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Saturday, June 30, 2012

OCK Group Bhd IPO

OCK IPO Share Price RM0.36
Opening of application  29/06/2012

Closing of application   06/07/2012

Balloting of applications   10/07/2012

Allotment of IPO shares to successful applicants  13/07/2012

Tentative listing date 17/07/2012
=============

PUBLIC ISSUE OF 75,000,000 NEW ORDINARY SHARES OF RM0.10 EACH ("OCK SHARES") AT AN ISSUE PRICE OF RM0.36 PER ORDINARY SHARE PAYABLE IN FULL UPON APPLICATION COMPRISING :

- 7,000,000 NEW OCK SHARES MADE AVAILABLE FOR APPLICATION BY THE PUBLIC

- 9,500,000 NEW OCK SHARES MADE AVAILABLE FOR APPLICATION BY OUR ELIGIBLE EMPLOYEES AND PERSONS WHO HAVE CONTRIBUTED TO THE SUCCESS OF OUR GROUP; AND

- 58,500,000 NEW OCK SHARES MADE AVAILABLE FOR PLACEMENT TO SELECTED INVESTORS

IN CONJUNCTION WITH THE LISTING OF OCK GROUP BERHAD ON THE ACE MARKET OF BURSA MALAYSIA SECURITIES BERHAD


=============

Established in 2000, OCK Group is principally involved in the provision of telecommunications network services. We are able to provide full turnkey services in that respect. Our product/service offering comprehensively covers services from all 6 segments of the telecommunications network services market: network planning, design and optimization, network deployment, network operations and maintenance, energy management, infrastructure management, and other professional services.
Source: OCK

==========


OCK Stock code 0172.

OCK Stock name OCK.

ISIN code MYQ0172OO005


Enlarged issued and paid up share capital in the following Units
259,000,000

Sector TRADING/SERVICES
Ace Market


==========

29/06/2012
KUALA LUMPUR: Telecommunications service provider OCK Group Bhd, which is enroute for listing on the ACE market of Bursa Malaysia
Securities, hopes to raise RM27 million through the exercise.
Managing Director Sam Ooi said the proceeds will be utilised mainly for capital and operating expenditure.

"Of the proceeds, 72 per cent will be equally divided for capital and operating expenditure, with 20 per cent will be allocated for working capital.

"The remaining eight per cent is for the listing exercise fee.



"It is our aspiration to upgrade the company from the Ace market to the Main Board, but it depends entirely on performance and sustainability," he told reporters after OCK's prospectus launch, here today.

Ooi said the company, the biggest telecommunications network service provider in Malaysia in terms of revenue, is scheduled to be listed on July 17.

He said the listing would serve as a platform to expand the company to exploit its potential and move its stature in the industry to the next level.

"It also allows OCK to raise capacity and capability to tender for bigger projects, create a stronger company profile and have easier access to the capital market when required.

"Late last year, we secured the Network Facilities Provider licence from the Malaysia Communications and Multimedia Commission. This enables us to build, own and rent our telco towers," he added.

He said moving forward, OCK has laid out plans to venture into the emerging markets, which have strong potential growth in network deployment such as the Phillippines, Thailand, Cambodia, Myanmar and Indonesia.

The company's current order book stands at RM67 million, with about 60 to 70 per cent from the network service deployment business segment. -- BERNAMA

Source: Business Times


====================

OCK sounds like OSK.


For more information on OCK, here.
http://politemarket.blogspot.com/search/label/OCK


For more information on recent IPO, here
http://politemarket.blogspot.com/search/label/IPO


Thanks

Friday, June 29, 2012

BOILERMECH stock price will grow if the profit grow?

BOILERM stock just announced quarterly result. Both YoY and QoQ are good.Using Boilerm share price of RM0.775.


Boilerm PE ratio.
10.4x Financial Year ended 30 April 2012.
OK. But if we use the latest quarter and annualise it, will be 6.2x only. If they can maintain that kind of profit, we may see the PE ratio can easily drop to 8x or 9x only.

Growth?
I can't find any Boilerm analyst research analysis reports. But let us look at what the management said. "Barring any unforeseen circumstances, the Group is confident of achieving a POSITIVE GROWTH for the FYE 30 April 2013."



Gearing.
Not sure, lazy to check.



Yield (Dividend)
Boilerm dividend yield is 3.5%.



Note:
As per 2011 QL annual report, QL holds about 45% in Boilermech.


QL management are very good. For the past 10 years, they managed to increase QL's profit substantially. Hopefully they can do the same for Boilermech Holdings Bhd.



