Yeah O&G my next target......looking to go back to SIGGAS again...

Time to get out of this stock if you are still holding it. Fund managers are beginning to feel disillusioned about this stock and serious questions are being asked. I am not going to dwell any deeper but time will tell whether I am correct or not.

Sure or not? It is very bottom already. But it break the resistance at 1.00 few days ago so you may be right it can go further south

This has nothing to do with technical analysis. It has everything to do with the fundamentals of the company which are being questioned. It may go back to 1.00 again in the short term with the necessary support(a bit evident in the last 2 or 3 days) but it wont stay there for long. Its the investor's call at the end of the day.

Sure boh, got anything to support your theory? I hope you are very wrong I see the potential for this company on many projects at Penang but again this company is still very young for me to calculate the intrinsic value. Kind of gambling on this company sigh....

any updated news from ivory..

I am indifferent about whether people said I am correct or wrong. It is the individual's perogative. At the end of the day, it depends on how you define many. However, you may want to ask yourself these questions

(a) How many projects are still on the drawing board?
(b) Does the company have the capability to undertake that many projects simaltanoesly. Having a look at the gearing may be helpful.
© What's the take up of the projects?Penang Times Square is the most overt answer.

Finally, there is no thing that no one can dispute.

Leverage + negative cash flow = Catastrophe

Mr Buffet once said in a letter to his investors.I have a copy of that. "Leverage is a good way to get very poor".

Yeah Warren Buffet also say the three rules "Never lose your money x 3" Buy stocks that have high intrinsic value bla bla bla but that if we go for value investing. Those value stocks hardly move and super expensive. Until today I have yet to find a value stock that is cheap and give good regular movement. Out of the 7 or 9 - forgot of the criteria of value investing I still cannot find one stock that fulfill all criterias.

Well, I do agree with u about the gearing of Ivory is not promising bet heck, BURSA stock go up due to news not fundamental!! TA is like 50-50 so unless you are expert in TA else it is diffciult to catch the right one.

my fren work at ivory... she said their company now want to buy land for project development...

and some of their project still under construction...

maybe need to hold long time.. I also buy few at 0.98 today..

hope the next quarter report is good.

20% of my portfolio is made up of this counter! ABP 1.03... hope it turns out good... fundamental wise is above the average, at its current price, it is undervalue, one of the lowest PE ratio in property counters.

You may keep an eye on Tambun, it is under my watchlist!

ivory is good to hold for long term.. price is still stable and linger around rm1

When the property theme, I hope it can surge to at least 1.30

If not mistaken, I read somewhere it forum, saying the TP of Ivory is 1.60 by a foreign research house. It is good if someone could confirm this!

may be another E&O . watching dis stock quite sometime.. hven decide to go in stil. =p

[quote=wan7075,May 13 2011, 05:19 PM]
my fren work at ivory... she said their company now want to buy land for project development...

and some of their project still under construction...

maybe need to hold long time.. I also buy few at 0.98 today..

hope the next quarter report is good.

[/qu

I like that statement. "Want to buy land for project development". There must be something inherently wrong with a developer that does not "want to buy land for project development". Come on, most developments have no recurring income and developers have people on their payroll to feed. The single digit P/E ratio sounds terrific on paper but P/E is historical information unless you have enough information to work out their forward P/E. Historical P/E can be dangerous

" I like that statement. "Want to buy land for project development". There must be something inherently wrong with a developer that does not "want to buy land for project development". Come on, most developments have no recurring income and developers have people on their payroll to feed. The single digit P/E ratio sounds terrific on paper but P/E is historical information unless you have enough information to work out their forward P/E. Historical P/E can be dangerous

[/quote] "

Ya I agree with you that it is quite risky to buy shares basing on historic PE, without knowing the future prospect of a company or the industry per se.

Sometimes back some rubber glove stocks had very good historical PE and investors just jumped on board, though the threats from the oversupply of gloves and high material costs were on the horizon ( at that time )

It looks very suspicious to me too that this company is still trading around IPO price almost one year after listing, though the property market is doing extremely well.



