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!

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!

[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!

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

Haha no worries man!

In fact, appreciate your opinion here, giving me different insights on Ivory!

Btw, the situation is not that bad, it is improving! Let's wait for its quarter result

I Penang lang, must support suport a bit.. haha just joking

I took profit this morning as well and let my profit roll in AFG