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Thursday, June 28, 2012

FGV Stock Result and Felda share stock code is 5222

Here are the result of Felda Global Ventures FGV stock:

FGV share price Opened at RM5.39, above IPO price.
The stock price closed at RM5.30, below Opened price.
The Final institutional price is RM4.55 and the final retail price is RM4.45.



Friend A
Opening RM5.00 (1 point, 1 point)
Closing RM4.80 (minus 1 point, minus 2 points)
Net Total: Minus 1 points

Grand Total after two rounds of IPO: Minus 2 points


Friend B
Opening RM5.30 (1 point, 2 points)
Closing RM5.20 (1 point, 2 points)
Net Total: 6 points

Grand Total after two rounds of IPO: 10 points

Friend C
Opening RM4.80 (1 point, minus 2 points)
Closing RM4.85 (minus 1 point, 1 point)
Net total : Minus 1 point

Grand Total after two rounds of IPO: 5 points


Guest
Opening RM5.50 (1 point, 2 points)
Closing RM5.60 (minus 1 point, 1 point)
Net total: 3 points


As you can see, after two rounds of IPO, Friend A always guess wrongly. Friend B is consitent, Friend C is not consistent.



Points System
Open above or below IPO price? Correct 1 point, Wrong minus 2 points
Opening price? Answer is within 5% (2 points), 5%-10% (1point), >10% (minus 2 point)
Close above or below Opening price? Correct 1 point, Wrong minus 1 point
Closing price? Answer is within 5% (2 points), 5%-10% (1point), >10% (minus 2 points)



More info on IPO target price, here.
http://politemarket.blogspot.com/search/label/IPO%20Target%20Listing%20Price


More info on recent IPO, here.
http://politemarket.blogspot.com/search/label/IPO


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Wednesday, June 27, 2012

Felda Target Listing Price

Once again, here are the target listing price of the major IPO, this time is Felda Global Ventures FGV stock.


Friend A
Opening RM5.00
Closing RM4.80


Friend B
Opening RM5.30
Closing RM5.20


Friend C
Opening RM4.80
Closing RM4.85


Guest
Opening RM5.50
Closing RM5.60



For more information on IPO target listing price, here.
http://politemarket.blogspot.com/search/label/IPO%20Target%20Listing%20Price


==============


Who are the Institutional Investors?
I saw many articles questioned who are those persons that were successfully allocated shares in their application in MITI. They want to know the list. They said retail portion very little, and many shares are given to MITI.

But I think many have overlooked on Institutional portion. Do they ever wonder which institutional got the shares.


================


I think FGV stock is overvalued by the analysts. But as being discussed everywhere, this is Malaysia General Election political stocks. Local Funds buying power can sustain FGV stock price.



================



Articles you may like:

IPO is good for Bursa Malaysia Stock Market
http://politemarket.blogspot.com/2011/04/ipo-is-very-good-for-bursa-malaysia.html



IPO is bad for Bursa Malaysia Stock Market
http://politemarket.blogspot.com/2011/04/ipo-is-very-bad-for-bursa-malaysia.html



IPO Target Listing Price
http://politemarket.blogspot.com/search/label/IPO%20Target%20Listing%20Price


Recent IPO
http://politemarket.blogspot.com/search/label/IPO


Felda IPO
http://politemarket.blogspot.com/search/label/Felda


PEGGY Method way of investing in stock market
http://politemarket.blogspot.com/search/label/Peggy%20Method



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Wednesday, June 20, 2012

Pacific & Orient Stock Share Price Analysis - Easy and Simple

Quick one.

P&O share price is RM0.915.
P&O PE ratio is 4.0x (2011).
Negative growth for 2012 and huge growth for 2013. PE ratio will then be less than 4x in 2013. Very low.
Gearing is nil (not too sure about this)
P&O Dividend yield is about 3.5% to 4.0%.
P&O stock is trading below NTA.


===================
 
 
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For information on Felda Global Ventures Holdings Berhad IPO here, PE ratio and target price
http://politemarket.blogspot.com/search/label/Felda




More information on Gas Malaysia IPO here, PE ratio and Target Price.

http://politemarket.blogspot.com/search/label/Gas%20Malaysia



More on IPO Target Listing Price, here.


