity to buy more bcos investor do panic here n there. good opportunity does not always come around and investing in a very good company.

To be realistic there will be no war just scaring each other. it will be no good for the country and difficult time for people of country there.

need to think wisely it is worth it to have war.

if war do persist anything also no value, cash, property,shares etc.

This post has been edited by lowyat888: Nov 26 2010, 06:49 PM

If the deal is on, it will appreciate to the indicative value. This is also provided the price of MRCB is sustainable.

Any sifu can give any comment on this price adjustment? Does it mean when they merge they will return cash bank of the merger price of 3.58?

Conversion Rate : 3 to 1
Exercise Price = 2.2

X*3 +2.2 = 3.58
X*3 = 1.38
X= = 0.46

Does that mean they will cash back IJMLAND-CA on 0.46 ( Increase of 0.16 from current 0.3 which is about 50% increase)






JMLAND-CA - General Announcement
Announcement Type: General Announcement
Submitting Merchant Bank: AMINVESTMENT BANK BERHAD
Name: IJMLAND-CA: CW IJM LAND BERHAD (AM)
Stock Name: IJMLAND-CA
Date Announced: 26/11/2010

Announcement Detail:
Type: Announcement

Subject: AMINVESTMENT BANK BERHAD ("AMINVESTMENT BANK")

ADJUSTMENT TO THE TERMS AND CONDITIONS OF THE EUROPEAN STYLE CASH-SETTLED CALL WARRANTS OVER ORDINARY SHARES OF IJM LAND BERHAD ("IJMLAND") ("IJMLAND-CA") PURSUANT TO THE MEMORANDUM OF UNDERSTANDING ON THE PROPOSED MERGER BETWEEN MALAYSIA RESOURCES CORPORATION BERHAD AND IJMLAND BY WAY OF A MEMBERS' SCHEME OF ARRANGEMENT UNDER SECTION 176 OF THE COMPANIES ACT, 1965 VIA A NEWLY INCORPORATED COMPANY ("PROPOSED MERGER")

Contents: We refer to the announcement by IJMLAND dated 23 November 2010 in relation to the Proposed Merger.

In accordance with the Deed Poll dated 8 July 2009, the terms and conditions of IJMLAND-CA will be adjusted accordingly in the event the Proposed Merger is implemented ("Adjustments").

Further announcement in relation to the Adjustments will be made in due course when more information on the Proposed Merger is announced by IJMLAND.

This announcement is dated 26 November 2010.

before the deal ijmland as below

Maintain buy with fair value at RM3.88: We raise our fair value from RM3.60 per share to RM3.88 based on an unchanged 10% discount to our revised fully-diluted (FD) NAV of RM4.31 per share, which takes into account an estimated accretion of 31 sen per share (50% stake) from the acquisition of 2,000 acres of land at Canal City (GDV: RM6.5 billion).

even if the deal is not on, the fair value is even higher. +- ijmland is still a good buy. with or without the deal, ijmland share price should be higher. Directors is holding so much share also not afraid. very confident in data krishnan tan management, very sharp and have very good vision and do care for its staff benefit. all staff in IJM group are millionaires

ijm group is worth buying, as long as dato krishnan tan is monitoring the whole group and being promoted to Executive Deputy Chairman .

Details of any interest in the securities of the listed issuer or its subsidiaries :

1) IJM Corporation Berhad - 2,449,180 Shares (Direct), 1,095,136 Shares (Indirect), 1,274,348 Warrants (Direct) and 613,800 Warrants (Indirect);
2) IJM Land Berhad - 20,000 Shares (Indirect), 1,248,610 Warrants (Direct) and 123,900 Warrants (Indirect); and
3) IJM Plantations Berhad - 646,000 Shares (Direct), 429,982 Shares (Indirect), 70,060 Warrants (Direct) and 51,051 Warrants (Indirect)

Remarks
Dato' Tan will be stepping down as the Chief Executive Officer & Managing Director on 31 December 2010 and redesignated as Executive Deputy Chairman of the Company with effect from 1 January 2011.

