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Monday, July 23, 2012

IHH Target Listing Price

Before I start, for those who have not got any refund from IHH IPO, as per IHH IPO timetable you may check with your broker now whether is there any IHH shares credited into your CDS account.

Friend A
Grand Total after two rounds of IPO: Minus 2 points
Prediction:
IHH Opening price RM3.20
IHH Closing price  RM3.12




Friend B
Grand Total after two rounds of IPO: 10 points
Prediction:
IHH Opening price RM3.30
IHH Closing price  RM3.24



Friend C
Grand Total after two rounds of IPO: 5 points
Prediction:
IHH Opening price RM2.96
IHH Closing price  RM3.08


IHH IPO Final institutional price is RM2.80 and the final retail price is also RM2.80




As you can see, after two rounds of IPO, Friend A always guess wrongly. Friend B is consistent, Friend C is not consistent. So now with IHH IPO, Will Friend A guess wrongly again?



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)


============  


IHH TARGET PRICE



IHH Target price fair value is RM2.94 by ECM.
Hong Leong Investment Bank RM3.49
TA Securities RM3.33
Public Investment Bank RM2.98
JF Apex Securities RM3.00



========


Reported by Reuters and Business Times 22 July 2012 saying IHH Healthcare Bhd will look to buy assets in China and India to grow profits. IHH managing director Lim Cheok Peng told Reuters they are pretty confident these countries will become their new home markets in the future and are trying to develop these two markets.


According to The Star 4 July 2012, IHH managing director Dr Lim Cheok Peng said IHH Healthcare Bhd is not looking for acquisitions at the moment as the Company tries to integrate recent acquisitions which include the Turkish Acibadem group completed earlier this year. Our plate is full at this time.


Based on the above statement, I think IHH may not want to buy other company in order to venture into China and India. Probably they want to venture into these two markets on their own by buying assets. Or maybe China and India are for future?



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


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




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Thursday, July 19, 2012

I made another stock 100% gain

Bought HuaYang in November 2010 at RM0.73, and gain more than 100% (RM1.46) in January 2012, within 15 months. Now is RM1.97. Purchase price was actually RM0.97, but adjusted for bonus issue 1 for 3 and became RM0.73.
For the past two and a half years, by using PEGGY Method, few of my stocks have made more than 100%.


More information on PEGGY Method, here.
http://politemarket.blogspot.com/2010/05/how-to-get-peggy-figure.html




Of course if someone holds few hundred stocks, easily few stocks can made more than 100%. But the actual profit is how much the gain on the overall portfolio (cash and all shares). I normally hold 7 to 10 stocks and now my fund has grown and I willl be holding few more stocks. For the past 12 months my overall portfolio gain 33.91% compared with KLCI just up 1.28%. My fund also performed better than most of the unit trusts.


By using PEGGY Method, I am more long term and sometimes are aiming for 100% gain rather than 10% or 20%


I know many people made more profit, but most are through difficult methods. The point is, it is not difficult to achieve good profit if we use PEGGY Method and PEGGY Method simple. Many people can do it by themselves.


More information on my most fund performance here.
http://politemarket.blogspot.com/2012/07/my-fund-performance-update-one-year.html





More info on the how my previous stocks that made more than 100% gain, here.
http://politemarket.blogspot.com/2011/12/100-gain.html



More information on PEGGY Method, here.
http://politemarket.blogspot.com/2010/12/what-is-peggy-method.html

http://politemarket.blogspot.com/2010/08/why-peggy-method-if-we-have-analyst.html

http://politemarket.blogspot.com/2010/07/how-to-import-peggy-pe-and-growth.html

http://politemarket.blogspot.com/2010/07/how-to-use-peggy-method-to-select-stock.html

http://politemarket.blogspot.com/2010/05/how-to-get-peggy-figure.html

http://politemarket.blogspot.com/2010/05/what-is-peggy-ratio-method.html





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Saturday, July 14, 2012

IHH HEALTHCARE BERHAD IPO Balloting Result Table

IHH IPO Result under IHH stock code 5225:

IHH IPO Bumiputra Portion:
Applied 1,000-1,900 IHH shares, chances 50.23%, get 1,000 shares
Applied 11,000-19,900 IHH shares, chances 55.62%, get 9,000 shares
Applied 100,000-199,900 IHH shares, chances 61.69%, get 22,000 shares


IHH IPO Public Portion:
Applied 1,000-1,900 IHH shares, chances 14.99%, get 1,000 shares
Applied 11,000-19,900 IHH shares, chances 19.01%, get 9,000 shares
Applied 100,000-199,900 IHH shares, chances 22.01%, get 22,000 shares

=====

IHH Stock Name.