For more information on IPO here.
http://politemarket.blogspot.com/search/label/IPO



Thanks

Friday, June 15, 2012

Felda Global Ventures Holdings IPO Balloting Result Table

Felda IPO Result:


Felda IPO Bumiputra Portion:
Applied 1,000-1,900 Felda shares, chances  18.08%, get 1,000 shares
Applied 11,000-19,900 Felda shares, chances  23.96%, get 10,000 shares
Applied 100,000-199,900 Felda shares, chances 51.02%, get 40,000 shares




Felda IPO Public Portion:
Applied 1,000-1,900 Felda shares, chances 5.88%, get 1,000 shares
Applied 11,000-19,900 Felda shares, chances 10.03%, get 10,000 shares
Applied 100,000-199,900 Felda shares, chances 13.19%, get 40,000 shares




===============


MIH is pleased to announce that Felda Global Ventures Holdings Berhad ("FGVH") Initial Public Offering under which 72,963,000 lssue Shares were made available for application by the Malaysian Public has been oversubscribed and balloting of successful applications was conducted this afternoon. The Joint Global Coordinators and Joint Bookrunners have confirmed that the Institutional Offering of 1,915,279,900 Shares has been fully placed out. The Institutional Price was fixed at RM4.55 per Share. Accordingly, the Final IPO Price for the Retail Offering is fixed at RM4.45 per lssue Share and refund of the difference of RM0.10 per Share will be despatched to successful retail applicants within 10 market days from 15 June 2012.

A total of 58,526 applications for 565,401,200 lssue Shares were received from the Malaysian Public for a total of 72,963,000 lssue Shares available for public subscription, which represents an oversubscription rate of 6.75 times.

All Notices of Allotment for these shares will be mailed to successful applicants on or before June 27, 2012.



Source: MIH


============



For more information on Felda Global Ventures Holdings Berhad IPO here, PE ratio and target price
http://politemarket.blogspot.com/search/label/Felda


More information on Gas Malaysia IPO here, PE ratio and Target Price.

http://politemarket.blogspot.com/search/label/Gas%20Malaysia

More on IPO Target Listing Price, here.
For more information on IPO here.
http://politemarket.blogspot.com/search/label/IPO

Thanks


Thursday, June 14, 2012

GasMsia Share Price Target Result

To be fair to my friends who guess the IPO target listing price, I have decided not to deduct thier point substatially for wrong guesses. The point deduction will be the same as the points that they can earn.

Here are the result of GasMsia stock:

GasMsia stock share price Opened at RM2.47, above IPO price.
The stock price closed at RM2.42, below Opened price.


Friend A
Opening  RM2.60 (1 point, 1 point)
Closing   RM2.72 (minus 1 point, minus 2 points)
Net Total: Minus 1 point



Friend B
Opening  RM2.35 (1 point, 2 points)
Closing   RM2.40 (minus 1 point, 2 points)
Net total: 4 points


Friend C
Opening   RM2.50 (1 point, 2 points)
Closing    RM2.40 (1 point, 2 points)
Net Total: 6 points.



Points System
Open above or below IPO price? Correct 1 point, Wrong minus 2 points
Opening price? Answer is within 5% (2 points), 5%-10% (1point), >10% (minus 2 point)
Close above or below Opening price? Correct 1 point, Wrong minus 1 point
Closing price? Answer is within 5% (2 points), 5%-10% (1point), >10% (minus 2 point)





For more information on Felda Global Ventures Holdings Berhad IPO here, PE ratio and target price
http://politemarket.blogspot.com/search/label/Felda



More information on Gas Malaysia IPO here, PE ratio and Target Price.
http://politemarket.blogspot.com/search/label/Gas%20Malaysia
More on IPO Target Listing Price, here.
For more information on IPO here.
http://politemarket.blogspot.com/search/label/IPO

Thanks

Thursday, June 7, 2012

Gas Malaysia Berhad IPO Target Listing Price

Updated 14/06/2012

To be fair to my friends who guess the IPO target listing price, I have decided not to deduct thier point substatially for wrong guesses. The point deduction will be the same as the points that they can earn.

Points System
Open above or below IPO price? Correct 1 point, Wrong minus 2 points
Opening price? Answer is within 5% (2 points), 5%-10% (1point), >10% (minus 2 point)
Close above or below Opening price? Correct 1 point, Wrong minus 1 point
Closing price? Answer is within 5% (2 points), 5%-10% (1point), >10% (minus 2 point)


===============================

For major IPO, I'll asked few friends to guess the listing price. Some are very experince in stock market, some are not. Sometimes I'll ask some guest to predict also. I start with Gas Malaysia IPO.


