Someone posted today about a proposed UOA Group IPO to take place soon.

We already have their REIT to invest in - which has not performed particularly well.

UOA Group is run and controlled by the (Singaporean) Kong family - headed by C.S. Kong together with his two daughters and a son.

Singaporean Cecelia Chan is the Property Director. She is well known in the developer world in KL - for various reasons...

The word is they are in the process of cleaning up their "story" in preparation for a listing and that CIMB will be the lead IB.

Any views on this "Chinaman" company and their chances for a successful IPO?

This post has been edited by David_Brent: Oct 14 2011, 06:18 PM

Thanks so much, mate!

Will check out the docs...may be a good punt.

I am quite familiar with this company's senior management (the Kong family and Ms. Chan) over a few years and so I will be very interested when their prospectus comes out to see how they present themselves to the market. Kong is an engineer and not a sales or marketing guy - and his kids...well....you know how it goes with most 'successful' men's kids......

Their property director is notorious in the KL property business; nearly all her staff leave within 90 days of joining and aparently she refuses to use a computer or read email!

They have quite a big following by property investors on LYN already though: http://forum.lowyat.net/topic/1584595

The thread is big and shows there are a lot of pissed-off buyers for their latest project.

Their Camellia project at 'Bangsar South' is not doing very well. They call it "Bangsar South" - but it is actually 'Brickfields North' (Kerinchi). Binjai 8 is not yet sold. I hear that the Sphere is to be demolished and they will start again due to design faults.

Think they have a bit of "window dressing/sweeping-under-the-carpet/base-covering" to do before they finally list!

Nothing unusual in that though! Let's see their numbers and the analysis.



This post has been edited by David_Brent: Mar 22 2011, 03:20 AM

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

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.

As Mark Twain said 150 years ago:

"Buy land - they don't make it any more"

UOA wage slave spotted!
Must have been made to stay behind by C S Kong to write this drivel.....as it is well known Kong's black face after bell-ringing on June 8th when he saw this over-priced junk going south....

It is so obvious from his comments that this NUMPTY is in the pay of UOA or its IBs....

They will manipulate the price as long as they can ....

I would agree with that.
The numbers in their 500++ page IPO document just don't stack up.
Plus - I have some direct experience with the people behind this operation - and it isn't anyone whose name has appeared in the press or TV or radio.

People who are terrified of their customers, their shareholders or who hide behind 'front-men' should never be trusted to run an ice-cream stall, let alone a publicly-listed company.

Zamans is right - this is mainly an exercise by the banks to get their cash back - quick!!

Busy guy!
Eugene will be pleased!

It's Mr. Eugene actually!