MIH is pleased to announce that the IHH's offering of up to 161.14 million IPO Shares which were made available for application by the Malaysian public has been oversubscribed and balloting of successful applrcations was conducted this afternoon. The Joint Global Coordinators, Joint Bookrunners and Joint Lead Managers have confirmed that the Global lnstitutional Tranche of up to 138.01 million IPO Shares has been completed and was more than 130 times oversubscribed. The Institutional Price was fixed at RM2.80 per IPO Share. Accordingly, the Final Retail Price for the Malaysia Public Offering is fixed at RM2.80 per IPO Share and a refund of the difference of RM0.05 per IPO Share will be despatched to successful retail applicants within 10 market days from 16 July 2012.

A total of 65,834 applications for 1,039,701,300 IPO Shares were received from the Malaysian public for a total of up to 161.14 million IPO Shares available for public subscription, which represents an oversubscription rate of 5.45 times.
All Notices of Allotment for these shares will be mailed to successful applicants on or before July 24, 2012.
Source: Bursa, MIH

========

Other Articles you may interest:


IHH Target Price Fair Value here
http://politemarket.blogspot.com/2012/07/ihh-ipo-target-price-fair-value.html


Negative points about IHH stock here.
http://politemarket.blogspot.com/2012/07/ihh-ipo-why-you-should-not-apply.html


IHH IPO offer, here.
http://politemarket.blogspot.com/2012/07/ihh-healthcare-berhad-ipo.html


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


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


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Thursday, July 12, 2012

Gabungan AQRS target price fair value

Busy recently. Let us have some quick figures on Gabungan AQRS stock.
AQSR PE ratio 8.42x 2011 Dec
Growth negative 7% (2012) and negative 5.1% (2013)
Net gearing = net cash
AQSR Dividend yield: 1.7%
Forecast by RHB. We have arrived at an indicative AQSR fair value of RM0.99 for AQRS based on 8x FY12/13 EPS, at the low end of our 1-year forward target PER of 8-13x for the construction sector to reflect AQRS’ relatively small market capitalisation.

AQSR PE ratio 8.7x 2011 Dec
6.6% (2012), 21% (2013), 22% (2014)
Net cash
AQSR Dividend yield 2.5%
Gabungan AQRS has established a dividend policy of paying out up to 25% of the group annual profit after taxation to the equity holders of the company.
Forecast by TA Securities: There are no other listed local competitors that are directly comparable to Gabungan AQRS. However, for valuation purposes, we benchmark Gabungan AQRS to selected construction stocks listed on the main market of Bursa Malaysia with market cap of not exceeding RM500m. At IPO price of RM1.18, Gabungan AQRS is trading at trailing PER of 8.4x CY11. We value Gabunagn AQRS at 7.0x CY13 EPS and derive a fair value of RM1.23.


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



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

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




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Tuesday, July 10, 2012

My Fund Performance Update (one year 33.91%)

My Fund Performance Link has moved to:
http://politemarket.blogspot.com/search/label/Fund%20Performance%20PEGGY

For one year 30 Jun 2011 to 30 Jun 2012
KLCI up                  1.28%
My fund up         33.91%


From six months 1 January 2012 to 30 June 2012
KLCI up                  4.47%
My Fund up       18.36%


This time, my fund has outperformed the KLCI again. As I have mentioned  before, it is not difficult to beat the KLCI. However, this time I was surprised by the performance of my fund which has beat the KLCI by a very big margin.

I didn’t check The Edge weekly, based on the figures I know my fund can also beat most of the unit trusts. Most of the equity unit trusts’ track very closely with KLCI performance.

If I include the charges, for one year period, I will have to add 1.5% annual charges, and 0.9% injection charges. So my fund performance should be 33.91% + 1.5% + 0.9%  =    36.31%

I know it is not difficult to beat KLCI and unit trusts. It is not because I am good, it is because KLCI consist of some stocks that lack growth, whereas I can easily buy small company stocks with growth potential.

This is something that most people also can do. My investment is based on two strategies, PEGGY Method and Dollar Cost Averaging.

Happy Investing.




For introduction and more information on my fund performance, why I need to add charges, here.