Friend A
Opening  RM2.60
Closing   RM2.72


Friend B
Opening  RM2.35
Closing   RM2.40


Friend C
Opening   RM2.50
Closing    RM2.40


Points System
Open above or below IPO price? Correct 1 point, Wrong minus 5 points
Opening price? Answer is within 5% (2 points), 5%-10% (1point), >10% (minus 3 point)

Close above or below Opening price? Correct 1 point, Wrong minus 1 point
Closing price? Answer is within 5% (2 points), 5%-10% (1point), >10% (minus 3 point)







For more information on Felda Global Ventures Holdings Berhad IPO here, PE ratio and target price
http://politemarket.blogspot.com/search/label/Felda

More information on Gas Malaysia IPO here, PE ratio and Target Price.
http://politemarket.blogspot.com/search/label/Gas%20Malaysia


More on IPO Target Listing Price, here:
http://politemarket.blogspot.com/search/label/IPO%20Target%20Listing%20Price



For more information on IPO here.
http://politemarket.blogspot.com/search/label/IPO
  
Thanks

Wednesday, June 6, 2012

Why you should not apply Felda Global Ventures Holdings Berhad IPO?

1)The chances of getting the Felda Global Ventures Holdings Berhad IPO are very low. See my calculation at the bottom of the points.

2)The prospect of Felda Global Ventures Holdings Berhad may not be so good, and therefore, may not deserve a high Felda stock PE ratio. About 53% of Felda oil palm trees are more than 21 years old, and oil palm trees have an average life of only 25 years. Meaning more than half of Felda Oil Palm tress are about to die. (or do they die? Or just not producing oil palm/ FFB). After the trees die, their profits will drop sharply, am I right?

3)Look at the listing of Facebook IPO.  Facebook stock price started to drop after listing and many incurred losses or paper loss.

4)World economy is not good. World stock markets are dropping and dropping.

5)World Commodities prices are dropping.

6)CPO price is dropping. From the past few months high of RM3,600 in April to currently below RM3,000. After most analysts have came out with Felda Global Ventures Holdings Berhad target price (early last week), the FCPO dropped further.

7)Felda is not an efficient Oil Palm planter. Although their yield is about the same as industry average, they are still below those big planters like IOI.

8)You don’t like the listing of Felda stocks, for whatever reasons, eg political, etc, so you plan to boycott it. Money to you is not very important.

9)Money will be locked up in IPO, better invest elsewhere for better return.

============
What are the chances in getting Felda Global Ventures Holdings Berhad IPO?

Let us take previous popular IPO as a guide.

Gas Malaysia 25,680,000 offered to Public at RM2.20. Assuming you use RM20,000 so you applied 9,000 shares. Result shows the chances are 2.44%.

Gas Malaysia    25,680,000 / RM2.20 /  9,000 shares  / 2.44%

PChem  160,000,000 / RM5.05 /  4,000 shares / 18.01%

Bumi Armada 58,569,400 / RM3.15  /  6,000 shares / 4.06%

If I use the three IPO and compute it into Felda IPO shares of 72,963,000, and average it out, I will get 6.73%. That is assuming applying for 4,400 shares. But because Felda got more people apply, due to more popular and Felda research analysis reports gave a higher Felda fair value, so the percentage can easily drop to 5.00%.

Everybody is talking about 20% gain.

In “probability method” that we had studied in school, 20% gain X 5% chances is 1% gain.

If you strike Felda IPO RM20,000 X 20% gain, you will get RM4,000. But on the average you need to try 20 times then only can strike one time.

Your RM20,000 will then become gain of RM200 on the average.

If 10% gain, then your return will be 0.5% or RM100 on the average.

Anyway, who says Felda can list more than 10% of Felda IPO price?

I am not being negative here. Because I heard too much good thing about Felda, so I present something negative to balance out.

Please note that all the points above are for case study purpose. Individuals have to make own decisions and please consult your financial advisers.

For more information on Felda Global Ventures Holdings Berhad IPO here, PE ratio and target price
http://politemarket.blogspot.com/search/label/Felda

More information on Gas Malaysia IPO here, PE ratio and Target Price.
http://politemarket.blogspot.com/search/label/Gas%20Malaysia



For more information on IPO here.
http://politemarket.blogspot.com/search/label/IPO
  

Thanks 



Tuesday, June 5, 2012

FGV IPO Target Price Fair Value

FGV PE ratio is 17.6x Dec 2011. According to ECM the growth rate will be 37% (2012), minus 22% (2013) and 9% (2014). FGV PE ratio will then be 15.2x in 2014. FGV dividend yield is 3.9% for 2012.

ECM gives FGV target price fair value of RM5.65, that is FGV PE ratio of 16x pegged against FGV earnings per share EPS for 2012.

Currently after some checking, most analysts give FGV stock a fair value of RM5.50 to RM6.00 FGV share price. You can refer to my previous posts on FGV IPO.