This post has been edited by lowyat888: Nov 29 2010, 12:18 PM

My IJM shares will be converted to new merged companies?

Nothing doing with IJM shares.

only IJMLAND SHARES WILL BE CONVERTED TO NEW NEWCO COMPANY

IJMLAND WARANT
http://biz.thestar.com.my/news/story.asp?f...59&sec=business

This post has been edited by lowyat888: Nov 29 2010, 07:34 PM

IJMLAND have very good potential and the management their is good indeed

Looks bad from the latest news outcome.

http://www.btimes.com.my/Current_News/BTIM...124053/Article/

http://www.bernama.com/bernama/v5/newsbusiness.php?id=553316

IJM LAND IS WORTH MORE THAN THE VALUE NOT TO SAY JUST BECAUSE THE DEAL IS OFF THEN THE COMPANY IS USELESS. IJMLAND MANAGEMENT WANTS WHAT IS BEST FOR ITS COMPANIES.

THE TERM AND CONDITION IS DUE TO WHO SITS IN THE NEW COMPANY AND THE PRICE TO CONVERT BOTH PARTIES DO NOT AGREE. TOO SCARCE OR DIVERSITY A COMPANY IS DIFFICULT TO MANAGE AND CONTROL.

BETTER FOR IJM LAND TO MANAGE BACK ITS COMPANY DUE TO ITS CAPABILITIES IN ITS MANAGEMENT TO BRING THE COMPANY FURTHER FORWARD/AHEAD AND DONT MERGE IF GOT NO GOODIES FOR THEM. ON ITS OWN ITS MUCH BETTER. NOT TO INVOLVE TO MANY PARTIES AND MAN POWER.

JUST LOOK AT IJM CORP, SHARE PRICE GOING UP STEP BY STEP AND MORE PROJECTS ARE COMING OVER THE BOOK VALUE. THERE MANAGEMENT IS VERY GOOD INDEED.

This post has been edited by lowyat888: Dec 30 2010, 01:51 PM

True.

IJM and MRCB is of different level..

Hopefully will go up ...as I bought and average the price at 1.650 warrant

Sure will...not to worry....see how next year~

If IJM/MRCB merger fails, which company will be in line to have the merger with MRCB?

Could it be SP Setia looking at how it's price inching up for the last 1 week?

It should be noted that IJMLand itself would be better off without going through the merger with MRCB because its valuations would otherwise be severely diluted by the injection of low-yielding assets from MRCB into the enlarged company.

Consider this: IJM Land trades at a forward PE of 11x, and a steep 34% discount to our fully-diluted NAV of RM4.31/share. And, it is growing its earnings by a robust CAGR of 50% over FY11F-FY13F. In contrast, MRCB's earnings story lacks conviction as it is already trading at a steep forward consensus multiple of 36x and at only a 15% discount to our NAV of RM2.41/share.

We cannot see how the enlarged property entity would offer compelling earnings as well as a valuation story in the near term, without the transfer of low-yielding assets out of the enlarged entity. The latter exercise was to have taken place post-merger.

---

Added on December 30, 2010, 3:47 pmIJM DIRECTORS SHOULD HAVE KNOWN BEFORE HAND THAT THE MERGER IS OFF BUT THEY DID NOT SELL THEIR SHARES MEANS THE SHARES WILL GO HIGHER IN THE NEAR FUTURE OR BETTER MERGER/ PRIVATISATION ETC

IMPORTANT THING IT IS A GOOD COMPANY AND MANAGEMENT

This post has been edited by lowyat888: Dec 30 2010, 03:49 PM

u seems fully supporting IJM..haha..good....~~~~

KNOW THEIR MANAGEMENT CEO, CHAIRMAN & DIRECTORS VERY WELL.

I pretty agreed on IJMLAND is a great company with many prospect especially in Penang state, the failure on the merging with MRCB have given IJMLAND not seating into no.2 in M'sia, that's might be little sour as it imply capital and landbank size of IJMLAND might not competitive to others which getting bigger from M&A exercise.