For more information on PEGGY Method, here.
http://politemarket.blogspot.com/search/label/Peggy%20Method


For more information on Dollar Cost Averaging, here.
http://politemarket.blogspot.com/search/label/Dollar%20Cost%20Averaging



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



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



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Friday, July 6, 2012

IHH IPO Target Price Fair Value

Let is look at the IHH IPO target price fair value RM2.94 and RM2.98. Let us look at how the fair value is derived.

Public Investment Bank forecast, IHH fair value RM2.98
2012 net profit RM344 mil, EPS RM0.043 PE ratio 67x
2013 net profit RM490 mil, EPS RM0.061, PE ratio 47x

ECM Libra forcast, IHH target price RM2.94
2012 net profit RM374 mil, EPS RM0.046 PE ratio 61x
2013 net profit RM608 mil, EPS RM0.075, PE ratio 38x
2014 net profit RM804 mil, EPS RM0.100 PE ratio 29x


My prediction is net profit of RM700mil in year 2013. Both the above forecast net profit is much lower than my prediction. But let us wait for what other brokers will say.

By looking at the above forecast, you will notice that even in year 2014, the PE ratio is still about 30x. Expensive.


But I am wondering why valuation is so low but still can have fair value near the IHH IPO price. Let us see what they have commented.


ECM Libra.
Given the high predictability, stability and captive earnings streams in the healthcare services, we are using 2013 EV/EBITDA valuation methodology in our sum-of-parts valuation. Our target price is RM2.94 based on sum-of-parts valuation. This is just a 3% upside from the indicative IPO price of RM2.85, which could be revised lower depending on the book-building exercise. The retail and institutional IPO price will be the same.


Public Investment Bank
We derive a fair value of RM2.98 based on EV/EBITDA valuations pegged to FY13 earnings. We used a sum-of-parts approach, assigning individual growth rates and EV/EBITDA multiples to each country. We believe an SOP valuation is justified as we do not foresee major synergies to be achieved across the group, with the bulk of operational costs (i.e. staff and material costs, rental, service fees) being incurred in the respective countries. For example, the procurement of pharmaceutical drugs,
medical devices and consumable products are done separately by PPL and Acibadem, and the purchase of patented drugs is typically negotiated locally with the local suppliers of each country. Furthermore, there is no global brand for IHH; each country has its individual trademark brand (Parkway, Pantai, Gleneagles and Acibadem) which customers identify with, and these brands are unrelated to each other. As such, each segment is likely to perform as a separate entity, with IHH
reaping the benefits as a sum of all parts.

Do you think is worth to apply IHH IPO after seeing the low valuation? You may argue that this is Malaysia General Election stock and sure can make money. The reasons to apply IHH IPO and not to apply, can refer here, http://politemarket.blogspot.com/2012/07/ihh-ipo-why-you-should-not-apply.html


As usual, I will come out with IHH Target Listing Price before it is listed, for an introduction please refer here.
http://politemarket.blogspot.com/search/label/IPO%20Target%20Listing%20Price

I will post more on IHH IPO, please visit again.


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



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



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IHH IPO - Why You Should Not Apply

To be fair or to balance out, before I tell you why you should not apply, I will also tell you why you should apply.

Why You Should Apply IHH IPO:
It is government linked, normally will not die in the beginning.

Election is coming. This IHH IPO, together with Felda IPO, are being viewed as Malaysia General Election IPO. I didn't said it, it is being reported everywhere. So, it has to be good. Good means make money.

The IHH IPO shares offered are huge and the chances of striking is higher.

IHH is involved in healthcare, a recession proof industry and the industry is also growing.

Although IHH PE ratio is high, most of the regional healthcare stocks also trade at high PE ratio. Furthermore, IHH is the second largest listed private healthcare provider, and should trade at high PE ratio.

Newspaper reported "A strong domestic market could see IHH make a stronger trading debut than Felda Global's 20 percent first day pop when the firm lists on July 25, due in part to its defensive appeal, local investors say".

"IHH offers less to the public and institutional investors (10.52 percent) than Felda (26.9 percent), how difficult is it for it to perform the same as Felda?" said a senior official with a Malaysian bank-backed fund management firm.
So many cornerstone investors and they are good quality.
Finance Asia: Among the cornerstone investors, Malaysia’s Employee Provident Fund Board is taking 200 million shares, or about 8.95% of the total offering (pre-shoe), and the Kuwait Investment Authority is buying 150 million shares, or 6.7% of the deal.