You can also refer to my previous posts on the negative news of FGV IPO.

If got time, I will post the reasons why is not worth to apply for FGV IPO. Both qualitative and quantitative reasons. I know many said FGV IPO is good, but I will try to work out some calculation, so that you have both good and bad thing to hear.


Opening of application :31/05/2012

Closing of application : 12/06/2012

Balloting of applications : 15/06/2012

Allotment of IPO shares to successful applicants : 26/06/2012

Tentative listing date : 28/06/2012

For more information on Felda Global Ventures Holdings Berhad IPO here, PE ratio and target price
http://politemarket.blogspot.com/search/label/Felda


More information on Gas Malaysia IPO here, PE ratio and Target Price.
http://politemarket.blogspot.com/search/label/Gas%20Malaysia


For more information on IPO here.
http://politemarket.blogspot.com/search/label/IPO

Thanks

Monday, June 4, 2012

Felda stock is not good? Felda share price will drop?

Currently I only hear good comments on Felda IPO, found some negative comments. It said FGVHB had 323,587ha of oil palm estates in Malaysia, of which 53% consist of oil palm trees that are more than 21 years old. Oil palm trees have an average life of 25 years.
From what I interpret, for the next week years, Felda profit will be under pressure and Felda PE ratio may continue to stay high and therefore, not good for Felda share price. Those who hold long term may be rewarded just by the Felda Dividend Yield.

But for Felda IPO, I think still can make money.

The articles are old, but some points still applicable.

---------

Kuala Lumpur: Felda Global Ventures Holdings Bhd’s (FGVHB) upcoming IPO, FGVHB IPO touted as Asia’s biggest this year, may not get the robust response many expect, analysts said.

For one, a large part of FGVHB’s plantations is old and needs to be replanted, leading to high costs.

According to its draft prospectus, FGVHB had 323,587ha of oil palm estates in Malaysia, of which 53% consist of oil palm trees that are more than 21 years old. Oil palm trees have an average life of 25 years, plantation industry experts note.

“The replanting will keep FGVHB’s profitability under pressure as replanting costs are charged to profit and loss under Malaysia’s accounting practice. From our understanding, the cost of replanting is similar to the cost of greenfield development, which is around RM15,000 per hectare up to maturity, spread over three years,” OSK Investment Bank said in a report last Tuesday

“This means FGVHB will need to spend about RM2.6 billion on replanting over the next five years,” the report said.

Lacking a robust growth story, analysts believe that FGVHB’s IPO may not attract the strong response Bumitama Agri Ltd did in Singapore last month.

Felda Global has 323,587ha of oil palm estates in Malaysia with 53% of oil palm trees more than 21 years old.

Bumitama’s IPO was oversubscribed by more than 30 times. On its first day of trading, Bumitama shares closed at a 27.5% premium to its IPO offer price.

To compare the growth potential, 71.9% of Bumitama’s total planted area of 119,162ha is made up of immature and young plants. The rest are at the prime age of 7 to 18 years. The company also owns 72,786ha of plantation land waiting to be planted.

In contrast, 30.7% of FGVHB’s planted area is made up of immature and young trees. Trees from the age of 10 to 20 years account for 16.4% and roughly 52.9% of the planted area was of old trees.

However, observers noted that FGVHB is still one of the leading global plantations players with advantages in economies of scale.

In terms of mature oil palm planted, Frost & Sullivan said FGVHB was the world’s third largest player in 2011 with 288,442ha of mature planted area after Sime Darby Bhd (468,668ha), Golden Agri-Resources Ltd (390,759ha), PT Astra Agro Lestari Tbk (217,343ha), and Wilmar International Ltd (216,623ha).

In terms of CPO production, FGVHB produced about 3.3 million tonnes making it the world’s leading producer, followed by Sime Darby (2.4 million tonnes), Golden Agri-Resources (2.2 million tonnes) Wilmar (1.8 million tonnes) and PT Astra Agro (1.3 million tonnes).

FGVHB also owns a 51% stake in MSM Holdings Bhd, the leading refined sugar producer in Malaysia, which contributed 29.4% to its revenue in 2011.

In 2011, FGVHB posted a net profit (after minority interest) of RM942.18 million on the back of RM7.47 billion in revenue. Based on its post-listing share base of 3.65 billion, this translates into an earnings per share (EPS) of about 26 sen.

FGVHB has not announced its IPO price yet, but observers believe that it will be priced based on a historical price-earnings ratio (PER) of its peers in the region.

According to analysts who track the plantation sector, the top plantation players listed in Malaysia, Singapore, and Indonesia had an average PER of around 15 times over the last few years.