There is always a mass dilution of shares from the IPO, and hence the company profit must go up to make it attractive.

But this company is earning 22sen eps over Price of rm one , sounds attractive.

What actually went wrong



This post has been edited by SKY 1809: May 14 2011, 10:31 AM

[quote=SKY 1809,May 14 2011, 09:58 AM]
" I like that statement. "Want to buy land for project development". There must be something inherently wrong with a developer that does not "want to buy land for project development". Come on, most developments have no recurring income and developers have people on their payroll to feed. The single digit P/E ratio sounds terrific on paper but P/E is historical information unless you have enough information to work out their forward P/E. Historical P/E can be dangerous

[/quote] "

Ya I agree with you that it is quite risky to buy shares basing on historic PE, without knowing the future prospect of a company or the industry per se.

Sometimes back some rubber glove stocks had very good historical PE and investors just jumped on board, though the threats from the oversupply of gloves and high material costs were on the horizon ( at that time )

It looks very suspicious to me too that this company is still trading around IPO price almost one year after listing, though the property market is doing extremely well.
There is always a mass dilution of shares from the IPO, and hence the company profit must go up to make it attractive.

But this company is earning 22sen eps over Price of rm one , sounds attractive.

What actually went wrong

[/quote]

If you found out, please share here!

Are you holding this counter? I am holding a substantial amount of Ivory... and I have faith in this counter, just a matter of timing!

Btw, I am quite confused over your saying, "But this company is earning 22sen eps over Price of rm one , sounds attractive." What is the logic behind, if that is the case, then Tambun is even more attractive! 98sen eps over at the price of less than RM 1.00. Thanks for your explaination!

[quote=Larrylow,May 14 2011, 10:55 AM]
"

Ya I agree with you that it is quite risky to buy shares basing on historic PE, without knowing the future prospect of a company or the industry per se.

Sometimes back some rubber glove stocks had very good historical PE and investors just jumped on board, though the threats from the oversupply of gloves and high material costs were on the horizon ( at that time )

It looks very suspicious to me too that this company is still trading around IPO price almost one year after listing, though the property market is doing extremely well.
There is always a mass dilution of shares from the IPO, and hence the company profit must go up to make it attractive.

But this company is earning 22sen eps over Price of rm one , sounds attractive.

What actually went wrong

[/quote]

If you found out, please share here!

Are you holding this counter? I am holding a substantial amount of Ivory... and I have faith in this counter, just a matter of timing!

Btw, I am quite confused over your saying, "But this company is earning 22sen eps over Price of rm one , sounds attractive." What is the logic behind, if that is the case, then Tambun is even more attractive! 98sen eps over at the price of less than RM 1.00. Thanks for your explaination!

[/quote]

Tambun 98sen eps somehow not factored with the shares issued during the IPO, I suspect. I do not know how exactly Bursa use the info to compute . It is illogical for a listed co to earn 98sen eps.

Ivory does have post IPO results, so easy to compute . The post IPO results are more ( close to real situation ).

But investors need to be careful about prop stocks.

1) If they do very good sales now, accounts may not be instantly impacted, they still need to build to capture profit.
2) The good results reported could be some good sales pre IPO, subsequently co goes downhill.


Hope not to confuse you.

Your suspicious is very justifiable.
You are not from Penang I take it?

No, I am from Selangor.

But I guess Tambun has better prospect than Ivory. I did a bit of research on Tambun. none on Ivory.

Correct me if I am wrong

This post has been edited by SKY 1809: May 14 2011, 11:30 AM

I am from Penang, but haven't be back there for a very long time... from what I heard, the Time Square in Penang is not doing well, many vacant shoplots....

I take this into consideration before jumping in but I think it is just a minor problem, as most of the shoplots are sold, which mean Ivory has reaped benefit.... thought it is still vacant Then, there are many attractive projects under Ivory.... so I guess it should't be a problem!!


This what I think la... maybe wrong

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Added on May 14, 2011, 11:31 amTambun is attractive because of the dividend payout policy

This post has been edited by Larrylow: May 14 2011, 11:31 AM