Anyone going through the prospectus and doing their research on the family that actually runs this business and how it is allegedly "managed" by them and their cronies wouldn't touch this IPO with a ten foot pole....

.....IMHO

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Added on May 24, 2011, 8:32 pmOii u all laughing at me is it.


Actually I tried to activate my CIMB clicks on last friday but the link for First Time Login for CIMB Clicks was down for a few days until today. I didn't knw how long I need to wait therefore I applied manually on ATM on Monday and managed to send out my application today .



This post has been edited by ahcheap: May 24 2011, 08:32 PM

Duh!

The flying school IPO was worst still. But did flew high on listing day. Why are you so worried?

Not worried old boy!
I'm not buying it.....you are.....!

Think for a quick in/out strategy like yours, you should be fine! No harm in that.

aiyo, dun use the word old boy... sounds like ah pek liao.
Me not holding it long, just a QUICKIE..

If you convert it to rm one par value, the IPO price is rm 58 per share, higher than many Blue Chips.

Kinda Super Blue for a property stock.

Earning per share must be very solid then

Good Luck.

This post has been edited by SKY 1809: May 25 2011, 07:00 AM

anyone can comfirm UOA reits is under this UOA group right? so the value is there .....

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Added on May 25, 2011, 12:34 amYes, UOA Reit and UOA Dev are under the same group.

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Added on May 25, 2011, 12:41 amI'm selective about the IPOs that I apply and I like to browse through the prospectus ..... and I like UOA Dev. Maybe I'll list out the reasons tomorrow. Sleepy now.

This post has been edited by Veda: May 25 2011, 12:44 AM

You are absolutely right! Par Value is more to a reference as most analysts would not comment about it. What most important is that the PE ratio and the EPS of UOA that could have the power to swing the price. Just take a look at Genting Singapore, it has no par value, meaning ZERO par value, but that doesn't mean that the GENS stock is of no value. I read it somewhere before last time that Malaysia will soon move to an exchange without par value because it is irrelevant. We are still practicing it because UK are still practicing them, considering our closed knitted relationship with UK.

This post has been edited by andrewckj: May 25 2011, 12:47 AM

Apply IPO is just like lucky draw!!!!!!

To me applying IPO is like Tikam...use to play 20 sen and now 20k to win

To list such a property stock at the peak of the property market itself is a big doubt.

Do not forget, Asia is facing a real asset bubble burst at any moment. Not too difficult for a prop stock to have reasonable earning at this moment.

It is like many unit trusts want to launch their new funds at the peak of bull market.

Just my view.

This post has been edited by SKY 1809: May 25 2011, 08:25 AM

UOA Development Bhd IPO Target Price Fair Value RM3.45
UOA Development Bhd IPO closing date (Retail Offering 25 May 2011) and (Institutional Offering 26 May 2011).
UOA IPO price RM 2.90.
The UOA Development Retail Price will be fixed at RM2.90 or 97.00% of the Institutional Price, whichever lower, subject to a refund of the difference between the Final Retail Price and RM2.90 per Share.
The Institutional Price is by way of book-building. What is the target or expected institutional strike price or Retail Price? Very hard to say, example Maxis and JCY strike price was at the lower end but Pchem was at higher end.
Issuing house MIH-515 and listing date of UOA Development will be tentatively on 8 June 2011 in Bursa Main Market.
Whether can subscribe or apply UOA Development IPO, let us do a very simple PEGGY Method Evaluation.

PE: PE Ratio
G: Growth
G: Gearing
Y: Yield

Using UOA Development share price or Institutional IPO price of RM3.00.

UOA Development PE ratio is 26.2x (2010 Dec). Growing at 66.1% (2011), 41.3% (2012) and 29.6% (2013). PE ratio will then be 15.8x (2011), 11.2x (2012) and 8.6x (2013).

UOA Development net gearing is fairly high at 55.6%. Post IPO will drop to 4.8% (2011). The UOA Development dividend yield is 2.5% in 2011, and this is based on 40% dividend payout ratio. UOA Development dividend policy is dividend payout of 30% to 50%.