The other cornerstones are AIA Group, Blackrock Investment Management, Capital Group International, Capital Research Global Investors, CIMB-Principal Asset Management, CMY Capital Markets, Eastspring Investments, Fullerton Fund Management (a unit of Temasek), The Government of Singapore Investment Corp, HPL Investors and Como Holdings, Hwang Investment Management, International Finance Corp, JF Asset Management, Keck Seng, Kencana Capital, Lembaga Tabung Haji, Mezzanine Equities, Newton Investment Management, Och-Ziff Capital Management Group and Permodalan Nasional

Widely reported that The global institutional offer of Malaysia's IHH Healthcare Bhd's $2 billion initial share sale has been oversubscribed nearly 60 times.


Now, why you should NOT subscribe IHH IPO.
The chances of striking the IHH IPO is superb low. Many of you may already been very disappointed of not getting Gas Malaysia and Felda FGV and other IPO. Some of you may think that better use the fund to buy shares, more direct. You may have asked around and found out that many of your friends also didn't strike. Waste time, waste effort and waste opportunity cost.

You think that IPO is not for you. You have been occasionally apply IPO for the past 10 years but never get. Some of you may experience Good IPO didn't get, bad IPO you get.

IHH PE ratio is really high. They are depending on future high profit forecast. If the future profit correctly predicted, the price will not jump because already expected and reflected in price, but if it cannot meet the forecast, then the price will drop.

Because of the expensive valuation, unable to make much money.

Although many say IHH share price will be supported by government, do you think government has unlimited fund?

What is so great about good cornerstone investors? Even the government of Singapore investment corporation also made huge losses when market is not good.


The world economy is very uncertain, with very poor outlook. Even many major IPO have delayed their listing.


You dislike how the current government manage the country fund, so you may want to boycott it.

You are lazy to apply IHH IPO.


Up to individual to decide whether to apply IHH IPO or not.



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



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

More info on IPO target listing 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, July 4, 2012

OCK IPO

Let us look at OCK IPO with target price fair value. Based on OCK IPO price of RM0.36, EPS of RM0.031 in 2011, OCK PE ratio will be about 11x.


Growth is negative 7% (2012), 34% (2013) and 29% (2014). If the growth can be achieved, then OCK PE ratio should be around 6.8x in 2014.


OCK gearing is low 0.1x, and OCK dividend yield should be low or nil. According to TA Securities, OCK does not have a formal dividend policy but they anticipate management to retain earnings to fund expansion plans for the company, which is currently in its growth stage.


The above forecast is from TA Securities, and their comments:
There are no listed companies within Malaysia and the region which are directly comparable to OCK in terms of business model. We arrive at a fair value of RM0.41 (upside: 15%) for OCK by applying a 10x target multiple to FY13 EPS which we deem fair due to the solid growth prospects of the company which is venturing into the lucrative business of renting out telco towers. There is upside to our FY13-15 EPS estimates as we have not incorporated earnings from OCK’s new tower rental business, which we believe is a catalyst for earnings to be rerated upwards, and a significant future
growth driver.



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



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

More info on IPO target listing 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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Tuesday, July 3, 2012

IHH HEALTHCARE BERHAD IPO

Let us look at IHH target price fair value with PE ratio. Based on IHH IPO share price of RM2.85, from  the data that I have gathered, IHH PE ratio will be very high at above 30x year 2012. Even for year 2013, IHH PE ratio will be still more than 20 times.
For the next few years, IHH income has projected to grow. But PE ratio is still high. Argument is that most regional heathcare stocks also trade at PE Ratio above 20x and IHH supposed to trade at much higher PE ratio than the regional average because IHH market capitalisation is much bigger, owned by Malaysia government through Khazanah, good track records and brand name. After listing, IHH will be one of the biggest listed private heathcare providers.

But I thought the analysts always told us that as a holding company the stock will trade at lower PE ratio? IHH Healthcare Berhad is considered as a holding company. They holds Parkway, Pantai, IMU, etc.

Should IHH trade at lower PE ratio or higher PE ratio? I am very confused.

Remember Bursa Malaysia stock? At RM15 in year 2007, broker recommended to buy Bursa Malaysia stock, using regional PE ratio as basis for fair value. Then what happened? Market has recovered and touching new high, but Bursa Malaysia stock still trading at RM6.20!!

