Got any analysis on this IPO not?? based on previous comments, i could see a mix opinion on investing this IPO. Very confuse now

Got some good info about IGB Reit.

According to Henry Butcher, the valuation are as below:-

MidValley Megamall value - RM3, 440,000,000

Associated value of the assets in MidValley Megamall - RM1,582,000

The Gardens Mall value - RM1,160,000,000

The Gardens Mall associated with the value of assets - RM10,977,000

A total of - of RM4,612,559,000

The method of raising funds will be divided into two parts

1) The sale of 3,400,000,000 shares, priced at RM1.25 (3,400,000,000 x RM1.25 = of RM4, 250,000,000)

2) The loan fund-raising RM1,213,000,000

2.1) Fixed rate term facilities (Term Loan) - RM1, 200,000,000 (FRTF five-year loan can be extended for two years. 1st-5th fixed interest rate of 4.4%, 6th-7th year fixed interest rate of 5%)

2.2) Standby revolving credit facilities (Overdraft) - RM20, 000,000 (SRCF seven-year loan, floating interest rate of 0.7%)

(Information from page86)

Purchase Price = (RM3, 440,000,000 + of RM1, 160,000,000) / (1,718,951 sq + 817,053 sq.ft) of RM4, 600,000,000 / 2,536,004 = of RM1, 813.88/sq.

For readers not familiar with the Klang Valley, at RM1, 813.88/sq The price is reasonable, in fact very difficult to estimate. But luckily, the proposal provides other competitor for our reference.

Pavillion KL Mall - RM2, 390/sq.

Sungai Wang Plaza - RM1, 607/sq.

Starhill Gallery - RM1, 607/sq.

Sungai Wang Plaza - RM2, 115/sq.

Lot 10 - RM1, 561/sq.

Sunway Pyramid - RM1, 265/sq.

(Information from page A-10) [nitro page287】

the forecast according to the proposals of RM1.25 price buy IGB Reit

2012 Return rate - 5.1%; PE = 19.61

2013 Return rate - 5.37%; PE = 18.62

(Information from page 119)

About Midvalley Mall

2009 occupancy rate - 100 percent; renewal rate - 81.3% (89.6% of the rentable area)

2010 occupancy rate - 99.9%; renewal rate - 82.6% (92.8% leased area)

2011 occupancy rate - 100 percent; renewal rate - 83.8% (93.1% of the rentable area)

2012 to May, the occupancy rate - 99.8%

(Information from page 64 and 65)

The Gardens Mall

2009 occupancy rate - 96.7%; renewal rate - 37% (67.9% of the rentable area)

2010 occupancy rate - 98.2%; renewal rate - 78.2% (89.1% leased area)

2011 occupancy rate - 99.6%; renewal rate - 71.1% (88.9% of the rentable area)

2012 to May, the occupancy rate - 99.7%

(Information from the page 70 and 71)

Apply few lot just for fun. Get or not I don't care because my focus is on upcoming "big" IPO in sept 2012

Just apply few lot just for fun. Apply astro also just for fun. if you get either one or both be happy lar

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Added on August 27, 2012, 6:44 pmYUP! the next big IPO coming soon

This post has been edited by davinz18: Aug 27 2012, 06:44 PM

Applied few just for fun. Get or not no worries because it's a game & my focus is upcoming astro ipo which some "little bird" say will opened after IGB reit closes the retail application. True or not I'm not sure

That's TOOO MUCH. I'm only small fish investor not like some sifu here

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Added on August 30, 2012, 6:01 pm10 or 11 sept (mon or tues) in your bank account just nice for applying astro ipo (if open on sept 5th onwards)


This post has been edited by davinz18: Aug 30 2012, 06:01 PM

Typically Malaysian style. Always last2 minute to do things. If give 2 week to apply IPO, still got people apply on the closing date and very near to the closing time.

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Added on September 5, 2012, 3:04 pmhow you got private placement

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Added on September 5, 2012, 3:11 pmI also don't like if people knows how much we apply. But got one question. How transparent is the balloting process? How sure there are no interference on who get allocated. Maybe someone with "big cable @ VIP" can manipulate the IPO balloting result. anyone knows


This post has been edited by davinz18: Sep 5 2012, 03:11 PM

Based on the statement issued by MIH, 24,518,556 units are made available to public making total offered to public 58,518,500 from initial 34,000,000. This is much better than I'm expecting that is around 40,000,000 for public retail. The total application for retail public is also much higher at 32,781 application (I thought only around 15 - 20k application only).

I think reit don't have bumi/non-bumi for retail. Only public retail category

Not everyone apply this IPO if you look closely. In previous "Big" IPO like Bumi Armada, Gas M'sia, FGV & IHH, the total application (retail) each company ranges from 45k to 59k. Can't remember where I heard, some people don't like to invest in Reit because it's for the senior investor (auntie/uncle) and not much movement (Which I don't agree with the statement). There are also the 10% tax factor which some investor dislike.

IPO failed. As expected

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Added on September 14, 2012, 3:08 pmAffin Investment Bank initiated coverage on IGB Real Estate Investment Trust (REIT), which is set to be Malaysia’s largest REIT by retail asset value and market capitalization, with a target price of RM1.43 and an "add" recommendation.




This post has been edited by davinz18: Sep 14 2012, 03:08 PM

All about reit dividend yields and others info. Good for new investor.
http://mreit.reitdata.com/

At RM1.39 the dividend yield for FY12 is 4.59% (DPU 6.38) and FY13 4.83% (DPU 6.71)

KrisAssets shareholder would get their IGB Reit share on 19 Oct 2012 Subject to the approval of Bursa Malaysia Depository Sdn Bhd ("Bursa Depository").
EX-date 03/10/2012
Entitlement date 05/10/2012
Entitlement time 04:00:00 PM

http://www.bursamalaysia.com/market/listed...ents/16753?m=ca

I don't think the withholding tax will be eliminated, maybe got chance it reduce to 5%. Anyway just hope for the best.

If go 1.30 sure I buy one

RM1.36

RM1.26 is the right price to buy with expected dividend yield of above 5%

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also some retail reit are overprice, premium are way2 above NAV