Don't get me wrong and i still optimistic and might even top up IJMLAND if the price is right, we hardly see a jewel like this however it is undeniable at the bad timing and people might in panic sell mood, is that an oppty to collect more instead ?

In fact, I'm looking at down side of MRCB instead since it miss out the chance of riding on lion

This post has been edited by officeBoy: Dec 30 2010, 05:44 PM

actually your facts is wrong, ijmland is riding on mrcb potential; a glc
top up ?? bad move, catching falling knife, getting emotional !!
a jewel ? how come it trade at around 1.50 & not at 3+ prior to rumours of merger.
ijmland earnings isn't apealing also even at 2.50
eps q1 4.85, q2 2.72....going down hill... per 20x......really an over price stock
cut & move on.

slts: I disagree with you.

IJM / IJMLAND are managed by real entrepreneur, while MRCB is really lucky to be "awarded" to develop KL Sentral/Sungai Buloh.

A more appropriate valuation for property company should be its RNAV. Even P/E wise, I do not think MRCB fares any better.

This post has been edited by ljchiun: Dec 30 2010, 10:35 PM

There are pros and cons.. But there is one fact, they broke off before getting married.

Now we usher into a new year, lets see what will the stock price reflects...

your logic is so....not logical. very hard to understand your logic.

Since Ivory only have the property decvelopment in Penang already running at price RM1.06, IJMLand even better compare to it. I believed IJNLand should be better than the others Property share too.

Logically I agreed with others forumer as IJMLand are better than MRCB too. I am wondering why IJMLand want to merge with MRCB, it can choose the others that having better portfolio.

I thought read thru the article said the IJM has been awarded a project in TTDI by Naza recently?

The share price always like this, once the merge or take over deal cant make it, ppl throw the share, the price will go sharply down, it should be able to pull back at the comfort level once the selling pressure gone. Those affected will be those share that happen to be on T3 or T4 due on yesterday.

Just my 2cents thought, i could be wrong.

Happy new year!

Want to know, how to calculate the execise price for IJMLAND-CA?
The last dated will be on 03/01/11. suppose the 5 days weighted adverage will be 27/12/10 to 31/12/10. But yesterday the IJM share has been stop & today is holiday.
Anyone know how the calculation? Thanks

This post has been edited by zmsoon: Dec 31 2010, 07:47 PM

Why must it be an average of 5 days?

Shouldnt it be (Warrant price x warrant ratio) + Strike price?

actually both are good companies in a their own way. MRCB is pure GLC which rely heavily on gov to feed them with projects .eg kl sentral/sg buloh and some highways concessionaire. Whereas IJMland is purely a company that based on merit, good quality, ontime delivery and ultra strict management.

suddenly found out , dis was my post LOL

too bad no cash to enter ..... wait other chance bah

agreeed~~~

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Added on January 3, 2011, 3:05 pmsomeone said...good news soon.....increase now.....tambah stock lor~~~~

This post has been edited by kennethlwc: Jan 3 2011, 03:05 PM

MRCB-IJM Land merger aborted ‘over CEO choice’

Source says breakdown of MRCB-IJM Land talks purely management related

PETALING JAYA: The inability of Malaysian Resources Corp Bhd (MRCB) and IJM Land Bhd to come to an agreement over who will lead the new entity is the cause of the merger between the two property firms being called off.

A source confirmed this to StarBiz yesterday following both companies' announcements to Bursa Malaysia last Thursday that the merger was aborted as they were unable to reach an agreement on the definitive terms and conditions of the proposed merger, following a series of discussions.

“The breakdown in talks is purely management related essentialy on the leadership of the new entity,” the source said.

He said there was a difference in opinion on whether MRCB chief executive officer (CEO) Mohamed Razeek Hussain or IJM Land CEO-cum-managing director Datuk Soam Heng Choon should lead the new entity.