If IHH will to trade at PE ratio of just 20x, IHH target price fair value will be only RM2.44, that is lower than the IHH IPO price of RM2.85. But there are many things that I don’t know. What is beyond 2013? What will be IHH’s profit beyond 2013?


If we stretch the valuation of IHH, I think IHH fair value can be stretched to RM3.20, that is based on IHH PE ratio of more than 25 times.


If beyond 2013, IHH’s profit can continue to grow at reasonable rate, then can justify a higher PE ratio and higher target price. Furthermore, stock price is also based on sentiment. More buying interest, the stock price will goes up, who cares about profit figures. Malaysia general election is coming soon, IHH share price can goes up?

That’s all for the time being. I will post more once I have gathered more information. Do visit my blog again.

===

IHH IPO price RM2.85.


Opening of application 03/07/2012

Closing of application 11/07/2012

Balloting of applications 13/07/2012

Allotment of IPO shares to successful applicants 23/07/2012

Tentative listing date 25/07/2012


THE GLOBAL OFFERING OF UP TO 2,234.65 MILLION ORDINARY SHARES OF RM1.00 EACH IN IHH HEALTHCARE BERHAD (FORMERLY KNOWN AS INTEGRATED HEALTHCARE HOLDINGS BERHAD) (“IHH”) (“SHARES”) COMPRISING A PUBLIC ISSUE OF UP TO 1,800.00 MILLION NEW SHARES AND AN OFFER FOR SALE OF UP TO 434.65 MILLION EXISTING SHARES (COLLECTIVELY “IPO SHARES”) INVOLVING THE:

(I) INSTITUTIONAL PLACEMENT OF UP TO 498.01 MILLION IPO SHARES COMPRISING:

UP TO 360.00 MILLION IPO SHARES TO BUMIPUTERA INSTITUTIONAL AND SELECTED INVESTORS APPROVED BY THE MINISTRY OF INTERNATIONAL TRADE AND INDUSTRY (“MITI TRANCHE”); AND

UP TO 138.01 MILLION IPO SHARES TO OTHER MALAYSIAN INSTITUTIONAL AND SELECTED INVESTORS, FOREIGN INSTITUTIONAL AND SELECTED INVESTORS OUTSIDE THE UNITED STATES IN RELIANCE ON REGULATION S UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (“US SECURITIES ACT”), AND WITHIN THE UNITED STATES TO QUALIFIED INSTITUTIONAL BUYERS AS DEFINED IN RULE 144A OF THE US SECURITIES ACT (“GLOBAL INSTITUTIONAL TRANCHE”), AT THE INSTITUTIONAL PRICE TO BE DETERMINED BY WAY OF BOOKBUILDING (“INSTITUTIONAL PRICE”);

(II) MALAYSIA PUBLIC OFFERING OF UP TO 208.51 MILLION IPO SHARES TO THE MALAYSIAN PUBLIC, ELIGIBLE DIRECTORS AND ELIGIBLE EMPLOYEES OF IHH AND ITS SUBSIDIARIES (“IHH GROUP”), AND BUSINESS ASSOCIATES AND PERSONS WHO HAVE CONTRIBUTED TO THE SUCCESS OF THE IHH GROUP, INCLUDING DOCTORS, AT THE RETAIL PRICE OF RM2.85 PER IPO SHARE (“RETAIL PRICE”);

(III) SINGAPORE OFFERING OF UP TO 140.64 MILLION IPO SHARES, IN CONJUNCTION WITH THE CONCURRENT SECONDARY LISTING ON THE MAIN
 BOARD OF THE SINGAPORE EXCHANGE SECURITIES TRADING LIMITED (“SGX-ST”) (“SECONDARY LISTING”), COMPRISING:

AN OFFERING TO THE SINGAPOREAN PUBLIC, ELIGIBLE DIRECTORS AND ELIGIBLE EMPLOYEES OF THE IHH GROUP, AND BUSINESS ASSOCIATES AND PERSONS WHO HAVE CONTRIBUTED TO THE SUCCESS OF THE IHH GROUP, INCLUDING DOCTORS, AT THE RETAIL PRICE OF SGD1.18 PER IPO SHARE; AND

A PLACEMENT TO INDIVIDUALS, CORPORATIONS AND OTHER INVESTORS IN SINGAPORE AT THE FINAL RETAIL PRICE PER IPO SHARE; AND

(IV) CORNERSTONE OFFERING THAT IS SEPARATE FROM BUT CONCURRENT WITH THE INSTITUTIONAL PLACEMENT, MALAYSIA PUBLIC OFFERING AND SINGAPORE OFFERING, WHERE EACH OF THE CORNERSTONE INVESTORS HAS ENTERED INTO A CORNERSTONE PLACEMENT AGREEMENT WITH IHH TO SUBSCRIBE FOR AN AGGREGATE OF 1,387.50 MILLION IPO SHARES AT THE INSTITUTIONAL PRICE, SUBJECT TO THE TERMS OF THE RESPECTIVE CORNERSTONE PLACEMENT AGREEMENTS.