On this assumption, the analyst said FGVHB offer price will be around RM3.90. FGVHB will offer up to 2.19 billion shares under its IPO, which is scheduled in June.

Source: The Edge Daily early May 2012.

==========

This article not so bad on Felda stock.

SOON-to-be listed Felda Global Ventures Holdings Bhd (FGVH) is going all out to boost productivity after its listing as part of efforts to ensure steady future growth in earnings.

Wholly-owned by the government's Felda Land Development Authority (Felda), FGVH is slated to be listed on Bursa Malaysia by the end of June. The listing is expected to garner a market capitalisation of RM18 billion and raise proceeds of over RM12 billion.

According to sources, although half of FGVH's 355,846ha oil palm estates are past their prime at over 25 years old, another 17 per cent of the estates are at their prime production between 20 and 25 years old.

"Together, they would help the company achieve its key performance index of harvesting 23 tonnes of fresh fruit bunches per ha per year in the next five years, from about 19.3 tonnes currently.

"These estates contribute 85 per cent to FGVH's net profit last year and (the contribution) is expected to grow as the company replants its estates," the source said.

A source said Felda will continue to boost productivity by using its award-winning Yangambi oil palm seeds, which can boost oil extraction rate to 23 per cent from the current 20 per cent.

It is understood that post-listing, FGVH plans to return 50 per cent of its net profit to shareholders and achieves a return on equity of 13 per cent.

Meanwhile, in a report, OSK Research said despite the headwinds, FGVH's initial public offering (IPO), if priced correctly, may have a fair take-up rate.

"Given the high price multiple of the large listed plantation companies in Malaysia in the range of 16 to 18 times, we believe it will not be difficult to command 12 to 13 times price-earnings, which is a premium to the large listed Indonesian player," OSK said, giving the stock a neutral recommendation.

It added that FGVH is headed by Datuk Sabri Ahmad, who was formerly group chief executive of Golden Hope Plantations Bhd and a highly respected figure in the palm oil industry. Thus, it has a fair chance in wooing investors.

OSK said 52.8 per cent of FGVH's planted oil palm areas will need to be replanted in the immediate future up to the next five years. At RM15,000 per ha, FGVH needs to spend RM2.6 billion on replanting over the next five years.

Other than oil palm plantations, FGVH also has 9,472ha rubber plantations, all of which are located in Peninsular Malaysia.

Under its downstream business, FGVH owns a soyabean and canola crushing and refining facility in Canada and an oleochemical plant in the US.

The group owns five palm oil refineries in Malaysia with a production of 1.6 million tonnes of refined palm oil products, although these assets are at associate levels.

The group also owns sugar business in Malaysia under listed MSM Holdings, in which it owns a 51 per cent stake.

All in all, FGVH will be the second biggest listed plantation company in Malaysia by planted hectarage after Sime Darby Bhd, and the third biggest in the world after Sime Darby and Singapore listed Golden Agri-Resources Ltd.

FGVH filed its draft prospectus with the Securities Commission late last week.

Although no price has been mentioned, there will be 2.19 billion new shares to be issued out of the total of 3.65 billion shares to be listed

Source: Business Times early May 2012.

=======


For more information on Felda Global Ventures Holdings Berhad IPO here, PE ratio and target price
http://politemarket.blogspot.com/search/label/Felda


More information on Gas Malaysia IPO here, PE ratio and Target Price.
http://politemarket.blogspot.com/search/label/Gas%20Malaysia


For more information on IPO here.
http://politemarket.blogspot.com/search/label/IPO


Thanks

Felda IPO Target Price Fair Value RM5.50 to RM6.00

As what I have expected, analysts put a high Felda Global Ventures Holdings Berhad IPO target price fair value of RM5.50 to RM6.00. With the high target price, many now hoing for a high Felda IPO target listing price. Later once I have gathered the info, I will post more on FGVH IPO.

KUALA LUMPUR: Several analysts place the fair value of Felda Global Ventures Holdings Bhd (FGV) about 20 to 30 per cent above its initial public offering (IPO) price of RM4.55 a share.

The analysts contacted quoted fair value of between RM5.50 and RM6.00. The targeted date of listing of the FGV shares on the Main Market of Bursa Malaysia is June 28.
Head of Retail Research Affin Investment Bank Dr Nazri Khan, when contacted yesterday, projected the fair value of FGV shares at RM5.50 a share based on the price earnings ratio of 18 times for the current financial year.