The above figure are by RHB and UOADEV target price fair value is RM3.45, that is at its RNAV per share.

Based on the above figures, UOADEV PE ratio is not cheap. Although it has high growth, at UOADEV share price of RM3.00, this has been factored in. Have to wait two more years then only the PE ratio drop to below 10x. UOADEV dividend yield is just average, although it will grow as the profit grow.

This has confirmed by RHB, where they give a UOADEV IPO stock target price which is only 15% from RM3.00.

I think there are few issues that you need to consider:

1) RM3.00 or RM2.97 is NOT fixed yet.
Although the above PEGGY Figures are not very cheap, but the Retail IPO price is not fixed yet. You may get a lower price and get refund of the difference if they fix the strike price lower. A lower price means UOADEV will have lower PE ratio and higher dividend yield and higher potential share price increase upon listing.

2) IPO year.
So far, Year 2011 is very good year for IPO. The recent few IPOs listing prices were crazily high. This may help UOADEV to trade higher.

3) Top 5 listed property developers stock
Post IPO, UOA Development market capitalization will be in the top 3 or top 5, behind UEM Land, SP Setia and about the same as Suncity-Sunway and IJMLand. Large UOADEV market capitalization will attract more institutional investor and can justify higher PE Ratio or higher price.

4) How RHB get the growth figures?
The growth figures are quite impressive, but how they get it? According to RHB, 2011 profit growth mainly due to the tail-end construction of The Horizon Phase 2, Kepong business Park and Villa Pines. 2012 to 2013 will be (I will post when I got time).

5) Property market Crash?
Many people said property market may crash soon. But I have been hearing that for so many months. I have no idea, up to individuals to judge.

Last day to apply for this IPO, so after all simple above mentioned criteria are you still up for it? Do you plan to hold it for long or go for a quickie? It is all down to your risk appetite.

yeah? U think so? Are you implying that the investment banker is stupid and u're so godly like?

Nobody knew where is the TOP and BOTTOM. If that is so, every1 are rich now.
Even Warren Buffet lost money during the 2007-2009 US crisis.

i have partly agree to say those investment banker is stupid, they are bunch of greedy people
look at those wall street guys, they will take any action to make profit out of it

investment banker duty is just an agent to get company get listed and they get paid from it

100% agree.

Look at Mc cleaner and many others ( MEGB, JCY etc ) , you would know. Even some FF got "trapped ".

I wonder is it common for stocks listed let say in Dow, fall about 50% below their IPOs price in bull market.

It is time for forumers to boycott the IPOs from some of these investment banks, rather than going all the ways to protect them.



Just my view.

This post has been edited by SKY 1809: May 25 2011, 11:00 AM

I will apply UOA.

with EPF as cornerstone investor taking 5% stake..i dont think there are any dramatic 'risk'?

Ohhhh. Now I see what u're tryin to say. Well, can you tell me or us what IB to avoid?

In DOW dropped 50%?

I think you still thinking very negatively. Its all depends on SENTIMENT, price action on the day itself.
Recent mega IPO for example was LINKEDIN CORP - a unprofitable social networking company. IPO 45$, open $84, high $122, current $97. This is purely rubbish compare to UOA, really.

Analysis
Price/Earnings 100.0x
Price/Sales 13.2x
Price/Book 126.7x
Price/Cash Flow 211.7x
TEV/Sales 27.8x

In the end, YOU just put here I DON"T LIKE UOA, they are RUBBISH... Finish story liao... LOL, no need to pour petrol in a burning fire.. it might get to you.

This is how a property stock can manipulate before going for IPO :-

1) use large bank borrowing to aggressively develop and capture good profit in year 2011/2012/13 to show very good growth,( actually giving tail end effects )

2) go for IPO at a very good price using 1) to show supportive good results

3) using IPO ( money from the public ) to pay back bank loans

4) Thereafter in Year 2014, company performance drops drastically. Small investors start to cry while big shots offload their shares long before the arrival of Year 2014.

IB should also play a part on how to maximise these strategies.

Just my view.

This post has been edited by SKY 1809: May 25 2011, 04:30 PM