THE RETAIL PRICE IS PAYABLE IN FULL UPON APPLICATION AND SUBJECT TO A REFUND OF THE DIFFERENCE IN THE EVENT THAT THE FINAL RETAIL PRICE IS LESS THAN THE RETAIL PRICE. THE FINAL RETAIL PRICE WILL EQUAL THE INSTITUTIONAL PRICE, SUBJECT THAT IT WILL NOT EXCEED THE RETAIL PRICE.

THE INSTITUTIONAL PLACEMENT, MALAYSIA PUBLIC OFFERING AND SINGAPORE OFFERING ARE SUBJECT TO THE CLAWBACK AND REALLOCATION PROVISIONS AND OVER-ALLOTMENT OPTION AS DESCRIBED IN THIS PROSPECTUS.


Thanks


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



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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2)Please join Google Friend Connect in my blog.
3)Please click facebook "LIKE" if you like my blog.
4)If you are using mobile, please click/change to web base in ordeer to see my facebook "LIKE" and Google Friend Connect.
http://politemarket.blogspot.com


Thanks

Yinson stock research analysis review

Yinson share price RM2.15.
Yinson PE ratio projected about 14x Jan 2013, and <10 2014 and about only 6x in 2014.
Growth starting from Jan 2013.
Gearing about 1x.
Dividend yield is about 1% only.
Yinson target price fair value RM2.54 Maybank and RM2.68 Kenanga

Comments by Maybank
Results in line, maintain BUY with a MYR2.54 TP. Results met our expectations, with a strong QoQ performance all round. We maintain our earnings forecasts. Yinson offers strong earnings growth (3-year net profit CAGR of 54%) and an exposure to the Vietnam O&G sector without the Dong currency risk, at undemanding valuations. Our SOP-based TP implies a FY1/14 PER of 10x.

Comments by Kenanga
Corporate exercise for the equity portion of FPSO within CY12. Yinson is likely to call for another corporate exercise to fund its equity portion of the FPSO contract. As such, there is a potential for earnings dilution in an early stage, which is something investors should note as well.

Maintain OUTPERFORM.We are positive on the company's prospects given its significant growth trajectory. We have an Outperform call on the stock with a target price of RM2.68 based on FY14 Sum-Of-Parts valuation.




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


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Monday, July 2, 2012

Make Money in Stock Market through Initiate Coverage

On 20th June 2012, Kenanga initiated coverage on P&O stock. P&O share price went up from RM0.915 to RM0.935 on that day. Then on 21st June 2012, many newspapers or media (eg The Star newspaper, Business Times, Malaysian Reserves) published the Kenanga research coverage on P&O and the price shoot up from RM0.935 to RM1.00.

In my series of article on 52 Ways of Making Money in Stock Market, I have mentioned that one of the ways to make money is through Initiate Coverage.


For more information on how to make money through Initiate Coverage, and the disadvantages, here.
http://politemarket.blogspot.com/2011/04/52-ways-of-making-money-in-stock-market_13.html


For more information on my series of article on 52 Ways of Making Money in Stock Market, here.
http://politemarket.blogspot.com/search/label/52%20Ways%20of%20Making%20Money%20in%20Stock%20Market


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


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Sunday, July 1, 2012

GABUNGAN AQRS BERHAD IPO

GABUNGAN AQRS BERHAD stock IPO price RM1.18 main market
Opening of application  29/06/2012

Closing of application   13/07/2012

Balloting of applications   17/07/2012

Allotment of IPO shares to successful applicants 26/07/2012

Tentative listing date  31/07/2012


PUBLIC ISSUE OF 62,000,000 NEW ORDINARY SHARES OF RM0.25 EACH IN GABUNGAN AQRS BERHAD (“COMPANY“) COMPRISING:

18,000,000 NEW ORDINARY SHARES OF RM0.25 EACH AVAILABLE FOR APPLICATION BY THE MALAYSIAN PUBLIC;

6,000,000 NEW ORDINARY SHARES OF RM0.25 EACH AVAILABLE FOR APPLICATION BY THE ELIGIBLE DIRECTORS AND EMPLOYEES OF OUR COMPANY AND OUR SUBSIDIARIES (“GROUP”) AND/OR PERSONS WHO HAVE CONTRIBUTED TO THE SUCCESS OF OUR GROUP;

32,000,000 NEW ORDINARY SHARES OF RM0.25 EACH AVAILABLE FOR PRIVATE PLACEMENT TO SELECTED INVESTORS; AND

6,000,000 NEW ORDINARY SHARES OF RM0.25 EACH AVAILABLE FOR PRIVATE PLACEMENT TO BUMIPUTERA INVESTORS APPROVED BY THE MINISTRY OF INTERNATIONAL TRADE AND INDUSTRY
OFFER FOR SALE OF 30,000,000 ORDINARY SHARES OF RM0.25 EACH IN OUR COMPANY AVAILABLE FOR PRIVATE PLACEMENT TO BUMIPUTERA INVESTORS APPROVED BY THE MINISTRY OF INTERNATIONAL TRADE AND INDUSTRY

AT AN ISSUE/OFFER PRICE OF RM1.18 PER ORDINARY SHARE OF RM0.25 EACH PAYABLE IN FULL ON APPLICATION IN CONJUNCTION WITH OUR LISTING ON THE MAIN MARKET OF BURSA MALAYSIA SECURITIES BERHAD

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AQRS THE BUILDING COMPANY (AQRS), formerly known as Damansara Residences Sdn Bhd, was incorporated in July 2001 as the property development arm of Gabungan AQRS Berhad whose core business is in the building civil construction and development industries. Backed by the Group’s solid financial backing and supported by experienced technical and management expertise. AQRS has earned a reputation for itself as a developer with foresight with a penchant for conscientiously-planned residential and commercial developments. Its notable maiden projects include The Residency in Kota Damansara.

As a ISO 9001:2008 certified developer with a strong footing who has been delivering aesthetically-planned developments since its inception. AQRS is poised to make an indelible mark in the property industry with its innovative plans for the future.

Incorporated in July 2001, AQRS was formed to spearhead the Motibina Group's venture into property development. Motibina Sdn Bhd is a class A CIDB construction company which has operated with a dedicated team of staff since 1996.
As part of the Motibina Group of companies, AQRS shares a dynamic duo of directors who have combined experience of over 60 years in the building and civil construction industries, as well an experienced support team which has expanded to cater to the now larger group of companies

Source" Gabungan AQRS Berhad

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30/06/2012
KUALA LUMPUR: Construction and property developer Gabungan AQRS Bhd will utilise about RM73.16mil from the proceeds of its initial public offering (IPO) for expansion activities.

CEO Alvin Ng Chun Kooi said about RM30.46mil would be allocated for working capital, RM25mil to acquire new land bank, RM12mil to acquire a corporate headquarters and the remaining RM5.7mil would be used for listing expenses.

He said the company, enroute for listing on the Main Market of Bursa Malaysia Securities by end-July, envisaged various expansion and growth plans.

“This includes venturing into government-initiated public-private sector partnership (PPP) projects, expansion into new geographical markets overseas and developing further our property development,” he said in a statement.

Gabungan AQRS yesterday launched its prospectus for the public issue of 62 million new ordinary shares of 25 sen par value and an offer for sale of 30 million ordinary shares of 25 sen par value at a price of RM1.18 per share.

Ng said with the company’s listing and access to the capital market, it would have the financial resources to be in a position to actively participate in building and infrastructure-related PPP projects.

“To further expand the construction business, we will also leverage on the distinction of wholly-owned subsidiary Gabungan Strategik Sdn Bhd in the Industrial Building System (IBS) construction method which the Government is promoting as an alternative to the labour-intensive conventional construction method.

“In property development, Gabungan AQRS will be on the lookout to acquire new land banks in strategic locations for commercial or residential development,” he said.

“But, as a lifestyle developer, we are not eyeing large tracts of land which account for its current land bank of only 13 hectares.”

The offer period to subscribe for Gabungan AQRS IPO ends on July 13. – Bernama
Source: The Star


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

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