“No one could agree on this fundamental issue,” he said.

According to sources, the Employees Provident Fund (EPF) abstained from the discussion due to the fund's stakes in IJM Corp Bhd (16.91% single-largest shareholder), IJM Land (5.77%) and MRCB (41.95%).

IJM Corp held a 62.76% stake in IJM Land.

Shares of IJM Corp, IJM Land and MRCB fell yesterday at the opening after being requoted following their suspension at midday last Thursday.

At the close, IJM Land fell 9 sen to RM2.77, IJM Corp dropped five sen to RM6.18 while MRCB added one sen to RM2.

It was understood that the newco would have stood a better chance at getting major portions of the EPF-led development of the 3,300-acre freehold land owned by the Rubber Research Institute in Sungai Buloh, one of the major projects under the Economic Transformation Programme.

MRCB is currently assisting the fund to masterplan the project and, notwithstanding the deal falling through, should still get portions of the project.

HwangDBS Vickers Research Sdn Bhd analyst Chong Tjen San observed that while it was disappointing that the deal was called off, both companies did not have much to worry about.

“All is not lost although MRCB will have lost the opportunity to leverage on IJM Land's township development expertise. However, MRCB should still be able to win the right to develop a sizable portion of the Sungai Buloh project, particularly the transport hub,” he said.

Chong said a well-run company such as IJM Land also had nothing to worry about. “Although the company stands a better chance in gaining a foothold in the Sungai Buloh project if the merger went through, they've other projects including the Light Waterfront project in Jelutong,” he said.

In fact, analysts were confident that IJM Land should weather the failed merger quite well as besides the RM5.5bil Light Waterfront project spread over 210 acres, the company was also in a 50:50 joint venture with Kumpulan Europlus Bhd to develop the 2,500-acre Canal City project near Kota Kemuning worth an estimated RM6.3bil.

http://biz.thestar.com.my/news/story.asp?f...55&sec=business

bought IJM-WA yesterday. Looking at pre-crash level 4 days back

wrong post


This post has been edited by free_enuf: Jan 4 2011, 06:59 PM

There is a rumour that IJMLand going to privatise after merger called off. IJMLand Directors are accumulating IJMLand shares.

RHB opined that by privatising IJM Land, it might enable the parent to be the component stock of the benchmark FBM KLCI.

IJM Corp will attract more foreign funds being on top 30 list.

What do you think LowYat888?

Another rumour?

The rumour is spreading like bush fire!! But it is a good idea to let IJM Corp on top 30 list. Gamuda just joined top 30 last 2 months. Gamuda shares starts moving lately after coma for many months. See the effect!

Not to worry to much, IJM LAND indeed is a very good shares to buy. A company. Directors is accumulating shares.

longkang again this share. As good as dead-cow.

If longkang a few more times, then i will buy buy buy

already on the board.

something brewing

I bought since last week after the epic crash ... tmrw will be crucial .. if can break RM 3 anything is possible

In before the comeback

IJM Land moves on despite merger failure
By ANGIE NG
angie@thestar.com.my

PETALING JAYA: It is business as usual at IJM Land Bhd after a proposed merger between the company and Malaysian Resources Corp Bhd (MRCB) fell through due to their failure to reach an agreement on the definitive terms and conditions of the plan.

IJM Land managing director Datuk Soam Heng Choon said the developer had a lot on its plate, including about 30 existing projects and a number of new developments in the pipeline.

“For financial year 2012, we will be kept busy with RM1.5bil worth of project launches, including two greenfield developments in the Klang Valley and Johor,” Soam told StarBizWeek.

With a land bank of about 5,000 acres, which has a total gross development value (GDV) of some RM18bil, there are good values in IJM Land's assets.

The company launched RM1.3bil worth of projects in the first nine months of the current financial year ending March 31, 2011 (FY2011). Sales for the first six months ended Sept 30, 2010 amounted to RM700mil and analysts said the company was on track to achieve total sales of RM1.4bil for FY2011.