“FGV is a large plantation company operating 343,521 hectares of oil palm plantation in Malaysia with production capacity of 5.2 million tonnes of oil palm fruits.
“It is also presently on an expansion trail, acquiring new plantations and expanding its downstream activities. These measures will attract investor interest and help to support the stability of its share price,” he said.

Head of Research InterPacific Research, Pong Teng Siew, projected a fair value of RM5.80 a share for FGV in the first month of listing.
He said the valuation, among others, is based on the company’s potential geographical expansion and cost reduction when its main focus is trained on business in the international market.
“The benefits derived from its collaboration with foreign investors will also play an important role not only in respect of economies of scale but also improved competitiveness as well as opening up scope for business expansion, he added.

Meanwhile, Maybank Investment Bank chief executive officer Datuk Tengku Zafrul Tengku Abdul Aziz said the fair value of FGV shares can reach RM6 if nothing out of the ordinary happens.
“We have seen the performance of Gas Malaysia when its IPO was oversubscribed several times although the market was uncertain at that time.

“FGV is expected to show similar performance because it has the same qualities in terms of financial strength, dividend payments, and involvement in the right business sector,” he said.
President of the Bumiputera Remisier Association Md Hasrin Md Hassim placed the fair value of FGV shares at RM6 a share.

Source: Business Times

For more information on Felda Global Ventures Holdings Berhad IPO here, PE ratio and target price
http://politemarket.blogspot.com/search/label/Felda


More information on Gas Malaysia IPO here, PE ratio and Target Price.
http://politemarket.blogspot.com/search/label/Gas%20Malaysia


For more information on IPO here.
http://politemarket.blogspot.com/search/label/IPO
Thanks

Sunday, June 3, 2012

Gas Malaysia IPO Target Price Fair Value

The following is the list of Gasmsia IPO Target Price Fair Value, once I get the Felda IPO target price fair value, I will post it.

Gas Malaysia IPO research.
Hong Leong Research 2.55
Public Invest Research RM2.24
OSK Research RM2.52
Kenanga Research RM2.42
Alliance Research RM2.50
TA Securities RM2.40.
RHB Research 2.45



For more information on IPO here.
http://politemarket.blogspot.com/search/label/IPO

For more information on Felda IPO here.
http://politemarket.blogspot.com/search/label/Felda

More information on Malaysia Gas IPO here.
http://politemarket.blogspot.com/search/label/Gas%20Malaysia


Thanks

Gas Malaysia IPO Balloting Table Result

Examples:
Gas Malaysia IPO Bumiputra Portion:
Applied 1,000-1,900 Gas Malaysia shares, chances  4.23%, get 1,000 shares
Applied 11,000-19,900 Gas Malaysia shares, chances  9.77%, get 10,000 shares
Applied 100,000-199,900 Gas Malaysia shares, chances 12.28%, get 45,000 shares


Gas Malaysia IPO Public Portion:
Applied 1,000-1,900 Gas Malaysia shares, chances  1.26%, get 1,000 shares
Applied 11,000-19,900 Gas Malaysia shares, chances  2.79%, get 10,000 shares
Applied 100,000-199,900 Gas Malaysia shares, chances  4.90%, get 45,000 shares

===============


Gas Malaysia IPO shares oversubscribed by 21.6 times

KUALA LUMPUR: Gas Malaysia Bhd's initial public offering (IPO) is in hot demand with a total of 44,561 applications received for 581.39 million shares, representing an oversubscription rate of 21.64 times.

A total of 25.68 million shares were available for public subscription.

A total of 15,034 applications for 175.63 million shares were received under the bumiputra category which represents an oversubscription of 12.68 times while under the public category, 29,527 applications for 405.76 million shares were received for an oversubscription of 30.60 times.

The sole bookrunner, Maybank Investment Bank Bhd has confirmed that the institutional offering of 303.32 million shares has been completed. The institutional price was fixed at RM2.20 per share.

The other joint underwriters are Bank Muamalat Malaysia Bhd and Kenanga Investment Bank Bhd.

The IPO of Gas Malaysia involves 147.68 million shares offered to Bumiputra institutional and selected investors approved by the International Trade and Industry Ministry, 155.64 million shares to institutional and selected investors, 4.85 million shares reserved for application by eligible directors and employees and 25.68 million shares made available for application by the public.

Out of this, 12.84 million offer shares have been set aside for the bumiputra portion.

Gas Malaysia principally markets and distributes natural gas to customers in Peninsular Malaysia. The company will spend some RM140mil for pipeline network expansion this year.

This will involve an additional 70km to 90km of pipeline to complement the existing 1,800km network in Peninsular Malaysia.

For the subsequent years, capital requirements would be between RM30mil and RM40mil per annum.

Source: The Star
========================


MIH is pleased to announce that Gas Malaysia Berhad's ("GMB") Initial Public Offering of which 25,680,000 Offer Shares were made available for application by the Malaysian Public has been oversubscribed and balloting of successful applications was conducted this afternoon. The Sole Bookrunner has confirmed that the Institutional Offering of 303,315,000 Offer Shares has been completed. The Institutional Price was fixed at RM2.20 per Offer Share. Accordingly, the Final IPO
 Price for the Retail Offering is fixed at RM2.20 per Offer Share.

A total of 44,561 applications for 581,390,300 Offer Shares were received from the Malaysian Public for a total of 25,680,000 Offer Shares available for public subscription, which represents an oversubscription rate of 21.64 times.

All Notices of Allotment for these shares will be mailed to successful applicants on or before June 8, 2012.

Source: MIH

============

For more information on IPO here.
http://politemarket.blogspot.com/search/label/IPO

For more information on Felda IPO here.
http://politemarket.blogspot.com/search/label/Felda

More information on Malaysia Gas IPO here.
http://politemarket.blogspot.com/search/label/Gas%20Malaysia

Thanks

Friday, June 1, 2012

Felda Global Ventures Holdings Berhad IPO

Felda IPO PE ratio is 17.5x, that is based on December 2011 earnings per share EPS of RM0.26 and FELDA IPO share price of RM4.55. Pending verification.

I think Felda IPO target price fair value will be just like Gas Malaysia target price, where I noticed the investment banks, brokers and research houses have stretched the Gas Malaysia target price so high. They have used whatever methods they can, in order to come out and justify the high target price. Gas Malaysia PE ratio is so high, and I noticed most brokers use dividend yield to come out with target price.

My prediction, I think brokers or Felda IPO research analysis will have no problem assign some growth to Felda for the next few years and later we will see Felda IPO target price fair value higher than RM5.00, and maybe we can find some around Felda stock price target of RM5.50 or higher.

Later once I gathered more information on Felda IPO target price, I'll post it.

Felda IPO opening date 31-05-12 and closing date 12-06-12
Felda IPO issue price RM4.55
Felda IPO listing date 28-06-12 (tentative)

Initial Public Offering (“IPO”) Of Up To 2,188,890,900 Ordinary Shares Of RM1.00 Each In Felda Global Ventures Holdings Berhad FGVH IPO Shares. In Conjunction With The Listing Of And Quotation For The Entire 3,648,151,500 Ordinary Shares Of RM1.00 Each In Fgvh (“Shares”) On The Main Market Of Bursa Malaysia Securities Berhad Comprising An Offer For Sale Of Up To 1,208,890,900 Existing Shares (“Offer Shares”) And A Public Issue Of 980,000,000 New Shares (“Issue Shares”) Comprising:

(i) Institutional Offering Of Up To 1,915,279,900 Shares Comprising:

Up To 1,208,890,900 Offer Shares And 286,852,000 Issue Shares To Malaysian Institutional And Selected Investors And Foreign Institutional And Selected Investors At The Institutional Price To Be Determined By Way Of Bookbuilding (“Institutional Price”); And

419,537,000 Issue Shares To Bumiputera Institutional And Selected Investors Approved By The Ministry Of International Trade And Industry At The Institutional Price,

(ii) Retail Offering Of 273,611,000 Shares Comprising:

200,648,000 Issue Shares Made Available To The Eligible Employees (As Defined Herein), Eligible Felda Settlers (As Defined Herein) And Persons Who Have Contributed To The Success Of FGVH And Its Subsidiaries; And

72,963,000 Issue Shares Made Available To The Malaysian Public,
At The Retail Price Of RM4.55 Per Share (“Retail Price”), Payable In Full Upon Application And Subject To Refund Of The Difference, In The Event That The Final Retail Price (As Defined Herein) Is Less Than The Retail Price, Subject To The Clawback And Reallocation Provisions And Over-Allotment Option (As Defined Herein). The Final Retail Price Will Be Equal To The Lower Of:

(i) The Retail Price; And

(ii) 98% Of The Institutional Price,
Subject To Rounding To The Nearest Sen.


For more information on Felda Global Ventures Holdings Berhad IPO here, PE ratio and target price
http://politemarket.blogspot.com/search/label/Felda


More information on Gas Malaysia IPO here, PE ratio and Target Price.
http://politemarket.blogspot.com/search/label/Gas%20Malaysia


For more information on IPO here.
http://politemarket.blogspot.com/search/label/IPO


Thanks

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