IJM Land turned in record sales of RM1.25bil in FY2010.

For FY2012, its new project portfolio will comprise the 2,000-acre Canal City in Selangor and the 1,188-acre Sebana Cove in Kota Tinggi, Johor. Soam said the Canal City was earmarked for launch in the second half of 2012. The massive township will have a GDV of RM6bil and will take 10 to 15 years to complete.

Located directly behind the mature Kota Kemuning township, the Canal City will turn IJM Land into one of the leading township developers in the Klang Valley. The company is now sorting out some land and project planning matters with the Selangor Government.

An earlier agreement with the previous state government involved a flood-mitigation project in the form of an 18km canal linking Sungai Klang and Sungai Langat. In return, the company will be awarded the land for development.

However, the new state government has decided that there was no need for the flood mitigation project. Therefore, in August last year, IJM Land signed a termination agreement for the canal privatisation project.

As for Sebana Cove, Soam said planning was in progress to develop the 1,188-acre land into an upmarket eco-friendly and health-cum-lifestyle themed residential and marina resort development. The 10-year project is expected to be launched later this year.

Soam said IJM Land also planned to launch its maiden 7-acre project in Vietnam in March or April.

The development comprising four blocks of high-rise residential apartments as well as retail and commercial properties is in Nhon Trach city centre in Dong Nai province.

In China, IJM Land plans to undertake a RM500mil upmarket residential and retail development in Changchun, the capital city of Jilin province in the northeast of China.

Locally, the company is busy with its flagship waterfront development, The Light, featuring residential, entertainment, business and hospitality facilities in Penang. With a GDV of close to RM6bil, the 152-acre mixed residential and commercial development is the largest (in terms of development value) in IJM Land's portfolio. It will take 12 to 15 years to complete.

Under The Light Collection III, new launches will comprise condominiums and water villas priced from RM1,252 per sq ft.

IJM Land also has new project launches in Shah Alam, Seremban, Malacca, Kota Kinabalu, Sandakan and Kuching.

http://biz.thestar.com.my/news/story.asp?f...32&sec=business

Soon it will be IJMLand's turn to shine. TP3.88 unchanged.

I'm holding a little post-merger failure crash.

IJM Land’s big plans for 2011

PETALING JAYA: The ending of the proposed merger between IJM Land Bhd and Malaysian Resources Corp Bhd (MRCB) has come as a disappointment for the former’s shareholders.

URL: http://www.theedgemalaysia.com/highlights/...s-for-2011.html

It will be back soon.

CIMB Research has technical Sell on IJM Land

KUALA LUMPUR: CIMB Equities Research has a technical Sell call on IJM Land Bhd at RM2.75 at which it is trading at a price-to-book value of 1.7 times.

It said on Wednesday, July 13 the recent countertrend rebound may have exhausted. Prices hit a high of RM2.92 on June 20 but the bears have taken over since then.

URL: http://www.theedgemalaysia.com/business/18...n-ijm-land.html

Was suspended together with its parent, IJM for material announcement
Hope IJM offer gud price for IJMLand if privatization takes place

Maybe they offer IJM share for IJM Land current shareholders?

IJM Corp Bhd is mulling over privatising its 64.16 per cent-owned IJM Land Bhd. The move is part of its initiatives to explore long-term strategies to enhance shareholders’ value. “We further advise that the company is contemplating and will continue to evaluate corporate proposals, including the possible privatisation of IJM Land,” it said.

A bit unusual as (a) IJM deny privatization n (b) Both IJM n IJMLand request suspension for wat?

IJM offer RM3.55 to privatize IJMLand via 0.5 shares of IJM (value @ 6.70) plus RM0.20 cash

I will sell tomorow... Wat is d use of exchange share to ijm with px of 6.70???!! Not much capital apreciation with this kind of px...

I rather prefer to get all cash

haha what I say in previous post came true. IJM Land privatization involved paying in IJM shares

anymore insider info that you wanna share with us?

Me 2

no insider news, juz my wild guess